<SEC-DOCUMENT>0001213900-24-034140.txt : 20240418
<SEC-HEADER>0001213900-24-034140.hdr.sgml : 20240418
<ACCEPTANCE-DATETIME>20240418164126
ACCESSION NUMBER:		0001213900-24-034140
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		158
CONFORMED PERIOD OF REPORT:	20231231
FILED AS OF DATE:		20240418
DATE AS OF CHANGE:		20240418

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ellomay Capital Ltd.
		CENTRAL INDEX KEY:			0000946394
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35284
		FILM NUMBER:		24854796

	BUSINESS ADDRESS:	
		STREET 1:		9 ROTHSCHILD BLVD.
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			6688112
		BUSINESS PHONE:		011-972-3-797-1111

	MAIL ADDRESS:	
		STREET 1:		9 ROTHSCHILD BLVD.
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			6688112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUR MACROPRINTERS LTD
		DATE OF NAME CHANGE:	19980331

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUR ADVANCED TECHNOLOGIES LTD
		DATE OF NAME CHANGE:	19950607
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>ea0201663-20f_ellomay.htm
<DESCRIPTION>ANNUAL REPORT
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</div><p style="text-align: center; margin-top: 0; margin-bottom: 0"><b>UNITED STATES<br/>
SECURITIES AND EXCHANGE COMMISSION</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>WASHINGTON, D.C. 20549</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>&#160;</b></p><div>

</div><!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 25%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>FORM <ix:nonNumeric contextRef="c0" name="dei:DocumentType" id="ixv-64418">20-F</ix:nonNumeric></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>(Mark One)</b></p><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <ix:nonNumeric contextRef="c0" format="ixt:fixed-false" name="dei:DocumentRegistrationStatement" id="ixv-39"><span><b>&#9744;</b></span></ix:nonNumeric> <b>REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 </b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"> <b>OR</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>&#160;</b></p><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <ix:nonNumeric contextRef="c0" format="ixt:fixed-true" name="dei:DocumentAnnualReport" id="ixv-54"><span style=" font-size: 10pt"><b>&#9745;</b></span></ix:nonNumeric> <b>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>For the fiscal year ended <ix:nonNumeric contextRef="c0" format="ixt:date-monthname-day-year-en" name="dei:DocumentPeriodEndDate" id="ixv-64419"><ix:nonNumeric contextRef="c0" format="ixt:date-monthname-day-en" name="dei:CurrentFiscalYearEndDate" id="ixv-64420">December
31</ix:nonNumeric>, <ix:nonNumeric contextRef="c0" name="dei:DocumentFiscalYearFocus" id="ixv-64421">2023</ix:nonNumeric></ix:nonNumeric></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"> <b>OR</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>&#160;</b></p><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <ix:nonNumeric contextRef="c0" format="ixt:fixed-false" name="dei:DocumentTransitionReport" id="ixv-75"><span><b>&#9744;</b></span></ix:nonNumeric> <b>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"> <b>OR</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>&#160;</b></p><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <ix:nonNumeric contextRef="c0" format="ixt:fixed-false" name="dei:DocumentShellCompanyReport" id="ixv-90"><span><b>&#9744;</b></span></ix:nonNumeric> <b>SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Date of event requiring this shell company
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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><b>For the transition period from __________________
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>&#160;</b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><ix:nonNumeric contextRef="c0" name="dei:EntityRegistrantName" id="ixv-114"><b>ELLOMAY CAPITAL LTD.</b></ix:nonNumeric></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as specified in its charter)</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><span style="-sec-ix-hidden: hidden-fact-0">ISRAEL</span></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Jurisdiction of incorporation or organization)</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><ix:nonNumeric contextRef="c0" name="dei:EntityAddressAddressLine1" id="ixv-64423">18 Rothschild Boulevard</ix:nonNumeric>, <ix:nonNumeric contextRef="c0" name="dei:EntityAddressAddressLine2" id="ixv-133">1<sup>st</sup> floor</ix:nonNumeric></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><ix:nonNumeric contextRef="c0" name="dei:EntityAddressCityOrTown" id="ixv-64424">Tel Aviv</ix:nonNumeric> <ix:nonNumeric contextRef="c0" name="dei:EntityAddressPostalZipCode" id="ixv-64425">6688121</ix:nonNumeric>, <ix:nonNumeric contextRef="c0" format="ixt-sec:countrynameen" name="dei:EntityAddressCountry" id="ixv-64426">Israel</ix:nonNumeric></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><ix:nonNumeric contextRef="c1" name="dei:ContactPersonnelName" id="ixv-64427">Kalia Rubenbach</ix:nonNumeric>, Chief Financial Officer</b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><ix:nonNumeric contextRef="c1" name="dei:EntityAddressAddressLine1" id="ixv-64428">18 Rothschild Boulevard</ix:nonNumeric>, <ix:nonNumeric contextRef="c1" name="dei:EntityAddressAddressLine2" id="ixv-155">1<sup>st</sup> floor</ix:nonNumeric></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><b><ix:nonNumeric contextRef="c1" name="dei:EntityAddressCityOrTown" id="ixv-64429">Tel Aviv</ix:nonNumeric> <ix:nonNumeric contextRef="c1" name="dei:EntityAddressPostalZipCode" id="ixv-64430">6688121</ix:nonNumeric>, <ix:nonNumeric contextRef="c1" format="ixt-sec:countrynameen" name="dei:EntityAddressCountry" id="ixv-64431">Israel</ix:nonNumeric><br/>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Securities registered or to be registered pursuant
to Section 12(b) of the Act:</p><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 1.5pt solid; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; vertical-align: bottom; width: 32%; text-align: center; text-indent: 0pt"><span style="font-size: 10pt">Title of each class</span></td> <td style="text-align: center; padding: 0pt 0pt 1.5pt; width: 2%; text-indent: 0pt; vertical-align: bottom">&#160;</td> <td style="border-bottom: Black 1.5pt solid; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; vertical-align: bottom; width: 32%; text-align: center; text-indent: 0pt"><span style="font-size: 10pt">Trading Symbol</span></td> <td style="text-align: center; padding: 0pt 0pt 1.5pt; width: 2%; text-indent: 0pt; vertical-align: bottom">&#160;</td> <td style="border-bottom: Black 1.5pt solid; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; vertical-align: bottom; width: 32%; text-align: center; text-indent: 0pt"><span style="font-size: 10pt">Name of each exchange on which registered</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding: 0pt; vertical-align: bottom; text-align: center; text-indent: 0pt"><ix:nonNumeric contextRef="c0" name="dei:Security12bTitle" id="ixv-180"><span style="font-size: 10pt">Ordinary Shares, par value NIS 10.00 per share</span></ix:nonNumeric></td> <td style="padding: 0pt; text-indent: 0pt">&#160;</td> <td style="padding: 0pt; vertical-align: top; text-align: center; text-indent: 0pt"><ix:nonNumeric contextRef="c0" name="dei:TradingSymbol" id="ixv-184"><span style="font-size: 10pt">ELLO</span></ix:nonNumeric></td> <td style="padding: 0pt; text-indent: 0pt">&#160;</td> <td style="padding: 0pt; vertical-align: top; text-align: center; text-indent: 0pt"><span style="font-size: 10pt"><ix:nonNumeric contextRef="c0" name="dei:SecurityExchangeName" id="ixv-64432">NYSE</ix:nonNumeric> American LLC</span></td></tr> </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Securities registered or to be registered pursuant
to Section 12(g) of the Act:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">None</p><div>

</div><!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 20%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Title of Class</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Securities for which there is a reporting obligation
pursuant to Section 15(d) of the Act:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">None</p><div>

</div><!-- Field: Rule-Page --><div style="margin: 0pt auto; width: 20%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Title of Class</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><div>

</div><!-- Field: Page; Sequence: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="margin: 0pt">&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Indicate the number of outstanding
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ordinary shares, NIS 10.00 par value per share.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Indicate by check mark if the registrant is a
well-known seasoned issuer, as defined in Rule 405 of the Securities Act.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-align: right; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-align: right; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes
&#9744;</span> <ix:nonNumeric contextRef="c0" name="dei:EntityWellKnownSeasonedIssuer" id="ixv-64434">No</ix:nonNumeric> <span>&#9745;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If this report is an annual or transition report,
indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-align: right; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-align: right; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes
&#9744; <ix:nonNumeric contextRef="c0" name="dei:EntityVoluntaryFilers" id="ixv-64435">No</ix:nonNumeric> </span><span style=" font-size: 10pt">&#9745;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Indicate by check mark whether
the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. </p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-align: right; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-align: right; text-indent: 0.5in"><ix:nonNumeric contextRef="c0" name="dei:EntityCurrentReportingStatus" id="ixv-64436">Yes</ix:nonNumeric> <span>&#9745; </span>No &#9744;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Indicate by check mark whether
the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T
(&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit
and post such files).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-align: right; text-indent: 0.5in"><ix:nonNumeric contextRef="c0" name="dei:EntityInteractiveDataCurrent" id="ixv-64437">Yes</ix:nonNumeric> <span>&#9745;</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;No
&#9744;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition
of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of
the Exchange Act. (Check one):</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 25%; text-align: justify; text-indent: 0in"><span style="font-size: 10pt">Large accelerated filer &#9744;</span></td> <td style="width: 25%; text-align: justify; text-indent: 0in"><span style="font-size: 10pt"><ix:nonNumeric contextRef="c0" format="ixt-sec:entityfilercategoryen" name="dei:EntityFilerCategory" id="ixv-64438">Accelerated filer</ix:nonNumeric> <span>&#9745;</span></span></td> <td style="width: 25%; text-align: justify; text-indent: 0in"><span style="font-size: 10pt">Non-accelerated filer &#9744;</span></td> <td style="width: 25%; text-align: justify; text-indent: 0in"><span style="font-size: 10pt">Emerging growth company <ix:nonNumeric contextRef="c0" format="ixt:fixed-false" name="dei:EntityEmergingGrowthCompany" id="ixv-64439">&#9744;</ix:nonNumeric></span></td></tr> </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If an emerging growth company that prepares its
financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition
period for complying with any new or revised financial accounting standards&#8224; provided pursuant to Section 13(a) of the Exchange
Act. &#9744;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left">&#8224;</td><td style="text-align: justify">The term &#8220;new or revised financial accounting standard&#8221;
refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
has filed a report on and attestation to its management&#8217;s assessment of the effectiveness of its internal control over financial
reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or
issued its audit report. <ix:nonNumeric contextRef="c0" format="ixt:fixed-true" name="dei:IcfrAuditorAttestationFlag" id="ixv-306"><span>&#9745;</span></ix:nonNumeric></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If securities are registered
pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing
reflect the correction of an error to previously issued financial statements. &#160;<ix:nonNumeric contextRef="c0" format="ixt:fixed-true" name="dei:DocumentFinStmtErrorCorrectionFlag" id="ixv-312"><span>&#9745;</span></ix:nonNumeric></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Indicate by check mark whether
any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of
the registrant&#8217;s executive officers during the relevant recovery period pursuant to &#167;240.10D-1(b).&#160;<ix:nonNumeric contextRef="c0" format="ixt:fixed-false" name="dei:DocumentFinStmtRestatementRecoveryAnalysisFlag" id="ixv-64440">&#9744;</ix:nonNumeric></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Indicate by check mark which
basis of accounting the registrant has used to prepare the financial statements included in this filing:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 25%; text-align: right; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. GAAP &#9744;</span></td> <td style="width: 50%; text-align: center; text-indent: 0in"><span style="font-size: 10pt"><ix:nonNumeric contextRef="c0" name="dei:DocumentAccountingStandard" id="ixv-64441">International Financial Reporting Standards</ix:nonNumeric>
as issued <span>&#9745;</span></span></td> <td style="width: 25%; text-align: left; text-indent: 0in"><span style="font-size: 10pt">Other &#9744;</span></td></tr> <tr style="vertical-align: top"> <td style="text-align: center; text-indent: 0in">&#160;</td> <td style="text-align: center; text-indent: 0in"><span style="font-size: 10pt">by the International Accounting Standards Board</span></td> <td style="text-align: center; text-indent: 0in">&#160;</td></tr> </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If &#8220;Other&#8221; has been
checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-align: right; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-align: right; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
17 &#9744; Item 18 &#9744;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify">If this is an annual report, indicate by check
mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act):</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-align: right; text-indent: 0.5in">Yes&#160;&#9744;&#160;No <ix:nonNumeric contextRef="c0" format="ixt:fixed-false" name="dei:EntityShellCompany" id="ixv-356"><span>&#9745;</span></ix:nonNumeric></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><sup>1</sup></b></span></td><td style="text-align: justify">Does not include a total of 258,046 ordinary shares held at
that date as treasury shares under Israeli law, all of which were repurchased by Ellomay. For so long as such treasury shares are owned
by Ellomay they have no rights and, accordingly, are neither eligible to participate in or receive any future dividends which may be
paid to Ellomay&#8217;s shareholders nor are they entitled to participate in, be voted at or be counted as part of the quorum for, any
meetings of Ellomay&#8217;s shareholders.</td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="margin: 0pt">&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">EXPLANATORY NOTE</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 35.45pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the financial statements
included in this Report, comparative amounts of other comprehensive income were retrospectively classified in order to present the change
in fair value of cash flow hedges transferred to profit or loss, which resulted in approximately &#8364;37.3 million and &#8364;21.8 million
being reclassified for the years ended December 31, 2022 and 2021, respectively, from Effective portion of change in fair value of cash
flow hedges to Net change in fair value of cash flow hedges transferred to profit or loss.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This retrospective classification
did not have any effect on our profit (loss) and on our total other comprehensive income (loss) for these years.</p><div>




</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><div>

</div><!-- Field: Page; Sequence: 3 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.5in; text-align: center; text-indent: -5.5in">Table of Contents</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="padding-bottom: 1.5pt; width: 10%; text-align: center"/>
    <td style="padding-bottom: 1.5pt; width: 81%; text-align: center">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: center"><b>Page</b></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td colspan="2" style="text-align: justify"><a href="#aa_001">Introduction</a></td>
    <td style="text-align: center">iii</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td colspan="2" style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td colspan="2" style="text-align: justify"><a href="#aa_002">Forward-Looking Statements</a></td>
    <td style="text-align: center">iv</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td colspan="2" style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td colspan="2" style="text-align: justify"><a href="#aa_003">Summary of Risk Factors</a></td>
    <td style="text-align: center">v</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td colspan="2" style="text-align: left">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td colspan="3" style="text-align: center"><b><a href="#aa_004">Part I</a></b></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 1:</td>
    <td style="text-align: justify"><a href="#aa_005">Identity of Directors, Senior Management and Advisers</a></td>
    <td style="text-align: center">1</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 2:</td>
    <td style="text-align: justify"><a href="#aa_006">Offer Statistics and Expected Timetable</a></td>
    <td style="text-align: center">1</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 3:</td>
    <td style="text-align: justify"><a href="#aa_007">Key Information</a></td>
    <td style="text-align: center">1</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 4:</td>
    <td style="text-align: justify"><a href="#aa_008">Information on Ellomay</a></td>
    <td style="text-align: center">19</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 4A:</td>
    <td style="text-align: justify"><a href="#aa_009">Unresolved Staff Comments</a></td>
    <td style="text-align: center">103</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 5:</td>
    <td style="text-align: justify"><a href="#aa_010">Operating and Financial Review and Prospects</a></td>
    <td style="text-align: center">103</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 6:</td>
    <td style="text-align: justify"><a href="#aa_011">Directors, Senior Management and Employees</a></td>
    <td style="text-align: center">129</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 7:</td>
    <td style="text-align: justify"><a href="#aa_012">Major Shareholders and Related Party Transactions</a></td>
    <td style="text-align: center">147</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 8:</td>
    <td style="text-align: justify"><a href="#aa_013">Financial Information</a></td>
    <td style="text-align: center">154</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 9:</td>
    <td style="text-align: justify"><a href="#aa_014">The Offer and Listing</a></td>
    <td style="text-align: center">155</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 10:</td>
    <td style="text-align: justify"><a href="#aa_015">Additional Information</a></td>
    <td style="text-align: center">155</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 11:</td>
    <td style="text-align: justify"><a href="#aa_016">Quantitative and Qualitative Disclosures about Market Risk</a></td>
    <td style="text-align: center">172</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 12:</td>
    <td style="text-align: justify"><a href="#aa_017">Description of Securities Other than Equity Securities</a></td>
    <td style="text-align: center">172</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify"><span style="font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td colspan="3" style="text-align: center"><b><a href="#aa_018">Part II</a></b></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 13:</td>
    <td style="text-align: justify"><a href="#aa_019">Defaults, Dividend Arrearages and Delinquencies</a></td>
    <td style="text-align: center">174</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 14:</td>
    <td style="text-align: justify"><a href="#aa_020">Material Modifications to the Rights of Security Holders and Use of Proceeds</a></td>
    <td style="text-align: center">174</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 15:</td>
    <td style="text-align: justify"><a href="#aa_021">Controls and Procedures</a></td>
    <td style="text-align: center">174</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 16:</td>
    <td style="text-align: justify"> <a href="#aa_022">[Reserved]</a></td>
    <td style="text-align: center">175</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 16A:</td>
    <td style="text-align: justify"><a href="#aa_023">Audit Committee Financial Expert</a></td>
    <td style="text-align: center">175</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 16B:</td>
    <td style="text-align: justify"><a href="#aa_024">Code of Ethics</a></td>
    <td style="text-align: center">175</td></tr>
</table><div>

</div><p style="margin: 0">&#160;</p><div>

</div><p style="margin: 0"></p><div>

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</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify; width: 10%">Item 16C:</td>
    <td style="text-align: justify; width: 81%"><a href="#aa_025">Principal Accountant Fees and Services</a></td>
    <td style="text-align: center; width: 9%">175</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 16D:</td>
    <td style="text-align: justify"><a href="#aa_026">Exemptions from the Listing Standards for Audit Committees</a></td>
    <td style="text-align: center">176</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 16E:</td>
    <td style="text-align: justify"><a href="#aa_027">Purchases of Equity Securities by the Company and Affiliated Purchasers</a></td>
    <td style="text-align: center">176</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 16F:</td>
    <td style="text-align: justify"><a href="#aa_028">Change in Registrant&#8217;s Certifying Accountants</a></td>
    <td style="text-align: center">176</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 16G:</td>
    <td style="text-align: justify"><a href="#aa_029">Corporate Governance</a></td>
    <td style="text-align: center">176</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 16H:</td>
    <td style="text-align: justify"><a href="#aa_030">Mine Safety Disclosure</a></td>
    <td style="text-align: center">177</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 16I:</td>
    <td style="text-align: justify"><a href="#aa_031">Disclosure regarding Foreign Jurisdictions that Prevent Inspections</a></td>
    <td style="text-align: center">177</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 16J:</td>
    <td style="text-align: justify"><a href="#aa_032">Insider Trading Policies</a></td>
    <td style="text-align: center">177</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 16K:</td>
    <td style="text-align: justify"><a href="#aa_033">Cybersecurity</a></td>
    <td style="text-align: center">177</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td colspan="3" style="text-align: center"><b><a href="#aa_034">Part III</a></b></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 17:</td>
    <td style="text-align: justify"><a href="#aa_034">Financial Statements</a></td>
    <td style="text-align: center">179</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 18:</td>
    <td style="text-align: justify"><a href="#aa_035">Financial Statements</a></td>
    <td style="text-align: center">179</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Item 19:</td>
    <td style="text-align: justify"><a href="#aa_036">Exhibits</a></td>
    <td style="text-align: center">179</td></tr>
  </table><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-style: normal"><img alt="" src="image_001.jpg"/>&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-style: normal">&#160;</span></p><div>

</div><div><a id="aa_001"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">INTRODUCTION</p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><span style="font-style: normal">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is the Report
on Form 20-F of Ellomay Capital Ltd., or the Report. Unless the context in which such terms are used would require a different meaning,
all references to &#8220;Ellomay,&#8221; &#8220;us,&#8221; &#8220;we,&#8221; &#8220;our&#8221; or the &#8220;Company&#8221; refer to Ellomay
Capital Ltd. and its consolidated subsidiaries.</p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-style: normal">&#160;</span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-style: normal">All
references to &#8220;&#8364;,&#8221; &#8220;euro&#8221; or &#8220;EUR&#8221; are to the legal currency of the European Union, or EU, all
references to &#8220;NIS&#8221; or &#8220;New Israeli Shekel&#8221; are to the legal currency of Israel and all references to &#8220;$,&#8221;
&#8220;dollar,&#8221; &#8220;US$,&#8221; &#8220;USD&#8221; or &#8220;U.S. dollar&#8221; are to the legal currency of the United States
of America. Other than as specifically noted, all amounts translated into a different currency were translated based on the relevant exchange
rate as of December 31, 2023.</span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-style: normal">&#160;</span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-style: normal">We
prepare our consolidated financial statements in accordance with International Financial Reporting Standards, or IFRS, as issued by the
International Accounting Standards Board, or IASB. </span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-style: normal">&#160;</span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-style: normal">All
trademarks, service marks, trade names and registered marks used in this Report are trademarks, trade names or registered marks of their
respective owners.</span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><span style="font-style: normal">&#160;</span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-style: normal">Statements
made in this Report concerning the contents of any agreement, contract or other document are summaries of such agreements, contracts or
documents and are not complete description of all of their terms. If we filed any of these agreements, contracts or documents as exhibits
to this report or to any previous filing with the Securities and Exchange Commission, or SEC, you may read the document itself for a complete
understanding of its terms.</span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><span style="font-style: normal">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>INDUSTRY AND MARKET DATA</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-style: normal">This
Report contains and incorporates by reference market data, industry statistics, and other data that have been obtained from, or compiled
from, information made available by third parties. Although we believe these third-party sources are reliable, we have not independently
verified the information. Except as may otherwise be noted, none of the sources cited in this report has consented to the inclusion of
any data from its reports, nor have we sought their consent. In addition, some data are based on our good faith estimates. Such estimates
are derived from publicly available information released by independent industry analysts and third-party sources, as well as our own
management&#8217;s&#160;experience in the industry, and are based on assumptions made by us based on such data and our knowledge of such
industry and markets, which we believe to be reasonable. However, none of our estimates have been verified by any independent source.
See &#8220;Forward-Looking Statements&#8221; below.</span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

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</div><div><a id="aa_002"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">FORWARD-LOOKING STATEMENTS</p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to historical
information, this report on Form 20-F contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933,
as amended, or the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Some of the
statements under &#8220;Item 3.D: Risk Factors,&#8221; &#8220;Item 4: Information on Ellomay,&#8221; &#8220;Item 5: Operating and Financial
Review and Prospects&#8221; and elsewhere in this Report, constitute forward-looking statements. Forward-looking statements reflect our
current view about future plans, intentions or expectations. These statements relate to future events or other future financial performance,
plans strategies and prospects, and are identified by terminology such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221;
&#8220;expect,&#8221; &#8220;scheduled,&#8221; &#8220;plan,&#8221; &#8220;intend,&#8221; &#8220;anticipate,&#8221; &#8220;believe,&#8221;
&#8220;estimate,&#8221; &#8220;aim,&#8221; &#8220;potential,&#8221; or &#8220;continue&#8221; or the negative of those terms or other
comparable terminology, but the absence of these words does not mean that a statement is not forward-looking.</p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The forward-looking
statements contained in this Report are based on current expectations and beliefs concerning future developments and the potential effects
on our business. There can be no assurance that future developments actually affecting us will be those anticipated. These forward-looking
statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially
different from those expressed or implied by these forward-looking statements.</p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Assumptions included
in this Report involve judgment with respect to, among other things, future economic, competitive and market conditions, and future business
decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. In light of the significant
uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as
a representation by us or any other person that our objectives or plans will be achieved. Factors that could cause actual results to differ
from our expectations or projections include the risks and uncertainties relating to our business described in this Report under &#8220;Item
3.D: Risk Factors,&#8221; &#8220;Item 4: Information on Ellomay,&#8221; &#8220;Item 5: Operating and Financial Review and Prospects&#8221;
and elsewhere in this Report. In addition, new factors emerge from time to time, and it is not possible for management to predict all
such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may
cause results to differ materially from those contained in any forward-looking statements. Readers are cautioned not to place undue reliance
on these forward-looking statements, which reflect management&#8217;s analysis as of the date hereof. We undertake no obligation to publicly
revise these forward-looking statements to reflect events or circumstances that arise after the date hereof, except as required by applicable
law. In addition to the disclosure contained herein, readers should carefully review any disclosure of risks and uncertainties contained
in other documents that we file from time to time with the SEC.</p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>To the extent that this
Report contains forward-looking statements (as distinct from historical information), we desire to take advantage of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995 and we are therefore including this statement for the express purpose of availing
ourselves of the protections of the safe harbor with respect to all forward-looking statements. </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><div><a id="aa_003"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">SUMMARY OF RISK FACTORS</p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-style: normal">Our
business is subject to numerous risks and uncertainties, including those described in Item 3.D &#8220;Risk Factors.&#8221; You should
carefully consider these risks and uncertainties when investing in our ordinary shares. Principal risks and uncertainties affecting our
business include the following:</span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-style: normal">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">risks related to projects that are in the development stage, among other issues due to the inability to
obtain or maintain licenses or project finance;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">regulatory
                                            changes and government interventions impacting electricity prices and other changes in electricity
                                            prices, including their impact on the fair value of financial instruments and assets;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">weather
                                            conditions and various meteorological and geographic factors;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            EPC contractors&#8217; and our other contractors&#8217;, suppliers&#8217; and service providers&#8217;
                                            technical, professional and financial ability to construct, install, test and commission
                                            a renewable energy plant and to provide us with the required services and support, including
                                            operation and maintenance, or O&amp;M, undertakings in connection with the development, construction
                                            and operation of our renewable energy plants;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            availability of financial incentives, government subsidies and governmental regulations on
                                            our operating renewable energy projects and projects under development and the potential
                                            reduction or elimination, including retroactive amendments, of the government subsidies and
                                            economic incentives applicable to, or amendments to regulations governing the, renewable
                                            energy markets in which we operate or to which we may in the future enter;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">defects
                                            in the components of the renewable energy plants we operate or theft of various components;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            ability to meet our obligations, undertakings and financial covenants under various financing
                                            agreements, including to our debenture holders, our ability to raise additional equity, debt
                                            or other types of financing in the future and the limitations imposed on us in the deeds
                                            of trust governing our debentures;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">risks
                                            due to our current debt, which has increased in recent years, and future debt;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            inability to generate a positive cashflow from our operations;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">risks relating to operations in foreign countries, including cross currency movements, payment cycles
and existing and changing tax arrangements, rules, requirements and international initiatives;</td></tr></table><div>

</div><p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            inability to locate land suitable or sufficient for the needs of the projects that we develop
                                            and potential disagreements with landowners;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify">p<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">otential
effects of the war and hostilities in Israel on our Israeli operations, projects under development and headquarters;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">natural
                                            disasters, terrorist attacks, other catastrophic events, cyber attacks and information technology
                                            or telecommunication system disruptions;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">changes
                                            in the prices of the components or raw materials required for the production of renewable
                                            energy;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></p><div>

</div><!-- Field: Page; Sequence: 8; Value: 3 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->v<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            dependency on revenues and cash flows from the Talasol PV Plant;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">risks
                                            in connection with our Waste-to-Energy, or WtE, plants in the Netherlands, including shortages,
                                            insufficient quality or changes in prices of raw materials, increase in delivery prices and
                                            environmental and other regulatory changes;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">risks
                                            relating to our Israeli operations, including the centralized electricity market and exposure
                                            to damages due to hostile attacks;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            risks we are exposed to due to our holdings in Ellomay Luzon Energy Infrastructures Ltd.
                                            (f/k/a U. Dori Energy Infrastructures Ltd.), or Ellomay Luzon Energy and Dorad Energy Ltd.,
                                            or Dorad, including risk factors generally applicable to electricity manufacturers and our
                                            joint control of Ellomay Luzon Energy and lack of control of Dorad, restrictions on our right
                                            to transfer our holdings in Ellomay Luzon Energy, regulatory changes applicable to Dorad,
                                            shortages of gas, exposure to changes in the Israeli consumer price index and exchange rates
                                            and involvement in legal proceedings;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            market, economic and political factors in the countries in which we operate;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            ability to&#160;maintain expertise in the energy market, and to track, monitor and manage
                                            the projects which we have undertaken, including the impact of competition and changes in
                                            the renewable energy markets;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">future
                                            disagreements with our partners who own a portion of our renewable energy plants;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">fluctuations
                                            in the value of currency and interest rates;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">risks
                                            related to our incorporation and location in Israel, including security risks and political
                                            risks;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">risks
                                            related to economic uncertainty and exposure to the impact of the military conflict between
                                            Russia and Ukraine;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            plans with respect to the management of our financial and other assets and our ability to
                                            identify, evaluate and consummate additional suitable business opportunities and strategic
                                            alternatives;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we
                                            are controlled by a small group of shareholders and, as a foreign private issuer, may rely
                                            on home country practices with respect to certain matters;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            price, market liquidity and volatility of our ordinary shares, potential future dilutions
                                            and listing on two markets;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">dependency
                                            on key management and personnel;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            inability to maintain effective internal controls over financial reporting;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">impact
                                            of provisions of Israeli law on our shareholders&#8217; ability to enforce US judgements
                                            on us, on the ability to acquire us or a controlling position in our company, on rights and
                                            obligations of shareholders; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">exposure
                                            to legal and administrative proceedings and tax audits.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></p><div>

</div><!-- Field: Page; Sequence: 9; Value: 3 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->vi<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><div><a id="aa_004"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: center; text-indent: -21.25pt">PART I</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="aa_005"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 1:
Identity of Directors, Senior Management and Advisers</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="aa_006"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 2:
Offer Statistics and Expected Timetable</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="aa_007"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 3:
Key Information</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <b>A. [Reserved]</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <b>B. Capitalization and Indebtedness</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <b>C. Reasons for the Offer and Use of Proceeds</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <b>D. Risk Factors</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Investing in our securities
involves significant risk and uncertainty. You should carefully consider the risks and uncertainties described below as well as the other
information contained in this Report before making an investment decision with respect to our securities. If any of the following risks
actually occurs, our business, financial condition, prospects, results of operations and cash flows could be harmed <span style="font-size: 10pt">and
could therefore have a negative effect on the trading price of our securities</span>.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>The risks described below
are the material risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial
may also materially adversely affect our business, financial condition, or results of operations in the future</i>.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Risks Related to our Business</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Risks Related to our Renewable Energy Operations
</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>In recent years, we entered
the development and entrepreneurship renewable energy market. These operations are exposed to regulatory and other development risks that
may cause such projects not to enter the construction phase and other risks that may cause damages, delays and interruptions during the
construction phase, and thereby cause the total or partial loss of the project development funds invested in the project.</b> We are currently
active in several projects in various development and construction stages, including the construction of a 156 Mega Watt, or MW, pumped
storage project in the Manara Cliff in Israel, or the Manara PSP, and the development of various PV projects in Italy, Spain, Israel and
the United States. Projects in the development stages are exposed to various risks, including the inability to obtain or maintain regulatory
permits and approvals and the inability to obtain financing (whether from lending institutions or tax equity partners, as applicable),
upon terms economically beneficial or at all. Projects in the construction stage are exposed to various risks, including delays in the
construction, interferences from third parties such as adjacent plot owners, residents living in the vicinity, governmental, municipal,
environmental and other authorities, malfunctions in construction equipment, shortage in equipment or personnel required for the construction
and damage caused by weather conditions and other factors that we cannot control. All projects in the development and construction stages
are subject to additional risks, including changes to existing regulation that could reduce the potential profitability of such projects,
potential disagreements and conflicts with partners, dependency on technical consultants, and risks associated with operations in foreign
countries, as applicable. If any of these risks materialize, the entire project may be delayed or cancelled altogether, causing the loss
of all part of the funds invested in the project development efforts and the impairment of some or all of the capitalized investments
we made in connection with the project. Such impairment would have an adverse impact on our financial position. Even if we succeed in
selling our rights in a project to third parties, the return of our project development expenses will likely be conditioned upon the continued
development of the project by such third parties.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Existing regulations, and
changes to such regulations, may present&#160;technical, regulatory and economic barriers and restrictions to the construction and operation
of renewable energy plants, which may adversely affect our operations</b>. The installation and operation of renewable energy plants is
subject to oversight and regulation in accordance with international, European (to the extent applicable), national and local ordinances,
building codes, zoning (or permitting), environmental protection regulation, including waste disposal regulations, utility interconnection
requirements, security requirements and other rules and regulations. Any changes in applicable regulations that increase the burdens or
restrictions on the operation of our renewable energy plants could increase our costs of operation and, as a result, adversely affect
our results of operations. In addition, various governmental, municipal and other regulatory entities require the issuance and continued
effectiveness of relevant permits, licenses and authorizations for the construction and operation of renewable energy plants. If such
permits, licenses and authorizations are not timely issued, it could result in the interruption, cessation or abandonment of a newly constructed
renewable energy plant or may require significant changes to such renewable energy plant, any of which may cause severe losses. In addition,
if issued, these licenses and permits may be revoked by the authorities following their issuance in the event the authorities discover
irregularities or deviations from the scope of the license or permit. Any revocation of existing licenses may obligate us to cease constructing
or operating the relevant renewable energy plant for the period required to renew the relevant license or indefinitely and therefore will
adversely affect our business and results of operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Government interventions
in response to high energy prices may negatively impact revenues or increase our tax burden. </b>European countries responded, during
2021 and 2022, to the increased energy prices experienced by adopting several measures aimed at reducing or limiting the profits of renewable
energy manufacturers through taxes or other regulatory arrangements. For example, Spain introduced a reduction mechanism for excess remuneration
resulting from the high price of natural gas during 2021-2022 and Italy introduced a set of laws aimed at reducing excess remuneration.
This Spanish regulation mainly impacted our operating profit from the 300 MW photovoltaic plant in the municipality of Talav&#225;n,
C&#225;ceres, Spain, which was connected to the Spanish national grid in December 2020, or the Talasol PV Plant (with respect to the
portion of revenues not subject to the <span style="font-family: Times New Roman, Times, Serif">financial power swap executed in connection
with the Talasol PV Plant, or the Talasol PPA),</span> and from our Spanish 28 MW photovoltaic plant, or the Ellomay Solar PV Plant. Although
the electricity prices in Spain and Italy decreased during 2023, future changes and increases in electricity prices in Spain, Italy and
other countries or areas in which our plants are located could cause local regulators to adopt new measures aimed at limiting the profitability
of renewable energy manufacturers. These measures may include caps on energy prices, changes to price formulations and the proposal of
windfall taxes on energy companies, including companies that generate renewable energy. It is possible these measures may intensify and
be adopted by other countries in which we operate will operate in the future in which case it could materially affect our financial results.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>A drop in the price of
energy may negatively impact our results of operations.</b> The revenue from the sale of energy produced by renewable energy plants is
based on proceeds from the sale of electricity and gas produced in the electricity and gas market at market price and sometimes also includes
incentives in the form of governmental subsidies or fixed tariffs. Previous revisions to the governmental subsidies&#8217; regime in several
countries, including Spain, Italy and Israel, which reduced or eliminated the scope of the incentives paid by governments, increased the
dependency of renewable energy plants on market prices or on tariffs determined in a public bid process. Many factors impact the prices
of electricity, including demand, the cost of alternative energy, such as natural gas and fuel, introduction of competing manufacturers
and technologies and regulatory changes imposing caps on prices or otherwise impacting the profitability of energy manufacturers. A decrease
in the price of electricity and gas, particularly in the countries in which we operate and in which some of our revenues are based on
the market price of electricity and gas, may negatively impact our profitability and our ability or interest to expand our renewable energy
operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>The success of our renewable
energy plants, from their construction through their commissioning and ongoing commercial operation, depends to a large extent on the
cooperation, reliability, solvency, and proper performance of the contractors we engage for the construction, operation and maintenance
of our renewable energy plants, or the Contractors, and of the other third parties involved in the construction and operation of the plants,
including technical consultants, subcontractors, local advisors, financing entities, land owners, suppliers of feedstock, suppliers of
solar panels and other components of a PV system, the energy grid regulator, governmental agencies and potential purchasers of electricity.
</b>The construction and operation of a renewable energy plant requires timely input, often of a highly specialized technical nature,
and cooperation from several parties, including the suppliers of the various system components (such as solar panels or CHP engine) and
plant operators, other suppliers of relevant parts and materials (including replacement parts), feedstock suppliers, suppliers of solar
panels and other components of a PV system, land owners, subcontractors, electricity brokers, financing entities (including tax equity
partners) and governmental and related agencies (as subsidizers and as regulators). If we fail to obtain such input or cooperation, or
fail to locate suitable suppliers, equipment, land or other components required in order to efficiently and timely construct or operation
a renewable energy plant, the specific project and our results of operations may be materially adversely affected. In addition, as we
use Contractors to construct and thereafter operate and maintain our renewable energy plants, we depend on the Contractors&#8217; expertise
and experience, representations, warranties and undertakings regarding, <i>inter alia</i>: the construction quality, schedule of construction,
operation, maintenance and performance of each of the plants, the use of high-quality materials, strict compliance with applicable legal
requirements and the Contractors&#8217; financial stability. If the Contractors&#8217; representations, warranties or undertakings are
inaccurate or untrue, or if any of the Contractors or other entities fail to perform their obligations properly, this could result in
the interruption or cessation of construction or operations or abandonment of the relevant plant, or may require significant expenses
to mitigate the damages or repair them, any of which may cause us severe losses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Our business is affected
by the availability of financial incentives and supporting regulation. The reduction or elimination of government subsidies and economic
incentives could reduce our profitability and our revenues. </b>Many countries, such as Spain, Italy, the Netherlands, Israel and the
United States, previously introduced substantial incentives to offset the cost of renewable energy production, including photovoltaic
power systems and WtE technologies, in the form of Feed-in-Tariff, or FiT, green certificates, tax credits or other incentives aimed at
promoting the use of clean energy (including solar energy and biogas) and reducing dependence on other forms of energy. In addition, several
countries encourage manufacturers and farmers to choose waste management methods that are more environmentally-friendly, either by establishing
fines on non-environmentally friendly waste management methods or by payment of incentives. Certain of these government incentives were
reduced or eliminated in the past years (for example with respect to photovoltaic installations in Italy and Spain) and the remaining
incentives could potentially be reduced or eliminated in the future. If the governments in the countries in which we operate facilities
that are entitled to incentives elect to revise the existing incentive schemes to reduce incentives, or in case of future deterioration
in the financial position of the local governments resulting in partial or no payment or in regulatory changes, it may adversely affect
our profitability from projects that receive incentives.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>The performance of our
renewable energy plants depends on the quality of the equipment installed in such plants and on the reliability of the suppliers of spare
and replacement parts. </b> The performance of our renewable energy plants depends on the quality of the components of the plants and
the equipment installed in the plants. Any defects or deterioration in the quality of such components and equipment could harm our results
of operations, and if we will not be able to quickly locate quality replacement parts or perform repairs, our results of operations could
be adversely affected for a long period of time. For example, the performance of our photovoltaic plants, or the PV Plants, depends on
the quality of the solar panels installed. Degradation in the performance of the solar panels above a certain level is guaranteed by the
panel suppliers and we generally receive undertakings from the Contractors with respect to minimum performances. Therefore, a critical
factor in the success of our PV Plants is the existence of reliable solar panel suppliers, who guarantee the performance and quality of
the solar panels supplied and their ability to provide us with replacement and spare parts that are of sufficient quality. If the suppliers
of solar panels do not meet their undertakings under the guarantees and no replacement panels are available at a reasonable price, it
could result in the interruption, cessation or abandonment of the relevant PV Plant, or may require significant expenses to mitigate the
damages or repair them, any of which may cause us severe losses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>In the event we are unable
to comply with the obligations and undertakings, including with respect to financial covenants, which we undertook in connection with
the project financing of our renewable energy plants, our results of operations may be adversely affected. </b>In connection with the
financing of some of our PV Plants, our WtE plants, and the Manara PSP, we entered into long-term agreements with various financing entities
and may in the future enter into additional project finance agreements, for example, the projects currently under development in Italy.
The financing agreements include, and future project finance agreements are expected to include, <i>inter alia</i>, undertakings and financial
covenants, the majority of which are based on the ongoing income derived from the relevant plant, which may be adversely affected by the
various risks detailed herein. If we fail to comply with any of these undertakings and covenants, we may be subject to penalties, future
financing requirements, and the acceleration of the repayment of debt. These occurrences would adversely affect our financial position
and results of operations and our ability to obtain outside financing for other projects.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>As a substantial part of
our business is currently located in Europe, we are subject to additional risks that may negatively impact our operations.</b> We currently
have substantial PV operations in Spain and in Italy and WtE operations in the Netherlands, all of which are held by our wholly-owned
Luxembourg subsidiary, <span style="font-family: Times New Roman, Times, Serif">Ellomay Luxembourg Holdings </span>S.&#224;r.l, or Ellomay
Luxembourg, and may make additional investments in projects located in Europe, such as the development and construction of additional
PV plants in Spain and Italy. Due to these existing operations and any additional future investments, we are subject to special considerations
or risks associated with companies operating in other jurisdictions, including rules and regulations, cross currency movements, different
payment cycles, tax issues, such as variations in tax laws as compared to Israel, cultural and language differences, crime, strikes, riots,
civil disturbances, terrorist attacks and wars and deterioration of political and economic relations with Israel. Our European operations
subject us to a number of these risks, as well as the requirement to comply with the local laws, such as the Spanish, Italian, Dutch and
EU laws, which could be burdensome to our operations. We cannot assure you that we would be able to adequately address some or all of
these risks. If we were unable to do so, our operations might suffer.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>We may not be able to source
land sufficient or suitable for the development of our projects. We do not own the land on which a substantial portion of the projects
in our portfolio are located. </b>The successful development of a renewable energy project requires obtaining rights, whether ownership
or lease rights, to land suitable for the project, including among other features, its location, size, geological status and the ability
to build, or proximity to, interconnection facilities and transmissions systems. Such land may not always be available to us at all or
under acceptable terms and, if available, may require the execution of long-term leases or other long-term arrangements. The construction
of our facilities requires substantial investments and efforts and as the majority of our projects are located on land owned by third
parties, we are subject to risks in connection with such ownership, including disputes with landowners and with other third parties, such
as creditors of the landowners. Any loss of rights to the land on which our projects are located or constructed could have a material
adverse effect on our business, financial condition and results of operations.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Natural disasters, terrorist
attacks, or other catastrophic events could harm our operations. </b>Our worldwide operations could be subject to natural disasters, terrorist
attacks, public health events and other business disruptions, which could harm our future revenue and financial condition and increase
our costs and expenses. Among others, floods, storms, seismic turbulence and earth movements may damage our projects in operation or under
construction. The insurance coverage we have for a portion of such risks may not cover the damage in full because these circumstances
are sometimes deemed &#8220;acts of god.&#8221; In the event that an earthquake, fire, tsunami, typhoon, terrorist attack, or other natural,
manmade or technical catastrophe were to damage or destroy any part of our plants or those of manufacturers on which we rely, destroy
or disrupt vital infrastructure systems or interrupt our operations or services for any extended period of time, our business, financial
condition and results of operations would be materially and adversely affected.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>An increase in the prices
of components of a renewable energy plant may adversely affect our projects under development, our future growth and our business. </b>Installations
of renewable energy plants have substantially increased over the past few years. The increased demand led to fluctuations in the prices
of the components of the plants resulting from oversupply and undersupply. For example, the increased demand for solar panels resulted
in substantial investments in solar panels production facilities, creating oversupply and a sharp continuing decrease in the prices of
solar panels. However, the&#160;Covid-19 pandemic&#160;and its effects on global&#160;supply chains, since 2020, halted years of solar
panel price cost reductions. The Covid-19 pandemic has put pressure on global supply chains with factory closures, import tariffs, shortages
of raw materials and components, and shipping bottlenecks creating supply chain shortages and delays. It may take several years until
solar module prices stabilize<span style="font-family: Times New Roman, Times, Serif">.</span> Increased costs of replacing components
in our existing plants and of constructing new plants, could potentially delay the commencement or completion of construction of new projects
and may impact the profitability of constructing plants and our ability to expand our business. Also, shortage or delays to deliveries
of vital components can result in construction and installations delays.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>The market for renewable
energy is intensely competitive and rapidly evolving</b>. The market for renewable energy attracts many initiatives and therefore is intensely
competitive. The changes in the renewable energy field, such as the adoption of additional supporting legislation, combined with the impact
of shortage of natural gas and other sources of energy, raised additional awareness and interest in the filed by many market participants,
including private and public companies, investment funds, institutional investors and others. For example, in recent years the Israeli
Electricity Authority commenced issuing licenses to photovoltaic installations in tender processes resulting in a substantial decrease
in prices per KWh in the newly issued licenses and our competitors, who strive to construct new renewable energy plants and acquire existing
plants, may offer lower prices per KWh in future tender processes. Existing and future competition may also impact our ability to obtain
project finance for our facilities. Our competitors may have established more prominent market positions, may have greater resources and
may have more experience in this field than us. Extensive competition may adversely affect our ability to continue to acquire and develop
new plants.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Our success depends in
part on our senior management team and other key employees and our ability to attract, integrate and retain key personnel and qualified
individuals. </b>We depend on the expertise of our senior management team and other key employees to help us meet our strategic objectives.
The inability to maintain our senior management team and other key employees or to attract highly skilled personnel, may materially adversely
affect the implementation of our development business plan and could ultimately adversely impact our business.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>We do not wholly-own a
few of our operating projects and projects under development. Although we currently control these projects, disagreements with our partners
could cause delays in the construction or development of the projects or affect decisions made in connection with operating plants. </b>We
wholly-own all of our operating PV plants and the Netherlands&#8217; WtE plants, except the Talasol PV Plant, of which we hold 51%. We
also own 83.333% of the Manara PSP and may in the future enter into projects that we do not wholly-own or introduce additional partners
to the Manara PSP or other projects under development or to our operating plants. Although we control both the Talasol PV Plant and the
Manara PSP, any disagreement with our partners could affect decisions made in connection with the Manara PSP and the Talasol PV Plant
and may require management resources and attention. Any damages caused due to such disagreements could adversely affect our business plans
and results of operations.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>We may be subject to disruptions
or failures in information technology, telecommunication systems and network infrastructures that could have a material adverse effect
on our business and financial condition. </b>Our renewable energy business relies, among other things, on information technology and on
telecommunication services as we remotely monitor and control our assets and interface with regulatory agencies and wholesale power markets.
Disruptions or failures in such systems may result due to various causes, including internal malfunctions in our systems or in the systems
of third parties such as suppliers, governmental authorities, from employee error, theft or misuse, malfeasance, power disruptions, natural
disasters or accidents and may also result from cyber-attacks or other breaches of information technology security. As a result of Israel&#8217;s
war with Hamas and recent hostilities with the Iranian regime, we also face increased cybersecurity risks associated with the ongoing
conflict and the fact that our headquarters are located in Israel. Such disruptions and failures could have an adverse effect on our business
operations, financial reporting, financial condition and results of operations.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Fluctuations in energy
prices and the resulting changes in the fair value of financial instruments and assets may impact our financial results. </b>Renewable
energy manufacturers, such as our company, may execute financial power swaps or other offtake arrangements that fix the price of the all
or part of the electricity manufactured by a plant. These instruments and the related assets or liabilities are recorded at fair value
in our financial statements. Increases in market prices of electricity generally cause a significant change in the fair value of assets
or liabilities recorded in connection with these instruments and result in decreases in our shareholders equity. For example, as of December
31, 2022, we recorded <span style="background-color: white">current maturities of derivatives in the amount of approximately &#8364;33.2
million as a result of the increase in the fair value of the liability resulting from the Talasol PPA and a similar reduction in our shareholders&#8217;
equity. Although these changes do not impact our cash flow (as the revenues of </span><span style="font-family: Times New Roman, Times, Serif">Talasol
Solar S.L.U, or </span>Talasol<span style="background-color: white">, from the sale of electricity during the same period are expected
to exceed its liability and payments to the PPA provider), there is an impact on our balance sheet and on the other comprehensive income
(loss). Future material fluctuations in the market price of electricity could have a material adverse impact on our financial results
and could further decrease our shareholders&#8217; equity. </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Risks Related to our PV Plants</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Our ability to produce
solar power depends upon the magnitude and duration of sunlight as well as other meteorological and geographic factors. </b>Solar power
production has a seasonal cycle and requires prolonged and strong exposure to sunlight in order to meet the maximum production capacity.
Adverse meteorological conditions, including sever weather conditions such as storms, extensive rain and winds, can damage our photovoltaic
plants or materially impact the output of photovoltaic plants and result in production of electricity below expected output, which in
turn could adversely affect our profitability. Lower electricity output due to changes in meteorological conditions and other geographic
factors may adversely affect our profitability.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>The use of tax equity arrangements
to finance projects will limit certain management rights and operational flexibility with respect to those projects, as well as our rights
to tax credits generated by those projects. </b>We expect that our U.S. projects will have tax equity financing arrangements in place,
which will require us to transfer all or some of the investment tax credits generated by each project to a tax equity investor. To the
extent we want to incur project-level debt at a project in which we transferred the investment tax credits to a tax equity investor, we
may be required to obtain the tax equity investor&#8217;s consent prior to such incurrence. In addition, to avoid the recapture of investment
tax credits, we are required to keep the project in an operational status for at least the first five years of operations and we cannot
reduce our ownership of the project below a certain percentage during this period. As a result, compliance with our obligations to our
tax equity investors may prevent us from making certain business decisions that would have improved our financial position and results
of operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>We are exposed to the possibility
of damages to, or theft of, the various components of our PV Plants. Such occurrences may cause disruptions in the production of electricity
and additional costs. </b>Our PV Plants may suffer damages and disruption in the production of electricity due to theft of panels and
other components, or due to bad weather and land conditions. Although such damages are generally covered by the PV Plants&#8217; insurance
policies, under certain circumstances such occurrences may not be covered or may only be partially covered by the insurance and, if covered,
utilization of the insurance may cause an increase in the premiums paid to our insurance companies, all of which may adversely affect
our results of operations and profitability.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Risks Related to our WtE (Biogas) Plants</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>In addition to the risks
involved in the construction and operation of, and the regulatory risks applicable to, renewable energy plants in general, WtE plants
are exposed to risks specific to this industry. </b>In addition to the risks detailed above under &#8220;Risks Related to our Renewable
Energy Operations,&#8221; WtE plants are exposed to additional risks specific to this industry, including:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
the raw materials used to produce energy in the WtE market are not freely available (as is the case with wind and solar energies), the
success of a WtE plant depends, among other things, on the prices of feedstock required in order to maintain the optimal mix of feedstock
necessary to maximize performance of the plants and meet a certain of range of energy (gas, electricity or heat) production levels. To
ensure a continuous supply of raw materials, both in terms of the quantity and the quality and composition of the raw materials, a WtE
plant is required to enter into supply relationships with several feedstock suppliers, such as farmers, food manufacturers and other
specialized feedstock suppliers and to continuously monitor the proposed transactions to locate the most efficient and beneficial offers.
Any increase in the price of feedstock or shortage in the type or quality of feedstock required to produce the desired energy levels
with the technology used by the plant could slow down or halt operations, causing a material adverse effect on the results of operations.
The price and quality of the feedstock mix might also increase the plant&#8217;s operating costs, either due to the need to purchase
a more expensive feedstock mix to meet the desired energy production levels, or due to an increase in residues and the resulting increase
of surplus quantities that require removal. In addition to the impact of the quality of the feedstock on the production levels, maintaining
and monitoring the feedstock quality is crucial for preventing malfunctions in the process, for example due to high levels of certain
chemicals that might harm the CHP engines. Additionally, a wrong feedstock mix and/or low feedstock quality might create biology problems
such as lower bacteria population, which directly adversely impacts biogas production. Therefore, any shortage of quality feedstock and
changes in the feedstock mix available for use could have a material adverse effect on the results of operations of our WtE plants. As
a result of the Russia-Ukraine military conflict, our WtE plants experienced a shortage of raw materials and feedstock, which impacted
the composition of the materials used by the facilities and their production.</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            operation of WtE plants is highly complex and requires ongoing supervision and maintenance.
                                            Several factors may impact the efficiency of the facilities, including the availability and
                                            cost of feedstock, the composition of feedstock, malfunctions and damages. In addition, following
                                            a correction of malfunctions that disables the system, the plant does not generally return
                                            to maximum capacity immediately and the startup is implemented gradually. Although we have
                                            insurance policies that cover damages and loss of revenue upon certain events, these insurance
                                            policies may not cover all damages or be available to us in the future, on acceptable terms
                                            or at all.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            expense level and profitability of WtE plants depends on many factors, many of which are
                                            not within our control. For example, the recent increase in fuel prices increased transportation
                                            costs and operating expenses of our WtE plants. Any future increase in expenses could materially
                                            impact the results of operations and financial condition of our WtE plants.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            WtE industry is subject to many laws and regulations which govern the protection of the environment,
                                            quality control standards, health and safety requirements, and the management, transportation
                                            and disposal of different types of waste. Environmental laws and regulations may require
                                            removal or remediation of pollutants and may impose civil and criminal penalties for violations.
                                            The costs arising from compliance with environmental laws and regulations may increase operating
                                            costs for our WtE plants and we may be exposed to penalties for failure to comply with such
                                            laws and regulations. In addition, existing regulation governing waste management and waste
                                            disposal provide incentives to feedstock suppliers to use waste management solutions such
                                            as the provision of feedstock to WtE plants. Any regulatory changes that impose additional
                                            environmental restrictions on the WtE industry or that relieve feedstock suppliers from the
                                            stringent regulation concerning waste management and disposal could increase our operating
                                            costs, limit or change the cost of the feedstock available to us, and adversely affect our
                                            results of operations.</span></td></tr></table><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Risks Related to our Israeli Operations</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>The Talmei Yosef PV Plant
and the Dorad Power Plant are located in the southern part of Israel, in proximity to the Gaza Strip and within range of missile and mortar
bombs launched from the Gaza Strip. The Manara PSP is located the northern part of Israel, in proximity to the border with Lebanon. The
war and hostilities in Israel, commencing October 7, 2023, may pose a risk to such operations. </b>The Talmei Yosef PV Project is located
near the Gaza Strip border and the Dorad Power Plant is located in Ashkelon, a town in the southern part of Israel, in proximity to the
Gaza Strip. In recent years, there has been an escalation in violence and missile attacks from the Gaza Strip to Southern and Central
Israel. The Manara PSP is constructed in close proximity to Israel&#8217;s border with Lebanon, in an area that has also been attacked
by missiles in the past. Due to the location of the Dorad Power Plant, Dorad has implemented various security measures to enable continued
operations of the Dorad Power Plant during attacks on its premises. However, any such further attacks to the area surrounding the Gaza
Strip or the northern border of Israel or any direct damage to the location of the Dorad Power Plant or the Manara PSP may damage it and
disrupt their operations, and may cause losses and delays. On October 7, 2023, the &#8220;Iron Swords&#8221; war broke out in Israel following
an attack in Southern Israel by Hamas. The war and hostilities, including missile attacks, mainly on southern and northern Israel, have
continued since then, further escalating with a drone and missile attack by the Iranian regime in early April 2024. As a result of the
attacks in northern Israel, the construction works on the Manara PSP site were halted and have not yet been resumed. Although we expect
to receive compensation for certain damages, there is no assurance that the compensation will be fully or timely received and, even if
received, that it will cover all of our direct and indirect damages as a result of the delays. The continuation or future escalation of
the war and hostilities in southern and northern Israel, including potential direct damage due to missile attacks, temporary or permanents
cessation of operations and potential inability to access the sites, could materially adversely impact the Company&#8217;s Israeli operations
and projects under development and the Company&#8217;s results of operations. In addition, any operations in Israel are impacted by the
general security and economic conditions in Israel, any deterioration in the security or economic condition in Israel, including, but
not limited to, due to war, terrorist attacks, recession or any other events that may cause a decrease in electricity consumption or electricity
prices, may damage the facilities or the transmission of gas to the Dorad Power Plant or may adversely impact customers and may cause
losses or delays. Although we executed an agreement to sell our holdings in the Talmei Yosef PV Plant on December 31, 2023, until the
sale is consummated, we continue to be exposed to risks in connection with the Talmei Yosef PV Plant, including the risk that the conditions
to closing will not be timely fulfilled and the transaction will not be consummated.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>The electricity sector
in Israel is highly regulated. Any changes in the tariffs, system charges or applicable regulations may adversely affect our operations
and results of operations. In addition, failure to obtain and maintain electricity production and supply licenses from the regulator could
materially adversely affect our operations and results of operations. </b>The Israeli electricity sector is subject to various laws and
regulations, such as the tariffs charged and paid by Noga &#8211; Electricity System Management Ltd., which is a newly-formed Israeli
government company managing the national electricity system, or the System Manager, and the IEC, and the licensing requirement that apply
to private manufacturers, such as Dorad, in which we indirectly hold 9.375%. The tariffs paid by Dorad in connection with the Dorad Power
Plant to the System Manager for system operation services provided to Dorad and the fees received by Dorad from the System Manager for
electricity sold to the IEC and for providing the IEC with energy availability, are all based on tariffs determined by the Israeli regulator.
The updates and changes to the regulation and tariffs required to be paid to the IEC and to the System Manager by Dorad, or from the System
Manager to Dorad, may not necessarily involve negotiations or consultations with Dorad and may be unilaterally imposed on it. Any changes
in the tariffs, system charges or applicable regulations may adversely affect our operations and results of operations. In addition, a
manufacturer of electricity in Israel, such as Dorad, the Manara PSP, the Talmei Yosef PV Plant and any other plant we may wish to develop,
promote, construct, operate or acquire, is required to hold permanent licenses for production and supply, issued by the Israeli Electricity
Authority, which include terms and conditions that could be revised in the future by the Israeli Electricity Authority, and which could
be revoked under certain circumstances. In the event any manufacturer does not meet its obligations set forth in the licenses or in the
event the Israeli Electricity Authority decides to impose additional restrictions or materially change the terms of the licenses, then,
subject to its right to a hearing, such manufacturer may lose one or all of its licenses (production and supply) or their terms may be
materially revised. Failure to maintain such licenses or a material revision to the terms of the licenses could adversely affect our results
of operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>The electricity sector
in Israel is highly centralized. The IEC controls and operates the electricity system and all stages of the transmission of electricity.
</b>The electricity sector in Israel is dominated by the IEC, which controls and operates the supply, distribution and transmission of
electricity, and also produces the majority of electricity in Israel. The System Manager, entered into an agreement with Dorad for the
purchase of availability and electricity The System Manager is also the only customer of the Talmei Yosef PV Plant and is subject to the
requirement to pay a fixed tariff for the electricity manufactured by such plant. Similarly, it is currently expected that the sole customer
of the Manara PSP will be the System Manager, who will be required to pay the Manara PSP for availability and electricity produced. The
ability of the System Manager to pay the renewable energy manufacturers could be affected by financial instability of the System Manager.
The inability of the System Manager to pay Dorad, Talmei Yosef, the Manara PSP or any energy project we may be involved in in Israel,
may adversely affect our plan of operations and could have a material adverse effect on our profitability.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Risks Related to our Investment in Ellomay
Luzon Energy</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>We
have joint control in Ellomay Luzon Energy, who, in turn, holds a minority stake in Dorad.&#160; Therefore, we do not control the operations
and actions of Dorad. </b>We currently hold 50% of the equity of Ellomay Luzon Energy (f/k/a U. Dori Energy Infrastructures Ltd.), who,
in turn, holds 18.75% of Dorad and accordingly our indirect interest in Dorad is 9.375%. Although we entered into a shareholders&#8217;
agreement, or the Ellomay Luzon Energy Shareholders Agreement, with Ellomay Luzon Energy and the other shareholder of Ellomay Luzon Energy,
Amos Luzon Entrepreneurship and Energy Group Ltd. (f/k/a U. Dori Group Ltd.), or the Luzon Group, providing us with joint control of Ellomay
Luzon Energy, should differences of opinion as to the management, prospects and operations of Ellomay Luzon Energy arise, such differences
may limit our ability to direct the operations of Ellomay Luzon Energy. Moreover, Ellomay Luzon Energy holds a minority stake in Dorad
and as of the date hereof is entitled to nominate only one director in Dorad, which, according to the Ellomay Luzon Energy Shareholders
Agreement, we are entitled to nominate. As we have one representative on the Dorad board of directors, which has a total of seven directors,
we do not control Dorad&#8217;s operations. Therefore, as we have joint control over Ellomay Luzon Energy and limited control over Dorad,
we may be unable to prevent certain developments that may adversely affect their business and results of operations. Since July 2015,
several of Dorad&#8217;s direct and indirect shareholders, including Ellomay Clean Energy Limited Partnership, or Ellomay Energy LP, a
limited partnership directly and indirectly wholly-owned by us that holds Ellomay Luzon Energy&#8217;s shares, are involved in various
legal proceedings, all as more fully described in </span>&#8220;Item 4.B: Business Overview&#8221; below<span style="font-family: Times New Roman, Times, Serif">.
In addition, to the extent our interest in Ellomay Luzon Energy is deemed an investment security, as defined in the Investment Company
Act of 1940, or the Investment Company Act, we could be deemed to be an investment company under the Investment Company Act, depending
on the value of our other assets. Please see &#8220;We may be deemed to be an &#8220;investment company&#8221; under the Investment Company
Act of 1940, which could subject us to material adverse consequences&#8221; below.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>The Ellomay Luzon Energy
Shareholders Agreement contains restrictions on our right to transfer our holdings in Ellomay Luzon Energy, which may make it difficult
for us to terminate our involvement with Ellomay Luzon Energy. </b>The Ellomay Luzon Energy Shareholders Agreement contains several restrictions
on our ability to transfer our holdings in Ellomay Luzon Energy, including a right of first refusal. The aforesaid restrictions may make
it difficult for us to terminate our involvement with Ellomay Luzon Energy should we elect to do so and may adversely affect the return
on our investment in Ellomay Luzon Energy.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Our holdings in Ellomay
Luzon Energy are pledged to the holders of our Series E Secured Debentures, which may limit our ability to sell such holdings or perform
other actions that may be beneficial to us. </b>On February 1, 2023, we issued a new series of secured nonconvertible debentures due March
31, 2029, or the Series E Secured Debentures. The Series E Debentures are secured by pledges on the shares of Ellomay Luzon Energy held
by Ellomay Energy LP and on Ellomay Energy LP&#8217;s rights and agreements in connection with shareholder&#8217;s loans (and capital
notes) provided by Ellomay Energy LP to Ellomay Luzon Energy. The Deed of Trust governing the Series E Secured Debentures includes several
limitations and requirements applicable to our holdings in Ellomay Luzon Energy and additional provisions that may limit our ability to
sell our holdings in Ellomay Luzon Energy or to revise arrangements with Ellomay Luzon Energy. For further information concerning the
Deed of Trust governing our Series E Secured Debentures, issued on February 1, 2023, see &#8220;Item 5.B<span style="font-family: Times New Roman, Times, Serif">:
</span>Liquidity and Capital Resources&#8221; under &#8220;Series E Secured Debentures&#8221; and &#8220;Item 10.C: Material Contracts.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Dorad, which is the only
substantial asset held by Ellomay Luzon Energy, operates the Dorad Power Plant, whose successful operations and profitability depends
on a variety of factors, some of which are not within Dorad&#8217;s control.</b>&#160; Dorad&#8217;s only substantial asset is the Dorad
Power Plant, situated on the premises of the Eilat-Ashkelon Pipeline Company, or EAPC, located south of Ashkelon, Israel. The Dorad Power
Plant is subject to various complex agreements with third parties (the IEC, the operations and maintenance contractor, suppliers, private
customers, etc.) and to regulatory restrictions and guidelines in connection with, among other issues, the tariffs to be paid by the IEC
to Dorad for the energy it produces. Various factors and events may materially adversely affect Dorad&#8217;s results of operations and
profitability and, in turn, have a material adverse effect on Ellomay Luzon Energy&#8217;s and on our results of operations and profitability.
These factors and events include:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Electricity
                                            tariffs, which are determined and updated solely by the Israeli Electricity Authority, have
                                            a material impact on the results of operations of Dorad.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            operation of the Dorad Power Plant is highly complex and depends upon the continued ability:
                                            (i) to operate the various turbines, and (ii) to turn the turbines on and shut them down
                                            quickly based on demand. The profitability of Dorad also depends on the accuracy of the proprietary
                                            forecasting system used by Dorad. Any defects or disruptions, or inaccuracies in forecasts,
                                            may result in an inability to provide the amount of electricity required by Dorad&#8217;s
                                            customers or in over-production, both of which could have a material adverse effect on Dorad&#8217;s
                                            operations and profitability.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad&#8217;s
                                            operations depend upon the expertise and success of its operations and maintenance contractor,
                                            who is responsible for the day-to-day operations of the Dorad Power Plant. If the services
                                            provided by such contractor will cause delays in the production of energy or any other damage
                                            to the Dorad Power Plant or to Dorad&#8217;s customers, Dorad may be subject to claims for
                                            damages and to additional expenses and losses and therefore Dorad&#8217;s profitability could
                                            be adversely affected. Dorad also depends on certain sole suppliers for services, including
                                            the IEC, which distributes the electricity manufactured by Dorad to Dorad&#8217;s customers
                                            and Israel Natural Gas Lines Ltd., who delivers the gas required for Dorad&#8217;s operations.
                                            Any disagreement or disruption of these services could adversely impact Dorad&#8217;s operations.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant
                                            equipment failures may limit Dorad&#8217;s production of energy. Although damages from equipment
                                            failures generally covered by insurance policies, any such failures may cause disruption
                                            in the production, may not all be covered by the insurance and the correction of such failures
                                            may involve a considerable amount of resources and investment and could therefore adversely
                                            affect Dorad&#8217;s profitability.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad&#8217;s
                                            operations depend on the availability and accurate function of its information technology,
                                            communications and data retrieval and analysis systems. As such, Dorad is exposed to risks
                                            of cyber-attacks, either directed specifically at Dorad or at infrastructure or Israeli sites
                                            in general. The occurrence of a cyber-attack may halt Dorad&#8217;s operations and result
                                            in damages to Dorad&#8217;s financial results and reputation.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>


</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
construction of the Dorad Power Plant was mainly financed by a consortium of financing entities pursuant to a long-term credit facility
and such credit facility provides for pre-approval by the consortium of certain of Dorad&#8217;s actions and contracts with third parties
and further includes a list of events that may enable the lenders to demand immediate repayment of the credit facility. Changes in the
credit ratings of Dorad and its shareholders, non-compliance with financing and other covenants, delays in provision of required pre-approvals
or disagreements with the financial entities, material changes in Dorad&#8217;s licenses or a loss of license by Dorad and additional
factors may trigger certain rights granted to the lenders under the financing documents and may adversely affect Dorad&#8217;s operations
and profitability.</span></td>
</tr></table><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            entered into a long-term natural gas supply agreement, or the Tamar Agreement, with the partners
                                            in the &#8220;Tamar&#8221; license located in the Mediterranean Sea off the coast of Israel,
                                            or Tamar. This agreement includes a &#8220;take or pay&#8221; mechanism, subject to certain
                                            restrictions and conditions that may result in Dorad paying for natural gas not actually
                                            required for its operations. In addition, in November 2022, Dorad started purchasing natural
                                            gas from Energean Israel Ltd., or Energean. Dorad&#8217;s operations depend on the timely,
                                            continuous and uninterrupted supply of natural gas from Tamar and Energean and on the existence
                                            of sufficient reserves throughout the term of the agreements with Tamar and Energean. Any
                                            disruptions in the gas supply, could adversely impact Dorad&#8217;s operations and results
                                            of operations. In addition, the price of natural gas under the supply agreements with Tamar
                                            and Energean is linked to production tariffs determined by the Israeli Electricity Authority
                                            but cannot be lower than the &#8220;final floor price&#8221; included in the agreements.
                                            In the event of future reductions in the production tariff, the price of gas may reach the
                                            &#8220;floor price&#8221; and thereafter will not be further reduced. Any delays, disruptions,
                                            increases in the price of natural gas under the agreement, or shortages in the gas supply
                                            from Tamar or Energean will adversely affect Dorad&#8217;s results of operations.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Dorad power plant is subject to environmental regulations, aimed at increasing the protection
                                            of the environment and reducing environmental hazards, including by way of imposing restrictions
                                            regarding noise, harmful emissions to the environment and handling of hazardous materials.
                                            Currently the costs of compliance with the foregoing requirements are not material. Any breach
                                            or other noncompliance with the applicable laws may cause Dorad to incur additional costs
                                            due to penalties and fines and expenses incurred in order to regain compliance with the applicable
                                            laws, all of which may have an adverse effect on Dorad&#8217;s profitability and results
                                            of operations.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due
                                            to the agreements with contractors of the Dorad Power Plant and the indexation included in
                                            the gas supply agreement, Dorad is exposed to changes in the exchange rates of the U.S. dollar
                                            against the NIS. In addition, due to the indexing to the Israeli consumer price index under
                                            Dorad&#8217;s credit facility, Dorad is exposed to fluctuations in the Israeli CPI, which
                                            may adversely affect its results of operations and profitability. Dorad from time to time
                                            executes forward transactions to purchase U.S. dollars against the NIS and other hedging
                                            transactions to minimize these risks.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            is involved in several arbitration and court proceedings initiated by Dorad&#8217;s shareholders,
                                            including Ellomay Luzon Energy. Disagreements and disputes among shareholders may interfere
                                            with Dorad&#8217;s operations and specifically with Dorad&#8217;s business plan and potential
                                            growth.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            electricity production sector in Israel has expanded and evolved during recent years, with
                                            the introduction of privately held electricity production facilities. Dorad is subject to
                                            competition from existing or new electricity producers, who will attempt to sell electricity
                                            directly to private customers, including Dorad&#8217;s customers or potential customers.
                                            The added competition may reduce the rates received by Dorad and therefore decrease its revenues
                                            and profitability.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            is required to make payments to various third parties, including the financing consortium,
                                            the gas suppliers, the O&amp;M contractor and the gas transmission service provider. In the
                                            event Dorad will not have sufficient liquidity to comply with its payment obligations, its
                                            operations and financial results may be materially adversely impacted.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Risks Related to the Manara PSP</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>The Manara PSP currently
holds a conditional license. Such conditional license may be revoked for various reasons, such as non-compliance with milestones stipulated
in the conditional license. </b>The Manara PSP currently holds a conditional license for the construction of a 156 MW pumped storage project,
or the Manara PSP Conditional License, issued to it on June 17, 2020. Conditional licenses issued by the Israeli Electricity Authority
include several milestones, and deadlines for completing such milestones, including <span style="font-family: Times New Roman, Times, Serif">the
completion of the construction works of the pumped storage power plant.</span> The Israeli Electricity Authority could revoke the Manara
PSP Conditional License if Ellomay Pumped Storage (2014) Ltd., the project company of the Manara PSP, or Ellomay PS, does not timely meet
the milestones included in it. Any such attempted revocation is subject to a written notice from the Israeli Electricity Authority, which
is required to include the reasons for the proposed revocation, and to a hearing of Ellomay PS before the Israeli Electricity Authority.
If the Manara PSP Conditional License will be revoked in the future, that could prevent the completion of the Manara PSP, resulting in
a loss of some or all the funds invested in the Manara PSP.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>T<span style="font-family: Times New Roman, Times, Serif">he
construction of the </span>Manara PSP is <span style="font-family: Times New Roman, Times, Serif">a complex and uni</span>que engineering
challenge<span style="font-family: Times New Roman, Times, Serif">.</span></b><span style="font-family: Times New Roman, Times, Serif">
The construction process of the Manara PSP includes planning and conducting of a comprehensive investigation to characterize the variety
of soils and rocks at the construction sites. In accordance with the infrastructure characteristics and the seismic risks that exist on
site, stability calculations need to be performed on the basis of which instructions are given for the planning and execution of the reservoirs.</span>
Any complications during the construction period of the Manara PSP could cause delays in the construction and could expose the Manara
PSP to non-compliance with the terms of the Manara PSP Conditional License issued to it by the Israeli Electricity Authority and could
otherwise materially adversely affect our results of operations in connection with the Manara PSP.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Risks Related to our Operations and our
Structure</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>We depend on the Talasol
PV Plant for a substantial portion of our revenues and cash flows. </b>We depend on the Talasol PV Plant, and expect to continue to depend
on the Talasol PV Plant and other relatively large projects, for a substantial portion of our revenues and cash flows. The Talasol PV
Plant accounted for approximately 51.1% and 61.4% of our revenues for the years ended December 31, 2023 and 2022, respectively. As new
projects reach commercial operation, our dependency on the Talasol PV Plant is expected to reduce. However, this project, as well as other
large projects such as the Manara PSP, are still expected to account for a substantial portion of our revenues and cash flows in the future.
Consequently, any damage or loss in connection with the Talasol PV Plant could materially reduce our revenues and cash flows and, as a
result, have a material adverse effect on our business, financial condition and results of operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Our ability to leverage
our operations and increase our operations depends, <i>inter alia</i>, on our ability to obtain attractive project and corporate financing
from financial entities or to enter into other financing arrangements, including tax equity arrangements. &#160;</b>Our ability to obtain
attractive financing and the terms of such financing, including interest rates, equity to debt ratio requirement and timing of debt availability
will significantly impact our ability to leverage our investments and enhance our operations and to fulfill our development plans. Although
we have financing agreements with respect to several of our PV Plants, WtE plants and the Manara PSP and although we raised significant
funds in Israel through the issuance of debentures, there is no assurance we will be able to procure additional project financing or financing
from tax equity partners, as applicable, for projects under development or any operations we will acquire or projects we wish to advance
in the future, or to obtain additional corporate financing, on terms favorable to us or at all. In recent years, the global markets as
well as the market in Israel have experienced significant increases in interest rates, which impact the interest rates applicable to public
and private debt financings. In addition, adverse developments that affect financial institutions, such as events involving liquidity
that are rumored or actual, have in the past and may in the future lead to bank failures and market-wide liquidity problems. The results
of events or concerns that involve one or more of these factors could include a variety of material and adverse impacts on our ability
to obtain financing, and on our current and projected business operations and our financial condition and results of operations. Any instability
in the banking and financing markets could limit the availability of funds for financing activities or result in less favorable commercial
financing terms, including higher interest rates or costs and tighter financial and operating covenants, or systemic limitations on access
to credit and liquidity sources, thereby making it more difficult for us to acquire financing on acceptable terms or at all. An increase
in interest rates may also adversely impact the profitability and return on projects we consider, and may cause us to decide not to pursue
certain business opportunities. In addition, we recently entered into the US solar PV market. We expect that our US PV projects will rely
on third-party tax equity funding, obtained through the sale of available tax incentives. No assurance can be given that tax equity investors
will be available or willing to provide financing on acceptable terms, that we will be able to sell the tax incentives through other markets
or that the tax incentives and benefits that are needed to make tax equity financing available will remain in place. Even if we locate
a tax equity partner, we may be required to provide them with certain rights with respect to the relevant project, which include rights
to a portion of the projects&#8217; cash flows. Our inability to obtain additional financing, through financing entities, tax equity funding
or otherwise, on favorable terms, or at all, may adversely affect our ability to leverage our investments and to procure the equity required
in order to execute one or more projects or increase and further develop our operations and execute our business plan.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Our ability to freely operate
our business is limited due to certain restrictive covenants contained in the deeds of trust of our Debentures. </b>The deeds of trust
governing our Series C Debentures, Series D Convertible Debentures, Series E Secured Debentures and Series F Debentures, or, together,
the Deeds of Trust and the Debentures, respectively, contain restrictive covenants that limit our operating and financial flexibility.
These covenants include, among other things, a &#8220;negative pledge&#8221; with respect to a floating pledge on all of our assets. The
Deeds of Trust also contain covenants regarding maintaining certain levels of financial ratios and criteria, including as a condition
to the distribution of dividends, as a trigger for an obligation to pay additional interest and as a cause for immediate repayment, and
other customary immediate repayment conditions, including, under certain circumstances, in the event of a change of control, a default
under the deed of trust of the other debentures issued by us, a change in our field of operations or a disposition of a substantial amount
of assets. Our ability to continue to comply with these and other obligations depends in part on the future performance of our business.
Such obligations may hinder our ability to finance our future operations or the manner in which we operate our business. In particular,
any non-compliance with performance-related covenants and other undertakings of the Debentures could result in increased interest payments
for some or all of the Debentures or a demand for immediate repayment of the outstanding amount under the Debentures and restrict our
ability to obtain additional funds, which could have a material adverse effect on our business, financial condition or results of operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Our debt increases our
exposure to market risks, may limit our ability to incur additional debt that may be necessary to fund our operations and could adversely
affect our financial stability.</b> As of December 31, 2023, our total indebtedness in connection with corporate and project financing
(including the Talasol PV Plant, of which we hold 51% and the Manara PSPs, of which we hold approximately 83.33%) was approximately &#8364;442
million, including principal and interest expected repayments, financing related swap transactions and excluding any related capitalized
costs. The Deeds of Trust permit us to incur additional indebtedness, including by issuing additional debentures of the existing series
of Debentures and issuing additional series of debentures, subject to maintaining certain financial ratios and covenants. Our debt, including
the Debentures, and any additional debt we may incur, could adversely affect our financial condition by, among other things:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">increasing
                                            our vulnerability to adverse economic, industry or business conditions and cross currency
                                            movements and limiting our flexibility in planning for, or reacting to, changes in our industry
                                            and the economy in general;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">requiring
                                            us to dedicate a substantial portion of our cash flow from operations to service our debt,
                                            thus reducing the funds available for operations and future business development; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">limiting
                                            our ability to obtain additional financing to operate, develop and expand our business.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>We may incur significant
additional amounts of debt, which could further exacerbate the risks associated with our substantial indebtedness. </b>We may be able
to incur substantial additional indebtedness, including additional issuances of debentures and secured indebtedness, in the future. Although
the Deeds of Trust governing our Debentures contain conditions that may affect our ability to incur additional debt, mainly through the
issuance of additional debentures of the existing series of the Debentures, these conditions are limited and we will be able to incur
additional debt and enter into leveraged transactions, so long as we do not breach the financial covenants and meet these conditions.
If new debt is added to our existing debt levels, the related risks that we face would intensify and we may not be able to meet all our
debt obligations, including the obligations in connection with repayment of the Debentures.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>We cannot assure you that
our business will generate cash flow from operations or future borrowings from other sources in an amount sufficient to enable us to service
our indebtedness, including the Debentures, or to fund our other liquidity needs. </b>To service our indebtedness, we require a significant
amount of cash. Our ability to make payments on, and to refinance our indebtedness, including the Debentures, to fund planned capital
expenditures and to maintain sufficient working capital depends on our ability to generate cash in the future. This, to a certain extent,
is subject to general economic, financial, competitive, legislative, regulatory and other factors beyond our control. As such, we may
be unable to generate sufficient cash to service the Debentures or our other indebtedness, and may be forced to take other actions to
satisfy our obligations under our indebtedness, such as reduce or delay capital expenditures, sell assets, seek additional capital or
restructure or refinance all or a portion of our indebtedness, including the Debentures, on or before the maturity thereof. These efforts
may not be successful and such failure could have a material adverse effect on our operations. We cannot assure you that we will be able
to refinance any of our indebtedness, including the Debentures, on commercially reasonable terms or at all, or that the terms of that
indebtedness will allow any of the above alternative measures or that these measures would satisfy our scheduled debt service obligations.
If we are unable to generate sufficient cash flow to repay or refinance our debt on favorable terms, it could significantly adversely
affect our financial condition, the value of our outstanding debt, including the Debentures, and our ability to make any required cash
payments under our indebtedness, including the Debentures. Our ability to restructure or refinance our debt will depend on the condition
of the capital markets and our financial condition at that time. Any refinancing of our debt could be at higher interest rates and may
require us to comply with more onerous covenants, which could further restrict our business operations.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Our business results may
be affected by currency and interest rate fluctuations and the hedging transactions we enter into from time to time in order to manage
currency and interest rate related risks. </b>We hold cash and cash equivalents, restricted cash and marketable securities mainly in euro
and NIS. Our holdings in our PV Plants located in Spain and Italy and in the WtE plants located in the Netherlands are denominated in
euro and our holdings in the Talmei Yosef PV Plant and in Ellomay Luzon Energy are denominated in NIS. Our Debentures and the project
finance obtained in connection with the Talmei Yosef PV Plant and the Manara PSP are denominated in NIS and the interest and principal
payments are to be made in NIS. The financing for several of our PV Plants bears interest based on EURIBOR rate. Therefore, our repayment
obligations and undertakings may be affected by adverse movements in the exchange and interest rates. Although we attempt to manage these
risks by executing various swap interest and currency transactions as more fully explained in &#8220;Item 11: Quantitative and Qualitative
Disclosures About Market Risk&#8221; below, we cannot ensure we will succeed in eliminating these risks in their entirety. These swap
transactions may also impact the results of our operations due to fluctuations in their value based on changes in the relevant exchange
or interest rate.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>We are incorporated and
headquartered in Israel, and some of our operations and projects under development are located in Israel, and therefore we are subject
to potential adverse impact of political, economic and military instability in Israel and its region.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are incorporated under
the laws of the State of Israel, our principal offices are located in central Israel and our headquarters and management, and most of
our employees are located in Israel. In addition, all of the funding raised by us through equity or debt issuances was raised in the Israeli
market and from Israeli investors and several of our projects under development, as well as the Talmei Yosef PV Plant, are located in
Israel. Accordingly, political, economic and military conditions in Israel and the surrounding region may directly affect our business
and prospects. Any armed conflicts, terrorist activities or political instability in the region would likely negatively affect business
conditions and could harm our results of operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In recent years, Israel has
been engaged in sporadic armed conflicts with Hamas, an Islamist terrorist group that controls the Gaza Strip, with Hezbollah, an Islamist
terrorist group that controls large portions of southern Lebanon, and with Iranian-backed military forces in Syria. In addition, Iran
attacked Israel and may be developing nuclear weapons. Some of these hostilities were accompanied by missiles being fired from the Gaza
Strip, Lebanon and Syria against civilian targets in various parts of Israel, including areas in which our headquarters, operations and
projects under development are located. Any hostilities involving Israel, regional political instability or the interruption or curtailment
of trade between Israel and its trading partners could materially and adversely affect our business and results of operations. On October
7, 2023, the &#8220;Iron Swords&#8221; war broke out in Israel following an attack in Southern Israel by Hamas. The war and hostilities,
including missile attacks, mainly on southern and northern Israel, have continued since then, further escalating with a drone and missile
attack by the Iranian regime in early April 2024. In addition to the impact of the war on our operating facilities and projects under
development as set forth above under &#8220;Risks Related to our Israeli Operations,&#8221; we may be exposed to other risks related to
the war due to the location of our headquarters in Israel, including the impact of the war on currency exchange rates, interest rates,
the Israeli economy and consumer price index and potential trade curtailments, reputational damage, the labor market in Israel and adverse
impact on our business relationship with foreign contractors, suppliers, partners, financing entities and other third-parties.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, prior to the
commencement of the hostilities and war in Israel, the Israeli government was pursuing extensive changes to Israel&#8217;s judicial system.
In response to the foregoing developments, individuals, organizations and institutions, both within and outside of Israel, have voiced
concerns that the proposed judicial changes, if adopted, may negatively impact the business environment in Israel, including due to reluctance
of foreign investors to invest or conduct business in Israel, as well as to increased currency fluctuations, downgrades in credit rating,
increased interest rates, increased volatility in securities markets, and other changes in macroeconomic conditions. In addition, since
the announcement of the proposed changes, large protests have taken place and continue to take place in many cities in Israel. The proposed
judicial changes may also adversely affect the labor market in Israel or lead to political instability or civil unrest. At this stage,
where the proposed legislation has not become effective, and its scope is not fully determined, we cannot assess the possible impacts
of these changes and their likelihood, however, to the extent that any of these negative developments do occur, they may have an adverse
effect on our business, financial condition, results of operations and prospects and the market price of our shares, as well as on our
ability to raise additional capital.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>We are currently operating
in a period of economic uncertainty and capital markets disruption, which has been significantly impacted by geopolitical instability.
Our business, financial condition and results of operations may be materially and adversely affected by any negative impact on the global
economy and capital markets resulting from the conflict in Ukraine or any other geopolitical tensions. </b>U.S. and global markets are
experiencing volatility and disruption following the escalation of geopolitical tensions. On February 24, 2022, a full-scale military
invasion of Ukraine by Russian troops was reported. This invasion led to global sanctions that have impacted the international economy,
to a shortage and ensuing increase in price of natural gas and other forms of energy and electricity, shortages in raw materials, including
in the materials comprising the feedstock used by our WtE plants, supply chain delays and an increase in the cost of transportation, impacting
the cost of operations of our WtE plants, which depend on transportation of feedstock and residues. We cannot anticipate the length and
continued impact of the ongoing military conflict. We are continuing to monitor the situation globally and assessing its potential impact
on our business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additionally, Russia&#8217;s
prior annexation of Crimea, recent recognition of two separatist republics in the Donetsk and Luhansk regions of Ukraine and subsequent
military interventions in Ukraine have led to sanctions and other penalties being levied by the United States, European Union and other
countries against Russia, Belarus, the Crimea Region of Ukraine, the so-called Donetsk People&#8217;s Republic, and the so-called Luhansk
People&#8217;s Republic, including agreements to remove certain Russian financial institutions from the Society for Worldwide Interbank
Financial Telecommunication payment system. Additional potential sanctions and penalties have also been proposed and/or threatened. Russian
military actions and the resulting sanctions could adversely affect the global economy and financial markets and lead to instability and
lack of liquidity in capital markets, potentially making it more difficult for us to obtain additional funds.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The continued military conflict
between Russian and the Ukraine may adversely impact our operations in the future, including through the implementation of new regulation
in the countries in which we operate, changes in the financial markets and availability of funds in Europe, shortages in raw materials
and continued increase in delivery prices.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Our inability to effectively
hedge interest rate, currency and other market-related risks may adversely affect our profitability. </b>We use hedging instruments from
time to time to manage interest rate, currency and other market-related risks.&#160;If any of the variety of instruments we use to hedge
our exposure to these various types of risk is not effective, we may incur losses, which may have an adverse effect on our financial condition.
The majority of our derivative contracts are OTC derivatives, i.e., derivative contracts that are not transacted on an exchange. These
derivatives are entered into under ISDA Master Agreements. If a counterparty defaults on these contracts, the underlying exposure would
no longer be effectively hedged, which could result in losses. In addition, there can be no assurance that we will continue to be able
to hedge risks related to current or future assets or liabilities in an efficient manner or at all. Disruptions such as market crises
and economic recessions may put a strain on the availability and effectiveness of hedging instruments. For example, the expected transition
away from LIBOR and similar benchmark rates may have a different impact on the hedged item and the hedging instrument, which could cause
some of our hedge to become ineffective, resulting in potential losses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Our corporate structure
and intercompany arrangements are subject to increasingly complex tax laws of various jurisdictions and expose us to the enactment of
legislation implementing changes in taxation of international business activities, or other changes in tax legislation or policies, which
could adversely affect our business, financial condition, and results of operations.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are an Israeli company
and therefore subject to Israeli corporate income tax. Our operating subsidiaries are mostly registered outside of Israel. Therefore,
we are also subject to taxation in several other jurisdictions around the world.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Tax laws in Israel and these
other jurisdictions have grown increasingly complex, and the application thereof can be uncertain. In addition, we are subject to a variety
of bilateral and multilateral tax treaties, which can change at any time, eliminating or reducing the tax treatment we currently enjoy.
We utilize a variety of tax planning services to address this complexity, but there can be no assurance that we will remain in compliance
in the jurisdictions in which we operate, which could subject us to the risk of tax enforcement actions.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The amount of taxes we pay
in these jurisdictions could also increase substantially as a result of changes in the applicable tax principles, including increased
tax rates, new tax laws or revised interpretations of existing tax laws and precedents. For example, the Organization for Economic Co-operation
and Development (OECD), has put forth two proposals - Pillar One and Pillar Two, which revise the existing profit allocation and nexus
rules (profit allocation based on location of sales versus physical presence) and ensure a minimal level of taxation, respectively. As
of the date of this Report, more than 140 countries, including Israel and other countries in which we operate, have agreed to enact legislation
on Pillar Two and to enforce a minimum global tax rate of 15%. Many countries are expected to implement such legislation in 2024, but
it is currently unclear when Israel will do so. These changes, when enacted by various countries in which we do business, may increase
our taxes in these countries. As the Pillar Two solution is subject to implementation by each member country, the timing and ultimate
impact of any such changes on our tax obligations is uncertain.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Such legislative initiatives
may materially and adversely affect our plans to expand and further develop our operations and may increase our tax liability and administrative
expenses and may materially adversely affect our financial condition and results of operations.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>If we do not conduct an
adequate due diligence investigation of a target project or if certain events beyond our control occur, we may be required to subsequently
take write-downs or write-offs, restructuring, and impairment or other charges that could have a significant negative effect on our financial
condition, results of operations and our stock price. </b>We must conduct a due diligence investigation of target projects that we intend
to acquire or purchase an interest in. Intensive due diligence is time consuming and expensive due to the cost of the technical, accounting,
finance and legal professionals involved in the due diligence process. Even if we conduct extensive due diligence on a target business,
we cannot assure you that this due diligence will reveal all material issues that may affect a particular target project, or that factors
outside the control of the target project and outside of our control will not later arise. If our due diligence review fails to identify
issues specific to a target project, industry or the environment in which the target project operates, or if certain events or circumstances
occur that are beyond our control, we may be forced to later write-down or write-off assets, restructure our operations, or incur impairment
or other charges that could result in losses. Even though these charges may be non-cash items and may not have an immediate impact on
our liquidity, the fact that we report charges of this nature could contribute to negative market perceptions about us or our ordinary
shares.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Tax audits may result in
an obligation to make material payments to tax authorities at the conclusion of these audits.</b> We conduct our business globally (currently
in Israel, Luxembourg, Italy, Spain, the Netherlands and the USA). Our domestic and international tax liabilities are subject to the allocation
of revenues and expenses in different jurisdictions and the timing of recognizing revenues and expenses. Additionally, the amount of income
taxes paid is subject to our interpretation of applicable laws in the jurisdictions in which we file. Not all of the tax returns of our
operations in other countries and in Israel are final and we may be subject to further audit and assessment by the applicable tax authorities.
Such audits often result in proposed assessments and any estimation of the potential outcome of an uncertain tax issue is a matter for
judgment, which can be subjective and highly complex. While we believe we comply with applicable tax laws and that we provided adequately
for any reasonably foreseeable outcomes related to the tax audit, there can be no assurance that a governing tax authority will not have
a different interpretation of the law and assess us with additional taxes, as a result of which our future results may be adversely affected.
Although we believe our estimates to be reasonable, the ultimate outcome of such audits, and of any related litigation, could differ materially
from our provisions for taxes, which may have a material adverse effect on our consolidated financial statements.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Our failure to maintain
effective internal controls over financial reporting could materially adversely affect our reported financial information and the market
price of our ordinary shares.</b> We are characterized as an &#8220;accelerated filer&#8221; under the US Securities Law. Among other
things, this characterization imposes a requirement that our registered public accounting firm issue an attestation report as to our internal
control over financial reporting in connection with the filing of the Annual Report on Form 20-F for each fiscal year. Our efforts to
comply with the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 have resulted in increased general and administrative expenses
and a diversion of management time and attention, and we expect these efforts to require the continued commitment of resources. We cannot
predict the outcome of our testing in future periods. If we fail to maintain the adequacy of our internal controls, we may not be able
to ensure that we or our registered public accounting firm can conclude on an ongoing basis that we have effective internal controls over
financial reporting. Failure to maintain effective internal controls over financial reporting could result in investigation or sanctions
by regulatory authorities, and could have a material adverse effect on our operating results, investor confidence in our reported financial
information, and the market price of our ordinary shares.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>We are subject to risks
associated with legal or administrative proceedings that could materially affect us. </b>We are subject to risks and costs associated
with lawsuits, claims or administrative proceedings. The result and costs of defending any such proceedings or claims, regardless of the
merits and eventual outcome, may be material. Any such proceedings or claims could also materially delay our ability to complete construction
of a project in a timely manner or at all or could otherwise materially adversely affect a completed project&#8217;s operations. Further,
we have little control over whether third-party claims will be brought by one or more third parties, including public and private landowners,
purchasers of electricity or green certificates, equipment suppliers, construction firms, labor unions, and O&amp;M and other service
providers or their employees or contractors. Defending litigation, delays caused by litigation, and the costs of settling or other unfavorable
outcomes, including judgments for monetary damages, injunctions, or denial or revocation of permits, could have a material adverse effect
on our business, financial condition and results of operations.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>We may be deemed to be
an &#8220;investment company&#8221; under the Investment Company Act of 1940, which could subject us to material adverse consequences.
</b>We could be deemed to be an &#8220;investment company&#8221; under the Investment Company Act if we invest more than 40% of our assets
in &#8220;investment securities,&#8221; as defined in the Investment Company Act. Investments in securities of majority owned subsidiaries
(defined for these purposes as companies in which we control 50% or more of the voting securities) are not &#8220;investment securities&#8221;
for purposes of this definition. As our interest in Ellomay Luzon Energy is not considered an investment in majority owned securities,
unless we maintain the required portion of our assets under our control, limit the nature of the requisite portion of our investments
of our cash assets to cash and cash equivalents (which are generally not &#8220;investment securities&#8221;), succeed in making additional
strategic &#8220;controlling&#8221; investments and continue to monitor our investment in Ellomay Luzon Energy, we may be deemed to be
an &#8220;investment company.&#8221; We do not believe that our holdings in our PV Plants or  WtE plants would be considered
&#8220;investment securities,&#8221; as we control our PV Plants (other than the Talasol PV Plant) and our WtE plants via wholly-owned
subsidiaries. In addition, despite minority holder protective rights granted to the minority shareholders of the Talasol PV Plant and
the Manara PSP, including several rights which effectively require the unanimous consent of all shareholders, we believe that our interests
in the Talasol PV Plant and the Manara PSP do not constitute &#8220;investment securities&#8221; given, among other things, our majority
shareholder and board membership status in the project companies. We do not believe that the current fair value of our holdings in Ellomay
Luzon Energy (all as more fully set forth under &#8220;Business&#8221; below) and other relevant assets, all of which may be deemed to
be &#8220;investment securities,&#8221; would result in our being deemed to be an &#8220;investment company.&#8221; If we were deemed
to be an &#8220;investment company,&#8221; we would not be permitted to register under the Investment Company Act without an order from
the SEC permitting us to register because we are incorporated outside of the United States and, prior to being permitted to register,
we would not be permitted to publicly offer or promote our securities in the United States. Even if we were permitted to register, it
would subject us to additional commitments and regulatory compliance. Investments in cash and cash equivalents might not be as favorable
to us as other investments we might make if we were not potentially subject to regulation under the Investment Company Act. We seek to
conduct our operations, including by way of investing our cash and cash equivalents, to the extent possible, so as not to become subject
to regulation under the Investment Company Act. In addition, because we are actively engaged in exploring and considering strategic investments
and business opportunities, and in fact the majority of our investments to date (mainly in the Italian, Spanish and Israeli photovoltaic
power plants markets and in the Netherlands&#8217; WtE market) were made through a controlling investment, we do not believe that we are
currently engaged in &#8220;investment company&#8221; activities or business. These strategies may force us to pursue less than optimal
business strategies or forego business arrangements and to forgo certain cash management strategies that could have been financially advantageous
to us and to our financial situation and business prospect.</p><div>



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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>We may be characterized
as a passive foreign investment company. Our U.S. Holders may suffer adverse tax consequences. </b>Under the passive foreign investment
company or &#8220;PFIC&#8221; rules, for any taxable year that our passive income or our assets that produce passive income exceeds specified
levels, we will be characterized as a PFIC for U.S. federal income tax purposes. This characterization could result in adverse U.S. tax
consequences for our U.S. Holders (as defined below), which may include having certain distributions on our ordinary shares and gains
realized on the sale of our ordinary shares treated as ordinary income, rather than as capital gains income, and having potentially punitive
interest charges apply to the proceeds of sales of our ordinary shares and certain distributions.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain elections may be made
to reduce or eliminate the adverse impact of the PFIC rules for our U.S. Holders, but these elections may be detrimental to such U.S.
Holders under certain circumstances. The PFIC rules are extremely complex and U.S. Holders are urged to consult independent tax advisers
regarding the potential consequences to them of our classification as a PFIC.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on our income and/or
assets, we believe that we were a PFIC with respect to any U.S. Holder that held our shares in 2008 through 2012. We also believe, based
on our income and assets, that it is likely that we were not a PFIC with respect to U.S. Holders that initially acquired our ordinary
shares in 2013-2023. However, the Internal Revenue Service may disagree with our determinations regarding our prior or present PFIC status
and, depending on future events, we could become a PFIC in future years.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For a more detailed discussion
of the consequences of our being classified as a PFIC, see &#8220;Item 10.E: Taxation&#8221; below under the caption &#8220;U.S. Tax Considerations
Regarding Ordinary Shares.&#8221;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Risks Relating to our Ordinary Shares and
Ownership Structure</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>We are controlled by a
small number of shareholders, who may make decisions with which you may disagree and which may also prevent a change of control via purchases
in the market. </b>Currently, a group of investors comprised of Kanir Joint Investments (2005) Limited Partnership, or Kanir, and S. Nechama
Investments (2008) Ltd., or Nechama Investments, hold an aggregate of approximately 44.6% of our outstanding ordinary shares. Shlomo Nehama,
our Chairman of the Board who controls Nechama Investments holds directly an additional approximately 3.6% of our outstanding ordinary
shares and Ms. Anat Raphael, which holds a majority of the outstanding shares of Kanir Investments Ltd., or Kanir Ltd., the general partner
of Kanir, holds an additional approximately 2% of our outstanding ordinary shares. Therefore, acting together, these shareholders could
exercise significant influence over our business, including with respect to the election of our directors and the approval of a change
in control and other material transactions. This concentration of control may have the effect of delaying or preventing changes in control
or changes in management, or limiting the ability of our other shareholders to approve transactions that they may deem to be in their
best interest. In addition, due to this concentration of control, we are deemed a &#8220;controlled company&#8221; for purposes of NYSE
American LLC rules and as such we are not subject to certain NYSE American LLC corporate governance rules. Moreover, our Second Amended
and Restated Articles includes the casting vote provided to our Chairman of the Board under certain circumstances and the ability of members
of our Board to demand that certain issues be approved by our shareholders, requiring a special majority, all as more fully described
in &#8220;Memorandum of Association and Second Amended and Restated Articles&#8221; below may have the effect of delaying or preventing
certain changes and corporate actions that would otherwise benefit our shareholders.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>You may have difficulty
enforcing U.S. judgments against us in Israel.</b> We are organized under the laws of Israel and our headquarters are in Israel. All of
our officers and directors reside outside of the United States. Therefore, it may be difficult to effect service of process upon us or
any of these persons within the United States. In addition, you may not be able to enforce any judgment obtained in the U.S. against us
or any of such persons in Israel and in any event will be required to file a request with an Israeli court for recognition or enforcement
of any non-Israeli judgment. Subject to certain time limitations, executory judgments of a United States court for liquidated damages
in civil matters may be enforced by an Israeli court, provided that: (i) the judgment was obtained after due process before a court of
competent jurisdiction, that recognizes and enforces similar judgments of Israeli courts and according to the rules of private international
law currently prevailing in Israel, (ii) adequate service of process was effected and the defendant had a reasonable opportunity to be
heard, (iii) the judgment and its enforcement are not contrary to the law, public policy, security or sovereignty of the State of Israel,
(iv) the judgment was not obtained by fraud and does not conflict with any other valid judgment in the same matter between the same parties,
(v) the judgment is no longer appealable, and (vi) an action between the same parties in the same matter is not pending in any Israeli
court at the time the lawsuit is instituted in the foreign court. If a foreign judgment is enforced by an Israeli court, it will be payable
in Israeli currency. You may not be able to enforce civil actions under U.S. securities laws if you file a lawsuit in Israel.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>We may rely on certain
Israeli &#8220;home country&#8221; corporate governance practices which may not afford shareholders the same protection afforded to stockholders
of U.S. companies. </b>As a foreign private issuer for purposes of U.S. securities laws, NYSE American LLC rules allow us to follow certain
Israeli &#8220;home country&#8221; corporate governance practices in lieu of the corresponding NYSE American LLC corporate governance
rules. Such home country practices may not afford shareholders the same level of rights or protections in certain matters as those of
stockholders of U.S. domestic companies. To the extent we are entitled to elect to follow Israeli law and practice rather than corresponding
U.S. law or practice, such as with regard to the requirement for shareholder approval of changes to option plans, our shareholders may
not be afforded the same level of rights they would have under U.S. practice.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>The rights and responsibilities
of our shareholders are governed by Israeli law and differ in some respects from the rights and responsibilities of shareholders under
U.S. law. </b>We are incorporated under Israeli law. The rights and responsibilities of holders of our ordinary shares are governed by
our memorandum and articles of association and Israeli law. These rights and responsibilities differ in some respects from the rights
and responsibilities of shareholders in typical U.S. corporations. In particular, each shareholder of an Israeli company has a duty to
act in good faith in exercising his or her rights and fulfilling his or her obligations toward the company and other shareholders and
to refrain from abusing his power in the company, including, among other things, in voting at the general meeting of shareholders on certain
matters. Israeli law provides that these duties are applicable in shareholder votes on, among other things, amendments to a company&#8217;s
articles of association, increases in a company&#8217;s authorized share capital, mergers and interested party transactions requiring
shareholder approval. In addition, a controlling shareholder of an Israeli company or a shareholder who knows that it possesses the power
to determine the outcome of a shareholder vote or who has the power to appoint or prevent the appointment of a director or officer in
the company has a duty of fairness toward the company. However, Israeli law does not define the substance of this duty of fairness. Because
Israeli corporate law has undergone extensive revisions in recent years, there is little case law available to assist in understanding
the implications of these provisions that govern shareholder behavior.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>You may be diluted by the
future issuance of additional ordinary shares, among other reasons, for purposes of carrying out future acquisitions, financing needs,
and also as a result of our incentive and compensation plans.</b> <span style="font-family: Times New Roman, Times, Serif">We have two
series of options (Series 1 and 2) and one series of convertible debentures (Series D) listed on the Tel Aviv Stock Exchange, or TASE,
to purchase an aggregate of 1,780,757 ordinary shares. In the event some or all of our Series 1 Options or Series 2 Options are exercised,
or some or all of our Series D </span>Convertible <span style="font-family: Times New Roman, Times, Serif">Debentures are converted, you
may experience dilution of your percentage of holdings in our ordinary shares. </span>We may also choose to raise additional equity capital
in the future for various reasons and purposes. The issuance of any additional ordinary shares in the future, or any securities that are
exercisable for or convertible into our ordinary shares, will have a dilutive effect on our shareholders as a consequence of the reduction
in percentage ownership.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Our ordinary shares are
listed on two markets, and this may result in price variations that could affect the trading price of our ordinary shares. </b>Our ordinary
shares are listed on the NYSE American LLC and on the TASE, both under the symbol &#8220;ELLO.&#8221; Trading in our ordinary shares on
these markets is made in different currencies (U.S. dollars on the NYSE American LLC and New Israeli Shekels on the TASE), and at different
times (due to the different time zones, different trading days and different public holidays in the United States and Israel). The trading
prices of our ordinary shares on these two markets may differ due to these and other factors. Any decrease in the trading price of our
ordinary shares on one of these markets could cause a decrease in the trading price of our ordinary shares on the other market.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>We have not paid a cash
dividend or executed a buyback of a substantial number of shares since 2016 and there is no assurance we will do so in the future. </b>We
have not paid any cash dividends or announced a share buyback plan since 2016. Future dividends or future share buyback plans will depend
on our earnings, if any, capital requirements, general financial condition and applicable legal and contractual constraints in connection
with distribution of profits, and will be within the discretion of our then-board of directors. There can be no assurance that any additional
dividends will be paid or share buyback programs adopted, as to the timing or the amount of the dividends or share buyback programs, or
as to whether our Board of Directors will elect to distribute our profits by means of share repurchases or a distribution of a cash or
other dividend. In addition, the terms of the deeds of trust governing our Debentures restrict our ability to made &#8220;distributions&#8221;
(as such term is defined in the Israeli Companies Law, 1999, as amended, or the Companies Law, which includes cash dividends and repurchase
of shares). For more information see &#8220;Item 5.B: Liquidity and Capital Resources&#8221; and &#8220;Item 8.A: Financial Information;
Consolidated Statements and Other Financial Information; Dividends&#8221; below.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Our stock price has been
very volatile in the past and may in the future be volatile, which could adversely affect the market liquidity of our ordinary shares
and our ability to raise additional funds. The market liquidity and analyst coverage of our ordinary shares is limited</b>. Our ordinary
shares have experienced substantial price volatility in the past, particularly during periods of very limited volume of trading in our
ordinary shares resulting in every transaction performed significantly influencing the market price. Although our ordinary shares are
listed both on the NYSE American LLC and on the TASE, there is still limited liquidity, and combined with the general economic and political
conditions, these circumstances cause the market price for our ordinary shares to continue to be volatile. The continuance of such factors
and other factors relating to our business may materially adversely affect the market price of our ordinary shares in the future and could
result in lower prices for our ordinary shares than might otherwise prevail and in larger spreads between the bid and asked prices for
our ordinary shares. These issues could materially impair our ability to raise funds through the issuance of our ordinary shares in the
securities markets.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Provisions of Israeli law
may delay, prevent or make difficult an acquisition of Ellomay or a controlling position in Ellomay, which could prevent a change of control
and, therefore, depress the price of our shares. </b>Israeli corporate law regulates mergers, requires tender offers for acquisitions
of shares above specified thresholds, requires special approvals for transactions involving directors, officers or significant shareholders
and regulates other matters that may be relevant to these types of transactions. Furthermore, Israeli tax considerations may make potential
transactions unappealing to us or to some of our shareholders. These provisions of Israeli law may delay, prevent or make difficult an
acquisition of Ellomay, which could prevent a change of control and therefore depress the price of our shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="aa_008"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 4:
Information on Ellomay</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <b>A. History and Development of Ellomay</b></p><div>



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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our legal and commercial name
is Ellomay Capital Ltd. Our office is located at 18 Rothschild Boulevard, 1<sup>st</sup> floor, Tel-Aviv 6688121, Israel, and our telephone
number is +972-3-7971111. Our registered agent in the United States is CT Corporation System, 111 Eight Avenue, New York, New York 10011.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We were incorporated as an
Israeli corporation under the name Nur Advertisement Industries 1987 Ltd. on July 29, 1987. On August 1, 1993, we changed our name to
NUR Advanced Technologies Ltd., on November 16, 1997 we again changed our name to NUR Macroprinters Ltd. and on April 7, 2008, in connection
with the closing of the sale of our business to HP, we again changed our name to Ellomay Capital Ltd. Our corporate governance is controlled
by the Companies Law.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our ordinary shares are currently
listed on the NYSE American LLC and are also listed on the Tel Aviv Stock Exchange under the trading symbol &#8220;ELLO&#8221; pursuant
to the Israeli regulatory &#8220;dual listing&#8221; regime that provides companies whose securities are listed both in the NYSE American
LLC and the TASE certain reporting leniencies<span style="font-size: 10pt; background-color: white">.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Recent Developments </b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>The &#8221;Iron Swords&#8221; War in Israel</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On October 7, 2023, the &#8220;Iron
Swords&#8221; war broke out in Israel following an attack in Southern Israel by Hamas. The war and hostilities, including missile attacks,
mainly on southern and northern Israel, have continued since then, further escalating with a drone and missile attack by the Iranian regime
in early April 2024. The substantial majority of the Company&#8217;s operating facilities, which serve as the Company&#8217;s main sources
of liquidity, are located outside of Israel, in Spain, Italy and the Netherlands. The substantial majority of the projects under development
of the Company are also located outside of Israel, in Italy and in the USA. These facilities and projects have not been impacted by the
war and hostilities in Israel. The Company&#8217;s headquarters are located in Tel Aviv, which is in central Israel, and the Company&#8217;s
headquarter work continued uninterrupted throughout the initial war and hostilities.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has three assets
that are currently operating or under construction in Israel: (i) the Talmei Yosef PV Plant (100% owned by the Company, in southern Israel),
(ii) the Pumped Storage Project in the Manara Cliff (83.34% owned by the Company, in northern Israel), and (iii) the Dorad power plant
(9.375% owned by the Company, in southern Israel). The Talmei Yosef PV Plant and the Dorad power plant have not been materially impacted
by the war and are currently fully operational. For a discussion of the impact on the Manara PSP, see below under &#8220;<i>Projects under
Development or Construction; The Manara PSP</i>.&#8221; <i>The continuation or future escalation of the war and hostilities in southern
and northern Israel, including potential direct damage due to missile attacks, temporary or permanents cessation of operations and potential
inability to access the sites, could materially adversely impact the Company&#8217;s Israeli operations and projects under development
and the Company&#8217;s results of operations.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Projects under Development or Construction</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>The Manara PSP</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The</span>
construction of the Manara PSP commenced in April 2021. We and Ampa Ltd., the Manara PSP&#8217;s other shareholder invested the equity
required for the Manara PSP (not including indexation), with the remainder of the funding received from a consortium of lenders led by
Mizrahi Tefahot Bank Ltd., at a scope of approximately NIS 1.27 billion. This aggregate amount is linked to <span style="font-family: Times New Roman, Times, Serif">a</span>
synthetic composite index comprising a weighted average of the indices and currencies applicable to the Manara PSP&#8217;s construction
costs.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Due to the &#8220;Iron Swords&#8221;
war situation, which also affects the northern area of Israel in proximity to the Lebanon border, works on the Manara PSP site were suspended
in early October 2023. Efforts are currently being focused on accelerating design activities to mitigate potential delays, while manufacturing
of the main equipment, including electro-mechanical equipment, is proceeding as planned. The State of Israel protects the project in situations
that may be considered force majeure, such as the current war. This protection is provided under the framework of the tariff regulation
(financing support standards). The project is expected to receive remedies for schedule or budget overruns caused by such situations.
Originally, the project was planned to become commercially operational in the first half of 2027. However, due to the ongoing war, the
operation date will be delayed. Currently, it is impossible to estimate when construction will end and when commercial operation will
commence. As a result of the delays due to the war, the Israeli Electricity Authority has approved a 10-month extension to the project
schedule, and the Company anticipates receiving additional extensions as needed, considering the ongoing situation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For more information, see
&#8220;Item 4.B: Business Overview&#8221; under the heading &#8220;Pumped Storage Project in the Manara Cliff in Israel.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b><i>The construction of
the Manara PSP and the connection of this project to the grid are subject to risks and uncertainties. For more information concerning
these and other risks see under &#8220;Item 3.D: Risk Factors - Risks Related to our Business.&#8221;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>PV Projects under Development </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Italian PV Portfolio</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Italian PV Portfolio includes
our wholly-owned Italian subsidiaries: (i) Ellomay Solar Italy Two SRL, which owns a fully constructed PV Plant with installed capacity
of 4.95 MW, which was connected to the grid in February 2024, (ii) Ellomay Solar Italy One SRL, which owns a fully constructed PV Plant
with installed capacity of 14.8 MW that is expected to be connected to the grid within a few weeks, and (ii) Ellomay Solar Italy Four
SRL (15.06 MW), Ellomay Solar Italy Five SRL (87.2 MW), Ellomay Solar Italy Seven SRL (54.77 MW), Ellomay Solar Italy Nine SRL (8 MW)
and Ellomay Solar Italy Ten SRL (18 MW), which are developing PV plants that have reached Ready to Build. All of these projects are located
in the Lazio Region, Italy. The cost of construction of the Italian PV Portfolio, including related expenses, is currently estimated at
&#8364;150 million - &#8364;200 million and the expected average construction period of each facility is approximately 18 months.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We also have additional approximately
302 MW PV projects in Italy under advanced development stages.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Israeli PV Portfolio</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="background-color: white">We
are advancing the following PV projects in Israel: </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(i)</td><td style="text-align: justify"><span style="background-color: white">the Klahim and Komemiyut
projects, each intended for 21 MW PV and 50 MW / hour batteries. The projects obtained approvals for connection to the grid and are in
the process of receiving a building permit. Construction is planned to commence during 2024. These projects were initially planned to
receive a tariff based on a tender we previously won for PV plus storage in Israel, however, we waived our rights in connection with
the tender and elected to transition to the regulation that enables direct sale to end customers through private suppliers;</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(ii)</td><td style="text-align: justify"><span style="background-color: white">the Talmei Yosef project,
intended for 10 MW PV and 22 MW / hour batteries. The request for zoning approval was approved in the fourth quarter of 2023;</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(iii)</td><td style="text-align: justify"><span style="background-color: white">the Talmei Yosef storage
project in batteries, which obtained zoning intended for approximately 400 MW / hour. The project is designed for the regulation of high
voltage storage; and</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(iv)</td><td style="text-align: justify"><span style="background-color: white">there are additional 46
MW PV that are under preliminary planning stages.</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Texas, USA, PV Portfolio</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During 2023, we commenced
development of PV projects in the vicinity of Dallas, Texas. Each PV project under development is expected to have a capacity of approximately
10-14 MW. There are currently two projects under construction with an aggregate capacity of approximately 27.36 MW (the Fairfield and
Malakoff projects), and two projects ready for construction with an aggregate capacity of approximately 21.5 MW (the Mexia and Talco projects).
All four projects are expected to be connected to the grid during 2024. The aggregate cost of development and construction of these projects
is expected to be approximately &#8364;58 million, and the projects are expected to be funded partially through a tax equity arrangement
covering approximately 36% of the expenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Additional PV Projects under Early Development</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to the Italian
PV Portfolio and the portfolio of Israeli and US PV projects, we have PV projects under early development stages &#8211; approximately
800 MW in Italy, USA, Spain and Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>The advancement and development
of these and other projects is subject to the projects reaching several milestones, including receipt of regulatory approvals and authorizations,
procurement of land rights, obtaining financing, commencement and completion of construction and connection to the grid, and to various
risks and uncertainties applicable to projects under development and construction as more fully set forth under &#8220;Item 3.D: Risk
Factors&#8221; above. There can be no assurance as to how many projects, if any, will reach the final stage of connection to the grid
and operational status and, even if projects reach certain milestones, there is no assurance that we will decide to advance the projects.
We may advance some or all of the projects with partners and therefore we may not wholly-own such projects in the future.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Agreement to Sell the Talmei Yosef PV Plant</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 31, 2023, we executed
an agreement, or the Talmei Yosef Sale Agreement, to sell our holdings in the 9 MW PV plant located in Talmei Yosef, Israel, or the Talmei
Yosef PV Plant<span style="font-family: Times New Roman, Times, Serif">.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Talmei Yosef Sale Agreement
provides for the sale of our holdings in the Talmei Yosef PV Plant to Greenlight Fund Limited Partnership and Doral Group Renewable Energy
Resources Ltd., in equal parts, in consideration for NIS 44.75 million (approximately &#8364;11.2 million), with an additional potential payment
of up to NIS 4 million (approximately &#8364;1 million) in the event the Talmei Yosef PV Plant will produce more than 18 million Kwh during
2024. The Talmei Yosef Sale Agreement provides for a cutoff date of June 30, 2023 and at closing the parties will determine whether an
adjustment to the purchase price is required to reflect our entitlement to revenues (net of expenses) up to such date, taking into account
the results and the cash held by the project company. We do not expect a material adjustment to the purchase price.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Talmei Yosef Sale Agreement
includes customary representations and indemnification undertakings in connection with breaches of representations, which, other than
with respect to customary exceptions, are subject to a cap of NIS 9 million and limited to a period of 18 months from the closing date.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The consummation of the sale
is subject to various customary conditions to closing, including receipt of regulatory approvals and the consent of the financing entity
of the Talmei Yosef PV Plant. All conditions to closing were originally required to be fulfilled within an initial period of 90 days from
execution of the Talmei Yosef Sale Agreement, which can be extended to up to 150 days under certain circumstances. On April 2, 2024, an
addendum to the Talmei Yosef Sale Agreement was executed, providing for a 45-day extension of the deadline until May 15, 2024 for fulfillment
of the closing conditions.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Talmei Yosef PV Plant
is located in southern Israel. One of the conditions to closing is the end of the &#8220;war&#8221; status in southern Israel for a pre-determined
period (based on the official definitions published by the Israeli Authorities) and that the Talmei Yosef PV Plant is physically accessible.
Based on the circumstances as of the date hereof, this condition is currently fulfilled but there can be no assurance that it will continue
to be fulfilled on the expected closing date. The closing of the sale is currently expected during the second quarter of 2024. The Talmei
Yosef Sale Agreement further provides that in the event that due to the current war and hostilities in Israel the facility will be damaged
or its output will decrease, the buyers are not required to consummate the acquisition.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Following consummation of
the sale, we will maintain the rights to the two projects under development located in the vicinity of the Talmei Yosef PV Plant as noted
under &#8220;Israeli PV Portfolio&#8221; above.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>As noted above, the consummation
of the transactions contemplated by the Talmei Yosef Sale Agreement is subject to the fulfilment of the conditions to closing as of the
date of the closing. These conditions to closing are mostly not within our control or the buyers&#8217; control. There can be no assurance
as to whether or when the conditions to closing will be satisfied and as to the impact of the war and hostilities in Israel on the ability
to consummate the sale and on the final purchase price.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Series F Debentures and Series 2 Options
Public Offering in Israel</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt">On January <span style="font-family: Times New Roman, Times, Serif">16,
2024</span>, we issued in an Israeli public offering units consisting of an aggregate principal amount of NIS 170 million of our newly
issued Series F Debentures, due March 31, 2030 and the Series 2 Options to purchase an aggregate of 1,020,000 ordinary shares at a price
per share of NIS 80 (subject to customary adjustments), which expire on January 5, 2028. The net proceeds of the offering, net of related
expenses such as consultancy fee and commissions, were approximately NIS 165 million (approximately &#8364;40 million as of the issuance
date). In the event all of the Series 2 Options are exercised prior to their expiration date, we will receive additional gross proceeds
of NIS 81.6 million.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Series F Debentures are
not secured by any collaterals. The Series F Debentures and the Series 2 Options are traded on the TASE.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The principal amount of Series
F Debentures is repayable in <span style="font-family: Times New Roman, Times, Serif">four non-equal installment on March 31 in each of
the years 2027 to 2030 (inclusive) as follows: in each of the principal payments in the years 2027 and 2028 a rate of 30% of the principal
will be paid, in the principal payment in the year 2029 a rate of 25% of the principal will be paid and in the principal payment in the
year 2030 a rate of 15% of the principal will be paid. The Series F Debentures bear a fixed interest at the rate of 5.5% per year (that
is not linked to the Israeli CPI or otherwise), payable semi-annually on March 31 and September 30, commencing March 31, 2024 through
March 31, 2030 (inclusive). </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Series F Deed of Trust
includes customary provisions, including (i) a negative pledge such that we may not place a floating charge on all of our assets, subject
to certain exceptions and (ii) an obligation to pay additional interest for failure to maintain certain financial covenants, with an increase
of 0.25% in the annual interest rate for the period in which we do not meet each standard and up to an increase of 0.75% in the annual
interest rate. The Series F Deed of Trust does not restrict our ability to issue any new series of debt instruments, other than in certain
specific circumstances, and enables us to expand the Series F Debentures provided that: (i) we are not in default of any of the immediate
repayment provisions included in the Series F Deed of Trust or in breach of any of our material obligations to the holders of the Series
F Debentures pursuant to the terms of the Series F Deed of Trust, (ii) the expansion will not harm our compliance with the financial covenants
for purposes of the immediate repayment provision included in the Series F Deed of Trust and (iii) to the extent the Series F Debentures
are rated at the time of the expansion, the expansion will not harm the rating of the existing Series F Debentures.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Series F Deed of Trust
includes a number of customary causes for immediate repayment, including a default with certain financial covenants for the applicable
period, and as noted above a mechanism for the update of the annual interest rate in the event we do not meet certain financial covenants.
The financial covenants are as follows:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">a.</td><td style="text-align: justify">Our Series F Adjusted Balance Sheet Equity (as such term is
defined in the Series F Deed of Trust, which, among other exclusions, excludes changes in the fair value of hedging transactions of electricity
prices, such as the PPA executed in connection with the Talasol PV Plant, and interest rates), on a consolidated basis, shall not be
less than &#8364;77 million for two consecutive quarters for purposes of the immediate repayment provision and shall not be less than
&#8364;82 for purposes of the update of the annual interest provision;</td>
</tr></table><div>

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</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">b.</td><td style="text-align: justify">The ratio of (a) the short-term and long-term debt from banks,
in addition to the debt to holders of debentures issued by us and any other interest-bearing financial obligations provided by entities
who are in the business of lending money (excluding financing of projects and other exclusions as set forth in the Series F Deed of Trust),
net of cash and cash equivalents, short-term investments, deposits, financial funds and negotiable securities, to the extent that these
are not restricted (with the exception of a restriction for the purpose of securing any financial debt according to this definition),
or, together, the Series F Net Financial Debt, to (b) our Adjusted Balance Sheet Equity, on a consolidated basis, plus the Series F Net
Financial Debt, or our Series F CAP, Net, to which we refer herein as the Series F Ratio of Net Financial Debt to Series F CAP, Net,
shall not exceed the rate of 65% for three consecutive quarters for purposes of the immediate repayment provision and shall not exceed
a rate of 60% for purposes of the update of the annual interest provision; and</td>
</tr></table><div>

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</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">c.</td><td style="text-align: justify">The ratio of (a) our Series F Net Financial Debt, to (b) our
earnings before financial expenses, net, taxes, depreciation and amortization, where the revenues from our operations, such as the Talmei
Yosef PV Plant, are calculated based on the fixed asset model and not based on the financial asset model (IFRIC 12), and before share-based
payments, when the data of assets or projects whose Commercial Operation Date occurred in the four quarters that preceded the test date
will be calculated based on Annual Gross Up (as such terms are defined in the Series F Deed of Trust), based on the aggregate four preceding
quarters, or our Series F Adjusted EBITDA, to which we refer to herein as the Series F Ratio of Net Financial Debt to Series F Adjusted
EBITDA, shall not be higher than 12 for three consecutive quarters for purposes of the immediate repayment provision and shall not be
higher than 11 for purposes of the update of the annual interest provision.</td>
</tr></table><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
Series F Deed of Trust further provides that we may make distributions (as such term is defined in the Companies Law, e.g. dividends),
to our shareholders, provided that: (a) we will not distribute more than 60% of the distributable profit, (b) we will not distribute
dividends based on profit due to revaluation (for the removal of doubt, negative goodwill will not be considered a revaluation profit),
(c) we are in compliance with all of our material undertakings to the holders of the Series F Debentures, (d) on the date of distribution
and after the distribution no cause for immediate repayment exists and (e) we will not make a distribution for as long as a &#8220;warning
sign&#8221; (as such term is defined in the Israeli Securities Regulations) exists. We are also required to maintain the following financial
ratios (which are calculated based on the same definitions applicable to the financial covenants set forth above) after the distribution:
(i) Series F Adjusted Balance Sheet Equity not lower than &#8364;94 million, (ii) Series F Ratio of Net Financial Debt to Series F CAP,
Net not to exceed 58%, and (iii) Series F Ratio of Net Financial Debt to Series F Adjusted EBITDA, shall not be higher than 9, and not
to make distributions if we do not meet all of our material obligations to the holders of the Series F Debentures and if on the date
of distribution and after the distribution a cause for immediate repayment exists.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">For
further information concerning the Series F Deed of Trust, see &#8220;Item 10.C: Material Contracts&#8221; and the Series F Deed of Trust
included as Exhibit 4.24 under &#8220;Item 19: Exhibits.&#8221;</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Series
F Debentures Private Placement in Israel</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">On
April 17, 2024, we issued NIS 40 million par value of our unsecured non-convertible Series F Debentures, in a private placement to Israeli
classified investors for an aggregate gross consideration of approximately NIS 37.8 million, reflecting a price of NIS 0.946 per NIS
1 principal amount of the Series F Debentures. Following completion of the private placement, the aggregate outstanding par value of
the Company&#8217;s Series F Debentures is NIS 210 million.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Principal
Capital Expenditures and Divestitures</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
the last three fiscal years, our principal capital expenditures were mainly the development and construction of the Manara PSP and of
various PV projects in Italy, Spain, Israel and the United States. For information regarding our projects under development and construction,
please see above under &#8220;Recent Developments,&#8221; below under &#8220;Business Overview,&#8221; &#8220;Item 5: Operating and Financial
Review and Prospects&#8221; and Note 6 to our to our annual financial statements included elsewhere in this Report.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
SEC maintains an Internet site (http://www.sec.gov) that contains reports, proxy and information statements and other information regarding
registrants that we file electronically with the SEC. These SEC filings are also available to the public from commercial document retrieval
services. Our website is http://www.ellomay.com. The information on our website is not incorporated by reference into this annual report.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>B.&#160;Business
Overview </b></span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">We
are involved in the initiation, development, construction and production of renewable and clean energy projects in Europe, USA and Israel.
We indirectly own eight PV plants that are operating and connected to their respective national grids as follows: (i) five PV plants
in Spain with an aggregate installed capacity of approximately 35.9 MWp, (ii) 51% of Talasol, which owns a PV plant with an installed
capacity of 300 MW in the municipality of Talav&#225;n, C&#225;ceres, Spain, (iii) one PV plant in Israel with an installed capacity
of approximately 9 MWp and (iv) Ellomay Solar Italy Two SRL, that owns a PV Plant with installed capacity of 4.95 MW in the Lazio Region,
Italy. In addition, we indirectly own: (i) 9.375% of Dorad, which owns an approximate 850MWp dual-fuel operated power plant in the vicinity
of Ashkelon, Israel, (ii) Ellomay Solar Italy One SRL, that owns a PV plant with installed capacity of 14.8 MW in the Lazio Region, Italy,
which is ready for connection to the grid, (iii) Ellomay Solar Italy Four SRL (15.06 MW), Ellomay Solar Italy Five SRL (87.2 MW), Ellomay
Solar Italy Seven SRL (54.77 MW), Ellomay Solar Italy Nine SRL (8 MW) and Ellomay Solar Italy Ten SRL (18 MW) that are developing PV
projects in the Lazio Region, Italy that have reached &#8220;ready to build&#8221; status, (iv) Groen Gas Goor B.V., Groen Gas Oude-Tonge
B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in the Netherlands, with a green gas production
capacity of approximately 3 million, 3.8 million and 9.5 million Normal Cubic Meter, or Nm3, per year, respectively, (v) 83.333% of Ellomay
Pumped Storage (2014) Ltd., which is constructing the Manara PSP, a 156 MW pumped storage hydro power plant In the Manara Cliff, (vi)
Fairfield Solar Project, LLC, Malakoff Solar I LLC and Malakoff Solar II, LLC that are constructing PV projects with installed capacity
of 13.44 MW, 6.96 MW and 6.96 MW, respectively, in the Dallas Metropolitan area, Texas, and (v) Mexia Solar I, LLC, Mexia Solar II, LLC
and Talco Solar, LLC that are developing PV projects with installed capacity of 5.6 MW, 5.6 MW and 10.3 MW, respectively, in the Dallas
Metropolitan area, Texas, and have reached &#8220;ready to build&#8221; status. We also initiate and develop additional PV projects in
Italy, Spain, USA and Israel.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif"><b>PV
Plants</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif"><b><i>Photovoltaic
Industry Background </i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Clean
electricity generation accounts for a growing share of electric power. While a majority of the world&#8217;s current electricity supply
is still generated from fossil fuels such as coal, oil and natural gas, these traditional energy sources face a number of challenges
including fluctuating prices, security concerns over dependence on imports from a limited number of countries, and growing environmental
concerns over the climate change risks associated with power generation using fossil fuels. As a result of these and other challenges
facing traditional energy sources, governments, businesses and consumers are increasingly supporting the development of alternative energy
sources, including solar energy, the fastest-growing source of renewable energy.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">By
extracting energy directly from the sun and converting it into an immediately usable form, either as heat or electricity, intermediate
steps are eliminated.</span></p><div>

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</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in"><span style="font-family: Times New Roman, Times, Serif"><i>Global
Trends in the Industry </i></span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Europe</i></span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif"><i>European
Climate Goals</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; background-color: white"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
June 2021 the EU established the European Climate Law based on the RED II Directive, in which the previously adopted CO2 reduction goals
are made legally binding for the EU member states. The European Climate Law includes the obligation for Europe&#8217;s economy and society
to become climate-neutral by 2050 and also provides the intermediate target for a 55% cut in greenhouse gas emissions in 2030 compared
to 1990 levels (also known as the &#8220;Fit for 55&#8221; package). On February 4, 2024, the EU published its recommendation for a 90%
reduction in net greenhouse gas emissions by 2040 intermediate as a new intermediate goal. On October 9, 2023, the EU Counsil adopted
the amended Renewable Energy Directive (&#8220;RED III&#8221;), which forms part of the &#8220;Fit for 55&#8221; package. The RED III
increases the renewable energy target share out of overall EU energy consumption from the initial 32% under the RED II Directive, which
was increased to 40% in July 2021 to 42.5% by 2030, with an indicative target of an additional 2.5%. RED III also includes specific targets
for EU Member States in certain sectors as follows: (i) industry &#8211; including a 1.6% annual increase in renewable energy usage,
(ii) transport &#8211; including a requirement that each EU Member State choose between reaching at least 29% renewables in the energy
consumption of the sector by 2030 or reducing greenhouse gas intensity in the sector by 14.5% by 2030 , and (iii) building (district
heating and cooling) &#8211; setting an indicative target of at least 49% share of renewable energy in buildings by 2030 and gradually
increasing renewable targets for heating and cooling systems. The RED III Directive also requires EU Member States to further streamline
the administrative permit-granting procedures to eliminate unnecessary administrative burden for the purpose of establishing renewable
energy projects and related grid infrastructure projects and determine the maximum timeframe for the permit-granting procedures in renewable
acceleration areas and in other areas. The RED III Directive became effective on November 20, 2023, and EU members states were granted
18 months to amend their national laws accordingly, with a shorter deadline of July 2024 for some provisions related to permitting for
renewables. In this regard, the European Commission has established, as part of the REPowerEU program, measures to increase the target
to 45% by 2030. This program furthermore focuses on saving energy, producing clean energy and diversifying the EU&#8217;s energy supplies.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>European
Installed Capacity</i></span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Overcoming
severe supply chain bottlenecks and Covid-19 related restrictions, 41.4 GW of new solar PV capacity was connected to the grid in 2022
throughout EU Member States, a 47% increase compared to 2021. This follows the substantial addition of 41% in 2021. The total solar capacity
of EU Member States reached 208.9 GW in 2022, an increase of 25% from 2021. 2023 marked another record year for solar PV in the EU, with
approximately&#160;56 GW&#160;installed, showing a 40% growth from 2022.&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">According
to &#8220;SolarPower Europe&#8217;s&#8221; base case scenario, additional annual PV installations between 2023-2027 are forecasted to
be 56 GW, 62 GW, 74 GW and 85 GW, respectively. Furthermore, &#8220;SolarPower Europe&#8221; expects the total solar capacity of the
EU to reach 920 GW by 2030 in their base case scenario, surpassing the 750 GW target set by the REPowerEU by 24%.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Israel</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
October 2020, the Israeli government approved a plan to increase its solar capacity by 15 GW and raise its target proportion of national
electricity drawn from renewables from 17% to 30% by 2030. The 2025 target was set at 20%. According to the Israeli Electricity Authority&#8217;s
2023 Annual Conference, the total installed renewable energy capacity is expected to be 9.6 GW by the end of 2025, of which 4.5 GW will
be in dual-use photovoltaic systems and 2.6 GW will be from land photovoltaic systems. This is expected to constitute 35% of the total
capacity expected in Israel at that time. Furthermore, the Israeli Electricity Authority forecasts that the total installed renewable
energy capacity will be 16 GW by the end of 2030.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">According
to the 2022 Annual Renewable Energy Report of the Israeli Electricity Authority, Israel&#8217;s total installed renewable energy capacity
reached approximately 4.8 GW by the end of 2022, representing 21% of the total capacity in the Israeli electricity market and reflecting
an average increase of 37% per annum during the years 2018-20. The report shows that solar energy contributed 3.3 GW out of the total
4.8 GW, with 2 GW from dual-use photovoltaic systems and 1.3 GW from land photovoltaic systems. This report also reveals an increase
in the installations during recent years with a monthly average of 43 MW, 78 MW and 96 MW during 2020, 2021 and 2022, respectively. In
addition, the report highlights that the actual consumption rate of renewable energy in Israel crossed the 10% threshold for the first
time in 2022, with renewable energy representing 10.1% of the actual electricity consumed during the year.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">For
more information, see below under &#8220;<i>Material Effects of Government Regulations on the Israeli PV Plant</i>&#8221;.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>United
States</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Commencing
January 2021, the United States has actively committed to addressing climate change through a series of ambitious goals, actions and
legislations. These acts include rejoining the Paris Agreement, a global initiative aimed at limiting temperature increases to below
2 degrees Celsius, and forming the US National Climate Task Force which included the US Secretary of Treasury and the US Secretary of
Defense. The Climate Task Force outlined nation-wide climate goals that include reducing the US greenhouse emissions by 50%-52% compared
to 2005 levels by 2030, achieving 100% carbon pollution-free electricity by 2035 and achieving a net-zero emissions economy by 2050.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Anatomy
of a Solar Power Plant</i></b></span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Solar
power systems</i> convert the energy in sunlight directly into electrical energy within solar cells based on the photovoltaic effect.
Multiple solar cells, which produce DC power, are electrically interconnected into solar panels. A typical solar panel may have several
dozens of individual solar cells. Multiple solar panels are electrically wired together and are electrically wired to an inverter, which
converts the power from DC to AC and interconnects with the utility grid.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Solar
electric cells</i> convert light energy into electricity at the atomic level. The conversion efficiency of a solar electric cell is defined
as the ratio of the sunlight energy that hits the cell divided by the electrical energy that is produced by the cell. In recent years,
effort in the industry has been directed towards the development of solar cell technology that reduces per watt costs and increases conversion
efficiency. Solar electric cells today are getting better at converting sunlight to electricity, but commercial panels still harvest
only part of the radiation they are exposed to. Scientists are working to improve solar panels&#8217; efficiency using various methods.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Solar
electric panels</i> are composed of multiple solar cells, along with the necessary internal wiring, aluminum and glass framework, and
external electrical connections.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Inverters
</i>convert the DC power from solar panels to the AC power distributed by the electricity grid. Grid-tie inverters synchronize to utility
voltage and frequency and only operate when utility power is stable (in the case of a power failure these grid-tie inverters shut down
to safeguard utility personnel from possible harm during repairs). Inverters also operate to maximize the power extracted from the solar
panels, regulating the voltage and current output of the solar array based on sun intensity.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Monitoring</i>.
There are two basic approaches to access information on the performance of a solar power system. The most accurate and reliable approach
is to collect the solar power performance data locally from the counters and the inverter with a hard-wired connection and then transmit
that data via the internet to a centralized database. Data on the performance of a system can then be accessed from any device with a
web browser, including personal computers and cell phones. As an alternative to web-based remote monitoring, most commercial inverters
have a digital display on the inverter itself that shows performance data and can also display this data on a nearby personal computer
with a hard-wired or wireless connection.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Tracker
Technology vs. Fixed Technology</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Some
of our PV Plants use fixed solar panels while others use panels equipped with single or dual axis tracking technology. Tracking technology
is used to minimize the angle of incidence between the incoming light and a photovoltaic panel. As photovoltaic panels accept direct
and diffuse light energy and panels using tracking technology always gather the available direct light, the amount of energy produced
by such panels, compared to panels with a fixed amount of installed power generating capacity, is higher. As the double axis trackers
allow the photovoltaic production to stay closer to maximum capacity for many additional hours, an increase of approximately 20% (single)
- 30% (dual) of the photovoltaic modules plane irradiation can be estimated. On the other hand, tracker technology requires more complex
and expensive operations and maintenance and, as this is a more sophisticated technology, it is exposed to more defects.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Energy
Storage Solutions </i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">According
to a study published by the European Commission in 2020, innovative energy storage solutions will play an important role in ensuring
the integration of renewable energy sources into the grid in the EU at the lowest cost. This will help the EU reach its 2050 de-carbonization
objectives under the European Green Deal while ensuring Europe&#8217;s security of energy supply. This independent study, titled &#8220;Energy
Storage Study - Contribution to the security of electricity supply in Europe&#8221;, analyzes the different flexibility energy storage
options that will be needed to reap the full potential of the large share of variable energy sources in the power system. This study
notes that the main energy storage reservoir in the EU at the moment is pumped hydro storage. However, as prices fall, new battery technology
projects are emerging - such as lithium-ion batteries and behind-the-meter storage.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Looking
ahead in 2024, TrendForce anticipates the global energy storage installed capacity to reach 71GW/167GWh, marking a 36% and 43% year-on-year
increase, respectively, and maintaining a robust growth trajectory.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Solar
Power Benefits</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
direct conversion of light into energy offers the following benefits compared to conventional energy sources:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Reliability
                                            - Solar energy production does not require fossil fuels and is therefore less dependent on
                                            this limited natural resource with volatile&#160;prices. Although there is variability in
                                            the amount and timing of sunlight over the day, season and year, a properly sized and configured
                                            system can be designed to be highly reliable while providing long-term, fixed price electricity
                                            supply.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Convenience
                                            - Solar power systems can be installed on a wide range of sites, including small residential
                                            roofs, the ground, covered parking structures and large industrial buildings. Most solar
                                            power systems also have few, if any, moving parts and are generally guaranteed to operate
                                            for 20-25 years, resulting in low maintenance and operating costs and reliability compared
                                            to other forms of power generation.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Cost-effectiveness
                                            - While solar power has historically been more expensive than fossil fuels, there are continual
                                            advancements in solar panel technology which increase the efficiency and lower the cost of
                                            production, thus making the production of solar energy even more cost effective.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Environmental
                                            - Solar power is one of the cleanest electric generation sources, capable of generating electricity
                                            without air or water emissions, noise, vibration, habitat impact or waste generation. In
                                            particular, solar power does not generate greenhouse gases that contribute to global climate
                                            change or other air pollutants, as power generation based on fossil fuel combustion does,
                                            and does not generate radioactive or other wastes as nuclear power and coal combustion do.
                                            It is anticipated that environmental protection agencies will limit the use of fossil fuel
                                            based electric generation and increase the attractiveness of solar power as a renewable electricity
                                            source.</span></td></tr></table><div>

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</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Security
                                            - Producing solar power improves energy security both on an international level (by reducing
                                            fossil energy purchases from hostile countries) and a local level (by reducing power strains
                                            on local electrical transmission and distribution systems).</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">These
benefits impacted our decision to enter into the solar photovoltaic market. We believe the fluctuations in fuel costs, environmental
concerns and energy security make it likely that the demand for solar power production will continue to grow. Many countries, including
Italy and Spain, have put incentive programs in place to spur the installation of grid-tied solar power systems. For further information
please see &#8220;Material Effects of Government Regulations on the PV Plants.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Measuring
the Performance of Solar Power Plants</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">One
of the main factors for measuring the efficiency and quality of a power plant is the performance ratio (PR). The performance ratio is
stated as percent and describes the relationship between the actual and theoretical energy outputs of the PV plant. This calculation
provides the proportion of the energy that is actually available for export to the electricity grid after deduction of any energy losses
and of energy consumption for the operation of the PV plant. The performance ratio can be used to compare PV plants at different locations
as the calculation is independent of the location of a PV plant. The closer the performance ratio is to 100%, the more efficient the
relevant PV plant is operating, however a PV plant cannot reach a performance ratio of 100% as there are inevitable losses and use of
energy of the PV plant. High-performance PV plants can however reach a performance ratio higher than 80%.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">There
are several risk factors associated with the photovoltaic market. See &#8220;Item 3.D: Risk Factors - Risks Related to our Business.&#8221;</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Our
Operating Photovoltaic Plants</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b><img alt="" src="image_002.jpg"/></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
following table includes information concerning our operating PV Plants:</span></p><div>

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</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: left">Name</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Installed Production / Capacity<sup>1</sup></b></span></td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Location</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Type of Plant</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Connection to Grid</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Fixed Tariff</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue in<br/>
 the year ended<br/>
 December 31, <br/>
2022<br/>
 (in&#160;thousands)<sup>2</sup></b></span></td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue in<br/>
 the year ended<br/>
 December 31,<br/>
 2023<br/>
 (in&#160;thousands)<sup>2</sup></b></span></td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="vertical-align: top; width: 16%; text-align: left; padding-bottom: 1.5pt">&#8220;Rinconada II&#8221;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; width: 11%; text-align: center; padding-bottom: 1.5pt">2,275 kWp</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; width: 11%; text-align: left; padding-bottom: 1.5pt">Municipality of C&#243;rdoba, Andalusia, Spain</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; width: 11%; text-align: left; padding-bottom: 1.5pt">PV &#8211; Fixed Panels</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; width: 11%; text-align: center; padding-bottom: 1.5pt">July 2010</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; width: 11%; text-align: center; padding-bottom: 1.5pt">N/A</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">946</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">835</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">&#8220;Rodr&#237;guez I&#8221;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">1,675 kWp</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">Province of Murcia, Spain</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">PV &#8211; Fixed Panels</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">November 2011</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">N/A</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">684</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">576</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">&#8220;Rodr&#237;guez II&#8221;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">2,691 kWp</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">Province of Murcia, Spain</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">PV &#8211; Fixed Panels</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">November 2011</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">N/A</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,109</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">951</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">&#8220;Fuente Librilla&#8221;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">1,248 kWp</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">Province of Murcia, Spain</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">PV &#8211; Fixed Panels</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">June 2011</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">N/A</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">525</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">429</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8220;Talasol&#8221;<sup>4</sup></span></td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">300,000 kWp</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">Talav&#225;n, C&#225;ceres, Spain</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">PV &#8211; Fixed Panels</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">December 2020</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">N/A</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">32,740</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">24,971</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">&#8220;Ellomay Solar&#8221;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">28,000 kWp</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">Talav&#225;n, C&#225;ceres, Spain</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">PV &#8211; Fixed Panels</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">June 2022</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">N/A</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,5975</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,051</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  </table><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">1.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The
actual capacity of a photovoltaic plant is generally subject to a degradation of approximately 0.5%-0.7% per year, depending on climate
conditions and quality of the solar panels.</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.3pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.3pt; text-align: justify; text-indent: -0.25in"></p><div>

</div><!-- Field: Page; Sequence: 36; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.3pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">2.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">These
                                            results are not indicative of future results due to various factors, including changes in
                                            the regulation and in the climate and the degradation of the solar panels.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.3pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">3.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The
                                            Talasol PV Plant is 51% owned by us and the revenues included in the table reflect 100% ownership.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.3pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">4.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">As
                                            the Ellomay Solar PV Plant was connected to the Spanish national grid during June 2022, no
                                            revenues were recorded in connection with this PV Plant during the year ended December 31,
                                            2022 until connection to the national grid.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.3pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
table does not include information about the Talmei Yosef PV Plant, which we have treated as a discontinued operation in connection with
its expected sale. The total proceeds from the sale of electricity of the Talmei Yosef PV Plant were approximately &#8364;0.7 million
and &#8364;1.1 million for the years ended December 31, 2023 and 2022, respectively. As a result of the accounting treatment of the Talmei
Yosef PV Plant as a financial asset, if the results of the Talmei Yosef PV Plant would have been recorded as continuing operations, we
would have recorded revenues in the amount of approximately &#8364;49.5 million and &#8364;53.4 million for the years ended December 31,
2023 and 2022, respectively. The initial tariff for the Talmei Yosef PV Plant was NIS 0.9631/kWh, fixed for a period of 20 years and
updated once a year based on changes to the Israeli CPI of October 2011. The tariff was NIS 0.9946/kWh in 2021, NIS 1.0185/kWh in 2022
and NIS 1.0722/kWh in 2023.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Photovoltaic
Plants</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
construction and operation of photovoltaic plants entail the engagement of Contractors, in order to build, assemble, install, test, commission,
operate and maintain the photovoltaic power plants, for the benefit of our wholly-owned subsidiaries.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Each
of the PV Plants is constructed and operates on the basis of the following main agreements:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Development
                                            Agreement with a local experienced developer for the provision of development services with
                                            respect to photovoltaic greenfield projects from initial processing, obtaining of approvals
                                            and clearances with the aim of reaching &#8220;ready to build&#8221; status;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify">An
<span style="font-family: Times New Roman, Times, Serif">Engineering, Procurement &amp; Construction projects Contract, or an EPC Contract,
which governs the installation, testing and commissioning of a photovoltaic plant by the respective Contractor;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify">An <span style="font-family: Times New Roman, Times, Serif">Operation and Maintenance (O&amp;M)
                                                                                                                                    Agreement, which governs the operation and maintenance of the photovoltaic plant by the respective Contractor; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify">A <span style="font-family: Times New Roman, Times, Serif">number of ancillary agreements,
                                                                                                                                    including:</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">o</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">one
                                            or more &#8220;surface rights agreements&#8221; or &#8220;lease agreements&#8221; with the
                                            land owners, which provide the terms and conditions for the lease of land on which the photovoltaic
                                            plants are constructed and operated;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">o</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">optionally,
                                            one or more &#8220;project financing agreements&#8221; with financing entities, as were already
                                            executed with respect to several of the PV Plants and as more fully described below, and
                                            as may be executed in the future with respect to one or more of the remaining PV Plants;
                                            and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">o</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">a
                                            stock purchase agreement in the event we acquire an existing company that owns a photovoltaic
                                            plant that is under construction or is already constructed.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

</div><!-- Field: Page; Sequence: 37; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">With
respect to our Spanish PV Plants:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Standard
                                            &#8220;power distribution agreements&#8221; with the applicable Spanish power distribution
                                            grid company such as Endesa Distribuci&#243;n El&#233;ctrica, S.L.U., or Endesa, or Iberdrola
                                            Distribuci&#243;n El&#233;ctrica, S.A.U., or Iberdrola, regarding the rights and obligations
                                            of each party, concerning, inter alia, the evacuation of the power generated in the plant
                                            to the grid;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Standard
                                            &#8220;representation agreements&#8221; with an entity that will act as the energy sales
                                            agent of the PV Plant in the energy market, in accordance with Spanish Royal Decree 436/2004;
                                            and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Assignment
                                            Contract (&#8220;contrato de encargo de proyecto&#8221;) and the Technical Access Contract
                                            (&#8220;Contracto t&#233;cnico de acceso a la red de transporte&#8221;) with Red El&#233;ctrica
                                            de Espa&#241;a (the Spanish grid operator, or REE).</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">With
respect to our Israeli PV Plant:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">A
                                            power purchase agreement with the IEC for the purchase of electricity by the IEC with a term
                                            of 20 years commencing on the date of connection to the grid.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">With
respect to Italian PV Plants to be developed or held in the future:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify">O<span style="font-family: Times New Roman, Times, Serif">ne
or more &#8220;power purchase agreements&#8221; with GSE, specifying the power output to be purchased by GSE for resale and the consideration
in respect thereof or, alternatively, a &#8220;power purchase agreements&#8221; with a private energy broker, specifying the power output
to be purchased for resale and the consideration in respect thereof;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify">O<span style="font-family: Times New Roman, Times, Serif">ne
or more &#8220;interconnection agreements&#8221; with the Enel Distribuzione S.p.A, or ENEL, the Italian national electricity grid operator,
which provide the terms and conditions for the connection to the Italian national grid; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify">T<span style="font-family: Times New Roman, Times, Serif">o
the extent the FiT or any other incentive will be applicable &#8211; standard &#8220;incentive agreements&#8221; with GSE, Italy&#8217;s
energy regulation agency responsible, inter alia, for incentivizing and developing renewable energy sources in Italy and purchasing energy
and re-selling it on the electricity market. Under such agreements, it is anticipated that GSE will grant the applicable FiT governing
the purchase of electricity (FiTs are further detailed in &#8220;Material Effects of Government Regulations on the Italian PV Plants&#8221;).</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">With
respect to the US PV Plants developed in the vicinity of Dallas, Texas:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify">O<span style="font-family: Times New Roman, Times, Serif">ne
or more agreements to acquire the solar modules from the manufacturers;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify">O<span style="font-family: Times New Roman, Times, Serif">ne
or more &#8220;interconnection agreements&#8221; with Oncor Electric Delivery Company LLC or Texas-New Mexico Power Co., the local electricity
grid operator;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify">O<span style="font-family: Times New Roman, Times, Serif">ne
or more service agreements with a Qualified Scheduling Entity, or QSE, registered with the Electric Reliability Council of Texas, Inc.,
or ERCOT, which enables the participation in the ERCOT real-time and day-ahead markets; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Potentially,
                                            one or more agreements with tax equity partners in connection with investment tax credits
                                            purchase.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
summaries below describe the material terms of the O&amp;M Agreements executed in connection with our operating PV Plants.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Operation
and Maintenance Agreements </i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>General
</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">As
mentioned above, each of the PV Plants is operated and maintained by a local contractor pursuant to an O&amp;M Agreement executed between
such Contractor and our subsidiary that owns the PV Plant, or the PV Principal. Each O&amp;M Agreement sets out the terms under which
each of the Contractors is to operate and maintain the PV Plant.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
our Talmei Yosef PV Plant and Talasol PV Plant, a technical adviser, or the Technical Advisor, was appointed by the Financing Entity,
to monitor the performance of the services. Our current Technical Advisers in Spain and Israel is a leading technical firm which appears
in the banks&#8217; whitelist.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">We
expect that, if required, we could replace some or all of our current O&amp;M Contractors with other contractors and service providers.
However, we cannot ensure that if such replacement shall take place we will receive the same terms and warranties from the new contractor.
In addition, to the extent the relevant PV Plant received financing from a bank or other financing institution, the applicable financing
agreement generally requires that we obtain the financing institution&#8217;s approval for the replacement of an O&amp;M contractor.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>The
Services</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Each
O&amp;M Agreement governs the provision of the following services: (i) Subscription Services, which include Preventive Maintenance Services
(maintenance services such as cleaning of panels and taking care of vegetation, surveillance, remote supervision of operation and full
operational status of the PV Plant) and Corrective Maintenance Services (services to correct incidents arising at the PV Plant or to
remedy any anomaly in the operation of the PV Plant), and (ii) Non-Subscription Services, which are all services outside the scope of
the Subscription Services. In some cases, certain engagement agreements are executed by us directly with service providers (such as internet,
security services, etc.).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>The
Consideration</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Based
on the range of services offered by the Contractor, the annual consideration for the Subscription Services in our operating PV Plants
in Spain, other than Ellomay Solar and Talasol, varies from &#8364;12,800 to &#8364;20,700 per MWp (linked to the local Consumer Price
Index) for each of the PV Plants, paid on a quarterly basis. The annual consideration for the Talasol O&amp;M services amounts to approximately
&#8364;2 million, paid on a monthly basis. The annual consideration for the Ellomay Solar O&amp;M services amounts to approximately &#8364;0.2
million, paid on a monthly basis. The annual consideration for the Talmei Yosef O&amp;M services amounts to approximately NIS 0.5 million
(approximately &#8364;0.12 million based on the average exchange rate for converting the NIS to euro during the year ended December 31,
2023), paid on a quarterly basis. The Subscription Services fee is fixed, and the Contractor is not entitled to request an increase in
the price due to the occurrence of unforeseen circumstances. This annual consideration does not include the price of the insurance policies
to be obtained by the PV Principal, including all risk insurance policies.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>O&amp;M
Contractor&#8217;s Obligations, Representations and Warranties</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
Contractor&#8217;s obligations under the O&amp;M Agreement include, <i>inter alia</i>, the duty to diligently perform the operation and
maintenance services in compliance with the applicable law and permits in a workmanlike manner and using the most advanced technologies,
to manage the spare parts and replenish the inventory as needed, and to assist the PV Principal and the Financing Entity in dealing with
the authorities by providing the necessary information required by such authorities. The Contractor represents and warrants, <i>inter
alia</i>, that it holds the necessary permits and authorizations, and that it has the necessary skills and experience to perform the
services contemplated by the O&amp;M Agreement.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Termination</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Each
party may terminate the O&amp;M Agreement (to the extent applicable, after obtaining the approval of the financing entity) if the other
is in breach of any of its obligations that remain uncured for 30 days following written notice thereof.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
O&amp;M Agreement is terminated if the Contractor is liquidated or becomes bankrupt or insolvent, and on other similar grounds, unless
the PV Principal is willing to continue the O&amp;M Agreement.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
O&amp;M Agreement also provides the parties the option to withdraw from the agreement other than in the event of a breach by the other
party, subject to certain circumstances and advance notice requirements.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>The
Talasol PV Plant</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
Talasol PV Plant is a 300 MW photovoltaic plant in the municipality of Talav&#225;n, C&#225;ceres, Spain, which was connected to
the Spanish national grid in December 2020 and of which we indirectly own 51%.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
June 2018, Talasol executed the Talasol PPA in respect of approximately 80% (75% based on P-50) of the output of a prospective photovoltaic
plant for a period of 10 years. The Talasol PPA was executed with a leading international energy company with a solid investment grade
credit rating and a pan-European asset base, which is active in more than forty countries and has a proven track record in financial
hedges. The power produced by the Talasol PV Plant is sold in the open market for the then current market power price. The Talasol PPA
is expected to hedge the risks associated with fluctuating electricity market prices by allowing Talasol to secure a certain level of
income for the power production included under the Talasol PPA. The hedging provides that if the market price goes below a price underpinned
by the Talasol PPA, the Hedging Provider will pay Talasol the difference between the market price and the underpinned price, and if the
market price is above the underpinned price, Talasol will pay the Hedging Provider the difference between the market price and the underpinned
price. The hedge transaction became effective in March 2019.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
April 2019, we sold 49% of our holdings in Talasol to two entities and therefore our current ownership interest in the Talasol PV Plant
is 51%.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
Talasol PV Plant reached mechanical completion in September 2020 and was connected to the electricity grid and electricity production
commenced at the end of December 2020.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Agreements
with Partners in Talasol</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">On
April 17, 2019, Ellomay Luxembourg executed a Credit Facilities Assignment and Sale and Purchase of Shares Agreement, or the Talasol
SPA, with GSE 3 UK Limited and Fond-ICO Infraestructuras II, FICC, or, together, the Talasol Partners, pursuant to which it agreed to
sell to each of the Talasol Partners 24.5% of its holdings in Talasol.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
transactions contemplated under the Talasol SPA were consummated in April 2019. The aggregate purchase price paid by the Talasol Partners,
in the amount of approximately &#8364;16.1 million, represented 49% of the amounts withdrawn and interests accrued from and by Talasol
under its shareholder development costs credit facility in connection with the Talasol PV Plant&#8217;s financing as of the closing date
of the Talasol SPA (approximately &#8364;4.9 million), plus a payment for 49% of Talasol&#8217;s shares (approximately &#8364;4.9 million)
plus a premium of approximately &#8364;6.1 million. Of such aggregate purchase price, the payment of &#8364;1.4 million was deferred until
the achievement of a preliminary acceptance certificate, or PAC, under the EPC agreement of the Talasol PV Plant. Following the achievement
of PAC on January 27, 2021, the deferred payment amount of &#8364;1.4 million was received by Ellomay Luxembourg.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">On
the closing date of the Talasol SPA, Ellomay Luxembourg and the Talasol Partners entered into a Partners&#8217; Agreement, or the Talasol
PA, setting forth the relationship between the prospective shareholders of Talasol, the governance and management of Talasol, the funding
and financing of Talasol and the mechanism for future transfers of Talasol&#8217;s shares. The Talasol PA provides that all matters brought
for a vote at a partners&#8217; meeting, other than specific reserved matters, will be adopted by the majorities set forth in the Spanish
Companies Act. The Talasol PA includes minority rights for the Talasol Partners and provides that we will appoint the majority of the
board members and that all matters brought for a vote at a board of directors meeting will be adopted by a simple majority of the directors,
other than specific matters.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
Talasol PA further provides that Ellomay Luxembourg will be entitled to receive a management fee from Talasol in consideration for the
administrative, support and management services to be provided to Talasol by Ellomay Luxembourg. The Talasol PA includes restrictions
on transfer of the shares of Talasol by Ellomay Luxembourg and any of the Talasol Partners, which is prohibited for a certain period
(other than in connection with certain customary permitted transfers) and thereafter is subject to a right of first offer, tag along
rights granted to the Talasol Partners on sales by Ellomay Luxembourg and a drag along right granted to Ellomay Luxembourg.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Talasol
PV Plant Project Finance</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
Talasol PV Plant obtained project financing in connection with the commencement of its construction. During January 2022, Talasol refinanced
its previous financing. For more information concerning the refinancing and the new financing of Talasol, see &#8220;Item 5.B: Liquidity
and Capital Resources.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>The
Talasol PV Plant and the Ellomay Solar PV Plant are in their operational stage, which entails several risks and uncertainties. For more
information concerning these and other risks see under &#8220;Risk Factors &#8211; Risks Related to our Business.&#8221;</i></span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Ellomay
Solar</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">On
February 26, 2021, Ellomay Solar entered into an engineering, procurement &amp; construction agreement in connection with the Ellomay
Solar PV Plant with METKA EGN Spain S.L.U., a 100% indirect subsidiary of MYTILINEOS S.A., under the Renewables &amp; Storage Development
Business Unit.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
Ellomay Solar EPC Agreement provided for a fixed and lump-sum amount of &#8364;15.82 million for the complete execution and performance
of the works defined in the EPC Agreement. The works included the engineering, procurement and construction of the Ellomay Solar PV Plant
and the ancillary facilities for injecting power into the grid and performance of two years of O&amp;M services. The EPC Agreement contained
additional standard provisions, including liquidated damages in connection with delays and performance, performance guarantees, suspension
and termination.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
June 2022, the Ellomay Solar PV Plant was connected to the electricity grid and commenced production of electricity.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Israeli
PV Projects under Development</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">For
information concerning PV projects under development in Israel see &#8220;Item 4.A: History and Development of Ellomay&#8221; under &#8220;Recent
Developments.&#8221; On July 19, 2020, we were notified that we were one of the winners of a first-in-kind quota tender process published
by the Israeli Electricity Authority for combined photovoltaic and electricity storage facilities in Israel. The tariff per kWh determined
in the tender process is NIS 0.199 for a quota of 20 MW. This tariff is linked to the Israeli CPI and is valid for a period of 23 years
commencing on the commercial operation of each relevant plant. In connection with such tender, we commenced development of the Klahim
and Komemiyut projects, each intended for 21 MW PV and 50 MW / hour batteries. The projects obtained approvals for connection to the
grid and are in the process of receiving a building permit. Construction is planned to commence during 2024. However, we thereafter waived
our rights in connection with the tender and elected to transition to the regulation that enables direct sale to end customers through
private suppliers.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">We
have additional projects under development in Israel is set forth under &#8220;Item 4.A: History and Development of Ellomay&#8221; under
&#8220;Recent Developments.&#8221;</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>The
continued development and construction of the facilities depends upon various factors, including, but not limited to, the Company&#8217;s
ability to locate sites for construction, enter into EPC agreements and obtain project finance and all other required approvals, all
upon terms acceptable to us. Therefore, there is no assurance as to whether and when such process will be completed.</i></span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Framework
Agreement for the Development of PV Projects in Italy</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
December 2019, Ellomay Luxembourg executed a Framework Agreement, or the Framework Agreement, with an established and experienced European
developer. Pursuant to the Second Framework Agreement, the developer will provide Ellomay Luxembourg with development services with respect
to photovoltaic greenfield projects in Italy in the scope of 350 MW with the aim of reaching an aggregate &#8220;ready to build&#8221;
authorized capacity of at least 265 MW over a period of forty-one months.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
Framework Agreement provides that the developer will offer all projects identified during the term of the Framework Agreement exclusively
to Ellomay Luxembourg and that, with respect to each project acquired by Ellomay Luxembourg, the developer will be entitled to provide
development services until it reaches &#8220;ready to build&#8221; status. The parties agreed on a development budget including a monthly
development service consideration, to be paid to the developer and all other payments for the tasks required to bring the projects to
a ready to build. In addition, Ellomay Luxembourg undertook to pay a success fee to the developer with respect to each project that achieves
a &#8220;ready to build&#8221; status. Currently development is progressing as planned.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
April 2021, the Framework Agreement was amended and the target of reaching an aggregate &#8220;ready to build&#8221; authorized capacity
of at least 265 MW was increased to 365 MW.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Our
Italian PV Portfolio (as more fully described under &#8220;Item 4.A: History and Development of Ellomay,&#8221; under &#8220;Recent Developments&#8221;)
was developed under the Framework Agreement.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>The
advancement and development of projects that will become part of the Framework Agreement is subject to various conditions, including
receipt of regulatory approvals and authorizations and procurement of land rights. There can be no assurance as to the aggregate capacity
of projects that will by identified by the developer and that will thereafter reach the &#8220;ready to build&#8221; status, and as to
our decision and success in completing construction of any of such projects. Any future decision of the Company with respect to the continued
development of projects will be subject to the relevant circumstances existing at the time such decision will be made. In addition, projects
in the construction stage are exposed to several risks, including delays in supply of equipment and defaults by contractors as noted
under &#8220;Item 3.D: Risk Factors&#8221; above. </i></span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
November 2019, Ellomay Luxembourg executed a Framework Agreement with the aim of reaching an aggregate authorized capacity of at least
250 MW over a three-year period. In connection with the execution of this agreement, Ellomay Luxembourg paid the developer an advance
payment of approximately &#8364;1.6 million, based on the target aggregate project capacity of 250 MW, and undertook to pay an additional
advance payment per each project when the project submits its environmental impact assessment application. As the target aggregate capacity
was not achieved, the advance payment including interest in the aggregate amount of approximately &#8364;1.9 million was refunded in August
2023.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>US
PV Market Joint Development Agreement</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">On
March 14, 2023, we entered into a Joint Development Agreement, or the JDA, for the development of solar photovoltaic projects in the
State of Texas. The JDA was executed with a project development company experienced in the development of energy projects, site acquisition,
capital markets and commercial management. Construction on the first two PV projects under the JDA, with an aggregate capacity of approximately
27.36 MW, commenced in March 2024. Construction on two additional projects with an aggregate capacity of approximately 21.5 MW is expected
to commence during the third quarter of 2024. All four projects are expected to be connected to the grid by the end of 2024.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
projects to be developed under the JDA will be subject to the ERCOT Distributed Generation, or DG, Scheme for projects of up to 10 MW
AC capacity. Under the DG Scheme, ERCOT (the electricity regulator of the State of Texas), allows owners of generation assets to sell
electricity through Qualified Scheduling Entities (QSE&#8217;s) at market rates under Real Time or Day Ahead prices at the local nodes
where the projects are located and/or to designated &#8220;Behind the Meter&#8221; clients under Power Purchase Agreements.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Competition</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Our
competitors are mostly other entities that seek land and contractors to construct new power plants on their behalf or seek to purchase
existing photovoltaic power plants. The competition in the Israeli photovoltaic sector concentrates on the ability to receive licenses
from the Israeli Electricity Authority for the construction of new photovoltaic plants, which is subject to a quota as more fully described
below and the ability to acquire existing plants that were already granted an electricity production license. The market for solar energy
is intensely competitive and rapidly evolving, and many of our competitors who strive to construct new solar power plants have established
more prominent market positions and are more experienced in this field. Our competitors in this market include Etrion Corporation (TSX,
TO:ETX), Sunflower Sustainable Investments Ltd. (TASE:SNFL), Nofar Energy Ltd, (TASE:NOFR), Doral Group Renewable Energy Resurcs Ltd.
(TASE:DORL), Meshek Energy-Renewable Energies Ltd. (TASE:MSKE), Shikun &amp; Binui Energy Ltd. (TASE:SBEN), Enlight Renewable Energy
Ltd. (NASD, TASE:ENLT), Energixs Renewable Energies Ltd. (TASE:ENRG), Allerion Clean Power S.p.A. (ARN.MI), NextEra Energy Partners (NYSE:NEP),
NRG Yield (NASD:NYLD), TransAlta Renewables (TSX:RNW), Pattern Energy Group (NASD:PEGI), Abengoa Yield PLC (NASD:ABY), NextEnergy Solar
Fund Limited (LSE:NESF), Bluefield Solar Income Fund Limited (LSE:BSIF), Infinis Energy PLC (LSE:INFI), The Renewables Infrastructure
Group Limited (LSE:TRIG) and TerraForm Power, Inc. (NASD:TERP)<span style="font-size: 10pt">.</span> If we fail to attract and retain
ongoing relationships with solar plants developers, we will be unable to reach additional agreements for the development and operation
of additional solar plants, should we wish to do so.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Customers</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
customers of our PV Plants are generally the local operators of the national grid and our PV Plants do not provide electricity or enter
into power purchase agreements with private customers. The agreements with the customers include customary termination provisions, including
in connection with breaches of the electricity producer and in the event the plant causes disruptions with the grid.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Seasonality
</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Solar
power production has a seasonal cycle due to its dependency on the direct and indirect sunlight and the effect the amount of sunlight
has on the output of energy produced. We produce a substantial amount of our PV Plants&#8217; energy during the summer months when sunlight
conditions tend to be most favorable. Although we received the technical calculation of the average production recorded in the area of
each of our PV Plants from our technical advisors and incorporated such data into our financial models, adverse meteorological conditions,
including climate change and extreme weather conditions, can have a material impact on the PV Plants&#8217; output and could result in
production of electricity below expected output.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Sources
and Availability of Components of the Solar Power Plant</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">As
noted above, the construction of our PV Plants entails the assembly of solar panels and inverters purchased from third party suppliers.
A critical factor in the success of our PV Plants is the existence of reliable panel suppliers, who guarantee the performance and quality
of the panels supplied. Degradation in such performance above a certain minimum level, generally 90% during the initial ten-year period
and 80% during the following ten-fifteen years period, is guaranteed by the panel suppliers. However, if any supplier is unreliable or
becomes insolvent, it may default on warranty obligations.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">There
are currently sufficient numbers of solar panel manufacturers at sufficient quality and we are not currently dependent on one or more
specific suppliers. Silicon is a dominant component of the solar panels and inverters are also a material component of the photovoltaic
systems, and although manufacturing abilities of silicon have increased over-time, any shortage of silicon, or any other material component
necessary for the manufacture of the solar panels, or any shortage of other components, including inverters, may adversely affect our
business. Shortages in materials may also impact the ability to construct batteries designated for energy storage.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Material
Effects of Government Regulations on the PV Plants and Projects </i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
development, construction and operation of a photovoltaic plant is subject to complex legislation covering, <i>inter alia</i>, building
permits, licenses, the governmental long-term incentive scheme and security considerations. The following is a brief summary of the regulations
applicable to our PV Plants.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Material
Effects of Government Regulations on Italian PV Plants </i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
regulatory framework surrounding photovoltaic plants located in Italy consists of legislation at the Italian national and local level.
Relevant European legislation has been incorporated into Italian legislation, as described below.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Authorization
Procedure</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Environmental
Impact Assessment (<i>Valutazione di Impatto Ambientale &#8211; VIA</i>)</span></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">According
to Legislative Decree no. 152 of 3 April 2006, or Legislative Decree no. 152/2006, regulating environmental matters:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">PV
                                            projects with an overall power capacity exceeding 1 MW are subject to the Environmental Impact
                                            Assessment screening procedure, or EIA Screening, performed by the relevant region. At the
                                            end of the EIA Screening procedure, the competent authority determines whether or not the
                                            PV project should be subject to the ordinary Environmental Impact Assessment procedure, or
                                            EIA; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">PV
                                            projects with an overall power capacity exceeding 10 MW are subject to the EIA performed
                                            by the state.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
authorization procedure follows different procedures depending on whether the project falls under the EIA procedure of the state or of
the relevant region, namely:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">PV
                                            projects falling within EIA procedure of the regions (<i>i.e.,</i> PV projects with a power
                                            capacity between 1 MW and 10 MW) are authorized by means of <b><i>Provvedimento Autorizzatorio
                                            Unico Regionale</i></b>, or PAUR, pursuant to Article 27-<i>bis</i> of the Legislative Decree
                                            no. 152/2006, which includes the EIA and the <b><i>Autorizzazione Unica</i></b> (&#8220;Single
                                            Authorization&#8221;), or AU, pursuant to Article 12 of Legislative Decree no. 387 of December
                                            29, 2003, or Legislative Decree no. 387/2003, and all other permits / nihil obstat / opinions
                                            necessary for the implementation of the PV project; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">PV
                                            projects falling within EIA procedure of the state (<i>i.e</i>., PV projects with a power
                                            capacity exceeding 10 MW) are authorized by means of the AU which includes the EIA decree.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>


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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Authorizations
for the construction and operation of PV Plants</span></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">a.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Authorization
                                            for the construction and operation of PV Plants (<i>Autorizzazione Unica</i>)</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
construction and operation of a PV plant is subject to receipt of the AU pursuant to Article 12 of Legislative Decree no. 387/2003.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
AU is an authorization issued by the relevant region (or, as the case may be, the province delegated by the region) which contains all
permits, authorizations and opinions that would otherwise be necessary to start the construction works (such as, building licenses, landscape
authorizations, permits for the interconnection facilities, etc.).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
AU is issued following a procedure called <i>Conferenza di Servizi </i>(&#8220;Steering Committee&#8221;) in which all relevant entities
and authorities participate. Such procedure is to be completed within 90 days of the filing of the relevant application. With Decree-Law
no. 13/2023 (<i>Dcreto Semplificazioni PNRR</i>) converted into Law no. 4 of April 21, 2023, the AU procedure was partially amended by
providing that, when required, the VIA shall also be included in the AU procedure. The timeline remained 90 days when no environmental
assessment is required, while, in other cases, it is reduced to 60 days, plus the time required for the relevant environmental assessment
procedure.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">b.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">PAUR</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">According
to Article 27-<i>bis</i> of Legislative Decree no. 152/2006, in case of PV projects falling within EIA procedure of the region, the interested
party shall submit to the region (or, as the case may be, the province delegated by the region) the PAUR application.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Under
the PAUR procedure, all authorizations, understandings, concessions, licenses, opinions, concerts, <i>nihil obstat</i> and consents,
however denominated, necessary for the implementation and operation of the same project are issued, including the EIA and AU.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">c.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">PAS</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Article
6 of Legislative Decree no. 28 of March 3, 2011, or Legislative Decree no. 28/2011, introduced a simplified authorization procedure,
or PAS, and aimed at authorizing certain typologies of renewable energy power plants. According to the PAS procedure, an applicant can
start the construction works of the PV project after 30 days of the filing of the application with the competent municipality provided
that the latter has in that time not raised objections and/or requested integrations.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
connection with the PAS procedure, Decree-Law no. 13/2023 has provided that after the elapse of the 30 day period without any objection
and/or requested integrations by the competent Municipality, the applicant can request publication of the PAS application in the regional
official bulletin (BUR). Such publication entails the benefit to provide certainty to the PAS and also sets the date from which the term
for appeals before the administrative Court shall run.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">With
Law No. 34/2022 (which has converted Decree no. 17/2022, so-called <i>&#8220;Decreto Energia&#8221;</i>) the application of the PAS procedure
has been further expanded and now also applies to:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">the
                                            construction of PV plants of up to 10 MW located in so called &#8220;suitable areas&#8221;
                                            (<i>aree idonee</i>) (which are to be identified on the basis of the criteria set out in
                                            Legislative Decree no. 199 of November 8, 2021, as detailed below); and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">agri-photovoltaic
                                            plants located less than 3 km away from industrial, productive or commercial areas (with
                                            no power limitation).</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Under
the circumstances described in (i) and (ii) above, the threshold for the subjection of in the applicable guidelines, including, for example,
areas of significant cultural interest or protected areas pursuant to applicable legislation, certain agricultural areas, areas of tourist
attraction and areas that perform functions for the conservation of biodiversity.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Decree-Law
no. 13/2023 has provided that also ground based PV plants located in industrial or commercial areas, dismissed dumbs and quarries, not
subject to landscape restrictions (<i>vincoli paesaggistici</i>) shall be qualified as ordinary maintenance and not be subject to any
permit or authorizations. Furthermore, in connection with agro-photovoltaic plants the Decree has provided that plants located in agricultural
areas not placed in protected areas shall be considered &#8220;items instrumental to agricultural activity&#8221; (<i>manufatti strumentali
all&#8217;attivit&#224; agricola</i>) and therefore freely installable if: (i) they are made by farmers or companies jointly owned
by farmers and electricity producers; (ii) the panels are at least 2 meters from the ground; (iii) the panels are not supported by concrete
foundations or hardly removable; (iv) the intervention is carried out in such a way as to ensure integration with agricultural activities.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">d.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">DILA</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Furthermore,
in relation to PV plants, non-substantial modifications can be authorized through the so called <i>Dichiarazione di Inizio Lavori Asseverata</i>,
or DILA, <i>i.e.,</i> a self-declaration confirmed by a qualified surveyor based on which the relevant works can start immediately. Specifically,
pursuant to Article 6-<i>bis</i> of Legislative Decree no. 28/2011, interventions on existing plants and changes to authorized projects
that do not entail an increase in the surface area occupied by the plants and the related connection works, and regardless of the resulting
electric power following the intervention, may be carried out with DILA without the need to submit such changes to environmental and
landscape assessments or to obtain any act of consent from the competent administrations.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
particular, works on ground-mounted PV plants may be carried out with DILA if, also as a result of the modification of the technological
solution used, through the replacement of modules and other components and the modification of the layout of the system, they entail
a variation of the maximum height from the ground not exceeding 50%.</span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-style: normal">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">e.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Free
                                            building activity (<i>Attivit&#224; di edilizia libera</i>)</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">According
to Law Decree no. 13/2023 (still to be converted into law) the construction and operation of PV plants:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">in
                                            areas for industrial, productive or commercial use;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">in
                                            closed and restored landfills or landfill lots; or</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(iii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">in
                                            quarries or lots of quarries that cannot be exploited further, for which the competent authority
                                            for the issue of the authorization has certified the completion of the recovery and environmental
                                            restoration activities envisaged in the authorization title in compliance with the regional
                                            regulations in force;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">is
considered an ordinary maintenance activity and is not subject to the acquisition of permits, authorizations or acts of consent, however
denominated.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-style: normal">Furthermore,
the installation of PV plants on buildings is qualified as ordinary maintenance and is not subject to any permit or authorizations (</span><span style="font-family: Times New Roman, Times, Serif">edilizia
libera<span style="font-style: normal">), with the exception of buildings considered of public interest.</span></span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-style: normal">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Suitable
areas </span></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">On
November 8, 2021, Legislative Decree no. 199, or Legislative Decree no. 199/2021 or Red II Decree, has been issued, implementing the
EU RED II (Renewable Energy Directive, no. 2018/2001) on the promotion of the use of energy from renewable sources.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

</div><!-- Field: Page; Sequence: 46; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Article
20 of the Legislative Decree no. 199/2021 provides for the regulations for the identification of surfaces and areas suitable for the
installation of renewable energy plants. In particular, the aforementioned provision provided that ministerial decrees to be adopted
by Ministry of the Environment and Energy Safety, or the MASE, in consultation with the Ministry of Culture, or MC, and after agreement
in the Unified Conference must establish uniform principles and criteria for the identification of areas suitable and unsuitable for
the installation of renewable source plants having a total capacity at least equal to that identified as necessary by the National Integrated
Energy and Climate Plan, or the PNIEC.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Subsequently,
each region (within a further 180 days of the adoption of the ministerial decrees) has to identify by specific regional laws the suitable
areas, in compliance with the principles and criteria established in the ministerial decrees. The decrees have not yet been issued, however,
Legislative Decree no. 199/2021:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">provided
                                            that pending the identification of suitable areas by the regions no moratoria or suspensions
                                            of the terms of authorization procedures may be ordered; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">identified
                                            some suitable areas.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Pursuant
to Article 20 of the Legislative Decree no. 199/2021, as recently modified and supplemented, the following areas are to be considered
as suitable areas:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">the
                                            sites where plants of the same source are already installed and where non-substantial modification
                                            works are carried out, as well as, for PV plants only, the sites where, on the date of entry
                                            into force of the provision, there are photovoltaic plants on which, without change in the
                                            occupied area or otherwise with changes in the occupied area within the limits referred to
                                            in (vi)(a) below, substantial modification work is carried out for refurbishment, repowering
                                            or complete reconstruction, including with the addition of storage systems with a capacity
                                            not exceeding 8 MWh for each MW of power of the photovoltaic plant;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">the
                                            areas of sites undergoing reclamation;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(iii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">quarries
                                            and mines that have ceased, not reclaimed or abandoned or are in an environmentally degraded
                                            condition;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(iv)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">sites
                                            and facilities at the disposal of Italian State Railways Group companies and rail infrastructure
                                            managers as well as highway concession companies;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(v)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">sites
                                            and facilities in the availability of the airport management companies within the perimeter
                                            of relevance of the airports of the smaller islands subject to the necessary technical verifications
                                            by the National Civil Aviation Authority;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(vi)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">exclusively
                                            for photovoltaic plants, including those with ground-mounted modules, in the absence of constraints
                                            under Part Two of the Legislative Decree no. 42 of January 22, 2004, or the Cultural Heritage
                                            and Landscape Code:</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">a)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">areas
                                            classified as agricultural, enclosed within a perimeter whose points are not more than 500
                                            meters from areas of industrial, artisanal and commercial use, including sites of national
                                            interest, as well as quarries and mines;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">b)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">areas
                                            within industrial plants and establishments, as defined in Legislative Decree no. 152/2006,
                                            as well as classified agricultural areas enclosed within a perimeter whose points are no
                                            more than 500 meters from the same plant or establishment; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">c)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">the
                                            areas adjacent to the highway network within a distance not exceeding 300 meters; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(vii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">without
                                            prejudice to the provisions of points above, areas that are not included in the perimeter
                                            of property subject to protection under the Cultural Heritage and Landscape Code, nor fall
                                            within the buffer zone of property subject to protection under Part Two or Article 136 of
                                            the same Legislative Decree. The buffer strip shall be determined by considering a distance
                                            from the perimeter of protected property of 500 metres for photovoltaic plants.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
order to further facilitate authorization procedures in suitable areas, Article 22 of the Legislative Decree no. 199/2021 provided that:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">in
                                            procedures for the authorization of power production facilities powered by renewable sources
                                            on suitable areas, including those for the adoption of the environmental impact assessment
                                            resolution, the competent authority for landscape matters shall express a mandatory non-binding
                                            opinion. After the time limit for the expression of the non-binding opinion has expired,
                                            the competent authority shall in any case take action on the permit application; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">the
                                            time limits for permit procedures for plants in suitable areas shall be reduced by one-third.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Such
rules shall also apply, where they fall on suitable areas, to the electrical infrastructure for the connection of plants for the production
of energy from renewable sources and those necessary for the development of the national electricity transmission grid, if strictly functional
to the increase of energy that can be produced from renewable sources.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Connection
to the National Grid</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
procedures for the connection to the national grid are provided by the Regulatory Authority for Energy, Networks and Environment (<i>Autorit&#224;
di Regolazione per Energia Reti e Ambiente</i>, or ARERA<i>.</i> Currently, the procedure to be followed for the connection is regulated
by ARERA Resolution no. 99 of 2008 (<i>Testo Integrato delle Connessioni Attive</i>, or TICA), as subsequently integrated and amended.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">According
to TICA, an application for connection must be filed, depending on the power capacity of the PV plant, with the competent local / national
grid operator, after which the latter issues in favor of the applicant the connection estimate for the connection costs of the PV project,
including the <i>Soluzione Tecnica Minima Generale</i>, or STMG. Depending on the grid operator, the STMG shall be accepted within 45
or 120 days of its issuance. However, for the authorization to the connection to become definitive, all relevant authorization procedures
(such as easements, ministerial <i>nulla osta</i>, etc.) must be successfully completed.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">There
are three alternative modalities to sell electricity:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">by
                                            way of sale on the electricity market (Italian Power Exchange - IPEX), the so called &#8220;Borsa
                                            Elettrica&#8221;;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">through
                                            bilateral contracts with wholesale dealers; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(iii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">via
                                            the so-called &#8220;Dedicated Withdrawal&#8221; introduced by ARERA Resolution no. 280/07
                                            and subsequent amendments. This is the most common way of selling electricity, as it affords
                                            direct and quick negotiations with the national energy handler (GSE), which will in turn
                                            deal with energy buyers on the market.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>The
Incentive Tariff System for PV Plants</i></span></p><div>

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<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">a.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">FER1
Incentives</span></td>
</tr></table><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
Italian government promotes renewable energies by providing certain incentives. In the past, these incentives were provided mainly through
granting of a fixed Feed-in Tariff, or FiT, for a period of 20 years from the entry into operation of a PV plant. The FiT was determined
with reference to the nominal power of the PV plant, the characteristics of the plant (plants were divided into non-integrated, partially
integrated and architecturally integrated) and the year on which the plant has been connected to the grid.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">On
July 4, 2019, the Italian Ministry for Economic Development issued a decree setting out a new incentive scheme for renewable energy plants
including PV plants (Decree 4 July 2019, or the FER1 Decree). With reference to PV plants, the FER1 Decree divides the PV plants eligible
for incentives into two groups according to type, renewable energy source and category of intervention:</span></p><div>

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</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="border: Black 1pt solid; padding: 2pt 5.4pt; width: 21%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>Group
    A</b></span></td>
    <td style="border-top: Black 1pt solid; padding: 2pt 5.4pt; width: 79%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Includes
    PV plants of new construction.</span></td></tr>
  <tr style="vertical-align: top">
    <td style="border-right: Black 1pt solid; padding: 2pt 5.4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>Group
    A-2</b></span></td>
    <td style="border-right: Black 1pt solid; padding: 2pt 5.4pt; border-bottom: Black 1pt solid; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">includes
    PV plants of new construction whose modules are installed to replace roofs of buildings and farm buildings on which asbestos or fibre
    cement is completely removed.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">With
respect to PV plants, the FER1 Decree provides incentives that are determined mainly based on the PV plant capacity. Additional bonuses
are granted to plants below 1 MWp installed as replacement of asbestos rooftops (included in group called &#8220;<b>A-2</b>&#8221; as
set forth above) and to plants with power below 100 kW installed on buildings provided that the amount of self-consumed energy is equal
at least to 40% of the total net production (&#8364;10/MWh). Below is a table summarizing the amount of the applicable reference tariff:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Plant
    Type</b></span></td><td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: center; font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center; font-weight: bold">Power level <br/>
(kW)</td><td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center; font-weight: bold">Reference <br/>
Tariff <br/>
(&#8364;/MWh)</td><td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: center; font-weight: bold">&#160;</td><td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center; font-weight: bold">A-2 plants <br/>
Bonus <br/>
(&#8364;/MWh)</td><td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: center; font-weight: bold">&#160;</td><td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center; font-weight: bold">Bonus for&#160;self-<br/>
consumption <br/>
(&#8364;/MWh)</td><td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 52%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Group A</b></span></td><td style="width: 1%">&#160;</td>
    <td style="width: 11%; text-align: center">20 &lt;P &#8804;100</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">99.75</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">10</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td>&#160;</td>
    <td style="text-align: center">100 &lt;P &#8804;1000</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">85.50</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td>&#160;</td>
    <td style="text-align: center">P &#8805;1000</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">66.50</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Group A-2</b></span></td><td>&#160;</td>
    <td style="text-align: center">20 &lt;P &#8804;100</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">105.00</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">12</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">10</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td>&#160;</td>
    <td style="text-align: center">100 &lt;P &#8804;1000</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">90.00</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">12</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">There
are two different ways of accessing the incentives depending on the power of the PV plant and the group to which it belongs:</span></p><div>

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<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Enrolment
                                            in Registers &#8211; PV plants with a power capacity of more than 20 kW and less than 1 MW
                                            that belong to Groups A and A-2 must be enrolled in the Registers, through which the available
                                            power quota is allocated on the basis of specific priority criteria. With respect to plants
                                            below 1 MW, the first criterion is the installation of the plant in areas such as closed
                                            dumps or mines, or (for A-2 plants) on public buildings such as schools or hospitals. This
                                            is aimed at giving preference to environment-friendly plants and therefore, for the avoidance
                                            of doubt, such plants will be preferred to other plants even if the tariff reduction set
                                            out in the application is lower.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

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<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Participation
                                            to Auction Procedures &#8211; PV plants with a power capacity greater than or equal to 1
                                            MW that belong to Groups A must participate in the Auction Procedures, through which the
                                            available power quota is allocated, according to the highest discount offered on the incentive
                                            level and, at equal discount, applying further priority criteria. Incentives are awarded
                                            for a period of 20 years at the outcome of seven tenders held between September 2019 and
                                            September 2021, whereby the effective granted tariff will be equal to the reference tariff
                                            as reduced by the percentage reduction offered by the applicant. With respect to plants above
                                            1 MW, the first criterion is instead the tariff percentage reduction.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">There
are two different incentive mechanisms, depending on the power of the plant:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

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<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">the
                                            All-in Tariff (<i>Tariffa Onnicomprensiva</i>, or TO) consisting of a single tariff, corresponding
                                            to the incumbent tariff, which also remunerates the electricity withdrawn by the GSE; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

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<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">an
                                            incentive calculated as the difference between the incumbent tariff and the hourly zonal
                                            energy price, since the energy produced remains at the operator&#8217;s disposal.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">For
plants above 250 KW, the incentive is paid by GSE as positive balance between the tariff and the energy price (<i>i.e.</i> the zonal
hourly price); if the balance is negative, GSE is entitled to receive the relevant amount from the producer. For plants below 250KW,
the producer can also request that GSE pay the incentive as All-in Tariff (<i>Tariffa Onnicomprensiva</i>). The incentives provided by
the FER1 Decree cannot be cumulated with the ones provided under the various <i>Conto Energia </i>(the laws governing the previous incentive
regime in Italy) and are in any case subject to achievement of an overall cap equal to an annual medium cost for incentives of &#8364;5.8
billion per year.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

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<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">b.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Red
II Decree Incentives</span></td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
Red II Decree has set-up the framework for new incentives in the PV industry that will have to be implemented through detailed legislation,
which is still to be adopted. In particular, it has been provided that different incentives will be granted depending on the type of
plant, and the main distinction is implemented between &#8220;small plants&#8221; (with capacity up to 1 MW) and &#8220;big plants&#8221;
(with capacity higher than 1MW):</span></p><div>

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<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">as
                                            to small plants with a power capacity equal to or less than 1 MW, incentives will be awarded:</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

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<td style="width: 0.75in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">a)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">as
                                            to plants with market competitive generation costs and plants belonging to energy communities
                                            or self-consumption configuration, through direct access to incentives; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">b)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">as
                                            to innovative plants and plants with higher generation costs, <span style="text-decoration:underline;text-decoration: none">through tender procedures</span>.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">as
                                            to big plants, with power capacity above a threshold of at least 1 MW, incentives will be
                                            awarded through downward auction procedures.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">According
to the RED II Decree, procedural simplifications and priority for the access to incentives are contemplated for PV plants, including
<i>inter alia</i>:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">the
                                            combination of renewables with storage systems is promoted, so as to enable greater programmability
                                            of sources, also in coordination with mechanisms for the development of centralized storage
                                            capacity;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">priority
                                            access is established for PV plants to be built on suitable areas (<i>aree idonee</i>), with
                                            the same economic offers; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(iii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">participation
                                            in incentives is facilitated for those who install PV plants following asbestos removal,
                                            with bonus facilities and the widest possible participation modalities.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
respect of the procedural simplifications required under the RED II Decree, after issuance of Law 34/2022, for suitable areas the applicable
procedure will be: (i) DILA procedure for plants with power up to 1 MW, (ii) PAS procedure for plants with power higher than 1 MW and
up to 10 MW and (iii) AU procedure for plants with power higher than 10 MW. In addition, Decree-Law no. 13/2023 has identified some new
criteria as well as reduced the minimum distance from protected areas required for the installation of the plants.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Furthermore,
with specific regard to PV plants located in suitable areas and included in programs already approved by local authorities in the field
of the so-called VAS procedure (<i>Valutazione strategica ambientale</i>) Decree-Law no. 13/2023 has excluded, until June 30, 2024, the
VIA procedure in relation to (i) projects of PV plants with total power up to 30 MW and, (ii) projects for the reconstruction, upgrading
or integral reconstruction of existing PV plants, which do not involve variation of the occupied area with total power up to 50 MW.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
amount of the incentives, as well as the financial commitment allocated thereto, shall be defined by future implementing decrees.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Decree-Law
no. 181/2023 (<i>Nuovo Decreto Energia</i>) has introduced a fund aimed at promoting the construction of PV plants in suitable areas
and new provisions aimed at supporting energy-intensive businesses (<i>imprese energivore</i>) to install renewable energy source systems.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
Red II Decree has also set up an <i>ad hoc</i> definition of long-term power purchase agreements, defined as the contract by which a
person or entity undertakes to purchase renewable sources electricity directly from an electricity producer. In that respect, the aim
of the Red II Decree is to promote the utilization of power purchase agreements, and in this respect, within 180 days of entry into force
thereof, the following actions have been planned:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">the
                                            creation of an online information board with the aim to facilitate the alignment of demand
                                            and offer;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">the
                                            setting-up of a platform for the conclusion of power purchase agreements (as already provided
                                            in previous legislation);</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(iii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">the
                                            definition of tender schemes for the supply of renewable source energy to public administration
                                            through power purchase agreements; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(iv)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">issuance
                                            of an <i>ad hoc</i> regulation in order to inform final customers as to power purchase agreements,
                                            also in order to facilitate use thereof by consumers in aggregate shape.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
this respect, in November 2023 the European Commission approved, under EU State aid rules, a &#8364;1.7 billion Italian scheme to support
agrivoltaic installations proposed by the Italian Minister of the Environment and Energy Security with Decree dated April 14, 2023. Under
such scheme, effective until December 31, 2024, the aid will be granted to agricultural producers, cumulatively, in the form of (i) grants
up to 40% of the eligible investment costs, and (ii) incentive tariffs, to be paid during the project operations for a 20-year period.
The projects will be selected through transparent and non-discriminatory bidding procedures, where beneficiaries will compete on the
basis of reverse auctions for the incentive tariff. In order to benefit from the scheme, beneficiaries must start operations before June
30, 2026.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
November 2023, the European Commission also approved another &#8364;5.7 billion Italian scheme to support renewable electricity self-production
and self-consumption (including through energy communities) proposed by the Minister of the Environment with Decree dated February 23,
2023. Part of the scheme will be effective until December 31, 2025, while the remaining part will be effective until December 31, 2027.
The scheme supports the construction of renewable power generation installations, as well as the expansion of existing ones. Beneficiaries
are projects up to 1 MW and can access the scheme on first come first served basis. The aid is composed of two measures: an incentive
on the electricity consumed by self-consumers and renewable energy communities and, for projects located in municipalities with less
than 5,000 inhabitants, a grant of up to 40% of the eligible costs.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Retention
from Incentives for Panel Disposal </i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">As
part of the implementation of legislative decree 49/2014, in December 2015, GSE published the guidelines regarding disposal of PV panels
that benefit from incentives. In particular, the decree had established that GSE was entitled to retain a certain amount from payment
of incentives as a guarantee for the cost of disposal of the panels installed on PV plants and GSE set out the determination of such
retention.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
guidelines provide that the retention shall start from the 11<sup>th</sup> year of incentive and shall be calculated, for plants with
nominal capacity higher than 10 kWp, on the basis of the following formula:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><i>[2
* (n &#8211; i + 1) / n * (n + 1)] * total quota</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">where
&#8220;<i>n</i>&#8221; is equal to 10, &#8220;<i>i</i>&#8221; is the year in which the retention is applied, and &#8220;<i>total quota</i>&#8221;
is n*number of panels (GSE has however reserved to amend the value of &#8220;n&#8221; after further assessment of disposal costs).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">For
example, for a plant with 100 panels, based on the above formula the retention is equal to &#8364;181.82 for the first year and an aggregate
amount of &#8364;1,000 for a ten-year period (assuming a duration of the incentive of 20 years).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
retention will be held by GSE in an interest-bearing escrow account and is to be returned to producers after evidence is provided to
GSE that the panels have been disposed correctly. If such evidence is not provided, GSE will proceed by itself to the disposal of the
panels and not return the retention to the producer.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
guidelines clarify that the retention shall apply also in the case that the incentive-related receivables have been the object of assignment
(as is applicable to our financed projects). PV pkants subject to the Fourth and Fifth Conto Energia (except for certain specific type
of plants) are exempt from the retention provided that the relevant panel producers are enrolled with consortia/institutions listed in
an ad hoc register held by GSE.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Furthermore,
in 2021 GSE provided that as an alternative to the retention, PV plant owners can provide a financial guarantee for the dismantling by
joining an <i>ad hoc</i> set-up collective system. In this respect, with Decree n. 54/2022 the Ministry of Ecological Transition (now,
MASE) has approved new operating instructions defined by GSE. The new guidelines provide clarifications on operational issues and set
out the timeframe (within ten years of commencement of operations) to join collective systems as an alternative to retention.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>New
provisions regarding determination of cadastral value and so called &#8220;super-depreciation&#8221;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Art.
21 of Law 208/2015 (2016 Italian Budget Law) set out new criteria concerning the determination of the cadastral value of immovable assets
with so called special and particular destination (i.e., those belonging to cadastral categories &#8220;D&#8221; and &#8220;E&#8221;).
PV plants fall within the scope of such provision. Following issuance of the law, on February 1, 2016, the Italian Tax Office (<i>Agenzia
delle Entrate</i>) published official clarifications to the scope of said provision. In connection with ground PV plants, the Italian
Tax Office pointed out that, on the basis of the new provision, modules and inverters shall not be accounted in the determination of
the associated cadastral value, which should entail a significant reduction in the calculation of the related tax burden.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">With
circular dated March 30, 2017, the Italian Tax Office further clarified that PV plants can be characterized as movable assets and particularly,
as a result, will be subject to the so called &#8220;super-depreciation&#8221;, which allows them to increase the actual cost of the
investment in PV plants by 40%, with associated significant fiscal benefits. During subsequent years such fiscal benefit has been partially
amended; for 2022 a tax credit equal to 6% of the capital expenditure (up to a maximum of 2 million euros) has been provided.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Renewables
energy cap</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">&#8220;Extra-profits&#8221;
Measure (Law No. 25 of 28 March 2022)</span></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">By
means of Article 15-bis, Law Decree no. 4 of January 27, 2022, or Law Decree no. 4/2022 (converted into Law no. 25/2022 &#8220;Extra-profits
Measure&#8221;), the Italian Government introduced a two-ways offset mechanism aimed at annulling the extra revenues that incentivized
PV plants and in general plants for the production of energy from renewable sources, to deal with the ongoing increase in energy prices.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.7pt"><span style="font-family: Times New Roman, Times, Serif">From
February 1, 2022 and originally until December 31, 2022, a rebalancing mechanism in the form of a &#8220;cap&#8221; was applied by the
GSE on the price of electricity injected into the grid by:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.7pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">PV
                                            plants with an output exceeding 20 kW that benefit from fixed feed-in tariffs under the Conto
                                            Energia scheme, which do not dependent on market prices (i.e., First, Second, Third and Fourth
                                            Conto Energia); and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">plants
                                            powered by solar, hydroelectric, geothermal and wind power sources with an output exceeding
                                            20 kW that do not benefit from incentive mechanisms, entered into operation before January
                                            1, 2010 (any grid parity plant commissioned before December 31 , 2009).</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
particular, GSE shall calculate the difference between: (a) a benchmark price (&#8220;Benchmark Price&#8221; or &#8220;Cap&#8221;) indicated
under Chart 1 of the Decree with reference to each market zone (Center-North: Eur 58/MWh; Center-South: Eur 57/MWh; North: Eur 58/MWh;
Sardinia: Eur 61/MWh; Sicila: Eur 75/MWh; Eur 56/MWh) and (b) a market price equal to: for plants mentioned above under point (i) and
for plants mentioned above under point (ii) from solar, wind, geothermal and hydro sources, the hourly zonal market price of electricity
or, with regard to fixed price power purchase agreements entered into before January 27, 2022, the price indicated in such power purchase
agreements, <span style="text-decoration:underline">or</span>, for plants mentioned under point (ii) above, different from those indicated under point (i) above, the monthly
arithmetic average of the hourly zonal electricity market prices or, with regard to fixed price power purchase agreements entered into
before January 27, 2022, the price indicated in such power purchase agreements.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">If
the difference is positive, GSE shall pay the relevant amount to the producers. Conversely, should the difference be negative, the GSE
shall set-off, or request payment of the corresponding amount from the producer.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
above does not apply to electricity sold under power purchase agreements executed before January 27, 2022, unless they are linked to
the price resulting from the electricity spot markets and do not provide an average price exceeding 10% of the hourly zonal Benchmark
Price. ARERA, by means of Resolution. 266/2022/R/EEL dated June 21, 2022 has issued implementing provisions.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Article
11 of law decree no. 115/2022 extended this mechanism to June 30, 2023, in relation to power purchase agreements executed before August
5, 2022.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Several
energy operators have challenged the Extra-profits Measure before the Regional Administrative Court of Milan requesting the Court to
raise (i) before the Constitutional Court a question of compatibility of this law with the Italian Constitution and/or (ii) before the
EU Court of Justice a question of compatibility with the EU laws. The Regional Administrative Court of Lombardia &#8211; Milan, after
the hearing of November 23, 2022, annulled the ARERA resolution implementing the Extra-profits Measure. Based on the ruling of the Court,
dated February 9, 2023, the ARERA Resolution is flawed on the preparatory and motivational level, because it has unreasonably failed
to identify on the technical level and to enhance on the regulatory level all the factors that lead to the definition of the economic
matches functional to the emergence of the inframarginal profit actually realized by the operators affected by the measure. The Court
pointed out that it is up to ARERA to identify the relevant economic items for the purpose of surfacing the actual inframarginal profit
received by the relevant producers. Thus, a complex set of elements affecting the accrual of actual profit was submitted to ARERA, starting
with costs that are necessarily incurred by producers, such as environmental compensation measures, concession fees, imbalance fees,
energy purchase costs for auxiliary plants, regional water derivation fees, and any tax levies that already affect the inframarginal
profit earned. In addition, it was pointed out that it is necessary to consider the different sizes, spatial locations, and operating
times of plants of the same type, which, because of these differences, are called upon to incur different operating costs. However, the
Court has not raised questions before the Constitutional Court / EU Court of Justice. ARERA filed appeals against such ruling, which
are still pending.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">New
price cap (Italian Budget Law of December 29, 2022, no. 197)</span></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">a.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Price
cap on revenues</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
Italian Budget Law of December 29, 2022, no. 197, also taking into account the Council Regulation (EU) 2022/1854 of October 6, 2022,
provided that as of December 1, 2022 and until June 30, 2023, a cap is applied on market revenues obtained from the production of electricity,
through a one-way compensation mechanism, with reference to electricity fed into the grid by:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">renewable
                                            source plants not covered by Article 15-bis of Decree-Law No. 4 of January 27, 2022, converted,
                                            with amendments, by Law No. 25 of March 28, 2022 (i.e., renewable source plants not subject
                                            to the &#8220;Extra-profits&#8221; Measure discussed above);</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">plants
                                            powered by non-renewable sources.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
cap on revenues shall apply to any market revenues of producers of electricity generated by the above-mentioned plants and, if any, of
intermediaries participating in wholesale electricity markets on behalf of such producers, regardless of the time horizon of the market
in which the transaction generating the revenue takes place and whether the electricity is traded bilaterally or in a centralized market.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">b.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Calculation
method</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">For
this purpose, the GSE calculates the difference between the following values:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">a
                                            reference price equal to 180 euros per MWh or, for sources with generation costs higher than
                                            the aforementioned price, to a value per technology established in accordance with criteria
                                            defined by ARERA, taking into account investment and operating costs and a fair return on
                                            investment. To this end, in the case of plants incentivized with one-way mechanisms other
                                            than those substituting green certificates, the reference price is equal to the maximum value
                                            between the amount of 180 euros per MWh and the tariff payable;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 53; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">a
                                            market price equal to the monthly average of the hourly zonal market price, calculated as
                                            a weighted average for non-programmable plants, based on the production profile of the individual
                                            plant, and as an arithmetic average for programmable plants, or, for supply contracts entered
                                            into before the date of this law that do not fall in the exclusion cases, at the price indicated
                                            in the contracts themselves.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">If
this difference is negative, the GSE shall equalize or request from the producer the corresponding amount. The producers concerned, upon
request by the GSE, shall transmit to the GSE, within thirty days of such request, a statement attesting to the information necessary
for the calculation.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">ARERA
shall regulate the implementation modalities of the aforementioned provisions also in continuity with the operational modalities defined
in relation to the Extra-profits Measures. ARERA has not issued the implementing regulations yet.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">c.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Exclusions</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Thus
price cap does not apply:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">to
                                            plants with a capacity of up to 20 kW;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">to
                                            electricity falling under the scope of Article 5-bis of Decree-Law No. 14 of February 25,
                                            2022 (i.e., coal- and oil-fired thermoelectric plants);</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(iii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">to
                                            energy subject to supply contracts concluded before December 1, 2022, provided that they
                                            are not linked to the price trend of the energy spot markets and that, in any case, they
                                            are not entered into at an average price higher than the value as calculated according to
                                            the calculation method described above, limited to the period of duration of such contracts;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(iv)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">to
                                            electricity subject to withdrawal contracts concluded by the GSE pursuant to Article 16-bis
                                            of Decree-Law No. 17 of March 1, 2022, and that, in any case, are not stipulated at an average
                                            price higher than the value as calculated according to the calculation method described above,
                                            limited to the period of duration of the aforesaid contracts; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(v)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">to
                                            renewable source plants with active incentive contracts that are regulated with a two-way
                                            mechanism, renewable source plants with contracts that provide for the withdrawal at an all-inclusive
                                            fixed tariff of electricity by the GSE as well as electricity shared within energy communities
                                            and self-consumption configurations.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">No
similar provisions have been introduced so far for the period beyond June 30, 2023. </span></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Capacity
Market </i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">At
the beginning of February 2018, the EU Commission approved the scheme presented by the Italian government for the setting up of the so-called
&#8220;capacity market&#8221;. This has been approved for a period of ten years and will allow producers of electric energy (including
from PV sources) to participate in auctions whereby they will obtain additional remuneration for providing availability to produce electric
energy.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">After
consultation with the EU institutions and green light by the latter, the capacity market has been implemented through Decree issued by
the Ministry of Economic Development on June 28, 2019. However, the remuneration provided therein is not compatible with GSE incentives.
Therefore, if a photovoltaic plant benefits from GSE incentives it cannot also benefit from incentives under the capacity market remuneration.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 54; Value: 1 --><div>
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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">On
September 3, 2019, ARERA by means of Resolution 363/2019/R/EEL, set the technical and economic parameters for the capacity auctions:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">price
                                            cap for new capacity at &#8364;75k/MW;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">price
                                            cap for existing capacity at &#8364;33k/MW;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(iii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">formula
                                            for the calculation of the strike price to be applied to the de-rated capacity production
                                            in the Ancillary Services Markets, or ASM.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">On
September 6, 2019, Terna announced the procedure and the requirements of the tenders for 2022 and 2023. Subsequently, with Decree issued
by the Ministry of Ecologic Transition of October 28, 2021, the regulatory framework of the Capacity Market formulated by Terna for the
delivery year 2024 (according to ARERA guidelines) has been approved. Thereafter, Terna formally issued the approved regulatory framework.
ARERA, by means of Resolution no. 498/2021/R/eel of November 16, 2021, approved the Capacity Market procedure and technical rules proposed
by Terna.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">On
November 23, 2021, Terna announced the procedure and requirements of the tenders for the 2024 auction and on February 21, 2022 Terna
published the results of the 2024 auction. On September 7, 2022, the EU Court of Justice confirmed the compliance of the Capacity Market
scheme with the EU state aid rules.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Material
Effects of Government Regulations on Spanish PV Plants </i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>The
Spanish general legal framework applicable to renewable energies </i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Law
24/2013, of December 27, 2013, of the Power Sector</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
Spanish general legal framework applicable to renewable energies is contained in Law 24/2013, of December 27, 2013, of the Power Sector,
or Law 24/2013, which sets forth the regulatory framework of the power sector with the objective of guaranteeing the electricity supply
with an adequate level of quality, at the least possible cost, while ensuring the economic and financial sustainability of the system
and pursuing effective competition in the power sector. At the same time, the principle of environmental sustainability is considered.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
economic and financial sustainability is the guiding principle for both the Spanish Public Administration and the agents acting under
the scope of Law 24/2013, with a view to avoid the accumulation of new tariff deficits. According to Law 24/2013, incomes must be enough
to cover expenses and, on the other hand, tariffs and charges must be automatically reviewed in case of overcoming certain established
thresholds.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
accordance with Royal Decree-law 9/2013, dated July 12, 2013, which adopts several urgent measures in order to ensure the financial stability
of the power system, or RDL 9/3013, Law 24/2013 regulates the new remuneration scheme of those renewable energy installations entitled
to a regulated income, or the so called &#8220;Specific Remuneration,&#8221; in addition to the market price. Law 24/2013 sets forth
the principle of reasonable profit for the sake of which the parameters to determine the regulated income are reviewed every six years.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
addition, Law 24/2013 establishes the priority access and dispatching of RES and high efficiency Combined Heat and Power in line with
the EU Directives, and further develops the general criteria for access and dispatching by reinforcing the principles of objectivity
and non- discrimination. Thereby, the reasons to refuse access are based on technical criteria exclusively.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Moreover,
Law 24/2013 develops a specific regulatory framework for self-consumption. Law 24/2013 defines three different categories of self-consumption
and obliges those installations connected to the grid to contribute to the costs and services of the system in the same conditions of
the other customers. It also defines the activity of &#8220;recharging managers&#8221; (for electric vehicles).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Royal
Decree Law 15/2018</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
Spanish general legal framework applicable to renewable energies includes Royal Decree Law 15/2018, of October 5, 2018, or RDL 15/2018,
of urgent measures for energy transition and consumer protection. RDL 15/2018 includes, among others, the following:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">It
                                            introduces three principles in the activity of self-consumption: (i) the right to self-consume
                                            electricity without charges; (ii) the right to shared self-consumption by one or more consumers
                                            to take advantage of economies of scale; and (iii) administrative and technical simplification.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-align: justify; text-indent: -32.15pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Any
                                            consumer &#8211; whether or not a direct consumer of the market &#8211; may acquire energy
                                            through bilateral contracting with a producer.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-align: justify; text-indent: -32.15pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">(iii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Regarding
                                            access and connection permits: (i) the validity of the access and connection permissions
                                            granted prior to the entry into force of Law 24/2013 is extended and the aforementioned permits
                                            will expire if they have not obtained the authorization of exploitation, on the later of:
                                            (a) before March 31, 2020, or (b) five years from the obtaining of the right of access and
                                            connection; (ii) the guarantees to be placed for the access and connection permits are increased
                                            from &#8364;10/kW to &#8364;40/kW; (iii) with regards to the actions carried out in the transport
                                            or distribution networks by the owners of the access and connection permits which must be
                                            developed by the grid operator or distributor, the promoter must advance 10% of the total
                                            investment value to be undertaken within a period not exceeding 12 months. Once the aforementioned
                                            amount has been paid and the administrative authorization for the generation plant has been
                                            obtained, its holder shall, within four months, enter into an Assignment Contract with the
                                            transportation grid operator or distributor, otherwise, the validity of the access and connection
                                            permits will expire.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Royal
Decree-law 17/2019</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">On
November 24, 2019, Royal Decree-law 17/2019, of November 22, or RDL 17/2019, enacted urgent measures for the necessary adaptation of
remuneration parameters affecting the electricity system and responding to the process of cessation of activity of thermal generation
plants. Among others, this new regulation updates the remuneration parameters of generation plants entitled to a specific remuneration
for the regulatory period starting January 1, 2020, as further explained below.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Royal
Decree-law 23/2020</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">On
June 25, 2020, Royal Decree-Law 23/2020 of June 23, 2020, or RD-law 23/2020, came into force, approving measures in the energy sector
and other sectors for the reactivation of the economy and introducing a series of new provisions focused on overcoming the obstacles
identified in the energy transition process and established an attractive framework for renewable energy investments in Spain.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">As
a novelty, and in connection with the expiry of access and connection to the grid permits, RD-law 23/2020 established certain permitting
milestones to be achieved by the promoters. Failure to do so, will result in expiration of the permits (except when the environmental
permit was not granted for reasons not attributable to the promoter). The milestones set up in RD-law 23/2020 were modified by Royal
Decree-Law 29/2021, of December 21, 2021, or RD-law 29/2021, Royal Decree-Law 5/2023, of June 28, 2023, or RD-Law 5/2023, and Royal Decree-Law
8/2023 of December 27, 2023, or RD-law 8/2023, as further explained below.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Royal
Decree-law 29/2021</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">On
December 23, 2021, RD-law 29/2021 came into force, approving urgent measures in the energy field for the promotion of electric mobility,
self-consumption, and the deployment of renewable energies.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">As
a novelty, and in connection with self-consumption, RD-law 29/2021 establishes that installations associated with a self-consumption
modality with a surplus installed power not exceeding 100 kW are exempt from presenting the guarantee unless they are part of a group
whose power exceeds 1 MW. Likewise, RD-Law 29/2021 adopts measures to facilitate collective or shared self-consumption&#8211;- in which
several self-consumers benefit from a single installation&#8211;- and extends this possibility to high voltage.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Finally,
the RD-law 29/2021 modifies the milestones established in RD-law 23/2020. In this sense, the dates foreseen in RDL 23/2020 for the intermediate
milestones related to the Environmental Impact Statement (EIS), the prior administrative authorization (PAA) and the construction authorization
(CAA) have been extended for an additional nine months. All this, without extending the total period of five years for the final milestone
of obtaining the administrative exploitation authorization. As noted below, RD-law 8/2023 extends the deadlines for the achievement of
the CCA and AEA for projects that have obtained the access and connection permits between January 1, 2018 and December 28, 2023.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i><span style="text-decoration:underline">Impact
on the Talasol PV Plant </span></i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
exploitation authorization is required to be granted within five years from the entry into force of RD-law 23/2020 (i.e., by June 25,
2025) as modified by RD-law 29/2021 and was already granted.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i><span style="text-decoration:underline">Impact
on the Ellomay Solar 28 MW Project </span></i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
exploitation authorization is required to be granted within five years from the entry into force of RD-law 23/2020 (i.e., by June 25,
2025) as modified by RD-law 29/2021 and was granted on January 23, 2022.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i><span style="text-decoration:underline">Impact
on future PV projects in Spain</span></i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Once
the access permit is granted to a project, the below milestones will apply (the starting date is the date the permit access was granted):</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Request
                                            of connection permit required in 6 months.</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Valid
                                            request of Prior Administrative Authorization required in 6 months.</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Obtention
                                            of environmental permit required in 31 months.</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Obtention
                                            of Prior Administrative Authorization required in 34 months.</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Obtention
                                            of Construction Administrative Authorization required in 37 months.</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Obtention
                                            of Exploitation Authorization required in 5 years.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">As
noted below, RD-law 8/2023 revised these deadlines for certain projects.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i><span style="text-decoration:underline">Impact
on operating facilities</span></i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
above regulation does not affect our existing and operating facilities.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Royal
Decree 1183/2020</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Royal
Decree-law 1183/2020, or RD 1183/2020, entered into force on December 31, 2020. RD 1183/2020 regulates in detail the procedure for obtaining
access and connection permits. RDL 23/2020 established a moratorium by virtue of which it was not possible to request new access and
connection permits until the regulation establishing the procedure for obtaining these was approved, and was then further extended until
the available capacities in accordance with the new criteria established by the Spanish National Commission on Markets and Competition
(CNMC) in Circular 1/2021 (as defined below) are published. The moratorium was released on July 1, 2022. In addition, the approval of
RD 1183/2020 determines the entry into force of art. 33.8 of Law 24/2013, which sets a validity of five (5) years of the access and connection
permits.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">RD
1183/2020 also regulates the access capacity tenders in certain nodes of the transmission grid for the integration of renewable energies.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>CNMC
Circular 1/2021</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
CNMC Circular 1/2021, or Circular 1/2021, establishing the methodology and conditions for access and connection to the electricity transmission
and distribution networks, was published on January 22, 2021. Circular 1/2021 completes the regulation process related to access and
connection to the electricity transmission and distribution networks. The regulation has been developed through the Resolution of May
20, 2021, explained further below.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Resolution
of May 20, 2021, of the CNMC, which establishes the detailed specifications for the determination of the generation access capacity to
the transmission network and distribution networks</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Resolution
of May 20, 2021, contains the detailed specifications for the determination of the access capacity of generation to the transmission
grid and distribution networks.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
purpose of the detailed specifications for the determination of the access capacity to the transmission grid for generation is to establish
the particular aspects of criteria and methodology for the calculation of the access capacity to the transmission grid for generation
or storage facilities, new or existing, which change their declared conditions, with direct connection to the transmission grid or with
connection in distribution with influence on the transmission grid.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
detailed specifications for the determination of the generation access capacity to the distribution networks determine the criteria and
methodology for the calculation of the access capacity to the distribution networks, the calculation of the access capacity to the distribution
network in the processing of requests for access of generation or transmission requests for access of generation or storage facilities,
whether new or existing that change their technical characteristics or existing facilities that change their significant technical characteristics.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Law
7/2021 of climate change and energy transition</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Law
7/2021 of May 20, 2021 on climate change and energy transition, or Law 7/2021, establishes objectives for 2030 which include the reduction
of greenhouse gas emissions of the Spanish economy by at least 23% compared to 1990; the penetration of renewable energies in final energy
consumption of at least 42%; achieving an electricity system with at least 74% of generation from renewable energies and reduction of
primary energy consumption by at least 39.5%. It also establishes that Spain must achieve climate neutrality by 2050 at the latest. The
energy transition promoted by Law 7/2021 enables the mobilization of more than 200 billion euros of investment over the decade 2021-2030.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Royal
Decree-Law 17/2021, of September 14</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Royal
Decree-Law 17/2021, of September 14, or RDL 17/2021, entered into force on September 16, 2021. From the entry into force of RDL 17/2021,
a temporary adjustment in the remuneration of certain generation facilities is foreseen, in proportion to the higher income obtained
by such facilities due to the internalization in the price of electricity in the wholesale market of the increase in the price of natural
gas in international markets by the marginal emitting technologies. The adjustment does not apply to certain, mainly smaller, plants
and to the part of the energy produced by generation facilities which is subject to a fixed price (physical or financial) PPA under certain
conditions (which included the Talasol PPA). Such adjustment was initially foreseen until March 31, 2022, but has been amended and extended
until December 31, 2023 and is now no longer in effect.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Royal
Decree-law 6/2022</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Royal
Decree-law 6/2022, of March 29, 2022, or RDL 6/2022, establishes a range of urgent measures within the framework of the National Plan
for Response to the Economic and Social Consequences of the War in Ukraine. In particular, in the renewable energy field it adopts several
measures, among others: (i) the mechanism for reducing excess electricity market remuneration due to the high quotation price of natural
gas in international markets, which was introduced under RDL 17/2021 and which is no longer in effect as explained above; (ii) it foresees
the exceptional update of the specific remuneration parameters for 2022, as will be further detailed below; (iii) it establishes certain
particularities in the environmental assessment to accelerate the permitting process; and (iv) it extends the suspension of the generation
tax (a 7% tax imposed on certain electricity generating facilities, including the Company&#8217;s PV Plants in Spain) until December
31, 2023. Please see below for a description of the relevant modifications introduced by RD-law 8/2023.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Royal
Decree-law 11/2022</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Royal
Decree-law 11/2022, dated June 25, 2022, adopts certain measures to respond to the economic and social consequences of the war in Ukraine
and to address situations of social and economic vulnerability. In particular, it extends the mechanism for reducing excess electricity
market remuneration due to the high quotation price of natural gas in international markets, until December 31, 2022.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Royal
Decree-law 17/2022</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Royal
Decree-law 17/2022, dated September 22, 2022, modifies Article 115 of the Royal Decree 1955/2000 and adopts measures to allow cogeneration
installations to recover their operating costs - due to the price situation in the energy markets - through a new type of voluntary waiver
of the specific remuneration scheme so that they can apply for inclusion in the adjustment mechanism. It also introduces measures to
promote the processing, commissioning and evacuation of renewable energy. Firstly, one of the requirements to obtain administrative authorization
for construction, or AAC, without the need for a new prior administrative authorization, or AAP, in case of modifications to generation
facilities that have already obtained AAP, is modified. Therefore, the requirement that the installed power, after the modifications,
does not exceed by more than 10% the power defined in the original project, is amended so that the resulting installed power does not
exceed the original one by more than 15%. This is without prejudice to the implications that this excess power may have for the purposes
of access and connection permits. One of the requirements established regarding the consideration of non-substantial modifications is
also revised to provide that a substantial modification in basic technical characteristics will be measured at more than 10% of the capacity
and not 5%. Deadlines for the approval of the execution project are also reduced under certain circumstances. RD-law 17/2022 also modifies
RD 413/2014 in relation to the prior registration of electricity production facilities and creates an active demand response service.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Royal
Decree-law 18/2022</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Royal
Decree-Law 18/2022, of October 18, 2022, or RDL 18/2022, establishes a wide range of measures aimed at: (i) the protection of gas and
electricity consumers, (ii) the promotion of renewable gases and digitalization, (iii) the promotion of self-consumption, (iv) the rapid
injection of energy into the network, and (v) administrative simplification for electricity production facilities, among others. This
RDL 18/2022 further extended the mechanism for reducing excess electricity market remuneration due to the high quotation price of natural
gas in international markets until December 31, 2023.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
addition, regarding the procedure for holding capacity tenders, the nodes reserved for contest by Resolution of the Secretary of State
for Energy will remain reserved regardless of whether the capacity reserved for competition has been reduced below the limit of 100 MW
for nodes of the peninsular electricity system or 50 MW for those located in non-peninsular territory, and that the conditions contained
in Article 18.2 of Royal Decree 1183/2020, of December 29, 2020 are no longer met after the resolution.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Royal Decree-law 20/2022</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Royal Decree-law introduces
several measures in the energy field, among others, (i) an exceptional and transitory procedure for the determination of the environmental
affection of generation projects from renewable energy sources and the specific authorization procedures for those projects that have
obtained a favorable opinion; and (ii) with regard to grid capacity, the suspension of certain permitting procedures related to knots
in which there is capacity that has been reserved for grid capacity tenders (in any case, this does not affect those projects for which
access and connection has already been requested).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Remuneration of Renewable
Energy Plants</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The remuneration of electricity
generation activity includes the following concepts: (i) the electric energy negotiated through the daily and intraday markets, remunerated
on the basis of the price resulting from the balance between the supply and the demand of electric energy offered in them (i.e., spot
price), (ii) adjustment services, including non-frequency services and system balance services, necessary to ensure adequate supply to
the consumer, (iii) where appropriate, the remuneration for capacity mechanism, (iv) where appropriate, the additional remuneration for
the production of electric energy in the electrical systems of non-peninsular territories, which the government may apply to cover the
difference between the investment and operational costs and the incomes of these plants, and (v) where appropriate, the specific remuneration
for the production of electric energy from renewable energy sources, high efficiency cogeneration and waste.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The legal and regulatory framework
applicable to the production of electricity from renewable energy sources in Spain was modified by RDL 9/2013, due to the adoption of
several urgent measures in order to ensure the financial stability of the power system, eliminating the former &#8220;Special Regime&#8221;
and feed-in-tariff established by Royal Decree 661/2007 and Royal Decree 1578/2008 and establishing the basis of the current remuneration
scheme applicable to renewable energies called the &#8220;Specific Remuneration&#8221; regime.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Specific Remuneration includes
two components to be paid in addition to the electricity market price: (i) an &#8220;<b>investment retribution</b>&#8221; sufficient to
cover the investment costs of a so-called &#8220;standard facility&#8221; &#8211; provided that such costs are not fully recoverable through
the sale of energy in the market, and (ii) an &#8220;<b>operational retribution</b>&#8221; sufficient to cover the difference, if any,
between the operational income and costs of a standard plant that participates in the market.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Specific Remuneration
provides that commencing July 13, 2013 all PV plants currently in operation, including our Spanish PV Plants, were no longer entitled
to receive the applicable feed-in-tariff for renewable installations but rather became entitled to receive the Specific Remuneration.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The basic concept of the Specific
Remuneration contained in RDL 9/2013 was confirmed by the current Power Act (Law 24/2013) and further developed by the following regulations:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">1.</td><td style="text-align: justify">Royal Decree 413/2014 which regulates electricity generation activity using renewable energy sources,
cogeneration and waste, or RD 413/2014.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">2.</td><td style="text-align: justify">Order IET/1045/2014 approving the retribution parameters for certain types of generation facilities of
electricity from renewable energy sources, cogeneration and waste facilities, or Order 1045/2014.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">3.</td><td style="text-align: justify">Order ETU/130/2017 updating the retribution parameters for certain types of generation facilities of electricity
from renewable energy sources, cogeneration and waste facilities, for the purposes of their application to the Regulatory Semi-period
beginning on January 1, 2017 and ending on December 31, 2019, or Order 130/2017.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">4.</td><td style="text-align: justify">RDL 17/2019, adopting urgent measures for the necessary adaptation of remuneration parameters affecting
the electricity system and responding to the process of cessation of activity of thermal generation plants.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">5.</td><td style="text-align: justify">Order TED/171/2020, updating the retribution parameters for certain types of generation facilities of
electricity from renewable energy sources, cogeneration and waste facilities, for the purposes of their application to the Regulatory
Period beginning on January 1, 2020, or Order 171/2020.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">6.</td><td style="text-align: justify">RDL 6/2022, of March 29, 2022, adopting urgent measures within the framework of the National Plan for
the response to the economic and social consequences of the war in Ukraine.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">7.</td><td style="text-align: justify">Order TED/1232/2022, of December 2, 2022, which updates the remuneration parameters for its application
to the year 2022, or Order 1232/2022.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">8.</td><td style="text-align: justify">Royal Decree-Law 5/2023 of June 28, 2023, adopting and extending certain measures in response to the economic
and social consequences of the war in Ukraine, support for the reconstruction of the island of La Palma and other situations of vulnerability;
transposing European Union Directives on structural modifications of commercial companies and reconciliation of family and professional
life for parents and carers; and on the implementation and enforcement of European Union law.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">9.</td><td style="text-align: justify">Order TED/741/2023, of June 30, 2023, updating the remuneration parameters of the applicable type installations
to determinate installations of production of electrical energy from renewable energy sources, cogeneration and waste, that applies to
the regulatory semi-period that begins on January 1, 2023 and ends December 31, 2025.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the above regulations,
the calculation of the Specific Remuneration is performed as follows:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">a)</td><td style="text-align: justify">The Specific Remuneration is calculated by reference to a &#8220;<i>standard facility&#8221;</i> during
its &#8220;<i>useful regulatory life&#8221;. </i>Order 1045/2014 characterized the existing renewable installations into different categories
(referred to as IT-category). These categories were created taking into account the type of technology, the date of the operating license
and the geographical location of renewable installations.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0pt">The Specific Remuneration
is not calculated independently for each power installation. It is calculated based on the inclusion of each existing installations in
one of the formulated IT-categories and, as a result of such inclusion, is based on the retribution parameters assigned to that particular
IT-category.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>

</div><!-- Field: Page; Sequence: 61; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">b)</td><td style="text-align: justify">According to RD 413/2014, the calculation of the Specific Remuneration of each IT-category shall be performed
taking into account the following parameters:</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in">(i)</td><td style="text-align: justify">the standard revenues for the sale of energy production, valued at the production market prices (currently
set at &#8364;54.42/MWh, &#8364;52.12/MWh and &#8364;48.82/MWh for 2020, 2021 and 2022, respectively);</td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in">(ii)</td><td style="text-align: justify">the standard exploitation costs; and</td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in">(iii)</td><td style="text-align: justify">the standard value of the initial investment. For this calculation, only those costs and investments that
correspond exclusively to the electricity production activity will be taken into account. Furthermore, costs or investments determined
by administrative rules or acts that do not apply throughout Spanish territory will not be taken into account.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 88.9pt; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">c)</td><td style="text-align: justify">Order 1045/2014 established the relevant parameters applicable to each IT-category. Therefore, to ascertain
the total amount of the Specific Remuneration applicable to a particular installation it is necessary to (i) identify the applicable IT-category
and (ii) integrate in the Specific Remuneration formula set forth in RD 413/2014 the economic parameters established by Order 1045/2014
for the relevant IT-category and the relevant update regulation (i.e., Order 171/2020).</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">d)</td><td style="text-align: justify">The Specific Remuneration is calculated for regulatory periods of six years, each divided into two regulatory
semi-periods of three years. The first Regulatory Period commenced July 14, 2013 and terminated on December 31, 2019. The second Regulatory
Period commenced January 1, 2020 and terminates December 31, 2025 (the corresponding first Regulatory Semi-Period ends December 31, 2022).</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">e)</td><td style="text-align: justify">The Specific Remuneration is designed to ensure a &#8220;reasonable rate of return&#8221; or profitability
that during the first regulatory period (i.e., until December 2019) shall be equivalent to a Spanish 10-year sovereign bond calculated
as the average of stock price in the stock markets during the months of April, May and June 2013, increased by 300 basis points (7.398%
for plants prior to RDL 9/2013). RDL 17/2019 has fixed the reasonable rate of return for the second Regulatory Period at 7.09%. However,
for plants prior to RDL the reasonable rate of return will remain at 7.398% if the conditions set forth in RDL 17/2019 are met (mainly
to withdraw from any arbitration procedure, or to renounce any compensation, in connection with the regulatory changes in Spain that modified
the remuneration regime).</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">f)</td><td style="text-align: justify">Pursuant to RD 413/2014, the revenues from the Specific Remuneration are set based on the number of operating
hours reached by the installation in a given year and adjusted to electricity market price deviations. Furthermore, the economic parameters
of the Specific Remuneration might be reviewed by the Spanish government at the end of a regulatory period or semi-period, however the
standard value of the initial investment and the useful regulatory life will remain unchanged for the entire Regulatory Useful Life of
the installation, as determined by Order 1045/2014.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 62; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The update of the Specific
Remuneration is carried out by reference to the IT-categories with the sole exception of the adjustment of annual revenues from the Specific
Remuneration as a result of the number of Equivalent Operating Hours. This update is made installation by installation by the National
Markets and Competition Commission.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Talasol PV Plant is a
&#8220;merchant&#8221; facility, i.e., will not be entitled to feed-in-tariff, &#8220;specific remuneration&#8221; or other similar regulatory
incentives.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 21.3pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Special considerations
for January 1, 2023 to December 31, 2025</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Royal Decree-Law 5/2023 of
June 28, 2023 updates the remuneration parameters of the standard installations for the regulatory half-period between January 1, 2023
and December 31, 2025 and provides that it will be carried out considering the following in re<span style="font: normal 10pt Times New Roman, Times, Serif">lation
to the estimate of the electricity market price:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font: normal 10pt Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">The
                                            estimate for the year 2023 is 109.31 &#8364;/MWh.</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font: normal 10pt Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">The
                                            estimate for the year 2024 is 108.86 &#8364;/MWh and for the year 2025 is 89.37 &#8364;/MWh.
                                            For the years 2026 and beyond, the value obtained for the year 2025 will be used.</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font: normal 10pt Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">For
                                            the calculation of the adjustment value for deviations in the market price for the year 2023
                                            that will be applied in the updating of the remuneration parameters for the regulatory half-period
                                            starting on January 1, 2026, the weighted average value of the basket of electricity market
                                            prices for the year 2023 will be the minimum value between this value and the average annual
                                            price of the daily and intraday market in the year 2023.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font: normal 10pt Times New Roman, Times, Serif">Order
TED/741/2</span>023 establishes the same estimated values for 2023, 2024 and 2025.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>The obligation to finance
the tariff deficit</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to Law 24/2013, renewable
installations are required to finance future tariff deficits whereas pursuant to the former Power Act, the tariff deficit was only financed
by five vertically integrated companies (Iberdrola, Endesa, E.On, Gas Natural Fenosa and Hidrocant&#225;brico). Therefore, in the event
there is a temporary deviation between revenues and costs of the electricity system on any given monthly settlement, this deviation shall
be borne by all the companies participating in the settlement system (including renewable facilities).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Taxation of the income
from generation of electricity</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In December 2012, the Spanish
Parliament enacted the 15/2012 on fiscal measures for the sustainability of the energy sector, which entered into force on January 1,
2013. Law 15/2012 sets forth a tax on energy generation of 7% from the total amount received for the production of electricity. RDL 15/2018
suspended this tax with respect to the electricity produced and injected to the grid during a period of six months commencing October
6, 2018 through March 31, 2019. The suspension has been extended several times, the last one by Royal Decree-law 20/2022, dated December
27, 2022, until December 31, 2023. RD-law 8/2023 regulates the determination of the taxable base and the amount of the instalments of
the tax on the value of electricity production for the year 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

</div><!-- Field: Page; Sequence: 63; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Removal of the Generation
Access Toll</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The CNMC approved Circular
3/2020, which was published in the Official State Gazette on January 24, 2020, by which the electricity generators are exempted from paying
the toll to access the grid. This means the removal of the &#8364;0.5/MWh access toll that was established for electricity generators under
Royal Decree &#8211; Law 14/2010 of December 23, 2010.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><i>Royal Decree-Law 3/2023</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Royal Decree-Law 3/2023, of
March 28, 2023, extended the production cost adjustment mechanism to reduce the price of electricity in the wholesale market regulated
in Royal Decree-Law 10/2022, of May 13, 2022 under the so-called &#8220;Iberian mechanism&#8221; until December 31, 2023.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">With respect to the reference
value for gas, which was set in RD-l 10/2022 at 40 &#8364;/MWh for six months, after which this value would be increased by 5 &#8364;/MWh
for each calendar month until the end of the mechanism. RD-L 3/2023 has established a lineal path starting at 55 &#8364;/MWh and up to
65 &#8364;/MWh in December 2023, thus ending with the same level of natural gas price that would have been reached in May 2023 if the extension
of the Iberian mechanism had it not been carried out.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, and taking into
account that RD-l 10/2022 envisaged a scheme for exemption from payment of the adjustment for those energy volumes which, through forward
contracting instruments, had been hedged against the volatility of daily and intraday market prices (e.g., PPAs) and that this regulation
was conceived as a single declaration scheme, a new period of fifteen working days from the entry into force of RD-l 3/2023, which takes
place the day after its publication in the BOE, was established for the declaration of those forward contracting instruments which, subscribed
prior to March 7, 2023, extend their effects from June to December 2023.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Royal Decree-Law 5/2023</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Royal D<span style="font-family: Times New Roman, Times, Serif">ecree-Law
5/2023 of June 28, 2023, which adopted multiple measures and regulatory modifications in various areas and affected multiple sectors,
included certain provisions affecting PV projects in Spain, mainly:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Adaptation
                                            of administrative milestones to the supply chain situation for installations that have obtained
                                            access permits since January 1, 2018: RDL 5/2023 extends by 6 months the deadline for accreditation
                                            of the fourth milestone corresponding to obtaining the Construction Administrative Authorization
                                            for holders of access permits obtained after December 31, 2017 and prior to the entry into
                                            force of RDL 5/2023 as follows:</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">o</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">If
                                            the access permit was obtained after December 31, 2017 and before the entry into force of
                                            RDL 23/2020: 43 months from June 25, 2020 (i.e., January 24, 2024); and</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">o</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">If
                                            the access permit was obtained after June 25, 2020 and before the entry into force of RDL
                                            5/2023: 43 months from the date of obtaining the access permit.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Updating
                                            of the remuneration parameters of installations under the specific remuneration regime. In
                                            relation to the specific remuneration regime, it is established for the regulatory half-period
                                            starting on January 1, 2023 and ending on December 31, 2025. The estimate of the electricity
                                            market price for the year 2023 was made considering the values of the daily market between
                                            January 1 and May 31, 2023 and the values of futures traded in said period for the energy
                                            delivered between June 1 and December 31, 2023. The estimate of the electricity market price
                                            for the year 2024 and subsequent years will be made based on the futures markets. Based on
                                            these guidelines, the estimate of the electricity market price for the year 2023 is &#8364;109.31/MWh
                                            and the estimated electricity market price for the year 2024 is 108.86 &#8364;/MWh and for
                                            the year 2025 is 89.37 &#8364;/MWh. For the years 2026 and thereafter, the value obtained
                                            for 2025 will be used. These estimated prices replace the prices estimated in application
                                            of article 22 of RD 413/2014.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">For
the calculation of the adjustment value for deviations in the market price for the year 2023, provided for in article 22 of RD 413/2014,
which will be applicable in the update of the remuneration parameters of the regulatory half-period that has its beginning on January
1, 2026, the weighted average value of the basket of electricity market prices for the year 2023 will be the minimum value between said
value, as defined in article 22 of RD 413/2014, and the average annual price of the daily and intraday market in the year 2023.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif"><i>Royal
Decree-Law</i></span><i> 8/2023</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">RD-law 8/2023, of December
27, 2023 adopted measures to face the economic and social consequences derived from the conflicts in Ukraine and the Middle East, as well
as to alleviate the effects of the drought in Spain contains many provisions affecting the energy sector in general.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For <span style="font-family: Times New Roman, Times, Serif">example,
for those new projects that have obtained the access and connection permits between January 1, 2018 and December 28, 2023, certain administrative
milestones may be extended as follows:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">the
                                            Construction Administrative Authorization shall be obtained by (i) July 25, 2024 if the access
                                            and connection permits were granted after December 31, 2017 and prior to June 25, 2020, or
                                            (ii) within 49 months as from the date of the access and connection permits (if they were
                                            granted on or after June 25, 2020).</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">the
                                            deadline for the obtention of the Exploitation Authorization may be extended up to 8 years,
                                            if certain requirements are met. The 8 years&#8217; deadline shall be calculated in the same
                                            way as the deadline for the Construction Administrative Authorization.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Other
special rules are included to address the issue of unavailability of grid connection infrastructure for the permitting process of renewable
energy projects.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additionally, RD-law 8/2023
contains new rules for access and connection tenders, such as (i) release of capacity which was reserved for self-consumption, (ii) new
criterion to evaluate tenders and (iii) incorporation of capacity auctions on the demand side and provides that from January 1, 2024 until
March 31, 2024, Electricity Special Tax will be levied at the rate of 2.5%, and from April 1, 2024 until June 30, 2024, at the rate of
3.8%.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Finally, RD-law 8/2023 extends
certain measures adopted at the time to counteract the economic and social consequences of the war in Ukraine and also introduces certain
measures on provisional and definitive operational notifications.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Material Effects of Government Regulations
on Texas, USA, PV Plants </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>Texas PV Market and Regulation </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; background-color: white"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in; background-color: white"><i>Inflation
Reduction Act </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; background-color: white"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In August 2022, the Inflation
Reduction Act, or IRA, was enacted. The IRA is widely recognized as the most significant climate legislation in the history of the United
States, and signifies a monumental step toward fostering a sustainable future. This groundbreaking legislation allocates substantial funding,
introduces impactful programs, and provides incentives aimed at accelerating the transition to a clean energy economy. The multifaceted
approach of the IRA underscores the US government&#8217;s unwavering commitment to combating climate change and underscores the importance
of collaborative efforts in addressing this global challenge.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The &#8220;IRA&#8221; ushered
in a transformative era by extending and modifying the Investment Tax Credits, or &#8220;ITC&#8221;, outlined in section 48 of the Internal
Revenue Code of 1986 (as amended). This landmark legislation introduces a comprehensive framework that grants taxpayers a tax credit for
a significant portion of the expenditures incurred when placing energy properties in service. The ITC for a taxable year equals the product
of multiplying the energy percentage established by the IRA by the basis of the energy property placed in service during that year (i.e.,
for renewable energy facilities, the eligible construction costs during the relevant year).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The IRA establishes a base
ITC rate of 30% for projects commencing construction before January 1, 2025. This rate is contingent upon satisfying the Prevailing Wage
and Apprenticeship requirements stipulated within the IRA, commonly referred to as the &#8220;IRA Wage Requirements.&#8221; Assuming compliance
with these requirements, renewable energy projects gain the potential to qualify for additional incentives such as the Domestic Content
Adder, which accounts to a 10% ITC bonus, the Energy Community Adder, which offers a similar bonus for those meeting its specified criteria
and the Low-Income Community Adder, which offers an even more substantial bonus ranging from 10% to 20%. A project can be rewarded each
adder directly and the receipt of a particular adder is not contingent on the receipt of another adder.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The IRA introduced a new way
of monetizing the tax credits by allowing eligible taxpayers, excluding tax-exempt entities, to transfer either the entirety or a portion
of certain tax credits to an unrelated party. This flexibility not only encourages collaboration but also serves as a strategic mechanism
for maximizing the utilization of available tax benefits and is expected to increase the availability of third-party tax equity financing
arrangements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>


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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in; background-color: white"><i>Texas
Renewable Energy Regulations and Permitting</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; background-color: white"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In 2023, pursuant to Section
46 of House Bill 1500, Texas repealed the Public Utility Regulatory Act, or PURA &#167; 39.904, Goal for Renewable Energy, which was the
statutory basis for the renewable portfolio standard, or RPS, mandate in the state. However, Section 53 of HB 1500 required the Public
Utility Commission of Texas, or PUCT, to adopt rules to implement a new RPS only for PV resources and phase it out so that it terminates
on September 1, 2025. HB 1500 also added PURA &#167; 39.9113, which requires ERCOT to maintain a voluntary renewable energy credits, or
RECs, trading program to maintain accreditation and a banking system to award and track RECs to facilitate voluntary contractual obligations
and verify claims regarding environmental attributes of renewable energy production in Texas.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unlike many states across
the USA, Texas does not have a Power Siting Board and does not require project developers to obtain approval for the siting or construction
of a new PV plant. The PUCT has the authority to oversee power generation companies; however, it lacks the capability to grant permits
or certificates for the construction of new electric generating plants or to directly regulate the building process of individual electric
generating plants. At the local level, Texas counties have restricted control over specific elements of the construction process, such
as the utilization of county roads, but they do not have the authority to regulate the development and construction of PV projects. While
the authorization of electric generating facilities in Texas does not necessitate state or county permits, these projects still require
general construction permits such as the General Permit for Storm Water Discharges from Construction Activities required under the Clean
Water Act and the Texas Water Code. Other permits may be required for specific components of a project, such as access driveways and utility
line crossings, or when new water wells, septic systems or concrete batch plants will be installed, but such permits are generally ministerial
and can be obtained in the ordinary course of business.	</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">According to the ERCOT protocols,
a PV facility generating 10 MWac or less is considered a Distributed Generation facility. The owner of a Distributed Generation facility
that generates electricity intended to be sold at the ERCOT wholesale market must register with the PUCT as a Power Generation Company
and submit an Emergency Operations Plan to the PUCT and ERCOT. Furthermore, the Distributed Generation facility must interconnect with
the local distribution utility through executing the standard Distributed Generation Interconnection Agreement. All of the Company&#8217;s
US PV projects are considered Distributed Generation facilities.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to the registrations
required by the PUCT, the owner of the Distributed Generation facility must register with ERCOT as a Resource Entity. Additionally, the
owner of the Distributed Generation can choose to be registered as a Settlement Only Distributed Generator which enables the facility
to be settled for exported energy only without participating in the ERCOT Ancillary Services market, Reliability Unit Commitment, and
Security-Constrained Economic Dispatch. A Settlement Only Distributed Generator must engage and designate a Qualified Scheduling Entity
who will be responsible for financial settlements on its behalf.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Lastly, in order for a Distributed
Generation facility to sell the Solar Renewable Energy Certificates (SREC) that are generated from the operations of the facility, the
facility must register with ERCOT for a Texas Renewable Energy Certificates account and with the PUCT as a Renewable Energy Credit Generator.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Texas Market Structure</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Utility-scale projects, particularly
wind and solar farms, stand as the backbone of the renewable energy capacity of Texas. These projects generate electricity and interface
with the ERCOT grid, which operates independently, overseeing the majority of the state&#8217;s electric power flow. The integration of
utility-scale renewable energy projects into ERCOT has significantly reshaped the state&#8217;s energy landscape.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Within the ERCOT market, utility-scale
renewable energy generators engage in the competitive wholesale electricity market through participating in the Real-Time energy market
or in the Day-Ahead energy market. Real-time transactions driven by supply and demand dynamics set the market-clearing price, establishing
a dynamic framework for electricity trading. As utility-scale projects contribute substantial capacity to the grid, they play a vital
role in influencing these market dynamics.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Retail customers may purchase
power from retail electricity providers, or REPs, that may procure renewable electricity in the ERCOT wholesale electric market. Renewable
energy plans offered by REPs enable consumers to make choices aligned with their sustainability goals.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>Material Effects of Government Regulations on
Israeli PV Plants </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>The Israeli Electricity Market</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Israeli electricity market
is dominated by the IEC, which manufactures and sells most of the electricity consumed in Israel and by the Palestinian Authority and
had an installed capacity of approximately 10.5 GW as of the end of 2022. According to such report, in 2022 the installed capacity of
the IEC represented 48% of the total installed capacity in the Israeli market, the actual electricity production of the IEC represented
51% of the actual electricity production in the Israeli market and the IEC&#8217;s market share in the supply segment represented 69%
of the supply segment of the Israeli market, with the remainder represented by the independent power producers. The IEC controls both
the transmission network (for long-distance transmittal of electricity) and the distribution network (for transmittal of electricity to
the end users). Unless otherwise noted, the information concerning the Israeli electricity market included in this Report is derived from
the Israeli Electricity Sector Annual Report for 2022, published by the Israeli Electricity Authority in September 2023.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Israeli Regulation</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The regulatory framework
applicable to the production of electricity by the private sector in Israel is provided under the Israeli Electricity Law, and the regulations
promulgated thereunder, including the Electricity Market Regulations (Terms and procedures for the granting of a license and the duties
of the Licensee), 1997, the Electricity Market Principles (Transactions with the supplier of an essential service), 2000, and the Electricity
Market Regulations (Conventional Private Electricity Manufacturer), 2005, or the Electricity Market Regulations. In addition, standards,
guidelines and other instructions published by the Israeli Electricity Authority (established pursuant to Section 21 of the Electricity
Law) and\or by the Israeli Electric Company also apply to the production of electricity by the private sector in Israel. The operations
of photovoltaic plants in Israel are also subject to various licensing, permitting and other regulations and requirements, issued and
supervised by the relevant municipality, the Israeli Land Authority and various governmental entities including the Ministry of Energy,
the Ministry of Agriculture, the Ministry of Interior and the Ministry of Defense.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In June 2018, the Israeli
Government issued resolution no. 3859 for the reform of the electricity market and a structural change in the IEC. In July 2018, Amendment
No. 16 to the Electricity Law was adopted. This amendment implements the reform of the Israeli electricity market and the reduction of
the IEC&#8217;s monopolistic power by providing arrangements for the removal of the system management authorities from the IEC, maintaining
the transmission and part of the distribution facilities with the IEC, increasing the competition in the production segment by forcing
the IEC to sell some of the power plants it owns and opening up the supply segment to competition.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Israeli Electricity Authority
operates in accordance with the Israeli Electricity Law and the policies of the Israeli government and the Minister of Energy and Infrastructures,
or the Minister of Energy. As part of its authorities, the Israeli Electricity Authority, among other roles, grants licenses and supervises
the compliance with the provisions of the Israeli Electricity Law and the licenses issued thereunder, sets the tariffs and the methods
for updating them and determining standards for the quality, nature and level of the services provided by the holders of essential service
supplier licenses in relation to their customers and other electricity manufacturers, including in connection with electricity consumption,
grid connections, supply reliability, infrastructure services and the purchase of electricity from licensees.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As part of the 2018 reform
referred to above, the Israeli government separated the system management unit from the IEC and transitioned it to a separate government
company (the System Manager). The System Manager is responsible for planning and development of the electricity market and maintaining
the balance between the supply and demand for electricity and ensuring survivability of the electricity production and transmission systems,
managing the transmission of the energy from the power plants through the grid to substations with the requisite reliability and quality,
timing of maintenance works in the production units and transmission system, managing the trade in electricity under competitive, equal
and beneficial terms, including entering into agreements to purchase energy availability from manufacturers and the design of development
of the transmission and transformation system.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During 2020, the Minister
of Energy instructed that the coal-based production units of the IEC gradually transition to manufacturing electricity using natural gas,
commencing in 2022 and through 2025. On the basis of this decision, in 2019 the IEC sold its production units in Alon Tavor, in 2020 its
production units in Ramat Hovav, and in 2022 its production units in Hagit Mizrach (effective June 2022). In addition, the IEC published
a procedure (PQ) for the sale of its production units in Eshkol in order to sell them to private parties in 2023 and announced the buyer
in November 2023. The sale process is currently expected to be completed during 2024. Upon completion of the sale of said production units,
the IEC&#8217;s market share in the electricity production segment in Israel will be below 50%. In November 2023, the IEC published a
tender for the BOT construction and operation (for a 25 year period) of a new power plant to be fueled by natural gas with installed capacity
of 600-900 MW in Sorek (in central Israel).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As noted above, the System
Manager was established in connection with the implementation of the 2018 reform in the electricity sector. The System Manager began operating
at the end of 2020 and the planning, development and technology unit, as well as the statistics unit, were transferred to it. In November
2021, the system management unit was also transferred to the System Manager as described above, and it began to operate fully. Commencing
its full operation, the System Manager manages the planning and development of the electricity system and the operation of the electricity
production units in Israel. Based on the Israeli Electricity Sector Report, published by the Israeli Electricity Authority in September
2023, as of the end of 2022, the IEC owned approximately 48% of the production capacity and the remainder is owned by the private electricity
producers. In addition, the System Manager is responsible for managing the electricity market in Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Renewable Energy in Israel</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 6, 1998, the Israeli
government approved the resolution of the Committee of Ministers for Environment and Hazardous Materials &#8220;to act to advance the
development of technologies for efficient use of renewable energies in order to reduce the dependency on imported fuel and reduce the
contamination of the environment.&#8221; Commencing in 2009, the Israeli government adopted a number of decisions intended to achieve
the integration of renewable energies into the local electricity market, including the adoption of a roadmap for the market in July 2011
and setting targets for renewable energy manufacturing.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The current targets for
manufacturing electricity from renewable sources were set by the Israeli government in September 2015, as follows: 10% in 2020, 13% in
2025 and 30% in 2030. These targets were set as part of the Israeli government&#8217;s efforts to reduce greenhouse gas emissions in Israel.
During 2022, the actual consumption of electricity from renewable energy represented 10.4% of the consumption and the installed capacity
(DC) of renewable energy as of the end of 2022 was 4.8 GW, compared to 3.65 GW as of the end of 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In August 2017, Amendment
no. 14 to the Electricity Sector Law, or Amendment no. 14, was published. Amendment no. 14 is in effect until December 31, 2030. Amendment
no. 14 requires that the Israeli Minister of Energy formulate a perennial work plan in connection with production of electricity from
renewable energy, which will include action items per year in order to meet the targets for renewable energy manufacturing determined
by the Israeli government. Amendment no. 14 further provides that an inter-ministerial committee will be established, which will be required
to submit its recommendations to the Israeli Minister of Energy regarding the advancement of electricity manufacturing from renewable
energy, including recommendation with respect to: (i) methods for minimizing or eliminating obstructions for manufacturing of electricity
from renewable energy, including in connection with planning and financing and (ii) methods for minimizing or eliminating obstructions
for the construction of facilities for manufacturing electricity from renewable energy. Amendment no. 14 also requires the general manager
of the Ministry of Energy to provide an annual report to the Economic Committee of the Israeli parliament on meeting the targets for manufacturing
electricity from renewable energy and with respect to the implementation of Amendment no. 14 and the perennial work plan.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Photovoltaic Plants </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Israeli Electricity
Authority determines the quotas for various traditional and renewable energy manufacturers in Israel. In the past, the Israeli Electricity
Authority determined quotas for photovoltaic installations. The previous quota of 300 MWp for medium installations, connected to the distribution
grid, and 200 MWp for large installations, connected to the transmission grid, have been fully utilized.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Israeli government resolution
no. 2117, approved in October 2014, provides for a shift of thermo-solar, wind and bio-gas quotas in aggregate of 340 megawatt to solar
quotas to be equally divided between plants connected to the transmission network and plants connected to the distribution network and
further providing that the total quotas will not exceed 114 megawatt per year.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On October 10, 2016, The
Israeli Electricity Authority published a hearing concerning the development of new photovoltaic plants with a total capacity ranging
between 800-1700 megawatts as will be determined by the Israeli Electricity Authority, or the Publication. According to the Publication,
the licenses to construct new photovoltaic plants under the new quotas shall be granted on the basis of a competitive bidding process,
in which the bidders shall propose the applicable tariffs they expect to be paid for each KW/h supplied to the electric grid. The Publication
provides that bidders who submit the lowest proposals that collectively fall within the quota limits will be entitled to develop a photovoltaic
plant and sell electricity to the grid at a price equal to the lowest tariff proposal amongst the unsuccessful bids. Consequently, all
successful bidders shall eventually sell electricity at the same tariff.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The final tariff will be
valid for a period of 23 years for plants connected to the distribution grid, and 22 years for plants connected to the transmission grid,
starting from the date of commercial operation or upon receiving a permanent license to produce electricity and the commencement of commercial
operation, as shall be determined in accordance with the then applicable licensing regulation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In November 2017, the Minister
of Energy approved an additional quota of 1,600 MWp for photovoltaic installations that will be allocated between small rooftop installations
and medium installations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the years 2017-2019,
several tenders were conducted. The results of the fourth tender related to land-mounted medium installations that were published in November
2019, set a price per KWh of NIS 0.1798 for an aggregate production capacity of 236 MWp to be constructed by the end of 2020. The results
of the second tender related to rooftop and water reservoir mounted installations, also published in November 2019, set a price per KWh
of NIS 0.2307 for an aggregate production capacity of 68 MWp. During 2020, the Israel Electricity Authority conducted additional tenders
and on December 28, 2020 the results of the most recent tender were published, with an aggregate installed capacity allocated of 609 MW
and price per KWh set at NIS 0.1745, which is 12% lower than the price set in the previous tender. In a tender held at the end of 2021
in connection with a 300 MW plant in Dimona, Israel, with 210 MW storage, the price determined was 0.0857 per KWh.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, the Israeli
Electricity Authority approved a quota of 200 MWp for tenders to be published in conjunction with the Israel Land Authority for the construction
of photovoltaic installations, of which winners were announced in connection with 136 MWp.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Licensing</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Israeli Electricity
Authority regulated the establishment of photovoltaic plants, in several categories as noted above. Medium photovoltaic plants, such as
the Israeli PV Plant, are governed by the Israeli Electricity Authority&#8217;s decision no. 284, or Decision 284. Decision 284 provides
that it will apply until the earlier of reaching a quota of 300 megawatt in Israel or until the end of 2017.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">An entity wishing to construct
and operate a photovoltaic plant in Israel is required to obtain a conditional license, subject to the fulfillment of several threshold
conditions set forth in Decision 284. A conditional license is generally valid for 42 months and the licensee, after meeting the milestones
included in the conditional license, may be granted a conditional tariff approval based on the prevailing tariff, which is valid until
the earlier of: (i) 90 days following its issuance and (ii) receipt of financing for the construction of the photovoltaic plant. In the
event the licensee obtains financing during the 90 day period, it is issued the conditional tariff becomes permanent and is linked to
the Israeli Consumer Price Index for a period of 20 years commencing upon commercial operation of the plant. Thereafter, subject to fulfilment
of certain conditions, a permanent production license is granted.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>National Outline Plan
and Permits</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In December 2010, the Israeli
National Committee for Planning and Construction approved National Outline Plan 10/d/10, or the Outline Plan, for regulating photovoltaic
plants from small rooftop mounted installations through photovoltaic plants on land plots up to a size of 0.29 square miles. The Outline
Plan provides for the construction of photovoltaic plants in two routes: permit and plan. Permits are available for rooftop mounted installations
and for land installations on specific lands, depending on their designation in the National Outline Plan and a plan route requires the
licensee to file a plan with the relevant planning authority and such a plan cannot be filed with respect to certain lands that are designated
as forests, national parks or reservations. The Outline Plan provides that preference will be given to the construction of photovoltaic
plants in areas designated for construction and development. The Outline Plan permits planning authorities to approve the construction
of photovoltaic plants in certain areas in northern and southern Israel in larger scopes than other areas.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Transfer of Rights in
a Photovoltaic Plant</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any change of control in
a photovoltaic plant that received a production license from the Israeli Electricity Authority requires amending the license and the approval
of the Israeli Electricity Authority. Therefore, in the event we execute an agreement to acquire or sell and Israeli PV plant, such acquisition
or sale, among other things, will be conditioned upon receipt of these approvals and the amendment of the relevant license.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Ellomay Luzon Energy and the Dorad Power Plant</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>General</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Ellomay Luzon Energy is an
Israeli private company in which we currently hold 50%. The remaining 50% is currently held by the Luzon Group (f/k/a the Dori Group).
The Luzon Group is an Israeli publicly traded company, whose shares and debentures are traded on the Tel Aviv Stock Exchange. Ellomay
Luzon Energy&#8217;s main asset is its holdings of 18.75% of Dorad.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Ellomay Luzon Energy</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 25, 2010, Ellomay
Energy Ltd., our wholly-owned subsidiary, entered into an Investment Agreement, or the Dori Investment Agreement, with the Dori Group
and Ellomay Luzon Energy, with respect to an investment by Ellomay Energy Ltd. in Ellomay Luzon Energy. Pursuant to the terms of the Dori
Investment Agreement, Ellomay Energy Ltd. invested a total amount of NIS 50 million (approximately &#8364;10 million) in Ellomay Luzon
Energy, and received a 40% stake in Ellomay Luzon Energy&#8217;s share capital. The transaction contemplated by the Dori Investment Agreement,
or the Dori Investment, was consummated in January 2011, or the Dori Closing Date.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Ellomay Energy Ltd. was also
granted an option to acquire additional shares of Ellomay Luzon Energy, or the Dori Option, which, if exercised, will increase Ellomay
Energy Ltd.&#8217;s percentage holding in Ellomay Luzon Energy to 49% and, subject to the obtainment of certain regulatory approvals &#8211;
to 50%. The exercise price of the options was NIS 2.4 million for each 1% of Ellomay Luzon Energy&#8217;s issued and outstanding share
capital (on a fully diluted basis). In May 2015, we exercised the first option and in May 2016, we exercised the second option, accordingly,
we currently hold 50% of Ellomay Luzon Energy and our indirect ownership of Dorad is 9.375%. The aggregate amount paid in connection with
the exercise of such options amounted to approximately NIS 2.8 million (approximately &#8364;0.7 million), including approximately NIS
0.4 million (approximately &#8364;0.1 million) required in order to realign the shareholders loans provided to Ellomay Luzon Energy by
its shareholders with the new ownership structure.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Concurrently with the execution
of the Dori Investment Agreement, Ellomay Energy Ltd., Ellomay Luzon Energy and Dori Group also entered into the Ellomay Luzon Energy
Shareholders Agreement that became effective upon the Dori Closing Date. The Ellomay Luzon Energy Shareholders Agreement provides that
each of Dori Group and Ellomay Energy Ltd. is entitled to nominate two directors (out of a total of four directors) in Ellomay Luzon Energy
for as long as the ratio of holdings between the two shareholders is in the range of 1:1 to 1:1.5 and thereafter such number of directors
based on the ratio of holdings of the parties. The Ellomay Luzon Energy Shareholders Agreement also grants each of Dori Group and Ellomay
Energy Ltd. with equal rights to nominate directors in Dorad, provided that in the event Ellomay Luzon Energy is entitled to nominate
only one director in Dorad, such director shall be nominated by Ellomay Energy Ltd. for so long as Ellomay Energy Ltd. holds at least
30% of Ellomay Luzon Energy. The Ellomay Luzon Energy Shareholders Agreement further includes customary provisions with respect to restrictions
on transfer of shares, a reciprocal right of first refusal, tag along, limitations on pledging of Ellomay Luzon Energy&#8217;s shares,
principles for the implementation of a BMBY separation mechanism, special majority rights, etc.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Following the Dori Closing
Date, the holdings of Ellomay Energy Ltd. in Ellomay Luzon Energy were transferred to Ellomay Energy LP, an Israeli limited partnership
whose general partner is Ellomay Energy Ltd. and whose sole limited partner is us. Ellomay Energy LP replaced Ellomay Energy Ltd. with
respect to the Dori Investment Agreement and the Ellomay Luzon Energy Shareholders Agreement.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Ellomay Luzon Energy&#8217;s
representative on Dorad&#8217;s board of directors is currently Mr. Ran Fridrich, who is also our CEO and a member of our Board of Directors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Ellomay Energy LP and Ellomay
Luzon Energy entered into a loan agreement and capital notes agreements, effective December 31, 2022, which provide for the conversion
of approximately NIS 23.5 million of the then outstanding shareholders&#8217; loans to capital notes, payable not less than 60 months
after the date of their execution, at the sole discretion of Ellomay Luzon Energy, with the remaining balance of shareholders&#8217; loans
(NIS 10 million), linked to the Israeli CPI and bearing an annual interest equal to the interest payable on Dorad&#8217;s senior debt
plus 3%, with a repayment date of December 31, 2023. The Luzon Group entered into a similar loan agreement and capital notes with respect
to its portion of the shareholders&#8217; loans. During the year ended December 31, 2023, Ellomay Luzon Energy repaid all outstanding
shareholders&#8217; loans.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To the best of our knowledge,
since February 2018, the holdings and rights of the Luzon Group in Ellomay Luzon Energy (including the shares of Ellomay Luzon Energy
held by the Luzon Group and the shareholders&#8217; loans provided by the Luzon Group to Ellomay Luzon Energy) are pledged to the holders
of debentures issued by the Luzon Group to the public in Israel. We provided pledges on our holdings in Ellomay Luzon Energy and the shareholder&#8217;s
loans provided to Ellomay Luzon Energy in connection with the issuance of our Series E Secured Debentures. For more information see Item
5.B<span style="font-family: Times New Roman, Times, Serif">: </span>Liquidity and Capital Resources&#8221; and &#8220;Item 10.C: Material
Contracts.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>The Dorad Power Plant </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Other than information
relating to Ellomay Luzon Energy, the disclosures contained herein concerning the Dorad Power Plant are based on information received
from Dorad and other publicly available information.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dorad currently operates a
combined cycle power plant based on natural gas, with a license to produce approximately 860 MW, located south of Ashkelon, or the Dorad
Power Plant. The Dorad Power Plant was constructed as a turnkey project, with the consideration denominated in US dollars, and commenced
commercial operations in May 2014. The electricity produced by the Dorad Power Plant is sold to end-users throughout Israel and to the
Israeli National Electrical Grid. The transmission of electricity to the end-users is done via the existing transmission and distribution
grid, in accordance with the provisions of the Israeli Electricity Market Law, 1996, or the Electricity Law, and its regulations, and
the standards and the tariffs determined by the Israeli Electricity Authority. The existing transmission and the majority of the existing
distribution lines are operated by the Israeli Electric Company, or IEC, which is the only entity that holds a transmission license in
Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Dorad Power Plant is a
combined cycle power plant based on natural gas, with a license to produce approximately 860 MW. The production capacity of the Dorad
Power Plant is subject to degradation and is currently approximately 850 MW.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Dorad Power Plant is based
on combined cycle technology using natural gas. The combined cycle configuration is a modern technology to produce electricity, where
gas turbines serve as the prime mover. After combustion in the gas turbine to produce electricity, the hot gases from the gas turbine
exhaust are directed through an additional heat exchanger to produce steam. The steam powers a steam turbine connected to a generator,
which produces additional electric energy. The Dorad Power Plant is comprised of twelve natural gas turbines, each with an installed capacity
of 50 MWp and two steam turbines, each with an installed capacity of 100 MWp. These turbines can be turned on and off quickly, with no
material losses in energy efficiency, which provides operational flexibility in accordance with the expected needs of customers and the
IEC, calculated based on a proprietary forecasting system implemented by Dorad.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The other shareholders in
Dorad are Eilat Ashkelon Infrastructure Services Ltd., or EAIS (37.5%), an Israeli private company owned by Eilat-Ashkelon Pipeline Company
Ltd., or EAPC, Edelcom Ltd., or Edelcom, (18.75%), an Israeli private company indirectly owned by Mr. Ori Edelsburg, and Zorlu Enerji
Elektrik Uretim A.S., or Zorlu, (25%), a publicly traded Turkish company. Dorad&#8217;s shareholders, including Ellomay Luzon Energy,
are parties to a shareholders agreement dated November 2010 that includes customary provisions including provisions in connection with
the holdings of Dorad&#8217;s shares, the investments in Dorad, its financing and management, restrictions of transfer of shares, including
a right of first refusal, pre-emption rights, arrangements in connection with the financing of Dorad&#8217;s operations and mechanisms
that will be implemented in the event any of Dorad&#8217;s shareholders does not meet its financing obligations, including dilution mechanisms,
certain special shareholder or board, as applicable, majority requirements (either a 66% majority or for certain resolutions a unanimous
vote requirement) and the right of each shareholder holding 10% of Dorad&#8217;s shares to nominate, replace or terminate the service
of one member to Dorad&#8217;s Board of Directors, providing that shareholders may aggregate holdings for purposes of appointment of a
director and that each director will be entitled to the voting rights determined based on a division of the holdings of the shareholder
that appointed such director by the number of directors appointed by such director. As noted below, pursuant to the shareholders&#8217;
agreement among Ellomay Luzon Energy&#8217;s shareholders and Ellomay Luzon Energy, or the Ellomay Luzon Energy Shareholders Agreement,
we are currently entitled to recommend the nomination of the Dorad board member on behalf of Ellomay Luzon Energy.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#8220;Iron Swords&#8221; War</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Due to the location of the
Dorad Power Plant, Dorad has implemented various security measures in order to enable continued operations of the Dorad Power Plant during
attacks on its premises.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the &#8220;Iron Swords&#8221;
war, which commenced on October 7, 2023, thousands of rockets were launched towards the State of Israel, and shrapnel landed several times
in the area of the Dorad Power Plant and caused immaterial damage to property and equipment, but did not impact the ongoing operation
of the power plant.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The security situation resulted
in a decrease in the scope of economic and business activity in Israel and caused, among other things, a disruption in the supply and
production chain, a decrease in the scope of national transportation, a shortage of personnel, a decrease in the value of financial assets
and an increase in the exchange rate of foreign currencies relative to the NIS.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Due to the war and in accordance
with notifications provided by the Israeli Ministry of Energy to the operator of the &#8220;Tamar&#8221; natural gas field, the natural
gas extraction from the reservoir was temporarily halted and thereafter renewed. This did not have a material impact on Dorad&#8217;s
operations, which continued operating the power plant based on natural gas purchased from Energean.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dorad estimated, based on
the information it had as of February 29, 2024 (the date of approval of Dorad&#8217;s financial statements as of December 31, 2023), that
the current events and the security escalation in Israel have an impact on its results but that the impact on its short-term business
results will be immaterial. Dorad further notes that as this event is not under the control of Dorad, and factors such as the continuation
of the war and hostilities or their cessation may affect Dorad&#8217;s assessments, as of the date of the financial statements, Dorad
had no ability to assess the extent of the impact of the war on its business activity and its medium and long-term results. Dorad continues
to regularly monitor the developments and examine the effects on its operations and the value of its assets.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Dorad Credit Facility</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dorad entered into a credit
facility agreement with a consortium led by Bank Hapoalim Ltd. as the arranger of the debt and Clal Credit and Financing Ltd. of the Clal
Insurance Company Ltd. group as the organizer of the institutional lenders&#8217; consortium, or the Dorad Credit Facility, and financial
closing of the Dorad Power Plant was reached in November 2010, with the first drawdown received in January 2011. The Dorad Credit Facility
provides that the consortium will fund up to NIS 3.85 billion, indexed to the Israeli CPI, which in any event will not be more than 80%
of the cost of the project, with the remainder to be funded by Dorad&#8217;s shareholders and that guarantees will be provided to third
parties in accordance with the project&#8217;s documents.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The funding is linked to the
Israeli consumer price index and bears interest at a rate that is subject to updates every three years based on Dorad&#8217;s credit rating.
As of December 31, 2023, the effective interest rate is approximately 5.1%. Dorad received an &#8220;investment grade&#8221; rating (AA-),
on a local scale, from S&amp;P Ma&#8217;alot. On April 4, 2023, Dorad received an update of its debt rating forecast to ilAA-/Negative
and on April 9, 2024, Dorad received a ratification of its debt rating of ilAA- with a &#8220;Stable&#8221; forecast. In the event Dorad&#8217;s
rating will be lowered, the interest rate will increase to approximately 5.5%.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The funding is repaid (interest
and principal) in semi-annual payments (on May 26 and November 26 of each year), commencing six months of the commencement of operations
of the Dorad Power Plant and for a period of 17 years thereafter. Dorad is also required to pay annual commissions in the aggregate amount
of approximately $0.17 million. The Dorad Credit Facility further includes customary provisions, representations and warranties, including
early repayment under certain circumstances and floating and fixed charges on Dorad&#8217;s assets and rights in connection with the Dorad
Power Plant, whereby a breach of representations and warranties is likely to lead, among others, to a demand for immediate repayment,
a breach of Dorad&#8217;s undertakings under its licenses and potentially the termination of the licenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Dorad Credit Facility
requires Dorad to comply with the following financial standards: (i) a debt coverage ratio of 1.10:1 over two consecutive calculation
periods, and a debt coverage ratio of 1.05:1 over the entire calculation period, and (ii) a minimal loan life coverage ratio of 1.10:1.
Dorad is required to examine compliance with these standards as of May 27 and November 27 of each year. Dorad is in compliance with these
financial standards as of December 31, 2023 (based on the compliance examination conducted as of November 27, 2023).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As noted above, Dorad&#8217;s
senior loan facility is linked to the Israeli CPI. As the production tariff is partially linked to the Israeli CPI, the exposure is minimized.
However, as the production tariff is published in delay with respect to the actual changes in the CPI, Dorad executed derivative transactions
on the Israeli CPI. In connection with the Dorad Credit Facility, Dorad&#8217;s shareholders (including Ellomay Luzon Energy) undertook
to provide guarantees to the IEC and to various suppliers and service provides of Dorad and also undertook to indemnify Dorad and the
consortium in connection with certain expenses, including certain environmental hazards. During 2023, the Israeli CPI increased by approximately
3.3%.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The aggregate investment of
Dorad in the construction of the Dorad Power Plant was approximately NIS 4.7 billion (equivalent to approximately &#8364;1.1 billion).
The Dorad Credit Facility provides for the establishment of the project&#8217;s accounts and determines the distribution of the cash flows
among the accounts. In addition, the Dorad Credit Facility includes terms and procedures for executing deposits and withdrawals from each
account and determines the minimum balances in each of the capital reserves. In connection with the Dorad Credit Facility, Dorad also
provided pledges on its properties, including fixed, floating and real property pledges.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31, 2023, the
outstanding balance of the Dorad Credit Facility was approximately NIS 2.29 billion. As of December 31, 2023, no additional withdrawals
are permitted under the Dorad Credit Facility.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with the Dorad
Credit Facility, Dorad executed an accounts agreement that regulates the opening of the project accounts and the distribution of cash
flows between the accounts. In addition, the agreement provides conditions and procedures for making deposits and withdrawals from each
account, determines the total minimum balances in each of the reserve funds, regulates the order of priorities for payments between the
accounts and other conditions in connection with the management of the accounts, including regarding transfers between accounts. The reserve
funds include a fund for debt service, a fund for heavy maintenance, a fund for distribution and a fund for regulatory fines. As of December
31, 2023, the remaining deposits in respect of the aforementioned reserve funds are in the aggregate amount of approximately NIS 522 million.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Dorad Credit Facility
includes limitations on distributions by Dorad based on compliance with financial covenants and certain undertakings. For the purposes
of the Dorad Credit Facility, a &#8220;distribution&#8221; includes also the repayment of shareholders&#8217; loans. A distribution that
is not in compliance with the Dorad Credit Facility is a cause for immediate repayment of the financing obtained by Dorad.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with the Dorad
Credit Facility, Dorad&#8217;s shareholders executed an equity injection agreement and subordinated loan agreement with Dorad and the
financing entities. These agreements include undertakings by Dorad&#8217;s shareholders to inject, separately and each according to their
relative share, from time to time and simultaneously with each withdrawal request from the Dorad Credit Facility, a total of up to 20%
cash, whether as equity or by way of shareholders&#8217; loans, which in any case will be subordinated and pledged to Dorad&#8217;s obligations
towards the financing entities, in accordance with the terms of the agreements. In accordance with the capital injection agreement and
to guarantee the shareholders&#8217; obligations to provide their relative share of funding, the shareholders provided at that time cash
and bank guarantees in the amount of their commitment net of any amounts transferred to Dorad prior to such date. The capital injection
agreement includes representations and undertakings in relation to Dorad&#8217;s shareholders and the project, the violation of which
may, among other things, cause a demand for immediate repayment of the Dorad Credit Facility, a breach of Dorad&#8217;s undertakings under
its licenses and potentially the termination of the licenses. In accordance with the subordinated loan agreement, commencing on the financial
closing date, any amount that will be designated as a loan will be linked to the Israeli CPI and will bear an annual interest rate of
10%, and it is also determined that any distribution to Dorad&#8217;s shareholders, including loan repayment, will be possible subject
to compliance with financial standards as detailed in the financing agreements (see above). As part of the Dorad Credit Facility, all
of Dorad&#8217;s issued share capital is pledged in favor of Poalim Trust Services Ltd., as trustee for the financing entities.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31, 2023, we
(through Ellomay Luzon Energy) provided guarantees to the Israeli Electricity Authority, to the System Manager, to the Israeli Electricity
Authority and to Israel Natural Gas Lines Ltd. in the aggregate amount of approximately NIS 15 million. The guarantees were provided pursuant
to a Guarantee Provision Agreement between Ellomay Luzon Energy and an Israeli bank, which includes customary provisions and also undertakings
of the Company to comply with certain financial standards and an agreement of the shareholders of Ellomay Luzon Energy that upon the occurrence
of certain events, including non-compliance with the financial standards, an event of default under the Dorad Credit Facility, a breach
by the Luzon Group, the Company, Ellomay Energy, Ellomay Energy LP or Ellomay Luzon Energy of undertakings to the bank and a change of
control of the Luzon Group, the Company, Ellomay Energy and/or Ellomay Energy LP, the shareholders&#8217; loans provided to Ellomay Luzon
Energy will be subordinated to amounts due from Ellomay Luzon Energy to the bank under this agreement and Ellomay Luzon Energy will not
be permitted to distribute any dividends or make any payments to its shareholders. Ellomay Luzon Energy is in compliance with the financial
covenants included in the Guarantee Provision Agreement.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Dorad Power Plant commenced
operations in May 2014, following the receipt of the permanent production and supply licenses discussed under &#8220;Material Effects
of Government Regulations on Dorad&#8217;s Operations&#8221; below.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dorad previously entered into
an operation and maintenance agreement with Eilat-Ashkelon Power Plant Services Ltd., or EAPPS, a wholly-owned subsidiary of EAIS, which
holds 37.5% of Dorad. Certain of the obligations under such agreement were subcontracted to Zorlu, which holds 25% of Dorad. During 2013,
EAPPS entered into an agreement with Edeltech O&amp;M Ltd. (f/k/a Ezom Ltd.), or Edeltech O&amp;M, which, to our knowledge, is 75% owned
by the controlling shareholder of Edelcom (which holds 18.75% of Dorad) with the remainder held by a company controlled by Zorlu, for
the provision of sub-contracting services to EAPPS. Despite the assignment and subcontracting agreement, EAPPS remained liable to Dorad
for all obligations under the agreement. In December 2017, Dorad and Edeltech O&amp;M executed an operation and maintenance agreement
for the Dorad Power Plant, or the Dorad O&amp;M Agreement, replacing EAPPS by Edeltech O&amp;M as the O&amp;M contractor of the Dorad
Power Plant under the same terms. On November 29, 2022, the agreement between Dorad and EAPPS was assigned to EAIS. On August 22, 2022,
the operating contractor informed Dorad that 25% of the ordinary shares and voting rights in the maintenance contractor were transferred
to Edeltech Holdings 2006 Ltd., or Edeltech Holdings, which from that date owns 100% of the issued and paid-up share capital of the maintenance
contractor.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Dorad O&amp;M Agreement
is for a period of 24 years and 11 months commencing upon receipt of a permanent license by Dorad, and in no event for a period that is
longer than the period of the lease of the Dorad Power Plant premises. Pursuant to the O&amp;M agreement, Dorad receives operation and
maintenance services, including purchase of spare parts and repairs in consideration for a fixed and variable (depending on production
during the period) monthly payment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In 2008, Dorad executed a
lease with respect to the land on which the Dorad Power Plant is located (approximately 18.5 acres) with EAIS (one of Dorad&#8217;s shareholders
who leases the land from the Israel Land Authority) for the construction period and for a period of 24 years and 11 months following the
commencement of commercial operations of the Dorad Power Plant. The lease agreement was executed by the Israel Land Authority in April
2015 and expires on May 20, 2039. The annual payment under the lease agreement is approximately NIS 3.7 million, linked to the Israeli
CPI. Dorad undertook to indemnify EAPC and EAIS for payments and expenses paid or to be paid by EAIS, including the improvement, tax payments,
fines for expenses and other payments, in respect of the land due to the construction of the power plant. In addition, Dorad&#8217;s shareholders
signed a guarantee in favor of EAPC (which transferred its lease right to EAIS) to fulfill Dorad&#8217;s obligations as stated above to
indemnify EAIS. The liability of Dorad&#8217;s shareholders according to the guarantee will be up to their holdings in Dorad&#8217;s share
capital (pro rata).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Dividends</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 6, 2021, Dorad&#8217;s
Board of Directors approved the distribution of a dividend in the amount of NIS 100 million (approximately &#8364;25.4 million) and such
dividend was distributed during May 2021. In connection with such dividend distribution, Ellomay Luzon Energy received an amount of approximately
NIS 18.8 million (approximately &#8364;4.5 million) and repaid an amount of approximately NIS 9 million (approximately &#8364;2.3 million)
loan to us. In August 2023, Dorad&#8217;s board of directors approved the distribution of a dividend in the amount of NIS 70 million (approximately
&#8364;17 million) and such dividend was distributed during August and September 2023. In connection with such dividend distribution, Ellomay
Luzon Energy received an amount of approximately NIS 13 million (approximately &#8364;3.2 million) and repaid an amount of NIS 6.5 million
to us. On December 28, 2023, Dorad&#8217;s board of directors approved the distribution of an additional dividend in the amount of NIS
70 million (approximately &#8364;17.4 million) and such dividend was distributed during December 2023 and January 2024. In connection with
such dividend distribution, Ellomay Luzon Energy received an amount of approximately NIS 13 million (approximately &#8364;3.3 million)
and repaid an amount of approximately NIS 5 million to us, thereby repaying the shareholders&#8217; loans in full. In addition, in December
2023 Ellomay Luzon Energy declared and paid its shareholders a dividend in the amount of NIS 3 million, of which we received NIS 1.5 million.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Legal Proceedings</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We and Ellomay Luzon Energy,
and several of the other shareholders of Dorad and their representatives and Dorad, are involved in various litigations as follows:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Petition to Approve a Derivative
Claim filed by Ellomay Luzon Energy and Hemi Raphael</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During April 2015, Ellomay
Luzon Energy approached Dorad in writing, requesting that Dorad take legal steps to demand that Zorlu, Wood Group Gas Turbines Ltd., the
engineering, procurement &amp; construction contractor of the Dorad Power Plant, or Wood Group, and the representatives of Zorlu on the
Dorad Board of Directors disclose details concerning the contractual relationship between Zorlu and Wood Group. In its letters, Ellomay
Luzon Energy notes that if Dorad will not act as requested, Ellomay Luzon Energy intends to file a derivative suit in the matter.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Following this demand, in
July 2015, Ellomay Luzon Energy and Ellomay Luzon Energy&#8217;s representative on Dorad&#8217;s Board of Directors, who is also a member
of our Board of Directors, filed a petition, or the Petition, for approval of a derivative action on behalf of Dorad with the Economic
Department of the Tel Aviv-Jaffa District Court. The Petition was filed against Zorlu, Zorlu&#8217;s current and past representatives
on Dorad&#8217;s Board of Directors and Wood Group and several of its affiliates, all together, the Defendants. The petition requested,
inter alia, that the court instruct the Defendants to disclose and provide to Dorad documents and information relating to the contractual
relationship between Zorlu and Wood Group, which included the transfer of funds from Wood Group to Zorlu in connection with the EPC agreement
of the Dorad Power Plant. For the sake of caution, Plaintiffs further requested to reserve their rights to demand, on behalf of Dorad,
monetary damages in a separate complaint after Dorad receives the aforementioned information and documents.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At a hearing held in April
2016, Ori Edelsburg (a director in Dorad) and affiliated companies were added as additional respondents.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In December 2016, an arbitration
agreement was executed pursuant to which this proceeding, as well as the petition to approve a derivative claim filed by Edelcom mentioned
below will be arbitrated before Judge (retired) Hila Gerstel. A statement of claim, or the Claim, was filed by Ellomay Luzon Energy and
Mr. Raphael on behalf of Dorad against Zorlu, Mr. Edelsburg, Edelcom and Edeltech Holdings, which owns Edelcom, or Edeltech, and, together
with Mr. Edelsburg and Edelcom, the Edelsburg Group, on February 23, 2017 in which they repeated their claims included in the amended
Petition and in which they required the arbitrator to obligate the defendants, jointly and severally, to pay an amount of $183,367,953
plus interest and linkage to Dorad. During March 2017, the respondents filed two motions with the arbitrator as follows: (i) to instruct
the plaintiffs to resubmit the statement of claim filed in connection with the arbitration proceedings in a form that will be identical
to the form of the statement of claim submitted to the court, with the addition of the monetary demand only or, alternatively, to instruct
that several sections and exhibits will be deleted from the statement of claim and (ii) to postpone the date for filing their responses
by 45 days from the date the motion set forth under (i) is decided upon. The plaintiffs filed their objection to both motions and some
of the respondents filed their responses to the objection. In April 2017, the Defendants filed their statements of defense. Within the
said statements of defense, Zorlu attached a third party notice against Dorad, Ellomay Luzon Energy and the Luzon Group, in the framework
of which it repeated the claims on which its defense statement was based and claimed, among other claims, that if the plaintiffs&#8217;
claim against Zorlu was accepted and would negate Zorlu&#8217;s right receive compensation and profit from its agreement with Dorad and
therefore Zorlu should be compensated in the amount of approximately NIS 906.4 million (approximately &#8364;218.3 million). Similarly,
also within their statement of defense, Edelcom, Mr. Edelsburg and Edeltech filed a third-party notice against Ellomay Luzon Energy claiming
for breaches by Ellomay Luzon Energy of the duty to act in good faith in contract negotiations and that any amount ruled will constitute
unlawful enrichment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In October 2017, EAIS, which
holds 37.5% of Dorad&#8217;s shares, filed a statement of claim in this arbitration proceeding. In its statement of claim, EAIS joins
Ellomay Luzon Energy&#8217;s and Mr. Raphael&#8217;s request as set forth in the Claim and raises claims that are similar to the claims
raised by Ellomay Luzon Energy and Mr. Raphael in the Claim.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In December 2017, Zorlu filed
a request in connection with the Ellomay Luzon Energy statement of claim to the extent it is directed at board members serving on behalf
of Zorlu and in January 2018 the arbitrator provided its ruling that the legal validity of the actions or inactions of board members of
Dorad will be attributed to the entities that are shareholders of Dorad on whose behalf the relevant board member acted and the legal
determinations, if any, will be directed only towards the shareholders of Dorad. During January 2018, Mr. Edelsburg, Edelcom and Zorlu
filed their statement of defense in connection with the claim filed by EAIS and also filed third party notices against EAIS, Ellomay Luzon
Energy and the Luzon Group claiming that EAIS and the Luzon Group enriched themselves at Dorad&#8217;s account without providing disclosure
to the other shareholders and requesting that, should the position of Ellomay Luzon Energy and EAIS be accepted in the main proceeding,
the arbitrator, among other things, obligate EAIS to refund to Dorad all of the rent paid to date and determine that Dorad is not required
to pay any rent in the future or determine that the rent fees be reduced to their market value and refund Dorad the excess amounts paid
by it to EAIS, to determine that the board members that represent EAIS and Ellomay Luzon Energy breached their fiduciary duties towards
Dorad and obligate EAIS and Ellomay Luzon Energy to pay the amount of $140 million, plus interest in the amount of $43 million, which
is the amount Zorlu received for the sale of its rights under the Dorad EPC agreement, and to rule that in connection with the engineering
and construction works performed by the Luzon Group, the Luzon Group and Ellomay Luzon Energy are required to refund to Dorad or compensate
the defendants in an amount of $24 million, plus interest and linkage and, alternatively, to determine that Mr. Edelsburg, Edelcom and
Zorlu are entitled to indemnification from the third parties for the entire amount they will be required to pay.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In May 2019, a new arbitrator
was appointed, and dates were set for the discovery process. On February 15, 2021, the arbitrator approved replacing the late Mr. Hemi
Raphael as the claimant with Mr. Ran Fridrich.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 2<span style="font-family: Times New Roman, Times, Serif">8,
2023, an arbitration award was issued in connection with the arbitration proceeding described in Section 1.16 as follows:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Petition
                                            to Approve a Derivative Claim filed by Ellomay Luzon Energy and Hemi Raphael</i> - The arbitration
                                            award accepts the majority of the claims made by the Plaintiffs and the arbitrator ruled
                                            that the defendants, severally and jointly, are required to: (i) pay Dorad an amount of $100
                                            million, bearing interest pursuant to applicable law from January 1, 2013 until the payment
                                            date, (ii) bear the expenses of the plaintiffs, including Ellomay Luzon Energy, in an aggregate
                                            amount of NIS 20 million, plus VAT, and (iii) bear 80% of the expenses of Dorad in the proceeding
                                            (while the Plaintiffs will bear the remaining 20%).</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Third-Party
                                            Notices and Counterclaims submitted by Zorlu and Edelcom</i> - The arbitration award provides
                                            that due to the ruling accepting the derivative petition as detailed above, the third-party
                                            notices and counterclaim are rejected.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Petition
                                            to Approve a Derivative Claim filed by Edelcom</i> - The arbitration award provides, inter
                                            alia, that the entrepreneurship agreement was not breached and therefore there is no basis
                                            for approving a derivative claim.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">On
July 4, 2023 and July 5, 2023, the parties to the arbitration (other than Dorad) approached the retired judge named in the arbitration
agree</span>ment as the agreed appeal arbitrator asking him to agree to rule on the appeal concerning the arbitration award. On July
6, 2023, the judge notified the parties that he agrees to rule on the appeal.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In November 2023, appeals
were submitted by the plaintiffs and the respondents against the arbitration award. In their appeal, the plaintiffs claimed, inter alia,
that the arbitrator was mistaken in his arbitration award decisions and requested alternative rulings either accepting the appeal and
cancelling the entire financial payment decision included in the arbitration award or a partial cancellation of the financial payment
decision included in the arbitration award and a relative decrease of the interest and expenses obligation imposed on the plaintiffs.
In their appeal, the defendants appealed the financial payment decision and claimed that the amount ruled should have been higher and
also appealed the interest rate determined with respect to the financial payment and the scope of expenses reimbursement. The parties
filed responses to the appeals in February 2024 and the last date for submission of answers to the responses was scheduled for May 2024.
A preliminary hearing was scheduled for May 30, 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As Edelcom did not appeal
the arbitrator&#8217;s decision with respect to the petition to approve a derivative claim filed by Edelcom in connection with the entrepreneurship
fees, the arbitration award remains unchanged with respect to this petition and claim.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of the date hereof, in
light of the preliminary stage of the appeals and based on the advice of legal counsel of Ellomay Luzon Energy, it is too early to estimate
the outcome of the appeals. Based on advice from its legal counsel, Dorad did not include the impact of the arbitration award in its financial
statements for the year ended December 31, 2023.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For more information see Note
6 to our annual financial statements included elsewhere in this Report.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Petition to Approve a Derivative
Claim filed by Edelcom</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In February 2016 the representatives
of Edelcom, which holds 18.75% of Dorad, and Ori Edelsburg sent a letter to Dorad requesting that Dorad file a claim against Ellomay Energy,
our wholly-owned subsidiary that holds Ellomay Luzon Energy&#8217;s shares, the Luzon Group and Ellomay Luzon Energy referring to an entrepreneurship
agreement that was signed in November 2010 between Dorad and the Luzon Group, pursuant to which the Luzon Group received payment in the
amount of approximately NIS 49.4 million (approximately &#8364;11.9 million) in consideration for management and entrepreneurship services.
Pursuant to this agreement, the Luzon Group undertook to continue holding, directly or indirectly, at least 10% of Dorad&#8217;s share
capital for a period of 12 months from the date the Dorad Power Plant is handed over to Dorad by the construction contractor. The Edelcom
Letter claims that as a consequence of the management rights and the options to acquire additional shares of Ellomay Luzon Energy&#160;granted
to us&#160;pursuant to the Dori Investment&#160;Agreement, the holdings of the Dori Group in Dorad have fallen below 10% upon execution
of the Dori Investment Agreement. The Edelcom Letter therefore claims that Dori Group breached its commitment according to entrepreneurship
agreement. The Edelcom Letter requests that Dorad take all legal actions possible against the Dori Group, Ellomay Luzon Energy, Ellomay
Energy and Mr. Hemi Raphael to recover the amounts it paid in accordance with the entrepreneurship agreement and also notify Ellomay Luzon
Energy that, until recovery of the entrepreneurship fee, Dorad shall withhold the relevant amount from any amount Ellomay Luzon Energy
is entitled to receive from Dorad, including repayments of shareholders&#8217; loans and dividend distributions. In July 2016, Edelcom
filed a petition for approval of a derivative action against Ellomay Energy, the Luzon Group, Ellomay Luzon Energy and Dorad. In November
2016, Ellomay Energy and Ellomay Luzon Energy filed a joint petition requesting that this application be transferred to the same judges
who will be adjudicating the petition filed by Ellomay Luzon Energy and Hemi Raphael mentioned above and in November 2016, Edelcom filed
an objection to this request. As noted above, in December 2016, an arbitration agreement was executed pursuant to which this proceeding,
as well as the proceeding mentioned above will be arbitrated before Judge (retired) Hila Gerstel and the proceeding before the court was
deleted. On February 23, 2017, Edelcom submitted the petition to approve the derivative claim to the arbitrator. On April 30, 2017, Ellomay
Energy filed its response to the petition and on May 1, 2017 the Luzon Group filed its response to the petition. For more information
see above under &#8220;Petition to Approve a Derivative Claim filed by Ellomay Luzon Energy and Hemi Raphael&#8221;.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Opening Motion filed by
Zorlu</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On April 8, 2019, Zorlu filed
an opening motion with the District Court in Tel Aviv against Dorad and the directors serving on Dorad&#8217;s board on behalf of Ellomay
Luzon Energy and EAIS. In the opening motion, Zorlu asked the court to instruct Dorad to convene a shareholders meeting and to include
on the agenda of this meeting a discussion and a vote on the planning and construction of an additional power plant adjacent to the existing
power plant, or the Dorad 2 Project. Zorlu claimed that although the articles of association of Dorad provides that the planning and construction
of an additional power plant requires a unanimous consent of the Dorad shareholders, and while Zorlu and Edelcom are opposed to this project,
including due to the current disagreements among Dorad&#8217;s shareholders, Dorad continued taking actions to advance the project, which
include spending substantial amounts of Dorad&#8217;s funds. Zorlu further claims that the representatives of Ellomay Luzon Energy and
EAIS on the Dorad board have acted to prevent the convening of a shareholders meeting as requested by Zorlu. Edelcom thereafter joined
the opening motion as an additional respondent that opposes the advancement of the project at this stage. In addition, Ellomay Luzon Energy
and EAIS were joined as additional respondents. On June 28, 2021, a ruling was handed in which the court ordered Dorad to convene a special
shareholders meeting, on whose agenda will be the planning and construction of the &#8220;Dorad 2 Project&#8221;. Following the said ruling,
Dorad&#8217;s board resolved that Dorad&#8217;s management will continue to examine the feasibility of the &#8220;Dorad 2 Project&#8221; and
its implications, and bring its decisions to Dorad&#8217;s board approval. Dorad&#8217;s Board of Directors further resolved that to the
extent it will approve the Dorad 2 Project, the decision will be presented to Dorad&#8217;s shareholders for approval. On July 27, 2021,
a shareholders meeting of Dorad was held. In accordance with the court ruling, the agenda for such meeting included two resolutions (1)
the planning and construction of the Dorad 2 Project &#8211; a resolution that Ellomay Luzon Energy and EAIS supported and Edelcom and
Zorlu rejected; and (2) approval of the aforementioned resolution of the Dorad Board of Directors &#8211; a resolution which Ellomay Luzon
Energy and EAIS supported and with respect to which Edelcom and Zorlu abstained. Following such shareholders meeting, correspondence was
exchanged between Dorad and Edelcom concerning, among other issues, the implications of the aforementioned resolutions. Dorad estimates
(after consulting with legal counsel) that by convening the aforementioned shareholders meeting Dorad complied with the court ruling and
therefore the opening motion process ended.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Potential Expansion of the Dorad Power Plant</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As noted above, Dorad is examining
the possibility of constructing an additional power plant within the area of the existing Dorad Power Plant, that will become part of
the existing plant. On July 13, 2020, Dorad submitted to the National Infrastructure Committee, or NIC, plans for public objections, on
January 11, 2021, the NIC decided to postpone the final decision and on December 27, 2021, the NIC decided to raise the construction of
another power plant to a government decision. The NIC&#8217;s decision includes conditions to the issuance of the building permit.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 28, 2023, the Israeli
Government approved the national infrastructures plan (NIP 11/b) which governs, among other issues, the expansion of the power plant owned
by Doard by approximately 650 MW.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 12, 2023, Dorad received
a copy of a petition submitted by O.P.C Hadera Expansion Ltd., or OPC, concerning the approval of the Israeli Government. On July 19,
2023, the Israeli Supreme Court rejected the petition submitted by OPC due to non-exhaustion of proceedings. On July 24, 2023, Dorad received
a copy of OPC&#8217;s letter to the Israeli Government, through the Secretary of the Government, requesting an urgent response to OPC&#8217;s
letter dated July 3, 2023 and noting that to the extent the Government does not act accordingly, OPC will have no other recourse and will
file a new petition with the court. Furthermore, on July 17, 2023, Dorad received a copy of a petition submitted by Reindeer Energy Ltd.,
or Reindeer, concerning the same approval of the Israeli Government. On July 19, 2023, the Israeli court resolved that Reindeer is required
to notify the court by July 24, 2023 why its petition should not be deleted as it is premature, without an order to pay legal expenses
and while reserving its claims until a final resolution is adopted in the matter. On July 25, 2023, Dorad received a copy of Reindeer&#8217;s
response, claiming that the petition is not premature and that without the court&#8217;s interference at this stage, the possibility to
compete over building a power plant in Central Israel will be eliminated until 2035, therefore, Reindeer claims that the court&#8217;s
suggestion does not maintain its rights but eliminates them and harms the public interest, which requires a discussion of the petition.
On July 27, 2023, the court rejected Reindeer&#8217;s petition resolving that it is premature and that under the circumstances there is
no justification to discuss it at this time because it is unclear what the recommendation of the National Infrastructure Committee will
be after another discussion and what will be the final resolution of the Israeli Government and the basis of the resolution.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On January 16, 2024, Dorad
received a letter from Edelcom stating that Edelcom, as a shareholder of Dorad, objects to the proposal to expand the power plant.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Following the approval of
NIP 11/b, Dorad approached the NIC for a building permit, however, on January 11, 2024, Dorad was informed in an e-mail message from the
NIC that its position is that as long as NIP 20/B or NIP 91 are not definitively rejected, it is not possible to issue a building permit
for the new power plant, based on a legal opinion of legal advisers in the NIC and in the planning administration, which were sent to
Dorad on January 15, 2024. On February 7, 2024, Dorad, through its legal counsel, sent a letter, among other addressees to the legal advisers
of the NIC and the planning administration that prepared the aforesaid legal opinion, arguing that the NIC&#8217;s refusal to grant Dorad
a building permit is illegal and contrary to the proper interpretation of NIP 11/B. On February 26, 2024, Dorad received a response from
the NIC, which stands by its position that the issuance of building permits for the expansion of the power plant should not be promoted.
In Dorad&#8217;s opinion, the NIC&#8217;s opposition and conduct in refusing to issue building permits is illegal. In March 2024, Doard
filed a petition with the Israeli Supreme Court requesting the issuance of a conditional order to the NIC instructing it to provide the
reasons for its refusal to attend to the request for issuance of building permits for the construction of the &#8220;Dorad 2&#8221; power
plant, which was approved by the Israeli government as aforementioned. Dorad also requested that following the issuance of this order,
the order will become a permanent order instructing the NIC to attend to the issuance of the building permits. A response to the petition
is due to be filed in May 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 19, 2024, Dorad
received a planning survey to receive the expansion of the power plant from the System Manager, which allows electricity to be taken out
commencing October 2028.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The expansion of the Dorad
Power Plant by building the Dorad 2 facility in a combined cycle technology, will result in an aggregate capacity of the Dorad Power Plant
of approximately 1,500 MW and the approved plan also enables adding batteries with a capacity of approximately 80 MW. The Company expects
that if the Dorad 2 plan will materialize and the expansion will be completed, the expansion of the power plant will increase the revenues
and income of Dorad. <i>The expansion has not yet been approved by Dorad and its approval and construction are subject to various conditions,
including, among others, receipt of corporate and other approvals and permits, obtaining financing, receipt of licenses from the Israeli
Electricity Authority, regulatory changes and market terms and condition, all of which are not within the control of Dorad or the Company.
As of the date of this report, Dorad has not yet reached a final decision with respect to Dorad 2 and there can be no assurance as to
if, when and under what terms it will be advanced or promoted by Dorad. As of the date of this report, Dorad has not yet reached a final
decision with respect to Dorad 2 and there can be no assurance as to if, when and under what terms it will be advanced or promoted by
Dorad.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Competition</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dorad competes with the IEC
and other private electricity manufacturers with respect to sales to potential customers directly.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As long as the regulation
remains unchanged, as the IEC controls the transmission and the majority of the delivery lines and the connection of the private power
plants to the Israeli national grid, Dorad and the other private manufacturers are dependent on the IEC for their operations and may also
be subject to unilateral actions on the part of IEC&#8217;s employees.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31, 2023, there
are several private power plants operating in Israel for the production and supply of electricity. To the best of the Company&#8217;s
knowledge and according to public information, in addition to those stations sold by the IEC to private parties as mentioned below, in
2012 the OPC Rotem Ltd. Power plant, which is a private plant located in the Rotem Plain that produces electricity using turbines that
consume natural gas in the combined cycle technology, with a capacity of about 440 MW began operating. In September 2015, Dalia Energy
Power Ltd. began operating a private power plant operated by natural gas with a production capacity of approximately 900 MW, at the Tzafit
site, located adjacent to the &#8220;Tzafit&#8221; power plant of the IEC and in the jurisdiction of the Yoav Regional Council. At the
beginning of 2021, the IPM company began operating a private power plant with a production capacity of approximately 450 MW, in the industrial
area of Be&#8217;er Tuvia. In addition, commencing the end of 2015, a number
of additional private plants operate through cogeneration (which is the use of steam as part of industrial processes) with an aggregate
capacity of approximately 1,000 MW. Based on the Israeli Electricity Sector Report, published by the Israeli Electricity Authority in
September 2023, the private power producers owned a market share in the production segment of approximately 43% of the installed electricity
capacity in Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Customers</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dorad entered into electricity
supply agreements with various commercial consumers for the entire production capacity of the Dorad Power Plant (assuming maximal consumption
by all customers in the summer season, characterized by peaks of demand from customers). The majority of the agreements are for ten years
terms and may be extended for an additional five years, and the agreements do not obligate the customers to purchase a minimum quantity
of electricity. The end-users include the Israeli Ministry of Defense, Mekorot (Israel&#8217;s water utility and supply company), Israeli
food manufacturers (Ossem and Strauss), Israeli hotel chain (Isrotel), and others. The electricity supply agreements are, mainly, based
on a reduced rate compared to the rate applicable to electricity consumers in the general market, as determined by the Israeli Electricity
Authority. There is no regulatory or contractual limit on the discount rate at which electricity can be sold by Dorad. Dorad&#8217;s supply
agreements, with the exception of agreements executed prior to the extension of the supply license) are required to include an exit right
for the customer no later than five years from the date of the start of electricity supply.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Covid-19 crisis affects
Dorad&#8217;s customers (which, as noted above, include hotels and other industrial customers), and during 2020 Dorad reported a certain
decrease in consumption of electricity by its customers and by the IEC due to the Covid-19 crisis and its implications on the tourism
industry, the industrial entities and electricity consumption in general. During the first quarter of 2022, Dorad reported an increase
in the use of electricity of several of its customers compared to the same period in 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to the provision
of electricity to specific commercial consumers, in August 2010, Dorad entered into an agreement with the IEC, which governs the provision
of infrastructure services and electricity from the IEC to Dorad, provides that Dorad will supply availability and energy to the IEC based
on a production plan determined by the Israeli Electricity Authority, on IEC&#8217;s requirements and on the tariffs determined by the
Israeli Electricity Authority. According to the aforementioned agreement, the IEC connected Dorad&#8217;s power plant to the electricity
grid, and also provides Dorad with infrastructure, backup and ancillary services that are required to enable the supply of electricity
by Dorad to the private consumers at the time and in consideration for the prices that will be determined according to the standards applicable
to Dorad, as determined from time to time by the Israeli Electricity Authority. In the agreement, provisions were established, among other
things, regarding the equipment, materials and assets used and intended for use to connect the Dorad Power Plant to the electricity grid,
their operation by the IEC, their inspection and the provision of maintenance services for them.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">According to the agreement
of Dorad with the System Manager, Dorad undertook to provide the System Manager with variable availability at the level of power that
is not intended for Dorad&#8217;s end customers, in accordance with a production plan whose format is determined by the Israeli Electricity
Authority, and to sell to the System Manager the electricity that it will seek to purchase out of the variable availability provided to
it. The System Manager committed to purchase availability and energy capacity from Dorad in accordance with the Electricity Market Regulations
(Conventional Private Electricity Manufacturer), 2005, for a period of twenty years commencing on the date of commercial operation. In
the event that Dorad does not sell any electricity to private customers, Dorad will be entitled for payments from the System Manager for
all its free availability capacity. It was also determined that in exchange for the sale of energy, the System Manager will pay Dorad
the price at which Dorad offered to sell to the System Manager, but no more than the maximum price set by the Israeli Electricity Authority
in accordance with the standards applicable to Dorad and in accordance with Dorad&#8217;s tariff approval.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with the establishment
of Noga, the new System Manager, Dorad&#8217;s agreement with the IEC was assigned by the IEC to the System Manger during 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Seasonality</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The demand for electricity
by Dorad&#8217;s customers is seasonal and is affected by, among other factors, the climate prevailing in that season. Until December
31, 2022, the months of the year were split into three seasons as follows: the summer season &#8211; the months of July and August; the
winter season &#8211; the months of December, January and February; and intermediate seasons &#8211; (spring and autumn), the months from
March to June and from September to November. There is a higher hourly demand for electricity during the winter and summer seasons, and
the average electricity consumption per hour is higher in these seasons than in the intermediate seasons and is even characterized by
peak demands due to extreme climate conditions of heat or cold. In addition, Dorad&#8217;s revenues are affected by the Taoz Tariff (an
electricity tariff that varies across seasons and across the day in accordance with demand hour clusters), as, on average, the Taoz Tariff
is higher in the summer season than in the intermediate and winter seasons. Commencing January 1, 2023, changes in the Taoz Tariff and
the composition of the summer season became effective. For more information concerning the changes, see &#8220;Material Effects of Government
Regulations on Dorad&#8217;s Operations &#8211; Tariffs&#8221; below.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Changes in the climate have
an effect on electricity consumption of Dorad&#8217;s customers, which is increased and/or more prolonged during periods of heat or cold
that are more extreme than in previous years (in the summer and winter seasons) and could have a material impact on Dorad and its financial
results.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Sources and Availability of Raw Materials
for the Operations of the Dorad Power Plant</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As described above, the Dorad
Power Plant is a dual-fuel plant. However, the cost of running on diesel oil is expensive and the use of diesel oil increases the level
of emissions into the air (compared to gas-based operation). In accordance with applicable regulatory requirements, Dorad maintains a
stock of diesel oil intended for use as backup for operating the plant for 100 hours at full load, in the event of inability to operate
the plant with gas. In accordance with the standards published by the Israeli Electricity Authority, the tariff approval granted to Dorad,
the agreement between Dorad and the IEC and the existing agreements between Dorad and its customers, in the event of a gas shortage (either
due to a lack of supply or the ability to transport the gas, as described above) Dorad will purchase the energy it requires in order to
meet its obligations towards its customers from the IEC and will sell it to its customers at the retail price (that is, without the discount
included in these agreements). During 2023 Dorad did not have a significant diesel oil use.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the Israeli Electricity
Sector Report, published by the Israeli Electricity Authority in September 2023, natural gas is currently being used for the production
of approximately 68% of the electricity produced in Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Agreement with Tamar</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On October 15, 2012, Dorad
entered into the Tamar Agreement with Tamar, which is one of the suppliers of natural gas for the Israeli electricity market. Pursuant
to information received from Dorad, Dorad purchases natural gas from Tamar for purposes of operating the Dorad Power Plant and the main
terms of the Tamar Agreement are as follows:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">a.</td><td style="text-align: justify">Tamar has committed to supply natural gas to Dorad in an aggregate quantity of up to approximately 11.2
billion cubic meters (BCM), or the Total Contract Quantity, in accordance with the conditions set forth in the Tamar Agreement.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">b.</td><td style="text-align: justify">The Tamar Agreement will terminate on the earlier to occur of: (i) sixteen (16) years following the commencement
of delivery of natural gas to the Dorad power plant or (ii) the date on which Dorad will consume the Total Contract Quantity in its entirety.
Each of the parties to the Tamar Agreement has the right to extend the Tamar Agreement until the earlier of: (i) an additional year provided
certain conditions set forth in the Tamar Agreement were met, or (ii) the date upon which Dorad consumes the Total Contract Quantity in
its entirety.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">c.</td><td style="text-align: justify">Dorad has committed to purchase or pay for (&#8220;take or pay&#8221;) a minimum annual quantity of natural
gas in a scope and in accordance with a mechanism set forth in the Tamar Agreement. The Tamar Agreement provides that if Dorad did not
use the minimum quantity of gas as committed, it shall be entitled to consume this quantity every year during the three following years
and this is in addition to the minimum quantity of gas Dorad is committed to.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">d.</td><td style="text-align: justify">The Tamar Agreement grants Dorad the option to reduce the minimum annual quantity so that it will not
exceed 50% of the average annual gas quantity that Dorad will actually consume in the three years preceding the notice of exercise of
the option, subject to adjustments set forth in the Tamar Agreement. The reduction of the minimum annual quantity will be followed by
a reduction of the other contractual quantities set forth in the Tamar Agreement. The option described herein is exercisable during the
period commencing as of the later of: (i) the end of the fifth year after the commencement of delivery of natural gas to Dorad in accordance
with the Tamar Agreement or (ii) January 1, 2020, and ending on the later of: (i) the end of the seventh year after the commencement of
delivery of natural gas to Dorad in accordance with the Tamar Agreement or (ii) December 31, 2022. In the event Dorad exercises this option,
the quantity will be reduced at the end of a one year period from the date of the notice and until the termination of the Tamar Agreement.
This option was exercised by Dorad (see below for additional details).</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify">&#160;</p><div>

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</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">e.</td><td style="text-align: justify">The natural gas price set forth in the Tamar Agreement is linked to the production tariff as determined
from time to time by the Israeli Electricity Authority, which includes a &#8220;final floor price.&#8221; Any delays, disruptions, increases
in the price of natural gas under the agreement, or shortages in the gas supply from Tamar will adversely affect Dorad&#8217;s results
of operations. In addition, as future reductions in the production tariff will not affect the price of natural gas under the agreement
with Tamar, Dorad&#8217;s profitability may be adversely affected.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">f.</td><td style="text-align: justify">Dorad may be required to provide Tamar with guarantees or securities in the amounts and subject to the
conditions set forth in the Tamar Agreement.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">g.</td><td style="text-align: justify">The Tamar Agreement includes additional provisions and undertakings as customary in agreements of this
type such as compensation mechanisms in the event of shortage in supply, the quality of the natural gas, limitation of liability, etc.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a result of the indexation
included in the gas supply agreement, Dorad is exposed to changes in exchange rates of the U.S. dollar against the NIS. To minimize this
exposure Dorad executed forward transactions to purchase U.S. dollars against the NIS.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On April 2, 2019, Dorad entered
into an addendum to the Tamar Agreement according to which the gas quantities specified in the addendum to the Tamar Agreement that Dorad
purchases from Tamar will not be included for the purpose of calculating the quantities of gas at the time of the reduction of the purchases
from Tamar, in accordance with the instructions of the Tamar Agreement and in accordance with the layout instructions for increasing the
quantity of natural gas produced from the Tamar natural gas field and rapid development of natural gas fields Leviathan, Karish and Tanin
and additional fields, dated August 16, 2015.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March 22, 2021, Dorad entered
into an addendum to the Tamar Agreement according to which the parties agreed on the amount of gas that Dorad will purchase from Tamar
commencing January 1, 2022, and Dorad exercised the option set forth in section (d) above, resulting in an update to the amounts and prices
of gas purchased by Dorad from Tamar, which is beneficial to Dorad. This addendum also provides that Dorad will be entitled to compensation
in the amount specified in the addendum, which was received in the third quarter of 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On April 5, 2021, Dorad entered
into an additional gas purchase agreement with Tamar, or the Additional Tamar Agreement, pursuant to which Dorad is entitled to purchase
additional quantities of gas from Tamar during a period of four years ending on April 5, 2025. As part of the Additional Tamar Agreement,
Dorad will receive a grant that depends, among other things, on the amount of gas consumption quantities determined in the Additional
Tamar Agreement. Dorad received 50% of the grant in the first quarter of 2022 and expects to receive the remainder on the date of termination
of the Additional Dorad Agreement pursuant to the conditions set forth therein.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The addendums to the Tamar
Agreement and the Additional Tamar Agreement were subject to certain conditions precedent that were met on July 14, 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>Natural
Gas Purchase Agreement with </i></span><i>Energean</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In October 2017, Dorad executed
an agreement with Energean regarding the acquisition of natural gas, in a cumulative volume of approximately 6 BCM over a period of 14
years, from the Karish and Tanin reserves held by them and whose completion was initially expected to be by the second half of 2021. Based
on the agreement, Dorad will purchase about half of the gas required to operate the Dorad Power Plant and the rest of the demand will
continue to be supplied by Tamar. According to the agreement with Energean, if Dorad does not actually consume the minimum quantity it
has undertaken, it will be forced to consume this quantity. In November 2018, all the suspending conditions included in the agreement
with Energean were fulfilled. During 2020-2022, Energean updated the forecast date for the initial gas flow several times due to the impact
of the Covid-19 crisis on the Energean production facilities. Due to these delays, Dorad continued to purchase gas from Tamar at a higher
price than the price set in the agreement with Energean. In February 2022, Dorad approached Energean demanding that it meet the timeline
set forth in the agreement and compensate Dorad for the delays. Energean began to flow gas to Dorad at the beginning of November 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Agreement with Alon Gat</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 6, 2019, Dorad signed a memorandum of understanding
with Alon Energy Centers LP, or Alon Gat, which currently operates a private power plant for the production of electricity in Kiryat Gat,
Israel, with a capacity of approximately 73 MW. This memorandum provides that Alon Gat will provide Dorad with the full availability of
the aforementioned power plant and will sell the electricity produced at the power plant to Dorad, which will serve as supplier in consideration
for payment for availability and electricity, for an initial term of six years. On November 12, 2019, commercial operation of the Alon
Gat power plant began and the implementation of the memorandum of understanding became effective. The memorandum contained termination
provisions, including in the event of regulatory changes that materially impair the implementation of the understandings between the parties.
On January 8, 2023, Alon Gat informed Dorad of the termination of the agreement, effective March 31, 2023, due to certain regulatory changes
that enabled Alon Gat to terminate the agreement with Dorad, including the change in production tariff and demand hours cluster.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Delivery of Natural Gas</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The natural gas is supplied
through Israel Natural Gas Lines Ltd., currently the sole operator of a natural gas transportation system in Israel. The ability to deliver
natural gas depends on the extent of the capacity of gas that can be transported in the pipeline.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In November 2010, Dorad executed
a standard agreement with Israel Natural Gas Lines Ltd., a governmental company, which was approved by the Israeli Gas Authority, according
to which the Dorad Power Plant was connected to the natural gas pipeline. Dorad paid connection fees in the amount of NIS 47 million and
is obligated to pay Israel Natural Gas Lines Ltd. a fixed monthly payment for the capacity in the pipeline and a variable payment for
gas flowing through the pipeline.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Tamar carried out a project
to add compressors aimed at increasing the amount of gas passing through the transmission pipeline. The agreements between Israel Natural
Gas Lines Ltd. and its customers (including Dorad), include, among other things, the maximum capacity that the customer may purchase.
As of December 31, 2023, the maximum capacity established in the agreement between Israel Natural Gas Lines Ltd. and Dorad is sufficient
for the full production capacity of the Dorad Power Plant. In extreme conditions, there may be a shortage in the supply of natural gas.
However, Dorad estimates that even if such a shortage occurs, for example due to extreme weather conditions, it is expected to last only
a few hours. In Dorad&#8217;s estimation, no material financial impact is expected on Dorad if such a shortage arises.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Material Effects of Government Regulations
on Dorad&#8217;s Operations </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As noted above under &#8220;Material
Effects of Government Regulations on the Israeli PV Plant,&#8221; the regulatory framework applicable to the production of electricity
by the private sector in Israel is provided under the Electricity Law, regulations promulgated thereunder, and other standards, guidelines
and instructions published by the Israeli Electricity Authority and the IEC. In addition, the gas transportation system in Israel is regulated
by the Israeli Gas Authority, and by the regulation and decisions of the Ministry of Energy and the Israeli Gas Authority on these issues.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Licenses</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Israeli Electricity Market
Law provides that certain actions in the electricity market, including generation of electricity and supply of electricity, require a
license. In May 2014, the Israeli Electricity <span style="font-family: Times New Roman, Times, Serif">Authority resolved to grant Dorad
production licenses for a period of twenty years (which can be extended for an additional ten year period under certain conditions) and
a supply license for a period of one year. In August 2014, Dorad filed a request to extend the supply license for an additional period
of nineteen years and the long-term supply license was executed in July 2015. </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In accordance with the terms
of Dorad&#8217;s production licenses, the sale to the System Manager is conducted using the method of available capacity and energy. The
production licenses impose on Dorad an obligation to comply with a minimum level of availability, regularity and efficiency in the operation
of the license, an obligation to carry out inspections of the power plant and maintenance work therein, and an obligation to report to
the Israeli Electricity Authority, including in connection with malfunctions and inspections carried out at the power plant. In accordance
with the terms of the supply license, Dorad may sell electricity to consumers who have a continuous electricity meter installed that stores
consumption data (only). In addition, in accordance with the terms of the supply license, it is required that Dorad&#8217;s equity not
be less than a certain percentage of the normative cost of the power plant (according to the definition of the relevant term therein).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The licenses cannot be transferred,
encumbered or seized, directly or indirectly, and the production licenses also provide that it is not possible to sell or pledge any property
used for the execution of the licenses, all except with the prior approval of the Minister. In addition, the licenses state, among other
things, that the approval of the Minister of Energy is required for the transfer or encumbrance of control of Dorad. In the event that
the transfer of control also includes a change in the terms of the license, the approval of the Israeli Electricity Authority is also
required. In addition, the licenses include restrictions and requirements in connection with transfers of rights, directly or indirectly,
in Dorad.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to the right of hearing
and the rules applicable to it, the Israeli Electricity Authority may, with the approval of the Minister, change the conditions of the
licenses granted to Dorad, add to them or subtract from them, if there have been changes in the suitability of Dorad, in the general environment
of the electricity market (or in the technology relevant to the license, in relation to the production license), or if the changes are
required to ensure competition in the electricity market (in relation to the production license) or the level of services to be provided.
The Israeli Electricity Authority is also entitled to terminate the licenses or suspend them before the end of their term, subject to
the right of the license holder for a hearing, for example in the event of a violation of the terms of the license or non-compliance with
the eligibility conditions for receiving the licenses, all in accordance with the conditions specified in the licenses and according to
the provisions of applicable law. The Israeli Electricity Law provides that in addition to revocation or suspension of a license due to
non-compliance, the Israeli Electricity Authority may also revoke, suspend or modify a license based on other considerations, including
the contribution of the license to the level of services to the public, the benefit of the consumers and the contribution of the license
to the competition in the electricity market. The Israeli Electricity Law further provides that other than due to non-compliance or loss
of eligibility, the revocation, suspension or modification of certain licenses, which licenses of the scope held by Dorad, requires the
approval of the Minister.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a condition for receiving
the licenses, Dorad provided guarantees to ensure compliance with the conditions of the licenses as well as to compensate and indemnify
the State of Israel for damages caused to it as a result of breach of these conditions or as a result of termination, limiting or suspension
of the licenses. In addition, Dorad must provide a guarantee in favor of the System Manager in the amount of 70% of the average monthly
bill payment of its customers in the summer season according to their consumption in the corresponding period of the previous year. In
accordance with the terms of the licenses granted to Dorad, Dorad is not allowed to carry out actions that may cause a reduction in competition
in the electricity market or harm it. These licenses also include provisions regarding the insurance that Dorad must maintain during the
licenses period.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31, 2023, Dorad
is in compliance with the terms of the licenses granted to it.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Tariffs and Payments</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As noted above, the Israeli
Electricity Authority determines the tariffs in the electricity sector, including the Taoz Tariff, which is the tariff for electricity
consumers above a certain size, based on the costs of production, infrastructure, transmission, distribution and system costs, which changes
according to the seasons and according to clusters of demand hours during the day, or the Taoz Tariff. The Taoz Tariff creates a direct
link between the costs of electricity production and its supply at different times and the price paid by the customer. In each season,
three clusters of hours were determined: peak (hours with the highest demand), high (hours with an average demand) and low (hours with
low demand). The price of electricity at peak is the highest, at high is at an intermediate level, and at low is the lowest. These rates
have a material effect on the results of Dorad&#8217;s operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 28, 2022, the Israeli
Electricity Authority issued a decision in which, among other things, a change in the clusters of demand hours was established, according
to the decision the &#8220;high&#8221; cluster was eliminated, peak hours will be shifted in some seasons from noon to evening hours and
the number of months in the summer season will be expanded to 4 months (June &#8211; September instead of July and August). The decision
became effective on January 1, 2023.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Israeli Electricity Authority
determined the method and tariffs for the provision of availability and electricity by private electricity producers to the System Manager
in the event not all of the capacity of such manufacturers was sold directly to customers. The Israeli Electricity Authority&#8217;s decision
provides that the System Manager will pay for the availability even in the event electricity was not actually used by end customers depending
on the amount of electricity made available to the System Manager. This decision further provides that in the event the System Manager
purchases electricity from the private manufacturer, the tariff paid for the electricity will not be higher than the tariff determined
in the tariff approval issued to the private manufacturer.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the purpose of guaranteeing
the tariffs that electricity producers are entitled to receive from the Israeli Electricity Authority, they are granted a &#8220;tariff
approval&#8221; by the Israeli Electricity Authority, which includes, among other things, tariffs arising from the tariff arrangements
in the standards in connection with force majeure and insurance, warranty, replacement fuel and tariffs for the manufacturer in connection
with the purchase of electricity, purchase of availability and energy or the purchase of related services. In September 2010, Dorad received
a tariff approval from the Israeli Electricity Authority that sets forth the tariffs applicable to the Dorad Power Plant throughout the
period of its operation, valid for a period of 20 years from the date of receipt of the production license (i.e., until May 2034), which
is updated according to mechanisms set forth therein and includes, among other things as described above, tariffs for the sale of availability
and energy to the System Manager, and in October 2013, Dorad received a revised tariff approval pursuant to the Tamar Agreement.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 27, 2020, the
Israeli Electricity Authority published a decision regarding &#8220;2021 Annual Update to the Electricity Rate,&#8221; which, among other
things, provided for a decrease of approximately 5.7% in the average production component commencing January 1, 2021 and effective throughout
2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On January 31, 2022, the Israeli
Electricity Authority published a decision regarding &#8220;Electricity Rates for Customers of IEC in 2022&#8221; which provided for an
increase in the average production component of approximately 13.6% commencing from February 1, 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On April 12, 2022, the Israeli
Electricity Authority published a decision, which became effective May 1, 2022, regarding an annual update to the 2022 electricity tariff
pursuant to which, among other things, the production component increased by approximately 9.4% compared to the 2021 tariff.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 28, 2022, the Israeli
Electricity Authority published a decision titled &#8220;Annual Electricity Rate Update 2022,&#8221; which, among other things, provided
for an increase in the average production component of approximately 24.3% compared to the 2021 tariff, applicable from August 1, 2022,
that will remain in effect through the end of 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 26, 2022, the
Israeli Electricity Authority published a decision regarding &#8220;Annual Update of 2023 Electricity Rates for Customers of the IEC&#8221;
which provided for a decrease in the average production component of approximately 0.7% from January 1, 2023 through the end of 2023.
On January 26, 2023, the Israeli Electricity Authority published a decision regarding &#8220;Annual Update of 2023 Electricity Rates for
Customers of the IEC&#8221; which provided for a decrease in the average production component of approximately 1.2% from February 1, 2023
through the end of 2023. On March 27, 2023, the Israeli Electricity Authority published a decision regarding &#8220;Ongoing Update to
Electricity Rates for Customers of IEC,&#8221; which provided for a decrease in the average production component of approximately 1.4%
from April 1, 2023, which was in effect through the end of January 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On January 29, 2024, the Israeli
Electricity Authority published a decision regarding &#8220;Annual Update of 2024 Electricity Rates for Customers of the IEC,&#8221; which
provided for a decrease in the average production component of approximately 1% from February 1, 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In October 2021, the Israeli
Electricity Authority published a decision regarding the dates of payment and invoices, which regulates the payment dates so that all
suppliers in the market will pay the System Manager on one fixed date, followed by all service providers (manufacturers and network providers)
receiving the payment from the System Manager for their services at another fixed date. The purpose of the said resolution was to assist
the System Manager with minimizing the cash flow required for its operations as well as to regulate the conduct of all parties in the
electricity sector with respect to the dates of payments and receivables. In connection with the initial implementation of the aforementioned
decision, Dorad had to advance a payment to the System Manager in the amount of approximately NIS 40 million, after which the continuation
of payments will be made according to the updated payment dates.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Consumption Plans and Deviations</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In August 2019, the Israeli
Electricity Authority published a proposed resolution that is subject to a public hearing concerning an amendment to the standards governing
deviations from consumption plans. These standards regulate the accounting mechanism in the event the actual consumer consumption is different
than the consumption plan submitted by the electricity manufacturers (such as Dorad) and include a mechanism protecting the manufacturers
from random deviations in actual consumption volumes. Based on the Israeli Electricity Authority&#8217;s publication, which includes a
call for public comments (the hearing process), the Israeli Electricity Authority proposed revoking the protections included in the aforementioned
standards, claiming that the manufacturers are misusing the protections and regularly submit plans and forecasts that deviate from the
actual expected consumption, and also seeks to impose financial sanctions on the manufacturers, which may be in material amounts upon
the occurrence of certain deviation events. On January 27, 2020, the Israeli Electricity Authority issued a resolution amending the standards
and imposing financial sanctions in cases of certain extraordinary events that may add up to significant sums. The resolution entered
into effect commencing September 1, 2020. Dorad is preparing to reduce the implications of the resolution and the implementation of the
resolution does not have a material effect on the financial results of Dorad<span style="font-family: Times New Roman, Times, Serif">.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 22, 2020, the
IEC filed a third-party notice against Dorad in connection with a class action submitted against the IEC claiming that the IEC was negligent
in overseeing the private electricity manufacturers thereby damaging the electricity consumers. The claim against the IEC alleges that
the private electricity manufacturers provided false reports in the consumption plans they submitted to the System Manager, based on the
standards set by the Israeli Electricity Authority. On October 31, 2021, a hearing was held on the request to send notices to third parties,
but no decision has yet been given on the request. Dorad and other third parties submitted their responses (and objections) to the class
action and the claimant notified the court that he does not object to the third-party notices. On April 10, 2023, the court decided to
reject the request submitted by the IEC to send the third-party notice to Dorad. On June 11, 2023, the IEC submitted an appeal on the
court&#8217;s decision. The respondents submitted written responses to the appeal and a hearing date is scheduled for May 6, 2024. At
this point, based on the advice of legal counsel, Dorad cannot estimate the outcome of this legal proceeding<span style="font-family: Times New Roman, Times, Serif">.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Permits and Environmental Laws</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Dorad Power Plant is subject
to a variety of Israeli environmental laws and regulations, including limitations concerning noise, emissions of pollutants, handling
hazardous materials, including storage, transport and disposal, electromagnetic field radiation, and water pumping. In the event of non-compliance
with environmental laws, Dorad could be subject to financial and criminal sanctions, denial of permits or licenses, suspension of activity
and/or an increase in Dorad&#8217;s expenses due to damages, to the extent that they are caused as a result of non-compliance with environmental
laws.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dorad is required to obtain
and maintain various licenses and permits from local and municipal authorities for its operations. Dorad holds a business license, a discharge
permit into the sea, a toxic permit and an emission permit according to the Israeli Clean Air Law, 2008.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with Dorad&#8217;s
financing, Dorad&#8217;s shareholders undertook to indemnify Dorad and/or the financing entities in connection with environmental hazards
in the event that Dorad bears any cost or expense or liability, among other events in connection with environmental hazards or pollution
and deviations from the business plan related to seawater absorption. To the extent that indemnification is provided as stated above,
the indemnification amounts will not be considered part of the equity that Dorad&#8217;s shareholders have committed to provide to Dorad
as part of the financing of the project.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Market Model for Private Manufacturers on the
Transmission Grid</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In March 2022, the Israeli
Electricity Authority published its resolution providing for a market model for private manufacturers and renewable energy on the transmission
grid. The purpose of the resolution is to create a uniform set of rules and a possibility for better control of the System Manager over
the loads on the network, especially in view of the massive entry of renewable energies into the market. This resolution preserves the
ability of manufacturers operating under a different regulation, including Dorad, to continue operating in a format of physical loading
(production according to the predicted customer consumption and selling excess electricity to the System Manager), and also allows those
manufacturers to decide, every month, at their discretion, to switch to a central loading format that will entitle them to energy payments
in accordance with the mechanisms established in the resolution and in parallel to purchase the electricity required by their customers
from the System Manager at market price (SMP). This arrangement became effective commencing January 1, 2024. Dorad is examining the impact
of the resolution on its operations and may, at any time and from time to time, elect to switch to the proposed central loading mechanism
in the event it resolves that the change will have a positive impact on its financial results.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Waste-to-Energy (Biogas) Projects</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><img alt="" src="image_003.jpg" style="height: 306px; width: 670px"/></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: left">Plant Title</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Installed/<br/>
 production<br/>
 Capacity</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Location</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Connection<br/>
 to Grid</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Revenue in the <br/>
year ended December 31, <br/>
2022<br/>
 (in&#160;thousands)</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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 year ended<br/>
 December 31, <br/>
2023<br/>
 (in&#160;thousands)</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="vertical-align: top; width: 25%; text-align: left; padding-bottom: 1.5pt">&#8220;Groen Gas Goor&#8221;</td><td style="padding-bottom: 1.5pt; width: 1%">&#160;</td>
    <td style="vertical-align: top; width: 18%; text-align: center; padding-bottom: 1.5pt">3 million Nm3 per year</td><td style="padding-bottom: 1.5pt; width: 1%">&#160;</td>
    <td style="width: 15%; text-align: center; padding-bottom: 1.5pt">Goor, the Netherlands</td><td style="padding-bottom: 1.5pt; width: 1%">&#160;</td>
    <td style="vertical-align: top; width: 15%; text-align: center; padding-bottom: 1.5pt">November 2017</td><td style="padding-bottom: 1.5pt; width: 1%">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">3,207</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; width: 1%">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">4,345</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">&#8220;Groen Gas Oude-Tonge&#8221;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">3.8 million Nm3 per year,</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="text-align: center; padding-bottom: 1.5pt">Oude-Tonge, the Netherlands</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">June 2018</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,100</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,269</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">&#8220;Groen Gas Gelderland&#8221;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt"><span style="font-size: 10pt">7.5 million Nm3 per year<sup>1</sup></span></td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="text-align: center; padding-bottom: 1.5pt">Gelderland, the Netherlands</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">April 2017</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,333</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#8364;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,407</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  </table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><p style="margin-top: 0; margin-bottom: 0"></p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="margin-top: 0; margin-bottom: 0"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left">1.</td><td style="text-align: justify">This plant&#8217;s permit provides for a subsidy in connection
with production of approximately 7.5 million Nm3 per year, however the actual production capacity of the plant is approximately 9.5 million
Nm3 per year.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>The Goor Plant</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>General</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">We
indirectly wholly-own Groen Gas Goor B.V., or Groen Goor, a project company operating an a</span>naerobic digestion <span style="font-family: Times New Roman, Times, Serif">plant,
with a green gas production capacity of approximately 375 Nm3/h, in Goor, the Netherlands, or the Goor Plant and the land on which the
Goor Plant is located. </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Goor Plant commenced operations
in December 2017. The overall capital expenditure in connection with the Goor Plant was approximately &#8364;10.8 million, including bank
financing. We provided approximately &#8364;2.1 million in shareholder&#8217;s loans to Groen Goor. The Goor Plant is currently operated
by Groen Goor, who recruited experienced employees for this purpose. During 2019 we added a centrifuge decanter and a dry silo system
for the Goor Plant. In October 2016, Groen Goor executed offtake agreements for selling its produced gas, electricity, green gas certificates
and green electricity certificates.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 91; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->83<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>The Oude Tonge Plant</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">We
indirectly wholly-own Groen Gas </span>Oude&#8211;Tonge B.V., or Oude Tonge, <span style="font-family: Times New Roman, Times, Serif">which
owns an anaerobic digestion plant, with a green gas production capacity of approximately 475 Nm3/h, in Oude Tonge, the Netherlands, or
the Oude-Tonge Plant. The Oude Tonge Plant commenced operations in June 2018. We provided approximately &#8364;1.7 million in shareholder&#8217;s
loans to Oude Tonge.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Oude Tonge Plant is currently
operated by Oude Tonge, who recruited experienced employees for this purpose and the senior management provides services both to the Oude
Tonge Plant and to the Goor Plant. During 2019, we added a centrifuge decanter for the Oude Tonge Plant. In May 2017, Oude Tonge executed
offtake agreements for selling its produced gas and green gas certificates.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>The Gelderland Plant</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 1, 2020, we acquired
all issued and outstanding shares of Groen Gas Gelderland B.V., or GG Gelderland, through our wholly-owned subsidiary, Ellomay Luxembourg.
We paid &#8364;1.567 million for the shares and the repayment of shareholder loans. An additional shareholder loan of approximately &#8364;5.9
million was granted to GG Gelderland by Ellomay Luxembourg on December 1, 2020. GG Gelderland owns an operating anaerobic digestion plant
in Gelderland, the Netherlands, with a permit that provides for a subsidy in connection with production of approximately 7.5 million Nm3
per year. The actual production capacity of the plant is approximately 9.5 million Nm3 per year.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During 2023, we assessed the
recoverable amount of its Biogas plants in the Netherlands in light of operating losses suffered by these projects in recent years and
lower results than forecasted for 2023. The examination was conducted based on the net consideration (net of expected estimated indemnification)
included in a binding offer received for the sale of the Biogas plants. The examination concluded that the fair value (net of transaction
costs) of each of the plants is higher than the carrying value of such plant and therefore there is no need for an impairment provision.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Waste-to-Energy Technologies</i></b>	</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The process of energy recovery
from non-recyclable waste is often referred to as waste-to-energy or energy-from-waste. The waste-to-energy market includes various treatment
processes and technologies used to generate a usable form of energy while reducing the volume of waste, including combustion, gasification,
pyrolization, anaerobic digestion and landfill gas recovery. The resulting energy can be in the form of electricity, gas, heating and/or
cooling, or conversion of the waste into a fuel for future use.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Gasification in the waste-to-energy
market is the process of converting organic carbonaceous materials into carbon monoxide, hydrogen and carbon dioxide (CO<sub>2</sub>)
by reacting the material at high temperatures (&gt;700 &#176;C), without combustion, with a controlled amount of oxygen and/or steam. This
process produces a gas mixture called synthetic gas or syngas or producer gas and is itself a fuel. The organic materials used in the
gasification process are a variety of biomass and waste-derived feedstocks, including wood pellets and chips and waste wood.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Anaerobic digestion is a biological
process that produces a gas (also known as biogas) principally composed of methane (CH4) and carbon dioxide (CO<sub>2</sub>). These gases
are produced from organic waste such as livestock manure and food processing waste and from agro-residues. Depending on the type of feedstock
used and the system design, biogas is typically 55%-75% pure methane. The biogas is emitted during the digestion process of the substrates
by specific combinations of bacteria. As there is a relatively wide range of feedstock mix that can be used in the process, the plants
in the Netherlands are designed to allow flexibility that is expected to reduce dependency on certain feedstock mix or the feedstock supplier.
Biogas is used to produce green gas, or bio-methane, with properties close to natural gas that is injected into the natural gas grid.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The anaerobic digestion process
leaves an organic residue, the digestate. The digestate can be used as a fertilizer and soil improver and the WtE plant is required to
find solutions for the proper disposal of the digestate. The ability to dispose of digestate is subject to the relevant regulation in
the target countries with respect to the amounts and timing of disposal of digestate as a fertilizer in such country. In the event restrictions
and regulation does not permit disposal in a certain country, the WtE plant is required to dispose of the digestate in more distant locations
or to store the digestate, which increases the costs of the disposal of digestate.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Benefits of Waste-to-Energy </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Waste-to-energy generates
clean, reliable energy from a renewable fuel source, thus expected to reduce dependency on &#8220;traditional&#8221; energy production
methods, such as fossil fuels, oil and other similar raw materials that are less friendly to the environment. The use of waste assists
in the on-going management of waste in a manner that is more environmentally-friendly than other waste management solutions, such as landfilling.
We believe that by processing waste in waste-to-energy facilities, greenhouse gas emissions and the risk of contamination of ground water
will be reduced.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Sources and Availability of Raw Materials for
the Operations of the WtE Plants</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">As
noted above, the </span>anaerobic digestion process requires continuous input of <span style="font-family: Times New Roman, Times, Serif">raw
materials such as: manure, glycerin, mix grain and corn, all of which are not freely available (as is the case with wind, solar and hydro
energies). </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The success of a WtE plant
depends on its ability to procure and maintain sufficient levels of the waste applicable and suitable to the WtE technology the plant
uses, to meet a certain of range of energy (gas, electricity or heat) production levels. Both Groen Goor and Oude Tonge initially executed
long term feedstock agreements with feedstock suppliers. These agreements were terminated due to disagreements with the suppliers. To
ensure continuous supply of raw materials, both in terms of the quantity and the quality and composition of the raw materials, our WtE
plants started working with a large number of waste suppliers, such as farmers, food manufacturers and other specialized waste suppliers
in order to continuously monitor the proposed sales and try to locate the most efficient and beneficial offers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>The Netherlands Waste-to-Energy Market and Regulation
</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; background-color: white"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; background-color: white; text-indent: 0.5in"><i>Dutch
Climate Goals</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; background-color: white"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">According to EU law, the production
rate of energy from renewable sources for the Netherlands by the year 2030 must be 39%. In addition, the Dutch government&#8217;s goal
is to have at least 16% renewable energy by 2023 and an almost fully sustainable energy supply in 2050.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In July 2019, the national
Climate Act (&#8220;<i>Klimaatwet</i>&#8221;) was adopted. The Climate Act contains several national climate goals. As a result of the
European Climate Law, the CO<sub>2</sub> emission reduction in the Climate Act targets were amended in July 2023 to 55% by 2030 and climate-neutral
by 2050, aiming for negative emissions after 2050. In addition, pursuant to the Coalition Agreement (<i>&#8220;Coalitieakkoord"</i>)
of December 2021, the Dutch government is <i>aiming</i> for a CO<sub>2</sub> reduction of 60% by 2030, 70% by 2035 and 80% by 2040, compared
to 1990 levels. Furthermore, the Dutch government mentions investments in research and innovation of climate neutral technology and emphasizes
the importance of a sustainable energy supply.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Climate Act does not contain
any direct obligations for citizens and businesses; it provides the national government with a framework to establish further legislation
in order to reach the national climate goals and renewable energy goals. In this regard the Climate Act requires the Dutch government
to draft a so-called National Energy and Climate Plan (NECP). The Climate Plan covers a period of ten years, is adjusted every five years
based on actual insights and contains the most important decisions and measures in the field of climate policy and energy saving management
for the next five years. The first NECP (&#8220;<i>Integraal Nationaal Energie en Klimaatplan 2021-2030</i>&#8221;) was presented on November
1, 2019 and mainly refers to the headlines and various goals set &#8211; in broad outline &#8211; in the aforementioned Climate Act. It
also provides an overview of the current and upcoming Dutch legislation in the field of climate policy. In June 2022, the Dutch government
presented the draft NECP (<i>&#8220;Ontwerp Beleidsprogramma Klimaat en Energie&#8221;</i>)<i>. </i>This program complements the Climate
Plan and elaborates on the climate policy from the Coalition Agreement. In December 2023, in connection with the RED III Decree, the European
Commission issued recommendations under the European Climate Law to the Netherlands on their submitted draft NECP. The recommendations
reflected that, based on projections, the contribution of the Netherlands to (amongst other) renewable energy, energy efficiency and reduction
of greenhouse gas emissions is significantly below the EU target. These recommendations have to be taken into account in the final NECP,
which is due by June 30, 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Another mechanism introduced
in the Climate Act is the Climate and Energy Outlook (&#8220;<i>Klimaaten Energieverkenning&#8221;</i>), which is regarded as one of the
accountability instruments of the Dutch climate and energy policy. Based on the Climate and Energy Outlook published in 2023, the Dutch
greenhouse gas emissions are expected to decrease by 46%-57% in 2030 compared to 1992. The Climate and Energy Outlook mentions that the
main reason for the delay in reaching the 55% reduction target is the need for more rapid implementation of existing plans and formulation
of additional policies. In addition, parts of the abovementioned NECP are not yet sufficiently detailed and several policy programs, such
as the REPowerEU, are still being negotiated by the European Commission. The Climate and Energy Outlook is accompanied with a Climate
Memorandum (<i>&#8220;Klimaatnota&#8221;</i>). The 2023 Climate Memorandum contains, amongst others, an updated climate and energy legislative
and policy program regarding emission reduction, energy infrastructure, energy efficiency, the implementation of EU legislation, etc.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In order to have a fully sustainable
energy supply or circular economy in 2050, the Dutch government established the National Circular Economy Program 2023-2030 (<i>&#8220;Nationaal
Programma Circulaire Economie 2023-2030&#8221;</i>) in February 2023. The intermediate target for 2030 is 50% less use of raw materials
compared to 2016 levels, but with the reservation that a final decision on the intermediate target will be made in 2024. The National
Circular Economy Program 2023-2030 introduces four general measures: reducing raw material usage, substituting raw materials (by, for
example bio-based materials), extending product lifetime and high-grade processing, which focuses on recycling (raw) materials. For the
most impactful product groups, within the five supply chains with the most harmful environmental impact, concrete targets have been formulated
and specific policy has been developed. This is, for instance, the case for companies producing/manufacturing wind farms, solar PV systems
and climate control systems. The other categories are consumer goods, plastics, construction and biomass &amp; foodstuffs (which latter
category fall under the transition agenda for circular agriculture). The National Circular Economy Program 2023-2030 sums up several measures
of government intervention (mostly of voluntary nature) to reach the targets, such as pricing measures (for instance levies), regulatory
measures and stimulating measures (e.g., subsidies), encouraging companies to take possible and/or necessary measures in order to reach
the targets set out in the Program.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Dutch government also
introduced a policy program concerning &#8220;green gas&#8221; (biomethane) in December 2022 (&#8220;<i>Programma Groen Gas</i>&#8221;).
Green gas is gas from renewable energy sources, such as biomethane. Through this program, the government aims for a significant scale-up
of the production of green gas in the Netherlands, particularly within the chemical industry sector. The program entails (amongst others)
the introduction of targets and regulations for a so-called blending obligation regarding green gas and for &#8220;gasification&#8221;
(<i>vergassing</i>) of biogenic residual streams. The Dutch Minister of Economic Affairs and Climate published draft legislation in July
2023 in this regard.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The legislation regarding
the blending obligation is expected to introduce an administrative obligation for energy suppliers of gas to provide a certain amount
of green gas to the end users concerned (all part of ETS2: urban environment, agriculture and any industry not regulated by the ETS1)
as part of the total gas supply. Compliance with this obligation can (exclusively) be proven by the existing &#8216;green gas certificates&#8217;,
so-called Guarantees of Origin (<i>Garanties van Oorsprong</i>, GvO&#8217;s), which can be traded through the VertiCer register (the organization
responsible for issuing and managing the Guarantees of Origin). The GvOs are valid for a year after receiving them. The blending obligation
will therefore also introduce tradable green gas units (&#8220;<i>groengaseenheden</i>&#8221;, GGE), issued originally by the Dutch Emission
Authority (<i>Nederlandse Emissieautoriteit</i>, Nea). The GGEs can be traded on the market between producers and suppliers (also between
themselves) and do not have a determined validity period.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">By imposing the obligation
on the gas suppliers, the government hopes to create a sufficiently high market price, thereby stimulating new (necessary) investments
in the production capacity of green gas (such as the manufacturing of production installations, but also cooperation within the chain).
The blending obligation does not follow directly from European regulations, but will be incorporated in Dutch law, in the Environmental
Protection Act (which already contains several obligations regarding renewable energy). The obligation is however in line with EU ambitions
and policies, such as the ambition in the REPowerEU-plan to produce 35 bcm of green gas (biomethane) in 2030.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A consultation round was open
until September 2023. The results of the consultations and further developments are currently reviewed and processed in order to establish
the definite proposals for further legislation. In February 2024, the Dutch Minister of Economic Affairs and Climate informed Parliament
that the entry-into-force of the blending obligation will be postponed to January 2026.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to the blending
obligation, the Dutch government aims to increase the use of non-biogenic gas streams for gasification (<i>vergassing</i>), in particular
for waste streams that are unsuitable for recycling. In this regard, the government opened a subsidy scheme in mid-February 2024 for &#8220;demonstration
projects&#8221; regarding installations (partially) meant for gasification of biogenic or mixed (with non-biogenic) residual streams into
renewable energy carriers (such as green gas and biofuels). The subsidy scheme is open until August 29, 2024 and has a total possible
budget of &#8364;30 million per demonstration project.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Dutch Ministry of Finance
and the Dutch Ministry of Economic Affairs and Climate are currently exploring whether new climate legislation or other measures can stimulate
the contribution of financial companies to the climate transition. The Dutch government has therefore opened a consultation round for
the draft version of the Act on Climate Measures Financial Sector (&#8220;<i>Consultatie klimaatmaatregelen financi&#235;le sector</i>&#8221;),
aiming to capture all the possible advantages and disadvantages of new legislation, also with respect to other possible (legal and non-legal)
measures, European developments, the possible impact of the legislation for the financial sector on financing Dutch businesses and on
the international competitiveness of the Netherlands and its businesses. The consultation round was open until February 15, 2024. As the
Dutch Cabinet that executed the Coalition Agreement is expected to be replaced during the coming months, it is more difficult to predict
if and to what extent the current targets and established (national) policies regarding climate and energy goals will be continued, however
the EU climate and energy directives are binding on the Netherlands therefore provisions and policies implementing EU climate and energy
legislation are likely to remain in effect.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Permits </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of January 1, 2024, various
regulations on environment and spatial planning are implemented in the Dutch Environmental and Planning Act (&#8220;<i>Omgevingswet</i>&#8221;)
and underlying legislation. This includes the former Dutch Environmental Permitting Act (&#8220;<i>Wet algemene bepalingen omgevingsrecht</i>&#8221;),
the Dutch Water Act (&#8220;<i>Waterwet</i>&#8221;), the Dutch Spatial Planning Act (&#8220;<i>Wet ruimtelijke ordening</i>&#8221;), the
Activities Decree on Environmental Management (&#8220;<i>Activiteitenbesluit</i>&#8221;) and several parts of the Dutch Environmental
Protection Act (&#8220;<i>Wet milieubeheer</i>&#8221;).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The legislator of the Environmental
and Planning Act has stated that the Act has a policy neutral character and the Environmental and Planning Act and underlying regulations
are not materially different than the prior regulation. One difference is that under the new legal system, it is not the operator of a
certain facility/business but the performer of any environmentally impactful activity that has to comply with the applicable regulations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In practice, permits obtained
under former legislation are and will stay valid. Any permit applications that have been submitted before the Dutch Environment and Planning
Act entered into force, are assessed in accordance with the former legislation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under former legislation,
a permit is required to operate a waste treatment plant in the Netherlands for its (now-called) environmentally impactful activities.
In addition to this permit, a permit might be required for discharging waste (water) into sewage systems or surface water as well as permits
for activities regulated under the local zoning plan (&#8220;<i>omgevingsplan</i>&#8221;) or local ordinances (&#8220;<i>Algemene Plaatselijke
Verordening</i>&#8221;). The need for these permits depends on the (physical) scale of the waste treatment plant and its impact on the
nearby environment. A permit is, in principal, issued without a time limit, but the competent authorities are allowed to include provisions
regarding limitations or conditions under which the activities performed by the waste treatment plant need to be carried out. To ensure
compliance, the authorities may withdraw a permit in case of significant violations of restrictions and/or applicable environmental regulations.
Moreover, changing circumstances, as a consequence of new operational activities on-site, new developments nearby or new (EU) legislation,
may require the permit to be revised.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Furthermore, the operation
of a waste treatment plant must be in line with the designated use in the applicable zoning plan as established by the municipality. In
case the plant/operation is not in line with the provisions in the zoning plan, either the zoning plan has to be adapted or a permit has
to be obtained under the aforementioned Environmental Planning Act (thereby allowing deviation from the applicable designated use). New
zoning plans may amend or prohibit the designated use that allows the operation of an existing plant.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the operation of a waste
treatment plant in the Netherlands, a permit under the Dutch Environment and Planning Act is required as well for any environmentally
impactful activities that might negatively affect designated Natura 2000-areas (&#8220;<i>Natura 2000-gebieden</i>&#8221;), in particular
by causing deposition of nitrogen. Furthermore, as of July 1, 2021, the Dutch Nitrogen and Nature Improvement Act (&#8220;<i>Wet stikstofreductie
en natuurverbetering</i>&#8221;) establishes provisions targeting a more structural solution in regard to the (both ecological and political)
nitrogen issue in the Netherlands due to the annulment of the so-called &#8216;Integrated Approach to Nitrogen&#8217; (&#8220;<i>Programma
Aanpak Stikstof</i>&#8221;) by the highest Dutch Administrative Court in May 2019. This approach, which provided exemptions to the permit
obligation and entailed the idea that through nature restoration measures and source-directed measures, a general autonomous reduction
of nitrogen depositions/emissions could be created (only) in favor of (more) economic developments, was ruled to be unlawful in regard
to EU law. As a result, permits regarding nitrogen deposition are only issued if the nitrogen deposition is practically nil. Hence, in
general it is rather difficult to obtain a permit under the Dutch Nature Protection Act, for both the construction and the operation of
a (modified/new) waste treatment plant. Under the Dutch Nitrogen and Nature Improvement Act, the (outgoing) Dutch government published
the Program for Nitrogen Reduction 2022-2035. The main goal of this Program is to determine which measures are necessary to achieve the
reduction of nitrogen deposition on nitrogen-sensitive Natura 2000-areas (40% in 2025, 50% in 2030 and 74% in 2035). Furthermore, the
Act obliges the Dutch government to legalize nitrogen reports and calculations, based on the abovementioned Integrated Approach to Nitrogen,
via a &#8216;legalization program&#8217;. However, due to the same issues mentioned above, this program is still under negotiation and
not in place yet.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Energy saving/supply</i></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Netherlands waste treatment
sector is subject to strict regulatory obligations, requiring that approximately 10% of the market is processed. As a result, facilities
that produce waste (such as the industry sector farms) are expected and encouraged to seek more appropriate solutions for waste management.
As part of the Climate Act, the (outgoing) Dutch government has intensified the enforcement of the legal obligation for operators of facilities
to take energy saving measures under the Decree on Environmental Activities (&#8220;<i>Besluit activiteiten leefomgeving</i>&#8221;) (and
earlier under the Activities Decree). In short, the obligations require operators of facilities that consume &gt; 50,000 kWh of electricity
and/or 25,000 m&#179; of natural gas per year to implement all (statutory designated) possible energy saving measures with a payback period
of five (5) years or less. In order to support this effort, the (outgoing) Dutch government has drafted and updated in April 2020 a so
called &#8216;recognized measures&#8217; list, intended to simplify compliance with the energy saving obligation. This list is available
as an annex to the Environmental Activities Decree. Since 2023, these facilities are obliged to also take energy saving measures whenever
the measures do not save energy but do reduce CO<sub>2</sub> emissions. These energy saving measures include generating renewable energy
and switching to an energy carrier with lower CO<sub>2</sub> emissions. In order to monitor these obligations, the operator of the plant
has an obligation to inform and report to the competent authorities which energy saving measures are taken/implemented on site. This information
report was required to be submitted to the State Department for Entrepreneurship by December 1, 2023 at the latest and, subsequently,
this has to be repeated every 4 years. This information duty does not apply if a permit for the operation of a plant already stipulates
certain energy saving obligations or when it has already an audit obligation under the European Energy Efficiency Directive (EED).</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In January 2022, the amended
Chapter 9.7 of the Dutch Environmental Protection Act (&#8220;<i>Wet milieubeheer</i>&#8221;) entered into force (along with the underlying
amended Dutch Energy Transport Decree (&#8220;<i>Besluit energie vervoer</i>&#8221;) and Dutch Energy Transport Regulation (&#8220;<i>Regeling
energie Vervoer</i>&#8221;)). These amendments are part of the implementation of the national Climate Act and the RED II. In July 2021
the European Commission proposed an amendment of the RED II, as part of the package to deliver on the European Green Deal. In short, the
regulation in Chapter 9.7 of the Dutch Environmental Protection Act (&#8220;<i>Wet milieubeheer</i>&#8221;) holds the obligation for a
fuel supplier to meet a certain reduction of non-sustainable fuels, by for example compensating their oil supply with sustainable biofuels
(or electricity produced from renewable sources). In May 2023, the new Renewable Energy Directive (RED III) entered into force, which
contains stricter obligations to become climate neutral in 2050. In September 2023, the (outgoing) Dutch government published draft legislation
regarding the implementation of RED III and further draft legislation, such as additional amendments regarding the Dutch Environmental
Protection Act and the Dutch Energy Transport Decree and enactment of the amendments is expected in Q2-Q4 of 2024. All the adjustments
will mainly, in brief, focus on the encouragement of renewable hydrogen, both in the industry as the transport sector. All (upcoming)
draft legislation still needs to be discussed and approved by the Dutch Parliament and Senate.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To accelerate the energy transition
(from fossil to sustainable energy) in the Netherlands, the Dutch Electricity Act (&#8220;<i>Elektriciteitswet</i>&#8221;) obliges network
operators to provide priority to facilities that produce renewable energy in the connection to the electricity grid. This Act also sets
rules and requirements regarding the connection point&#8217;s allocation, the method of connection and the distribution of &#8216;connection
costs&#8217; between network operator and the plant&#8217;s operator. Due to a considerable growth of renewable energy developments (e.g.,
the rise of wind and solar power projects onshore), congestion on the electricity grid is an issue of increasing size and legal complexity
in several parts of the Netherlands. In January 2021, the revised version of the Dutch investment plan and quality of electricity and
gas Decree (&#8220;<i>Besluit investeringsplan en kwaliteit elektriciteit en gas</i>&#8221;) entered into force. This Decree determines
among others that the reserve capacity of the high-voltage grid will be dedicated to energy generated by renewable energy sources. The
(outgoing) Dutch government has submitted a draft for the so-called Dutch Energy Act (&#8220;<i>Energiewet</i>&#8221;), which aims to
substitute the current Dutch Electricity Act (&#8220;<i>Elektriciteitswet</i>&#8221;) and the Dutch Gas Act (&#8220;<i>Gaswet</i>&#8221;).
The Dutch Energy Act offers a modern and updated regulatory framework that supports and stimulates the energy transition in the Netherlands
and contributes to the goal of a clean energy supply that is safe, reliable, affordable and takes into account spatial planning. The Dutch
Energy Act will retain the current ordering of the gas and electricity market, but at the same time contains adjustments to support the
transition to a climate neutral energy supply. It also implements the European &#8216;Clean Energy Package&#8217; (being the latest update
in the European energy policy framework) as well.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Subsidies/funds</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The current subsidy scheme
for renewable energy in the Netherlands is called SDE++ (&#8220;<i>Stimulering Duurzame Energieproductie en Klimaattransitie</i>&#8221;
or Stimulating Renewable Energy Production and Climate Transition). The SDE++ program stimulates the further rollout of renewable energy
and focuses on stimulating CO<sub>2 </sub>emissions reduction techniques, by compensating the so-called unprofitable top margin of these
techniques. The SDE++ program provides for various categories of biomass technologies for which subsidy can be requested, for example
heat generation and gas extraction from biomass. Under the SDE++ program, subsidies are granted on the basis of the quantity of renewable
energy that has been produced or CO<sub>2</sub> emissions that have been prevented. The subsidy is equal to the difference between the
cost price of reduction of CO<sub>2</sub> emissions or renewable energy, and the profits that have been/will be made (defined as the &#8216;unprofitable
top margin&#8217;). Subsidy applications under the SDE++ program are handled on the basis of increasing maximum subsidy need per phase.
Consequently, projects with a lower subsidy need shall be given priority when granting subsidies. The subsidy is granted for a period
of 12 to 15 years. Throughout the term part of the subsidy is provided via an advance payment based on the expected market prices established
by November 1 of the previous year. After the end of the calendar year, from April onwards, an adjustment of the advance payment based
on the actual market prices and production is made.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In November 2022, the (outgoing)
Dutch government notified the Parliament that the advance payments were considerably too high and that, currently, the Dutch government
should not pay subsidies for as many categories and projects, thereby also taking into account the high energy prices (and high profits).
The waste-to-energy plants may keep these profits and will, during the subsidy term, receive subsidy again when energy prices drop (which
may create the unprofitable top margin again). The (outgoing) Dutch government furthermore stated that it wants to prevent subsidized
projects from realizing excess profits over the entire duration of the subsidized project as the aim of the SDE++ is to compensate the
unprofitable top margin and not to facilitate excess profits. In that regard the (outgoing) Dutch government noted that it is investigating
the possibility of adapting the SDE ++ program, for example into a system where subsidies are only paid after any previous excess profits
are taken into account. The outcome of this investigation is not known yet, but as no exclusions to these adaptions are contemplated,
it is expected that these changes will have an impact on waste-to-energy plants.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In most cases the SDE++ program
allows &#8216;banking&#8217;. This means that in case less sustainable energy is produced than predicted, one can make up for this difference
in the following years (forward banking). When, on the other hand, the production exceeds the subsidized annual production, one can counterbalance
this in the following years (backward banking), though with a maximum of 25% of the subsidized annual energy production, except for the
wind category.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The SDE++ program is determined
annually. The round of application for the SDE++ program in 2023 closed on October 6. The total requested amount of subsidy was &#8364;8.3
billion. The majority of the budget has been requested for renewable heat. The applications are currently being assessed and the final
results of the 2023 SDE++ program are not presented yet.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The SDE++ program will continue
in 2024 and 2025 and will be open for subsidy applications from September 102024 until October 7, 2024. The budget amounts to &#8364;11.5
billion. Some modifications in the subsidy allocation system have been made since 2023, in order to stimulate certain techniques that
are currently insufficiently addressed but essentially to the energy transition. A budget of &#8364;1 billion is reserved per specific
field and when the budget within the relevant field is not fully used (because too few applications were made), the remaining budget will
be transferred to another field. The determined fields are: (a) low-temperature heat, (b) high-temperature heat and (c) molecules (including
green gas, advanced renewable fuels and hydrogen production). The category &#8216;air-to-water heat pump&#8217; was added to the SDE++
program. Finally, some categories will not fall under the SDE++ program in 2023, such as green gas from residual waste and hydrogen from
bio-based raw materials, because these techniques are not yet deemed profitable by the (outgoing) Dutch government.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the abovementioned Coalition
Agreement, the (outgoing) Dutch government announced the introduction of a new climate and transition fund of &#8364;35 billion for the
upcoming ten years, in addition to the SDE++ program. This fund has taken shape in the Temporary Climate Fund Act (&#8220;<i>Tijdelijke
wet Klimaatfonds&#8221;</i>), which was approved by the Dutch parliament in December 2023 and published in February 2024. The Act is yet
to enter into force and the date is currently unknown. The objectives of the Climate Fund are: (a) greenhouse gas-neutral energy supply
by 2050; (b) encouraging the implementation of energy efficiency techniques and promoting the use of renewable energy and other greenhouse
gas-reducing techniques and measures in the industry; (c) stimulating the implementation of energy efficiency techniques and renewable
energy in the built environment. Measures in all economic sectors, including the circular economy, are eligible for funding, provided
that these measures meet the abovementioned objectives. The Climate Fund is a budgetary fund and intended to reserve available resources
that can be used for specific purposes in the future. Commencing 2023, a multiannual climate funding program (&#8220;<i>Meerjarenprogramma
Klimaatfonds&#8221;</i>) will be published on an annual basis, which provides information on achieving the financial obligations and purposes
of the Climate Fund.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">One of the expected concrete
spending targets of the Climate Fund is the National Investment Scheme for Climate Projects Industry (&#8220;<i>Nationale Investeringsregeling
Klimaatprojecten Industrie</i>&#8221;, in short: &#8220;<i>NIKI&#8221;). </i>The NIKI subsidy scheme is intended to appy in addition to
the SDE++ program, and will subsidize larger-scale sustainable investments relating to green chemistry and electrification. The NIKI subsidy
scheme is currently expected to open during 2024.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Taxes</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In January 2021, the Industry
CO<sub>2</sub> Tax (&#8220;<i>Wet CO<sub>2</sub>-heffing industrie&#8221;) </i>entered into force. The rationale behind this tax is that
the big polluters, in general the larger industrial facilities such as industry falling under the Industrial Emissions Directive and European
Emissions Trading System (&#8220;<i>EU ETS</i>&#8221;) and waste incineration plants, have to pay their fair share in reducing CO<sub>2</sub>
emissions in the Netherlands. Furthermore, the Industry CO<sub>2</sub> Tax aims at ensuring that the reduction target for industry as
agreed in the Climate Agreement is achieved, while the level playing field with neighboring countries is affected as little as possible.
This tax is connected with the EU ETS system as provided for in the European Directive 2003/87/EC; if emission prices within that system
rise, the Industry CO<sub>2</sub> Tax falls and vice versa. Facilities are granted an exemption for part of the CO<sub>2</sub> emissions,
on which they do not have to pay any tax (dispensation rights). The exemption is determined by comparing the plant&#8217;s CO<sub>2</sub>
emissions with the most efficient facilities in the same industry in Europe. The more efficient the plant produces, the less Industry
CO<sub>2</sub> Tax it is required to pay on balance, because that tax is levied on the emitted CO<sub>2</sub> that is in excess of the
dispensation rights. The levy will increase in the coming years to encourage facilities to produce more efficiently, from &#8364;30 per
ton CO<sub>2 </sub>in 2021 up to &#8364;125 in 2030 (though in 2023 the levy has not increased). At the same time, the dispensation rights
will be decreasing throughout the years. In addition, since January 1, 2023, a second tariff has been in place due to the Minimum CO<sub>2</sub>-price
Industry Act (&#8220;<i>Wet minimum CO2-prijs industrie&#8221;</i>). This tariff ensures that a minimum CO<sub>2</sub> price applies as
well to emissions for which a company has dispensation rights under the Industry CO<sub>2</sub> Tax. The tariff for 2024 is &#8364;74.17
per ton CO<sub>2, </sub>and will gradually increase to &#8364;128 in 2030.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Furthermore, in March 2022
the Dutch Minimum CO<sub>2</sub>-price Electricity Generation Act (<i>&#8220;Wet minimum CO<sub>2</sub>-prijs elektriciteitsopwekking&#8221;</i>)
entered into force. The minimum price covers greenhouse gas emissions from electricity generation at companies covered by the EU ETS.
More specifically, this Act introduces an annually modified CO<sub>2</sub> tax, because the tax is based on the difference between the
annual national CO<sub>2 </sub>price and the EU ETS price. The tax is based on the number of tons of carbon dioxide released into the
air in accordance with the plant&#8217;s electricity emission report. This means that, for instance, no tax will be levied on companies
that generate electricity with windmills or solar panels. This tax can impact the biogas facilities, if they fall under the EU ETS system
and emit CO<sub>2</sub> while generating electricity.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dutch tax laws also provide
for an Energy Investment Allowance (&#8220;<i>EIA</i>&#8221;), a tax advantage for companies in the Netherlands that invest in energy-efficient
technology allowing a deduction of 40% (in 2024) of the investment costs from the corporate income, on top of the usual depreciation.
The right to the EIA is declared with the tax return, provided the investment is timely reported to the Dutch Enterprise Agency (&#8220;<i>RVO</i>&#8221;).
The net EIA benefit is about 11% of the investment costs. The EIA can be claimed for all assets included in the annual Energy List (as
published by <i>RVO</i>). The 2024 Energy List was published in January 2024. The EIA can also be claimed for customized investments that
result in substantial energy savings, as far as these investments meet the saving standards of the EIA. The EIA budget used to be around
&#8364;150 million, but is increased up to &#8364;249 million for 2023. It has been agreed that the EIA program will primarily be focused
on energy efficiency investments. A renewable energy project that is eligible for an SDE++ subsidy is not eligible for the EIA tax advantage
(the latter only relates to new projects and projects that have already obtained rights to tax advantages).</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In January 2023, the (outgoing)
Dutch government published a draft for the &#8216;Temporary Inframarginal Electricity Tax Act&#8217; (<i>&#8220;Tijdelijke wet Inframarginale
Elektriciteitsheffing&#8221;</i>). This Act implements the recently established EU regulation containing &#8216;an emergency intervention
to address high energy prices.&#8217; In short, the Act introduces a retroactive levy for market revenues in the period December 2022
&#8211; June 2023, insofar the market revenues rise above an exempt amount per megawatts. The tax/levy is levied on the sum of the taxable
market revenues per calendar month. A producer is obliged to keep records of its generated electricity per month in the abovementioned
period. The market revenues can follow from three types of revenues, namely: (i) income from electricity sales agreements regarding the
Dutch electricity markets, (ii) negative income from agreements to purchase electricity on this market, to comply with selling obligations
under the agreements referred to under (i), and (iii) negative and positive income from contracts such as power purchase agreements. The
levy will be imposed on electricity producers in the Netherlands with a production installation of an installed capacity of 1 MW or more
(e.g., +/- 3.000 solar panels or more). The producer will receive an invitation from the Tax Administration (<i>Belastingdienst</i>) to
file a tax return. If the tax period is not extended by the European Union, the latest date of filing the tax return is June 30, 2024.
The draft Act was approved by the Dutch Parliament on February 15, 2024 and is yet to be discussed and voted on by the Dutch Senate.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">There
are generally two types of electricity on the Dutch electricity market: (i) grey electricity, which is less environmentally friendly because
it is made from sources such as gas and coal, and (ii) green electricity, which is made from renewable energy sources, such as sun, wind
water and certain forms of biomass. Both types of electricity eventually end up on the same energy grid, but only electricity with a &#8216;green
power certificate&#8217; (in the Netherlands also known as a Guarantee of Origin) is treated as sustainable. In the Netherlands, the organization
CertiQ is responsible for issuing and managing these certificates. A producer can register an electricity production installation, for
example a waste-to-energy </span>plant<span style="font-family: Times New Roman, Times, Serif">, with CertiQ &#8211; and is obliged to
register the </span>plant <span style="font-family: Times New Roman, Times, Serif">if a subsidy for SDE ++ has been issued by the government.
One certificate covers 1 MWh and is valid for one year after the month in which the energy has been generated. A green certificate can
also be obtained if the </span>plant <span style="font-family: Times New Roman, Times, Serif">generates sustainable heat. If an installation
generates both heat and electricity, it must be registered twice. If electricity is generated with sun, water or wind, the grid operator
sends the production data to CertiQ. If electricity is generated with a biomass installation or the installation generates heat, simultaneously
with the registration a measurement protocol, which must be approved by a recognized measurement company, is submitted to CertiQ. </span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
green certificates are booked by CertiQ on the account of a trader, which has been chosen by the producer. This trader does not have to
be the (contracted) energy supplier of the </span>plant<span style="font-family: Times New Roman, Times, Serif">. The issuance of green
power certificates happens across Europe and the trader can sell the certificates on the European market through the platform of the Association
of Issuing Bodies (&#8220;AIB&#8221;). The Netherlands may only import and export Guarantees of Origin made by an AIB member, which country
must also belong to the European Economic Area. This means that, for example, exporting certificates to the United Kingdom is not allowed.
Green certificates give consumers and companies more insight into what exactly takes place in energy generation and therefore they can
choose more consciously what type of energy they want to consume. The increase in demand for energy and the government polices to offset
the GHG emission is also major factor for the growth of the green certificates market. For more information see &#8220;Dutch Climate Goals&#8221;
above. </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Pumped Storage Project in the Manara Cliff
in Israel</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The current ownership structure
of Ellomay PS is as follows: (i) 75% is owned by Ellomay Water Plants Holdings (2014) Ltd., or Ellomay Water, which we wholly-own, and
(ii) 25% is owned by Sheva Mizrakot Ltd., an Israeli private company, or Sheva Mizrakot. 66.667% of Sheva Mizrakot is owned by Ampa Investments
Ltd., or Ampa, and the remaining 33.333% are owned by Ellomay Water. Accordingly, we hold (through our direct holdings in Ellomay PS and
through our holdings in Sheva Mizrakot) 83.333% of the Manara PSP, and the remaining 16.667% of the Manara PSP are held by Ampa through
its holdings in Sheva Mizrakot.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Manara PSP is projected
to cost approximately NIS 1.64 billion (excluding future indexation) (approximately &#8364;410 million). This amount includes a reevaluation
of the project CAPEX according to actual basket of indices applicable to such CAPEX for the period since financial close and until December
2023 when an updated financial model was submitted. On March 7, 2021, the Manara PSP received the approval of the Israeli Electricity
Authority that the conditions for Financial Close under the applicable regulations were met. In April 2021, a notice to commence the
construction works (NTC) was issued to Electra Infrastructures Ltd., the EPC contractor of the Manara PSP, and construction of the Manara
PSP commenced. The construction period of the Manara PSP was initially expected to be 62.5 months from such date. Due to the &#8220;Iron
Swords&#8221; war situation, which also affects the northern area of Israel in proximity to the Lebanon border, works on the Manara PSP
site were suspended in early October 2023. Efforts are currently being focused on accelerating design activities to mitigate potential
delays, while manufacturing of the main equipment, including electro-mechanical equipment, is proceeding as planned. The State of Israel
fully protects the project in situations that may be considered force majeure, such as the current war. This protection is provided under
the framework of the tariff regulation (financing support standards). The project is expected to receive full remedies for schedule or
budget overruns caused by such situations. Originally, the project was planned to become commercially operational in the first half of
2027. However, due to the ongoing war, the operation date will be delayed. Currently, it is impossible to estimate when construction
will end and when commercial operation will commence. As a result of the delays due to the war, the Israeli Electricity Authority has
approved a 10-month extension to the project schedule, and the Company anticipates receiving additional extensions as needed, considering
the ongoing situation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Manara PSP Project Finance</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 11, 2021, we announced
the financial closing of the project finance of the Manara PSP, or the Manara PSP Project Finance. The Manara PSP Project Finance is provided
by a consortium of Israeli banks and institutional investors, arranged and led by Mizrahi-Tefahot Bank Ltd. As of the date of the financial
closing, the Manara PSP Project Finance was in the aggregate amount of NIS 1.27 billion (excluding future indexation) (approximately &#8364;338
million based on the euro/NIS exchange rate as of December 31, 2022). This amount is subject to reevaluation to an actual basket of indices
similar to the CAPEX as described above.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For more information see &#8220;Item
5.B: Operating and Financial Review and Prospects &#8211; Liquidity and Capital Resources&#8221; and Notes 6 and 11.A to our annual financial
statements included elsewhere in this Report.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Manara PSP EPC Agreement</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 14, 2021, we also
announced the execution of the EPC agreement for the construction of the Manara PSP, or the Manara PSP EPC Agreement, under a &#8220;turnkey&#8221;
contract with Electra Infrastructure Ltd., or Electra Infrastructure, one of Israel&#8217;s largest construction companies. The aggregate
consideration payable to Electra Infrastructure under the Manara PSP EPC Agreement is expected to be approximately NIS 1.13 billion (excluding
future indexation) (approximately &#8364;301 million based on the exchange rate as at December 31, 2022). The majority of this amount is
linked to the actual change in the Israel Residential Construction Index. In accordance with the Manara PSP EPC Agreement Voith Hydro,
the world&#8217;s leading manufacturer of hydroelectric turbines, or Voith Hydro, was nominated as the subcontractor that will be providing
the electro-mechanical equipment to the Manara PSP.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Manara PSP O&amp;M Agreement</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In parallel to the execution
of the Manara PSP EPC Agreement, Ellomay PS also executed an O&amp;M agreement, or the Manara PSP O&amp;M Agreement, with Mekorot Israel
National Water Co., the Israeli national water company, or Mekorot (which is fully owned by the Israeli Government), Voith Hydro and Verbund
Hydro, one of the largest hydroelectric companies in Europe with extensive expertise in the operation of hydroelectric power plants, or,
together, the Manara PSP O&amp;M Contractors. The Manara PSP O&amp;M Agreement provides that the Manara PSP O&amp;M Contractors will be
involved in the construction process through a mobilization period and that O&amp;M services will be provided for a twenty year period,
during which Mekorot, Voith Hydro and Verbund will provide O&amp;M services for the initial three years, with Mekorot providing O&amp;M
services exclusively for the remaining 17 years.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Background</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The development of the Manara
PSP began in 2007, and the Manara PSP, which was under different ownership at the time, was granted a conditional license in 2009 for
a capacity of 200 MW, or the First Conditional License. The First Conditional License expired in 2011 and thereafter the previous owner
applied for a new conditional license, but before the application was approved, the Israeli Electricity Authority rendered a decision,
in 2012, prohibiting cross ownership in pumped storage projects (at the time, the then-owner of Manara PSP was also a shareholder in the
Gilboa PSP), thus forcing the sale of Manara PSP to a new owner.&#160; &#160;&#160;&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In January 2014, we entered
into an agreement with Ortam Sahar Engineering Ltd., or Ortam, an Israeli publicly traded company, pursuant to which we acquired (a) Ortam&#8217;s
holdings (24.75%) in Agira Sheuva Electra, L.P., or the Partnership, an Israeli limited partnership that had been promoting the Manara
PSP; and (b) Ortam&#8217;s holdings: (i) in Chashgal Elyon Ltd., or the GP, an Israeli private company, which is the general partner in
the Partnership (holding 25% in the Partnership), and (ii) in the engineering, procurement and construction contractor of the aforementioned
project (50%). On May 20, 2014, our indirectly wholly-owned subsidiary, Ellomay Manara (2014) Ltd., or Ellomay Manara, entered into an
agreement, or the Electra Agreement, with Electra Ltd., or Electra, an Israeli publicly traded company. Pursuant to the Electra Agreement,
Ellomay Manara acquired Electra&#8217;s holdings (24.75%) in the Partnership, as well as Electra&#8217;s holdings in the GP (25%).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, we, Ellomay Manara
and Electra agreed that: (i) on the closing date of the transactions contemplated under the Electra Agreement, Ellomay Manara shall transfer
to subsidiaries of Electra all of its then holdings in the engineering, procurement and construction contractor of the aforementioned
project, or the EPC, (50%), which will be acquired at closing by us from another partner in the Partnership pursuant to a conditional
agreement we entered into, resulting in Electra&#8217;s subsidiaries holding 100% of the EPC; and (ii) each of Electra (through its subsidiaries)
and us (together with Ellomay Manara) was granted an eighteen-month put option and call option, respectively, with respect to the entire
holdings in the EPC.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to the aforementioned
agreements, in January 2014 we entered into an agreement with Galilee Development Cooperative Ltd., an Israeli cooperative, or the Cooperative,
pursuant to which, subject to the fulfillment of certain conditions, we shall acquire the Cooperative&#8217;s holdings (24.75%) in the
Partnership as well as its holdings in: (i) the GP (25%), and (ii) the EPC (50%).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In November 2014, Ellomay
Manara consummated the acquisition of 75% of the limited partnership rights in the Partnership, as well as 75% of the holdings in the
GP, from Electra, Ortam and the Cooperative. The remaining 25% of the holdings in the Partnership and in the GP are held by Sheva Mizrakot.
We and Ellomay Manara did not pay any consideration upon the acquisition. On the same date, Ellomay Manara acquired Ortam&#8217;s holdings
(50%) in the EPC and, as set forth above, immediately transferred such holdings to a subsidiary of Electra, which, following such transfer
now holds 100% of the EPC. According to the various agreements executed in connection with the Manara PSP, we and Ellomay Manara are liable,
jointly and severally, to all the monetary obligations set forth in said agreements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In February 2023, the trustees
of the entity that sold the rights in the Manara PSP to us filed a petition with the Israeli court requesting the following: (1) payment
of NIS 1.5 million (approximately &#8364;0.374 million based on the Euro/NIS exchange rate at that time) in connection with a claimed debt
of a third party, and (2) payment of linkage and interest differences in an amount of approximately NIS 0.672 million (approximately &#8364;0.168
million based on the Euro/NIS exchange rate at that time) with respect to an amount that was already paid to the seller and to Electra,
claiming that the payment was delayed due to disagreements between the seller and Electra and missing approvals. Based on the parties&#8217;
agreement, a mediation process is ongoing. In light of the preliminary stage of the proceedings and based on the advice of our legal counsel,
it is too early to estimate the outcome of the mediation process and the legal proceedings.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In December 2018, we executed
a settlement agreement, or the A.R.Z. Settlement Agreement, with A.R.Z. Electricity Ltd., or A.R.Z Electricity, an Israeli private company
that at the time held 33.33% of Sheva Mizrakot Ltd. The A.R.Z. Settlement Agreement resolves a claim made by A.R.Z. Electricity and Mr.
Raanan Aloni against us and our affiliates, in connection with the Manara PSP, and other disputes between such parties concerning the
Manara PSP. In connection with the Manara PSP Project Finance and based on the A.R.Z. Settlement Agreement, A.R.Z. Electricity was required
to provide its indirect share of equity investment and financing to the Manara PSP. Due to the failure to provide the required funds,
Ellomay Water Plants Holdings (2014) Ltd., the Company&#8217;s wholly-owned subsidiary that holds 75% of Ellomay PS, overtook A.R.Z. Electricity&#8217;s
holdings in Sheva Mizrakot (33%) and, as a result, the Company&#8217;s indirect holdings in the Manara PSP increased from 75% to 83.333%.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31, 2023, we
paid an amount of approximately NIS 24 million (approximately &#8364;6 million) on account of the consideration upon the acquisition and
will be required to pay certain parties additional amounts (including interest) in certain installments, which in the aggregate are not
expected to exceed an amount of NIS 6.4 million (approximately &#8364;1.6 million).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Tariff Approval</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 31, 2020, Ellomay
PS received the tariff approval for the Manara PSP from the Israeli Electricity Authority that regulates the tariffs and formulas for
purchasing energy from a pumped storage manufacturer connected to the transmission network for a period of 20 years beginning on the date
of receipt of the permanent production license. The tariff approval became effective following the financial closing of the Manara PSP
in February 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 11, 2021, the
Manara PSP complied with the conditions precedent under the Manara PSP Conditional License following the financial closing of the Manara
PSP Project Finance and the execution of the Manara PSP EPC and O&amp;M Agreements. For more information see &#8220;Item 4.A: History
and Development of Ellomay; Recent Developments.&#8221; The construction process of the Manara PSP is expected to be highly complex and
includes various engineering and other challenges, includes planning and conducting of a comprehensive investigation to characterize the
variety of soils and rocks at the construction sites. In accordance with the infrastructure characteristics and the seismic risks that
exist on site, stability calculations need to be performed on the basis of which instructions are given for the planning and execution
of the reservoirs.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Pumped Storage Power Plants</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pumped storage is a form of
renewable energy based on hydropower. A pumped storage power plant is capable of generating electric energy on demand and is one of the
most veteran and widely applied technologies used worldwide for energy storage. The technology has been in use for more than 100 years,
providing over 100,000 MW around the world.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The technology allows storing
available energy for later use. Pumped storage plants store electricity during low demand periods and release it back to the grid during
peak demand periods, thereby utilizing the gap in production costs to stabilize the grid&#8217;s voltage and regulation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The plant is a hydro-storage
system comprised of upper and lower water reservoirs, connected by an underground water pressure pipe: during low demand &#8211; pumping
water from the lower reservoir for energy storage, and during peak demand &#8211; releasing water from the upper reservoir for energy
production. The technology utilizes excess electricity production capacity during low demand hours to increase supply during peak demand
hours, thus providing available reserves to be used by the grid dispatcher during peak and low demand periods.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pumped storage also allows
optimal grid stability functionality by providing a combination of low latency, high power and high energy response (~90 sec).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>The need for electricity storage solutions
in the Israeli electricity market</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The purpose of pumped storage
systems is to stabilize the grid&#8217;s voltage and to create optimization in the management of the electricity grid. The demand for
electricity, in the Israeli market as well as in other electricity markets, is influenced by many factors, including the weather, time
of day and day of the week, and the rise in the standard of living in Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In order to meet the growing
electricity needs in Israel, and being able to provide electricity to consumers, the IEC constantly over-generates energy. The over-generation
of energy is the result of using low flexibility energy sources (coal and gas). The demand curve is generally characterized by peak demand,
usually in summer afternoons or winter evenings, and low demand during night times. During low demand periods, the majority of energy
is produced by base-load plants at relatively cheap production costs, while at peak demand times, more expensive energy sources are added.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In recent years, the use of
renewable, volatile energy sources has increased, thus increasing the grid&#8217;s volatility and the need for storing energy during low-demand
hours as a way to create demand when renewable energy is produced and releasing it during peak-consumer demand hours.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>The Manara PSP</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Manara Cliff is in Northern
Israel, just south of the city of Kiryat Shmona. According to the construction plans of the Manara PSP, the plant will deploy water reservoirs
built on agricultural land. The upper water reservoir will be located near Kibbutz Manara and the lower water reservoir will be based
on an existing reservoir near Kiryat Shmona belonging to a local water cooperative.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Ellomay PS entered into land
lease option agreements with the site holders, in order to secure land use rights for the duration of the construction phase and the commercial
operation of the Manara PSP, and a water supply agreement with the Galil Elyon Water Association, in order to secure water supply for
the project for the duration of the commercial operation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Ellomay PS also holds detailed
geological and hydrological surveys, and an environmental impact assessment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Competition</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">According to the current applicable
regulation, the Manara PSP cannot enter into electricity sale agreements with private customers, and will therefor provide 100% of its
available capacity and energy to the System Manager (Noga, formerly a business unit of IEC that was spun off from IEC according to government
decision), pursuant to a power purchase agreement. The System Manager is obligated to purchase availability and energy from any power
plant whose commercial operation was approved by the applicable regulation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Material Effects of Government Regulations
on the Manara PSP </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Manara PSP is subject
to regulations applicable to energy producers and power plants in general, including the Electricity Market Regulations, and to pumped
storage producers in particular. For more information concerning the Israeli electricity market and regulation see &#8220;The Israeli
Electricity Market; Competition&#8221; and &#8220;Material Effects of Government Regulations on Dorad&#8217;s Operations&#8221; under
&#8220;Ellomay Luzon Energy and the Dorad Power Plant&#8221; above.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Manara PSP was announced
by the Israeli Government as a national infrastructure project. National Infrastructure Plan 41A (which updated National Infrastructure
Plan 41), which establishes the planning principles for the Manara PSP.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Licenses</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Manara PSP was initially
granted a conditional license by the Israeli Electricity Authority for the construction of a pumped storage power plant with a capacity
of 340 MW, or the Prior Conditional License. On December 4, 2017, the Israeli Electricity Authority announced the reduction of the capacity
stipulated in the Prior Conditional License from 340 MW to 156 MW. The reduced capacity was based on the remaining portion of the quota
for pumped storage projects in Israel as determined by the Israeli Government and implemented by the Israeli Electricity Authority, which
is currently 800 MW, after deducting the capacity already allocated to two projects that were at the time in more advanced stages than
the Manara PSP. On February 26, 2020, Ellomay PS retracted the Prior Conditional License issued to it, which was due to expire on February
28, 2020 because Ellomay PS did not reach financial closing by such date as was required under the milestones included in the Prior Conditional
License. On the same date, Ellomay PS filed an application for a new similar conditional license for a pumped storage plant with a capacity
of 156 MW.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 17, 2020, the Israeli
Minister of Energy executed the Manara PSP Conditional License, following the retraction of the previous conditional license, which permits
Ellomay PS to construct the Manara PSP. The Manara PSP Conditional License includes several conditions precedent to the entitlement of
Ellomay PS to receive an electricity production license. The Manara PSP Conditional License is valid for a period of seventy-two (72)
months commencing from the date of its approval by the Minister of Energy, subject to compliance by Ellomay PS with the milestones set
forth therein and subject to the other provisions set forth therein (including achieving financial closing, the provision of guarantees
and the construction of the pumped storage hydro power plant). As noted above, on February 11, 2021, Ellomay PS complied with the project
finance milestone under the Manara PSP Conditional License. According to applicable law, the 72 months validity period may be extended
for additional periods of 12 months each if required and subject to the Minister&#8217;s approval at such time. Such extension may result
in forfeiture of the license guarantee which value currently amounts to approximately NIS 4.1 million (approximately &#8364;1 million).
The guarantee amount is linked to the USD and is reduced over time upon fulfillment of certain interim project milestones.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The licenses issued by the
Israeli Electricity Authority include several milestones, which the license holder must meet in a timely manner in order to be eligible
for a permanent license to produce electricity. In the event the license holder does not meet the milestones within certain timeframes
set out under applicable electricity regulations, the Israeli Electricity Authority has the authority to revoke the license. &#160;&#160;&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Israeli Water Authority
granted to Ellomay PS a water plant license, and approved the water rationing needed for the preliminary filling of the reservoirs prior
to commencement of commercial operation, and for the continued operation of the power plant. The water plant license was granted to Ellomay
PS in August 2015 and was since renewed from time to time.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Tariffs </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In November 2009, the Israeli
Electricity Authority published the regulatory framework for pumped storage power plants, or the PS Regulatory Framework, which has since
been amended a few times. The PS Regulatory Framework establishes the following principles:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">a.</td><td style="text-align: justify">Purchase of availability from a licensed private producer;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">b.</td><td style="text-align: justify">Payment for availability, start-ups and dynamic benefits;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">c.</td><td style="text-align: justify">The plant is required to be under the full control of the
system manager (currently the IEC);</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">d.</td><td style="text-align: justify">Capital and operational tariff for availability &#8211; including
exchange rate linkage, indexes and interests;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">e.</td><td style="text-align: justify">During the first twenty years of its operation, the plant
shall be entitled to capital and operational tariff set out in the tariff approval; and</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">f.</td><td style="text-align: justify">Bonuses and fines mechanism, based on standard technical operational
parameters.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 31, 2020, the Manara PSP received a tariff approval from the Israeli Electricity Authority that regulates the tariffs and
formulas for purchasing energy from a pumped storage manufacturer connected to the transmission network for a period of 20 years beginning
on the date of receipt of the permanent production license. The tariff approval became effective following the financial closing of the
Manara PSP in February 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Material Effects of Government Regulations
&#8211; General</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Investment Company Act of 1940 </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Regulation under the Investment
Company Act governs almost every aspect of a registered investment company&#8217;s operations and can be very onerous. The Investment
Company Act, among other things, limits an investment company&#8217;s capital structure, borrowing practices and transactions between
an investment company and its affiliates, and restricts the issuance of traditional options, warrants and incentive compensation arrangements,
imposes requirements concerning the composition of an investment company&#8217;s board of directors and requires shareholder approval
of certain policy changes. In addition, contracts made in violation of the Investment Company Act are void.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">An investment company organized
outside of the United States is not permitted to register under the Investment Company Act without an order from the SEC permitting it
to register and, prior to being permitted to register, it is not permitted to publicly offer or promote its securities in the United States.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not believe that
our current asset structure results in our being deemed to be an &#8220;investment company.&#8221; Specifically, we do not believe
that our holdings in our PV Plants or our WtE plants would be considered &#8220;investment securities,&#8221; as we control our PV
Plants (other than the Talasol PV Plant) and our WtE plants via wholly-owned subsidiaries. In addition, despite minority holder
protective rights granted to the minority shareholders of the Talasol <span style="font-family: Times New Roman, Times, Serif">PV
Plant</span> and the Manara PSP, including several rights which effectively require the unanimous consent of all shareholders, we
believe that our interests in the Talasol <span style="font-family: Times New Roman, Times, Serif">PV Plant</span> and the Manara
PSP do not constitute &#8220;investment securities&#8221; given, among other things, our majority shareholder and board membership
status. The current fair value of our holdings in Ellomay Luzon Energy and other relevant assets do not in our judgment exceed 40%
of our aggregate assets, excluding our assets held in cash and cash equivalents. If we were deemed to be an &#8220;investment
company,&#8221; we would not be permitted to register under the Investment Company Act without an order from the SEC permitting us
to register because we are incorporated outside of the United States and, prior to being permitted to register, we would not be
permitted to publicly offer or promote our securities in the United States. Even if we were permitted to register, it would subject
us to additional commitments and regulatory compliance. Investments in cash and cash equivalents or in other assets that are not
deemed to be &#8220;investment securities&#8221; might not be as favorable to us as other investments we might make if we were not
potentially subject to regulation under the Investment Company Act. We seek to conduct our operations, including by way of investing
our cash and cash equivalents, to the extent possible, so as not to become subject to regulation under the Investment Company Act.
In addition, because we are actively engaged in exploring and considering strategic investments and business opportunities, and in
fact have entered the Italian and Spanish photovoltaic power plants markets through controlling investments, we do not believe that
we are currently engaged in &#8220;investment company&#8221; activities or business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Shell Company Status</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Following the consummation
of sale of our previous wide format printers business in 2008 and until we commenced our renewable energy business in 2010, we ceased
conducting any operating activity and substantially all of our assets consisted of cash and cash equivalents. Accordingly, we may have
been deemed to be a &#8220;shell company,&#8221; defined by Rule 12b-2 promulgated under the Securities Exchange Act of 1934 during such
period as (1) a company that has no or nominal operations; and (2) either: (i) no or nominal assets; (ii) assets consisting solely of
cash and cash equivalents; or (iii) assets consisting of any amount of cash and cash equivalents and nominal other assets.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our characterization as a
former &#8220;Shell Company&#8221; subjects us to various restrictions and requirements under the U.S. Securities Laws. For example, pursuant
to the provisions of Rule 144(i) promulgated under the Securities Exchange Act of 1934, shares issued by us at the time we were deemed
to be a &#8220;shell company&#8221; and thereafter can only be resold pursuant to the general provisions of Rule 144 subject to the additional
conditions in Rule 144(i), including that we have filed all reports and other materials required to be filed by Section 13 or 15(d) of
the Exchange Act, as applicable, during the twelve month period preceding the use of Rule 144 for resale of such shares. This continuing
restriction may limit our ability to, among other things, raise capital via the private placement of our shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>C. Organizational
Structure</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Spanish PV Plants are
held by: (i) Rodr&#237;guez I Parque Solar, S.L., (ii) Rodr&#237;guez II Parque Solar, S.L., (iii) Seguisolar S.L., (iv) Ellomay Spain
S.L. and (v) Ellomay Solar S.L.U., all wholly-owned by Ellomay Luxembourg. The Talasol <span style="font-family: Times New Roman, Times, Serif">PV
Plant</span> is held by <span style="font-family: Times New Roman, Times, Serif">Talasol Solar S.L.U, of which 51% is owned by Ellomay
Luxembourg</span>.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Israeli PV Plant is held
by Ellomay Talmei Yosef Ltd. (formerly Sun Team Talmei Yosef Ltd.), which is wholly-owned by Ellomay Sun Team Ltd. (formerly Sun Team
Ltd.), which, in turn, is wholly-owned by Ellomay Holdings Talmei Yosef Ltd. (formerly Sun Team Group Ltd.), which is wholly-owned by
us. For more information concerning an agreement to sell our holdings in our Israeli PV Plant see above under &#8220;Recent Developments.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We hold our Ellomay Luzon
Energy shares through Ellomay Clean Energy Limited Partnership, an Israeli limited partnership whose general partner is Ellomay Clean
Energy Ltd., a company incorporated under the laws of the State of Israel and wholly-owned by us.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our WtE plants located in
the Netherlands are held by: (i) <span style="font-family: Times New Roman, Times, Serif">Groen Gas Goor B.V., (ii) Groen Gas </span>Oude&#8211;Tonge
B.V. and (iii) Groen Gas Gelderland B.V., all wholly-owned by Ellomay Luxembourg.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We hold the rights in connection
with the Manara PSP through our wholly-owned subsidiary, Ellomay Water Plants Holdings (2014) Ltd., which indirectly owns 75% of the rights
in Ellomay PS and through our 33.333% holdings in Sheva Mizrakot, which owns 25% of Ellomay PS.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our rights in connection with
PV Plants that have finished construction in Italy are held by: (i) <span style="font-family: Times New Roman, Times, Serif">Ellomay Solar
Italy One SRL (</span><span style="background-color: white">expected to be connected to the grid during the second quarter of 2024) </span><span style="font-family: Times New Roman, Times, Serif">and
(ii) Ellomay Solar Italy Two SRL (connected to the grid during in February 2024), all wholly-owned by </span>Ellomay Luxembourg<span style="font-family: Times New Roman, Times, Serif">.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our rights in connection with
PV Plants that have reached &#8220;Ready to Build&#8221; status in Italy are held by: (i) <span style="font-family: Times New Roman, Times, Serif">Ellomay
Solar Italy Four SRL, (ii) Ellomay Solar Italy Five SRL, (iii) Ellomay Solar Italy Seven SRL, (iv) Ellomay Solar Italy Nine SRL and (v)
Ellomay Solar Italy Ten SRL, all wholly-owned by </span>Ellomay Luxembourg<span style="font-family: Times New Roman, Times, Serif">. </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">Our
rights in connection with PV Plants </span>that have reached &#8220;Ready to Build&#8221; status in the USA are held by our indirect wholly-owned
subsidiaries: (i) Fairfield Solar Project, LLC, (ii) Malakoff Solar I LLC, (iii) Malakoff Solar II, LLC, (iv) Mexia Solar I, LLC, (v)
Mexia Solar II, LLC and (vi) Talco Solar, LLC.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>D. Property,
Plants and Equipment</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our office space of approximately
360 square meters is located in Tel Aviv, Israel. This lease currently expires in February 2025. We sub-lease a small part of our office
space to a company controlled by Mr. Shlomo Nehama, at a price per square meter based on the price that we pay under our leases. This
sub-lease agreement was approved by our Board of Directors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our PV Plants are located
in Spain and Israel. Pursuant to the building right agreements executed by the majority of our subsidiaries that hold our PV Plants, our
subsidiaries own the PV Plants and received the right to maintain the PV Plants on the land on which they are located, or the Lands. The
ownership of the&#160;Lands under the leasing agreements remains with the relevant owners of the Lands who are the grantors of the building
rights under the respective building right agreements. The following table provides information with respect to the Lands of our operational&#160;PV
Plants:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 18%; text-align: left"><b>PV Plant</b></td>
    <td style="text-align: center; width: 1%; vertical-align: bottom">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 18%; text-align: center"><b>Size of Property</b></td>
    <td style="text-align: center; width: 1%; vertical-align: bottom">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 31%; text-align: center"><b>Location</b></td>
    <td style="text-align: center; width: 1%; vertical-align: bottom">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 30%; text-align: center"><b>Owners of the PV Plants/Lands</b></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: left">&#8220;Rinconada II&#8221;</td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: center">81,103 m&#178;</td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: justify">Municipality of C&#243;rdoba, Andalusia, Spain </td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: justify">PV Plant owned by Ellomay Spain S.L. Land held by owners and leased to Ellomay Spain S.L.</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="vertical-align: top; text-align: left">&#8220;Rodr&#237;guez I&#8221;</td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: center">65,600 m<sup>2</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: justify">Lorca Municipality, Murcia Region, Spain </td>
    <td>&#160;</td>
    <td style="text-align: left; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0in">PV Plant owned by Rodr&#237;guez I Parque Solar,
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&#160;</p></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: left">&#8220;Rodr&#237;guez II&#8221;</td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: center">50,300 m<sup>2</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: justify">Lorca Municipality, Murcia Region, Spain </td>
    <td>&#160;</td>
    <td style="text-align: left; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0in">PV Plant owned by Rodr&#237;guez II Parque Solar,
    S.L. Lease Agreement executed between the owners and Rodr&#237;guez II Parque Solar, S.L.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="vertical-align: top; text-align: left">&#8220;Fuente Librilla&#8221;</td>
    <td>&#160;</td>
    <td style="text-align: center; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">64,000 m<sup>2</sup></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p></td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: justify">Fuente Librilla Municipality, Murcia Region, Spain </td>
    <td>&#160;</td>
    <td style="text-align: left; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0in">PV Plant owned by Seguisolar S.L. Lease Agreement
    executed between owners and Seguisolar S.L.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: left">&#8220;Talasol&#8221; </td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: center">6,040,000 m<sup>2</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: justify">Talavan (C&#225;ceres) &#8211; Extremadura Region, Spain</td>
    <td>&#160;</td>
    <td style="text-align: justify; vertical-align: top">PV Plant owned by Talasol. Lease Agreements executed with the Talavan Municipality, which owns the land</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="vertical-align: top; text-align: left">&#8220;Talmei Yosef&#8221;</td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: center">164,000 m<sup>2</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: left">Talmei Yosef, Israel</td>
    <td>&#160;</td>
    <td style="text-align: left; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0in">Lease Agreement executed with the entity that leased
    the property from the ILA.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&#160;</p></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: left">&#8220;Ellomay Solar&#8221; </td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: center">706,400 m<sup>2</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: justify">Talavan (C&#225;ceres) &#8211; Extremadura Region, Spain</td>
    <td>&#160;</td>
    <td style="text-align: justify; vertical-align: top">PV Plant owned by Ellomay Solar S.L.U. Lease Agreement executed between owners and Ellomay Solar S.L.U.</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="vertical-align: top; text-align: left">&#8220;Ellomay Solar Two&#8221;</td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: center"><span style="font-size: 10pt">96,319 m<sup>2</sup></span></td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: left">Lazio Region, Italy</td>
    <td>&#160;</td>
    <td style="text-align: justify; vertical-align: top">PV Plant owned by Ellomay Solar Italy Two SRL. Lease Agreement executed between owners and Ellomay Solar Italy Two SRL.</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Italian subsidiaries that
are developing and constructing PV projects executed long-term lease agreements in connection with the land on which the PV plants developed
and constructed by such subsidiaries will be located. For further information concerning the lease agreements of our PV Plants and of
the Italian subsidiaries, see the summaries of the lease agreements included as Exhibits 4.9, 4.10, 4.11, 4.12, 4.13, 4.14, 4.16 and 4.21
under &#8220;Item 19: Exhibits.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The land on which our WtE
plants are located is owned by the relevant project companies. The land on which the Manara PSP is being constructed is leased from various
Israeli cooperatives. Manara PS also entered into a development agreement with the ILA in connection with the land. A summary of the lease
agreement and development agreement is included as Exhibit 4.19 under &#8220;Item 19: Exhibits.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our subsidiaries in the United
States that are developing and constructing PV projects executed long-term lease agreements in connection with the land on which the PV
plants is or will be constructed by such subsidiaries. The lease agreements are included as Exhibits 4.22 and 4.23 under &#8220;Item 19:
Exhibits.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For more information concerning
the use of the properties in connection with the PV Plants, the WtE plants and the Manara PSP, see &#8220;Item 4.A: History and Development
of Ellomay&#8221; and &#8220;Item 4.B: Business Overview&#8221; above.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><div><a id="aa_009"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 4A:
Unresolved Staff Comments</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="aa_010"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 5:
Operating and Financial Review and Prospects</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>The following discussion
and analysis is based on and should be read in conjunction with our consolidated financial statements, including the related notes, and
the other financial information included in this Report. The following discussion contains forward-looking statements that reflect our
current plans, estimates and beliefs and involve risks and uncertainties. Our actual results may differ materially from those discussed
in the forward-looking statements. Factors that could cause or contribute to such differences include those discussed below and elsewhere
in this Report. For discussion related to cash flows for the year ended December 31, 2021, refer to &#8220;Item 5. Operating and Financial
Review and Prospects&#8221; in our Annual Report on Form 20-F for the year ended December 31, 2022, which was filed with the Securities
and Exchange Commission on April 7, 2023.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>General</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are involved in the initiation,
development, construction and production of renewable and clean energy projects in Europe, USA and Israel. We indirectly own eight PV
plants that are operating and connected to their respective national grids as follows: (i) five PV plants in Spain with an aggregate installed
capacity of approximately 35.9 MWp, (ii) 51% of Talasol, which owns a PV plant with an installed capacity of 300 MW in the municipality
of Talav&#225;n, C&#225;ceres, Spain, (iii) one PV plant in Israel with an installed capacity of approximately 9 MWp and (iv) Ellomay
Solar Italy Two SRL, that owns a PV plant with installed capacity of 4.95 MW in the Lazio Region, Italy. In addition, we indirectly own:
(i) 9.375% of Dorad, which owns an approximate 850MWp dual-fuel operated power plant in the vicinity of Ashkelon, Israel, (ii) Ellomay
Solar Italy One SRL that owns a PV plant with installed capacity of 14.8 MW in the Lazio Region, Italy, which is ready for connection
to the grid, (iii) Ellomay Solar Italy Four SRL (15.06 MW), Ellomay Solar Italy Five SRL (87.2 MW), Ellomay Solar Italy Seven SRL (54.77
MW), Ellomay Solar Italy Nine SRL (8 MW) and Ellomay Solar Italy Ten SRL (18 MW) that are developing PV projects in the Lazio Region,
Italy that have reached &#8220;ready to build&#8221; status, (iv) Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland
B.V., project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately
3 million, 3.8 million and 9.5 million Nm3 per year, respectively, (v) 83.333% of Ellomay Pumped Storage (2014) Ltd., which is constructing
the Manara PSP, a 156 MW pumped storage hydro power plant In the Manara Cliff, (vi) Fairfield Solar Project, LLC, Malakoff Solar I LLC
and Malakoff Solar II, LLC that are constructing PV projects with installed capacity of 13.44 MW, 6.96 MW and 6.96 MW, respectively, in
the Dallas Metropolitan area, Texas, and (v) Mexia Solar I, LLC, Mexia Solar II, LLC and Talco Solar, LLC that are developing PV projects
with installed capacity of 5.6 MW, 5.6 MW and 10.3 MW, respectively, in the Dallas Metropolitan area, Texas, and have reached &#8220;ready
to build&#8221; status. We also initiate and develop additional PV projects in Italy, USA, Spain and Israel. See &#8220;Item 4.A: History
and Development of Ellomay&#8221; and &#8220;Item 4.B: Business Overview&#8221; for more information.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We generate revenue from the
sale of electricity produced by our renewable energy plants and from the sale of green certificates to third parties in Spain and the
Netherlands (of which prices significantly increased during 2022, mainly due to supporting regulation attempting to reduce the impact
of carbon emissions). During the year ended December 31, 2023, we generated revenues from our PV operations in Spain and Israel and from
our WtE operations in the Netherlands. During the year ended December 31, 2023, we had several projects under construction, including
PV projects in Italy and Texas, USA, and the Manara PSP in northern Israel. We mainly finance our operations and development efforts from
our ongoing operations and by the issuance of corporate debt in the Israeli market, with the remainder being funded by project finance
obtained on a per-project or per-portfolio basis and expect to finance our PV development efforts in the USA by raising funds from tax
equity investors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Changes in the Fair Value of the Talasol PPA</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Talasol PPA experienced
a high volatility due to the substantial increase in electricity prices in Europe since the commencement of the military conflict between
Russia and Ukraine. In accordance with hedge accounting standards, the changes in the Talasol PPA&#8217;s fair value are recorded in our
shareholders&#8217; equity through a hedging reserve and not through the accumulated deficit/retained earnings. The changes do not impact
our consolidated net profit/loss or our consolidated cash flows. As we control Talasol, the total impact of the changes in fair value
of the Talasol PPA (including the minority share) is consolidated into our financial statements and total equity. Alongside the increase
in fair value of the liability in connection with the Talasol PPA, the increase in the electricity prices had, and is expected to continue
to have for as long as the prices remain relatively high, a positive impact on Talasol&#8217;s revenues from the sale of the capacity
that is not subject to the Talasol PPA, resulting in an expected increase in Talasol&#8217;s net income and cash flows.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Potential Sale of the Talmei Yosef PV Plant</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 31, 2023, we executed
an agreement to sell our holdings in the Talmei Yosef PV Plant. For more information, see &#8220;Item 4.A: History and Development of
Ellomay; Recent Developments.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with the expected
sale of the Talmei Yosef PV Plant, we present the results of the Talmei Yosef PV Plant as a discontinued operation and the results for
the years ended December 31, 2022 and 2021 are adjusted accordingly. The Talmei Yosef PV Plant was presented in our financial results
as a financial asset, in accordance with IFRIC 12 under IFRS, and since its acquisition, we recognized relatively high profits&#160;through
its ownership. Accordingly, although the consideration expected to be received for the Talmei Yosef PV Plant reflects a market value higher
than the price invested by us in its acquisition, due to the accounting treatment under IFRIC 12, we recognized a net loss of approximately
&#8364;1.8 million in connection with the expected sale.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>A. Operating
Results </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Segments</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our reportable segments, which
form our strategic business units, are as follows: (i) PV Plants presented per plant or geographical areas (Italy, Spain, Ellomay Solar,
Talasol, USA and Israel), (ii) 9.375% indirect interest in Dorad, (iii) anaerobic digestion plants (Biogas) in the Netherlands, and (iv)
pumped storage hydro power plant in Manara, Israel. For more information see Note 22 <span style="font-family: Times New Roman, Times, Serif">to
our annual financial statements included elsewhere in this Report</span>.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-size: 5pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Results of Operations</b></p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 5pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Year Ended December 31, 2023 Compared with
Year Ended December 31, 2022</i></b></p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 5pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>The results of operations
included in our financial statements for the year ended December 31, 2022 only partially include the results of the Ellomay Solar PV Plant
(since June 24, 2022). In addition, the results for the years ended December 31, 2023 and 2022 do not include the results of the PV Plant
owned by Ellomay Solar Italy Two SRL, which was connected to the grid in February 2024. Therefore, our past results are not indicative
of our results in the future.</i></p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-size: 5pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">For the year ended<br/>
 December 31,</td><td style="white-space: nowrap; padding-bottom: 1.5pt">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2023</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">251</td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(6,077</td><td style="font-weight: bold; text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(6,008</td><td style="white-space: nowrap; text-align: left">)</td></tr>
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    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Financing expenses in connection with debentures</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(3,876</td><td style="font-weight: bold; text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(2,014</td><td style="font-weight: bold; text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </table><div>


</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-size: 5pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>


</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left">*</td><td style="text-align: justify">The results of the Talmei Yosef PV Plant have been reclassified
as a discontinued operation and the results for the year ended December 31, 2022 have been adjusted accordingly.</td>
</tr></table><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left">**</td><td style="text-align: justify">Reclassified.</td>
</tr></table><div>
</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 5pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 113; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->105<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Revenues </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Revenues were approximately
&#8364;48.8 million for the year ended December 31, 2023, down by 7% compared to approximately &#8364;52.2 million for the year ended December
31, 2022. This decrease mainly results from the decrease in electricity prices in Spain and from a curtailment of the electricity supply
from our plants to the grid during June 2023 due to maintenance and upgrade work on the main transmission line between Spain and Portugal,
which caused a decrease in revenues of approximately &#8364;1 million. We subsequently implemented a solution aimed at minimizing the impact
of future similar curtailments. The decrease in revenues was partially offset by an increase in revenues from our biogas plants in the
Netherlands, resulting mainly from increased production and an increase in the 2023 gas price, and from the connection to the grid of
Ellomay Solar on June 24, 2022, upon which we commenced recognition of revenues.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b><i>Revenues by Segments</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">4,381</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  </table><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Spanish PV Segment. </i>Revenues
from our Spanish PV segment were approximately &#8364;2.8 million for the year ended December 31, 2023, compared to approximately &#8364;3.3
million for the year ended December 31, 2022. The decrease mainly resulted from the substantial decrease in electricity prices in Spain.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Ellomay Solar PV Segment.</i>
Revenues from our Ellomay Solar PV segment were approximately &#8364;4.1 million for the year ended December 31, 2023, compared to approximately
&#8364;3.6 million for the year ended December 31, 2022. The increase resulted from the connection to the Spanish grid of the Ellomay Solar
PV Plant on June 24, 2022, upon which we commenced recognition of revenues, partially offset by the substantial decrease in electricity
prices in Spain.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Talasol PV Segment.</i>
Revenues from our Talasol PV segment were approximately &#8364;25 million for the year ended December 31, 2023, compared to approximately
&#8364;32.7 million for the year ended December 31, 2022. The decrease mainly resulted from the substantial decrease in electricity prices
in Spain.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Both the Talasol PV segment
and the Ellomay Solar PV segment suffered from a curtailment of the electricity supply from their facilities to the grid during June 2023
due to maintenance and upgrade work on the main transmission line between Spain and Portugal, which caused a decrease in revenues of approximately
&#8364;1 million. We subsequently implemented a solution aimed at minimizing the impact of future similar curtailments due to maintenance
and upgrades to the national grid.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Netherlands Biogas Segment.
</i>Revenues from our Netherlands biogas segment were approximately &#8364;17 million for the year ended December 31, 2023, compared to
approximately &#8364;12.6 million for the year ended December 31, 2022. The increase in revenues is mainly due to increased production
and an increase in the 2023 gas price.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Operating Expenses and
Depreciation and Amortization Expenses</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Operating expenses were approximately
&#8364;22.9 million for the year ended December 31, 2023, compared to approximately &#8364;23.7 million for the year ended December 31,
2022. This decrease mainly results from a decrease in payments under the Spanish RDL 17/2022, caused by a reduction in the electricity
market price. RDL 17/2022 established the reduction of returns on the electricity generating activity of Spanish production facilities
that do not emit greenhouse gases, accomplished through payments of a portion of the revenues by the production facilities to the Spanish
government. As a result of the decrease in the electricity market price in Spain during the year ended December 31, 2023, the payments
under RDL 17/2022 were lower compared to the year ended December 31, 2022. This decrease in operating expenses was partially offset by
increased operating expenses in connection with our biogas operations in the Netherlands caused by higher production and the use of higher
quality raw materials, and from the connection to the grid of Ellomay Solar PV Plant during June 2022, upon which we commenced recognition
of expenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Depreciation and amortization
expenses were approximately &#8364;16 million for the year ended December 31, 2023, compared to approximately &#8364;15.6 million for the
year ended December 31, 2022. The increase in depreciation and amortization expenses is mainly attributable to the commencement of recognition
of results of the Ellomay Solar PV Plant upon its connection to the Spanish grid in June 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b><i>Operating Expenses
by Segments</i></b></p><div>



</div><p style="margin: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="font-weight: bold"/><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">517</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">426</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">30.45</td><td style="text-align: left"/></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Talasol segment</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">5,786</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">8,764</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(2,978</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(33.98</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Netherlands biogas segment</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">14,733</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">13,186</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,547</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">11.73</td><td style="text-align: left"/></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Spanish PV Segment. </i>Operating
expenses in connection with our Spanish PV segment were approximately &#8364;0.5 million for the year ended December 31, 2023, compared
to approximately &#8364;0.3 million for the year ended December 31, 2022. The increase resulted from indemnification received from the
insurance company in 2022 for repair works carried out at the Rinconada II PV Plant in 2021 due to damage caused by theft.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Ellomay Solar PV Segment.
</i>Operating expenses in connection with the Ellomay Solar PV segment were approximately &#8364;1.8 million for the year ended December
31, 2023, compared to approximately &#8364;1.4 million for the year ended December 31, 2022. The increase resulted from the connection
to the Spanish grid of the Ellomay Solar PV Plant in June 2022, upon which we commenced recognition of revenues and operating expenses.
The operating expenses of Ellomay Solar were also impacted by the reduction in payments under RDL 17/2021 as explained under &#8220;Operating
Expenses and Depreciation and Amortization Expenses&#8221; above.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Talasol PV Segment. </i>Operating
expenses in connection with the Talasol PV segment were approximately &#8364;5.8 million for the year ended December 31, 2023, compared
to &#8364;8.8 million for the year ended December 31, 2022. The decrease resulted mainly from the reduction in payments under RDL 17/2021
as explained above.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Netherlands Biogas Segment.
</i>Operating expenses in connection with our Netherlands biogas segment were approximately &#8364;14.7 million for the year ended December
31, 2023, compared to approximately &#8364;13.2 million for the year ended December 31, 2022. The increase is mainly attributable to higher
production and to the use of higher quality raw materials.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Project Development Costs</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project development costs
were approximately &#8364;4.5 million for the year ended December 31, 2023, compared to approximately &#8364;3.8 million for the year ended
December 31, 2022. The increase in project development costs is mainly due to development expenses in connection with PV projects in the
USA, Italy and Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>General and Administrative
Expenses</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">General and administrative
expenses were approximately &#8364;5.3 million for the year ended December 31, 2023, compared to approximately &#8364;5.9 million for the
year ended December 31, 2022. The decrease in general and administrative expenses is mostly due to a decrease in D&amp;O liability insurance
costs and to bonuses paid to employees in 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Share of Profits of Equity
Accounted Investee</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our share of profits of equity
accounted investee, after elimination of intercompany transactions, was approximately &#8364;4.3 million in the year ended December 31,
2023, compared to approximately &#8364;1.2 million in the year ended December 31, 2022. The increase in our share of profit of equity accounted
investee was mainly due to the increase in revenues of Dorad due to higher quantities produced and a higher electricity tariff, partially
offset by an increase in operating expenses in connection with the increased production and a higher tariff.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Financing Income / Expenses</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(5,852</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(252</td><td style="font-weight: bold; text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(246</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(1,529</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Bank charges and other commissions</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(247</td><td style="font-weight: bold; text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(471</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Interest on lease liability</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(341</td><td style="font-weight: bold; text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(296</td><td style="text-align: left">)</td></tr>

<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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</div><p style="margin: 0"></p><div>

</div><p style="margin: 0">&#160;</p><div>

</div><p style="margin: 0"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Financing expenses, net were
approximately &#8364;3.6 million for the year ended December 31, 2023, compared to financing expenses, net of approximately &#8364;3.5 million
for the year ended December 31, 2022. The increase in financing expenses, net, was mainly due to the following:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">higher interest expenses on loans provided by the minority
(49%) holders in Talasol and higher interest expenses in connection with debentures amounting to an aggregate amount of approximately
&#8364;5.9 million in the year ended December 31, 2023, compared to approximately &#8364;3.7 million for the year ended December 31, 2022.
The increase in interest expenses mainly resulted from the issuance of our Series E Debentures in February 2023 and from higher interest
rates applied to variable interest rate bearing loans; partially offset by</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">higher interest income due to increased interest rates amounting
to approximately &#8364;2 million in the year ended December 31, 2023, compared to an amount of approximately &#8364;0.4 million for the
year ended December 31, 2022; and</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify"><span style="background-color: white">higher </span>income
<span style="background-color: white">resulting from exchange rate differences amounting to approximately &#8364;6.7 million in the year
ended December 31, 2023, mainly in connection with NIS cash and cash equivalents and our NIS denominated debentures, compared to approximately
&#8364;6 million for the year ended December 31, 2022, caused by the 6.9% devaluation of the NIS against the euro during the year ended
December 31, 2023, compared to 6.6% during the year ended December 31, 2022.</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Taxes on Income / Tax Benefit</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Tax benefit was approximately
&#8364;1.4 million in the year ended December 31, 2023, compared to taxes on income of approximately &#8364;1.7 million in the year ended
December 31, 2022. The change in tax is mainly due to the substantial decrease in electricity prices in Spain, resulting in lower taxable
income of our Spanish subsidiaries.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Profit / Loss from Continuing
Operations</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Profit from continuing operations
was approximately &#8364;2.4 million in the year ended December 31, 2023, compared to a loss from continuing operations of approximately
&#8364;0.6 million in the year ended December 31, 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Profit / Loss from Discontinued
Operation</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Loss from discontinued operation
(net of tax) due to the expected sale of the Talmei Yosef PV Plant was approximately &#8364;1.8 million in the year ended December 31,
2023, compared to a profit from discontinued operation of approximately &#8364;0.7 million in the year ended December 31, 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Net Profit</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Net profit was approximately
&#8364;0.6 million in the year ended December 31, 2023, compared to net profit of approximately &#8364;0.1 million for the year ended December
31, 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Total Other Comprehensive
Income / Loss</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Total other comprehensive
income was approximately &#8364;41.3 million for the year ended December 31, 2023, compared to total other comprehensive loss of approximately
&#8364;35.3 million in the year ended December 31, 2022. The change mainly resulted from changes in fair value of cash flow hedges, including
a material increase in the fair value of the Talasol PPA that covers approximately 80% of the output of the Talasol PV Plant compared
to the same period last year. The Talasol PPA experienced a high volatility due to the significant changes in electricity prices in Europe
that included a substantial increase in prices during 2021 and 2022 and a substantial decrease in prices during 2023. As we control Talasol,
the total impact of the changes in fair value of the Talasol PPA (including the minority share) is consolidated into our financial statements
and total equity. In accordance with hedge accounting standards, the changes in the Talasol PPA&#8217;s fair value are recorded in our
shareholders&#8217; equity through a hedging reserve and not through the accumulated deficit/retained earnings. The changes do not impact
our consolidated net profit/loss or our consolidated cash flows.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Total Comprehensive Income
/ Loss</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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was approximately &#8364;41.9 million in the year ended December 31, 2023, compared to total comprehensive loss of approximately &#8364;35.2
million in the year ended December 31, 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>EBITDA</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">EBITDA is a non-IFRS measure
and is defined as earnings before financial expenses, net, taxes, depreciation and amortization. We present this measure to enhance the
understanding of our historical financial performance and to enable comparability between periods. While we consider EBITDA to be an important
measure of comparative operating performance, EBITDA should not be considered in isolation or as a substitute for net income or other
statement of operations or cash flow data prepared in accordance with IFRS as a measure of profitability or liquidity. EBITDA does not
take into account our commitments, including capital expenditures and restricted cash and, accordingly, is not necessarily indicative
of amounts that may be available for discretionary uses. Not all companies calculate EBITDA in the same manner, and the measure as presented
may not be comparable to similarly-titled measures presented by other companies. Our EBITDA may not be indicative of our historic operating
results; nor is it meant to be predictive of potential future results.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><b><i>Reconciliation of Profit to EBITDA
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: -0.5in"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="width: 76%; text-align: left">Profit for the year</td><td style="width: 1%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">3,557</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(1,436</td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">18,758</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: -0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: -0.5in"></p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: -0.5in"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left">*</td><td style="text-align: justify">The results of the Talmei Yosef PV Plant have been reclassified
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</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Year Ended December 31, 2022 Compared with
Year Ended December 31, 2021</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>As noted above, the results
of operations included in our financial statements for the years ended December 31, 2022 and 2021 have been adjusted to reflect the expected
sale of the Talmei Yosef PV Plant and the presentation of related results as a discontinued operation. In addition, the results of operations
included in our financial statements for the year ended December 31, 2021 do not include the results of the Ellomay Solar PV Plant and
the results of operations included in our financial statements for the year ended December 31, 2022 only partially include the results
of the Ellomay Solar PV Plant (since June 24, 2022). Therefore, our results for these years are not indicative of our results in the future.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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 December 31,</td><td style="white-space: nowrap; padding-bottom: 1.5pt">&#160;</td></tr>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(23,671</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(17,223</td><td style="white-space: nowrap; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(15,580</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(14,641</td><td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">Gross profit</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">12,990</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Project development costs</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(3,784</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(2,508</td><td style="white-space: nowrap; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(5,624</td><td style="white-space: nowrap; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(841</td><td style="white-space: nowrap; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Financing expenses</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(3,476</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(27,761</td><td style="white-space: nowrap; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(571</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">140</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(357</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(15,090</td><td style="white-space: nowrap; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,550</td><td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Profit (loss) for the year</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">140</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(19,640</td><td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(7,829</td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(65,542</td><td style="white-space: nowrap; text-align: left">)**</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(35,097</td><td style="white-space: nowrap; text-align: left">)**</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,498</td><td style="white-space: nowrap; padding-bottom: 2.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">Total other comprehensive income (loss) attributable to:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(19,920</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">3,124</td><td style="white-space: nowrap; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(15,371</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(7,622</td><td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Total other comprehensive loss</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,498</td><td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(24,138</td><td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Total comprehensive loss for the year attributable to:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(20,277</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(11,966</td><td style="white-space: nowrap; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Non-controlling interests</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(14,874</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(12,172</td><td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(24,138</td><td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td></tr>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left">*</td><td style="text-align: justify">The results of the Talmei Yosef PV Plant have been reclassified
as a discontinued operation and the results for the years ended December 31, 2022 and 2021 have been adjusted accordingly.</td>
</tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left">**</td><td style="text-align: justify">Reclassified.</td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 119; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->111<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Revenues </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Revenues were approximately
&#8364;52.2 million for the year ended December 31, 2022, up 16.8% compared to approximately &#8364;44.7 million for the year ended December
31, 2021. This increase mainly results from the substantial increase in electricity prices in Spain and the connection to the grid of
the Ellomay Solar PV Plant during June 2022, upon which the Company commenced recognition of revenues.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b><i>Revenues by Segments</i></b></p><div>



</div><p style="margin: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="font-weight: bold"/><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 52%; text-align: left">Spanish PV segment</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">3,264</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Ellomay Solar PV segment</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">3,597</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">3,597</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Talasol PV Segment</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">32,740</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">29,432</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">3,308</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">11.24</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Netherlands biogas segment</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">12,640</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">12,686</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(46</td><td style="text-align: left">)</td><td>&#160;</td>
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  </table><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Spanish PV Segment. </i>Revenues
from our Spanish PV segment were approximately &#8364;3.3 million for the year ended December 31, 2022, compared to approximately &#8364;2.6
million for the year ended December 31, 2021. The increase mainly resulted from the substantial increase in electricity prices in Spain.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Ellomay Solar PV Segment.</i>
Revenues from our Ellomay Solar PV segment were approximately &#8364;3.6 million for the year ended December 31, 2022, compared to &#8364;0
for the year ended December 31, 2021. The increase resulted from the connection to the Spanish grid of the Ellomay Solar PV Plant in June
2022, upon which we commenced recognition of revenues.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Talasol PV Segment.</i>
Revenues from our Talasol PV segment were approximately &#8364;32.7 million for the year ended December 31, 2022, compared to approximately
&#8364;29.4 million for the year ended December 31, 2021. The increase mainly resulted from the substantial increase in electricity prices
in Spain.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Netherlands Biogas Segment.
</i>Revenues from our Netherlands biogas segment were approximately &#8364;<span style="font-family: Times New Roman, Times, Serif">12.6</span>
million for the year ended December 31, 2022, slightly decreased compared to approximately &#8364;12.7 million for the year ended December
31, 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Operating Expenses and
Depreciation and Amortization Expenses</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Operating expenses were approximately
&#8364;23.7 million for the year ended December 31, 2022, compared to approximately &#8364;17.2 million for the year ended December 31,
2021. The increase in operating expenses mainly results from the implementation of the Spanish RDL 17/2021 that established the reduction,
commencing September 16, 2021 and currently in effect until December 31, 2023, that establishes the reduction of returns on the electricity
generating activity of Spanish production facilities that do not emit greenhouse gases accomplished through payments of a portion of the
revenues by the production facilities to the Spanish government. The increase in operating expenses also results from our biogas operations
in the Netherlands that were impacted by the military conflict between Russia and Ukraine causing shortages in certain raw materials and
an increase in delivery prices, and from the connection to the grid of the Ellomay Solar PV Plant during June 2022, upon which we commenced
recognition of expenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Depreciation and amortization
expenses were approximately &#8364;15.6 million for the year ended December 31, 2022, compared to approximately &#8364;14.6 million for
the year ended December 31, 2021. The increase in depreciation and amortization expenses is mainly attributable to the commencement of
recognition of results of the Ellomay Solar PV Plant upon its connection to the Spanish grid in June 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

</div><!-- Field: Page; Sequence: 120; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->112<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b><i>Operating Expenses
by Segments</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b><i>&#160;</i></b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="padding-left: 0pt; font-weight: bold"/><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 52%; text-align: justify; padding-left: 0pt">Spanish PV segment</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">322</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-left: 0pt">Ellomay Solar segment</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,399</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,399</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">100</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-left: 0pt">Talasol segment</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">8,764</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">6,305</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,459</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">39</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-left: 0pt">Netherlands biogas segment</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">13,186</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">10,446</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,740</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">26.2</td><td style="text-align: left">&#160;</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Spanish PV Segment. </i>Operating
expenses in connection with our Spanish PV segment were approximately &#8364;0.3 million for the year ended December 31, 2022, compared
to approximately &#8364;0.5 million for the year ended December 31, 2021. The decrease resulted from indemnification received from the
insurance company in 2022 for repair works carried out at the Rinconada II PV Plant due to damage caused by theft in 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Ellomay Solar PV Segment.
</i>Operating expenses in connection with the Ellomay Solar PV segment were approximately &#8364;<span style="font-family: Times New Roman, Times, Serif">1.4</span>
million for the year ended December 31, 2022, compared to 0 for the year ended December 31, 2021. The increase resulted from the connection
to the Spanish grid of the Ellomay Solar PV Plant in June 2022, upon which we commenced recognition of revenues and operating expenses.
The operating expenses of Ellomay Solar were also impacted by RDL 17/2021 as explained under &#8220;Operating Expenses and Depreciation
and Amortization Expenses&#8221; above.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Talasol PV Segment. </i>Operating
expenses in connection with the Talasol PV segment were approximately &#8364;8.8 million for the year ended December 31, 2022, compared
to &#8364;6.3 million for the year ended December 31, 2021. The increase resulted mainly from RDL 17/2021 as explained above.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Netherlands Biogas Segment.
</i>Operating expenses in connection with our Netherlands biogas segment were approximately &#8364;13.2 million for the year ended December
31, 2022, compared to approximately &#8364;10.4 million for the year ended December 31, 2021. The increase is mainly attributable to the
military conflict between Russia and Ukraine causing shortages in certain raw materials and an increase in delivery price.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><b>Project Development Costs</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project development costs
were approximately &#8364;3.8 million for the year ended December 31, 2022, compared to approximately &#8364;2.5 million for the year ended
December 31, 2021. The increase in project development costs is mainly due to development expenses in connection with PV projects in Italy
and Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>General and Administrative
Expenses</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">General and administrative
expenses were approximately &#8364;5.9 million for the year ended December 31, 2022, compared to approximately &#8364;5.6 million for the
year ended December 31, 2021. The increase is mostly due to an increase in the management fee paid pursuant to the new Management Services
Agreement effective July 1, 2021, and an increase in salaries paid to employees.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Share of Profits of Equity
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our share of profits of equity
accounted investee, after elimination of intercompany transactions, was approximately &#8364;1.2 million in the year ended December 31,
2022, compared to approximately &#8364;0.12 million in the year ended December 31, 2021. The increase in our share of profit of equity
accounted investee was mainly due to the increase in revenues of Dorad due to higher quantities produced and a higher electricity tariff,
partially offset by an increase in operating expenses in connection with the increased production and higher tariff.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Financing Expenses</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">For the year ended<br/>
 December 31</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
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    <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">&#8364; in thousands</td><td>&#160;</td></tr>

<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left">Interest income</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">402</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">266</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Profit from settlement of derivatives contract</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">407</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Debentures interest and related expenses</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(2,130</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(3,220</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Interest and commissions related to projects finance</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(5,852</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(4,313</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(246</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(12,180</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Interest on minority shareholder loan</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(1,529</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(2,055</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(471</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(137</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Interest on lease liability</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(296</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(294</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Gain (loss) from exchange rate differences, net</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,394</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Total financing expenses, net</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(3,476</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(27,761</td><td style="text-align: left">)</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Financing expenses, net were
approximately &#8364;3.5 million for the year ended December 31, 2022, compared to financing expenses, net of approximately &#8364;27.8
million for the year ended December 31, 2021. The decrease in financing expenses, net, was mainly due to the following:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify"><span style="background-color: white">Income resulting from
exchange rate differences amounting to approximately &#8364;6 million in the year ended December 31, 2022, mainly in connection with NIS
cash and cash equivalents and our NIS denominated debentures, compared to expenses in the amount of approximately &#8364;5.4 million for
the year ended December 31, 2021, caused by the 6.6% appreciation of the NIS against the euro during the year ended December 31, 2022,
compared to the 10.8% devaluation of the NIS against the euro during the year ended December 31, 2021;</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">An amount of approximately &#8364;15.5 million recorded as
of December 31, 2021 in connection with the expected prepayment of Talasol&#8217;s previous financing. Such expenses include approximately
&#8364;3.3 million recorded in connection with the termination of an interest rate swap contract and &#8364;12.2 million in connection
with the amortization of the outstanding balance of expenses that were capitalized to Talasol&#8217;s previous financing; and</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Approximately &#8364;0.8 million of expenses in connection
with the early repayment of our Series B Debentures, which were included in the financing expenses for the year ended December 31, 2021.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Taxes on Income / Tax Benefit</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Taxes on income were approximately
&#8364;1.6 million in the year ended December 31, 2022, compared to a tax benefit of approximately &#8364;2.5 million in the year ended
December 31, 2021. The increase in taxes on income was mainly due to the substantial increase in electricity prices in Spain, resulting
in higher taxable income of our Spanish subsidiaries.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Loss from Continuing Operations</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Loss from continuing operations
was approximately &#8364;0.6 million in the year ended December 31, 2022, compared to approximately &#8364;20.4 million for the year ended
December 31, 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Profit from Discontinued
Operations</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Profit from discontinued operation
(net of tax) was approximately &#8364;0.7 million in the year ended December 31, 2022, compared to approximately &#8364;0.8 million for
the year ended December 31, 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Net Profit / Loss</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Net profit was approximately
&#8364;0.1 million in the year ended December 31, 2022, compared to net loss of approximately &#8364;19.6 million for the year ended December
31, 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Total Other Comprehensive
Loss</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Total other comprehensive
loss was approximately &#8364;35.3 million for the year ended December 31, 2022, compared to total other comprehensive loss of approximately
&#8364;4.5 million in the year ended December 31, 2021. The increase in total other comprehensive loss mainly resulted from foreign currency
translation differences on NIS denominated operations, as a result of fluctuations in the euro/NIS exchange rates and from changes in
fair value of cash flow hedges, including a material increase in the fair value of the liability resulting from the Talasol PPA. The Talasol
PPA experienced a high volatility due to the substantial increase in electricity prices in Europe since the commencement of the military
conflict between Russia and Ukraine. In accordance with hedge accounting standards, the changes in the Talasol PPA&#8217;s fair value
are recorded in the Company&#8217;s shareholders&#8217; equity through a hedging reserve and not through the accumulated deficit/retained
earnings. The changes do not impact the Company&#8217;s consolidated net profit/loss or the Company&#8217;s consolidated cash flows. As
the Company controls Talasol, the total impact of the changes in fair value of the Talasol PPA (including the minority share) is consolidated
into the Company&#8217;s financial statements and total equity. Alongside the increase in fair value of the liability in connection with
the Talasol PPA, the increase in the electricity prices had, and is expected to continue to have for as long as the prices remain relatively
high, a positive impact on Talasol&#8217;s revenues from the sale of the capacity that is not subject to the Talasol PPA, resulting in
an expected increase in Talasol&#8217;s net income and cash flows.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Total Comprehensive Loss</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Total comprehensive loss was
approximately &#8364;35.2 million in the year ended December 31, 2022, compared to total comprehensive loss of approximately &#8364;24.1
million in the year ended December 31, 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>EBITDA</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">EBITDA was approximately &#8364;20.8
million for the year ended December 31, 2022, compared to approximately &#8364;20.2 million in the year ended December 31, 2021. For an
explanation concerning the use of non-IFRS financial measures see above under &#8220;EBITDA&#8221; in the comparison between the years
ended December 31, 2023 and December 31, 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: -0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: -0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: -0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><b><i>Reconciliation of Loss to EBITDA
</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: -0.5in"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    ended December 31,</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">140</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Impact of Fluctuation of Currencies</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We hold cash and cash equivalents,
marketable securities and restricted cash in various currencies, mainly in euro and NIS. Our investments in our European operations (i.e.,
in our Spanish PV Plants, our WtE plants, the Talasol <span style="font-family: Times New Roman, Times, Serif">PV Plant and our PV projects
under development and construction in Italy)</span> are denominated in euro, our investments in our Israeli operations (i.e., Ellomay Luzon
Energy, the Talmei Yosef PV Plant, the Manara PSP and PV projects under development) are denominated in NIS and our investments in our
PV projects in Texas, USA, are denominated in USD. Our financing is denominated in NIS (i.e., principal and interest payments on our Debentures
and the financing of the Talmei Yosef PV Plant and the Manara PSP) and in euro (i.e., financing in connection with our Spanish PV Plants
and the project finance and loans provided by the minority (49%) holders of Talasol). We therefore are affected by changes in the prevailing
euro/NIS exchange rates and euro/USD exchange rates.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The table below sets forth
the annual rates of appreciation (or devaluation) of the NIS against the euro.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
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    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="width: 64%; padding-left: 5.4pt">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">&#160;</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">6.6</td><td style="text-align: left">%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(10.8</td><td style="text-align: left">)%</td></tr>
  </table><div>


</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The representative NIS/euro
exchange rate was NIS 3.520 for one euro on December 31, 2021, NIS 3.753 for one euro on December 31, 2022 and NIS 4.012 for one euro
on December 31, 2023. The average exchange rates for converting the NIS to euro during the years ended December 31, 2021, 2022 and 2023
were 3.820, 3.536 and 3.99 for one euro, respectively. The representative exchange rate as of March 31, 2024 was NIS 3.98 for one euro.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our management determined
that our functional currency is the euro and elected the euro as our reporting currency, effective December 31, 2017.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Items included in the financial
statements of each of our subsidiaries and investees are measured using their functional currency. When a company&#8217;s functional currency
differs from its parent&#8217;s functional currency that entity represents a foreign operation whose financial statements are translated
so that they can be included in the consolidated financial statements as follows: (i) the assets and liabilities of foreign operations,
including adjustments arising on acquisition, are translated at exchange rates at the reporting date, (ii) the income and expenses for
each period presented in the statement of profit or loss and other comprehensive income (loss) are translated at average exchange rates
for the presented periods; however, if exchange rates fluctuate significantly, income and expenses are translated at the exchange rates
at the date of the transactions and (iii) foreign currency differences are recognized in equity as a separate component of other comprehensive
income (loss) under &#8220;foreign currency translation adjustments.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For information concerning
hedging transactions entered, see &#8220;Item 11: Quantitative and Qualitative Disclosures About Market Risk.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Governmental Economic, Fiscal, Monetary
or Political Policies or Factors that have Materially Affected or could Materially Affect our Operations or Investments by U.S. Shareholders</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Governmental Regulations Affecting the Operations
of our PV Plants and other Plants</i>	</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our PV Plants and other energy
manufacturing plants are subject to comprehensive regulation and we sell the electricity and energy produced for rates determined by governmental
legislation and to local governmental entities. Any change in the legislation that affects plants such as our plants could materially
adversely affect our results of operations. An economic crisis in Europe and specifically in Spain, the Netherlands and Italy, whether
related to a military conflict or otherwise, or financial distress of the IEC or Noga in Israel, could cause the applicable legislator
to reduce benefits provided to operators of PV plants or other privately-owned energy manufacturing plants or to revise the incentive
or regulatory regimes that currently governs the sale of electricity in Spain, the Netherlands, Israel and Italy. For more information
see &#8220;Item&#160;3.D: Risk Factors&#160;- Risks Related to our Renewable Energy Operations,&#8221; &#8220;Item&#160;3.D: Risk Factors&#160;-
Risks Related to our Investment in Ellomay Luzon Energy,&#8221; &#8220;Item&#160;3.D: Risk Factors&#160;- Risks Related to our Other Operations&#8221;,
&#8220;Item 4.B: Material Effects of Government Regulations on the PV Plants,&#8221; &#8220;Item 4.B: Material Effects of Government Regulations
on Dorad&#8217;s Operations,&#8221; &#8220;Item 4.B: The Netherlands Waste-to-Energy Market and Regulation&#8221; and &#8220;Item 4.B:
Material Effects of Government Regulations on The Manara PSP.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Effective Israeli Corporate Tax Rate</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Israeli companies are generally
subject to company tax on their taxable income. The Israeli corporate tax has been 23% as from January 2018.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31, 2023, Ellomay
Capital Ltd. had tax loss carry-forwards in the amount of approximately &#8364;<span style="font-family: Times New Roman, Times, Serif">1.4</span>
million. Under current Israeli tax laws, tax loss carry-forwards do not expire and may be offset against future taxable income. The amount
of tax loss carry-forwards is subject to tax inspections and final assessments of settlements with the tax authorities.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>B. Liquidity
and Capital Resources </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>General </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As of March 31, 2024, we held
approximately &#8364;84.4 million in cash and cash equivalents and deposits and approximately &#8364;18.1 million in restricted short-term
and long-term cash.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Although we now hold the
aforementioned funds, we may need additional funds if we seek to acquire certain new businesses and operations and if we seek to implement
our project development plans, including the plans and projects under development as set forth in &#8220;Item 4.B: Business Overview,&#8221;
and to advance large development projects that require substantial funds. If we are unable to raise funds through public or private financing
of debt or equity, we will be unable to fund certain projects, investments or business combinations that could have ultimately improved
our financial results. We cannot ensure that additional financing will be available on commercially reasonable terms or at all.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We entered into various project
finance agreements in connection with the financing of several of our PV Plants and the Manara PSP and raised funds via issuances of securities
(debt and equity) in private and public offerings in Israel (all as more fully described below).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will require additional
funds in order to advance the projects that are currently under development or that will be developed in the future.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 11, 2021, the
Manara PSP reached financial closing. On February 23, 2021, we completed public offerings in Israel of additional Series C Debentures
and of the newly-issued Series D Convertible Debentures, convertible into our ordinary shares. In addition, during January and February
2021, Israeli institutional investors exercised warrants previously issued to them in a private placement. On March 18, 2021, we performed
an early repayment, in full, of our Series B Debentures.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">On
October 25, 2021, we issued additional Series C Debentures in a private offering in Israel to Israeli classified investors in an aggregate
principal amount of NIS 120 million (approximately &#8364;32.1million)</span> for an aggregate gross consideration <span style="font-family: Times New Roman, Times, Serif">of
approximately NIS 121.6 million</span> (approximately &#8364;32.5 million)<span style="font-family: Times New Roman, Times, Serif">.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 6, 2022, the holders
of our Series C Debentures approved an amendment to the Series C Deed of Trust, which provides for certain revisions to the financial
covenants and for the increase of the annual interest rate payable on the principal of the Series C Debentures by 0.25% from 3.3% to 3.55%,
commencing on June 6, 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 1, 2023, we issued
NIS 220 million par value principal of our Series E Secured Debentures.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt">On January <span style="font-family: Times New Roman, Times, Serif">16,
2024</span>, we issued units consisting of an aggregate principal amount of NIS 170 million of our newly issued Series F Debentures and
Series 2 Options to purchase an aggregate of 1,020,000 ordinary shares at a price per share of NIS 80 (subject to customary adjustments).
For more information see &#8220;Item 4.A<span style="font-family: Times New Roman, Times, Serif">: </span>History and Development of Ellomay&#8221;
under &#8220;Recent Developments.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">For
more information see </span>&#8220;Item 4.B: Business Overview,&#8221; &#8220;Item 10.C: Material Contracts&#8221; and Notes 6 and 11
to our annual financial statements included elsewhere in this Report.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31, 2023, our
working capital was approximately &#8364;<span style="font-family: Times New Roman, Times, Serif">5.2</span> million, compared to a working
capital deficiency of approximately &#8364;26.5 million as of December 31, 2022. We believe that based on our current operating forecast,
the combination of existing working capital and expected cash flows from operations will be sufficient to finance our ongoing operations
for the next twelve months.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We currently invest our excess
cash in cash and cash equivalents that are highly liquid and in short-term deposits.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31, 2023, we
had approximately &#8364;<span style="font-family: Times New Roman, Times, Serif">51.1</span> million of cash and cash equivalents, compared
with approximately &#8364;46.5 million of cash and cash equivalents at December 31, 2022 and approximately &#8364;41.2 million of cash and
cash equivalents at December 31, 2021. The increase in cash during the year ended December 31, 2023 was mainly due to proceeds from the
issuance of our Series E Debentures partially offset by our investments in the development and construction of renewable energy facilities.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Project Finance</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are currently party to
project finance agreements in connection with our Spanish and Israeli PV Plants (other than the Ellomay Solar PV Plant), our WtE plants
and the Manara PSP. We may in the future enter into additional project finance agreements with respect to one or more of our other current
or future plants. The following is a brief description of the project finance agreements that existed during the year ended December 31,
2023.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>PV Project Finance</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Talasol PV Plant Finance
</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On April 30, 2019, the Talasol
<span style="font-family: Times New Roman, Times, Serif">PV Plant</span> reached financial closing. This financing included several facilities
in the aggregate amount of approximately &#8364;158.5 million.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">In
</span>December <span style="font-family: Times New Roman, Times, Serif">2021, Talasol entered into a project finance arrangement in the
aggregate amount of &#8364;175 million, or the Talasol Financing. The Talasol Financing achieved financial closing in January 2022</span>
and amounts withdrawn were partially used to repay <span style="font-family: Times New Roman, Times, Serif">Talasol&#8217;s previous fina</span>ncing.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Talasol Financing is based on a Facilities Agreement in the aggregate amount of &#8364;175 million provided by European institutional
lenders, or the Talasol Financing. The Talasol Financing provides for the provision of a term loan facility in two tranches: (i) a term
loan in the amount of &#8364;155 million of which the final maturity date is June 30, 2044, and (ii) a term loan in the amount of &#8364;20
million of which the final maturity date is December 31, 2042. The weighted average life of the Talasol Financing is approximately 11.5
years, compared to an original weighted average life of 5.5 years of the Talasol Previous Financing. The Talasol Financing bears a fixed
annual interest rate at a weighted average of approximately 3%, compared to a variable interest rate that was fixed at an average of
approximately 3% by an interest rate swap contract in Talasol&#8217;s previous financing. </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
uses of the Talasol Financing amount were as follows: (1) prepayment of the outstanding &#8364;121 million amount of Talasol&#8217;s previous
financing; (2) deposit of &#8364;6.9 million in Talasol&#8217;s bank account as a debt service fund; (3) deposit of &#8364;10 million in
Talasol&#8217;s bank account as security for a letter of credit to the PPA provider, or the Talasol PPA Security Fund, (4) unwinding
the interest rate SWAP entered into in connection with Talasol&#8217;s previous financing in an amount of &#8364;3.29 million; (5) transaction
costs in an amount of approximately &#8364;3 million; and (6) a special dividend to Talasol&#8217;s shareholders in an amount of approximately
&#8364;31 million.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Talasol PPA Security Fund is reduced by 10% every year, up to a minimum amount of &#8364;3.5 million, which will be released at the expiration
of the PPA.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the outstanding amount under the Talasol Financing was approximately &#8364;156.7 million. This aggregate outstanding
loan balance is net of an amount of approximately &#8364;2.7 million of debt issuance costs to&#160;be amortized over the length of the
underlying loan.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
own 51% of Talasol and consolidate its results in our financial statements included elsewhere in this Report.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Rinconada
II, Rodr&#237;guez I, Rodr&#237;guez II and Fuente Librilla Project Finance</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 12, 2019, four of our Spanish indirect wholly-owned subsidiaries, Rodr&#237;guez I Parque Solar, S.L.U., Rodr&#237;guez II
Parque Solar, S.L.U., Seguisolar, S.L.U. and Ellomay Spain, S.L., or, together, the Spanish Subsidiaries, entered into a facility agreement
governing the procurement of project financing in the aggregate amount of approximately &#8364;18.4 million with Bankinter, S.A., or the
Facility Agreement. </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Facility Agreement amount consists of the following tranches:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="text-align: justify; width: 0.5in"/><td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in
                                            an amount of approximately &#8364;3.6 million, granted to Rodr&#237;guez I Parque Solar,
                                            S.L.U.;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="text-align: justify; width: 0.5in"/><td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in
                                            an amount of approximately &#8364;6 million, granted to Rodr&#237;guez II Parque Solar,
                                            S.L.U.;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="text-align: justify; width: 0.5in"/><td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in
                                            an amount of approximately &#8364;3 million, granted to Seguisolar, S.L.U.;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="text-align: justify; width: 0.5in"/><td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">d.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in
                                            an amount of approximately &#8364;5 million, granted to Ellomay Spain, S.L.; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">e.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
                                            revolving credit facility to attend the debt service if needed, for a maximum amount of &#8364;0.8
                                            million granted to any of the Spanish Subsidiaries.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
termination date of the Facility Agreement is December 31, 2037 and an annual interest at the rate of Euribor 6 months plus a margin
of 2% (with a zero interest floor) is repaid semi-annually on June 20 and December 20. The principal is repaid on a semi-annual basis
based on a pre-determined sculptured repayment schedule.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Spanish Subsidiaries entered into the swap agreements on March 12, 2019 with respect to approximately &#8364;17.6 million (with a decreasing
notional principal amount based on the amortization table) until December 2037, replacing the Euribor 6 month rate with a fixed 6 month
rate of approximately 1%, resulting in a fixed annual interest rate of approximately 3%.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the outstanding amounts under the Project Finance were approximately &#8364;13.2 million. This aggregate outstanding
loan balance is net of an amount of approximately &#8364;0.2 million debt issuance costs to&#160;be amortized over the length of the underlying
loan.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Talmei
Yosef Project Finance</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
construction of the Talmei Yosef PV Plant was financed by two bank loans as follows:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="text-align: justify; width: 0.5in"/><td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
                                            loan in the aggregate amount of approximately NIS 80 million provided during 2013 through
                                            2014, linked to the Israeli CPI and bearing an average annual interest of approximately 4.65%.
                                            This loan is payable (principal and interest) every six months commencing June 30, 2014.
                                            The final maturity date is December 31, 2031; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 87pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="text-align: justify; width: 0.5in"/><td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
                                            loan in the aggregate amount of approximately NIS 25 million provided during 2014, linked
                                            to the Israeli CPI and bearing an annual interest of approximately 4.52%. This loan is payable
                                            (principal and interest) every six months commencing June 30, 2015 through June 30, 2028.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the outstanding amount under the Talmei Yosef Project Finance was approximately NIS 52.3 million (approximately
&#8364;13 million). This aggregate outstanding loan balance is net of an amount of approximately NIS 0.3 million (approximately &#8364;0.1
million) debt issuance costs to&#160;be amortized over the length of the underlying loan.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Project Finance documents also require the Talmei Yosef project company to deposit funds for the renewal of equipment (approximately
NIS 5.2 million as of December 31, 2023) as well as funds sufficient to cover its debt service required level which consists of six months
payment of principal and interest (approximately NIS 1.6 million as of December 31, 2023).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
noted under &#8220;Item 4.A: History and Development of Ellomay; Recent Developments,&#8221; we executed an agreement to sell our holdings
in the Talmei Yosef PV Plant. To the extent such sale will be consummated, the Talmei Yosef Project Finance and related liabilities will
be transferred to the buyers.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>WtE
Plants Finance</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Groen
Goor Project Finance</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Groen
Goor, Independent Power Plant B.V. (the entity that holds the permits and subsidies in connection with the Goor Project and is wholly-owned
by Groen Goor), or GIPP, and Ellomay Luxembourg are parties to a senior project finance agreement documents, or the Goor Loan Agreement,
with Co&#246;peratieve Rabobank U.A., or Rabobank, that includes the following tranches: (i) two loans with principal amounts of &#8364;3.51
million (with a fixed interest rate of 3% for the first five years) and &#8364;2.09 million (with a fixed interest rate of 2.5% for the
first five years), for a period of 12.25 years, repayable in equal monthly installments commencing three months following the connection
of the Goor Project&#8217;s plant to the grid and (ii) an on-call credit facility of &#8364;370,000 with variable interest. </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, Ellomay Luxembourg, our wholly-owned subsidiary: (i) provided the following undertakings to Rabobank: (a) that Groen Goor will
not make distributions to its shareholders for a period of two years following the execution of the Loan Agreement, (b) that Groen Goor
will not make distributions or repurchase its shares so long as the ratio of Groen Goor&#8217;s and GIIP&#8217;s equity and liabilities
to shareholders to their balance sheet minus certain reserves and intangible assets is less than 40%, and (c) that in the event the aforementioned
ratio is below 40%, its shareholders will invest the equity required in order to increase this ratio to 40%, pro rata to their holdings
in Groen Goor and up to a maximum of &#8364;1.2 million, and (ii) provided pledges on its rights in connection with the shareholders&#8217;
loans provided to Groen Goor, which loans shall also be subordinated by Ellomay Luxembourg in the favor of Rabobank. Shortages in liquidity
as a result of exceeding the construction budget and/or extension of start-up costs of the Goor Project shall be provided by Ellomay
Luxembourg and not financed by Rabobank. In addition, we provided a guarantee to Rabobank for the fulfillment of Ellomay Luxembourg&#8217;s
undertakings set forth above.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the outstanding amount under the Groen Goor Project Finance was approximately &#8364;3 million.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Oude
Tonge Project Finance</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 3, 2017, Oude Tonge, Oude Tonge Holdings B.V. (the entity that holds the permits and subsidies in connection with the Oude Tonge
Project and is wholly-owned by Oude Tonge), or OTH, and Ellomay Luxembourg are parties to senior project finance agreement documents,
or the Oude Tonge Loan Agreement, with Rabobank. In June 2017, the financial closing occurred with respect to the project finance that
includes the following tranches: (i) two loans with principal amounts of &#8364;3.15 million and &#8364;1.7 million, each with a fixed
annual interest rate of 3.1% for the first five years, for a period of 12.25 years, repayable in equal monthly installments commencing
three months following the connection of the Oude Tonge Project to the grid and (ii) an on-call credit facility of &#8364;100,000 with
variable interest. </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the Oude Tonge Loan Agreement, Ellomay Luxembourg, our wholly-owned subsidiary: (i) provided the following undertakings
to Rabobank: (a) that Oude Tonge will not make distributions to its shareholders for a period of two years following the execution of
the Loan Agreement, (b) that Oude Tonge will not make distributions or repurchase its shares so long as the ratio of Oude Tonge&#8217;s
and OTH&#8217;s equity and liabilities to shareholders to their balance sheet minus certain reserves and intangible assets is less than
40%, (c) that in the event the aforementioned ratio is below 40%, its shareholders will invest the equity required in order to increase
this ratio to 40%, pro rata to their holdings in Oude Tonge and up to a maximum of &#8364;1 million, and (d) that they will provide the
equity required for the completion of the Goor Project and (ii) provided pledges on its rights in connection with the shareholders loans
provided to Oude Tonge, which loans shall also be subordinated by Ellomay Luxembourg in the favor of Rabobank. Shortages in liquidity
as a result of exceeding the construction budget and/or extension of start-up costs of the Goor Project shall be provided by Ellomay
Luxembourg and not financed by Rabobank. In addition, we provided a guarantee to Rabobank for the fulfillment of Ellomay Luxembourg&#8217;s
undertakings set forth above.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the outstanding amount under the Oude Tonge Project Finance was approximately &#8364;2.5 million.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>




</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Groen
Gas Gelderland Project Finance</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GG
Gelderland entered into a senior project finance agreement, or the Gelderland Loan Agreement, with Rabobank, that includes the following
tranches: (i) four loans with principal amounts of (a) approximately &#8364;2.5 million (with a fixed interest rate of 3.6% for the first
five years), (b) &#8364;1.2 million (with a fixed interest rate of 4.5% for the first five years), (c) &#8364;0.4 million (with a fixed
interest rate of 3.55% for the first five years) and (d) approximately &#8364;2.8 million (with a fixed interest rate of 4.5% for the
first five years), for a period of 12 years (144 monthly payments), repayable in equal monthly installments and (ii) an on-call credit
facility of &#8364;0.75 million with variable interest. An aggregate amount of approximately &#8364;6.9 million was withdrawn in 2015,
2016 and 2018 on account of these loans. On November 30, 2020, GG Gelderland replaced the loan set forth in (i)(a) above which as of
that date had an outstanding principal amount of &#8364;1.89 million, with another loan from Rabobank with a fixed interest rate of 3.1%
per year, repayable in 56 payments monthly, with a repayment of principal in one payment in August 2025. On the same date, the interest
for the other loans bearing a fixed interest rate of 4.5% per year for 5 years was reduced to 3.5% per year for the next 5 years, commencing
December 2020.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the outstanding amount under the Gelderland Loan Agreement was approximately &#8364;3.5 million.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GG
Gelderland entered into a loan agreement at the end of November 2020, with Ontwikkelingsnaatscgappij Oost-Nederland N.V., or Oost, as
a benefit created in connection with the Covid-19 pandemic. The loan is with a principal amount of &#8364;0.75 million bore a fixed interest
rate of 3% per year for 3 years. The interest and the principle were to be fully repaid in one single amount after 3 years. According
to the agreement with Oost, the loan term may be prolonged up to 5 years. In October 2023, it was decided to extend the loan to 5 years
and the interest rate changed to 5% as from November 2020.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the outstanding amount under the agreement with Oost was approximately &#8364;0.9 million.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Manara
PSP Project Finance</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
financial closing of the Manara PSP Project Finance occurred in February 2021. The Manara PSP Project Finance is provided by a consortium
of Israeli banks and institutional investors, arranged and led by Mizrahi-Tefahot Bank Ltd., in the aggregate amount of NIS 1.27 billion
(approximately &#8364;350 million based on the exchange rage at the time). This amount is linked to a synthetic composite index comprising
a weighted average of the indices and currencies applicable to the Manara PSP&#8217;s construction costs. The linkage is performed once
a year in March during the first four years of construction, and thereafter semi-annually until construction end. In March 2022, the
facilities under the Manara PSP Project Finance were increased as a result of the rise in the Project Index by approximately NIS 40 million
(approximately &#8364;10.6 million). A similar increase was carried out in March 2023 in the amount of approximately 63 Million NIS (approximately
&#8364;16.8 million).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Manara PSP Project Finance includes: (i) a senior secured tranche at a fixed rate of interest (with base interest rate equal to the yield
to maturity of Israeli treasury bonds with like duration of the loan), linked to the Israeli Consumer Price Index and to be repaid over
a period of 19.5 years from the commercial operation date (annual interest rate spread of 3.25% per-annum during the Construction Period
of the Project and 2.40% per-annum during the commercial operation phase); and (ii) a subordinated secured tranche at a floating rate
of interest (Bank of Israel rate plus a spread of 4.35% per-annum during the construction period and 3.90% per-annum during the commercial
operation phase) with a slightly shorter maturity. The Manara PSP Project Finance includes customary terms in connection with early prepayment,
acceleration of payments upon certain breaches and limitations on distributions. The Manara PSP Project Finance also includes ancillary
facilities such as Standby, VAT, Guarantees and Debt Service Reserve facilities. </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sheva
Mizrakot and Ellomay Water undertook to provide aggregate financing of approximately NIS 353 million (approximately &#8364;94.1 million),
pro rata to their holdings in the Manara PSP, linked to the Project Index. Due to this indexation, additional shareholders&#8217; loans
were provided in March 2022 and March 2023, in the amount of approximately NIS 11.5 million (approximately &#8364;3.2 million) and approximately
NIS 17.5 million (approximately &#8364;4.7 million), respectively. An additional amount of approximately NIS 10 million (approximately
&#8364;2.5 million) was provided on March 2024. Following a publication of the Israeli Electricity Authority regarding calculation methods
that may reduce coverage ratios during the operations of the Manara PSP, the owners of the Manara PSP agreed to provide the lenders with
certain undertakings to inject additional equity to the Manara PSP in certain scenarios, subject to a cap which is currently estimated
by the owners of the Manara Project PSP to be approximately NIS 37 million (approximately &#8364;9.2 million).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
and Ampa provided certain sponsor support undertakings towards the lenders commensurate with the size and complexity of the project and
the length of the construction period, including a standby equity guarantee in the aggregate amount of approximately NIS 13.5 million
(approximately &#8364;3.4 million), pro rata to our holdings in the Manara PSP. This standby equity guarantee is linked and adjusted in
the same manner and timing as the long-term facilities, as described above.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, we undertook in connection with the Manara PSP Project Finance to maintain control over the Manara PSP and to provide customary
pledges on the assets of and rights in the project. The shareholders of Ellomay PS provided pledges over their shares, the shareholders&#8217;
loans and the shareholders&#8217; mezzanine loan.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
first withdrawal of the funding for the Manara PSP, in the amount of NIS 75 million, occurred on January 31, 2022.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the outstanding amount under the Manara PSP Project Finance was approximately NIS 279.5 million (approximately
&#8364;69.7 million). This aggregate outstanding loan balance is net of an amount of approximately NIS 7.4 million (approximately &#8364;1.8
million) of debt issuance costs to&#160;be amortized over the length of the underlying loan.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Other
Financing Activities</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
noted above, we historically financed a portion of our operations through the issuance of debt and equity in Israel. The following is
a summary of outstanding Debentures issued in Israel and traded on the Tel Aviv Stock Exchange as of December 31, 2023:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">Series</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Outstanding Principal as of December 31, 2023 (NIS in thousands)</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Annual Interest Rate</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Indexation</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Secured /<br/>
 Convertible</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Final Repayment Date</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 15%; text-align: left">C</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 13%; text-align: right">286,402.4</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">3.55</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%">&#160;</td>
    <td style="width: 15%; text-align: center">None</td><td style="width: 1%">&#160;</td>
    <td style="width: 15%; text-align: center">N/A</td><td style="width: 1%">&#160;</td>
    <td style="width: 24%; text-align: center">June 30, 2025</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">D</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">62,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1.2</td><td style="text-align: left">%</td><td>&#160;</td>
    <td style="text-align: center">None</td><td>&#160;</td>
    <td style="text-align: center">Convertible</td><td>&#160;</td>
    <td style="text-align: center">December 31, 2026</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">E</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">220,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">6.05</td><td style="text-align: left">%</td><td>&#160;</td>
    <td style="text-align: center">None</td><td>&#160;</td>
    <td style="text-align: center">Secured</td><td>&#160;</td>
    <td style="text-align: center">March 31, 2029</td></tr>
  </table><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
more information concerning our Series F Debentures, issued in January 2024, see &#8220;Item 4.A: History and Development of Ellomay;
Recent Developments.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Series
C Debentures</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 25, 2019, we issued approximately NIS 89.1 million (approximately &#8364;22.7 million, as of the issuance date) of unsecured non-convertible
Series C Debentures due June 30, 2025 through a public offering in Israel. The gross proceeds of the offering were approximately NIS
89.1 million and the net proceeds of the offering, net of related expenses such as consultancy fee and commissions, were approximately
NIS 87.6 million (approximately &#8364;22.3 million). During 2020 and 2021, we issued additional Series C Debentures in an aggregate principal
amount of NIS 374.939 million for aggregate gross proceeds of approximately NIS 388.2 million and aggregate net proceeds of approximately
NIS 385.1 million.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 6, 2022, the holders of our Series C Debentures approved an amendment to the Series C Deed of Trust, which provides for certain
revisions to the financial covenants, reflected below, and for the increase of the annual interest rate payable on the principal of the
Series C Debentures by 0.25% from 3.3% to 3.55%, commencing on June 6, 2022.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series C Debentures are traded on the TASE.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
principal amount of Series C Debentures is repayable in five (5) unequal annual installments as follows: on June 30, 2021 10% of the
principal was paid, on June 30, 2022 15% of the principal was paid, on June 30, 2023 15% of the principal shall be paid, and on June
30 of each of the years 2024 and 2025 30% of the principal shall be paid. The Series C Debentures initially bore a fixed interest at
the rate of 3.3% per year (that is not linked to the Israeli CPI or otherwise), payable semi-annually on June 30 and December 31 commencing
December 31, 2019 through June 30, 2025 (inclusive) and as noted above this annual interest rate was increased to 3.55% effective June
6, 2022.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series C Deed of Trust includes customary provisions, including (i) a negative pledge such that we may not place a floating charge on
all of our assets, subject to certain exceptions and (ii) an obligation to pay additional interest for failure to maintain certain financial
covenants, with an increase of 0.25% in the annual interest rate for the period in which we do not meet each standard and up to an increase
of 0.5% in the annual interest rate. The Series C Deed of Trust does not restrict our ability to issue any new series of debt instruments,
other than in certain specific circumstances, and enables us to expand the Series C Debentures provided that: (i) we are not in default
of any of the immediate repayment provisions included in the Series C Deed of Trust or in breach of any of our material obligations to
the holders of the Series C Debentures pursuant to the terms of the Series C Deed of Trust, (ii) the expansion will not harm our compliance
with the financial covenants for purposes of the immediate repayment provision included in the Series C Deed of Trust and (iii) to the
extent the Series C Debentures are rated at the time of the expansion, the expansion will not harm the rating of the existing Series
C Debentures.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series C Deed of Trust includes a number of customary causes for immediate repayment, including a default with certain financial covenants
for two consecutive financial quarters, and includes a mechanism for the update of the annual interest rate of the Series C Debentures
in the event we do not meet certain financial covenants. The financial covenants are as follows:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Series C Adjusted Balance Sheet Equity (as such term is defined in the Series C Deed of Trust, which, among other exclusions, excludes
changes in the fair value of hedging transactions of electricity prices, such as the Talasol PPA), on a consolidated basis, shall not
be less than &#8364;50 million for purposes of the immediate repayment provision and shall not be less than &#8364;60 for purposes of the
update of the annual interest provision;</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.55pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
ratio of (a) the short-term and long-term debt from banks, in addition to the debt to holders of debentures issued by us and any other
interest-bearing financial obligations, net of cash and cash equivalents and short-term investments and net of financing of projects,
including hedging transactions in connection with such financing, of our subsidiaries, or, together, the Series C Net Financial Debt,
to (b) our Series C Adjusted Balance Sheet Equity, on a consolidated basis, plus the Net Financial Debt, or our Series C CAP, Net, to
which we refer herein as the Series C Ratio of Net Financial Debt to Series C CAP, Net, shall not exceed the rate of 67.5% for purposes
of the immediate repayment provision and shall not exceed a rate of 60% for purposes of the update of the annual interest provision;
and</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.55pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
ratio of (a) our Series C Net Financial Debt, to (b) our earnings before financial expenses, net, taxes, depreciation and amortization,
where the revenues from our operations, such as the Talmei Yosef PV Plant, are calculated based on the fixed asset model and not based
on the financial asset model (IFRIC 12), and before share-based payments, based on the aggregate four preceding quarters, or our Series
C Adjusted EBITDA, to which we refer to herein as the Series C Ratio of Net Financial Debt to Series C Adjusted EBITDA, shall not be
higher than 12 for purposes of the immediate repayment provision and shall not be higher than 10 for purposes of the update of the annual
interest provision.</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series C Deed of Trust further provides that we may make distributions (as such term is defined in the Companies Law, e.g. dividends),
to our shareholders, provided that: (a) we will not distribute more than 75% of the distributable profit, (b) we will not distribute
dividends based on profit due to revaluation (for the removal of doubt, negative goodwill will not be considered a revaluation profit),
(c) we are in compliance with all of our material undertakings to the holders of the Series C Debentures and (d) on the date of distribution
and after the distribution no cause for immediate repayment exists. We are also required to maintain the following financial ratios (which
are calculated based on the same definitions applicable to the financial covenants set forth above) after the distribution: (i) Series
C Adjusted Balance Sheet Equity not lower than &#8364;70 million, (ii) Series C Ratio of Net Financial Debt to Series C CAP, Net not to
exceed 60%, and (iii) Series C Ratio of Net Financial Debt to Series C Adjusted EBITDA, shall not be higher than 8, and not to make distributions
if we do not meet all of our material obligations to the holders of the Series C Debentures and if on the date of distribution and after
the distribution a cause for immediate repayment exists.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the outstanding amount under the Series C Debentures, net of capitalized expenses, was approximately NIS 286.3
million (approximately &#8364;71.4 million).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
further information concerning the Series C Deed of Trust, see &#8220;Item 10.C: Material Contracts&#8221; and the Series C Deed of Trust
included as Exhibit 4.15 under &#8220;Item 19: Exhibits.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Series
D Convertible Debentures</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
February 23, 2021, we issued NIS 62 million (approximately &#8364;15.6 million, as of the issuance date) of unsecured convertible Series
D Convertible Debentures due December 31, 2026 through a public offering in Israel. The gross proceeds of the offering were approximately
NIS 62.6 million and the net proceeds of the offering, net of related expenses such as consultancy fee and commissions, were approximately
NIS 61.8 million (approximately &#8364;15.6 million as of the issuance date).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series D Convertible Debentures are traded on the TASE.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
principal amount of Series D Convertible Debentures is repayable one installment on December 31, 2026. The Series D Convertible Debentures
bear a fixed interest at the rate of 1.2% per year (that is not linked to the Israeli CPI or otherwise), payable semi-annually on June
30 and December 31 commencing June 30, 2021 through December 31, 2026 (inclusive). The Series D Convertible Debentures are convertible
into our ordinary shares, NIS 10.00 par value per share, at a conversion price of NIS 165 (approximately $50.55, as of the issuance date),
subject to adjustments upon customary terms.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series D Deed of Trust includes customary provisions, including (i) a negative pledge such that we may not place a floating charge on
all of our assets, subject to certain exceptions and (ii) an obligation to pay additional interest for failure to maintain certain financial
covenants, with an increase of 0.25% in the annual interest rate for the period in which we do not meet each standard and up to an increase
of 0.75% in the annual interest rate. The Series D Deed of Trust does not restrict our ability to issue any new series of debt instruments,
other than in certain specific circumstances, and enables us to expand the Series D Convertible Debentures up to an aggregate par value
of NIS 200 million provided that: (i) we are not in default of any of the immediate repayment provisions included in the Series D Deed
of Trust or in breach of any of our material obligations to the holders of the Series D Convertible Debentures pursuant to the terms
of the Series D Deed of Trust, (ii) the expansion will not harm our compliance with the financial covenants for purposes of the immediate
repayment provision included in the Series D Deed of Trust and (iii) to the extent the Series D Convertible Debentures are rated at the
time of the expansion, the expansion will not harm the rating of the existing Series D Convertible Debentures.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series D Deed of Trust includes a number of customary causes for immediate repayment, including a default with certain financial covenants
for the applicable period, and includes a mechanism for the update of the annual interest rate of the Series D Convertible Debentures
in the event we do not meet certain financial covenants. The financial covenants are as follows:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 38.7pt"/><td style="width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            Series D Adjusted Balance Sheet Equity (as such term is defined in the Series D Deed of Trust,
                                            which, among other exclusions, excludes changes in the fair value of hedging transactions
                                            of electricity prices, such as the Talasol PPA), on a consolidated basis, shall not be less
                                            than &#8364;70 million for two consecutive quarters for purposes of the immediate repayment
                                            provision and shall not be less than &#8364;75 for purposes of the update of the annual interest
                                            provision;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 38.7pt"/><td style="width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            ratio of (a) the short-term and long-term debt from banks, in addition to the debt to holders
                                            of debentures issued by us and any other interest-bearing financial obligations provided
                                            by entities who are in the business of lending money (excluding financing of projects and
                                            other exclusions as set forth in the Series D Deed of Trust), net of cash and cash equivalents,
                                            short-term investments, deposits, financial funds and negotiable securities, to the extent
                                            that these are not restricted (with the exception of a restriction for the purpose of securing
                                            any financial debt according to this definition), or, together, the Series D Net Financial
                                            Debt, to (b) our Adjusted Balance Sheet Equity, on a consolidated basis, plus the Series
                                            D Net Financial Debt, or our Series D CAP, Net, to which we refer herein as the Series D
                                            Ratio of Net Financial Debt to Series D CAP, Net, shall not exceed the rate of 68% for three
                                            consecutive quarters for purposes of the immediate repayment provision and shall not exceed
                                            a rate of 60% for purposes of the update of the annual interest provision; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 38.7pt"/><td style="width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            ratio of (a) our Series D Net Financial Debt, to (b) our earnings before financial expenses,
                                            net, taxes, depreciation and amortization, where the revenues from our operations, such as
                                            the Talmei Yosef PV Plant, are calculated based on the fixed asset model and not based on
                                            the financial asset model (IFRIC 12), and before share-based payments, when the data of assets
                                            or projects whose Commercial Operation Date occurred in the four quarters that preceded the
                                            test date will be calculated based on Annual Gross Up (as such terms are defined in the Series
                                            D Deed of Trust), based on the aggregate four preceding quarters, or our Series D Adjusted
                                            EBITDA, to which we refer to herein as the Series D Ratio of Net Financial Debt to Series
                                            D Adjusted EBITDA, shall not be higher than 14 for three consecutive quarters for purposes
                                            of the immediate repayment provision and shall not be higher than 12 for purposes of the
                                            update of the annual interest provision.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series D Deed of Trust includes similar conditions to our ability to make distributions (as such term is defined in the Companies Law,
e.g. dividends), to our shareholders as are included in the Series C Deed of Trust and set forth above. We are also required to maintain
the following financial ratios (which are calculated based on the same definitions applicable to the financial covenants set forth above)
after the distribution: (i) Series D Adjusted Balance Sheet Equity not lower than &#8364;85 million, (ii) Series D Ratio of Net Financial
Debt to Series D CAP, Net not to exceed 60%, and (iii) Series D Ratio of Net Financial Debt to Series D Adjusted EBITDA, shall not be
higher than 9, and not to make distributions if we do not meet all of our material obligations to the holders of the Series D Convertible
Debentures and if on the date of distribution and after the distribution a cause for immediate repayment exists.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the outstanding amount under the Series D Convertible Debentures , net of capitalized expenses, was approximately
NIS 57.9 million (approximately &#8364;14.4 million), net of capitalized expenses.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
further information concerning the Series D Deed of Trust, see &#8220;Item 10.C: Material Contracts&#8221; and the Series D Deed of Trust
included as Exhibit 4.17 under &#8220;Item 19: Exhibits.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
further information concerning the Deed of Trust governing our Series E Secured Debentures, issued on February 1, 2023, see &#8220;Item
4.A: History and Development of Ellomay&#8221; under &#8220;Recent Developments.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Series
E Secured Debentures</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
February 1, 2023, we issued NIS 220 million (approximately &#8364;58.5 million, as of the issuance date) of the Series E Secured Debentures,
due March 31, 2029, through a public offering in Israel. The net proceeds of the offering, net of related expenses such as consultancy
fee and commissions, were approximately NIS 218 million (approximately &#8364;56 million as of the issuance date). The Series E Secured
Debentures are secured by the following pledges:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">i.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
fixed pledge first degree on shares of Ellomay Luzon Energy held by Ellomay Energy LP, representing a 50% ownership of Ellomay Luzon
Energy, which holds 18.75% of Dorad;</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
floating first-degree pledge and an assignment by way of a pledge of, and with respect to, Ellomay Energy LP&#8217;s rights and agreements
in connection with shareholder&#8217;s loans and capital notes provided by Ellomay Energy LP to Ellomay Luzon Energy; and</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iii.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
fixed first-degree pledge on our rights and the rights of Ellomay Energy LP in and to a trust bank account in the name of the trustee
of the Series E Secured Debentures.</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series E Secured Debentures are traded on the TASE.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
principal amount of Series E Secured Debentures is repayable in four equal installments on March 31 from 2026 through 2029 (inclusive).
The Series E Secured Debentures bear a fixed interest at the rate of 6.05% per year (that is not linked to the Israeli CPI or otherwise),
payable semi-annually on March 31 and September 30, commencing March 31, 2023 through March 31, 2029 (inclusive). </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series E Deed of Trust includes customary provisions, including (i) a negative pledge such that we may not place a floating charge on
all of our assets, subject to certain exceptions and (ii) an obligation to pay additional interest for failure to maintain certain financial
covenants, with an increase of 0.25% in the annual interest rate for the period in which we do not meet each standard and up to an increase
of 0.75% in the annual interest rate. The Series E Deed of Trust does not restrict our ability to issue any new series of debt instruments,
other than in certain specific circumstances, and enables us to expand the Series E Secured Debentures provided that: (i) we are not
in default of any of the immediate repayment provisions included in the Series E Deed of Trust or in breach of any of our material obligations
to the holders of the Series E Secured Debentures pursuant to the terms of the Series E Deed of Trust, (ii) the expansion will not harm
our compliance with the financial covenants for purposes of the immediate repayment provision included in the Series E Deed of Trust,
(iii) to the extent the Series E Secured Debentures are rated at the time of the expansion, the expansion will not harm the rating of
the existing Series E Secured Debentures and (iv) the par value of the Series E Secured Debentures may not be higher than NIS 220 million
following the expansion.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series E Deed of Trust includes a number of customary causes for immediate repayment, including a default with certain financial covenants
for the applicable period, and as noted above a mechanism for the update of the annual interest rate in the event we do not meet certain
financial covenants. The financial covenants are as follows:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Series E Adjusted Balance Sheet Equity (as such term is defined in the Series E Deed of Trust, which, among other exclusions, excludes
changes in the fair value of hedging transactions of electricity prices, such as the Talasol PPA), on a consolidated basis, shall not
be less than &#8364;75 million for two consecutive quarters for purposes of the immediate repayment provision and shall not be less than
&#8364;80 million for purposes of the update of the annual interest provision;</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
ratio of (a) the short-term and long-term debt from banks, in addition to the debt to holders of debentures issued by us and any other
interest-bearing financial obligations provided by entities who are in the business of lending money (excluding financing of projects
and other exclusions as set forth in the Series E Deed of Trust), net of cash and cash equivalents, short-term investments, deposits,
financial funds and negotiable securities, to the extent that these are not restricted (with the exception of a restriction for the purpose
of securing any financial debt according to this definition), or, together, the Series E Net Financial Debt, to (b) our Series E Adjusted
Balance Sheet Equity, on a consolidated basis, plus the Series E Net Financial Debt, or our Series E CAP, Net, to which we refer herein
as the Series E Ratio of Net Financial Debt to Series E CAP, Net, shall not exceed the rate of 65% for three consecutive quarters for
purposes of the immediate repayment provision and shall not exceed a rate of 60% for purposes of the update of the annual interest provision;
and</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
ratio of (a) our Series E Net Financial Debt, to (b) our earnings before financial expenses, net, taxes, depreciation and amortization,
where the revenues from our operations, such as the Talmei Yosef PV Plant, are calculated based on the fixed asset model and not based
on the financial asset model (IFRIC 12), and before share-based payments, when the data of assets or projects whose Commercial Operation
Date occurred in the four quarters that preceded the test date will be calculated based on Annual Gross Up (as such terms are defined
in the Series E Deed of Trust), based on the aggregate four preceding quarters, or our Series E Adjusted EBITDA, to which we refer to
herein as the Series E Ratio of Net Financial Debt to Series E Adjusted EBITDA, shall not be higher than 12 for three consecutive quarters
for purposes of the immediate repayment provision and shall not be higher than 11 for purposes of the update of the annual interest provision.</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series E Deed of Trust further provides that we may make distributions (as such term is defined in the Companies Law, e.g. dividends),
to our shareholders, provided that: (a) we will not distribute more than 60% of the distributable profit, (b) we will not distribute
dividends based on profit due to revaluation (for the removal of doubt, negative goodwill will not be considered a revaluation profit),
(c) we are in compliance with all of our material undertakings to the holders of the Series E Secured Debentures, (d) on the date of
distribution and after the distribution no cause for immediate repayment exists and (e) we will not make a distribution for as long as
a &#8220;warning sign&#8221; (as such term is defined in the Israeli Securities Regulations) exists. We are also required to maintain
the following financial ratios (which are calculated based on the same definitions applicable to the financial covenants set forth above)
after the distribution: (i) Series E Adjusted Balance Sheet Equity not lower than &#8364;90 million, (ii) Series E Ratio of Net Financial
Debt to Series E CAP, Net not to exceed 60%, and (iii) Series E Ratio of Net Financial Debt to Series E Adjusted EBITDA, shall not be
higher than 9, and not to make distributions if we do not meet all of our material obligations to the holders of the Series E Secured
Debentures and if on the date of distribution and after the distribution a cause for immediate repayment exists.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series E Deed of Trust includes several limitations and requirements applicable to our holdings in Ellomay Luzon Energy and additional
provisions that may limit our ability to sell our holdings in Ellomay Luzon Energy or to revise arrangements with Ellomay Luzon Energy.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the outstanding amount under the Series E Secured Debentures, net of capitalized expenses, was approximately NIS
217.8 million (approximately &#8364;54.3 million).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
further information concerning the Series E Deed of Trust, see &#8220;Item 10.C: Material Contracts&#8221; and the Series E Deed of Trust
included as Exhibit 4.20 under &#8220;Item 19: Exhibits.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
more information concerning our financing activities, see Note 6, Note 11 and Note 12 to our annual financial statements included elsewhere
in this Report.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cash
Flows</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table summarizes our cash flows for the periods presented:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year ended December 31,</td><td style="padding-bottom: 1.5pt; text-align: center">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Euro in thousands</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: justify">Net cash provided by operating activities	</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">8,604</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">11,320</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Net cash used in investing activities	</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(55,553</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(28,181</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Net cash provided by financing activities	</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">54,433</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">26,510</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Effect of exchange rate fluctuations on cash and cash equivalents	</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(2,387</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(4,420</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Increase in cash and cash equivalents	</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">5,097</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">5,229</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Cash and cash equivalents at the beginning of the year	</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">46,458</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">41,229</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Cash from disposal groups classified as held-for-sale</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(428</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Cash and cash equivalents at the end of the year	</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">51,127</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">46,458</td><td style="text-align: left">&#160;</td></tr>
  </table><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Operating
activities </i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the year ended December 31, 2023, we had net gain of approximately &#8364;0.6 million. Net cash provided by operating activities was approximately
&#8364;8.6 million, which includes increased project development costs mainly due to the advanced development of the photovoltaic portfolio
in Italy, the USA and Israel.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the year ended December 31, 2022, we had net gain of approximately &#8364;0.1 million. Net cash provided by operating activities was approximately
&#8364;11.3 million, which includes a deduction of approximately &#8364;3.3 million due to a non-recurring advance payment of income tax
as per a tax assessment agreement (timing differences of payable income tax) to the Israeli Tax Authority in connection with the Talmei
Yosef PV Plant and increased project development costs mainly due to the advanced development of the photovoltaic portfolio in Italy
and in Israel.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Investing
activities </i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
cash used in investing activities was approximately &#8364;55.6 million in the year ended December 31, 2023, primarily attributable to
investments in the development and construction of renewable energy facilities, including the Manara PSP Project, Ellomay Solar Italy
One SRL and Ellomay Solar Italy Two SRL projects and several PV projects in Italy and in the USA that have reached &#8220;ready to build&#8221;
status.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
cash used in investing activities was approximately &#8364;28.2 million in the year ended December 31, 2022, primarily attributable to
investments in the development and construction of renewable energy facilities, including the Manara PSP Project, Ellomay Solar Italy
One SRL and Ellomay Solar Italy Two SRL projects and the Ellomay Solar PV Plant.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->127<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financing
activities </i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
cash provided by financing activities in the year ended December 31, 2023 was approximately &#8364;54.4 million, derived primarily from
proceeds from the issuance of our Series E Debentures, proceeds from long-term loans, partially offset by repayment of Debentures and
long term loans.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
cash provided by financing activities in the year ended December 31, 2022 was approximately &#8364;26.5 million, derived primarily from
the Talasol refinancing and from loan amounts withdrawn on account of the Manara PSP Project finance.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
more information concerning hedging transactions undertaken in connection with financings granted at EURIBOR linked interest, in connection
with our Debentures, and in connection with our exposure to changes in fair value of our other loans and borrowings, as a result of changes
in the interest rates, see &#8220;Item 11: Quantitative and Qualitative Disclosures About Market Risk.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
2023, we issued our Series E Secured Debentures in a public offering in Israel. For more information see &#8220;General,&#8221; and &#8220;Series
E Secured Debentures&#8221; under &#8220;Other Financing Activities&#8221; and &#8220;Project Finance&#8221; above and Notes 11, 12 and
16 to our financial statements included in this Report.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, we were not in default under any financial covenants pursuant to the agreements set forth above.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, our total current assets amounted to approximately &#8364;93.8 million, of which approximately &#8364;51.1 million
was in cash and cash equivalents, compared with total current liabilities of approximately &#8364;88.6 million.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2022, our total current assets amounted to approximately &#8364;64.7 million, of which approximately &#8364;46.5 million
was in cash and cash equivalents and approximately &#8364;2.8 million was in marketable securities, compared with total current liabilities
of approximately &#8364;91.2 million.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Outstanding
Options</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of March 15, 2024, we had 385,000 Series 1 Options outstanding and 1,020,000 Series 2 Options outstanding. Each Series 1 Option is exercisable
into one Ordinary Share, at an exercise price of NIS 150 (subject to adjustments upon customary terms) by no later than October 15, 2024
and each Series 2 Option is exercisable into one Ordinary Share, at an exercise price of NIS 80 (subject to adjustments upon customary
terms) by no later than January 5, 2028. The Series 1 Options and Series 2 Options are traded on the TASE.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C. Research and Development, Patents and Licenses, etc.</b></span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
did not conduct any research and development activities in the years ended December 31, 2021, 2022 and 2023.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D. Trend Information</b></span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
operate in the Spanish and Italian PV markets, in the Netherlands waste-to-energy market and in the Israeli energy market through our
five PV Plants and the Talasol PV Plant (of which we own 51%) in Spain, our PV Plant in Israel, three WtE plants in the Netherlands,
our ownership of 50% of the issued and outstanding shares of Ellomay Luzon Energy, our ownership of 83.333% of the Manara PSP and through
several other projects under development in Italy, USA, Spain and Israel. Our operating PV Plants are all fully operational and connected
to the relevant national grids. However, as the Ellomay Solar PV Plant was connected to the grid in June 2022, our results for 2021-2023
do not reflect a full three-years of operations of such PR plant.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
business and revenue growth from the markets in which we operate depends, among other factors, on payments received in accordance with
applicable regulation and from the sale of the electricity produced by our plants and on seasonality and availability of raw materials.
Revenue derived from our PV operations tends to be lower in the winter, primarily because of adverse weather conditions. The growth of
our renewable energy business in Spain, the Netherlands, Israel and elsewhere and our other operations are affected significantly by
government subsidies and economic incentives. Dorad&#8217;s revenues are also dependent to an extent on regulation and seasonality.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
business was impacted in recent years by the increase in electricity prices throughout Europe, and specifically in Spain, mainly due
to the increase in prices of natural gas, caused by increasing demand for electricity and by the military conflict between Russia and
Ukraine. The impact of the increase in electricity prices on our financial results was mitigated by regulation in Spain that increased
operating expenses of certain renewable energy manufacturers. Furthermore, the increase in electricity prices did not affect the portion
of the electricity produced by our facilities that is subject to a PPA. Electricity prices have decreased in recent months but remain
at a high level compared to prices in early 2021. The military conflict between Russia and Ukraine also contributed to a disruption in
supply chains of certain materials, including materials comprising the feedstock used by our biogas facilities in the Netherlands and
an increase in delivery prices, mainly due to an increase in the price of fuel. In addition, supply chain disruptions and shortages of
raw materials caused by Covid-19 continue to impact the prices of equipment required for building of our PV facilities (including solar
panels).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, our ability to continue to leverage the investment in these markets, may affect the profitability of past and future transactions.
In recent years, the capital markets have experienced an increase in interest rates, which also impacts our ability to raise the capital
required for the implementation of our business plan, a continued increase in interest rates could limit the capital available to us,
on acceptable terms or at all.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
more information see &#8220;Item&#160;3.D: Risk Factors&#160;&#8211; Risks Related to our Renewable Energy Operations,&#8221; &#8220;Item&#160;3.D:
Risk Factors&#160;&#8211; Risks Related to our Investment in Ellomay Luzon Energy,&#8221; and &#8220;Item 4.B: Business Overview.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>E. Critical Accounting Estimates</b></span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
financial statements have been prepared in accordance with International Financial Reporting Standards, or IFRS, as issued by the IASB,
which differ in certain significant respects from U.S. Generally Accepted Accounting Principles, or U.S. GAAP.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
accounting principles require us to make certain estimates, judgments and assumptions that affect the reported amounts recognized in
our financial statements. However, uncertainty about these assumptions and estimates could result in outcomes that require a
material adjustment to the carrying amount of the asset or liability affected in future periods. Estimates and underlying
assumptions are reviewed on an ongoing basis. The changes in accounting estimates are recognized in the period of the change in
estimate. Our significant accounting policies are described in Notes 2 and 3 to our consolidated financial statements included
elsewhere in this Report.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><div><a id="aa_011"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
6: Directors, Senior Management and Employees</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A. Directors and Senior Management</b></span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Directors
and Senior Management</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth certain information with respect to our directors and senior management, as of March 31, 2024:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="border-bottom: Black 1.5pt solid; text-align: left; width: 28%"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></p></td>
    <td style="padding-bottom: 1.5pt; text-align: center; width: 1%">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: center; width: 10%"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Age</b></span></p></td>
    <td style="padding-bottom: 1.5pt; text-align: center; width: 1%">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left; width: 60%"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Position
    with Ellomay</b></span></p></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shlomo
    Nehama<sup>(1)(2)</sup></span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">69</span></td>
    <td>&#160;</td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman
    of the Board of Directors</span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ran
    Fridrich<sup>(1)(2)</sup></span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">71</span></td>
    <td>&#160;</td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
    and Chief Executive Officer</span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anita
    Leviant<sup>(1)(3)(4)</sup></span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">69
    </span></td>
    <td>&#160;</td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
    </span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ehud
    Gil<sup>(1)</sup></span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">49</span></td>
    <td>&#160;</td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Daniel
    Vaknin<sup>(3)(4)(5)</sup></span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">68</span></td>
    <td>&#160;</td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorit
    Ben Simon<sup>(3)(4)(5)</sup></span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">56</span></td>
    <td>&#160;</td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kalia
    Rubenbach</span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">45</span></td>
    <td>&#160;</td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Financial Officer</span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ori
    Rosenzweig</span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">47</span></td>
    <td>&#160;</td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Investment Officer</span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yehuda
    Saban</span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">45</span></td>
    <td>&#160;</td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
    of Operations for Israel and EVP of Business Development</span></td></tr>
  </table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><p style="margin-top: 0; margin-bottom: 0"></p><div>

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</div><p style="margin-top: 0; margin-bottom: 0"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Election
                                            supported by certain of our major shareholders pursuant to the Shareholders Agreement, dated
                                            as of March 24, 2008, between S. Nechama Investments (2008) Ltd. and Kanir Joint Investments
                                            (2005) Limited Partnership (See &#8220;Item 7.A: Major Shareholders&#8221;).</span></td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provides
                                            management services to the Company pursuant to the Management Services Agreement (See &#8220;Item
                                            6.B: Compensation&#8221;).</span></td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent
                                            Director pursuant to the NYSE American LLC rules.</span></td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Member
                                            of our Audit and Compensation Committees.</span></td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">External
                                            Director pursuant to the Companies Law.</span></td></tr></table><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
address of each of our executive officers and directors is c/o Ellomay Capital Ltd., 18 Rothschild Boulevard, 1<sup>st</sup> floor, Tel
Aviv 6688121, Israel.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Shlomo
Nehama </i>has served as a director and Chairman of the Board of Ellomay since March 2008. From 1998 to 2007, Mr. Nehama served as the
Chairman of the Board of Bank Hapoalim B.M., one of the largest Israeli banks. In 1997, together with the late Ted Arison, he organized
a group of American and Israeli investors who purchased Bank Hapoalim from the State of Israel. From 1992 to 2006, Mr. Nehama served
as the Chief Executive Officer of Arison Investments. From 1982 to 1992, Mr. Nehama was a partner and joint managing director of Eshed
Engineers, a management consulting firm. He also serves as a director in several philanthropic academic institutions, on a voluntary
basis. Mr. Nehama is a graduate of the Technion - Institute of Technology in Haifa, Israel, where he earned a degree in Industrial Management
and Engineering. Mr. Nehama received an honorary doctorate from the Technion for his contribution to the strengthening of the Israeli
economy.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Ran
Fridrich</i>&#160;has served as a director of Ellomay since March 2008, as our interim chief executive officer since January 2009, and
as our chief executive officer since December 2009. Mr. Fridrich is the co-founder and executive director of Oristan, Investment Manager,
an investment manager of CDO Equity and Mezzanine Funds and a Distress Fund, established in June 2004. In January 2001 Mr. Fridrich founded
the Proprietary Investment Advisory, an entity focused on fixed income securities, CDO investments and credit default swap transactions,
and served as its investment advisor through January 2004. Prior to that, Mr. Fridrich served as the chief executive officer of two packaging
and printing Israeli companies, Lito Ziv, a public company, from 1999 until 2001 and Mirkam Packaging Ltd. from 1983 until 1999. Mr.
Fridrich also serves as a director of the Plasto-Cargal Group Ltd. (TASE: PLCR) since September 2002. Mr. Fridrich is a graduate of the
Senior Executive Program of Tel Aviv University.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Anita
Leviant&#160;</i>has served as a director of Ellomay since March 2008. Ms. Leviant heads LA Global Consulting, a practice specializing
in representing and consulting global oriented companies in Cross Border and financial transactions, banking and Capital Markets. LAGC
represents and consults investors and corporations on business and regulatory issues, in Fintech,&#160;Cyber and sustainable&#160;investments.
LAGC provides soft landing for overseas business in Israel and in the UK. For a period of twenty years, Ms. Leviant held several senior
positions with Hapoalim Banking group including EVP Deputy Head of Hapoalim Europe and Global Private Banking and EVP General Global
Counsel of the Group and served as a director in the overseas subsidiaries. Prior to that, Ms. Leviant was an associate in GAFNI &amp;
CO. Law Offices in Tel Aviv where she specialized in Liquidation, Receivership and Commercial Law and was also a Research Assistant to
the Law School Dean in the Tel Aviv University specialized in Private International Law. Ms. Leviant holds a LL.B degree from Tel Aviv
University Law School and is a member of both the Israeli and the New York State Bars. Ms. Leviant also serves as President of the Israel-British
Chamber of Commerce &amp;Innovations, Board Member of the Federation of Bi-Lateral Chambers of Commerce and a Co-Founder of the Center
for Arbitration and Dispute Resolutions. Ms. Leviant is a certified mediator.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Ehud
Gil</i> has served as a director of Ellomay since November 12, 2020. Mr. Gil is an entrepreneur in the intersection of security and technology,
and a consultant to the Israeli Ministry of Defense. In 2018, Mr. Gil retired from the Israeli Defense Forces, or IDF, at the rank of
Lieutenant-Colonel. Prior to his retirement from the IDF, Mr. Gil held various key managerial positions in the IDF and the Israeli Ministry
of Defense, including Head of Planning and Control Branch, Head of Training Branch in the General Headquarters of the IDF, and Director
of Projects for the IDF. Mr. Gil holds an M.Ed. (with honors) in Management and Organization of Education Systems from the University
of Haifa and a B.Sc. in Materials Engineering from the Ben-Gurion University of the Negev. As indicated below, Mr. Gil is the brother
of Ms. Anat Raphael.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Daniel
Vaknin</i> has served as an external director of Ellomay since December 20, 2020. Mr. Vaknin is a financial consultant. Mr. Vaknin currently
serves on the Board of Directors of Clal Insurance Company Ltd., Ilex Medical Ltd. (TASE: ILX), Arad Ltd. (TASE: ARD) and Kardan Israel
Ltd. (TASE: KRDI) and served on the Board of Directors of Global Wings Leasing Ltd. (TASE: GKL) until 2020. From 2007 to 2011 Mr. Vaknin
served as Chief Executive Officer of Israel Financial Levers Ltd. From 2005 to 2007 Mr. Vaknin served as the Chief Executive Officer
of Phoenix Investments and Finance Ltd. From 2004 to 2005 Mr. Vaknin served as the Vice Chief Executive Officer of I.D.B Development
Company Ltd. Prior to that Mr. Vaknin was a Senior Partner at Kesselman &amp; Kesselman C.P.A.s, a member firm of PricewaterhouseCoopers
International Limited. Mr. Vaknin is a CPA and holds a BA in Economics and Accounting from the Hebrew University in Jerusalem.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>Dorit
Ben Simon</i> has served as an external director of Ellomay since December 20, 2023. Ms. Ban Simon serves as the Founder &amp; Managing
Partner of BSS Capital and as a President of IFI, the primary educational entity for the local financial services industry. Ms. Ben Simon
previously served as a CFO and Group Chief Risk Officer (CRO) at Israel Discount Bank (2006-2011). Prior to Discount Bank, Ms. Ben Simon
was CEO of Gmulot, the leading asset management company in Israel and a subsidiary of Bank Hapoalim (2001-2006). Ms. Ben Simon serves
as an external director of Massivit 3D Printing Technologies Ltd. (TASE: MSVT) since 2021 and served as an independent director of Meshek
Energy-Renewable Energies Ltd. (TASE: MSKE) from 2020 to 2022, Energix-Renewable Energies Ltd. (TASE: ENRG) from 2012 to 2018 and Knafaim
Holdings Ltd. (TASE: KNFM) from 2012 to 2018. Ms. Ben Simon holds an M.B.A in Finance and Banking and a B.A in Economy and General Studies,
both from the Hebrew University in Jerusalem.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Kalia
(Weintraub) Rubenbach</i> has served as our chief financial officer since January 2009. Prior to her appointment as our chief financial
officer, Ms. Rubenbach served as our corporate controller from January 2007 and was responsible, among her other duties, for the preparation
of all financial reports. Prior to joining Ellomay, she worked as a certified public accountant in the AABS High-Tech practice division
of the Israeli accounting firm of Kost Forer Gabbay &amp; Kasierer, an affiliate of the international public accounting firm Ernst &amp;
Young, from 2005 through 2007 and in the audit division of the Israeli accounting firm of Brightman Almagor Zohar, an affiliate of the
international public accounting firm Deloitte, from 2003 to 2004. Ms. Rubenbach holds a B.A. in Economics and Accounting and an M.B.A.
from the Tel Aviv University and is licensed as a CPA in Israel.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Ori
Rosenzweig </i>has served as our Chief Investment Officer since November 2014. Prior to joining Ellomay, Mr. Rosenzweig was the head
of Cash Management at Bank Leumi Le-Israel B.M. (TASE: LUMI), one of Israel&#8217;s largest banks, from 2013 through 2014, the VP Finance
at AFI Investments, one of the largest international real-estate developers in Israel (TASE: AFIL) from 2009 through 2013 and a senior
manager at GSE financial consulting from 2002 through 2008. Mr. Rosenzweig holds a MBA degree from the Tel Aviv University and a BA degree
in business and international relations from the Hebrew University.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Yehuda
Saban</i> has served as our Director of Operations for Israel and EVP of Business Development since April 2019. Mr. Saban served between
2011- mid 2015 as Executive Vice President Economics &amp; Regulation at Delek Drilling, the biggest oil and gas company in Israel. Previously,
Mr. Saban served over six years in various capacities with the budget department of the Israeli Ministry of Finance as Manager of the
Telecommunications and Tourism unit, Manager of the Budget and Macroeconomics unit and as an economist in the Energy unit. During those
years, Mr. Saban was also an active partner in a number of committees and authorities in the energy, telecommunications and infrastructure
fields. Mr. Saban serves as a member of the board of directors of Partner Communications Ltd. (NASDAQ and TASE: PTNR, one of the biggest
telecommunication companies in Israel) and served till 2021 on the board of Israel Opportunity Energy Resources LP (TASE: ISOP) and as
chairman of its compensation and audit committee since June 2015. Prior to joining Ellomay, Mr. Saban managed projects and business development
for Hutchinson Water between the years 2015-2017. Mr. Saban holds a B.A. in Economics &amp; Business Management (graduated with great
honors) and an M.B.A specializing in Financing, both from the Hebrew University in Jerusalem.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
are no family relationships among any of the directors or members of senior management named above. Mr. Gil is the brother of Ms. Anat
Raphael, who is one of the board members and a shareholder of Kanir Ltd., the general partner of Kanir Joint Investments (2005) Limited
Partnership, and the widow of the late Mr. Raphael, a former member of our Board of Directors.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
December 19, 2023, Dr. Michael J. Anghel, our former external director and chairman of our Audit and Compensation Committees, resigned
his position for personal reasons and was replaced by Ms. Dorit Ben Simon who was elected as external director at our annual general
meeting of shareholders held on December 11, 2023, or the 2023 Shareholders Meeting.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="margin: 0"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B. Compensation</b></span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>General</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Salaries,
fees, commissions, share compensation and bonuses paid or accrued with respect to all of our directors and senior management as a group
in the fiscal year ended December 31, 2023 was approximately &#8364;0.96 million, including an amount of approximately &#8364;0.1 million
related to pension, retirement and other similar benefits. These figures do not include the compensation of Messrs. Shlomo Nehama, or
Chairman of the Board, and Ran Fridrich, our Chief Executive Officer and a member of our Board, who are both compensated pursuant to
the Management Services Agreement (see &#8220;Item 7.B: Related Party Transactions&#8221; below) and have, in connection with such agreement,
waived their right to receive the compensation, including options, paid to our other directors.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
table below reflects the terms of service and employment of our five most highly compensated &#8220;office holders&#8221; (as such term
is defined in the Companies Law) during or with respect to the year ended December 31, 2023. All amounts reported in the table below
are as recognized in our financial statements for the year ended December 31, 2023.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">27</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">27</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">267</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">27</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">265</td><td style="text-align: left">&#160;</td></tr>
  </table><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Salary
and related benefits are paid to our executive officers in NIS. Salary as reported herein includes the recipient&#8217;s gross salary
plus payment of social and other benefits made by us to or on behalf of the recipient. Such benefits may include, to the extent applicable,
payments, contributions and/or allocations for education funds, pension funds, managers&#8217; insurance, severance, risk insurances
(e.g., life, or work disability insurance), social security, tax gross-up payments, vacation, car, phone, convalescence pay and other
benefits and perquisites consistent with our policies.</span></td>
</tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0in"/><td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
the share-based compensation expenses recorded in our consolidated financial statements for the year ended December 31, 2023, based on
the Share-based Compensation fair value, calculated in accordance with accounting guidance for share-based compensation. For a discussion
of the assumptions used in reaching this valuation, see Note 16 to our annual financial statements.</span></td>
</tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0in"/><td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Such
amounts are paid pursuant to the terms of the Management Services Agreement. For additional information, see &#8220;Management Services
Agreement&#8221; below.</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
more information concerning option grants to office holders see &#8220;Item 6.E: Share Ownership.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Management
Services Agreement</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
December 2008, following the approval of our Audit Committee, Board of Directors and shareholders, we entered into a Management Services
Agreement, or the Prior Management Services Agreement, with Kanir and with Meisaf Blue &amp; White Holdings Ltd., or Meisaf, a private
company controlled by Shlomo Nehama, effective as of March 31, 2008, the date of appointment of Messrs. Fridrich and Nehama as members
of our Board. The initial aggregate annual consideration paid to Kanir and Meisaf pursuant to the Prior Management Services Agreement
was an amount of $250,000 plus value added tax pursuant to applicable law, paid in equal parts. This aggregate annual amount was increased
to $400,000 in 2013.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
our annual shareholders meeting held on August 12, 2021, or the 2021 Shareholders Meeting, our shareholders approved, following the approval
by our Audit and Compensation Committee and Board of Directors, an Amended and Restated Management Services Agreement, effective July
1, 2021, which provides, among other things, for the payment of NIS 1.386 million (approximately &#8364;0.347 million) per year to Meisaf
in consideration for the services provided by Meisaf, including the service of Mr. Nehama as our Chairman of the Board in no less than
a 77% position and the payment of NIS 1.8 million (approximately &#8364;0.45 million) per year to Kanir and Keystone R.P. Holdings and
Investments Ltd., a private company wholly-owned by Mr. Ran Fridrich, or Keystone (in an initial allocation of NIS 0.66 million to Kanir
and NIS 1.14 million to Keystone) in consideration for service provided by these entities, including the service of Mr. Fridrich as our
Chief Executive Officer and a director. For more information see &#8220;Item 7.B: Related Party Transactions.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Compensation
of Non-Executive Directors</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
approved by our shareholders, we pay our non-executive directors (Anita Leviant, Daniel Vaknin, Dorit Ben Simon and Ehud Gil) remuneration
for their services as directors. These directors are paid in accordance with the Companies Regulations (Rules for Compensation and Expenses
of External Directors), 5760-2000, or the Compensation Regulations. The Compensation Regulations set forth a range of fees that may be
paid by Israeli public companies to their external directors, depending upon each company&#8217;s equity based on the most recent financial
statements. The cash amounts paid to our external directors pursuant to the Compensation Regulations, as approved by our shareholders,
are the average between the minimum amount and the fixed amount permitted by the Compensation Regulations for companies that are in the
range of shareholders&#8217; equity of the Company, which currently amount to an annual fee of NIS 67,690 (equivalent to approximately
&#8364;16,874 based on the average EUR/NIS exchange rates during 2023) and an attendance fee of NIS 2,465 (equivalent to approximately
&#8364;614 based on the average EUR/NIS exchange rates during 2023) per meeting (board or committee). These amounts are updated once a
year based on increases in the Israeli Consumer Price Index. According to the Compensation Regulations, which we apply to all our non-executive
directors, the directors are entitled to 60% of the meeting fee if they participated at the meeting by teleconference and not in person,
and to 50% of the meeting fee if resolutions were approved in writing, without convening a meeting.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
of these non-executive directors also receives an annual grant of options to purchase 1,000 ordinary shares under the terms and conditions
set forth in our 1998 Share Option Plan for Non-Employee Directors, or the 1998 Plan. The 1998 Plan provides for grants of options to
purchase ordinary shares to our non-employee directors. The 1998 Plan, as amended, is administered, subject to Board approval, by the
Compensation Committee and our Board. An aggregate amount of not more than 75,000 ordinary shares is reserved for grants under the 1998
Plan. The term of the 1998 Plan has been extended to December 8, 2028, unless earlier terminated by our Board.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the 1998 Plan, each non-employee director that served on the 1998 &#8220;Grant Date,&#8221; as defined below, automatically received
an option to purchase 1,000 ordinary shares on such Grant Date and will receive an option to purchase an additional 1,000 ordinary shares
on each subsequent Grant Date thereafter, provided that he or she is a non-employee director on the Grant Date and has remained a non-employee
director for the entire period since the previous Grant Date. The &#8220;Grant Date&#8221; means August 1 of each year. Directors first
elected or appointed after the 1998 Grant Date, will automatically receive on such director&#8217;s first day as a director an option
to purchase up to 1,000 ordinary shares pro-rated based on the number of full months of service between the prior Grant Date and the
next Grant Date. Each such non-employee director would also automatically receive, on each subsequent Grant Date, an option to purchase
1,000 ordinary shares provided that he or she is a non-employee director on the Grant Date and has served as a non-employee director
for the entire period since his or her previous Grant Date.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
exercise price of the option shares under the 1998 Plan is 100% of the fair market of such ordinary shares at the applicable Grant Date.
The exercise price is required to be paid in cash.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
term of each option granted under the 1998 Plan is 10 years from the applicable date of grant and such options may be terminated earlier
upon certain circumstances, such as the expiration of three months from the date of the director&#8217;s termination of service on our
Board (subject to extension and certain exceptions pursuant to the terms of the 1998 Plan). Currently, the options granted to non-employee
directors vest in one installment on the first anniversary of the grant date of the options.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
options granted are subject to restrictions on transfer, sale or hypothecation. All options and ordinary shares issuable upon the exercise
of options granted to our non-employee directors could be withheld until the payment of taxes due (if any) with respect to the grant
and exercise of such options.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
more information concerning our share option plans and options granted to directors and an executive officer see &#8220;Item 6.E: Share
Ownership.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Compensation
Policy and Approval Process of Directors&#8217; and Officers&#8217; Terms of Service and Employment</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Companies Law regulates the approval process of arrangements with &#8220;office holders&#8221; as to their terms of service or employment,
including the grant of an exemption, insurance, undertaking to indemnify or indemnification, retirement bonuses and any other benefit,
payment or undertaking to pay any such amounts, given due to service or employment, or together, the Terms of Service and Employment.
An &#8220;office holder&#8221; is defined under the Companies Law as a general manager, chief business manager, vice general manager,
any other person assuming the responsibilities of any of the foregoing positions without regard to such person&#8217;s title, and a director,
or manager directly subordinate to the general manager. Each person identified as a director or member of our senior management in the
first table in this Item is an office holder.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Compensation
Policy</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Companies Law requires the board of directors of a public company to adopt a policy with respect to the Terms of Service and Employment
of office holders, after taking into consideration the recommendations of the compensation committee. The Companies Law further provides
for the approval of the compensation policy by the company&#8217;s shareholders with a &#8220;special majority&#8221; requirement, i.e.
the affirmative vote of the holders of a majority of the shares present, in person or by proxy, and voting on the matter provided that
at least one of the following conditions is met: (i) the shares voting in favor of the matter include at least a majority of the shares
voted by shareholders who are not controlling shareholders and who do not have a personal interest in the approval of the compensation
policy (or the transaction, as the case may be) or (ii) the total number of shares voted against the compensation policy by shareholders
referenced under (i) does not exceed 2% of the company&#8217;s outstanding voting rights.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
compensation policy for a period exceeding three years is required to go through the complete approval process once every three years.
In addition, the board of directors is required to periodically examine the compensation policy and the need for adjustments based on
the considerations in determining a compensation policy in the event of a material change in the circumstances prevailing during the
adoption of the compensation policy or for other reasons.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
the 2023 Shareholders Meeting, our shareholders approved our amended compensation policy, or the Compensation Policy.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Compensation Policy is designed to support the achievement of our long term work plan goals and ensure that: (i) officer&#8217;s interests
are as closely as possible aligned with the interests of our shareholders; (ii) the correlation between pay and performance will be enhanced;
(iii) we will be able to recruit and retain top level senior managers capable of leading us to further business success and facing the
challenges ahead; (iv) officers will be motivated to achieve a high level of business performance without taking unreasonable risks;
and (v) an appropriate balance will be established between different compensation elements &#8211; fixed vs. variable, short term vs.
long term and cash payments vs. equity based compensation. Our Compensation Policy is filed by us as Exhibit 4.5 under &#8220;Item 19:
Exhibits.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Approval
Process of Terms of Service and Employment of Office Holders</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Companies Law provides that the process for approval of Terms of Service and Employment of office holders, that are required to be for
the benefit of the company, is as follows:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
                                            respect to our chief executive officer, a controlling shareholder or a relative of a controlling
                                            shareholder, approval is required by the (i) compensation committee, (ii) board of directors
                                            and (iii) company&#8217;s shareholders with the &#8220;special majority&#8221; described
                                            above (in that order). Subject to certain conditions, the Israeli Companies Law provides
                                            an exemption from the shareholder approval requirement in connection with the approval of
                                            the Terms of Service and Employment of a CEO candidate.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
                                            respect to a director, approval is required by the (i) compensation committee, (ii) board
                                            of directors and (iii) company&#8217;s shareholders with a regular majority (in that order).</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
                                            respect to any other office holder, approval is required by the compensation committee and
                                            the board of directors (in that order); however, in the event of an update of existing Terms
                                            of Service and Employment, which the Compensation Committee confirms is not material, the
                                            approval of the compensation committee is sufficient.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the event the transaction with any office holder is not in accordance with the compensation policy, the approval of the company&#8217;s
shareholders, by &#8220;special majority,&#8221; is also required. In the event the company&#8217;s shareholders do not approve the compensation
of the CEO or other office holders (who are not directors, controlling shareholders or relatives of the controlling shareholders), the
compensation committee and board of directors may, in special situations, approve the transaction, subject to their providing detailed
reasons and after discussion and examination of the rejection by the company&#8217;s shareholders. The Companies Regulations (Relief
in Related Party Transactions), 2000, promulgated under the Companies Law, or the Relief Regulations, provide additional temporary or
permanent relief from the shareholder approval requirement under certain circumstances.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Clawback
Policy</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
October 30, 2023, we adopted a Clawback Policy based on the SEC requirements for NYSE American listed companies. This policy is included
as Exhibit 97.1 under &#8220;Item 19: Exhibits.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C. Board Practices</b></span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are a &#8220;controlled company&#8221; as defined in Section 801 of the NYSE American LLC Company Guide. As a result, we are exempt from
certain of the NYSE American LLC corporate governance requirements, including the requirement that a majority of the board of directors
be independent, the requirement applicable to the nomination process of directors and the requirements applicable to the determination
or recommendation of executive compensation by a committee comprised of independent directors or by a majority of the independent directors
and the additional requirements concerning compensation committee independence, compensation advisor engagement and independence. If
the &#8220;controlled company&#8221; exemption would cease to be available to us under the NYSE American LLC Company Guide, we may instead
elect to follow Israeli law (&#8220;home country law&#8221;), which we currently follow, with respect to these matters. For more information
see &#8220;Item 16.G: Corporate Governance.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">According
to the provisions of our Second Amended and Restated Articles, or the Articles, and the Companies Law, our Board convenes in accordance
with our requirements, and is required to convene at least once every three months. Furthermore, the Companies Law provides that the
board of directors may also adopt resolutions without actually convening, provided that all the directors entitled to participate in
the discussion and vote on a matter that is brought for resolution agree not to convene for discussion of the matter.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
chief executive officer serves at the discretion of the board of directors.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Terms
of Directors</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Board currently consists of six members, including two external directors. Pursuant to our Articles, unless otherwise prescribed by resolution
adopted at a general meeting of our shareholders, our Board shall consist of not less than four (4) nor more than eight (8) directors
(including the external directors). Except for our two external directors, the members of our Board are elected annually at our annual
shareholders&#8217; meeting and remain in office until the next annual shareholders&#8217; meeting, unless the director has previously
resigned, vacated his office, or was removed in accordance with the Articles. Our most recent annual meeting (the 2023 Shareholders Meeting),
was held on December 11, 2023. Our Board, by unanimous approval of all directors then in office, may at any time appoint any person to
serve as director as replacement for a vacated office or in order to increase the number of directors, subject to the condition that
the number of directors shall not exceed the maximum established in the Articles. Any so appointed director shall remain in office until
the next Annual Meeting, at which he may be reelected.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the Companies Regulations (Relief for Companies whose Securities are Listed for Trading on a Stock exchange Outside of Israel), 2000,
one or more shareholders holding at least 5% of the voting rights at the general meeting may request the Board of Directors to include
the election of a nominee director or the removal of a director from office on the agenda of a future shareholders&#8217; meeting.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
members of our Board do not receive additional remuneration upon termination of their services as directors.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><b>&#160;</b></i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>External
Directors</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are subject to the provisions of the Companies Law, which requires that we, as a public company, have at least two external directors.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the Companies Law, a person may not be appointed as an external director if he or his relative, partner, employer or any entity under
his control has or had during the two years preceding the date of appointment any affiliation with the company, any entity controlling
the company or any entity controlled by the company or by this controlling entity or, in a company that does not have a controlling shareholder,
in the event that he has affiliation, at the time of his appointment, to the chairman of the board, chief executive officer, a 5% shareholder
or the highest ranking officer in the financial field. The term &#8220;affiliation&#8221; includes: an employment relationship, a business
or professional relationship maintained on a regular basis, control, and service as an office holder. No person can serve as an external
director if the person&#8217;s position or other business creates, or may create, conflicts of interest with the person&#8217;s responsibilities
as an external director, or if the person is an employee of the Israel Securities Authority or of an Israeli stock exchange. In addition,
an individual may not be appointed as an external director if she or he, or her or his relative, partner, employer, supervisor, or an
entity she or he controls, has other than negligible business or professional relations with any of the persons with which the external
director may not be affiliated, even if such relations are not routine, or if she or he received any consideration, directly or indirectly,
in addition to the remuneration to which she or he are entitled and to reimbursement of expenses, for acting as a director in the company.
The Compensation Regulations set the range of compensation and the terms of other compensation that may be paid to statutory external
directors.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the Companies Law, the election of an external director for the initial term requires the affirmative vote of a majority of the shares
present, in person or by proxy, and voting on the matter, provided that either: (i) at least a majority of the shares of non-controlling
shareholders and shareholders who do not have a personal interest in the resolution (excluding a personal interest that is not related
to a relationship with the controlling shareholders) are voted in favor of the election of the external director, or (ii) the total number
of shares of non-controlling shareholders and of shareholders who do not have a personal interest in the resolution (excluding a personal
interest that is not related to a relationship with the controlling shareholders) voted against the election of the external director
does not exceed two percent of the outstanding voting power in the company.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
initial term of an external director is three years. An external director may be re-elected to serve for two additional three-year terms
in one of the two following methods: (i) the board of directors proposed the nomination of the external director for an additional term
and her or his appointment is approved by the shareholders in the manner required to appoint external directors for an initial term as
set forth above, or (ii) in the event a shareholder holding 1% or more of the voting rights nominates the external director for an additional
term or in the event the external director nominates himself or herself for an additional term, the nomination is required to be approved
by a majority of the votes cast by the shareholders of the company; provided that: (x) the votes of controlling shareholders, the votes
of shareholders who have a personal interest in the approval of the appointment of the external director, other than a personal interest
that is not as a result of such shareholder&#8217;s connections to the controlling shareholder, and abstaining votes are excluded from
the counting of votes and (y) the aggregate votes cast by shareholders in favor of the nomination that are counted for purposes of calculating
the majority exceeds two percent of the voting rights in the company. The external director nominated by shareholders may not be a related
or competing shareholder or a relative of such shareholder at the date of appointment and may not have an affiliation to a related or
competing shareholder at the date of appointment or for the two-year period prior to the appointment. A &#8220;related or competing shareholder&#8221;
is defined by the Companies Law as the shareholder that proposed the nomination or a significant shareholder (a shareholder holding five
percent or more of the outstanding shares of a company or of the voting rights in a company), provided that at the date of appointment
of the external director such shareholder, its controlling shareholder or a corporation controlled by either of them, have business connections
with the company or are competitors of the company. The term &#8220;affiliation&#8221; is defined as set forth above. In addition, Israeli
companies listed on certain stock exchanges outside Israel, including the NYSE American LLC, such as our company, may appoint an external
director for additional terms of not more than three years each subject to certain conditions. Such conditions include the determination
by the audit committee and board of directors, that in view of the external director&#8217;s professional expertise and special contribution
to the company&#8217;s board of directors and its committees, the appointment of the external director for an additional term is in the
best interest of the company.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
the external directors of a company must be members of its audit committee and compensation committee and at least one external director
is required to serve on every committee authorized to exercise any of the powers of the board of directors. Our external directors are
currently Daniel Vaknin and Dorit Ben Simon.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the Companies Law an external director cannot be dismissed from office unless: (i) the board of directors determines that the external
director no longer meets the statutory requirements for holding the office, or that the external director is in breach of the external
director&#8217;s fiduciary duties and the shareholders vote, by the same majority required for the appointment, to remove the external
director after the external director has been given the opportunity to present his or her position; (ii) a court determines, upon a request
of a director or a shareholder, that the external director no longer meets the statutory requirements of an external director or that
the external director is in breach of his or her fiduciary duties to the company; or (iii) a court determines, upon a request of the
company or a director, shareholder or creditor of the company, that the external director is unable to fulfill his or her duty or has
been convicted of specified crimes. For a period of two years following the termination of services as an external director, the company,
its controlling shareholder and any entity the controlling shareholder controls may not provide any benefit to such former external director,
directly or indirectly. The prohibited benefits include the appointment as an office holder in the company or the controlled entity,
employment of, or receipt of professional services from, the former external director for compensation, including through an entity such
former external director controls. The same prohibition applies to the former external director&#8217;s spouse and child for the same
two-year period and to other relatives of the external director for a period of one year following the termination of services as an
external director.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Companies Law requires that at least one of the external directors have &#8220;Accounting and Financial Expertise&#8221; and the other
external directors have &#8220;Professional Competence.&#8221; Under the applicable regulations, a director having accounting and financial
expertise is a person who, due to his or her education, experience and talents is highly skilled in respect of, and understands, business-accounting
matters and financial reports in a manner that enables him or her to understand in depth the company&#8217;s financial statements and
to stimulate discussion regarding the manner in which the financial data is presented. Under the applicable regulations, a director having
professional competence is a person who has an academic degree in either economics, business administration, accounting, law or public
administration or an academic degree in an area relevant to the company&#8217;s business, or has at least five years&#8217; experience
in a senior position in the business management of a corporation with a substantial scope of business, in a senior position in the public
service or a senior position in the field of the company&#8217;s main business. Our Board determined that both Daniel Vaknin and Dorit
Ben Simon have the requisite accounting and financial expertise.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Board further determined that at least two directors out of the whole Board shall be required to have accounting and financial expertise
pursuant to the requirements of the Companies Law and previously determined that Shlomo Nehama shall be designated as an additional accounting
and financial expert.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Independent
Directors Pursuant to the Companies Law</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition to the external director, the Companies Law includes another category of directors, which is the &#8220;independent&#8221; director.
An independent director is either an external director or a director appointed or classified as such who meets the same non-affiliation
criteria as an external director, as determined by the company&#8217;s audit committee, and who has not served as a director of the company
for more than nine consecutive years (subject to the right granted to certain companies, including companies whose shares are listed
on the NYSE American LLC, to permit independent directors to serve as such for periods exceeding nine years). For these purposes, ceasing
to serve as a director for a period of two years or less would not be deemed to sever the consecutive nature of such director&#8217;s
service.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the Companies Law, we, as a public company, may include in our articles of association a provision providing that a specified number
of our directors be independent directors or may adopt a standard provision providing that a majority of our directors be independent
directors or, if there is a controlling shareholder or a 25% or more shareholder, that at least one-third of our directors be independent
directors. We have not included a provision requiring that a certain percentage of the members of our Board be independent directors.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Independent
Directors pursuant to the NYSE American LLC Requirements</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
general, the NYSE American LLC Company Guide requires that a NYSE American LLC listed company have a majority of independent directors,
as defined under the NYSE American LLC Company Guide, on its board of directors. Because we are a &#8220;controlled company&#8221; as
defined in Section 801 of the NYSE American LLC Company Guide, we are exempt from this requirement. If the &#8220;controlled company&#8221;
exemption would cease to be available to us under the NYSE American LLC Company Guide, we may instead elect to continue to follow Israeli
law.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Board determined that three of the members of our Board, Ms. Leviant, Ms. Ben Simon and Mr. Vaknin, are &#8220;independent&#8221; within
the meaning of Section 803A of the NYSE American LLC Company Guide.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Alternate
Directors</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Articles provide that, subject to the Board&#8217;s approval, a director may appoint an individual, by written notice to us, to serve
as an alternate director. The following persons may not be appointed nor serve as an alternate director: (i) a person not qualified to
be appointed as a director, (ii) an actual director, or (iii) another alternate director. Any alternate director shall have all of the
rights and obligations of the director appointing him or her, except the power to appoint an alternate (unless the instrument appointing
him or her expressly provides otherwise). The alternate director may not act at any meeting at which the director appointing him or her
is present. Unless the appointing director limits the time period or scope of any such appointment, such appointment is effective for
all purposes and for an indefinite time, but will expire upon the expiration of the appointing director&#8217;s term. There are currently
no alternate directors.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Duties
of Office Holders and Approval of Certain Actions and Transactions under the Companies Law</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Companies Law codifies the duty of care and fiduciary duties that an office holder has to our company.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
duty of care requires an office holder to act at a level of care that a reasonable office holder in the same position would employ under
the same circumstances. This includes the duty to utilize reasonable means to obtain (i) information regarding the appropriateness of
a given action brought for his or her approval or performed by the office holder by virtue of his or her position and (ii) all other
information of importance pertaining to the foregoing actions.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
duty of loyalty includes avoiding any conflict of interest between the office holder&#8217;s position in the company and his or her personal
affairs or other positions, avoiding any competition with the company, avoiding exploiting any business opportunity of the company in
order to receive personal gain for himself or herself or for others, and disclosing to the company any information or documents relating
to the company&#8217;s affairs which the office holder has received due to his or her position as such. A company can approve actions
by an office holder that could be deemed to be in breach of his or her duty of loyalty provided that: (i) the office holder acted in
good faith and the action or its approval do not prejudice the company&#8217;s interests, and (ii) the office holder disclosed to the
company, a reasonable time prior to the discussion of the approval, the nature of his or her personal interest in the action, including
any material fact or document. The approval of such actions is obtained based on the requirements for approval of transactions in which
an office holder has a personal interest. The Companies Law provides that for purposes of determining the approval process, &#8220;actions&#8221;
(defined as any legal action or inaction) are treated as &#8220;transactions&#8221; and &#8220;material actions&#8221; (defined as an
action that may materially affect the company&#8217;s profitability, assets or liabilities) are treated as &#8220;extraordinary transactions.&#8221;
An &#8220;extraordinary transaction&#8221; is defined as a transaction that is not in the ordinary course of business, not on market
terms, or that is likely to have a material impact on the company&#8217;s profitability, assets or liabilities. One of the roles of the
audit committee under the Companies Law is to determine whether a transaction is or is not an extraordinary transaction. These transactions
and extraordinary transactions are required to be for the benefit of the company and are subject to a special approval process as set
forth below. The Companies Law requires that an office holder of a company promptly disclose to the company&#8217;s board of directors
any personal interest that he or she may have, and all related material information known to him or her in connection with any existing
or proposed transaction by the company. This disclosure must be made by the office holder, whether orally or in writing, no later than
the first meeting of the company&#8217;s board of directors which discusses the particular transaction.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
office holder is deemed to have a &#8220;personal interest&#8221; if he has a personal interest in an act or transaction of a company,
including a personal interest of his relative or of a corporation in which such office holder or his relative are a 5% or greater shareholder,
but excluding a personal interest stemming from the fact of a shareholding in the company. The term &#8220;personal interest&#8221; also
includes a personal interest of a person voting pursuant to a proxy provided to him from another person even if such other person does
not have a personal interest and the vote of a person that received a proxy from a shareholder that has a personal interest is viewed
as a vote of the shareholder with the personal interest, all whether the discretion with respect to the voting is held by the person
voting or not.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
transaction or action, whether material or extraordinary or not, cannot be approved unless they are for the benefit of the company. In
the case of a transaction that is not an extraordinary transaction or an action that is not a material action, after the office holder
complies with the above disclosure requirements, only board approval is required. In the case of an extraordinary transaction or a material
action, the company&#8217;s audit committee and board of directors, and, under certain circumstances, the shareholders of the company,
must approve the action or transaction, in addition to any approval stipulated by the articles of the company. For more information concerning
the approval process of terms of service and employment of officers, directors, controlling shareholders and their relatives see &#8220;Compensation
Policy and Approval Process of Directors&#8217; and Officers&#8217; Terms of Service and Employment&#8221; above.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
a discussion concerning the determination whether an action is material or not an whether a transaction is extraordinary or not and for
a review on the approval process for the terms of services of officers, see &#8220;Committees of the Board of Directors &#8211; Audit
Committee&#8221; below.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
director who has a personal interest in a matter that is considered at a meeting of the board of directors or the audit committee may
not be present at this meeting or vote on this matter, provided that an office holder who has a personal interest may be present for
the presentation of the transaction in the event the chairman of the audit committee or the chairman of the board, as the case may be,
determine that she or he are required for the presentation of the transaction, unless a majority of the members of the board of directors
or audit committee, as the case may be, have a personal interest in the matter, in which case they may all be present and vote. In the
event a majority of the members of the board of directors have a personal interest in a matter, they can participate and vote, however
such matter must be also approved by the shareholders of the company.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Committees
of the Board of Directors</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Audit
Committee</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the Companies Law, we, as a public company, are required to have an audit committee. The Audit Committee must be comprised of at least
three members of the Board, including all of the external directors. In addition, the Companies Law requires that the majority of the
members of the audit committee be &#8220;independent&#8221; (as such term is defined under the Israeli Companies Law) and that the chairman
of the audit committee be an external director. The Companies Law further provides that the following may not be members of the audit
committee: (a) the chairman of the board of directors; (b) any director employed by or providing services on an ongoing basis to the
company, to a controlling shareholder of the company or an entity controlled by a controlling shareholder of the company; (c) a director
who derives most of its income from a controlling shareholder; and (d) a controlling shareholder or any relative of a controlling shareholder.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Audit Committee, acting pursuant to a written charter adopted based on the requirements of the Companies Law, the rules promulgated under
the Exchange Act and the NYSE American LLC Company Guide, currently consists of Daniel Vaknin, who is also the chairman of the Audit
Committee, Dorit Ben Simon and Anita Leviant. The members of our Audit Committee satisfy the respective &#8220;independence&#8221; requirements
of the Securities and Exchange Commission, NYSE American LLC and Israeli law for audit committee members. During 2022, our Audit Committee
met at least once each quarter.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Companies Law provides that the roles of an audit committee are as follows: (i) monitoring deficiencies in the business management of
a company, including by consulting with the internal auditor or independent accountants and suggesting methods of correction of such
deficiencies to the board of directors, (ii) determining whether or not certain related party actions and transactions and actions taken
by office holders that are &#8220;material actions&#8221; or &#8220;extraordinary transactions&#8221; in connection with their approval
procedures as more fully described above, (iii) determining in connection with transactions with the controlling shareholder or with
a third party in which the controlling shareholder has a personal interest (event if they are not extraordinary transactions) and in
connection with transactions with the controlling shareholder or its relative, directly or indirectly, for the receipt of services or
in connection with terms of employment or service, a duty to conduct a competitive process, supervised by the audit committee or anyone
else appointed by the audit committee and based on criteria determined by the audit committee, or to determine that other procedures
determined by the audit committee will be conducted, prior to execution of such transactions, all based on the type of the transaction
(the audit committee is permitted to determine criteria for this matter once a year in advance), (iv) determining whether to approve
actions and transactions that require audit committee approval under the Companies Law, (v) determining the method of approval of non-negligible
transactions (i.e. transactions of a company with a controlling shareholder or with a third party in which the controlling shareholder
has a personal interest that the audit committee determined are not extraordinary but are non-negligible), including to determine types
of such transactions that will require the approval of the audit committee (the audit committee is permitted to determine a classification
of transactions as non-negligible based on criteria determined once a year in advance), (vi) in a company in which the work plan of the
internal auditor is approved by the board &#8211; examining the work plan before it is submitted to the board and suggesting revisions,
(vii) assessing the company&#8217;s internal audit system and the performance of its internal auditor and whether the internal auditor
has the resources and tools required to it for the performance of its role, taking into account, among others, the special needs and
size of the company, (viii) examining the scope of work and compensation of the company&#8217;s independent auditor and (ix) setting
procedures in connection with the method of dealing with complaints of employees regarding defects in the management of the company&#8217;s
business and with the protection that will be provided to employees who have complained.</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
actions and transactions that require audit committee approval pursuant to the Companies Law are: (i) proposed extraordinary transactions
to which we intend to be a party in which an office holder has a direct or indirect personal interest, (ii) actions or arrangements which
may otherwise be deemed to constitute a breach of fiduciary duty or of the duty of care of an office holder to us, (iii) certain transactions
and extraordinary transaction of the company in which a &#8220;controlling shareholder,&#8221; that is, a shareholder holding the ability
to direct the actions of the company, other than by virtue of being a director or holding a position with the company, including a shareholder
holding twenty five percent or more of the voting rights of the company if there is no other shareholder holding over fifty percent of
the voting rights of the company, has a personal interest, including certain transactions with a relative of the controlling shareholder
and (iv) certain private placements of the company&#8217;s shares. In certain circumstances, some of the matters referred to above may
also require shareholder approval. For more information concerning the approvals required in connection with transactions in which a
controlling shareholder has a personal interest, see &#8220;Item 10.B: Memorandum of Association and Second Amended and Restated Articles.&#8221;</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
audit committee may not approve an action or transaction with a controlling shareholder or with an office holder or in which they have
a personal interest unless at the time of approval its composition is as required by the Companies Law.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Audit Committee assists our Board in fulfilling its legal and fiduciary obligations in matters involving our accounting, auditing, financial
reporting, internal control and legal compliance functions by approving the services performed by our independent accountants and reviewing
their reports regarding our accounting practices and systems of internal accounting controls. Under the Sarbanes-Oxley Act of 2002, the
Audit Committee is also responsible for the appointment, compensation, retention and oversight of our independent accountants and takes
those actions as it deems necessary to satisfy itself that the accountants are independent of management. However, under the Companies
Law the appointment of independent auditors requires the approval of our shareholders, accordingly, the appointment of the independent
auditors is approved and recommended to the shareholders by our Audit Committee and Board and ratified by the shareholders. Furthermore,
pursuant to our Articles, our shareholders have the authority to determine the compensation of the independent auditors (or empower the
Board to establish their remuneration, as they have in the 2021 Shareholders Meeting) and such compensation is approved by our Board
following a recommendation of the Audit Committee.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Audit Committee discussed with the independent registered public accounting firm the matters covered by Statement on Auditing Standards
No. 114, as well as their independence, and was satisfied as to the independent registered public accounting firm&#8217;s compliance
with said standards.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Compensation
Committee</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Companies Law requires the board of directors of a public company to appoint a compensation committee that shall consist of no less than
three members, that will include all of external directors (which will constitute a majority of its members of the committee), and that
the remainder of the members of the compensation committee be directors whose terms of service and employment were determined pursuant
to the Compensation Regulations. In addition, the Companies Law imposes the same restrictions on the actions and membership in the compensation
committee as are discussed above under &#8220;Audit Committee&#8221; with respect to, among other things, the requirement that an external
director serve as the chairman of the committee and the list of persons who may not serve on the committee. Our Compensation Committee
currently consists of Daniel Vaknin, who is also the chairman of the Compensation Committee, Dorit Ben Simon and Anita Leviant.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Companies Law sets forth the roles of the compensation committee as follows: (i) to recommend to the board on a compensation policy for
office holders and to recommend to the board, once every three years, on the approval of the continued validity of the compensation policy
for a period that was determined for a period exceeding three years; (ii) to recommend to the board to update the compensation policy
from time to time and to examine its implementation; (iii) to determine whether to approve the Terms of Service and Employment of office
holders that require the committee&#8217;s approval; and (iv) to exempt a transaction from the requirement for shareholders approval
(as more fully described below).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
February 2016, the Companies Law was amended to provide that an audit committee that meets the criteria for the composition of a compensation
committee, such as our Audit Committee, can also act as the compensation committee.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Indemnification,
Exemption and Insurance of Executive Officers and Directors</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consistent
with and subject to the provisions of the Companies Law, our Articles permit us to procure insurance coverage for our office holders,
exempt them from certain liabilities and indemnify them, to the fullest extent permitted by law.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Israeli Securities Law, 5728-1968, or the Securities Law, and the Companies Law, authorize the Israeli Securities Authority to impose
administrative sanctions against companies and their office holders for certain violations of the Israeli Securities Law or the Companies
Law. These sanctions include monetary sanctions and certain restrictions on serving as a director or senior officer of a public company
for certain periods of time. The maximum amount of the monetary sanctions that could be imposed upon individuals is a fine of NIS 1 million
(equivalent to approximately &#8364;0.25 million), plus payments to persons who suffered damages as a result of the violation in an amount
equal to the higher of: (i) compensation for damages suffered by all injured persons, up to 20% of the fine imposed on the violator,
or (ii) the amount of profits earned or losses avoided by the violator as a result of the violation, up to the amount of the applicable
monetary sanction.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
aforementioned provisions of the Companies Law and the Securities Law generally provide that a company cannot indemnify or provide liability
insurance to cover monetary sanctions. However, these provisions do permit reimbursement by indemnification and insurance of specific
liabilities. Specifically, legal expenses (including attorneys&#8217; fees) incurred by an individual in the applicable administrative
enforcement proceeding and any compensation payable to injured parties for damages suffered by them as described in clause (i) of the
immediately preceding paragraph are permitted to be reimbursed via indemnification or insurance, provided that such reimbursements are
permitted by the company&#8217;s articles of association.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Indemnification</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
permitted by the Companies Law, our Articles provide that we may indemnify an office holder in respect of a liability or expense which
is imposed on him or incurred by him as a result of an action taken in his capacity as an office holder of the Company in connection
with the following:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">monetary
liability imposed on the office holder in favor of a third party by a judgment, including a settlement or a decision of an arbitrator
which is given the force of a judgment by court order;</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">reasonable
litigation expenses, including legal fees, incurred by the office holder as a result of an investigation or proceeding instituted against
such office holder by a competent authority, which investigation or proceeding has ended without the filing of an indictment or in the
imposition of financial liability in lieu of a criminal proceeding, or has ended in the imposition of a financial obligation in lieu
of a criminal proceeding for an offence that does not require proof of criminal intent (the phrases &#8220;proceeding that has ended
without the filing of an indictment&#8221; and &#8220;financial obligation in lieu of a criminal proceeding&#8221; shall have the meanings
ascribed to such phrases in Section 260(a)(1a) of the Companies Law) or in connection with an administrative enforcement proceeding or
a financial sanction. Without derogating from the generality of the foregoing, such expenses will include a payment imposed on the office
holder in favor of an injured party as set forth in Section 52[54](a)(1)(a) of the Securities Law, and expenses that the office holder
incurred in connection with a proceeding under Chapters H&#8217;3, H&#8217;4 or I&#8217;1 of the Securities Law or in connection with
Article D of Chapter Four of Part Nine of the Companies Law, including reasonable legal expenses, which term includes attorney fees;</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">reasonable
litigation expenses, including legal fees, which the office holder has incurred or is obliged to pay by the court in proceedings commenced
against him by the Company or in its name or by any other person, or pursuant to criminal charges of which he is acquitted or criminal
charges pursuant to which he is convicted of an offence which does not require proof of criminal intent; and</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">d.</span></td><td style="text-align: justify">e<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">xpenses,
including reasonable legal fees, including attorney fees, incurred by the office holder with respect to a proceeding in accordance with
the Restrictive Trade Practices Law, 1988, as amended, or the Restrictive Trade Practices Law.</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Articles authorize us, from time to time and subject to any provision of the law, to undertake in advance to indemnify an office holder
for any of the following: (i) any liability as set out in (a) above, provided that the undertaking to indemnify is limited to the classes
of events which in the opinion of our Board can be anticipated in light of our activities at the time of giving the indemnification undertaking,
and for an amount and/or criteria which our Board has determined are reasonable in the circumstances and, the events and the amounts
or criteria that our Board deem reasonable in the circumstances at the time of giving of the undertaking are stated in the undertaking;
(ii) any liability stated in (b) through (d) above; and any matter permitted by applicable law. Our Articles also authorize us to indemnify
an office holder after the occurrence of the event which is the subject of the indemnity and with respect to any matter permitted by
applicable law.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
our annual shareholders meeting held on June 21, 2018, or the 2018 Shareholders Meeting, our shareholders authorized us to revise the
indemnification, insurance and exemption provisions of our Articles and further authorized us, following the approval of our Compensation
Committee and Board of Directors, to provide amended indemnification undertakings and exemption to each of our current and future office
holders. At our shareholders&#8217; meeting held on December 17, 2020, our shareholders approved, with the requisite special majority,
the grant of an indemnification undertaking to Mr. Ehud Gil as a relative of a controlling shareholder. At our 2021 Shareholders Meeting,
our shareholders approved, with the requisite special majority, the grant and extension of indemnification undertakings to our office
holders who may be deemed to be &#8220;controlling shareholders&#8221; (currently Messrs. Nehama and Fridrich).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
indemnification undertakings provided by us are limited to certain categories of events and the aggregate indemnification amount that
we shall pay (in addition to sums payable by insurance companies) for monetary liabilities imposed on, or incurred by, the director or
officer pursuant to all the indemnification undertakings issued by us to our directors and officers is also limited. Under the indemnification
undertakings provided by us prior to the 2018 Shareholders Meeting, the aggregate indemnification amount payable by us for monetary liabilities
may not exceed an amount equal to the higher of: (i) fifty percent (50%) of our net equity at the time of indemnification, as reflected
on our most recent financial statements at such time, or (ii) our annual revenue in the year prior to the time of indemnification. Under
the indemnification undertakings provided by us subsequent to the 2018 Shareholders Meeting and in line with the limitation currently
included in our Compensation Policy, the aggregate indemnification amount payable by us for monetary liabilities, shall not exceed an
amount equal to 25% of our shareholders&#8217; equity according to the latest reviewed or audited consolidated financial statements approved
by our Board of Directors prior to the date on which the indemnification amount is paid. Our previous form of indemnification undertaking
is attached hereto as Exhibit 4.3 and our current form of indemnification undertaking and exemption, granted to office holders commencing
the 2018 Shareholders Meeting, is attached hereto as Exhibit 4.4, both under &#8220;Item 19: Exhibits.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
such indemnification undertakings, we also, among other things, undertake to (i) produce collateral, security, bond or any other guarantee
that the director or officer may be required to produce as a result of any interim legal procedure (other than criminal procedures involving
the proof of criminal thought), all up to the maximum indemnification amount set forth above; and (ii) maintain a liability insurance
policy with a reputable insurer to the extent permitted by the Companies Law, for all of our directors and officers, in a total amount
of not less than $10 million during the period the recipient of the indemnity undertaking serves as a member of our board of directors
or as an officer and for a period of seven years thereafter.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Based
on the previous approvals of our Audit and Compensation Committee, Board and shareholders, we granted indemnification undertakings as
explained above to each of our office holders and expect that we will provide them to our future office holders.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Exemption</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the Companies Law, an Israeli company may not exempt an office holder from liability for a breach of his duty of loyalty, but may exempt
in advance an office holder from his liability to the company, in whole or in part, for a breach of his duty of care, provided that in
no event shall a director be exempt from any liability for damages caused as a result of a breach of his duty of care to the company
in the event of a &#8220;distribution&#8221; (as defined in the Companies Law). Our Articles authorize us to, subject to the provisions
of the Companies Law, exempt an office holder from all or part of such office holder&#8217;s responsibility or liability for damages
caused to us due to any breach of such office holder&#8217;s duty of care towards us.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
our 2018 Shareholders Meeting, our shareholders authorized an amendment to our Articles, in line with the limitation currently included
in our Compensation Policy, providing that we may not, subsequent to the 2018 Shareholders Meeting, grant exemption letters to office
holders for an action or transaction in which a controlling shareholder (as such term is defined in the Companies Law) or any other office
holder (including an office holder who is not the office holder we have undertaken to exempt) has a personal interest (as such term is
defined in the Companies Law). At our 2018 Shareholders Meeting, our shareholders also approved a new form of Indemnification Undertaking
and Exemption to be granted to all of our current and future office holders, which includes the foregoing limitation and further provides
that no exemption will be granted in respect of any counterclaim of the Company filed against the office holder in response to a claim
filed by the office holder against the Company, except if the office holder&#8217;s claim relates to his or her labor law rights and/or
his or her individual employment agreement with the Company or any of its subsidiaries.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
noted above, we granted the new form of Indemnification Undertaking and Exemption to all our current directors and officers and intend
to provide it to our future directors and officers.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Insurance</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
permitted by the Companies Law, our Articles provide that we may enter into an agreement for the insurance of the liability of an office
holder, in whole or in part, with respect to any liability which may imposed upon such office holder as a result of an act performed
by same office holder in his capacity as an office holder of the Company, for any of the following: (a) a breach of a cautionary duty
toward the Company or toward another person; (b) a breach of a fiduciary duty toward the Company, provided the office holder acted in
good faith and has had reasonable ground to assume that the act would not be detrimental to the Company; (c) a monetary liability imposed
upon an office holder toward another; (d) reasonable litigation expenses, including attorney fees, incurred by the office holder as a
result of an administrative enforcement proceeding instituted against him (without derogating from the generality of the foregoing, such
expenses will include a payment imposed on the office holder in favor of an injured party as set forth in Section 52[54](a)(1)(a) of
the Securities Law and expenses that the office holder incurred in connection with a proceeding under Chapters H&#8217;3, H&#8217;4 or
I&#8217;1 of the Securities Law or in connection with Article D of Chapter Four of Part Nine of the Companies Law, including reasonable
legal expenses, which term includes attorney fees); and (e) expenses, including reasonable litigation expenses, including attorney fees,
incurred by the office holder with respect to a proceeding in accordance with the Restrictive Trade Practices Law. Our Articles further
permit us to enter into such an agreement with respect to any other matter in respect of which it is permitted or will be permitted under
applicable law to insure the liability of an office holder in the Company.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
stated above, in the indemnification undertakings approved by our Audit and Compensation Committee, Board and shareholders and provided
to our directors and officers, we have undertaken to maintain a liability insurance policy with a reputable insurer to the fullest extent
currently permitted by the Companies Law and our Articles, for all of our directors and officers, in a total amount of not less than
$10 million during the period the recipient of the indemnity undertaking serves as a member of our board of directors or as an officer,
and for a period of seven years thereafter.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
current coverage of our directors&#8217; and officers&#8217; liability insurance policy is $15 million. At our 2022 Annual Meeting, our
shareholders approved, following the approval of our Compensation Committee and Board, the terms and conditions for the renewal, extension
and/or replacement, from time to time, of our directors&#8217; and officers&#8217; liability insurance policy for all current and future
directors and officers (including office holders who may be deemed to be controlling shareholders or relatives of controlling shareholders,
within the meaning of the Companies Law) as follows: (i) the coverage limit per claim and in the aggregate under the policy may not exceed
$15 million; (ii) the premium paid for such policy for a 12 month period may be up to $900,000 per year, and (iii) our Compensation Committee
is and will be authorized to increase coverage and/or the maximum annual premium set forth under (ii) above by up to 30% in any year,
as compared to the previous year, without additional shareholders&#8217; approval. Based on these and prior approvals, we obtained directors&#8217;
and officers&#8217; liability insurance covering our directors and officers. Our Compensation Policy provides that our office holders
will be covered by a Directors and Officers insurance liability policy, to be periodically purchased us, subject to the requisite approvals
under the Companies Law, including run-off insurance for a period of up to seven years, and that the coverage limit per claim and in
the aggregate under the policy may not exceed $15 million and our Compensation Committee is and will be authorized to increase coverage
by up to 30% in any year, as compared to the previous year.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, the Relief Regulations provide that in the event the compensation committee and board of an Israeli public company determine
that the insurance provided to our office holders who are deemed to be controlling shareholders or to the chief executive officer is:
(i) upon terms identical to those provided to the company&#8217;s other officers and directors, (ii) on market conditions, and (iii)
not likely to materially affect the company&#8217;s profitability, assets or liabilities, the approval of shareholders for the provision
of liability insurance to such office holders is not required.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Limitations
on Indemnification, Exemption and Insurance</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Companies Law provides that a company may not exempt or indemnify an office holder nor enter into an insurance contract which would provide
coverage for liability incurred as a result of any of the following: (a) a breach by the office holder of his or her duty of loyalty
(however, a company may insure and indemnify against such breach if the office acted in good faith and had reasonable cause to assume
that his act would not prejudice the company&#8217;s interests); (b) a breach by the office holder of his or her duty of care if the
breach was done intentionally or recklessly, unless made in negligence only; (c) any act or omission done with the intent to derive an
illegal personal benefit; or (d) any fine, civil fine, monetary sanction or penalty levied against the office holder. According to the
Securities Law, a company cannot insure or indemnify an office holder for an Administrative Enforcement procedure, regarding payments
to victims of the infringement or for expenses expended by the officer with respect to certain proceedings held concerning him or her,
including reasonable litigation expenses and legal fees.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Internal
Auditor</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the Companies Law, our Board is required to appoint an internal auditor proposed by the Audit Committee. The role of the internal auditor
is to examine, among other things, whether our activities comply with the law and orderly business procedure. The internal auditor may
not be an interested party or office holder, or a relative of any interested party or office holder, and may not be a member of our independent
auditor firm. The Companies Law defines the term &#8220;interested party&#8221; to include a person who holds 5% or more of the company&#8217;s
outstanding share capital or voting rights, a person who has the right to appoint one or more directors or the general manager, or any
person who serves as a director or as the general manager. Pursuant to our Articles, our Audit Committee reviews and approves the work
program of our internal auditor. Mr. Doron Cohen of Fahn, Kanne &amp; Co., an Israeli accounting firm, serves as our internal auditor.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D. Employees</b></span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023 we had 26 employees, as of December 31, 2022 we had 25 employees and as of December 31, 2021 we had 20 employees.
As of December 31, 2023, 14 employees were located in Israel, all in management, finance and administration positions, one employee,
serving as project manager, was located in Spain, 2 employees, serving as project managers, were located in Italy and 9 employees are
located in the Netherlands, all engaged in the administration and operation of our WtE plants.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
of our employees who have access to confidential information are required to sign a non-disclosure agreement covering all of our confidential
information that they might possess or to which they might have access.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe our relations with employees are satisfactory. We have never experienced a strike or work stoppage. We believe our future success
will depend, in part, on our ability to continue to attract, retain, motivate and develop highly qualified personnel.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israeli
labor laws and regulations are applicable to our employees located in Israel. Israeli labor laws govern, among other things, the length
of the workday, minimum wages for employees, procedures for hiring and dismissing employees, annual leave and sick days. In addition,
the Israeli Severance Pay Law, 1963, or the Severance Pay Law, generally requires the payment of severance pay equal to one month&#8217;s
salary, based on the most recent salary, for each year of employment or a prorated portion thereof upon the termination of employment
of an employee. Unless otherwise indicated in the employment agreement or otherwise required by applicable law and labor orders, the
employee is not entitled to severance pay in the event she or he willingly resigns. In order to fund (or partially fund as hereinafter
explained) any future liability in connection with severance pay, we make payments equal to 8.33% of the employee&#8217;s salary every
month, to various managers&#8217; insurance policies or similar financial instruments.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the event the employment agreement with an employee provides that the provisions of Section 14 of the Severance Pay Law will apply, our
contributions for severance pay are in lieu of our severance liability and the employee is entitled to receive such contributions whether
her or his employment is terminated by us, or she or he resigns. Therefore, upon fulfillment of our obligation to make a monthly contribution
to the managers&#8217; insurance policies or similar financial instruments in the amount of 8.33% of the employee&#8217;s monthly salary
and of the other terms of the relevant permit with respect to this arrangement, no additional payments must later be made to the employee
on account of severance pay upon termination of the employment relationship. As required by Israeli law, our employees are also provided
with a contribution toward their retirement that amounts to 12.5% of wages, of which the employee contributes 6%. Furthermore, Israeli
employees and employers are required to pay predetermined sums to the National Insurance Institute, which is similar to the United States
Social Security Administration, and additional sums towards compulsory health insurance.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>E. Share Ownership</b></span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Beneficial
Ownership of Executive Officers and Directors</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth certain information regarding the beneficial ownership of our ordinary shares as of March 31, 2024, of (i)
each of our directors and (ii) each member of our senior management. All of the information with respect to beneficial ownership of the
ordinary shares is given to the best of our knowledge and has been furnished in part by the respective directors and members of senior
management.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">Name of Beneficial Owner</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number of<br/> Shares<br/> Beneficially<br/> Held <sup>(1)</sup></b></span></p></td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Percent of<br/> Class</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shlomo Nehama<sup>(2)(4)</sup>	</span></td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">3,588,577</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">27.9</td><td style="width: 1%; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ran Fridrich<sup>(3)(4)</sup>	</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,605,845</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">20.3</td><td style="text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ehud Gil<sup>(5)</sup>	</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,666</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anita Leviant<sup>(5)</sup>	</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">5,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Daniel Vaknin<sup>(5)</sup>	</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,583</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Dorit Ben Simon	</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Kalia Rubenbach	</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">6,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Ori Rosenzweig	</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">6,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Yehuda Saban	</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">6,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">All directors and executive officers as a group	</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">6,222,671</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">48.3</td><td style="text-align: left">%</td></tr>
  </table><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.9pt"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"></p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less
than one percent of the outstanding ordinary shares. See additional details below.</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
used in this table, &#8220;beneficial ownership&#8221; means the sole or shared power to vote or direct the voting or to dispose or direct
the disposition of any security. For purposes of this table, a person is deemed to be the beneficial owner of securities that can be
acquired within 60 days from March 15, 2024 through the exercise of any option or warrant. Ordinary shares subject to options or warrants
that are currently exercisable or exercisable within 60 days are deemed outstanding for computing the ownership percentage of the person
holding such options or warrants, but are not deemed outstanding for computing the ownership percentage of any other person. The amounts
and percentages are based upon 12,852,585 ordinary shares outstanding as of March 15, 2024. This number of outstanding ordinary shares
does not include a total of 258,046 ordinary shares held at that date as treasury shares under Israeli law, all of which were repurchased
by us. For so long as such treasury shares are owned by us they have no rights and, accordingly, are neither eligible to participate
in or receive any future dividends which may be paid to our shareholders nor are they entitled to participate in, be voted at or be counted
as part of the quorum for, any meetings of our shareholders.</span></td>
</tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">According
                                            to information provided by the holders, the 3,588,577 ordinary shares beneficially owned
                                            by Mr. Nehama consist of: (i) 3,123,604 ordinary shares held by Nechama Investments, an Israeli
                                            company, which constitute approximately 24.3% of our outstanding ordinary shares, and (ii)
                                            464,973 ordinary shares held directly by Mr. Nehama, which constitute approximately 3.6%
                                            of our outstanding ordinary shares. Mr. Nehama, as the sole officer, director and shareholder
                                            of Nechama Investments, may be deemed to indirectly beneficially own any ordinary shares
                                            beneficially owned by Nechama Investments, which constitute (together with the shares held
                                            directly by him) approximately 27.9% of our outstanding ordinary shares.</span></td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            2,605,845 ordinary shares beneficially owned by Mr. Fridrich consist of ordinary shares held
                                            by Kanir, which constitute approximately 20.3% of our outstanding share capital. Mr. Fridrich
                                            is one of two board members and a shareholder of Kanir Investments Ltd., or Kanir Ltd., the
                                            general partner in Kanir, and by virtue of his position with Kanir Ltd. may be deemed to
                                            indirectly beneficially own the ordinary shares beneficially owned by Kanir. Mr. Fridrich
                                            disclaims beneficial ownership of the shares held by Kanir, except to the extent of his pecuniary
                                            interest therein, if any.</span></td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
                                            virtue of the 2008 Shareholders Agreement between Nechama Investments and Kanir (see &#8220;Item
                                            7.A: Major Shareholders&#8221;), Mr. Nehama, Nechama Investments, Kanir and Mr. Fridrich
                                            may be deemed to be members of a group that holds shared voting power with respect to 5,729,449
                                            ordinary shares, which constitute approximately 44.6% of our outstanding ordinary shares,
                                            and holds shared dispositive power with respect to 5,232,201 ordinary shares, which constitute
                                            40.7% of our outstanding ordinary shares. Accordingly, taking into account the shares directly
                                            held by Mr. Nehama, he may be deemed to beneficially own approximately 48.2% of our outstanding
                                            ordinary shares. Mr. Nehama and Nechama Investments both disclaim beneficial ownership of
                                            the ordinary shares beneficially owned by Kanir and Kanir Ltd., Kanir and Mr. Fridrich disclaim
                                            beneficial ownership of the shares held by Nechama Investments.</span></td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
                                            Ehud Gil holds currently exercisable options to purchase 2,666 ordinary shares with expiration
                                            dates ranging from December 17, 2030 to August 1, 2032 and exercise prices per share ranging
                                            between $27.22 - $34.44, (ii) Anita Leviant holds currently exercisable options to purchase
                                            5,000 ordinary shares with expiration dates ranging from August 1, 2028 to August 1, 2032
                                            and exercise prices per share ranging between $8.95 - $28.5, and (iii) Daniel Vaknin holds
                                            currently exercisable options to purchase 2,583 ordinary shares with expiration dates ranging
                                            between December 30, 2030 and August 1, 2032 and exercise prices per share ranging between
                                            $27.22 - $34.3.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.3pt; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.3pt; text-align: justify; text-indent: 0in"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->144<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our directors currently hold,
in the aggregate, options to purchase 19,365 ordinary shares. The options have a weighted average exercise price of approximately $23.43
per share and have expiration dates until 2033. During the years ended December 31, 2021, 2022 and 2023, each of Anita Leviant, Ehud Gil
and Daniel Vaknin, members of our Board, was granted options to purchase 1,000 shares (on August 1 of each of such years) under the 1998
Plan. Dorit Ben Simon, an external director, was granted options to purchase 616 shares upon her appointment as external director (calculated
based on the date of her appointment as a member of our Board). The exercise price for the underlying shares of such options is the &#8220;Fair
Market Value&#8221; (as defined in the 1998 Plan) of our ordinary shares at the date of grant. The options expire ten years after their
grant date. As described above under &#8220;Compensation - Compensation of Non-Executive Directors&#8221;, the options granted to our
directors vest on the first anniversary of the grant date, provided that the recipient is a member of our Board on such anniversary. Of
the options held by our directors, options to purchase 10,249 ordinary shares are currently exercisable, options to purchase 3,000 ordinary
shares will become exercisable on August 1, 2024 and options to purchase 616 shares will become exercisable on December 20, 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In June 2019, we granted options
to purchase 9,869 ordinary shares to Mr. Ori Rosenzweig, our Chief Investment Officer. The options vest in equal installments on an annual
basis over a period of three years and have an exercise price of $11.19 per ordinary share. In October 2019, Mr. Rosenzweig exercised
the vested portion of these options and in October 2022 Mr. Rosenzweig exercised the remainder of the options. In November 2021, we granted
each of Kalia Rubenbach, Ori Rosenzweig and Yehuda Saban (through the consulting company owned by him) options to purchase 9,000 ordinary
shares. These options vest in equal installments on an annual basis over a period of three years and have an exercise price of $29.36
per ordinary share.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Outstanding Options </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>1998 Share Option Plan for Non-Employee Directors
</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For more information concerning
our 1998 Share Option Plan for Non-Employee Directors see &#8220;Item 6.B: Compensation.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of January 1, 2023, December
31, 2023 and March 31, 2024, there were 22,667, 18,051 and 18,051 ordinary shares, respectively, available for future grants under the
1998 Plan.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>2000 Stock Option Plan</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In 2000, we adopted the 2000
Stock Option Plan, or the 2000 Plan, to provide for grants of service and non-employee options to purchase ordinary shares to our officers,
employees, directors and consultants. The 2000 Plan provides that it may be administered by the Board, or by a committee appointed by
the Board, and is currently administered by our Board.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As amended, the 2000 Plan
provides for the issuance of 1,772,459 ordinary shares. During 2008 we repurchased options to acquire approximately 990,000 ordinary shares
from employees and such options were canceled, decreasing the amount of shares reserved for issuance the 2000 Plan. The 2000 Plan, as
amended, currently terminates on August 31, 2028.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->145<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board has broad discretion
to determine the persons entitled to receive options under the 2000 Plan, the terms and conditions on which options are granted, and the
number of ordinary shares subject thereto. Our Board delegated to our management its authority to issue ordinary shares issuable upon
exercise of options under the 2000 Plan. The exercise price of the options under the 2000 Plan is determined by our Stock Option and Compensation
Committee, provided, however, that the exercise price of any option granted shall not be less than eighty percent (80%) of the stock value
at the date of grant of such options. The stock value at any time is equal to the then current fair market value of our ordinary shares.
For purposes of the 2000 Plan (as amended), the fair market value means, as of any date, the last reported closing price of the ordinary
shares on such principal securities exchange on the most recent prior date on which a sale of the ordinary shares took place.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board determines the term
of each option granted under the 2000 Plan, including the vesting period; provided, however, that the term of an option shall not be for
more than 10 years. Unless otherwise agreed by the parties, upon termination of employment, all unvested options lapse, and generally
within three months from such termination all vested but not-exercised options shall lapse.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The options granted are subject
to restrictions on transfer, sale or hypothecation. Options and ordinary shares issuable upon the exercise of options granted to our Israeli
employees are held in a trust until the payment of all taxes due with respect to the grant and exercise (if any) of such options.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have elected the benefits
available under the &#8220;capital gains&#8221; alternative of Section 102 of the Israeli Income Tax Ordinance [New Version], 1961, or
the Israeli Income Tax Ordinance. Pursuant to this election, capital gains derived by employees arising from the sale of shares acquired
as a result of the exercise of options granted to them under Section 102, will be subject to a flat capital gains tax rate of 25% (instead
of the gains being taxed as salary income at the employee&#8217;s marginal tax rate). However, as a result of this election, we will no
longer be allowed to claim as an expense for tax purposes the amounts credited to such employees as a benefit when the related capital
gains tax is payable by them, as we were previously entitled to do. We may change the election from time to time, as permitted by the
Israeli Income Tax Ordinance. There are various conditions that must be met in order to qualify for these benefits, including registration
of the options in the name of a trustee, or the Trustee, for each of the employees who is granted options. Each option, and any ordinary
shares acquired upon the exercise of the option, must be held by the Trustee for a period commencing on the date of grant and ending no
earlier than 24 months after the date of grant.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of March 15, 2024, there
were options to purchase 34,645 ordinary shares outstanding under the 2000 Plan. The number of additional ordinary shares available for
issuance under the 2000 Plan, as of January 1, 2023, December 31, 2023 and March 15, 2024, was 547,206.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>F.   Disclosure
of a Registrant&#8217;s action to Recover Erroneously Awarded Compenstion</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->146<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><div><a id="aa_012"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 7:
Major Shareholders and Related Party Transactions</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>A.   Major
Shareholders </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table sets forth
information regarding the beneficial ownership of our ordinary shares as of March 15, 2024, by each person known by us to be the beneficial
owner of 5.0% or more of our ordinary shares. Each of our shareholders has identical voting rights with respect to its shares. All of
the information with respect to beneficial ownership of the ordinary shares is given to the best of our knowledge based on public filings
by the shareholders (and on information provided by them).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -35.45pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><b>Ordinary Shares<br/> Beneficially Owned<sup>(1)</sup></b></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Percentage of Ordinary Shares Beneficially Owned</td>
    <td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: justify"><span style="font-size: 10pt">Shlomo Nehama <sup>(2)(4)(5)</sup> </span></td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 9%; text-align: right">3,588,577</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 9%; text-align: right">27.9</td>
    <td style="width: 1%; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify"><span style="font-size: 10pt">Kanir Joint Investments (2005) Limited Partnership <sup>(3)(4)(5)</sup> </span></td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">2,605,845</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">20.3</td>
    <td style="text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify"><span style="font-size: 10pt">Yelin Lapidot Holdings Management Ltd.<sup>(6)</sup> </span></td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">1,632,040</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">12.7</td>
    <td style="text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify"><span style="font-size: 10pt">Clal Insurance Enterprises Holdings Ltd.<sup>(7)</sup> </span></td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">1,568,669</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">12.2</td>
    <td style="text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify"><span style="font-size: 10pt">The Phoenix Holdings Ltd.<sup>(8)</sup> </span></td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">700,802</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">5.5</td>
    <td style="text-align: left">%</td></tr>
  </table><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -35.45pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -35.45pt"></p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -35.45pt"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0%"/><td style="width: 0.25in; text-align: left">(1)</td><td style="text-align: justify">As used in this table, &#8220;beneficial ownership&#8221;
means the sole or shared power to vote or direct the voting or to dispose or direct the disposition of any security as determined pursuant
to Rule 13d-3 promulgated under the U.S. Securities Exchange Act of 1934, as amended. For purposes of this table, a person is deemed
to be the beneficial owner of securities that can be acquired within 60 days from March 31, 2024 through the exercise of any option or
warrant. Ordinary shares subject to options or warrants that are currently exercisable or exercisable within 60 days are deemed outstanding
for computing the ownership percentage of the person holding such options or warrants, but are not deemed outstanding for computing the
ownership percentage of any other person. The amounts and percentages are based on a total of 12,852,585 ordinary shares outstanding
as of March 31, 2024. This number of outstanding ordinary shares does not include a total of 258,046 ordinary shares held at that date
as treasury shares under Israeli law, all of which were repurchased by us. For so long as such treasury shares are owned by us they have
no rights and, accordingly, are neither eligible to participate in or receive any future dividends which may be paid to our shareholders
nor are they entitled to participate in, be voted at or be counted as part of the quorum for, any meetings of our shareholders.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -35.45pt"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(2)</td><td style="text-align: justify">The 3,588,577 ordinary shares beneficially owned by Mr. Nehama consist of: (i) 3,123,604 ordinary shares
held by Nechama Investments, which constitute approximately 24.3% of our outstanding ordinary shares and (ii) 464,973 ordinary shares
and held directly by Mr. Nehama, which constitute approximately 3.6% of our outstanding ordinary shares. Mr. Nehama, as the sole officer,
director and shareholder of Nechama Investments, may be deemed to indirectly beneficially own any ordinary shares owned by Nechama Investments,
which constitute (together with his shares) approximately 27.9% of our outstanding ordinary shares.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -35.45pt"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(3)</td><td style="text-align: justify">Kanir is an Israeli limited partnership. Kanir Ltd., in its capacity as the general partner of Kanir,
has the voting and dispositive power over the ordinary shares directly beneficially owned by Kanir. As a result, Kanir Ltd. may be deemed
to indirectly beneficially own the ordinary shares beneficially owned by Kanir. Mr. Ran Fridrich, who is a member of our Board of Directors
and our Chief Executive Officer and Ms. Anat Raphael, the sister of Mr. Ehud Gil, who is a member of our Board of Directors, are the sole
directors of Kanir Ltd. As a result, Mr. Fridrich and Ms. Raphael may be deemed to indirectly beneficially own the ordinary shares beneficially
owned by Kanir. In addition, Ms. Raphael is the majority shareholder of Kanir Ltd. and beneficially owns 254,524 ordinary shares, which
constitute approximately 2% of our outstanding shares and which constitute, together with Kanir&#8217;s holdings, approximately 22.3%
of our outstanding ordinary shares. Each of Kanir Ltd., Mr. Fridrich and Ms. Raphael disclaims beneficial ownership of such ordinary shares
except to the extent of their respective pecuniary interest therein, if any.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -35.45pt">&#160;</p><div>

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</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(4)</td><td style="text-align: justify">By virtue of the 2008 Shareholders Agreement, Mr. Nehama, Nechama Investments, Kanir, Kanir Ltd., Ms.
Raphael and Mr. Fridrich may be deemed to be members of a group that holds shared voting power with respect to 5,729,449 ordinary shares,
which constitute approximately 44.6% of our outstanding ordinary shares, and holds shared dispositive power with respect to 5,232,201
ordinary shares, which constitute 40.7% of our outstanding ordinary shares. Accordingly, taking into account the shares directly held
by Mr. Nehama, he may be deemed to beneficially own approximately 48.2% of our outstanding ordinary shares and taking into account the
shares directly held by the estate of Mr. Raphael, the estate may be deemed to own approximately 46.6% of our outstanding ordinary shares.
Each of Mr. Nehama and Nechama Investments disclaims beneficial ownership of the ordinary shares beneficially owned by Kanir. Each of
Kanir, Kanir Ltd., Mr. Fridrich and Ms. Raphael disclaims beneficial ownership of the ordinary shares beneficially owned by Nechama Investments.
A copy of the 2008 Shareholders Agreement was filed with the Securities and Exchange Commission, or the SEC, on March 31, 2008 as Exhibit
14 to an amendment to a Schedule 13D and is not incorporated by reference herein.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -34.9pt"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(5)</td><td style="text-align: justify">The information included in this table concerning the beneficial ownership of Nechama Investments, Kanir,
Kanir Ltd., Messrs. Nehama and Fridrich, Ms. Raphael and the estate of Mr. Raphael is based on a Schedule 13D/A submitted on October 13,
2020 and on information provided by the shareholders.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -35.45pt"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(6)</td><td style="text-align: justify">Based on a Schedule 13G/A submitted on January 31, 2024 reporting holdings as of December 31, 2023 by
Mr. Dov Yelin, Mr. Yair Lapidot, Yelin Lapidot Holdings Management Ltd., or Yelin Lapidot, and Yelin Lapidot Mutual Funds Management Ltd.,
or Yelin Lapidot Mutual. According to the Schedule 13G/A: (i) the securities reported therein are beneficially owned as follows: (a) 1,036,767
ordinary shares, which constitute approximately 8.1% of our outstanding ordinary shares, by mutual funds managed by Yelin Lapidot Mutual
and (b) 595,273 ordinary shares, which constitute approximately 4.6% of our outstanding ordinary shares, by provident funds managed by
Yelin Lapidot Provident Fund Management Ltd., or Yelin Lapidot Provident, (ii) both Yelin Lapidot Mutual and Yelin Lapidot Provident are
wholly-owned subsidiaries of Yelin Lapidot and operate under independent management and make their own independent voting and investment
decisions, and (iii) Messrs. Yelin and Lapidot each own 24.38% of the share capital and 25.004% of the voting rights of Yelin Lapidot,
and are responsible for the day-to-day management of Yelin Lapidot. Pursuant to the Schedule 13G/A, any economic interest or beneficial
ownership in any of the securities covered by the Schedule 13G/A is held for the benefit of the members of the provident funds or mutual
funds, as the case may be, and each of Messrs. Yelin and Lapidot, Yelin Lapidot and wholly-owned subsidiaries of Yelin Lapidot, disclaims
beneficial ownership of any such securities.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -35.45pt"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(7)</td><td style="text-align: justify">Based on a Schedule 13G/A submitted on February 14, 2024 reporting holdings as of December 31, 2023 by
Clal Insurance Enterprises Holdings Ltd., or Clal. Based on the Schedule 13G/A, the ordinary shares reported as beneficially owned by
Call consist of: (i) 85,829 ordinary shares, including 56,115 ordinary shares issuable upon the exercise of warrants to purchase ordinary
shares that are exercisable within 60 days, which are beneficially held for Clal&#8217;s own account and (ii) 1,482,840 ordinary shares
that are held for members of the public through, among others, provident funds and/or pension funds and/or insurance policies, which are
managed by subsidiaries of Clal, which subsidiaries operate under independent management and make independent voting and investment decisions.
Consequently, Clal notes in the Schedule 13G/A that the Schedule 13G/A will not constitute an admission that it is the beneficial owner
of more than the ordinary shares beneficially owned for its account.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -35.45pt"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(8)</td><td style="text-align: justify">Based on a Schedule 13G/A submitted on December 26, 2023 by The Phoenix Holdings Ltd., or Phoenix. Based
on the Schedule 13G/A, the 700,802 ordinary shares reported as beneficially owned by Phoenix consist of: (i) 26,869 ordinary shares held
by The Phoenix Investments House &#8211; trust funds, (ii) 69,642 ordinary shares held by The Phoenix nostro accounts, (iii) 564,963 ordinary
shares held by Partnership for Israeli Shares and (iv) 39,328 ordinary shares held by Partnership for investing in shares indexes. As
noted in the Schedule 13G/A, the Phoenix entities that hold the ordinary shares manage their own funds and/or the funds of others, including
for holders of exchange-traded notes or various insurance policies, members of pension or provident funds, unit holders of mutual funds,
and portfolio management clients and each of them operates under independent management and makes its own independent voting and investment
decisions. Consequently, Phoenix and each of such entities disclaims any beneficial ownership of the securities reported as beneficially
owned by them in excess of their actual pecuniary interest therein.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b><i>&#160;</i></b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Significant Changes in the Ownership of
Major Shareholders</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 7, 2022, Mr. Dov
Yelin, Mr. Yair Lapidot and Yelin Lapidot Holdings Management Ltd., or the Yelin Lapidot Reporting Persons submitted an amendment to their
Schedule 13G, indicating that as of December 31, 2021 they beneficially owned 1,735,076 ordinary shares, which at the time constituted
approximately 13.5% of our outstanding ordinary shares. On February 9, 2023, the Yelin Lapidot Reporting Persons submitted an amendment
to their Schedule 13G, indicating that as of December 31, 2022, they beneficially owned 1,741,299 ordinary shares, which at the time constituted
approximately 13.5% of our outstanding ordinary shares. On January 31, 2024, the Yelin Lapidot Reporting Persons submitted an amendment
to their Schedule 13G, indicating that as of December 31, 2023, they beneficially owned 1,632,040 ordinary shares, which at the time constituted
approximately 12.7% of our outstanding ordinary shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 10, 2022, Clal
submitted an amendment to its Schedule 13G indicating that as of December 31, 2021 it beneficially owned 1,<span style="font-family: Times New Roman, Times, Serif">309</span>,752
ordinary shares (including 56,115 ordinary shares underlying warrants that are exercisable within 60 days of December 31, 2021), which
at the time constituted approximately 10.15% of our outstanding ordinary shares. On February 13, 2023, Clal submitted an amendment to
its Schedule 13G indicating that as of December 31, 2022, it beneficially owned 1,422,498 ordinary shares (including 56,115 ordinary shares
underlying warrants that are exercisable within 60 days of December 31, 2022), which at the time constituted approximately 11.0% of our
outstanding ordinary shares. On February 14, 2024, Clal submitted an amendment to its Schedule 13G indicating that as of December 31,
2023, it beneficially owned 1,568,669 ordinary shares (including 56,115 ordinary shares underlying warrants that are exercisable within
60 days of December 31, 2023), which at the time constituted approximately 12.2% of our outstanding ordinary shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on information available
to us, during the year ended December 31, 2023, the 254,524 ordinary shares previously held by the estate of Mr. Hemi Raphael, constituting
approximately 2% of our outstanding ordinary shares, were transferred to Ms. Anat Raphael.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 26, 2023, Phoenix
submitted an amendment to its Schedule 13G indicating that it holds 700,802 ordinary shares, constituting approximately 5.5% of our outstanding
ordinary shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Record Holders</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt">Based on a review of the
information provided to us by our transfer agent, as of March 31, 2024, there were 27 record holders of ordinary shares, of which 9 represented
United States<sup>*</sup> record holders holding approximately 54.6% of our outstanding ordinary shares (including approximately 54.5%
of our outstanding ordinary shares held by the Depository Trust Company). This does not reflect persons or entities that hold ordinary
shares in nominee or &#8220;street name&#8221; through various brokerage firms and does not reflect where the beneficial holders of our
shares are located in part because the shares held by the Depository Trust Company include shares held for the Tel Aviv Stock Exchange
Clearing House.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left">*</td><td style="text-align: justify">Including the Depository Trust Company</td>
</tr></table><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>2008 Shareholders Agreement</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt">Pursuant to public filings
made and information provided by Kanir and Nechama Investments and their affiliates, on March 24, 2008, Kanir and Nechama Investments
entered into a shareholders agreement, or the 2008 Shareholders Agreement, with respect to their holdings of our ordinary shares. The
following summary is based on public filings made by the parties to the 2008 Shareholders Agreement, which include a more detailed description
of the 2008 Shareholders Agreement and a copy of such agreement and that are not incorporated by reference herein.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The parties to the 2008 Shareholders
Agreement agreed to vote all our ordinary shares held by them as provided in the 2008 Shareholders Agreement. Where the 2008 Shareholders
Agreement is silent as to a matter brought before our shareholders, the parties will agree in advance as to how they will vote. In the
event that the parties do not reach an agreement regarding any such matter, they will vote all of their ordinary shares against such matter.
In addition, the parties agreed to use their best efforts to amend our articles to require that, if so requested by at least two of our
directors, certain matters, such as related party transactions and any material change in the scope of our business, will require the
approval of a simple majority of the outstanding ordinary shares. At our annual shareholders meeting held on December 30, 2008, our shareholders
approved the adoption of our Second Amended and Restated Articles, as requested by Kanir and Nechama Investments and that includes, among
other things, the revisions contemplated in the 2008 Shareholders Agreement. For more information, see &#8220;Item 10.B: Memorandum of
Association and Second Amended and Restated Articles.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The parties to the 2008 Shareholders
Agreement further agreed to use their best efforts to ensure that the composition of our Board will be in accordance with the agreements
set forth therein.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The 2008 Shareholders Agreement
also contains certain agreements with respect to the ordinary shares held by each party that constitute, from time to time, 25.05% of
the outstanding ordinary shares and, in the aggregate, 50.1% of the outstanding ordinary shares (these shares are defined in the 2008
Shareholders Agreement as the Restricted Shares), including a lock-up period, right of first refusal, tag along and a buy/sell notice
mechanism.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The parties to the 2008 Shareholders
Agreement agreed not to enter into any additional voting or similar agreements with any of our other shareholders during the term of the
2008 Shareholders Agreement, which will be in effect so long as (i) the parties hold more than 50% of our outstanding ordinary shares
or (ii) each of the parties holds all of its Restricted Shares (unless the lending bank of the parties to the 2008 Shareholders Agreement
forecloses on its pledge on the Restricted Shares of either party, causing the immediate termination of the 2008 Shareholders Agreement).</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Registration Rights</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We previously executed various
registration rights agreements with certain entities and individuals, including former controlling shareholders, in connection with private
placements of our securities. Registration rights with respect to a majority of the ordinary shares held by our current controlling shareholders
were assigned from certain holders of such registration rights to our controlling shareholders, subject to the undertaking of the assignees
to be bound by and subject to the terms and conditions of the registration rights agreement. In September 2014, we received a demand for
registration from several shareholders, including our controlling shareholders, and filed a registration statement on Form F-3 with covering
the resale of 6,421,545, currently approximately 50% of our ordinary shares, which became effective on November 17, 2014. In June 2020,
we received a second demand to maintain the registration statement effective pursuant to the terms of the registration rights agreement
dated September 12, 2005. The registration of the shares included in this registration statement enable our controlling shareholders to
sell a significant portion of our ordinary shares without restrictions, which could result in a change of control of Ellomay or in us
ceasing to be a &#8220;controlled company&#8221; for purposes of the NYSE American LLC rules. For more information see &#8220;Item 16.G:
Corporate Governance.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>B.   Related
Party Transactions</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Management Services Agreement</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 30, 2008, following
the approval of our Audit Committee, Board of Directors and shareholders, we entered into the Prior Management Services Agreement with
Kanir and Meisaf, effective as of March 31, 2008, the date of appointment of Messrs. Fridrich and Nehama as members of our Board. The
initial aggregate annual consideration paid to Kanir and Meisaf pursuant to the Prior Management Services Agreement was an amount of $250,000
plus value added tax pursuant to applicable law, paid in equal parts. This aggregate annual amount was increased to $400,000 in 2013.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Prior Management Services
Agreement was amended and extended at our annual shareholders meeting held on June 19, 2019, and was to remain in effect until the earlier
of: (i) June 17, 2022, (ii) the termination of service of all of the Kanir and Nechama Investments nominees on our Board of Directors,
(iii) a date that is six (6) months following the delivery of a written termination notice by Meisaf and Kanir to the Company or by the
Company to Meisaf and Kanir, or (iv) the cessation of provision of Chairman and CEO services.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 12, 2020, Mr.
Hemi Raphael, who provided Board services to us through Kanir pursuant to the Prior Management Services Agreement, resigned from our Board
of Directors for personal reasons. Mr. Raphael passed away during December 2020. On March 29, 2021, our Audit and Compensation Committee
discussed the materiality of the cessation of services previously provided by the late Mr. Raphael under the Prior Management Services
Agreement through Kanir. The Audit and Compensation Committee resolved that in light of the change in scope of services from Kanir during
the first quarter of 2021, the payment due to Kanir under the Prior Management Services Agreement at the end of the first quarter of 2021
will be reduced to 66%, taking into account the reduction in the scope of services and the continued provision of services by Mr. Fridrich
during such period, including the appointment of Mr. Fridrich as a member of the Dorad Board of Directors, replacing late Mr. Raphael.
The Audit and Compensation Committee further resolved that following receipt of a benchmark report regarding similar agreements and further
discussions by the Audit and Compensation Committee, revisions to the Prior Management Services Agreement will be discussed and then presented
for the approval of our shareholders. At a meeting held on June 22, 2021, our Audit Committee resolved to pay the reduced payment mentioned
above also for the second quarter of 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At our 2021 Shareholders Meeting,
our shareholders approved the execution of the Management Services Agreement, among us, Kanir, Keystone and Meisaf, following the approvals
of our Audit and Compensation Committee and our Board of Directors, effective July 1, 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Management Services Agreement
provides, among other things, as follows:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Meisaf, Kanir and Keystone, through their employees, officers and directors, will assist us in all aspects
of the management of our company and advise as required from time to time by us;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">The position of the CEO, held by Mr. Fridrich, is set at a full-time position and the position of the
Chairman of the Board, held by Mr. Nehama, is set at no less than a 77% position;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">The CEO services will be provided by Mr. Fridrich through Kanir and Keystone, and the Chairman services
will be provided by Mr. Nehama through Meisaf;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Meisaf, Kanir and Keystone are entitled to receive reimbursement for reasonable out-of-pocket business
expenses borne by them or any of their employees, directors or officers in connection with the provision of the services;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">The management fees are as follows: (i) to Meisaf, an annual amount of NIS 1,386,000 (NIS 115,500 on a
monthly basis) plus applicable VAT and (ii) to Kanir and Keystone, an aggregate annual amount of NIS 1,800,000 (NIS 150,000 on a monthly
basis) plus applicable VAT, in an initial division of NIS 660,000 to Kanir and NIS 1,140,000 to Keystone or such other division as notified
in writing to the Company by Kanir and Keystone. The management fee is the full and final compensation for the provision of the services
and shall be in lieu of any and all payments that are due to the Service Providers as Board members, including the right to receive the
options to purchase ordinary shares of the Company in accordance with the Company&#8217;s 1998 Share Option Plan for Non-Employee Directors;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">The Management Services Agreement be in effect until the earlier of: (i) June 30, 2024, (ii) the termination
of service of Messrs. Nehama and Fridrich on our Board of Directors, (iii) a date that is six (6) months following the delivery of a written
termination notice by Meisaf, Kanir and Keystone to the Company or by the Company to Meisaf, Kanir and Keystone, or (iv) the cessation
of provision of Chairman and CEO services. In the event only Meisaf ceases to provide services or only Keystone and Kanir cease to provide
services, the Management Services Agreement will continue in full force and effect with respect to the other parties, mutatis mutandis;
and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Kanir, Meisaf and Keystone serve as independent contractors of the Company and each of them is solely
responsible to any payment it is required to pay its employees and representatives and undertake to indemnify the Company in the event
the Company suffers any damage due to a determination that any of them or their affiliates are employees of the Company.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For further information concerning
the Management Services Agreement, see &#8220;Item 10.C: Material Contracts&#8221; and the Management Services Agreement included as Exhibit
4.18 under &#8220;Item 19: Exhibits.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Employment of Mr. Asaf Nehama</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Asaf Nehama, the son of
Mr. Shlomo Nehama, one of our controlling shareholders, has been employed by us since October 1, 2022. At our 2022 Shareholders Meeting,
our shareholders approved, following the approvals of our Audit and Compensation Committee and Board of Directors, the terms of employment
for Mr. Asaf Nehama in an analyst position, effective October 1, 2022, which included a monthly gross salary of NIS 12,000 and other social
and ancillary benefits as required under applicable law and customary in the Company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During 2023, Mr. Asaf Nehama
has taken on additional responsibilities and started acting as a project manager in connection with our development activities of photovoltaic
fields in Texas, USA. At our 2023 Shareholders Meeting, our shareholders approved, following the approvals of our Audit and Compensation
Committee and Board of Directors, the following updated terms of employment of Mr. Asaf Nehama, effective October 1, 2023:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify"><i>Monthly Salary</i> &#8211; Mr. Asaf Nehama will receive a gross monthly salary of NIS 15,000 and a
monthly lump sum payment for overtime in the amount of NIS 8,000 (the monthly gross salary together with the monthly lump sum for overtime
(i.e. NIS 23,000, or currently approximately $5,700), the Salary).</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify"><i>Social and Ancillary Benefits</i> &#8211; Mr. Asaf Nehama will be entitled to all social benefits and
rights as required under applicable law (pension, severance pay, convalescence pay, etc.) and as customary in the Company, all based on
his Salary. Mr. Asaf Nehama will be subject to the provisions of Section 14 of the Severance Pay Law, 5723-1963. Mr. Asaf Nehama will
be entitled to sick leave under law and will be able to use the sick days as customary in the Company. The Company will deposit an amount
equal to 7.5% of the Salary to an advanced study fund per Mr. Asaf Nehama&#8217;s selection and shall deduct from his Salary an amount
equal to 2.5% of the Salary that shall be deposited in said advanced study fund as the employee&#8217;s share, as customary in the Company.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify"><i>Vacation</i> &#8211; Mr. Asaf Nehama will be entitled to paid vacation days as determined under the
Israeli Annual Vacation Law, 1951 plus two (2) days per year (pro rata) and will be entitled to transfer from year to year up to 15 vacation
days.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify"><i>Reimbursement of Expenses</i> &#8211; Mr. Asaf Nehama shall be entitled to reimbursement of expenses,
travel expenses and meal expenses based on the policies and amounts as customary in the Company, currently travel expenses in the amount
of NIS 300 per month and meal expenses in the amount of NIS 900 per month.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify"><i>Termination of Employment</i> &#8211; the notice period during the first six months of employment will
be pursuant to the Israeli Prior Notice of Termination Law, 2001 and thereafter 30 days, as customary in the Company.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For a further discussion of
transactions and balances with related parties see &#8220;Item 4.D: Property, Plants and Equipment&#8221; (with respect to the sublease
of office space to a company controlled by Mr. Nehama), &#8220;Item 6.B: Compensation,&#8221; &#8220;Item 6.C: Board Practices&#8221;
under &#8220;Indemnification, Exemption and Insurance of Executive Officers and Directors,&#8221; &#8220;Registration Rights&#8221; above
and Note 15 to our consolidated financial statements, which are included elsewhere in this report.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>C.   Interests
of Experts and Counsel</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><div><a id="aa_013"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 8:
Financial Information</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>A.   Consolidated
Statements and Other Financial Information.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Consolidated Statements</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our consolidated financial
statements are set forth in Item 18.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Legal Proceedings</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may from time to time become
a party to various legal proceedings in the ordinary course of our business. While the outcome of these matters cannot be predicted with
certainty, we do not believe they will have a material effect on our consolidated financial position, results of operations, or cash flows.
In addition, we are involved in various legal proceedings in connection with our holdings in Ellomay Luzon Energy and indirect holdings
in Dorad. For more information see &#8220;Item 4.B: Business Overview&#8221; under &#8220;The Dorad Power Plant&#8221; and Note 6 to our
<span style="font-family: Times New Roman, Times, Serif">annual financial statements included elsewhere in this Report.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Dividends</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March 18, 2015, our Board
of Directors adopted a dividend distribution policy, or the Policy, pursuant to which we intend to distribute a dividend of up to 33%
of our annual distributable profits each year, either by way of a cash dividend, a share buyback program or a combination of both. Distributions
or the amount or method of the distribution pursuant to the Policy are not guaranteed and are subject to the specific approval of our
Board of Directors, based on various factors they deem appropriate including, among others, our financial position, our outstanding liabilities
and contractual obligations, prospective acquisitions, our business plan and the market conditions. In addition, as described herein,
distributions are subject to the restrictions in the deeds of trust governing our Debentures. Our Board of Directors may, subject to the
circumstances and conditions stated above, declare additional dividend distributions, change the rate of a specific distribution or cancel
a distribution (either as a revision to the Policy or on a more temporary basis). In addition, our Board of Directors may, in its absolute
discretion and at any time, revise, update or terminate the Policy. Prior to the adoption of the Policy, we did not have a dividend distribution
policy or distribute cash dividends in the past. We did not repurchase any of our ordinary shares or declare or pay a cash dividend during
2021-2023.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The terms of the deeds of
trust governing our Debentures restrict our ability to distribute dividends (for more information see &#8220;Item 4.A: History and Development
of Ellomay; Recent Developments,&#8221; &#8220;Item 5.B: Liquidity and Capital Resources&#8221; and &#8220;Item 10.C: Material Contracts&#8221;).
In addition, u<span style="background-color: white">nder Israeli law, the payment of dividends is generally made from accumulated retained
earnings or retained earnings accrued over a period of the last two years (after deducting prior dividends to the extent not already deducted
from retained earnings), and in either case, provided there is no reasonable concern that the dividend will prevent the company from satisfying
current or foreseeable obligations as they become due. </span>Notwithstanding the foregoing, in the event a company does not have sufficient
accumulated retained earnings, dividends or repurchases of shares may be made with the approval of a court and a repurchase of shares
is also permissible under certain conditions, provided that there is no reasonable concern that payment of the dividend will prevent us
from satisfying our existing and foreseeable obligations as they become due.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>B.   Significant
Changes</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as otherwise disclosed
in this Report, no significant changes have occurred since December 31, 2023.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><div><a id="aa_014"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 9:
The Offer and Listing</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>A.    Offer
and Listing Details</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our ordinary shares are listed
on the NYSE American LLC and the TASE under the symbol &#8220;ELLO.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>B.    Plan
of Distribution</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>C.    Markets</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our ordinary shares have been
listed on the NYSE American LLC since August 22, 2011. Our trading symbol is &#8220;ELLO.&#8221; <span style="font-family: Times New Roman, Times, Serif">On
October 27, 2013, our ordinary shares were listed for trading on the Tel Aviv Stock Exchange under the symbol &#8220;ELLO.&#8221;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>D.   Selling
Shareholders</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>E.    Dilution</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>F.    Expenses
of the Issue</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><div><a id="aa_015"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 10:
Additional Information</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>A.   Share
Capital </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>B.   Memorandum
of Association and Second Amended and Restated Articles </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Memorandum of Association and Second Amended
and Restated Articles </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Set forth below is a brief
description of certain provisions contained in the Memorandum of Association, the Second Amended and Restated Articles, adopted by our
shareholders at our general meeting held on December 30, 2008, as amended, as well as certain statutory provisions of Israeli law. The
Memorandum of Association and the Articles are incorporated by reference herein. The description of certain provisions does not purport
to be a complete summary of these provisions and is qualified in its entirety by reference to such exhibits and to Israeli law.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>Authorized Share Capital</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our authorized share capital
is one hundred seventy million (170,000,000) New Israeli Shekels, divided into seventeen million (17,000,000) ordinary shares, NIS 10.00
par value per share.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Due to the fact that we were
incorporated prior to 1999, the year the Companies Law was enacted, a special majority of 75% of the shares voting on the matter is generally
required in order to amend our Memorandum, however, pursuant to our Memorandum, changes to our capital structure, such as an increase
in our authorized capital, only require the vote of a majority of the shares voting on the matter.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Purpose and Objective</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are a public company registered
under the Companies Law as Ellomay Capital Ltd., registration number 52-003986-8. Pursuant to Article 3.1 of our Articles, our objective
is to undertake any lawful activity, including any objective set forth in our Memorandum of Association. Pursuant to Article 3.2 of our
Articles, our purpose is to operate in accordance with commercial considerations with the intentions of generating profits. In addition,
we may contribute reasonable amounts for any suitable purpose even if such contributions do not fall within our business considerations.
The Board may determine the amounts of the contributions, the purpose for which the contribution is to be made, and the recipients of
any such contribution.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Board of Directors</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the Companies Law, our
Board is authorized to determine our strategy and supervise the performance of the duties and actions of our chief executive officer.
Our Board may not delegate to a committee of the Board or the chief executive officer the right to decide on certain of the authorities
vested in it, including determination of our strategy, distributions, certain issuances of securities and approval of financial reports.
The powers conferred upon the Board are vested in the Board as a collective body and not in each one or more of the directors individually.
Unless otherwise set forth in a resolution of the shareholders, our Articles provide that our Board shall consist of not less than four
(4) nor more than eight (8) directors (including any external directors whose appointment is mandated under the Companies Law).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the Companies
Law, publicly traded companies must appoint at least two external directors to serve on their board of directors and audit committee.
For further information concerning external directors see &#8220;Item 6.C: Board Practices.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Companies Law codifies
the fiduciary duties that an office holder has to a company. An office holder&#8217;s fiduciary duties consist of a duty of loyalty and
a duty of care. For more information concerning these duties, the approval process of certain transactions and other board practices see
&#8220;Item 6.C: Board Practices.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our directors generally cannot
approve compensation to themselves or any members of their body without the approval of our compensation committee and our shareholders.
For more details concerning the approval process of Terms of Service and Employment of office holders see &#8220;Item 6.C: Board Practices&#8221;
under &#8220;Compensation Committee.&#8221; Borrowing powers exercisable by the directors are not specifically outlined in our Articles.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">No person shall be disqualified
to serve as a director by reason of his not holding our shares in. Additionally, our Articles do not provide for an age in which directors
are required to retire.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Rights of Shareholders</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">No preemptive rights are granted
to holders of our ordinary shares under the Articles or the Companies Law. Each ordinary share is entitled to one vote on all matters
to be voted on by shareholders, including the election of directors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The directors, other than
external directors who are elected for three-year terms, are elected annually at a general meeting of shareholders and remain in office
until the next annual meeting at which time they retire, unless their office is previously vacated as provided in the Articles. A retiring
director may be reelected. If no directors are elected at the annual meeting, all of the retiring directors remain in office pending their
replacement at a general meeting. Holders of the ordinary shares do not have cumulative voting rights in the election of directors. Consequently,
the holders of ordinary shares in the aggregate conferring more than 50% of the voting power, represented in person or by proxy, will
have the power to elect all the directors. On March 24, 2008, in connection with the purchase of a controlling interest of our ordinary
shares, Nechama Investments and Kanir entered into the 2008 Shareholders Agreement. Under the 2008 Shareholders Agreement, both parties
agreed to vote all of our shares held by them as provided in the agreement and, where the agreement is silent, as the parties shall agree
prior to any meeting of our shareholders. In addition, the 2008 Shareholders Agreement provides that in the event the parties do not reach
an agreement regarding certain resolution proposed to our shareholders meeting, the parties shall vote all of their shares against such
proposed resolution. For further information with respect to the 2008 Shareholders Agreement, see &#8220;Item 7.A: Major Shareholders&#8221;
under the caption &#8220;2008 Shareholders Agreement.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Following the adoption of
the Articles at our general meeting of shareholders held on December 30, 2008, Article 25.5 provides that for so long as the 2008 Shareholders
Agreement is in effect, at the written request of any two directors with respect to any proposed action or transaction (including certain
related party transactions, any amendments to our Memorandum of Association or Articles, any merger or consolidation of the Company, any
material change in the scope of our business, the voluntary liquidation or dissolution of the Company, approval of annual budget or business
plan and material deviations therefrom and any change in signatory rights on behalf of the Company), such action or transaction shall
require the approval of our general meeting by a resolution supported by members present, in person or by proxy, vested with at least
50.1% of our outstanding shares, or by such higher approval threshold as may be required by Israeli law.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the Companies
Regulations (Relief for Companies whose Securities are Listed for Trading on a Stock exchange Outside of Israel), 2000, one or more shareholders
holding at least 5% of the voting rights at the general meeting may request the Board of Directors to include the election of a nominee
director or the removal of a director from office on the agenda of a future shareholders&#8217; meeting. Pursuant to the Companies Law,
other items may be included on the agenda of a future shareholders&#8217; meeting at the request of one or more shareholders holding at
least 1% of the voting rights to the extent such items are suitable for a general meeting.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Chairman of the Board</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Articles provide that
our Chairman of the Board shall have no casting vote, unless (i) the Chairman of the Board is then Mr. Shlomo Nehama and (ii) Nechama
Investments, together with any Affiliates (as defined in our Articles) thereof, then holds at least 25.05% of our outstanding shares.
Our Articles further provide that, notwithstanding the foregoing, in case Mr. Shlomo Nehama elects to exercise his casting vote in respect
of a specific resolution brought before our Board, or the Triggering Resolution, then (a) prior to such exercise, Nechama Investments
shall be required to trigger the &#8220;Buy Me Buy You&#8221; mechanism set forth in the 2008 Shareholders Agreement as an Offering Party
(as defined in the 2008 Shareholders Agreement), whereby the Triggering Resolution will be pending until the consummation of the sale
of the Restricted Shares (as defined in the 2008 Shareholders Agreement) of one party to the 2008 Shareholders Agreement to the other
party of the 2008 Shareholders Agreement in accordance with such &#8220;Buy Me Buy You&#8221; mechanism; and (b) in the event that three
(3) of the members of our Board so require, the Triggering Resolution shall be conditioned upon the approval of our general meeting pursuant
to Article 25.1 of the Articles (requiring a special majority of 50.1% of our outstanding shares). Upon a transfer of the Restricted Shares
by Kanir to third party in accordance with the terms of the 2008 Shareholders Agreement, the casting vote of the Chairman of the Board
shall expire.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Dividends and Liquidation Rights</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board of Directors is
authorized to declare dividends, subject to applicable law. Dividends may be paid only out of profits and other surplus, as defined in
the Companies Law, as of the end of the most recent financial statements or as accrued over a period of two years, whichever is higher.
Alternatively, if we do not have sufficient profits or other surplus, then permission to effect a distribution can be granted by order
of an Israeli court. In any event, a distribution is permitted only if there is no reasonable concern that the distribution will prevent
us from satisfying our existing and foreseeable obligations as they become due.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon recommendation by the
Board, dividends may be paid, in whole or in part, by the distribution of certain of our specific assets, of our shares or debentures,
or shares or debentures of any other company, or in any combination of such manners. Subject to special or restricted rights conferred
upon the holders of shares as to dividends, if any, the dividends shall be distributed in accordance with our paid-up capital attributable
to the shares for which the dividend has been declared. Our obligation to pay dividends or any other amount in respect of shares may be
set-off against any indebtedness, however arising, liquidated or non-liquidated, of the person entitled to receive the dividend. Any dividend
unclaimed within the period of seven years from the date stipulated for its payment shall be forfeited and returned to us, unless otherwise
directed by our Board. In the event of the winding up of Ellomay, then, after satisfaction of liabilities to creditors and subject to
provisions of any applicable law and to any special or restricted rights attached to a share, our assets in excess of our liabilities
will be distributed among the shareholders in proportion to the paid-up capital attributable to the shares in respect of which the distribution
is being made. Dividend and liquidation rights may be affected by the grant of preferential dividends or distribution rights to the holders
of a class of shares with preferential rights that may be authorized in the future.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For more information concerning
our dividend distribution policy see &#8220;Item 8.A: Financial Information &#8211; Consolidated Statements and Other Financial information,&#8221;
under the heading &#8220;Dividends.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Redemption Provisions</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may, subject to any applicable
law, issue redeemable securities and then redeem them.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Liability to Capital Calls </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The liability of our shareholders
for the indebtedness of the Company is limited to payment of the nominal value of the shares held by them.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Certain Transactions with Controlling Persons</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">No provision in the Articles
discriminates against an existing or prospective holder of securities, as a result of such shareholder owning a substantial amount of
shares. However, the Companies Law extends the disclosure requirements applicable to office holders as described in &#8220;Board Practices&#8221;
under &#8220;Management&#8221; above, to a controlling shareholder in a public company. For purposes of the issues described in these
paragraphs, the Companies Law defines a controlling shareholder a shareholder who can direct the activities of the company, including
a presumption that a person who holds 25% or more of the voting rights at the company&#8217;s general meeting, provided there is no other
person that holds more than 50% of the voting rights in such company, is a controlling shareholder. If two or more shareholders are interested
parties in the same transaction, their shareholdings are combined for the purposes of calculating the percentages held by them. If two
or more shareholders are parties to a voting agreement, their interests are also generally combined for the purposes of calculating percentages.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;Extraordinary Transactions&#8221;
(as such term is defined by the Companies Law and as set forth in &#8220;Board Practices&#8221; under &#8220;Management&#8221; above)
of a public company with its controlling shareholder or with another person if the controlling shareholder has a personal interest in
such transaction, including certain private offering of securities in which the controlling shareholder has a personal interest, a transaction
between a company and a controlling shareholder or her or his relative, directly or indirectly, including through a company controlled
by her or him, relating to the receipt by the company of services from her or him, and, if such controlling shareholder or her or his
relative are office holders, a transaction in connection with their Terms of Service and Employment or, if he or she is an employee of
the company and not an office holder, a transaction of the company with such person in connection with his or her employment by the company,
all are required to be for the benefit of the company and require the approval of the audit committee, the board of directors and the
shareholders. The shareholders&#8217; approval of such a transaction requires a simple majority approval and the fulfillment of one of
the following conditions: (i) at least a majority of the votes cast by shareholders who have no personal interest in the transaction and
who vote on the matter are voted in favor of the transaction, or (ii) the votes cast by shareholders who have no personal interest in
the transaction voted against the transaction do not represent more than two percent of the voting rights in the company. In addition,
any such transaction with a term that exceeds three years requires approval as described above every three years, unless (with respect
only to extraordinary transactions and not to other transactions that require the special approval process) the audit committee approves
that a longer term is reasonable under the circumstances. For more information concerning the roles of the audit committee in connection
with related party transactions, including a recent amendment to the Companies Law, see &#8220;Item 6.C: Board Practices.&#8221; For more
information concerning the approval process and requirements in connection with the Terms of Service and Employment of controlling shareholders
and their relatives see &#8220;Item 6.B: Compensation.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the Relief Regulations,
certain extraordinary transactions between a company and its controlling shareholder(s), certain undertakings of a company to its directors
in connection with their terms of service and certain transactions between a company and its controlling shareholder(s) or their relatives
in their capacity as office holders or employees of the company may be approved, if the conditions set forth in such regulations are met,
without the requirement to obtain shareholder approval. The Relief Regulations require that the company&#8217;s audit committee and board
of directors determine that the conditions set forth in the Relief Regulations are met. One of the alternative conditions for approving
an extraordinary transaction with a controlling shareholder is that such transaction only benefits the company. Another available condition
is that the transaction is in the ordinary course of business, on market terms, and does not harm the company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Changing Rights Attached to Shares</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">According to our Articles,
in order to change the rights attached to any class of shares, unless otherwise provided by the terms of the class, such change must be
adopted by a general meeting of the shareholders and by a separate general meeting of the holders of the affected class by the majority
that is generally required for the amendment of the Articles or, if higher, the Memorandum. The provisions of the Articles relating to
general meetings of our shareholders shall apply, mutatis mutandis, to any separate general meeting of the holders of the shares of a
specific class; provided, however, that the requisite quorum at any such separate general meeting shall be one or more members present
in person or by proxy and holding not less than thirty three and one third percent (33 1/3%) of the issued shares of such class.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the Companies
Law, the quorum requirement for general meetings and for separate general meetings for holders of a specific class may be satisfied with
the presence of at least two members present in person or by proxy and holding not less than 25% of the outstanding shares, or the shares
of such class, as the case may be.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Annual and Extraordinary Meetings of our Shareholders</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the Companies
Law, an annual meeting of shareholders must be held once in every calendar year at such time (within a period of not more than fifteen
months after the preceding annual meeting) and at such place as may be determined by the board of directors. The board of directors may,
at any time, convene extraordinary general meetings of shareholders, and shall be obligated to do so upon receipt of a requisition in
writing from any of the following: (i) two directors or one quarter of the directors holding office; (ii) one or more shareholders holding
at least 10% of the issued capital and at least 1% of the voting rights in the Company; or (iii) one or more shareholders holding at least
10% of the voting rights in the Company. A requisition must detail the objects for which the meeting must be convened and shall be signed
by the persons requisitioning it and sent to the Company&#8217;s registered office. When the board of directors is required to convene
a special meeting, it shall do so within 21 days of the requisition being submitted. In the event the board of directors does not convene
the extraordinary meeting despite the receipt of a valid requisition, the persons requisitioning the meeting may convene the meeting themselves,
provided that such meeting shall not be held more than three months following the delivery of the requisition and will be convened, to
the extent possible, in the same manner as general meetings are convened by the board of directors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Prior to any general meeting
a written notice thereof shall be made public as required by Israeli law. The Articles provide that we shall not be required to deliver
notice to each shareholder, except as may be specifically required by Israeli law. The Articles further provide that a notice by us of
a general meeting that is published in one international wire service shall be deemed to have been duly given on the date of such publication.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Two or more members present
in person or by proxy and holding shares conferring in the aggregate more than 25% of the total voting power attached to our shares shall
constitute a quorum at general meetings. If a meeting is adjourned due to the lack of a quorum, any two shareholders, present in person
or by proxy at the subsequent adjourned meeting, will constitute a quorum. Unless provided otherwise by the terms of issue of the shares,
no member shall be entitled to be present or vote at a general meeting (or to be counted as part of the quorum) unless all amounts due
as of the date designated for same general meeting with respect to his shares were paid. A resolution shall be deemed adopted if the requisite
quorum is present and the resolution is supported by members present, in person or by proxy, vested with more than fifty percent (50%)
of the total voting power attached to the shares whose holders were present, in person or by proxy, at such meeting and voted thereon,
or such other percentage required by law or set forth in the Articles from time to time.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Limitations on the Rights to Own Securities
in Our Company</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Memorandum of Association
and Articles and the laws of the State of Israel do not restrict in any way the ownership or voting of ordinary shares by non-residents,
except that shares held by citizens of countries which are in a state of war with Israel will not confer any rights to their holders unless
the Ministry of Finance consents otherwise.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Anti-takeover Provisions; Mergers and Acquisitions
under Israeli Law</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Companies Law permits
merger transactions with the approval of each party&#8217;s board of directors and generally requires shareholder approval as well. A
merger with a wholly owned subsidiary does not require approval of the target company&#8217;s shareholders. A merger does not require
approval of the surviving company&#8217;s shareholders if: (i) the merger does not require the adoption of amendments to the surviving
company&#8217;s memorandum of association or articles and (ii) the surviving company does not issue more than 20% of its voting power
in connection with the merger and as a result of the issuance no shareholder would become a controlling shareholder (for this purpose
any securities convertible into shares of the surviving company that such person holds or that are issued to him in the course of the
merger are deemed to have been converted or exercised). Shareholder approval of the surviving company would nevertheless be required if
the other party to the merger, or a person holding more than 25% of the outstanding voting shares or means of appointing the board of
directors of the other party to the merger, holds any shares of the surviving company. In accordance with the Companies Law, our Articles
provide that a merger may be approved at a shareholders meeting by a majority of the voting power represented at the meeting, in person
or by proxy, and voting on that resolution. The Companies Law provides that in determining whether the required majority has approved
the merger, shares held by the other party to the merger, any person holding at least 25% of the outstanding voting shares or means of
appointing the board of directors of the other party to the merger, or the relatives or companies controlled by these persons, are excluded
from the vote. As described above, our Articles currently provide, under certain circumstances, including a merger of the Company, that
two directors may require that, in addition to the majority prescribed by the Companies Law, a merger be approved by a resolution supported
by shareholders present, in person or by proxy, vested with at least 50.1% of our outstanding shares. For additional voting requirements
that may apply to us pursuant to Article 25.5 of our Articles in connection with a proposed merger see &#8220;Rights of Shareholders&#8221;
above.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

</div><!-- Field: Page; Sequence: 169; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->161<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the Companies Law, a
merging company must inform its creditors of the proposed merger. Any creditor of a party to the merger may seek a court order blocking
the merger, if there is a reasonable concern that the surviving company will not be able to satisfy all of the obligations of the parties
to the merger. Moreover, a merger may not be completed until at least 50 days have passed from the time that a merger proposal was filed
with the Israeli Registrar of Companies and 30 days have passed from the shareholder approval of the merger in each merging company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Companies Law provides
that an acquisition of shares in a public company must be made by means of a tender offer if as a result of the acquisition the purchaser
would hold 25% or more of the voting rights in the company. This rule does not apply if there is already another holder of 25% or more
of the voting rights in the company. Similarly, the Companies Law provides that an acquisition of shares in a public company must be made
by means of a tender offer if as a result of the acquisition the purchaser would hold greater than 45% of the voting rights in the company,
unless there is another shareholder holding more than 45% of the voting rights in the company. These requirements do not apply if, in
general, the acquisition: (1) was made in a private placement that received shareholder approval as a private placement and was meant
to grant the purchaser 25% or more of the voting rights of a company in which no other shareholder holds 25% or more of the voting rights,
or to grant the purchaser more than 45% of the voting rights of a company in which no other shareholder holds more than 45% of the voting
rights, (2) was from a holder of 25% or more of the voting rights in the company which resulted in the acquiror holding 25% or of the
voting rights in the company, or (3) was from a shareholder holding more than 45% of the voting rights in the company which resulted in
the acquiror becoming a holder of more than 45% voting rights in the company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If, as a result of an acquisition
of shares, the acquiror will hold more than 90% of a company&#8217;s outstanding shares, the acquisition must be made by means of a tender
offer for all of the outstanding shares, or a full tender offer. A full tender offer is accepted if either: (i) holders of less than 5%
of the outstanding shares do not accept the tender offer and more than half of the offerees who do not have a personal interest in accepting
the tender offer accepted it, or (ii) holders of less than 2% of the outstanding shares do not accept the tender offer. If the full tender
offer is not accepted, then the acquiror may not acquire shares in the tender offer that will cause his shareholding to exceed 90% of
the outstanding shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

</div><!-- Field: Page; Sequence: 170; Value: 1 --><div>
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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Companies Law provides
for appraisal rights in the event a full tender offer is accepted if the shareholder files a request with the court within six months
following the consummation of a full tender offer. The acquirer may provide in the tender offer documents that any shareholder that accepted
the offer and tendered his shares will not be entitled to appraisal rights.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Duties of Shareholders and of Controlling Shareholders</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the Companies Law, a
shareholder has a duty to act in good faith towards the company and other shareholders and to refrain from abusing his or her power in
the company including, among other things, when voting in a general meeting of shareholders or in a class meeting on the following matters:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">a.</td><td style="text-align: justify">any amendment to the articles;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">b.</td><td style="text-align: justify">an increase in the company&#8217;s authorized share capital;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">c.</td><td style="text-align: justify">a merger; or</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">d.</td><td style="text-align: justify">approval of related party transactions that require shareholder approval.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A shareholder also has a general
duty to refrain from depriving any other shareholders of their rights as shareholders.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, a duty to act
with fairness towards the company is imposed on: (i) anyone who controls a company, i.e. a person that has the ability to direct the activity
of a company, excluding an ability deriving merely from holding an officer or director or another office in the company (a person shall
be presumed to control a corporation if he or she holds half or more of certain means of control, i.e. rights to vote at a general meeting
and the right to appoint directors or general manager), (ii) any shareholder who knows that it possesses the power to determine the outcome
of a shareholder vote and (iii) any shareholder who has the power to appoint or prevent the appointment of an office holder in the company.
The Companies Law does not describe the substance of this duty of fairness.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>C.   Material
Contracts</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Management Services Agreement with Meisaf,
Kanir and Keystone</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For details concerning the
Management Services Agreement, see &#8220;Item 7.B: Related Party Transactions.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>The description of the
Management Services Agreement is only a summary and does not purport to be complete and is qualified by reference to the full text of
the Management Services Agreement filed by us as Exhibit 4.18 under &#8220;Item 19: Exhibits.&#8221;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Agreements in connection with the Investment
in Ellomay Luzon Energy</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Summaries of the material
agreements executed in connection with our investment in Ellomay Luzon Energy are included as Exhibits 4.7 and 4.8 under &#8220;Item 19:
Exhibits.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 171; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->163<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>Deeds of Trust governing our Debentures</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For a description of our debt
agreements, including the Deed of Trusts governing our Series C Debentures, Series D Convertible Debentures and Series E Secured Debentures,
see &#8220;Item 5.B: Operating and Financial Review and Prospects &#8211; Liquidity and Capital Resources&#8221; and for a description
of the Deed of Trust governing our Series F Debentures see &#8220;Item 4.A: History and Development of Ellomay; Recent Developments.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>The aforementioned descriptions
of the Deeds of Trust governing our Debentures are only summaries and do not purport to be complete and is qualified by reference to the
convenience translation of such Deeds of Trust filed by us as Exhibits 4.15, 4.17, 4.20 and 4.24 under &#8220;Item 19: Exhibits.&#8221;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>D.   Exchange
Controls</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dividends, if any, paid by
us to the holders of our ordinary shares, and any amounts payable upon our dissolution, liquidation or winding up, as well as the proceeds
of any sale in Israel of our ordinary shares to an Israeli resident, may be paid in non-Israeli currency. If these amounts are paid in
Israeli currency, they may be converted into U.S. dollars at the rate of exchange prevailing at the time of conversion. However, legislation
remains in effect pursuant to which currency controls can be imposed by administrative action at any time.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
State of Israel does not restrict in any way the ownership or voting of ordinary shares of Israeli entities by non-residents of Israel,
except with respect to subjects of countries that are in a state of war with Israel.</span> In addition, there are currently no limitations
on our ability to import and export capital.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>E.   Taxation
</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Israeli Taxation </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is a summary
of the material Israeli tax consequences and Israeli foreign exchange regulations as they relate to our shareholders and us. This discussion
is based on our best knowledge and interpretation of the Israeli Income Tax Ordinance, the regulations promulgated thereunder and Israeli
tax law generally. To the extent that the discussion is based on new tax or other legislation that has not been subject to judicial or
administrative interpretation, there can be no assurance that the views expressed in the discussion will be accepted by the tax or other
authorities in question. <b>The discussion is not intended, and should not be construed, as legal or professional tax advice and is not
exhaustive of all possible tax considerations.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>General Corporate Tax Structure</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Israeli companies are generally
subject to corporate tax on their taxable income. The Israeli corporate tax rate has been 23% as from January 2018, according to section
126 of the Israeli Income Tax Ordinance.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Capital Gains Tax on Sales of Our Ordinary
Shares </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Israeli law generally imposes
a capital gains tax on the sale of any capital assets by residents of Israel, as defined for Israeli tax purposes, and on the sale of
capital assets by a non-resident of Israel if those assets (i) are located in Israel, (ii) are shares or a right to shares in an Israeli
resident corporation, (iii) represent, directly or indirectly, rights to assets located in Israel, or (iv) are a right in a foreign resident
corporation, which in its essence is the owner of a direct or indirect right to property located in Israel (with respect to the portion
of the gain attributed to the property located in Israel), unless a specific exemption is available or unless a tax treaty between Israel
and the shareholder&#8217;s country of residence provides otherwise. The law distinguishes between real capital gain and inflationary
surplus. The inflationary surplus is a portion of the total capital gain, which is equivalent to the increase of the relevant asset&#8217;s
purchase price, which is attributable to the increase in the Israeli consumer price index between the date of purchase and the date of
sale. The real capital gain is the excess of the total capital gain over the inflationary surplus.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Taxation of Israeli Residents </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The tax rate applicable to
capital gains derived from the sale of shares, whether listed on a stock market or not, is the marginal tax rate according to Section
121 of the Israeli Income Tax Ordinance but up to 25% for Israeli individuals, and the real capital gain shall be deemed the highest bracket
of the individual&#8217;s taxable income, unless such shareholder claims a deduction for financing expenses in connection with such shares,
in which case the gain will generally be taxed at a rate of 30%, until the promulgation of regulations setting forth the rules and conditions
for deduction of real interest and linkage differentials pursuant to Section 101A(a)(9) and 101A(b) of the Israeli Income Tax Ordinance.
Additionally, if such shareholder is considered a &#8220;significant shareholder&#8221; at any time during the 12-month period preceding
such sale (i.e., such shareholder holds directly or indirectly, including jointly with others, at least 10% of any means of control in
the company) the tax rate will be 30%. However, different tax rates may apply to dealers in securities and shareholders who acquired their
shares prior to an initial public offering. Israeli companies are subject to the corporate tax rate as specified in Section 126 of the
Israeli Income Tax Ordinance on capital gains derived from the sale of shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Taxation of Non-Israeli Residents</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Non-Israeli residents are
generally exempt from Israeli capital gains tax on any gains derived from the sale of shares of Israeli companies publicly traded on a
recognized stock market in Israel, under Section 97(B2) of the Israeli Income Tax Ordinance, or on a recognized stock market outside of
Israel, provided such shareholders did not acquire their shares prior to the issuer&#8217;s initial public offering and that the gains
did not derive from a permanent establishment of such shareholders in Israel and that such shareholders are not subject to the Inflationary
Adjustments Law. However, non-Israeli corporations will not be entitled to such exemption if an Israeli resident (i) has a controlling
interest of 25% or more in such non-Israeli corporation, or (ii) is the beneficiary or is entitled to 25% or more of the revenues or profits
of such non-Israeli corporation, whether directly or indirectly as specified in Section 68A of the Israeli Income Tax Ordinance.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, the sale, exchange
or disposition of our ordinary shares by a shareholder who is a U.S. resident (for purposes of the U.S.-Israel Tax Treaty) holding ordinary
shares as a capital asset is also exempt from Israeli capital gains tax under the U.S.-Israel Tax Treaty unless either (i) the shareholder
holds, directly or indirectly, shares representing 10% or more of our voting power during any part of the 12-month period preceding such
sale, (ii) the shareholder, if an individual, is present in Israel for more than 183 days during the taxable year, or (iii) the capital
gains arising from such sale are attributable to a permanent establishment of the shareholder located in Israel. If the above conditions
are not met, the U.S. resident would be subject to Israeli tax, to the extent applicable; however, under the U.S.-Israel Tax Treaty, the
gain would be treated as foreign source income for United States foreign tax credit purposes.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Taxation on Dividends paid to a Shareholder</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Taxation of Israeli Residents</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Individuals who are Israeli
residents are generally subject to Israeli income tax on the receipt of dividends paid on our ordinary shares at the rate of 25%, unless
the recipient is a &#8220;significant&#8221; shareholder (as defined above) at any time during the 12-month period preceding the distribution,
in which case the applicable tax rate is 30%. The company distributing the dividend is required to withhold tax at the rate of 25% (a
different rate may apply to dividends paid on shares deriving from the exercise of stock options or other equity-based awards granted
as compensation to employees or office holders of the company) or 30%, as applicable. For companies that are Israeli residents, dividends
from another Israeli company will generally not be included in their taxable income, unless the source of such dividends is located outside
of Israel, in which case tax will generally apply at the rate set forth in Section 126 of the Israeli Income Tax Ordinance.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Taxation of Non-Israeli Residents</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Non-residents of Israel are
generally subject to Israeli income tax on the receipt of dividends paid on our shares at the rate of 25% or 30%, if such person (including
a non-Israeli corporation) is a substantial shareholder at the time of recipient of the dividend or on any date in the 12 months preceding
such date, which tax will be withheld at the source, unless a different rate is provided in a tax treaty between Israel and the shareholder&#8217;s
country of residence, subject to obtaining appropriate approval from the Israel Tax Authority in advance, to the extent granted. Under
the U.S.-Israel Tax Treaty, the maximum rate of tax withheld in Israel on dividends paid to a holder of our ordinary shares who is a U.S.
resident (for purposes of the U.S.-Israel Tax Treaty) is 25%.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. Tax Considerations Regarding Ordinary
Shares</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is a general
summary of the material United States federal income tax consequences relating to the acquisition, ownership and disposition of our ordinary
shares by a U.S. Holder (as defined below) that holds those ordinary shares as capital assets within the meaning of Section 1221 of the
Internal Revenue Code of 1986, as amended, or the Code. This summary is based on the tax laws of the United States, and existing final,
temporary and proposed Treasury Regulations, administrative pronouncements and judicial decisions, as in effect on the date hereof, all
of which are subject to prospective and retroactive changes, and to differing interpretations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This summary does not address
all federal income tax consequences that may be relevant to particular persons, and does not take into account the specific circumstances
of any particular persons, including, but not limited to:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-size: 10pt">a.</span></td><td style="text-align: justify"><span style="font-size: 10pt">tax-exempt
                                            entities or any individual retirement account or Roth IRA;</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-size: 10pt">b.</span></td><td style="text-align: justify"><span style="font-size: 10pt">banks and
                                            other financial institutions;</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-size: 10pt">c.</span></td><td style="text-align: justify"><span style="font-size: 10pt">insurance
                                            companies;</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-size: 10pt">d.</span></td><td style="text-align: justify"><span style="font-size: 10pt">real estate
                                            investment trusts and regulated investment companies;</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-size: 10pt">e.</span></td><td style="text-align: justify"><span style="font-size: 10pt">broker-dealers;</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-size: 10pt">f.</span></td><td style="text-align: justify"><span style="font-size: 10pt">traders in
                                            securities that elect to use a mark-to-market method of accounting for their securities holdings;</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-size: 10pt">g.</span></td><td style="text-align: justify"><span style="font-size: 10pt">persons liable
                                            for alternative minimum tax;</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-size: 10pt">h.</span></td><td style="text-align: justify"><span style="font-size: 10pt">&#8220;U.S.
                                            shareholders&#8221; (as defined in Code Section 951(b), generally persons owning directly,
                                            indirectly or constructively at least 10% of our shares by vote or value);</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-size: 10pt">i.</span></td><td style="text-align: justify"><span style="font-size: 10pt">persons that
                                            hold ordinary shares as part of a straddle, hedge, conversion transaction or other integrated
                                            transaction;</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-size: 10pt">j.</span></td><td style="text-align: justify"><span style="font-size: 10pt">U.S. expatriates;</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-size: 10pt">k.</span></td><td style="text-align: justify"><span style="font-size: 10pt">persons whose
                                            functional currency is not the U.S. dollar;</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-size: 10pt">l.</span></td><td style="text-align: justify"><span style="font-size: 10pt">persons that
                                            are residents of or have a permanent establishment in a jurisdiction outside the United States
                                            or persons who are not U.S. Holders;</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-size: 10pt">m.</span></td><td style="text-align: justify"><span style="font-size: 10pt">persons who
                                            acquired the shares pursuant to the exercise of any employee share option or otherwise as
                                            compensation; and</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-size: 10pt">n.</span></td><td style="text-align: justify"><span style="font-size: 10pt">partnerships
                                            or a partner in a partnership.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0in"><span style="font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If a partnership (including
for this purpose any entity treated as a partnership for U.S. tax purposes) is a beneficial owner of our ordinary shares, the U.S. tax
treatment of a partner in the partnership will generally depend on the status of the partner and the activities of the partnership. A
holder of our ordinary shares that is a partnership and partners in such partnership should consult their individual tax advisors about
the U.S. federal income tax consequences of holding and disposing of our ordinary shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This summary does not address
any aspect of United States federal gift or estate tax or state, local or foreign tax laws.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">ACCORDINGLY, PERSONS CONSIDERING
THE PURCHASE OF ORDINARY SHARES SHOULD CONSULT THEIR OWN TAX ADVISORS CONCERNING THE APPLICATION OF UNITED STATES FEDERAL TAX LAWS, AS
WELL AS THE LAWS OF ANY STATE, LOCAL OR FOREIGN TAXING JURISDICTION, TO THEIR PARTICULAR SITUATIONS.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For purposes of this discussion,
a &#8220;U.S. Holder&#8221; is any beneficial owner of our ordinary shares that, for U.S. federal income tax purposes, is:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in">(1)</td><td style="text-align: justify">an individual citizen or resident of the United States;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in">(2)</td><td style="text-align: justify">a corporation or other entity taxable as a corporation for U.S. federal income tax purposes created or
organized in or under the laws of the United States or any political subdivision thereof;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in">(3)</td><td style="text-align: justify">an estate the income of which is subject to U.S. federal income tax without regard to its source; or</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in">(4)</td><td style="text-align: justify">a trust, if such trust was in existence on August 20, 1996 and has validly elected to be treated as a
U.S. person for U.S. federal income tax purposes, or if (a) a court within the U.S. can exercise primary supervision over its administration
and (b) one or more U.S. persons have the authority to control all of the substantial decisions of such trust.</td></tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Taxation of U.S. Holders</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Distributions on Ordinary
Shares.</i> Subject to the discussion in &#8220;Passive Foreign Investment Company&#8221; below, distributions made by us with respect
to ordinary shares generally will constitute dividends for federal income tax purposes and will be taxable to a U.S. Holder as a dividend
to the extent of our undistributed current or accumulated earnings and profits (as determined for United States federal income tax purposes).
Distributions in excess of our current and accumulated earnings and profits will be treated first as a nontaxable return of capital reducing
the U.S. Holder&#8217;s tax basis in the ordinary shares, thus increasing the amount of any gain (or reducing the amount of any loss)
which might be realized by such U.S. Holder upon the sale or exchange of such ordinary shares. Any such distributions in excess of the
U.S. Holder&#8217;s tax basis in the ordinary shares will be treated as gain from the sale or exchange of our ordinary shares. Dividends
paid by us generally will not be eligible for the dividends received deduction available to certain corporate U.S. Holders.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">With respect to non-corporate
U.S. Holders, dividends may qualify as &#8220;qualified dividend income&#8221; which is eligible for reduced rates of taxation provided
that (1) we are eligible for the benefits of the income tax treaty between the United States and Israel or with respect to any dividend
paid on shares which are readily tradable on an established securities market in the United States; (2) we are not a PFIC (as defined
below) for either the taxable year in which the dividend was paid or the preceding taxable year; (3) the U.S. Holder satisfies certain
holding period requirements; and (4) the U.S. Holder is not under an obligation to make related payments with respect to positions in
substantially similar or related property. A corporate U.S. Holder (and a non-corporate U.S. Holder that fails to satisfy the applicable
holding period requirements) is taxable at ordinary rates on dividends received.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A dividend paid in New Israeli
Shekel will be included in gross income in a U.S. dollar amount based on the NIS/U.S. dollar exchange rate in effect on the date the dividend
is included in the income of the U.S. Holder, regardless of whether the payment, in fact, is converted into U.S. dollars. Generally, any
gain or loss resulting from currency exchange fluctuations during the period from the date the dividend payment is included in the gross
income of a U.S. Holder through the date that payment is converted into U.S. dollars (or otherwise disposed of) will be treated as U.S.
source ordinary income or loss and will not be eligible for the special tax rate applicable to qualified dividend income.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to certain conditions
and limitations, any Israeli withholding tax imposed upon distributions which constitute dividends under United States federal income
tax law will be eligible for credit against a U.S. Holder&#8217;s federal income tax liability. Alternatively, a U.S. Holder may claim
a deduction for such amount, but only for a year in which a U.S. Holder elects to do so with respect to all foreign income taxes. The
overall limitation on foreign taxes eligible for credit is calculated separately with respect to specific classes of income. For this
purpose, dividends distributed with respect to our ordinary shares will generally constitute &#8220;passive income.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Sale or Exchange of Ordinary
Shares.</i> Subject to the discussion in &#8220;Passive Foreign Investment Company&#8221; below, a U.S. Holder of ordinary shares generally
will recognize capital gain or loss upon the sale or exchange of the ordinary shares measured by the difference between the amount realized
and the U.S. Holder&#8217;s tax basis in the ordinary shares. Any such capital gain will be long-term capital gain or loss if the U.S.
Holder&#8217;s holding period in our ordinary shares is more than one year. Subject to the discussion in &#8220;Medicare Tax&#8221; below,
tax rates for the long-term capital gain to an individual U.S. Holder will be at a maximum rate of 20%. Gain or loss will be computed
separately for each block of ordinary shares sold (ordinary shares acquired separately at different times and prices). The deductibility
of capital losses is restricted and generally may only be used to reduce capital gains to the extent thereof. However, individual taxpayers
generally may deduct annually $3,000 of capital losses in excess of their capital gains.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Medicare Tax.</i> Subject
to specific requirements, certain U.S. Holders will be subject to a 3.8% Medicare tax (in addition to otherwise applicable federal income
tax) on their investment income and gain, with limited exceptions. U.S. Holders should consult with their tax advisors regarding the effect,
if any, of this tax on the ownership and disposition of our ordinary shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Passive Foreign Investment
Company.</i> A foreign corporation generally will be treated as a &#8220;passive foreign investment company,&#8221; or PFIC, if, after
applying certain &#8220;look-through&#8221; rules, either (1) 75% or more of its gross income is passive income or (2) 50% or more of
the average value of its assets is attributable to assets that produce or are held to produce passive income. Passive income for this
purpose generally includes dividends, interest, rents, royalties and gains from securities and commodities transactions. The look-through
rules require a foreign corporation that owns at least 25%, by value, of the stock of another corporation to treat a proportionate amount
of assets and income of the other corporation as held or received directly by such foreign corporation. We must make a separate determination
each year as to whether we are a PFIC. As a result, our PFIC status may change. The determination of whether or not we are a PFIC depends
on the composition of our income and assets, including goodwill, from time to time.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on our income and/or
assets, we believe that we were a PFIC from 2008 through 2012. Since PFIC shares are subject to the PFIC rules even in future years in
which we are no longer a PFIC, our ordinary shares will be PFIC shares with respect to any U.S. Holder that held our ordinary shares in
2008 through 2012. Based on our income and assets, we do not believe that we were a PFIC from 2013 through 2023. However, because the
determination of whether we are, or will be, a PFIC for a taxable year depends, in part, on the application of complex U.S. federal income
tax rules, which are subject to various interpretations, there is a risk that the Internal Revenue Service may disagree with our determinations
regarding our prior or present PFIC status. In addition, depending on future events, we could become a PFIC in future years.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">U.S. Holders who own our ordinary
shares during a taxable year in which we are a PFIC generally will be subject to increased U.S. tax liabilities and reporting requirements
for that taxable year and all succeeding years, regardless of whether we continue to meet the income or asset test for PFIC status, although
shareholder elections may apply in certain circumstances. U.S. Holders should consult their own tax advisors regarding our status as a
PFIC and the consequences of investment in a PFIC.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If we are a PFIC for any taxable
year during which U.S. Holders hold ordinary shares, such U.S. Holders will be subject to special tax rules with respect to any &#8220;excess
distribution&#8221; that they receive and any gain that they realize from a sale or other disposition (including a pledge) of the ordinary
shares, unless such U.S. Holders make a &#8220;mark-to-market&#8221; election as discussed below. Distributions that each U.S. Holder
receives in a taxable year that are greater than 125% of the average annual distributions that such U.S. Holder received during the shorter
of the three preceding taxable years or such U.S. Holder&#8217;s holding period for the ordinary shares will be treated as an excess distribution.
Under these special tax rules:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in">(1)</td><td style="text-align: justify">the excess distribution or gain will be allocated ratably over each U.S. Holder&#8217;s holding period
for the ordinary shares;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in">(2)</td><td style="text-align: justify">the amount allocated to the current taxable year, and any taxable year prior to the first taxable year
in which we were a PFIC, will be treated as ordinary income; and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in">(3)</td><td style="text-align: justify">the amount allocated to each other year will be subject to tax at the highest tax rate in effect for that
year and the interest charge generally applicable to underpayments of tax will be imposed on the resulting tax attributable to each such
year.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The tax liability for amounts
under (3) above that is allocated to years prior to the year of disposition or &#8220;excess distribution&#8221; cannot be offset by any
net operating losses, and gains (but not losses) realized on the sale of the ordinary shares cannot be treated as capital, even if a U.S.
Holder holds the ordinary shares as capital assets. The portion of any distributions that are not treated as excess distributions are
taxable as ordinary income in the current taxable year under the normal tax rules of the Code.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A U.S. Holder may not avoid
taxation under the rules described above by making a &#8220;qualified electing fund&#8221; election to include such U.S. Holder&#8217;s
share of our income on a current basis because we do not presently intend to prepare or provide information necessary to make such election.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Alternatively, a U.S. Holder
of &#8220;marketable stock&#8221; in a PFIC may make a mark-to-market election for stock of a PFIC to elect out of the tax treatment discussed
three paragraphs above. If a U.S. Holder makes a mark-to-market election for the ordinary shares, such U.S. Holder will include in income
each year an amount equal to the excess, if any, of the fair market value of the ordinary shares as of the close of such U.S. Holder&#8217;s
taxable year over such U.S. Holder&#8217;s adjusted basis in such ordinary shares. A U.S. Holder is allowed a deduction for the excess,
if any, of the adjusted basis of the ordinary shares over their fair market value as of the close of the taxable year. However, deductions
are allowable only to the extent of any net mark-to-market gains on the stock included in a U.S. Holder&#8217;s income for prior taxable
years. Amounts included in a U.S. Holder&#8217;s income under a mark-to-market election, as well as gain on the actual sale or other disposition
of the ordinary shares, are treated as ordinary income. Ordinary loss treatment also applies to the deductible portion of any mark-to-market
loss on the ordinary shares, as well as to any loss realized on the actual sale or disposition of the ordinary shares, to the extent that
the amount of such loss does not exceed the net mark-to-market gains previously included for such ordinary shares, and any loss in excess
of such amount is treated as capital loss. Each U.S. Holder&#8217;s basis in the ordinary shares will be adjusted to reflect any such
income or loss amounts. The tax rules that apply to distributions by corporations which are not passive foreign investment companies generally
would apply to distributions by us.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The mark-to-market election
is available only for stock which is regularly traded on a national securities exchange that is registered with the Securities and Exchange
Commission or on Nasdaq, or an exchange or market that the U.S. Secretary of the Treasury determines has rules sufficient to ensure that
the market price represents a legitimate and sound fair market value. U.S. Holders should consult their tax advisors as to the availability
of the mark-to-market election, based on the exchange on which we trade and the amount of trading of our ordinary shares, and the tax
ramifications of such election (including the special rules that may apply to the gain realized in the year of the election).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dividends paid by a PFIC (or
by a company that was a PFIC in the year preceding the dividend) are not &#8220;qualified dividend income&#8221; for purposes of the preferential
tax rate on dividends discussed above.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Special limitations may apply
to the use of foreign tax credits arising in connection with distributions on PFIC shares as to which U.S. Holders should consult their
tax advisors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If a U.S. Holder holds ordinary
shares in any year in which we are a PFIC, such U.S. Holder is generally required to file Internal Revenue Service Form 8621 every year.
U.S. Holders should consult their tax advisors regarding their PFIC shareholder reporting obligation in connection with their investment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>U.S. Information and Backup
Withholding</i>. Dividends and proceeds from the sale or exchange of shares may be subject to information reporting to the Internal Revenue
Service and possible U.S. backup withholding. Backup withholding will not apply, however, to a U.S. Holder who furnishes a correct taxpayer
identification number on a properly completed Internal Revenue Service Form W-9 or otherwise properly establishes an exemption from backup
withholding. U.S. Holders should consult their tax advisors regarding the application of the U.S. information reporting and backup withholding
rules. Backup withholding is not an additional tax. Amounts withheld as backup withholding may be credited against a U.S. Holder&#8217;s
U.S. federal income tax liability, if any, and such U.S. Holder may obtain a refund of any excess amounts withheld under the backup withholding
rules by timely filing the appropriate claim for refund and furnishing any required information to the Internal Revenue Service.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Foreign Financial Asset
Reporting.</i> United States return disclosure obligations (and related penalties) are imposed on U.S. individuals who hold certain specified
foreign financial assets in excess of certain dollar thresholds. The definition of specified foreign financial assets would include our
ordinary shares, unless they are held in an account at a domestic financial institution. U.S. Holders should consult with their tax advisors
regarding the requirements of filing IRS Form 8938 under these rules.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>F.   Dividends
and Paying Agents</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>G.   Statement
by Experts</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>H.   Documents
on Display</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are subject to certain
of the reporting requirements of the Exchange Act, as applicable to &#8220;foreign private issuers&#8221; as defined in Rule 3b-4 under
the Exchange Act. As a foreign private issuer, we are exempt from certain provisions of the Exchange Act. Accordingly, our proxy solicitations
are not subject to the disclosure and procedural requirements of Regulation 14A under the Exchange Act, and transactions in our equity
securities by our officers and directors are exempt from reporting and the &#8220;short-swing&#8221; profit recovery provisions contained
in Section 16 of the Exchange Act. In addition, we are not required under the Exchange Act to file periodic reports and financial statements
as frequently or as promptly as U.S. companies whose securities are registered under the Exchange Act. However, we file with the Securities
and Exchange Commission an annual report on Form 20-F containing financial statements audited by an independent accounting firm. We also
submit to the Securities and Exchange Commission reports on Form 6-K containing (among other things) press releases and unaudited financial
information. We post our annual report on Form 20-F on our website (http://www.ellomay.com) promptly following the filing of our annual
report with the Securities and Exchange Commission. The information on our website is not incorporated by reference into this annual report.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any statement in this Report
about any of our contracts or other documents is not necessarily complete. If the contract or document is filed as an exhibit to this
report or any of our annual reports or to a registration statement or other documents filed by us, the contract or document is deemed
to modify the description contained in this Report. You must review the exhibits themselves for a complete description of the contract
or document. In the event any of the documents that are filed as exhibits to our annual reports are not in English, the original language
version is on file in our offices and is available upon request.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You may review a copy of our
filings with the SEC, including exhibits and schedules, and obtain copies of such materials at the SEC&#8217;s public reference room at
Room 1580, 100 F Street, N.E, Washington, D.C. 20549. You may call the SEC at 1-800-SEC-0330 for further information on the public reference
room. The SEC maintains an Internet site (http://www.sec.gov) that contains reports, proxy and information statements and other information
regarding registrants that we file electronically with the SEC. These SEC filings are also available to the public from commercial document
retrieval services. Our filings commencing October 2013 may also be found at the TASE&#8217;s website at http://maya.tase.co.il and at
the Israeli Securities Authority&#8217;s website at http://www.magna.isa.gov.il.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>I.   Subsidiary
Information</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><div><a id="aa_016"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 11:
Quantitative and Qualitative Disclosures About Market Risk</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are exposed to a variety
of risks, including foreign currency fluctuations and changes in interest rates. We regularly assess currency and interest rate risks
to minimize any adverse effects on our business as a result of those factors and periodically use hedging transactions in order to attempt
to limit the impact of such changes.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We hold cash and cash equivalents,
short-term deposits and restricted cash in various currencies, including euro, NIS and USD. Our holdings in our European operating plants
and projects under development are denominated in euro, our holdings in projects under development in the USA are denominated in USD and
our holdings in the Talmei Yosef PV Plant, our Israeli projects under development and indirect holdings in Dorad are denominated in NIS.
The financing we have in connection with our Spanish PV Plants, the Dutch WtE plants and the Talasol PV Plant is denominated in euro and
the financing we have in connection with our Spanish PV Plants bears interest that is based on EURIBOR rate. Our Debentures and the project
finance debt of the Talmei Yosef PV Plant and the Manara PSP are denominated in NIS.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Inflation and Fluctuation of Currencies </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that the composition
of our assets and liabilities, which are denominated in USD, Euro and NIS, sufficiently mitigates a substantial portion of our foreign
currency risk.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Interest Rate </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As noted under &#8220;Item
4.B: Business Overview,&#8221; we entered into various finance agreements that are based on EURIBOR rate and therefore we may be affected
by adverse movements in interest rates. <span style="font-family: Times New Roman, Times, Serif">We utilize interest rate swap derivatives
to convert certain floating-rate debt to fixed-rate debt. Our interest rate swap derivatives involve an agreement to pay a fixed-rate
interest and receive a floating-rate interest, at specified intervals, calculated on an agreed notional amount that matches the amount
of the original loan and paid on the same installments and maturity dates. In the future, we may enter into additional interest rate swaps
or other derivatives contracts to further hedge our exposure to fluctuations in interest rates. </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In order to manage and limit
the interest-rate risk resulting from financing secured in connection with the financing of four of our Spanish indirect wholly-owned
subsidiaries, we executed a &#8364;17.6 million interest swap transaction for a period of 18 years, payable semi-annually commencing on
March 12, 2019, whereby we are the fixed rate payer (the fixed rate is set at 3%).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">For
more information concerning hedging transactions, including a sensitivity analysis, see Note 21 </span>to our financial statements included
elsewhere in this Report.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -64.35pt"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not otherwise believe
the disclosure required by Item 11 of this report to be material to us.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><div><a id="aa_017"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 12:
Description of Securities Other Than Equity Securities</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable (for a description
of our Debentures and Series 1 and Series 2 Options see &#8220;Item 4.A: History and Development of Ellomay; Recent Developments,&#8221;
&#8220;Item 5.B: Operating and Financial Review and Prospects; Liquidity and Capital Resources&#8221; and &#8220;Item 10.C: Material Contracts&#8221;).</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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    </div><!-- Field: /Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><div><a id="aa_018"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: center; text-indent: -21.25pt">PART II</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><div><a id="aa_019"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 13:
Defaults, Dividend Arrearages and Delinquencies</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><div><a id="aa_020"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 14:
Material Modifications to the Rights of Security Holders and Use of Proceeds</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><div><a id="aa_021"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 15:
Controls and Procedures</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>(a) Disclosure Controls and Procedures</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our chief executive officer
and chief financial officer, after evaluating the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e)
and 15d-15(e) of the Securities Exchange Act of 1934, as amended) as of the end of the period covered by this report, have concluded that,
as of such date, our disclosure controls and procedures were effective to ensure that the information required in the reports that we
file or submit under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported, within the time
periods specified in the SEC&#8217;s rules and forms, and such information is accumulated and communicated to our management, including
our chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>(b) Management&#8217;s Annual Report on Internal
Control over Financial Reporting</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our management is responsible
for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined
in Rule 13a-15(f) promulgated under the Securities Exchange Act of 1934, as amended, as a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with
generally accepted accounting principles.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Because of its inherent limitations,
internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future
periods are subject to the risk that the controls may become inadequate because of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our management assessed the
effectiveness of our internal control over financial reporting as of December&#160;31, 2023. In making this assessment, our management
used the criteria in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway
Commission.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on this assessment,
our Chief Executive Officer and Chief Financial Officer have concluded that, as of December 31, 2023, our internal control over financial
reporting is effective based on those criteria.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>(c) Attestation Report of the Registered Public
Accounting Firm</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our independent registered
accounting firm, Somekh Chaikin, a member firm of KPMG International, has issued an audit report on the effectiveness of our internal
control over financial reporting. The report is included our audited consolidated financial statements set forth in &#8220;Item 18 - Financial
Statements.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>(d) Changes in Internal Control over Financial
Reporting</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There were no changes in our
internal control over financial reporting that occurred during the year ended December 31, 2023 that have materially affected, or are
reasonably likely to materially affect, our internal control over financial reporting.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><div><a id="aa_022"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 16:
[Reserved]</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><div><a id="aa_023"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 16A:
Audit Committee Financial Expert</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Daniel Vaknin has been designated
as the Audit Committee financial expert and was also determined to be &#8220;independent&#8221; under the applicable SEC and NYSE American
LLC regulations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><div><a id="aa_024"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 16B:
Code of Ethics</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We adopted a code of business
conduct and ethics which is applicable to all of our officers, directors and employees, including our principal executive, financial and
accounting officers and persons performing similar functions, or the Code of Ethics.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Code of Ethics, in its
current form, is posted on our website at the following web address: https://ellomay.com/wp-content/uploads/2020/03/Code_of_Business_Conduct_and_Ethics.pdf.
We will provide a copy of the Code of Ethics to any person, without charge, upon written request addressed to our Chief Financial Officer
at our office in Tel Aviv, Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><div><a id="aa_025"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 16C:
Principal Accountant Fees and Services</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Fees paid to the Independent Registered Public
Accounting Firm</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Somekh Chaikin, a member firm
of KPMG International, independent registered public accounting firm, located in Tel Aviv, Israel, PCAOB ID 1057, serves as our principal
independent registered public accounting firm since December 2011.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table sets forth,
for each of the years indicated, the aggregate fees paid for professional audit services and other services rendered by Somekh Chaikin
and other KPMG member firms.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">491</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">460</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Audit-Related Fees<sup>(2)</sup></span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">94</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tax Fees<sup>(3)</sup></span></td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">50</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">70</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>Total</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">635</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">530</td><td style="text-align: left">&#160;</td></tr>
  </table><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left">1.</td><td style="text-align: justify">Professional services rendered by our independent registered
public accounting firm for the audit of our annual financial statements or services that are normally provided by the accountants in
connection with statutory and regulatory filings or engagements.</td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left">2.</td><td style="text-align: justify">Including professional services related to due diligence
investigations.</td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left">3.</td><td style="text-align: justify">Professional services rendered by our independent registered
public accounting firm for international and local tax compliance, tax advice services and tax planning performed during the fiscal year.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Audit Committee&#8217;s pre-approval policies
and procedures</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Audit Committee nominates
and engages our registered public accounting firm to audit our financial statements. See also the description under the heading in &#8220;Item
6.C: Board Practices.&#8221; In July 2003, our Audit Committee also adopted a policy requiring management to obtain the Audit Committee&#8217;s
approval before engaging our independent auditors worldwide to provide any other audit or permitted non-audit services to us. Pursuant
to this policy, which is designed to assure that such engagements do not impair the independence of our auditors, the Audit Committee
pre-approves all specific audit and non-audit services and related fees in the categories audit service, audit-related service and tax
services that may be performed by our independent auditors worldwide.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><div><a id="aa_026"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 16D:
Exemptions from the Listing Standards for Audit Committees</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><div><a id="aa_027"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 16E:
Purchase of Equity Securities by the Company and Affiliated Purchasers</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="aa_028"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 16F:
Change in Registrant&#8217;s Certifying Accountants</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="background-color: white">Not
Applicable</span>.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><div><a id="aa_029"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 16G:
Corporate Governance</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><i>NYSE American LLC Company
Guide and Home Country Laws</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 110 of the NYSE American
LLC Company Guide provides that the NYSE American LLC will consider the laws, customs and practices of an issuer&#8217;s country of domicile,
to the extent not contrary to the federal securities laws, regarding such matters as: (i) the election and composition of the board of
directors; (ii) the issuance of quarterly earnings statements; (iii) shareholder approval requirements; and (iv) quorum requirements for
shareholder meetings. If we wish to seek relief under these provisions we are required to provide written certification from independent
local counsel that the non-complying practice is not prohibited by our home country law.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our corporate governance practices
currently differ from those followed by U.S. companies listed on the NYSE American LLC in connection with the quorum required for shareholders
meetings. While the NYSE American LLC Company Guide requires a quorum for shareholder meetings of at least 33-1/3% of our outstanding
ordinary shares, our Articles, as permitted by the Companies Law, provide for a quorum of two or more shareholders holding more than 25%
of the total voting power attached to our shares and for a quorum of any two shareholders, present in person or by proxy at the subsequent
adjourned meeting. For more information concerning the quorum requirements for shareholders meetings and adjourned shareholders meetings
see &#8220;Item 10.B: Memorandum of Association and Second Amended and Restated Articles.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, under the Companies
Law we may not be required to obtain shareholder approval for certain issuances of shares in excess of 20% of our outstanding shares,
as would be required in certain circumstances by the NYSE American LLC Company Guide. At this time, we do not have any intention to enter
into any such transaction; however, we may in the future do so and opt to comply with the Companies Law, which may not require shareholder
approval. Any such determination to follow the Companies Law&#8217;s requirements rather than the standards applicable to U.S. companies
listed on NYSE American LLC will be made by us based on the circumstances existing at the time approval is required.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><i>Controlled Company</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">By virtue of the 2008 Shareholders
Agreement, we are a &#8220;controlled company&#8221; as defined in Section 801 of the NYSE American LLC Company Guide. As a result, we
are exempt from certain of the NYSE American LLC corporate governance requirements, including the requirement that a majority of the board
of directors be independent, the requirement applicable to the nomination process of directors and the requirements applicable to the
determination or recommendation of executive compensation by a committee comprised of independent directors or by a majority of the independent
directors. We follow the requirements of the Companies Law with respect to these issues, including the requirement that we appoint two
external directors, all as more fully described in &#8220;Item 6.B: Compensation&#8221; and &#8220;Item 6.C: Board Practices.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the &#8220;controlled company&#8221;
exemptions would cease to be available to us under the NYSE American LLC Company Guide, we may elect to follow &#8220;home country laws&#8221;
(i.e. Israeli law) instead of some or all of the applicable NYSE American LLC Company Guide requirements as described above.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><div><a id="aa_030"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 16H:
Mine Safety Disclosure</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><div><a id="aa_031"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 16I:
Disclosure regarding Foreign Jurisdictions that Prevent Inspections</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><div><a id="aa_032"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 16J:
Insider Trading Policies</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><div><a id="aa_033"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 16K:
Cybersecurity</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Risk Management and Strategy </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our business operations rely
upon secure information technology systems for data processing, storage and reporting. As a global energy company based in Israel, we
face heightened risks of cybersecurity incidents, and we remain potentially vulnerable to known or unknown threats, which are constantly
evolving. Although to date we are not aware of any cybersecurity threats that have materially affected or are reasonably likely to materially
affect our business strategy, results of operations or financial condition, there can be no assurance that we will not experience such
an incident in the future. See &#8220;Item 3.D: Key Information - Risk Factors&#8221; for additional information about the risks to our
business associated with cybersecurity threats.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our cybersecurity strategy
emphasizes detection, analysis and recovery of cybersecurity threats, while increasing our resiliency against cybersecurity incidents
and effective management of cybersecurity risks and events.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We adopted internal policies
and procedures aimed at enhancing protection of our information system against cybersecurity risks and detecting and managing cybersecurity
events. We maintain physical, administrative and technical safeguards of our information systems, and also maintain plans and procedures
whose objective is to help us prevent and timely and effectively respond to cybersecurity threats or incidents. We implement our policies
and procedures through employee training, software enhancements and improvements and management oversight.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We conduct periodic risk assessments
to identify, document and mitigate cybersecurity risks, including penetration tests and risk surveys. These risk assessments are conducted
by qualified third party service providers. In addition, employees receive periodic information security training.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Exposure of third-party service
providers to our information systems is minimized and made on a &#8220;need to know&#8221; basis and subject to execution of non-disclosure
agreements to protect the confidentiality of our information.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Although we conduct third-party
examination and other procedures designed to assess the data privacy and cybersecurity practices of third-party vendors and service providers
(including contractual protections), our ability to monitor or control the data privacy and cybersecurity practices of third parties is
limited and there can be no assurance that we can detect, prevent, mitigate, or remediate the risk of any weakness, compromise or failure
in the information systems, software, networks and other assets owned or controlled by our third-party vendors and service providers.
When we do become aware that a third-party vendor or service provider has experienced any compromise or failure, we attempt to mitigate
our risk, including by terminating such third party&#8217;s connection to our information systems and networks where appropriate.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Governance</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our management team, including
our external Information Technologies service provider, are responsible for identifying, considering and assessing material cybersecurity
risks on an ongoing basis, establishing processes to ensure that such potential cybersecurity risk exposures are monitored, putting in
place appropriate mitigation measures and maintaining cybersecurity programs. Our external Information Technologies service provider has
over twenty-five years&#8217; experience in information technology systems, structure and support and over ten years&#8217; experience
in information security, and are experienced in overseeing implementation, certification and compliance processes of international standards
of information security such as ISO27001, TiSAX, etc.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, in the event
of a potentially material cybersecurity event, the CEO and Chairman of the Board are notified and briefed, and meetings of the Audit Committee
and/or full Board would be held, as appropriate.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As part of its oversight responsibilities,
our Audit Committee receives periodic updates from our management and through the internal audit plan on our cybersecurity practices as
well as technology, cybersecurity and information security risks.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We engage a third-party consultant
to help us assess and identify risks from cybersecurity threats, including the threat of a cybersecurity incident, and to assist us in
establishing our cybersecurity defenses and policies and manage our cyber risk assessment program. Our third-party consultant monitors
cybersecurity threats to our software.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><div><a id="aa_034"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: center; text-indent: -21.25pt">PART III</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="aa_035"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 17:
Financial Statements</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><div><a id="aa_036"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 18:
Financial Statements</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Financial Statements are
included in pages F-1 &#8211; F-106 of this Report.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The audited financial statements
of Dorad Energy Ltd. for the year ended December 31, 2023 are included in pages FD-1 &#8211; FD-50 of this Report.</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">&#160;</p><div>

</div><div><a id="aa_037"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.25pt; text-align: justify; text-indent: -21.25pt">ITEM 19:
Exhibits</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: left"><span style="font-size: 10pt"><b><span style="text-decoration:underline;text-decoration: none">Number</span></b></span></td>
    <td style="width: 1%">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; width: 90%; text-align: left"><span style="font-size: 10pt"><b><span style="text-decoration:underline;text-decoration: none">Description</span></b></span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">1.1</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891313000877/exhibit_1-1.htm"><span style="font-size: 10pt">Memorandum of Association of the Registrant (translated from Hebrew), reflecting amendments through June 9, 2011*<sup>(1) </sup></span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">1.2</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891319000989/exhibit_1-2.htm"><span style="font-size: 10pt">Second Amended and Restated Articles of the Registrant, reflecting amendments through June 21, 2018<sup>(2)</sup></span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">2.1</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891312001024/exhibit_2-1.htm"><span style="font-size: 10pt">Specimen Certificate for ordinary shares</span><sup>(3)</sup></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">2.2</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891320001067/exhibit_2-2.htm"><span style="font-size: 10pt">Description of Rights of Securities Registered Under Section 12 of the Exchange Act<sup>(4)</sup></span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">4.1</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891320001067/exhibit_4-1.htm"><span style="font-size: 10pt">1998 Share Option Plan for Non-Employee Directors<sup>(4)</sup></span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">4.2</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891320001067/exhibit_4-2.htm"><span style="font-size: 10pt">2000 Stock Option Plan<sup>(4)</sup></span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">4.3</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891313000877/exhibit_4-3.htm"><span style="font-size: 10pt">Form of Indemnification Undertaking between the Registrant and its officers and directors, granted until June 21, 2018<sup>(1)</sup></span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">4.4</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/946394/000117891318001696/exhibit_99-2.htm" style="-sec-extract: exhibit">Form of Indemnification Undertaking and Exemption between the Registrant and its officers and directors, granted following June 21, 2018</a><sup><a href="http://www.sec.gov/Archives/edgar/data/946394/000117891318001696/exhibit_99-2.htm" style="-sec-extract: exhibit">(5)</a></sup></span></td></tr>

<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">4.5</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/946394/000117891323003512/exhibit_99-2.htm" style="-sec-extract: exhibit">Directors and Officers Compensation Policy, adopted on December 11, 2023</a><sup><a href="http://www.sec.gov/Archives/edgar/data/946394/000117891323003512/exhibit_99-2.htm" style="-sec-extract: exhibit">(6)</a></sup></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">4.6</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891305001432/exhibit_2.htm" style="-sec-extract: exhibit">Form of Registration Rights Agreement, dated September 12, 2005, among the Registrant, certain investors, Bank Hapoalim, Bank Leumi and Israel Discount Bank</a><sup><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891305001432/exhibit_2.htm" style="-sec-extract: exhibit">(7)</a></sup></span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">4.7</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891311001123/exhibit_4-15.htm">Investment Agreement, among U. Dori Group Ltd., (currently Amos Luzon Entrepreneurship and Energy Group Ltd.), U. Dori Energy Infrastructures Ltd. (currently Ellomay Luzon Infrastructures Ltd.) and Ellomay Clean Energy Ltd., dated November 25, 2010 (summary of Hebrew version)<sup>(8)</sup>* </a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">4.8</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891311001123/exhibit_4-16.htm">Shareholders Agreement, among U. Dori Group Ltd. (currently Amos Luzon Entrepreneurship and Energy Group Ltd.), Ellomay Clean Energy Ltd. and U. Dori Energy Infrastructures Ltd. (currently Ellomay Luzon Infrastructures Ltd.), dated November 25, 2010 (summary of Hebrew version)<sup>(8)</sup>* </a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">4.9</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891312001024/exhibit_4-19.htm">Rinconada II Building Right Agreement (summary of Spanish version)<sup>(3)</sup>*</a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">4.10</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891315001403/exhibit_4-29.htm">Rodr&#237;guez I Lease Agreements (summary of Spanish version)<sup>(9)</sup>*</a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">4.11</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891315001403/exhibit_4-30.htm">Rodr&#237;guez II Lease Agreements (summary of Spanish version)<sup>(10)</sup>*</a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">4.12</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891315001403/exhibit_4-31.htm">Fuente Librilla Lease Agreement (summary of Spanish version)<sup>(10)</sup>*</a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">4.13</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891318001031/exhibit_4-25.htm">Talmei Yosef Lease Agreement (summary of Hebrew version)<sup>(11)</sup>*</a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">4.14</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891320001067/exhibit_4-17.htm">Talasol Lease Agreements (summary of Spanish versions)<sup>(4)</sup>*</a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">4.15</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/946394/000117891322002325/exhibit_99-1.htm">Deed of Trust between the Registrant and Hermetic Trust (1975) Ltd., governing the Company&#8217;s Series C Debentures, dated July 15, 2019, as amended on June 6, 2022 (translation of Hebrew version) <sup>(12)</sup>*</a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">4.16</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891321001241/exhibit_4-20.htm">Ellomay Solar Lease Agreement (summary of Spanish version)<sup>(13)</sup>*</a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">4.17</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891321001241/exhibit_4-21.htm">Deed of Trust between the Registrant and Hermetic Trust (1975) Ltd., governing the Company&#8217;s Series D Convertible Debentures, dated February 21, 2021 (translation of Hebrew version)<sup>(13)</sup>*</a></td></tr>
</table><div>

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</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top; background-color: White">
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number</b></span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Description</b></span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left; width: 9%"><span style="font-size: 10pt">4.18</span></td>
    <td style="width: 1%">&#160;</td>
    <td style="text-align: justify; width: 90%"><a href="http://www.sec.gov/Archives/edgar/data/946394/000117891321002205/exhibit_99-2.htm" style="-sec-extract: exhibit">Amended and Restated Management Services Agreement, by and among the Registrant, Kanir Joint Investments (2005) Limited Partnership, Keystone R.P. Holdings and Investments Ltd. and Meisaf Blue &amp; White Holdings Ltd., effective as of July 1, 2021</a><sup><a href="http://www.sec.gov/Archives/edgar/data/946394/000117891321002205/exhibit_99-2.htm" style="-sec-extract: exhibit">(14)</a></sup></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">4.19</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/946394/000117891322001328/exhibit_4-19.htm">Manara Lease and Development Agreements (summary of Hebrew version)<sup>(15)</sup>*</a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">4.20</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/946394/000117891323001361/exhibit_4-20.htm" style="-sec-extract: exhibit">Deed of Trust between the Registrant and Hermetic Trust (1975) Ltd., governing the Company&#8217;s Series E Secured Debentures, dated January 30, 2023 (translation of Hebrew version)<sup>(16)</sup>*</a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">4.21</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="ea020166301ex4-21_ellomay.htm">Italian Subsidiaries&#8217; Lease Agreements (summary of Italian version)*</a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">4.22</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="ea020166301ex4-22_ellomay.htm">Land Lease and Solar Easement between Jordan Hunter Latham and Malakoff Solar Holdings, LLC, dated April 17, 2023</a> </td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">4.23</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="ea020166301ex4-23_ellomay.htm">Form of Land Lease and Solar Easement in connection with certain USA PV projects</a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">4.24</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="ea020166301ex4-24_ellomay.htm">Deed of Trust between the Registrant and Hermetic Trust (1975) Ltd., governing the Company&#8217;s Series F Debentures, dated January 14, 2024 (translation of Hebrew version)*</a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">8</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="ea020166301ex8_ellomay.htm">List of Subsidiaries of the Registrant</a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">12.1</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="ea020166301ex12-1_ellomay.htm"><span style="font-size: 10pt">Certification of Principal Executive Officer required by Rule 13a-14(a) and Rule 15d-14(a) (Section 302 Certification)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">12.2</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="ea020166301ex12-2_ellomay.htm"><span style="font-size: 10pt">Certification of Principal Financial Officer required by Rule 13a-14(a) and Rule 15d-14(a) (Section 302 Certification)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">13</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="ea020166301ex13_ellomay.htm"><span style="font-size: 10pt">Certification of Principal Executive Officer and Principal Financial Officer required by Rule 13a-14(b) and Rule 15d-14(b) (Section 906 Certification)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">15.1</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="ea020166301ex15-1_ellomay.htm"><span style="font-size: 10pt">Consent of Somekh Chaikin, Member Firm of KPMG International, Independent Registered Public Accounting Firm with respect to our financial statements</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">15.2</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><a href="ea020166301ex15-2_ellomay.htm"><span style="font-size: 10pt">Consent of Somekh Chaikin, Member Firm of KPMG International, Independent Registered Public Accounting Firm with respect to the Dorad Financial Statements</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">97.1</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt"><a href="ea020166301ex97-1_ellomay.htm">Ellomay Capital Ltd. Dodd-Frank Clawback Policy</a></span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">101.INS**</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">Inline XBRL Instance Document</span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">101.SCH**</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">Inline XBRL Taxonomy Extension Schema Document</span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">101.CAL**</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">Inline XBRL Taxonomy Calculation Linkbase Document</span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">101.DEF**</span></td>
    <td>&#160;</td>
    <td style="text-align: justify">Inline <span style="font-size: 10pt">XBRL Taxonomy Extension Definition Linkbase
    Document</span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">101.LAB**</span></td>
    <td>&#160;</td>
    <td style="text-align: justify">Inline <span style="font-size: 10pt">XBRL Taxonomy Label Linkbase Document</span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">101.PRE**</span></td>
    <td>&#160;</td>
    <td style="text-align: justify">Inline <span style="font-size: 10pt">XBRL Taxonomy Presentation Linkbase Document</span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">104</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)</span></td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.25pt; text-align: justify; text-indent: -35.25pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.25pt; text-align: justify; text-indent: -35.25pt"></p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.25pt; text-align: justify; text-indent: -35.25pt"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">*</td><td style="text-align: justify">The original language version is on file with the Registrant and is available upon request.</td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">**</span></td><td style="text-align: justify"><span style="font-size: 10pt">Pursuant to Rule 406T of Regulation
S-T, these interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11
or 12 of the Securities Act of 1933, as amended, are deemed not filed for the purposes of Section 18 of the Securities and Exchange Act
of 1934, as amended, and otherwise are not subject to liability under those sections.</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.25pt; text-align: justify; text-indent: -35.25pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left">(1)</td><td style="text-align: justify">&#160;Previously filed with the Registrant&#8217;s Form 20-F for the
year ended December 31, 2012 and incorporated by reference herein.</td>
</tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left">(2)</td><td style="text-align: justify">&#160;Previously filed with the Registrant&#8217;s Form 20-F for the
year ended December 31, 2018 and incorporated by reference herein.</td>
</tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0in"/><td style="width: 0.25in">(3)</td><td style="text-align: justify">&#160;Previously filed with the Registrant&#8217;s Form 20-F for the year ended December 31, 2011 and incorporated
by reference herein.</td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0in"/><td style="width: 0.25in">(4)</td><td style="text-align: justify">&#160;Previously filed with the Registrant&#8217;s Form 20-F for the year ended December 31, 2019 and incorporated
by reference herein.</td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(5)</td><td style="text-align: justify">&#160;Included in the Registrant&#8217;s Form 6-K dated May 17, 2018 and incorporated by reference herein.</td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(6)</td><td style="text-align: justify">&#160;included in the Registrant&#8217;s Form 6-K dated November 2, 2023 and incorporated by reference herein.</td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(7)</td><td style="text-align: justify">&#160;Included in the Registrant&#8217;s Form 6-K dated October 14, 2005 and incorporated by reference herein. </td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(8)</td><td style="text-align: justify">&#160;Previously filed with the Registrant&#8217;s Form 20-F for the year ended December 31, 2010 and incorporated
by reference herein.</td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(9)</td><td style="text-align: justify">&#160;Previously filed with the Registrant&#8217;s Form 20-F for the year ended December 31, 2013 and incorporated
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</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(10)</td><td style="text-align: justify">&#160;Previously filed with the Registrant&#8217;s Form 20-F for the year ended December 31, 2014 and incorporated
by reference herein.</td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(11)</td><td style="text-align: justify">&#160;Previously filed with the Registrant&#8217;s Form 20-F for the year ended December 31, 2017 and incorporated
by reference herein.</td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(12)</td><td style="text-align: justify">&#160;Included in the Registrant&#8217;s Form 6-K dated June 8, 2022 and incorporated by reference herein.</td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(13)</td><td style="text-align: justify">&#160;Previously filed with the Registrant&#8217;s Form 20-F for the year ended December 31, 2020 and incorporated
by reference herein.</td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(14)</td><td style="text-align: justify">&#160;Included in the Registrant&#8217;s Form 6-K dated July 1, 2021 and incorporated by reference herein.</td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(15)</td><td style="text-align: justify">&#160;Previously filed with the Registrant&#8217;s Form 20-F for the year ended December 31, 2021 and incorporated
by reference herein.</td></tr></table><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0%"/><td style="width: 0.25in">(16)</td><td style="text-align: justify">&#160;Previously filed with the Registrant&#8217;s Form 20-F for the year ended December 31, 2023 and incorporated
by reference herein.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -35.45pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -35.45pt"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -35.45pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The registrant hereby certifies
that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this
annual report on its behalf.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: top; text-align: left">
  <td>&#160;</td>
  <td colspan="2"><b>Ellomay Capital Ltd.</b></td></tr>
<tr style="vertical-align: top; text-align: left">
  <td style="width: 60%">&#160;</td>
  <td style="width: 4%">&#160;</td>
  <td style="width: 36%">&#160;</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&#160;</td>
  <td>By:</td>
  <td style="border-bottom: Black 1.5pt solid"><i>/s/ Ran Fridrich</i></td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&#160;</td>
  <td>&#160;</td>
  <td><i>Ran Fridrich</i></td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&#160;</td>
  <td>&#160;</td>
  <td><i>Chief Executive Officer and Director</i></td></tr>
</table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dated: April 18, 2024</p><div>



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</div><p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 12pt"><b>Ellomay
Capital Ltd. and its Subsidiaries</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 12pt"><b>&#160;</b></span></p><div>

</div><p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 12pt"><b>Consolidated
Financial Statements</b></span></p><div>

</div><p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 12pt"><b>As
at December 31, 2023</b></span></p><div>

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</div><p style="text-align: center; margin-top: 0; margin-bottom: 0">&#160;</p><div>

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</div><p style="text-align: center; margin-top: 0; margin-bottom: 0">&#160;</p><div>



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</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Consolidated Financial Statements as at December
31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-bottom: Black 1.5pt solid; width: 87%; text-align: justify"><b>Contents</b></td> <td style="width: 1%">&#160;</td> <td style="border-bottom: Black 1.5pt solid; width: 12%; text-align: center"><b>Page</b></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td>&#160;</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: justify"><a href="#a_001">Report of Independent Registered Public Accounting Firm (<span style="font-size: 10pt">PCAOB ID No.<ix:nonNumeric contextRef="c0" name="dei:AuditorFirmId" id="ixv-64442">1057</ix:nonNumeric>)</span></a></td> <td>&#160;</td> <td style="text-align: center">F-2 - F-4</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: justify">&#160;</td> <td>&#160;</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: justify"><a href="#a_002">Consolidated Statements of Financial Position</a></td> <td>&#160;</td> <td style="text-align: center">F-5</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: justify">&#160;</td> <td>&#160;</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: justify"><a href="#a_003">Consolidated Statements of Profit or Loss and Other Comprehensive Income (Loss)</a></td> <td>&#160;</td> <td style="text-align: center">F-6</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: justify">&#160;</td> <td>&#160;</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: justify"><a href="#a_004">Consolidated Statements of Changes in Equity</a></td> <td>&#160;</td> <td style="text-align: center">F-7 - F-10</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: justify">&#160;</td> <td>&#160;</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: justify"><a href="#a_005">Consolidated Statements of Cash Flows</a></td> <td>&#160;</td> <td style="text-align: center">F-11 - F-12</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: justify">&#160;</td> <td>&#160;</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: justify"><a href="#a_006">Notes to the Consolidated Financial Statements</a></td> <td>&#160;</td> <td style="text-align: center">F-13 - F-<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">93</span></td></tr> </table><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><img alt="" src="image_005.jpg"/>&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="a_001"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Report of Independent Registered Public Accounting
Firm</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal">To the Shareholders
and Board of Directors</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal">Ellomay Capital
Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal">Opinions on
the Consolidated Financial Statements and Internal Control over Financial Reporting</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal">We have audited
the accompanying consolidated statements of financial position of Ellomay Capital Ltd. and subsidiaries (the Company) as of December
31, 2023 and 2022, the related consolidated statements of profit or loss and other comprehensive income (loss), changes in equity and
cash flows for each of the years in the three-year period ended December 31, 2023, and the related notes (collectively, the consolidated
financial statements). We also have audited the Company&#8217;s internal control over financial reporting as of December 31, 2023, based
on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the
Treadway Commission.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal">In our opinion,
the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company
as of December 31, 2023 and 2022, and the results of its operations and its cash flows for each of the years in the three-year period
ended December 31, 2023, in conformity with International Financial Reporting Standards (IFRS) as issued by the International Accounting
Standards Board. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting
as of December 31, 2023, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring
Organizations of the Treadway Commission.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal"><i>Convenience
Translation</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal">The accompanying
consolidated financial statements as of and for the year ended December 31, 2023, have been translated into United States dollars (&#8220;dollars&#8221;)
solely for the convenience of the reader. We have audited the translation, and, in our opinion, the consolidated financial statements
expressed in euro have been translated into dollars on the basis set forth in note 3B of the notes to the consolidated financial statements.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal"><i>Basis for
Opinions</i></span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&#8217;s management is responsible
for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment
of the effectiveness of internal control over financial reporting included in the accompanying Management&#8217;s Report on Internal
Control over Financial Reporting. Our responsibility is to express an opinion on the Company&#8217;s consolidated financial statements
and an opinion on the Company&#8217;s internal control over financial reporting based on our audits. We are a public accounting firm
registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect
to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange
Commission and the PCAOB.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We conducted our audits in accordance with the
standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the
consolidated financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control
over financial reporting was maintained in all material respects.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our audits of the consolidated financial statements
included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to
error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence
regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles
used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.
Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting,
assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control
based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances.
We believe that our audits provide a reasonable basis for our opinions.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Definition and Limitations of Internal Control
over Financial Reporting</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A company&#8217;s internal control over financial
reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally accepted accounting principles. A company&#8217;s internal
control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance
that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting
principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and
directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition,
use, or disposition of the company&#8217;s assets that could have a material effect on the financial statements. Because of its inherent
limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that
the degree of compliance with the policies or procedures may deteriorate.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>Critical Audit Matter</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The critical audit matter
communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or
required to be communicated to the audit committee and that: (1) relates to accounts or disclosures that are material to the consolidated
financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of a critical audit
matter does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating
the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which
it relates.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>Valuation of the Talasol power purchase agreement</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">As discussed in Notes
21E(3) and 21F(3) to the consolidated financial statements, in order to manage its exposure to changes in electricity prices, the Company
hedged approximately 80% of Talasol PV Plant&#8217;s output through a financial power swap for a period of the power purchase agreement
(Talasol PPA). The fair value of the Talasol PPA is measured by discounting the future fixed and assessed cash flows over the period of
the contract and is based on certain assumptions, including electricity future prices projections. The valuation technique for assessing
electricity future prices projections takes into consideration unobservable market data and complex pricing models. As of December&#160;31,
2023, the Company reported current maturities of derivatives liabilities and non-current derivatives assets of &#8364;4,643 thousand and
&#8364;10,948 thousand, respectively, which included the financial power swap related to the Talasol PPA.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">We identified the assessment
of the valuation of the Talasol PPA as a critical audit matter. Assessing electricity future prices projections required a high degree
of auditor judgment because changes to the electricity future prices projections could have had a significant effect on Talasol PPA&#8217;s
valuation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The following are the
primary procedures we performed to address this critical audit matter. We evaluated the design and tested the operating effectiveness
of a certain internal control related to the Company&#8217;s process related to the valuation of the Talasol PPA at fair value, which
included the assessment of electricity future prices projections. We assessed the electricity future prices projections by comparing
them to market quotes and to an independently developed range of electricity future prices projections, which was based on publicly available
market data and other information about the electricity market.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-bottom: Black 1.5pt solid; width: 40%; text-align: left; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>/s/ <ix:nonNumeric contextRef="c0" name="dei:AuditorName" id="ixv-64443">Somekh Chaikin</ix:nonNumeric> </i></span></td> <td style="width: 60%; text-align: left; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr> <tr style="vertical-align: top"> <td style="text-align: left; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Somekh Chaikin</span></td> <td style="text-align: left; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr> </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Member Firm of KPMG International</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have served as the Company&#8217;s auditor
since 2011</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><ix:nonNumeric contextRef="c0" name="dei:AuditorLocation" id="ixv-64444">Tel Aviv, Israel</ix:nonNumeric></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">April 18, 2024</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><div><a id="a_002"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Consolidated
Statements of Financial Position</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify; padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="text-align: center; padding-bottom: 1.5pt">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: center; padding-bottom: 4pt">&#160;</td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify">Liabilities and Equity</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify">Current liabilities</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: center">14</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify; padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="text-align: center; padding-bottom: 1.5pt">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify">Non-current liabilities</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: center">14</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentLeaseLiabilities" scale="3" unitRef="usd" id="ixv-64526">26,191</ix:nonFraction></td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: center">11</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentPortionOfNoncurrentLoansReceived" scale="3" unitRef="usd" id="ixv-64529">262,995</ix:nonFraction></td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: center">11</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentPortionOfOtherNoncurrentBorrowings" scale="3" unitRef="eur" id="ixv-64530">29,373</ix:nonFraction></td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentPortionOfOtherNoncurrentBorrowings" scale="3" unitRef="usd" id="ixv-64532">32,488</ix:nonFraction></td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: center">12</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued" scale="3" unitRef="usd" id="ixv-64535">116,009</ix:nonFraction></td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: center">13</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 4pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying notes are an integral part of the consolidated financial
statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 4pt">&#160;</span></p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 8pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-size: 8pt">&#160;</span></p><div>

</div><div><a id="a_003"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Consolidated
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 8pt">&#160;</span></p><div>

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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in">Profit (loss) from discontinued operation (net of tax)</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: center; padding-bottom: 1.5pt">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left"><span style="font-size: 7pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 7pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 7pt">&#160;</span></td><td><span style="font-size: 7pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 7pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 7pt">&#160;</span></td><td style="white-space: nowrap; text-align: left"><span style="font-size: 7pt">&#160;</span></td><td><span style="font-size: 7pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 7pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 7pt">&#160;</span></td><td style="white-space: nowrap; text-align: left"><span style="font-size: 7pt">&#160;</span></td><td><span style="font-size: 7pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 7pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 7pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 7pt">&#160;</span></td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="white-space: nowrap; text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in"><span style="font-size: 7pt">&#160;</span></td><td><span style="font-size: 7pt">&#160;</span></td>
    <td style="text-align: center"><span style="font-size: 7pt">&#160;</span></td><td><span style="font-size: 7pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 7pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 7pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 7pt">&#160;</span></td><td><span style="font-size: 7pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 7pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 7pt">&#160;</span></td><td style="white-space: nowrap; text-align: left"><span style="font-size: 7pt">&#160;</span></td><td><span style="font-size: 7pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 7pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 7pt">&#160;</span></td><td style="white-space: nowrap; text-align: left"><span style="font-size: 7pt">&#160;</span></td><td><span style="font-size: 7pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 7pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 7pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 7pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 5pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left">*</td><td style="text-align: justify"><ix:footnote id="ix_0_footnote" xml:lang="en-US">Reclassified due to discontinued operation - see Note 23.</ix:footnote></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 5pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left">**</td><td style="text-align: justify"><ix:footnote id="ix_1_footnote" xml:lang="en-US">Reclassified &#8211; see Note 2G.</ix:footnote></td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 5pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying notes are an integral part of
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><div><a id="a_004"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Consolidated
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</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying notes are an integral part of the consolidated financial
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

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  </table><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying notes are an integral part of
the consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 9; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Consolidated
Statements of Changes in Equity (cont&#8217;d)</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt; vertical-align: bottom; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt; vertical-align: bottom; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td>
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capital</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td>
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premium</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td>
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deficit</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td>
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shares</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td>
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reserve <br/>
from <br/>
foreign <br/>
operations</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td>
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Reserve</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td>
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reserve <br/>
with non-<br/>
controlling <br/>
Interests</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td>
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controlling<br/>
Interests</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td>
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Equity</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold; vertical-align: bottom">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td colspan="38" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">&#8364; in thousands</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
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    <td colspan="2" style="text-align: left">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: left">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: left">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: left">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: left">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: left">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: left">&#160;</td><td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; width: 25%; text-align: left"><b>Balance as at January 1, 2021</b></td><td style="width: 0.5%">&#160;</td>
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    <td style="width: 0.5%; text-align: left">&#160;</td><td style="width: 6%; text-align: right"><ix:nonFraction contextRef="c50" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Equity" scale="3" unitRef="eur" id="ixv-64812">82,401</ix:nonFraction></td><td style="width: 0.5%; text-align: left">&#160;</td><td style="width: 0.5%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c59" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProfitLoss" scale="3" sign="-" unitRef="eur" id="ixv-64821">15,090</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-48">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-49">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-50">-</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c64" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:OtherComprehensiveIncomeBeforeTax" scale="3" unitRef="eur" id="ixv-64825">11,542</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Transactions with owners of the Company, recognized directly in equity:</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Issuance of ordinary shares</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying notes are an integral part of
the consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Consolidated
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</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom">
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
    <td colspan="2" style="text-align: center"/>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-indent: -0.25in; padding-left: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
    <td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
    <td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
    <td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
    <td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
    <td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
    <td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
    <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td>
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    <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#160;</b></span></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-indent: -0.25in; padding-left: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-indent: -0.25in; padding-left: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>

<tr style="vertical-align: bottom">
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying notes are an integral part of the consolidated financial
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><div><a id="a_005"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Consolidated
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying notes are an integral part of the <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">consolidated
financial statements.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Consolidated
Statements of Cash Flows (cont&#8217;d)</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1.5pt">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
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    <td colspan="2" style="text-align: justify">&#160;</td><td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Repayment of loan to an equity accounted investee</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Advances on account of investments</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Proceeds from advances on account of investments in process</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Proceeds from sales of (investment in) marketable securities</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: justify">Cash flows from financing activities:</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Sale of shares in subsidiaries to non-controlling interests</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Proceeds from options</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Payment of principal of lease liabilities</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Proceeds from long-term loans</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Repayment of long-term loans</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Repayment of Debentures</td><td style="font-weight: bold">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RepaymentsOfBondsNotesAndDebentures" scale="3" unitRef="eur" id="ixv-65029">19,764</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RepaymentsOfBondsNotesAndDebentures" scale="3" unitRef="eur" id="ixv-65030">30,730</ix:nonFraction></td><td style="text-align: left">)</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Repayment of SWAP instrument associated with long term loans</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-103">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ello:RepaymentOfSwapInstrumentAssociatedWithLongTermLoans" scale="3" sign="-" unitRef="eur" id="ixv-65032">3,290</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-104">-</div></td><td style="text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-105">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Proceed from settlement of derivatives, net</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-106">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ello:ProceedFromSettlementOfDerivativesNet" scale="3" unitRef="eur" id="ixv-65033">3,800</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-107">-</div></td><td style="text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-108">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Proceeds from issue of convertible debentures</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-109">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-110">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" name="ello:ProceedsFromIssuanceOfConvertibleDebentures" scale="3" sign="-" unitRef="eur" id="ixv-65034">15,571</ix:nonFraction></td><td style="text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-111">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Proceeds from issuance of Debentures, net</td><td style="font-weight: bold">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-112">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1.5pt">Proceeds from issuance / exercise of warrants</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-113">-</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-114">-</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 4pt">Net cash provided by financing activities</td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying notes are an integral part of
the consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="a_006"></a></div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" id="ixv-24211"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 1 - General</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify">Ellomay Capital Ltd. (the &#8220;Company&#8221;)
                                            is an Israeli Company operating in the business of initiation, development, construction
                                            and production of renewable and clean energy projects in Europe, USA and Israel.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">As of December 31,
2023, the Company owns seven photovoltaic plants (each, a &#8220;PV Plant&#8221; and, together, the &#8220;PV Plants&#8221;) connected
to their respective national grids and operating as follows:</p>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in">(i)</td><td style="text-align: justify">five photovoltaic plants in Spain with
                                            an aggregate installed capacity of approximately 35.9 Mega Watt (&#8220;MW&#8221;),</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="-sec-ix-hidden: hidden-fact-121">(ii)</span></td><td style="text-align: justify">51% of Talasol Solar S.L.U (&#8220;Talasol&#8221;), which owns a photovoltaic plant with installed capacity of 300MW in the municipality of Talav&#225;n, C&#225;ceres, Spain (the &#8220;Talasol PV Plant&#8221;), and</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in">(iii)</td><td style="text-align: justify">one photovoltaic plant in Israel with
                                            an aggregate installed capacity of approximately 9 MW. See Note 23 for Non-Current Assets
                                            and Disposal Groups Held for Sale.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify; text-indent: 0in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">In addition, the
Company indirectly owns:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify; text-indent: 0in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="-sec-ix-hidden: hidden-fact-123">(i)</span></td><td style="text-align: justify">9.375% of Dorad Energy Ltd. (&#8220;Dorad&#8221;),</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in">(ii)</td><td style="text-align: justify">Ellomay Solar Italy One SRL and Ellomay
                                            Solar Italy Two SRL, which own photovoltaic plants with installed capacity of 14.8 MW and
                                            4.95 MW, respectively, in the Lazio Region, Italy that are ready for connection to the grid,</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in">(iii)</td><td style="text-align: justify">Ellomay Solar Italy Four SRL, Ellomay
                                            Solar Italy Five SRL, Ellomay Solar Italy Seven SRL, Ellomay Solar Italy Nine SRL and Ellomay
                                            Solar Italy Ten SRL that are developing photovoltaic projects with installed capacity of
                                            15.06 MW, 87.2 MW, 54.77 MW, 8 MW and 18 MW, respectively, in Italy that have reached &#8220;ready
                                            to build&#8221; status,</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="-sec-ix-hidden: hidden-fact-118"><span style="-sec-ix-hidden: hidden-fact-119"><span style="-sec-ix-hidden: hidden-fact-120">(iv)</span></span></span></td><td style="text-align: justify">Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in&#160;the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million Nm3 per year, respectively, </td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="-sec-ix-hidden: hidden-fact-122">(v)</span></td><td style="text-align: justify">83.333% of Ellomay Pumped Storage (2014) Ltd., which is constructing a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel (the &#8220;Manara PSP&#8221;), and</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in">(vi)</td><td style="text-align: justify">Fairfield Solar Project, LLC, Malakoff Solar I, LLC, Malakoff Solar II, LLC, Mexia Solar I, LLC, Mexia Solar
II, LLC, and Talco Solar, LLC, that are developing photovoltaic projects with installed capacity of 13.44 MW, 6.96 MW, 6.96 MW, 5.<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6
<span style="background-color: white">MW, 5.</span>6 <span style="background-color: white">MW and </span>10.3 <span style="background-color: white">MW
respectively, in the Dallas Metropolitan area, Texas, that have reached &#8220;ready to build&#8221; status.</span></span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify; text-indent: 0in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The Company also
develops PV projects in Italy, Spain, USA and Israel.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-align: justify; text-indent: 0in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The ordinary shares
of the Company are listed on the NYSE American and on the Tel Aviv Stock Exchange (under the symbol &#8220;ELLO&#8221;). The address
of the Company&#8217;s registered office is 18 Rothschild Blvd., Tel Aviv, Israel.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify; text-indent: 0in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>B.</b></td><td style="text-align: justify"><b>Definitions:</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In these financial statements:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Consolidated companies/subsidiaries
</span>&#8211; Companies, including partnerships, the financial statements of which are fully consolidated, directly or indirectly, with
the financial statements of the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Investee companies</span> &#8211;
Subsidiaries and companies, including partnerships, the Company&#8217;s investment in which is accounted for, directly or indirectly,
using the equity method.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Related party</span> &#8211; Within
its meaning in IAS 24 (2009), &#8220;Related Party Disclosures&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Interested parties</span> &#8211;
Within their meaning in Paragraph (1) of the definition of an &#8220;interested party&#8221; in Section 1 of the Securities Law - 1968.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Unless otherwise noted, all references
to &#8220;&#8364;,&#8221; &#8220;euro&#8221; or &#8220;EUR&#8221; are to the legal currency of the European Union, all references to &#8220;USD,&#8221;
&#8220;US dollar,&#8221; &#8220;dollars&#8221; and &#8220;$&#8221; are to United States dollars, and all references to &#8220;NIS&#8221;
are to New Israeli Shekels.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Other than as specifically noted,
all amounts translated into euro were translated based on the exchange rate as of December 31, 2023.</p></ix:nonNumeric><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 14; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" id="ixv-24343"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 2 - <span style="font-family: Times New Roman, Times, Serif">Basis
of Preparation</span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>A.</b></td><td style="text-align: justify"><b>Statement of compliance</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The consolidated financial
statements of the Company have been prepared in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) as issued
by the International Accounting Standards Board.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The consolidated financial statements
were authorized by the Company&#8217;s Board of Directors for issue on April 18, 2024.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>B.</b></td><td style="text-align: justify"><b>Functional and presentation currency</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">These consolidated
financial statements are presented in euro, which is the Company&#8217;s functional currency, and have been rounded to the nearest thousand,
except when otherwise indicated. The euro is the currency that represents the principal economic environment in which the Company operates.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>C.</b></td><td style="text-align: justify"><b>Basis of measurement</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The consolidated financial statements
have been prepared on the historical cost basis, except for the following assets and liabilities:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in">(i)</td><td style="text-align: justify">Investment in investee accounted for using
                                            the equity method;</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in">(ii)</td><td style="text-align: justify">Financial instruments, derivatives and
                                            other assets and liabilities measured at fair value through profit or loss; and</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in">(iii)</td><td style="text-align: justify">Deferred tax assets and liabilities.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>D.</b></td><td style="text-align: justify"><b>Operating cycle</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The operating cycle of the Company is
one year.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:nonNumeric><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 2 - <span style="font-family: Times New Roman, Times, Serif">Basis
of Preparation </span>(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory-c0_cont_2" id="_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>E.</b></td><td style="text-align: justify"><b>Use of estimates and judgments</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><i>Use of estimates</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The preparation of financial statements
in conformity with IFRS requires management to make judgments, estimates and assumptions, that affect the application of accounting policies
and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The determination of accounting estimates
used in the preparation of the Company&#8217;s financial statements requires that management of the Company makes assumptions regarding
circumstances and events that involve considerable uncertainty. The Company&#8217;s management prepares the estimates on the basis of
past experience, various facts, external circumstances and reasonable assumptions according to the pertinent circumstances of each estimate.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period
in which the estimates are revised and in any future periods affected.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The key assumptions made in the financial
statements with respect to the future and other reasons for uncertainty with respect to estimates that have a significant risk of resulting
in a material adjustment to carrying amounts of assets and liabilities within the next financial year are discussed below:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>Recoverable amount of cash generating
unit:</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company examines at the end of each
reporting year whether there have been any events or changes in circumstances that indicate impairment of cash-generating units. When
an indication of impairment is revealed, the Company checks whether the carrying amount of the cash-generating units is recoverable.
An impairment loss is recognized if the carrying amount of the cash-generating unit exceeds its estimated recoverable amount. A principal
assumption of this estimate is the allocation of fair value (less costs of disposal) to the cash-generating units of the Company and
a possible effect of this estimate is change of the impairment loss. For more information see Note 6D.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>Fair value measurement of non-trading
derivatives:</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Within the scope of the valuation of
financial assets and derivatives not traded on an active market, management makes assumptions about inputs used in the valuation models.
Principal assumptions of this estimate are unobservable inputs used in the valuation model (especially standard deviation and discount
rates) and a possible effect of this estimate is profit or loss from a change in the fair value of those financial assets and derivatives.
For information on a sensitivity analysis of levels 2 and 3 financial instruments carried at fair value see Note 21 regarding financial
instruments.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>Recognition of deferred tax asset
in respect of tax losses:</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">A principal assumption of this estimate
is the probability that in the future there will be taxable profits against which carried forward losses can be utilized. A possible
effect of this estimate is recognition or reversal of deferred tax asset in profit or loss. See Note 19 regarding taxes on income.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>Determination of fair value:</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">Preparation of the financial statements
requires the Company to determine the fair value of certain assets and liabilities. Further information about the assumptions that were
used to determine fair value is included in Note 15, on share-based payments and Note 21, on financial instruments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 100.35pt; text-align: justify; text-indent: -28.35pt"></p><div>

</div><!-- Field: Page; Sequence: 16; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 100.35pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 2 - <span style="font-family: Times New Roman, Times, Serif">Basis
of Preparation </span>(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><ix:continuation id="_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>F.</b></td><td style="text-align: justify"><b>Initial application of new standards,
                                            amendments to standards and interpretations</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>1.</b></td><td style="text-align: justify"><b>Amendment to IAS 1, <i>Presentation
                                            of Financial Statements: &#8220;Disclosure of Accounting Policies.&#8221; </i>(&#8220;the
                                            IAS 1 Amendment&#8221;)</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Effective January 1, 2023, the Company
adopted IAS 1 Amendment and IFRS Practice Statement 2 &#8211;&#160;Disclosure of Accounting Policies (&#8220;IFRS Practice Statement
2&#8221;). The IAS 1 Amendment and IFRS Practice Statement 2 require the Company to disclose its material accounting policies instead
of its significant accounting policies. As a result of the adoption of these amendments, the accounting disclosure provided in the financial
statements for 2023 was reduced and adjusted according to the Company&#8217;s specific circumstances.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>2.</b></td><td style="text-align: justify"><b>Amendment to IAS 12, <i>Income
                                            Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction</i>
                                            (&#8220;the IAS 12 Amendment&#8221;)</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The IAS 12 Amendment narrows the scope
of the exemption from recognizing deferred taxes as a result of temporary differences created at the initial recognition of assets and/or
liabilities, so that it does not apply to transactions that give rise to equal and offsetting temporary differences.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As a result, companies will need to recognize
a deferred tax asset or a deferred tax liability for these temporary differences at the initial recognition of transactions that give
rise to equal and offsetting temporary differences, such as lease transactions and provisions for decommissioning and restoration.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The IAS 12 Amendment is effective for
annual periods beginning on or after January 1, 2023. For deferred taxes arising from leases and decommissioning and restoration liabilities,
the Amendment is applied by amending the opening balance of retained earnings for the earliest comparative data presented.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Application of the Amendment did not
have a material effect on the financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>G.</b></td><td style="text-align: justify"><b>Retrospective
                                            <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">classification</span></b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Comparative amounts of other comprehensive
income were retrospectively classified in order to present the change in fair value of cash flow hedges transferred to profit
or loss, which resulted in approximately &#8364; <ix:nonFraction contextRef="c73" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:OtherComprehensiveIncome" scale="6" unitRef="eur" id="ixv-65061">37.3</ix:nonFraction> million and &#8364;<ix:nonFraction contextRef="c74" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:OtherComprehensiveIncome" scale="6" unitRef="eur" id="ixv-65062">21.8</ix:nonFraction> million being reclassified
for 2022 and 2021, respectively, from Effective portion of change in fair value of cash flow hedges to Net change in fair value of cash
flow hedges transferred to profit or loss. This classification did not have any effect on the profit (loss) and on the Total other comprehensive
income (loss) for the year.</p></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><!-- Field: Page; Sequence: 17; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory" id="ixv-24579"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 3 - Material Accounting
Policies</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The accounting policies set out below
have been applied consistently for all periods presented in these consolidated financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><b>&#160;</b></p>

<ix:nonNumeric contextRef="c0" continuedAt="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_1" escape="true" name="ello:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements" id="ixv-24587"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Basis of consolidation and equity method accounting </b></td></tr></table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_2" id="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_1"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(1)</b></td><td style="text-align: justify"><b>Subsidiaries</b></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<ix:continuation continuedAt="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_3" id="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Subsidiaries are entities controlled
by the Company. Control exists when the Company is exposed, or has rights, to variable returns from its involvement with the acquiree
and it has the ability to affect those returns through its power over the acquiree. Substantive rights held by the Company and others
are taken into account when assessing control. The financial statements of subsidiaries are included in the consolidated financial statements
from the date that control commences until the date that control is lost.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_4" id="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_3"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(2)</b></td><td style="text-align: justify"><b>Non-controlling interests</b></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<ix:continuation continuedAt="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_5" id="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Non-controlling interests comprise the
equity of a subsidiary that cannot be attributed, directly or indirectly, to the parent company and they include additional components
such as Issuance of capital note only to the non-controlling interest and share options of subsidiaries.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_6" id="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Allocation of profit or loss and other
comprehensive income to the shareholders</span></p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_7" id="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Profit or loss and any part of other
comprehensive income are allocated to the owners of the Company and the non-controlling interests. Total comprehensive income is allocated
to the owners of the Company and the non-controlling interests even if the result is a negative balance of non-controlling interests.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_8" id="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Transactions with non-controlling
interests, while retaining control</span></p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_9" id="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Transactions with non-controlling interests
while retaining control are accounted for as equity transactions. Any difference between the consideration paid or received and the change
in non-controlling interests is included in the owners&#8217; share in equity of the Company directly in Transaction reserve with non-controlling
interests.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_10" id="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_9"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(3)</b></td><td style="text-align: justify"><b>Investment in associates and joint ventures (equity accounted
investees)</b></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<ix:continuation continuedAt="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_11" id="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_10"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Associates are those entities in which
the Company has significant influence, but not control or joint control, over the financial and operating policies. There is a rebuttable
presumption that significant influence exists when the Company holds between <ix:nonFraction contextRef="c75" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:PercentageOfEntitysRevenue" scale="-2" unitRef="pure" id="ixv-65063">20</ix:nonFraction>% and <ix:nonFraction contextRef="c76" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:PercentageOfEntitysRevenue" scale="-2" unitRef="pure" id="ixv-65064">50</ix:nonFraction>% of another entity. Joint ventures are joint
arrangements in which the Company has rights to the net assets of the arrangement.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_12" id="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_11"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Associates and joint ventures are accounted
for using the equity method (equity accounted investees) and are recognized initially at cost. The cost of the investment includes transaction
costs that are directly attributable to an expected acquisition of an associate or joint venture. The consolidated financial statements
include the Company&#8217;s share of the income and expenses in profit or loss and of other comprehensive income of equity accounted
investees, after adjustments to align the accounting policies with those of the Company, from the date that significant influence commences
until the date that significant influence ceases.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation></ix:nonNumeric><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 18; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 3  - Material Accounting Policies
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Basis of consolidation and equity
                                            method accounting (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(3)</b></td><td style="text-align: justify"><b>Investment in associates and joint ventures (equity accounted
investees) (cont&#8217;d)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_2" id="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_1"><ix:continuation id="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements-c0_cont_12"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Long-term interests in associates and
joint ventures that, in substance, form part of the net investment in the associate or joint venture, such as preferred shares and long-term
loans that their repayment is not expected and is unlikely to occur in the foreseeable future, are first accounted for in accordance
with the guidance of IFRS 9 and then the equity method is applied in accordance with the guidance of IAS 28.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" id="ixv-24704"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>B.</b></td><td style="text-align: justify"><b>Foreign currency</b></td></tr></table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(1)</b></td><td style="text-align: justify"><b>Foreign currency transactions</b></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Transactions in foreign currencies are
translated to the respective functional currencies of the Company at exchange rates at the dates of the transactions. Monetary assets
and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency at the exchange rate
at that date. The foreign currency gain or loss on monetary items is the difference between amortized cost in the functional currency
at the beginning of the year, adjusted for effective interest and payments during the year, and the amortized cost in foreign currency
translated at the exchange rate at the end of the year.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Non-monetary assets and liabilities denominated
in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date that
the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated
using the exchange rate at the date of the transaction.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_5" id="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Foreign currency differences arising
on translation are generally recognized in profit or loss, except for qualifying cash flow hedges to the extent the hedge is effective,
which are recognized in other comprehensive income.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_6" id="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_5"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(2)</b></td><td style="text-align: justify"><b>Foreign operations</b></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_7" id="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The assets and liabilities of foreign
operations, including adjustments arising on consolidation, are translated at exchange rates at the reporting date. The income and expenses
for each period presented in the statement of profit or loss and other comprehensive income (loss) are translated at average exchange
rates for the presented periods; however, if exchange rates fluctuate significantly, income and expenses are translated at the exchange
rates at the date of the transactions.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_8" id="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Foreign currency exchange differences
are recognized in equity as a separate component of other comprehensive income (loss): &#8220;foreign currency translation adjustments&#8221;.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_9" id="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">When the foreign operation is a non-wholly-owned
subsidiary of the Company, then the relevant proportionate share of the foreign operation translation difference is allocated to the
non-controlling interests.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 19; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 3  - Material Accounting Policies
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>B.</b></td><td style="text-align: justify"><b>Foreign currency (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(2)</b></td><td style="text-align: justify"><b>Foreign operations (cont&#8217;d)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_3" id="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_2"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_10" id="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Foreign exchange gains and losses arising
from a monetary item receivable from, or payable to, a foreign operation, the settlement of which is neither planned nor likely in the
foreseeable future, are considered to form part of a net investment in a foreign operation and are recognized in other comprehensive
income (loss) and are presented within equity as part of the translation reserve.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><b>&#160;</b></p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_11" id="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_10"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(3)</b></td><td style="text-align: justify"><b>Presentation Currency</b></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<ix:continuation id="_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-c0_cont_11"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">For the convenience of the reader, the
reported euro figures as of December 31, 2023 and for the year then ended, are also presented in dollars, translated at the representative
rate of exchange as of December 31, 2023 (euro <ix:nonFraction contextRef="c77" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:ClosingForeignExchangeRate" scale="0" unitRef="pure" id="ixv-65065">1.106</ix:nonFraction> = US$ <ix:nonFraction contextRef="c78" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:ClosingForeignExchangeRate" scale="0" unitRef="pure" id="ixv-65066">1.00</ix:nonFraction>). The dollar amounts presented in these financial statements should not
be construed as representing amounts that are receivable or payable in dollars or convertible into dollars, unless otherwise indicated.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: 7.65pt"><b><i>&#160;</i></b></p>

<ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" id="ixv-24819"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>C.</b></td><td style="text-align: justify"><b>Financial instruments</b></td>
</tr></table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(1)</b></td><td style="text-align: justify"><b>Trade accounts receivables, services concession receivables
and other receivables</b></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company initially recognizes receivables
on the date that they are created. Receivables without a significant financing component are initially measured at the transaction price
and subsequently measured at amortized cost, using the effective interest method. The amortized cost is reduced by impairment losses.
Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_3"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(2)</b></td><td style="text-align: justify"><b>Non-derivative financial liabilities</b></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_5" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company&#8217;s financial liabilities
include loans and borrowings, trade payables, other payables, finance lease obligations, debentures, long-term loans and other long-term
liabilities.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_6" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company initially recognizes debt
securities issued on the date that they originated. All other financial liabilities are recognized initially on the trade date at which
the Company becomes a party to the contractual provisions of the instrument.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_7" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Financial liabilities are recognized
initially at fair value less any directly attributable transaction costs. Subsequent to initial recognition, these financial liabilities
are measured at amortized cost using the effective interest method.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_8" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Financial liabilities are derecognized
when the obligation of the Company, as specified in the agreement, expires or when it is discharged or cancelled.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_9" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_8"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(3)</b></td><td style="text-align: justify"><b>Derivative financial instruments, including hedge accounting</b></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_10" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company holds both derivative financial
instruments to hedge its interest rate risk exposures and fluctuating electricity prices risk exposures and derivatives that do not serve
hedging purposes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 20; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 3 -  Material Accounting Policies
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>C.</b></td><td style="text-align: justify"><b>Financial instruments (cont&#8217;d)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(3)</b></td><td style="text-align: justify"><b>Derivative financial instruments, including hedge accounting
(cont&#8217;d)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_4" id="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_3"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_11" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_10"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><b><i>Hedge
accounting </i></b></p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_12" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_11"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company designates certain derivatives
as hedging instruments in order to hedge changes in cash flows that relate to highly probable forecasted transactions and which derive
from changes in fluctuation in the electricity prices and changes in interest on variable-rate loans. The Company continues to apply
IAS 39 for the hedge accounting.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_13" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_12"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company makes an assessment, both
at the inception of the hedge relationship as well as on an ongoing basis, as to whether the hedging instruments are expected to be &#8220;highly
effective&#8221; in offsetting the changes in the fair value or cash flows of the respective hedged items during the period for which
the hedge is designated, and whether the actual results of each hedge are within a range of <ix:nonFraction contextRef="c75" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfHedge" scale="-2" unitRef="pure" id="ixv-65067">80</ix:nonFraction>-<ix:nonFraction contextRef="c76" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfHedge" scale="-2" unitRef="pure" id="ixv-65068">125</ix:nonFraction> percent.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_14" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_13"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><b><i>Measurement
of derivative financial instruments</i></b></p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_15" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_14"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Derivatives are recognized initially
at fair value and attributable transaction costs are recognized in profit or loss as incurred. Subsequent to initial recognition, derivatives
are measured at fair value, and changes therein are accounted for as described below.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify; text-indent: 56.7pt">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_16" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_15"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><b><i>Cash flow
hedges</i></b></p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_17" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_16"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">When a derivative instrument is designated
as a cash flow hedge, the effective portion of the changes in fair value of the derivative is recognized in other comprehensive income,
directly within a hedging reserve. The effective portion of changes in fair value of a derivative, recognized in other comprehensive
income, is limited to the cumulative change in fair value of the hedged item (based on present value), from inception of the hedge. The
change in fair value in respect of the ineffective portion is recognized immediately in profit or loss.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_18" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_17"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">If the hedge no longer qualifies as an
accounting hedge, or the hedging instrument is sold, expires, is terminated or exercised, hedge accounting is discontinued on a prospective
basis. When hedge accounting is discontinued, the amounts accumulated in the past in the hedging reserve and cost of hedging reserve
remain in the reserve, until such time as they are included in the initial cost of the non-financial item (for hedged transactions whose
result is a non-financial item), or until such time as they are reclassified to profit or loss in the period, or periods, in which the
hedged forecasted future cash flows affect profit or loss (for other cash flows hedges).</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_19" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_18"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><b><i>Economic
hedges</i></b></p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_20" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_19"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Hedge accounting is not applied to derivative
instruments that economically hedge financial assets and liabilities denominated in foreign currencies. Changes in the fair value of
such derivatives are recognized in profit or loss under financing income or expenses.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_21" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_20"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(4)</b></td><td style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><b>Interest Rate Benchmark Reform</b></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_22" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_21"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">When the basis for determining the contractual
cash flows of a financial asset or financial liability measured at amortized cost changes as a result of interest rate benchmark reform,
the Company updates the effective interest rate of the financial asset or financial liability to reflect the change required by the reform.
When changes are made to a financial asset or financial liability in addition to changes to the basis for determining the contractual
cash flows required by interest rate benchmark reform, in addition to adjusting the effective interest rate as a result of the reform
the Company applies on accounting for substantial modifications in terms of debt instruments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 21; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 3  - Material Accounting Policies
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>C.</b></td><td style="text-align: justify"><b>Financial instruments (cont&#8217;d)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_5" id="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_4"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_23" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_22"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(5)</b></td><td style="text-align: justify"><b>CPI-linked assets and liabilities that are not measured
at fair value</b></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">&#160;</p>

<ix:continuation id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_23"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The value of CPI-linked financial assets
and liabilities, which are not measured at fair value, is re-measured every period in accordance with the actual increase/decrease in
the CPI.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" id="ixv-25026"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>D.</b></td><td style="text-align: justify"><b>Fixed assets</b></td>
</tr></table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left">(1)</td><td style="text-align: justify"><i>Recognition and measurement</i></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Fixed assets items are measured at cost
less accumulated depreciation. Cost includes expenditures that are directly attributable to the acquisition of the fixed asset. The cost
of self-constructed assets includes the cost of materials and direct labor, any other costs directly attributable to bringing the assets
to a working condition for their intended use, an estimate of the costs of dismantling and removing the items and restoring the site
on which they are located, and capitalized borrowing costs (mainly specific). Project licenses are included in the cost of photovoltaic
plants.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The costs of replacing part of a fixed
asset item and other subsequent expenses are capitalized if it is probable that the future economic benefits associated with them will
flow to the Company and their cost can be measured reliably. The carrying amount of the replaced part of a fixed asset item is derecognized.
The costs of day-to-day servicing are recognized in profit or loss as incurred.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_5" id="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Gains and losses on disposal of a fixed
asset item are determined by comparing the net proceeds from disposal with the carrying amount of the asset, and are recognized in profit
or loss.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_6" id="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_5"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left">(2)</td><td style="text-align: justify"><i>Depreciation</i></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

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of the depreciable amount of an asset over its useful life. The depreciable amount is the cost of the asset, or other amount substituted
for cost, less its residual value. An asset is depreciated from the date it is ready for use, meaning the date it reaches the location
and condition required for it to operate in the manner intended by management. Depreciation is recognized in profit or loss on a straight-line
basis over the estimated useful lives of each part of the fixed asset item.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation id="ello_DisclosureOfDetailedInformationAboutScheduleOfEstimatedUsefulLivesExplanatory-c0_cont_1"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_9" id="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_8"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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per annum</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  </table></ix:continuation></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation id="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The estimated useful life of the project
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life of the project licenses of the Company&#8217;s Netherlands anaerobic digestion plants that are carried at cost is 13 years. The
fixed assets residual values, useful lives and methods of depreciation are reviewed at each financial year-end and adjusted if appropriate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 22; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 3  - Material Accounting Policies
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_6" id="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_5"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory" id="ixv-25136"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>E.</b></td><td style="text-align: justify"><b>Impairment for non-financial assets</b></td>
</tr></table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The carrying amounts of the Company&#8217;s
non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication
exists, then the asset&#8217;s recoverable amount is estimated.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">For the purpose of impairment testing,
assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing
use that are largely independent of the cash inflows of other assets or groups of assets (the &#8220;cash-generating unit&#8221;). The
Company views each PV plant as a separate cash-generating unit.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation id="_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The recoverable amount of an asset or
cash-generating unit is the greater of its fair value less costs of disposal and its value in use.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory" id="ixv-25155"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>F.</b></td><td style="text-align: justify"><b>Leases</b></td>
</tr></table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 36pt"/><td style="width: 34.9pt"><i>(1)</i></td><td style="text-align: justify"><i>Leased assets and lease liabilities</i></td></tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Contracts that award the Company control
over the use of a leased asset for a period of time in exchange for consideration are accounted for as leases. Upon initial recognition,
the Company recognizes a liability at the present value of the balance of future lease payments (these payments do not include certain
variable lease payments), and concurrently recognizes a right-of-use asset at the same amount of the lease liability, adjusted for any
prepaid or accrued lease payments, plus initial direct costs incurred in respect of the lease.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Since the interest rate implicit in the
Company&#8217;s leases is not readily determinable, the incremental borrowing rate of the lessee is used. Subsequent to initial recognition,
the right-of-use asset is accounted for using the cost model and depreciated over the shorter of the lease term or useful life of the
asset.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_5" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company has elected to apply the
practical expedient by which short-term leases of up to one year and/or leases in which the underlying asset has a low value, are accounted
for such that lease payments are recognized in profit or loss on a straight-line basis, over the lease term, without recognizing an asset
and/or liability in the statement of financial position.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_6" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_5"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 36pt"/><td style="width: 34.9pt"><i>(2)</i></td><td style="text-align: justify"><i>Variable lease payments</i></td></tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_7" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Variable lease payments that depend on
an index or a rate, are initially measured using the index or rate existing at the commencement of the lease and are included in the
measurement of the lease liability. When the cash flows of future lease payments change as the result of a change in an index or a rate,
the balance of the liability is adjusted against the right-of-use asset. Other variable lease payments that are not included in the measurement
of the lease liability are recognized in profit or loss in the period in which the event or condition that triggers payment occurs.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_8" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_7"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 36pt"/><td style="width: 34.9pt"><i>(3)</i></td><td style="text-align: justify"><i>Depreciation of right-of-use
                                            asset</i></td></tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">After lease commencement, a right-of-use
asset is measured on a cost basis less accumulated depreciation and accumulated impairment losses and is adjusted for re-measurements
of the lease liability. Depreciation is calculated on a straight-line basis over the useful life or contractual lease period, whichever
earlier. The main right of use assets are lands which are depreciated over <ix:nonNumeric contextRef="c75" format="ixt-sec:duryear" name="ello:DepreciatedTerm" id="ixv-65081">20</ix:nonNumeric>-<ix:nonNumeric contextRef="c76" format="ixt-sec:duryear" name="ello:DepreciatedTerm" id="ixv-65082">40</ix:nonNumeric> years.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 23; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 3  - Material Accounting Policies
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_7" id="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_6"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue" id="ixv-25236"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>G.</b></td><td style="text-align: justify"><b>Revenue recognition</b></td>
</tr></table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_2" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Revenues are derived primarily from the
sale of electricity and natural gas to customers. Revenues are recognized when the customer obtains control over the promised products,
i.e. when the natural gas or electricity is delivered to the customer. The revenue is measured according to the amount of consideration
to which the Company expects to be entitled in exchange for the products promised to the customer, other than amounts collected for third
parties.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_3" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Revenues from the sale of electricity
and natural gas are recognized when the units produced are transferred to the grid at connection points on the basis of a meter reading.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_4" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Revenues in respect of units produced
and transferred to the grid in the period between the most recent meter reading and the date of the statement of financial position,
are included based on an estimate.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In some of the Company&#8217;s PV plants
in Spain, the proceeds from the sale of electricity also depend on the subsidies granted by the local government in accordance with changes
in the market prices of electricity. The Company measures revenues while taking into account the increase or decrease of the subsidies
it will receive as a result of changes in market prices throughout the current year.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory" id="ixv-25258"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>H.</b></td><td style="text-align: justify"><b>Income tax</b></td>
</tr></table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

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deferred tax. Current tax and deferred tax are recognized in profit or loss except to the extent that the tax arises from items which
are recognized directly in equity. In such cases, the tax effect is also recognized in the relevant item in equity.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Deferred tax is recognized in respect
of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used
for taxation purposes, except for a limited number of exceptions, including differences relating to investments in subsidiaries, joint
arrangements and associates, to the extent that the Company is able to control the timing of the reversal of the temporary difference
and it is probable that they will not reverse in the foreseeable future, either by way of selling the investment or by way of distributing
dividends in respect of the investment.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">A deferred tax asset is recognized for
unused tax losses, tax benefits and deductible temporary differences, to the extent that it is probable that future taxable profits will
be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent
that it is no longer probable that the related tax benefit will be realized.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation id="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Deferred tax assets that were not recognized
are reevaluated at each reporting date and recognized if it has become probable that future taxable profits will be available against
which they can be utilized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><!-- Field: Page; Sequence: 24; Value: 1 --><div>
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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="margin: 0"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="margin: 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 3 - Material Accounting Policies
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p><div>

</div><ix:continuation continuedAt="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_8" id="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_7"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory" id="ixv-25313"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>I.</b></td><td style="text-align: justify"><b>Financing income and expenses</b></td>
</tr></table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

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on bank deposits and marketable securities, gains on changes in the fair value of financial assets at fair value through profit or loss,
gains on hedging instruments that are recognized in profit or loss and exchange rate differences. Interest income is recognized as it
accrues. Changes in the fair value of financial assets at fair value through profit or loss also include income from dividends and interest.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Financing expenses consist of bank charges,
interest expenses on borrowings and debentures, changes in the fair value of financial assets at fair value through profit or loss, losses
on hedging instruments that are recognized in profit or loss, and exchange rate differences.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

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to qualifying assets, are recognized in profit or loss using the effective interest method. Foreign currency gains and losses on financial
assets and financial liabilities are reported on a net basis as either financing income or financing expenses depending on whether foreign
currency movements are in a net gain or net loss position.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<ix:continuation id="_DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In the statements of cash flows, interest
received and interest paid are presented as part of cash flows from operating activities. Financing costs that were capitalized to qualifying
assets are presented as part of cash flows from investment activities<b>.</b></p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForServiceConcessionArrangementsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForServiceConcessionArrangementsExplanatory" id="ixv-25337"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>J.</b></td><td style="text-align: justify"><b>Service concession arrangements</b></td>
</tr></table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p>

<ix:continuation continuedAt="_DescriptionOfAccountingPolicyForServiceConcessionArrangementsExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForServiceConcessionArrangementsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">As part of service concession arrangements
with government bodies for the construction and operation of a facility in consideration for fixed and variable payments, the Company
recognizes a financial asset commencing from the start of the construction of the facility when it has an unconditional right to receive
cash or some other financial asset for the construction services. The financial asset reflects the unconditional payments receivable in
the future from the government body and bears an appropriate rate of interest for risk that is determined based on the risk of the customer.
The aforementioned financial assets are stated at fair value upon initial recognition and at amortized cost in subsequent periods. As
from January 1, 2018, the Company&#8217;s right to receive consideration for the construction services, constitutes a contract asset until
the end of the construction period.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation id="_DescriptionOfAccountingPolicyForServiceConcessionArrangementsExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In projects accounted for using the financial
asset model, when at the end of the construction period there is an unconditional right (other than that of the passing of time) to receive
consideration for the construction services, the contract asset is classified to receivables (financial asset) according to the carrying
amount of the contract asset.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory" id="ixv-25355"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>K.</b></td><td style="text-align: justify"><b>Discontinued operations</b></td>
</tr></table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<ix:continuation id="_DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company classifies an operation as
a discontinued operation when it meets the criteria to be classified as held for sale. The discontinued operation is a component of the
Company&#8217;s business that represents a separate major line of business. The comparative income statement is restated as if the operation
had been discontinued from the start of the earliest comparative period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 25; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 3 - Material Accounting Policies
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><ix:continuation id="_DisclosureOfMaterialAccountingPolicyInformationExplanatory-c0_cont_8"><ix:nonNumeric contextRef="c0" continuedAt="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory-c0_cont_1" escape="true" name="ello:DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory" id="ixv-25403"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>L.</b></td><td style="text-align: justify"><b>New standards, amendments to standards and interpretations
not yet adopted</b></td>
</tr></table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory-c0_cont_2" id="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>Amendment to IAS 1, <i>Presentation
of Financial Statements: Classification of Liabilities as Current or Non-Current (&#8220;the IAS 1 Amendment&#8221;) and subsequent amendment:
Non-Current Liabilities with Covenants (&#8220;the IAS 1Subsequent Amendment&#8221;)</i></b></p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory-c0_cont_3" id="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The IAS 1 Amendment, together with the
IAS 1 Subsequent Amendment (see below), replaces certain requirements for classifying liabilities as current or non-current.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory-c0_cont_4" id="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">According to the IAS 1 Amendment, a liability
will be classified as non-current when the entity has the right to defer settlement for at least 12 months after the reporting period,
and it &#8220;has substance&#8221; and is in existence at the end of the reporting period.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory-c0_cont_5" id="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">According to the IAS 1 Subsequent Amendment,
as published in October 2022, covenants with which the entity must comply after the reporting date do not affect classification of the
liability as current or non-current. Additionally, the IAS 1 Subsequent Amendment adds disclosure requirements for liabilities subject
to covenants within 12 months after the reporting date, such as disclosure regarding the nature of the covenants, the date they need to
be complied with and facts and circumstances that indicate the entity may have difficulty complying with the covenants. Furthermore, the
IAS 1 Amendment clarifies that the conversion option of a liability will affect its classification as current or non-current, other than
when the conversion option is recognized as equity.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory-c0_cont_6" id="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The IAS 1 Amendment and the IAS 1 Subsequent
Amendment are effective for reporting periods beginning on or after January 1, 2024 with earlier application being permitted. The IAS
1 Amendment and IAS 1 Subsequent Amendment are applicable retrospectively, including an amendment to comparative data.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<ix:continuation id="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In the opinion of the Company, with regard
to current loans and covenants of the Company, application of the IAS 1 Amendment and the IAS 1 Subsequent Amendment is not expected to
have a material effect on the Company.</p></ix:continuation></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 26; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory" id="ixv-25457"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 4 - Cash and Cash Equivalents</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c0" escape="true" name="ello:DisclosureOfCashAndCashEquivalentstableTextBlock" id="ixv-25461"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company&#8217;s exposure to credit,
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory" id="ixv-25537"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 5 - Restricted Cash, Deposits and Marketable
Securities</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<ix:nonNumeric contextRef="c0" continuedAt="ello_DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory-c0_cont_1" escape="true" name="ello:DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory" id="ixv-25543"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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securities</span></td><td style="padding-bottom: 4pt; width: 1%; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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  <tr style="vertical-align: bottom; background-color: White">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="ello_DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in">(1)</td><td style="text-align: justify"><ix:footnote id="ix_2_footnote" xml:lang="en-US">Deposits used to secure obligations under agreements (see Notes 6 and 21E(3)) and loan
agreements (see Note 11).</ix:footnote></td></tr></table></ix:continuation></ix:nonNumeric><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 27; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory" id="ixv-25672"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 6 - Investee Companies and other investments</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Equity accounted investees</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white"><b>Ellomay Luzon Energy Infrastructures
Ltd. (&#8220;Ellomay Luzon Energy&#8221;)&#8211; </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Since November 2010, the Company indirectly
(through Ellomay Clean Energy LP (&#8220;Ellomay Energy LP&#8221;)) holds <ix:nonFraction contextRef="c87" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfShareCapitalHolds" scale="-2" unitRef="pure" id="ixv-65098">50</ix:nonFraction>% of Ellomay Luzon Energy (formerly U. Dori Energy Infrastructures
Ltd.). Ellomay Luzon Energy holds <ix:nonFraction contextRef="c88" decimals="4" format="ixt:num-dot-decimal" name="ello:PercentageOfShareCapitalHolds" scale="-2" unitRef="pure" id="ixv-65099">18.75</ix:nonFraction>% of the share capital of Dorad Energy Ltd. (&#8220;Dorad&#8221;), which owns an approximate 850
MWp dual-fuel operated power plant in the vicinity of Ashkelon, Israel (the &#8220;Dorad Power Plant&#8221;). The investment in Ellomay
Luzon Energy is accounted for under the equity method.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On May 12, 2014, Dorad was issued a production
license for <ix:nonNumeric contextRef="c89" format="ixt-sec:duryear" name="ello:IssuedProductionLicenses" id="ixv-65100">20</ix:nonNumeric> years and on May 19, 2014, Dorad began commercial operation of the power plant. In July 2015, Dorad was issued a long-term
supply license that will expire on <ix:nonNumeric contextRef="c90" format="ixt:date-monthname-day-year-en" name="ello:LicenseExpired" id="ixv-65101">May 11, 2034</ix:nonNumeric>.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">Effective December 31, 2022, Ellomay
Energy LP and Ellomay Luzon Energy entered into a loan agreement and capital notes agreements, which provide for the conversion of approximately
NIS <ix:nonFraction contextRef="c91" decimals="-3" format="ixt:num-dot-decimal" name="ello:ShareholdersLoans" scale="3" unitRef="ils" id="ixv-65102">23,467</ix:nonFraction> thousand of the then outstanding shareholders&#8217; loans provided by them to Ellomay Luzon Energy to capital notes, payable
not less than 60 months after the date of their execution, at the sole discretion of Ellomay Luzon Energy, with the remaining balance
of shareholders&#8217; loans (NIS <ix:nonFraction contextRef="c4" decimals="-6" format="ixt:num-dot-decimal" name="ello:ShareholdersLoans" scale="6" unitRef="ils" id="ixv-65103">10</ix:nonFraction> million), linked to the Israeli CPI and bearing an annual interest equal to the interest payable
on Dorad&#8217;s senior debt plus <ix:nonFraction contextRef="c2" decimals="2" format="ixt:num-dot-decimal" name="ello:InterestPayableOnDebtPercentage" scale="-2" unitRef="pure" id="ixv-65104">3</ix:nonFraction>%, with a repayment date of December 31, 2023. The Luzon Group entered into a similar loan agreement
and capital notes with respect to its portion of the shareholders&#8217; loans. During the year ended December 31, 2023, Ellomay Luzon
Energy repaid all outstanding shareholders&#8217; loans. Such shareholders&#8217; loans were repaid from proceeds from dividends distributed
by Dorad.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">As of December 31, 2023, Dorad provided,
through its shareholders at their proportionate holdings and as required by the financing agreements executed by Dorad, guarantees in
favor of the Israeli Electricity Authority, NOGA &#8211; electricity system management and Israel Natural Gas Lines Ltd. in the aggregate
amount of approximately NIS <ix:nonFraction contextRef="c68" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountFinancialAgreementGuaranteesByDirectShare" scale="3" unitRef="ils" id="ixv-65105">162,000</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c68" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountFinancialAgreementGuaranteesByDirectShare" scale="3" unitRef="eur" id="ixv-65106">40,400</ix:nonFraction> thousand). The Company&#8217;s indirect share of guarantees provided
on behalf of Dorad by Dorad&#8217;s shareholders is approximately NIS <ix:nonFraction contextRef="c92" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountFinancialAgreementGuaranteesByIndirectShare" scale="3" unitRef="ils" id="ixv-65107">15,000</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c92" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountFinancialAgreementGuaranteesByIndirectShare" scale="3" unitRef="eur" id="ixv-65108">3,700</ix:nonFraction> thousand).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">Dorad&#8217;s revenues and operating
expenses are affected by the average production component as determined by the Israeli Electricity Authority. The average production component
was reduced by approximately <ix:nonFraction contextRef="c93" decimals="3" format="ixt:num-dot-decimal" name="ello:PercentageOfAverageProductionReduced" scale="-2" unitRef="pure" id="ixv-65109">5.7</ix:nonFraction>% commencing January 1, 2021, increased by approximately <ix:nonFraction contextRef="c94" decimals="3" format="ixt:num-dot-decimal" name="ello:PercentageOfProductionIncrease" scale="-2" unitRef="pure" id="ixv-65110">13.6</ix:nonFraction>% commencing February 1, 2022, increased
by approximately <ix:nonFraction contextRef="c95" decimals="3" format="ixt:num-dot-decimal" name="ello:PercentageOfProductionIncrease" scale="-2" unitRef="pure" id="ixv-65111">9.4</ix:nonFraction>% compared to the 2021 tariff, commencing May 1, 2022, increased by approximately <ix:nonFraction contextRef="c96" decimals="3" format="ixt:num-dot-decimal" name="ello:PercentageOfProductionIncrease" scale="-2" unitRef="pure" id="ixv-65112">24.3</ix:nonFraction>% compared to the 2021 tariff,
decreased by approximately <ix:nonFraction contextRef="c97" decimals="3" format="ixt:num-dot-decimal" name="ello:PercentageOfAverageProductionReduced" scale="-2" unitRef="pure" id="ixv-65113">0.7</ix:nonFraction>% commencing January 1, 2023, decreased by approximately <ix:nonFraction contextRef="c98" decimals="3" format="ixt:num-dot-decimal" name="ello:PercentageOfAverageProductionReduced" scale="-2" unitRef="pure" id="ixv-65114">1.2</ix:nonFraction>% from February 1, 2023, decreased by approximately
<ix:nonFraction contextRef="c99" decimals="3" format="ixt:num-dot-decimal" name="ello:PercentageOfAverageProductionReduced" scale="-2" unitRef="pure" id="ixv-65115">1.4</ix:nonFraction>% commencing April 1, 2023, and decreased by approximately <ix:nonFraction contextRef="c100" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfAverageProductionReduced" scale="-2" unitRef="pure" id="ixv-65116">1</ix:nonFraction>% commencing February 2024.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Dorad&#8217;s financing expenses are affected
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<ix:nonFraction contextRef="c102" decimals="3" format="ixt:num-dot-decimal" name="ello:PercentageOfProductionIncrease" scale="-2" unitRef="pure" id="ixv-65118">5.3</ix:nonFraction>% during 2022.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:nonNumeric><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 28; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 6 - Investee Companies and other investments
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Equity accounted investees (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white"><b>Ellomay Luzon Energy
Infrastructures Ltd. (&#8220;Ellomay Luzon Energy&#8221;) (cont&#8217;d)&#8211; </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_2" id="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">On November 22, 2020, the IEC filed a
third-party notice against Dorad in connection with a class action submitted against the IEC claiming that the IEC was negligent in overseeing
the private electricity manufacturers thereby damaging the electricity consumers. The claim against the IEC alleges that the private electricity
manufacturers provided false reports in the consumption plans they submitted to the system manager in the IEC, based on the standards
set by the Israeli Electricity Authority. On April 10, 2023, the court decided to reject the request to send a third-party notice to Dorad.
On June 11, 2023, IEC filed an appeal to the Israeli Supreme Court. On June 29, 2023, the Supreme Court decided that the respondents must
submit a written answer to the appeal by March 14, 2024, and the hearing of the appeal was set for May 6, 2024. At this point, based on
the advice of legal counsel, Dorad cannot estimate the outcome of this legal proceeding.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Dorad and its shareholders are involved
in several legal proceedings as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><i>Petition to Approve a Derivative
Claim filed by Ellomay Luzon Energy</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On July 16, 2015, Ellomay Luzon Energy
and Ellomay Luzon Energy&#8217;s representative on Dorad&#8217;s board of directors at the time, Mr. Hemi Raphael, filed a petition (the
&#8220;Petition&#8221;), for approval of a derivative action on behalf of Dorad with the Economic Department of the Tel Aviv-Jaffa</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">District Court. The Petition was filed
originally against Zorlu Enerji Elektrik Uretim A.S (&#8220;Zorlu&#8221;), which holds <ix:nonFraction contextRef="c103" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfShareCapitalHolds" scale="-2" unitRef="pure" id="ixv-65119">25</ix:nonFraction>% of Dorad, Zorlu&#8217;s current and past representatives
on Dorad&#8217;s board of directors and Wood Group Gas Turbines Services Ltd. (&#8220;Wood Group&#8221;) and several of its affiliates,
and thereafter amended to add Mr. Ori Edelsburg (a director in Dorad) and affiliated companies. The Petition requested, inter alia, that
the court instruct the defendants to disclose and provide to Dorad documents and information relating to the contractual relationship
between Zorlu and Wood Group, which included the transfer of funds from Wood Group to Zorlu in connection with the EPC agreement of the
Dorad Power Plant.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On December 27, 2016, this proceeding,
as well as the petition to approve a derivative claim filed by Edelcom mentioned below, were moved to an arbitration proceeding. On February
23, 2017, a statement of claim was filed by Ellomay Luzon Energy and Mr. Hemi Raphael on behalf of Dorad against Zorlu, Mr. Edelsburg,
Edelcom Ltd. (&#8220;Edelcom&#8221;) and Edeltech Holdings 2006 Ltd. (&#8220;Edeltech&#8221;) in which they repeated their claims included
in the Petition and in which they required the arbitrator to obligate the defendants, jointly and severally, to pay an amount of $<ix:nonFraction contextRef="c104" decimals="-3" format="ixt:num-dot-decimal" name="ello:ClaimsAmountPayment" scale="3" unitRef="usd" id="ixv-65120">183,367,953</ix:nonFraction>
plus interest and linkage to Dorad.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">In April 2017, the defendants filed their
statements of defense. Within the said statements of defense, Zorlu attached a third party notice against Dorad, Ellomay Luzon Energy
and the Luzon Group, in the framework of which it repeated the claims on which its defense statement was based and claimed, among other
claims, that if the plaintiffs&#8217; claim against Zorlu was accepted and would negate Zorlu&#8217;s right receive compensation and profit
from its agreement with Dorad and therefore Zorlu should be compensated in the amount of approximately NIS <ix:nonFraction contextRef="c105" decimals="-5" format="ixt:num-dot-decimal" name="ello:ClaimsAmountPayment" scale="6" unitRef="ils" id="ixv-65121">906.4</ix:nonFraction> million (approximately
&#8364;<ix:nonFraction contextRef="c105" decimals="-6" format="ixt:num-dot-decimal" name="ello:ClaimsAmountPayment" scale="6" unitRef="eur" id="ixv-65122">218</ix:nonFraction> million based on the then existing exchange rate). Similarly, also within their statement of defense, Edelcom, Mr. Edelsburg
and Edeltech (together, the &#8220;Edelsburg Group&#8221;) filed a third-party notice against Ellomay Luzon Energy claiming for breaches
by Ellomay Luzon Energy of the duty to act in good faith in contract negotiations and that any amount ruled will constitute unlawful enrichment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 29; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 6 - Investee Companies and other investments
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Equity accounted investees (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white"><b>Ellomay Luzon Energy Infrastructures
Ltd. (&#8220;Ellomay Luzon Energy&#8221;) (cont&#8217;d)&#8211; </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>Petition to Approve a Derivative Claim
filed by Ellomay Luzon Energy (cont&#8217;d)</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_3" id="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On October 1, 2017, Eilat Ashkelon Infrastructure
Services Ltd. (&#8220;EAIS&#8221;), which holds <ix:nonFraction contextRef="c106" decimals="3" format="ixt:num-dot-decimal" name="ello:PercentageOfShareCapitalHolds" scale="-2" unitRef="pure" id="ixv-65123">37.5</ix:nonFraction>% of Dorad&#8217;s shares, filed a statement of claim in the arbitration proceedings.
In its statement of claim, EAIS joins Ellomay Luzon Energy&#8217;s and Mr. Raphael&#8217;s request as set forth in the statement of claim
filed by them in the arbitration proceeding and raises claims that are similar to the claims raised by Ellomay Luzon Energy and Mr. Raphael.
In January 2018, the arbitrator provided its ruling that the legal validity of the actions or inactions of board members of Dorad will
be attributed to the entities that are shareholders of Dorad on whose behalf the relevant board member acted and the legal determinations,
if any, will be directed only towards the shareholders of Dorad.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">During January 2018, Mr. Edelsburg, Edelcom
and Zorlu filed their statement of defense in connection with the claim filed by EAIS and also filed third party notices against EAIS,
Ellomay Luzon Energy and the Luzon Group claiming that EAIS and the Luzon Group enriched themselves at Dorad&#8217;s account without providing
disclosure to the other shareholders and requesting that, should the position of Ellomay Luzon Energy and EAIS be accepted in the main
proceeding, the arbitrator, among other things, obligate EAIS to refund to Doard all of the rent paid to date and determine that Dorad
is not required to pay any rent in the future or determine that the rent fees be reduced to their market value and refund Dorad the excess
amounts paid by it to EAIS, determine that the board members that represent EAIS and Ellomay Luzon Energy breached their fiduciary duties
towards Dorad and obligate EAIS and Ellomay Luzon Energy to pay the amount of $<ix:nonFraction contextRef="c107" decimals="-6" format="ixt:num-dot-decimal" name="ello:ClaimsAmountPayment" scale="6" unitRef="usd" id="ixv-65124">140</ix:nonFraction> million (approximately &#8364;<ix:nonFraction contextRef="c107" decimals="-6" format="ixt:num-dot-decimal" name="ello:ClaimsAmountPayment" scale="6" unitRef="eur" id="ixv-65125">127</ix:nonFraction> million), plus interest
in the amount of $<ix:nonFraction contextRef="c101" decimals="-6" format="ixt:num-dot-decimal" name="ello:ClaimsInterestPaymentAmount" scale="6" unitRef="usd" id="ixv-65126">43</ix:nonFraction> million (approximately &#8364;<ix:nonFraction contextRef="c101" decimals="-6" format="ixt:num-dot-decimal" name="ello:ClaimsInterestPaymentAmount" scale="6" unitRef="eur" id="ixv-65127">39</ix:nonFraction> million), which is the amount Zorlu received for the sale of its rights under the
Dorad EPC agreement, and rule that in connection with the engineering and construction works performed by the Luzon Group, the Luzon Group
and Ellomay Luzon Energy are required to refund to Dorad or compensate the defendants in an amount of $<ix:nonFraction contextRef="c108" decimals="-6" format="ixt:num-dot-decimal" name="ello:RefundAmountInClaim" scale="6" unitRef="usd" id="ixv-65128">24</ix:nonFraction> million (approximately &#8364;<ix:nonFraction contextRef="c109" decimals="-6" format="ixt:num-dot-decimal" name="ello:RefundAmountInClaim" scale="6" unitRef="eur" id="ixv-65129">22</ix:nonFraction>
million), plus interest and linkage and, alternatively, determine that Mr. Edelsburg, Edelcom and Zorlu are entitled to indemnification
from the third parties for the entire amount they will be required to pay.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On February 15, 2021, the arbitrator approved
replacing the late Mr. Hemi Raphael as the claimant with Mr. Ran Fridrich. On June 28, 2023, the arbitration award was provided. For more
information see below under &#8220;Arbitration Award.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><i>Petition to Approve
a Derivative Claim filed by Edelcom</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">On July 25, 2016, Edelcom, which holds
<ix:nonFraction contextRef="c110" decimals="4" format="ixt:num-dot-decimal" name="ello:PercentageOfShareCapitalHolds" scale="-2" unitRef="pure" id="ixv-65130">18.75</ix:nonFraction>% of Dorad, filed a petition for approval of a derivative action on behalf of Dorad (the &#8220;Edelcom Petition&#8221;) against
Ellomay Energy LP, Luzon Group, Ellomay Luzon Energy and Dorad following a letter delivered to Dorad on February 25, 2016. The Edelcom
Petition refers to an entrepreneurship agreement that was signed on November 25, 2010, between Dorad and the Luzon Group, pursuant to
which the Luzon Group received payment in the amount of approximately NIS <ix:nonFraction contextRef="c107" decimals="-5" format="ixt:num-dot-decimal" name="ello:PaymentReceivedForManagementAndEntrepreneurshipServices" scale="6" unitRef="ils" id="ixv-65131">49.4</ix:nonFraction> million (approximately &#8364;<ix:nonFraction contextRef="c107" decimals="-5" format="ixt:num-dot-decimal" name="ello:PaymentReceivedForManagementAndEntrepreneurshipServices" scale="6" unitRef="eur" id="ixv-65132">11.9</ix:nonFraction> million) in consideration
for management and entrepreneurship services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

</div><!-- Field: Page; Sequence: 30; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 6 - Investee Companies and other investments
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Equity accounted investees (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white"><b>Ellomay Luzon Energy Infrastructures
Ltd. (&#8220;Ellomay Luzon Energy&#8221;) (cont&#8217;d)&#8211; </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><i>Petition to
Approve a Derivative Claim filed by Edelcom (cont&#8217;d)</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_4" id="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Pursuant to this agreement, the
Luzon Group undertook to continue holding, directly or indirectly, at least <ix:nonFraction contextRef="c111" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfShareCapitalHolds" scale="-2" unitRef="pure" id="ixv-65133">10</ix:nonFraction>% of Dorad&#8217;s share capital for a period of 12
months from the date the Dorad Power Plant is handed over to Dorad by the construction contractor. The Edelcom Petition claims that
as a consequence of the management rights and the options to acquire additional shares of Ellomay Luzon Energy&#160;granted to the
Company&#160;pursuant to the Investment&#160;Agreement, the holdings of the Luzon Group in Dorad have fallen below <ix:nonFraction contextRef="c92" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageDecreaseFromDoradHolding" scale="-2" unitRef="pure" id="ixv-65134">10</ix:nonFraction>% upon
execution of the Luzon Investment Agreement. The Edelcom Petition therefore claims that Luzon Group breached its commitment
according to entrepreneurship agreement and requests that a derivative action be approved to recover an amount of NIS <ix:nonFraction contextRef="c107" decimals="-5" format="ixt:num-dot-decimal" name="ello:RecoveryOfAmountCommitted" scale="6" unitRef="ils" id="ixv-65135">49.4</ix:nonFraction> million,
plus linkage and interest from the defendants.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As noted above, on December 27, 2016,
this proceeding, along with the proceeding mentioned above and below, was moved to arbitration.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>Arbitration Award</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On June 28, 2023, an arbitration award
was issued in connection with the arbitration proceeding as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.25in"><span>&#9679;</span></td><td style="text-align: justify"><i>Petition to Approve a Derivative Claim filed by Ellomay Luzon Energy and Hemi Raphael</i> - The arbitration
award accepts the majority of the claims made by the Plaintiffs and the arbitrator ruled that the defendants, severally and jointly, are
required to: (i) pay Dorad an amount of $<ix:nonFraction contextRef="c112" decimals="-6" format="ixt:num-dot-decimal" name="ello:RefundAmountInClaim" scale="6" unitRef="usd" id="ixv-65136">100</ix:nonFraction> million, bearing interest pursuant to applicable law from January 1, 2013 until the payment
date, (ii) bear the expenses of the plaintiffs, including Ellomay Luzon Energy, in an aggregate amount of NIS 20 million, plus VAT, and
(iii) bear <ix:nonFraction contextRef="c112" decimals="2" format="ixt:num-dot-decimal" name="ello:ExpensesPercentage" scale="-2" unitRef="pure" id="ixv-65137">80</ix:nonFraction>% of the expenses of Dorad in the proceeding (while the Plaintiffs will bear the remaining <ix:nonFraction contextRef="c113" decimals="2" format="ixt:num-dot-decimal" name="ello:ExpensesPercentage" scale="-2" unitRef="pure" id="ixv-65138">20</ix:nonFraction>%).</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.25in"><span>&#9679;</span></td><td style="text-align: justify"><i>Third-Party Notices and Counterclaims submitted by Zorlu and Edelcom</i> - The arbitration award provides
that due to the ruling accepting the derivative petition as detailed above, the third-party notices and counterclaim are rejected.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.25in"><span>&#9679;</span></td><td style="text-align: justify"><i>Petition to Approve a Derivative Claim filed by Edelcom</i> - The arbitration award provides, inter
alia, that the entrepreneurship agreement was not breached and therefore there is no basis for approving a derivative claim.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In November 2023, appeals were submitted
by the plaintiffs and the defendants against the arbitration award. In their appeal, the defendants claimed, inter alia, that the arbitrator
was mistaken in his arbitration award decisions and requested alternative rulings either accepting the appeal and cancelling the entire
financial payment decision included in the arbitration award or a partial cancellation of the financial payment decision included in the
arbitration award and a relative decrease of the interest and expenses obligation imposed on the defendants. In their appeal, the plaintiffs
appealed the financial payment decision and claimed that the amount ruled should have been higher and also appealed the interest rate
determined with respect to the financial payment and the scope of expenses reimbursement. The parties filed responses to the appeals in
February 2024 and the last date for submission of answers to the responses was scheduled for May 2024. A preliminary hearing is scheduled
for May 30, 2024.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">

</p></ix:continuation><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 31; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 6 - Investee Companies and other investments
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Equity accounted investees (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white"><b>Ellomay Luzon Energy Infrastructures
Ltd. (&#8220;Ellomay Luzon Energy&#8221;) (cont&#8217;d)&#8211; </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in"><i>Arbitration Award
(cont&#8217;d)</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><ix:continuation continuedAt="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_5" id="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As of the date hereof, based on the advice
of legal counsel of Ellomay Luzon Energy, it is too early to estimate the outcome of the appeals. As Edelcom did not appeal the arbitrator&#8217;s
decision with respect to the petition to approve a derivative claim filed by Edelcom in connection with the entrepreneurship fees, the
arbitration award remains unchanged with respect to this petition and claim.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in"><i>Potential Expansion
of the Dorad Power Plant (&#8220;Dorad 2&#8221;)</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Dorad is examining the possibility of
constructing an additional power plant within the area of the existing Dorad Power Plant, that will become part of the existing plant.
On July 13, 2020, Dorad submitted to the National Infrastructure Committee, or NIC, plans for public objections, on January 11, 2021,
the NIC decided to postpone the final decision and on December 27, 2021, the NIC decided to raise the construction of another power plant
to a government decision. The NIC&#8217;s decision includes conditions to the issuance of the building permit. On May 28, 2023, the Israeli
Government approved the national infrastructures plan (NIP 11/b) which governs, among other issues, the expansion of the power plant owned
by Doard by approximately 650 MW.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On January 16, 2024, Dorad received a
letter from Edelcom stating that Edelcom, as a shareholder of Dorad, objects to the proposal to expand the power plant. On February 19,
2024, Dorad received a planning survey to receive the expansion of the power plant from the System Manager, which allows electricity to
be taken out commencing October 2028.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In March 2024, Dorad filed a petition
with the Israeli Supreme Court asking for the issuance of a building permit for the construction of the &#8220;Dorad 2&#8221; power plant.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The expansion of the Dorad Power Plant
by building the Dorad 2 facility in a combined cycle technology, will result in an aggregate capacity of the Dorad Power Plant of approximately
1,500 MW and the approved plan also enables adding batteries with a capacity of approximately 80 MW. The Company expects that if the Dorad
2 plan will materialize and the expansion will be completed, the expansion of the power plant will increase the revenues and income of
Dorad. The expansion has not yet been approved and is subject to various conditions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in"><i>Impact of War in
Israel</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On October 7, 2023, following a surprise
attack by the terrorist organization Hamas against the State of Israel and its citizens, the Israeli government declared a war (the &#8220;Iron
Swords War&#8221;), which continues as of the date of this report, and which has also expanded into a security conflict in the northern
region. During the days of fighting, thousands of rockets were launched towards the State of Israel, and shrapnel fell several times in
the territory of the power plant, which caused immaterial damage to property and equipment but did not impact the regular operation of
the power plant. Dorad estimates at this stage, that the current events and the security escalation in Israel have an impact on its results
but that the impact on its short-term business results will be immaterial. Since this is an event that is not under the control of Dorad
and matters such as the fighting continuing or stopping may affect the Dorad&#8217;s assessments, as at the reporting date Dorad is unable
to assess the extent of the effect of the Iron Swords War on its business activities and on its medium and long-term results.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">

</p></ix:continuation><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 6 - Investee Companies and other investments
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Equity accounted investees (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white"><b>Ellomay Luzon Energy Infrastructures
Ltd. (&#8220;Ellomay Luzon Energy&#8221;) (cont&#8217;d)&#8211; </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_6" id="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_5"><p style="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><b>Composition
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -0.5in"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -0.5in"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -0.5in">&#160;</p>

<p style="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left"><b>Changes in investments</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&#160;</p>

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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></p><div>

</div><!-- Field: Page; Sequence: 33; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&#160;</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 6 - Investee Companies and other investments
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Equity accounted investees (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -28.35pt; background-color: white">&#160;</p>

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<td style="width: 0.5in"/><td style="width: 0.5in">(a)</td><td style="text-align: justify">Summary information on financial position</td></tr></table>


<p style="margin: 0">&#160;</p>

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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt; padding-left: 1.6pt">Ellomay Luzon Energy</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right"><ix:nonFraction contextRef="c148" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" scale="-2" unitRef="pure" id="ixv-65188">50</ix:nonFraction></td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
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    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">(<ix:nonFraction contextRef="c148" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" scale="3" sign="-" unitRef="eur" id="ixv-65190">31</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#160;</td>
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    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right"><ix:nonFraction contextRef="c148" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" scale="3" unitRef="eur" id="ixv-65193">1,206</ix:nonFraction></td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43.65pt; text-align: justify; text-indent: -43.65pt">&#160;</p></ix:nonNumeric></ix:continuation><div>




</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43.65pt; text-align: justify; text-indent: -43.65pt"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43.65pt; text-align: justify; text-indent: -43.65pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43.65pt; text-align: justify; text-indent: -43.65pt"><b>Note 6 -
Investee Companies and other investments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white"><b>&#160;</b>&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_8" id="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_7"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>B.</b></td><td style="text-align: justify"><b>Pumped Storage Projects </b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><b>Pumped-storage
project in the Manara Cliff in Israel (&#8220;Manara PSP&#8221;) -</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Ellomay Pumped Storage (2014) Ltd. (&#8220;Ellomay
PS&#8221;), in which the Company directly and indirectly owns <ix:nonFraction contextRef="c114" decimals="5" format="ixt:num-dot-decimal" name="ello:PercentageOfAcquireCooperativesHoldings" scale="-2" unitRef="pure" id="ixv-65194">83.333</ix:nonFraction>% (with the remaining <ix:nonFraction contextRef="c115" decimals="5" format="ixt:num-dot-decimal" name="ello:PercentageOfAcquireCooperativesHoldings" scale="-2" unitRef="pure" id="ixv-65195">16.667</ix:nonFraction>% held by Ampa Ltd. (&#8220;Ampa&#8221;)),
received a conditional license for the Manara PSP from the Israeli Minister of Energy and Infrastructures (the &#8220;Minister&#8221;)
for the construction of a pumped storage plant in the Manara Cliff with a capacity of 156 MW (the &#8220;Conditional License&#8221;).
The Conditional License permits Ellomay PS to construct the Manara PSP and includes several conditions precedent to the entitlement of
Ellomay PS to receive an electricity production license.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company and its affiliates did not
pay any consideration upon the acquisition of the rights in the Manara PSP and undertook to pay certain consideration upon the fulfillment
of certain conditions and milestones. As of December 31, 2023, the Company paid an amount of approximately NIS <ix:nonFraction contextRef="c116" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountOfAcquisition" scale="3" unitRef="ils" id="ixv-65196">24,000</ix:nonFraction> thousand (approximately
&#8364;<ix:nonFraction contextRef="c116" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountOfAcquisition" scale="3" unitRef="eur" id="ixv-65197">6,000</ix:nonFraction> thousand) on account of the consideration upon the acquisition and may be required, if certain conditions and milestones are
met (which conditions and milestones have not currently been met), to pay certain parties additional amounts (including interest), which
in the aggregate are not expected to exceed an amount of approximately NIS <ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:RemainingAmountOfAcquisition" scale="3" unitRef="ils" id="ixv-65198">6,400</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:RemainingAmountOfAcquisition" scale="3" unitRef="eur" id="ixv-65199">1,600</ix:nonFraction> thousand).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In February 2023, the trustees of the
entity that sold the rights in the Manara PSP to the Company filed a petition with the Israeli court requesting the following: (1) payment
of NIS <ix:nonFraction contextRef="c117" decimals="-3" format="ixt:num-dot-decimal" name="ello:ClaimsAmountPayment" scale="3" unitRef="ils" id="ixv-65200">1,500</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c117" decimals="-3" format="ixt:num-dot-decimal" name="ello:ClaimsAmountPayment" scale="3" unitRef="eur" id="ixv-65201">374</ix:nonFraction> thousand) in connection with a claimed debt of a third party, and (2) payment of linkage
and interest differences in an amount of approximately NIS <ix:nonFraction contextRef="c117" decimals="-3" format="ixt:num-dot-decimal" name="ello:ClaimsInterestPaymentAmount" scale="3" unitRef="ils" id="ixv-65202">672</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c117" decimals="-3" format="ixt:num-dot-decimal" name="ello:ClaimsInterestPaymentAmount" scale="3" unitRef="eur" id="ixv-65203">168</ix:nonFraction> thousand) with respect to an amount that
was already paid to the seller and to Electra, claiming that the payment was delayed due to disagreements between the seller and Electra
and missing approvals. Based on the parties&#8217; agreement, a mediation process is ongoing. In light of the preliminary stage of the
proceedings and based on the advice of the Company&#8217;s legal counsel, it is too early to estimate the outcome of the mediation process
and the legal proceedings.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Conditional License was originally
valid for a period of seventy-two (72) months commencing from the date of its approval by the Minister, subject to compliance by Ellomay
PS with the milestones set forth therein and subject to the other provisions set forth therein (including financial closing, provision
of guarantees and construction of the pumped storage hydro power plant). According to applicable law, the 72 months validity period may
be extended for additional periods of 12 months each if required and subject to the Minister&#8217;s approval at such time. Such extensions
may result in forfeiture of the license guarantee which value currently amounts to approximately NIS <ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountForfeitureOfLicenseGuarantee" scale="3" unitRef="ils" id="ixv-65204">4,100</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountForfeitureOfLicenseGuarantee" scale="3" unitRef="eur" id="ixv-65205">1,000</ix:nonFraction>
thousand). The guarantee amount is linked to the USD and is reduced over time upon fulfillment of certain interim project milestones.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On December 31, 2020, Ellomay PS received
the conditional tariff approval for the project from the Israeli Electricity Authority that regulates the tariffs and formulas for purchasing
energy from a pumped storage manufacturer connected to the transmission network for a period of <ix:nonNumeric contextRef="c118" format="ixt-sec:duryear" name="ello:TransmissionNetworkPeriod" id="ixv-65206">20</ix:nonNumeric> years beginning on the date of receipt
of the permanent production license. The conditional tariff became effective following financial closing in February 2021.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p></ix:continuation><div>

</div><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 6 - Investee Companies and other investments
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>B.</b></td><td style="text-align: justify"><b>Pumped Storage Projects (cont&#8217;d) </b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>Pumped-storage project
in the Manara Cliff in Israel (&#8220;Manara PSP&#8221;) (cont'd) -</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_9" id="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><i>Manara PSP Project Finance</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">On February 11,
2021, the Manara PSP Project Finance reached financial closing. The Manara PSP Project Finance is provided by a consortium of Israeli
banks and institutional investors, arranged and led by Mizrahi-Tefahot Bank Ltd. As of the date of the financial closing, the Manara PSP
Project Finance was in the aggregate amount of approximately NIS <ix:nonFraction contextRef="c119" decimals="-7" format="ixt:num-dot-decimal" name="ello:AmountFinancialAgreementGuaranteesByDirectShare" scale="9" unitRef="ils" id="ixv-65207">1.27</ix:nonFraction> billion (approximately &#8364;<ix:nonFraction contextRef="c119" decimals="-6" format="ixt:num-dot-decimal" name="ello:AmountFinancialAgreementGuaranteesByDirectShare" scale="9" unitRef="eur" id="ixv-65208">0.317</ix:nonFraction> billion). This aggregate amount
is linked to a synthetic composite index comprising a weighted average of the indices and currencies applicable to the Manara PSP&#8217;s
construction costs (the &#8220;Project Index&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">As of December
31, 2023, the Manara PSP Project Finance (including reevaluation linkage to the Project Index) amounts to approximately NIS <ix:nonFraction contextRef="c118" decimals="-8" format="ixt:num-dot-decimal" name="ifrs-full:FinanceCosts" scale="9" unitRef="ils" id="ixv-65209">1.4</ix:nonFraction> billion
(approximately &#8364;<ix:nonFraction contextRef="c118" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:FinanceCosts" scale="9" unitRef="eur" id="ixv-65210">0.349</ix:nonFraction> billion).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">The owners of
Ellomay PS undertook to provide, and provided, aggregate equity and shareholder&#8217;s loans financing to the project of NIS <ix:nonFraction contextRef="c2" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="6" unitRef="ils" id="ixv-65211">353</ix:nonFraction> million
(approximately &#8364;<ix:nonFraction contextRef="c120" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="6" unitRef="eur" id="ixv-65212">94.1</ix:nonFraction> million), pro rata to their holdings in the Manara PSP, linked to the Project Index. Due to this indexation,
additional shareholders&#8217; loans were provided by the shareholders pro rata to their respective holdings in Manara PSP. In March 2022
and March 2023, such additional amounts were approximately NIS <ix:nonFraction contextRef="c121" decimals="-5" format="ixt:num-dot-decimal" name="ello:AmountOfShareholdersFinancingCommitments" scale="6" unitRef="ils" id="ixv-65213">11.5</ix:nonFraction> million (approximately &#8364;<ix:nonFraction contextRef="c121" decimals="-5" format="ixt:num-dot-decimal" name="ello:AmountOfShareholdersFinancingCommitments" scale="6" unitRef="eur" id="ixv-65214">3.2</ix:nonFraction> million) and approximately NIS <ix:nonFraction contextRef="c122" decimals="-5" format="ixt:num-dot-decimal" name="ello:AmountOfShareholdersFinancingCommitments" scale="6" unitRef="ils" id="ixv-65215">17.5</ix:nonFraction>
million (approximately &#8364;<ix:nonFraction contextRef="c122" decimals="-5" format="ixt:num-dot-decimal" name="ello:AmountOfShareholdersFinancingCommitments" scale="6" unitRef="eur" id="ixv-65216">4.7</ix:nonFraction> million), respectively. An additional amount of approximately NIS <ix:nonFraction contextRef="c123" decimals="-6" format="ixt:num-dot-decimal" name="ello:AmountOfShareholdersFinancingCommitments" scale="6" unitRef="ils" id="ixv-65217">10</ix:nonFraction> million (approximately &#8364;<ix:nonFraction contextRef="c123" decimals="-5" format="ixt:num-dot-decimal" name="ello:AmountOfShareholdersFinancingCommitments" scale="6" unitRef="eur" id="ixv-65218">2.5</ix:nonFraction>
million) was provided following the balance sheet date, on March 2024.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">As of December
31, 2023, the financing provided by the owners of Manara PSP (not including the aforementioned indexation payment in March 2024) amounted
to approximately NIS <ix:nonFraction contextRef="c120" decimals="-3" format="ixt:num-dot-decimal" name="ello:FinanceProvidedByOwners" scale="3" unitRef="ils" id="ixv-65219">382,000</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c120" decimals="-3" format="ixt:num-dot-decimal" name="ello:FinanceProvidedByOwners" scale="3" unitRef="eur" id="ixv-65220">95,000</ix:nonFraction> thousand).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Ellomay and Ampa
Investments Ltd. (&#8220;Ampa&#8221;), which indirectly owns <ix:nonFraction contextRef="c115" decimals="5" format="ixt:num-dot-decimal" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" unitRef="pure" id="ixv-65221">16.667</ix:nonFraction>% of Ellomay PS, provided certain sponsor support undertakings towards
the lenders commensurate with the size and complexity of the project and the length of the construction period, including a standby equity
guarantee in the aggregate amount of approximately NIS <ix:nonFraction contextRef="c124" decimals="-3" format="ixt:num-dot-decimal" name="ello:StandbyEquityGuarantee" scale="3" unitRef="ils" id="ixv-65222">12,500</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c124" decimals="-3" format="ixt:num-dot-decimal" name="ello:StandbyEquityGuarantee" scale="3" unitRef="eur" id="ixv-65223">3,331</ix:nonFraction> thousand), pro rata to their holdings
in the Manara PSP.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">This standby
equity guarantee is linked to the Israeli CPI and adjusted to the Project Index. As of December 31, 2023, the standby equity guarantee,
including linkage, amounts to NIS <ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ello:StandbyEquityGuarantee" scale="3" unitRef="ils" id="ixv-65224">13,475</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ello:StandbyEquityGuarantee" scale="3" unitRef="eur" id="ixv-65225">3,400</ix:nonFraction> thousand). Ellomay and Ampa also provided corporate guarantees
in an amount similar to the amount of the standby equity guarantee.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">In August 2021,
the Israeli Electricity Authority issued a clarification letter relating to the method of calculation of certain dynamic benefits applicable
to all pumped storage projects in Israel. The owners of the Manara PSP currently estimate that if the updates to the method of calculation
will be implemented, the new calculation may reduce the cover ratios of the Manara PSP during the commercial operation period by up to
5 basis points. In order to mitigate such potential future effect, the owners
of the Manara PSP agreed to provide the lenders with certain undertakings to inject additional equity to the Manara PSP in certain scenarios,
subject to a cap which is currently estimated by the owners of the Manara PSP to be approximately NIS <ix:nonFraction contextRef="c125" decimals="-3" format="ixt:num-dot-decimal" name="ello:EstimatedAdditionalEquity" scale="3" unitRef="ils" id="ixv-65226">46,000</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c125" decimals="-3" format="ixt:num-dot-decimal" name="ello:EstimatedAdditionalEquity" scale="3" unitRef="eur" id="ixv-65227">11,500</ix:nonFraction>
thousand).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><b>&#160;&#160;</b></p></ix:continuation><div>

</div><div>

</div><!-- Field: Page; Sequence: 36; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><b>Note 6 - Investee
Companies and other investments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>B.</b></td><td style="text-align: justify"><b>Pumped Storage Projects (cont&#8217;d) </b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><b>Pumped-storage project
in the Manara Cliff in Israel (&#8220;Manara PSP&#8221;) (cont'd) -</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_10" id="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><i>Manara PSP EPC
Agreement</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">In February 2021,
Ellomay PS executed the EPC agreement for the construction of the Manara PSP (the &#8220;Manara PSP EPC Agreement&#8221;), under a &#8220;turnkey&#8221;
contract with Electra Infrastructure Ltd. (&#8220;Electra Infrastructure&#8221;), one of Israel&#8217;s largest construction companies.
The aggregate consideration payable to Electra Infrastructure under the Manara PSP EPC Agreement is expected to be approximately NIS <ix:nonFraction contextRef="c126" decimals="-7" format="ixt:num-dot-decimal" name="ello:AggregateGrossConsideration" scale="9" unitRef="ils" id="ixv-65228">1.13</ix:nonFraction>
billion excluding indexation (approximately &#8364;<ix:nonFraction contextRef="c126" decimals="-6" format="ixt:num-dot-decimal" name="ello:AggregateGrossConsideration" scale="6" unitRef="eur" id="ixv-65229">280</ix:nonFraction> million). The majority of this amount is linked to the actual change in the Israel
Residential Construction Index (&#8220;IRC&#8221;). A small portion of the price is denominated in Euros. Under the Manara PSP EPC Agreement,
Voith Hydro, the world&#8217;s leading manufacturer of hydroelectric turbines, was nominated as the main subcontractor that will provide
the electro-mechanical equipment to the Manara PSP.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><i>Manara PSP O&amp;M Agreement</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Simultaneously
with the execution of the Manara PSP EPC Agreement, Ellomay PS also executed an O&amp;M agreement (the &#8220;Manara PSP O&amp;M Agreement&#8221;),
with Mekorot Israel National Water Co. (&#8220;Mekorot&#8221;), the Israeli national water company (which is fully owned by the Israeli
Government), Voith Hydro and Verbund Hydro, one of the largest hydroelectric companies in Europe with extensive expertise in the operation
of hydroelectric power plants (collectively, the &#8220;Manara PSP O&amp;M Contractors&#8221;). The Manara PSP O&amp;M Agreement provides
that the Manara PSP O&amp;M Contractors will be involved in the construction process through a mobilization period of 48 months and that
O&amp;M services will be provided for a twenty-year period, during which Mekorot, Voith Hydro and Verbund will provide O&amp;M services
for the initial three years of commercial operation, and Mekorot providing O&amp;M services exclusively for the remaining 17 year period.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Notice to commence
the construction works was issued to Electra Infrastructure in April 2021. The Construction period of the Manara PSP was originally expected
to be <ix:nonNumeric contextRef="c127" format="ixt-sec:durmonth" name="ello:ConstructionPeriod" id="ixv-65230">62.5</ix:nonNumeric> months.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><i>Impact of War in Israel</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Due to the Iron
Swords War, which has also expanded into a security conflict in the northern region, operations construction works at the Manara site
were halted. The planning works, the construction of the equipment off site, including the electro-mechanical equipment and the arrival
of the equipment in Israel continue as usual. The Electricity Authority granted a ten-month extension to the regulatory milestones and
the duration of the general license. As part of the standards supporting financing, there is protection for the senior debt (principal
and interest) and the developer&#8217;s expenses, subject to the approval of the Electricity Authority on the subject. At this stage the company
cannot quantify the impact on the timing of the construction of the project. The Company cannot predict at this stage the duration and
scope of the Iron Swords War or its effect on the Company.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">

</p></ix:continuation><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;&#160;</p><div>

</div><!-- Field: Page; Sequence: 37; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><b>Note 6 - Investee
Companies and other investments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_11" id="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_10"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>C.</b></td><td style="text-align: justify"><b>Development of PV Projects in Italy </b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><b>Framework
Agreement</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">In December 2019,
Ellomay Luxembourg executed a Framework Agreement (the &#8220;Framework Agreement&#8221;), with an established and experienced European
developer. Pursuant to the Framework Agreement, the developer will provide Ellomay Luxembourg with development services with respect to
photovoltaic greenfield projects in Italy in the scope of 350 MW with the aim of reaching an aggregate Ready to Build (&#8220;RtB&#8221;)
authorized capacity of at least 265 MW over a forty-one month period. The Framework Agreement provides that the developer will offer all
projects identified during the term of the Framework Agreement exclusively to Ellomay Luxembourg and that, with respect to each project
acquired by Ellomay Luxembourg, the developer will be entitled to provide development services until it reaches the RtB status.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">The parties agreed
on a development budget including a monthly development service consideration, to be paid to the developer and all other payments for
the tasks required to bring the projects to a RtB. In addition, Ellomay Luxembourg undertook to pay a success fee to the developer with
respect to each project that achieves a RtB status.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Currently development
is progressing as planned. In April 2021, the Framework Agreement was amended and the target of reaching an aggregate RtB authorized capacity
of at least 265 MW was increased to 365 MW.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">In May 2023,
a notice to proceed was issued to the EPC contractor with respect to the first two projects, <span style="background-color: white">Ellomay
Solar Italy One SRL (14.8 MW) and Ellomay Solar Italy Two SRL (4.95 MW), located in the </span>Lazio Region<span style="background-color: white">,
Italy. The PV Plant owned by Ellomay Solar Italy Two SRL was connected to the grid in February 2024 and the PV Plant owned by Ellomay
Solar Italy One is expected to be connected to the grid during the second quarter of 2024. Several other projects, held by the Company&#8217;s
wholly-owned subsidiaries, Ellomay Solar Italy Four SRL (15.06 MW), Ellomay Solar Italy Five SRL (87.2 MW), Ellomay Solar Italy Seven
SRL (54.77 MW), Ellomay Solar Italy Nine SRL (8 MW ) and Ellomay Solar Italy Ten SRL (18 MW), which are developing PV plants in the Lazio
Region, Italy, have reached RtB status.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">The Company capitalizes
expenses in connection with such projects once RtB status is reached.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">In November 2019,
Ellomay Luxembourg executed a Framework Agreement with a developer with the aim of reaching an aggregate authorized capacity of at least
250 MW over a three-year period. In connection with the execution of this agreement, during 2020 Ellomay Luxembourg paid the developer
advance payments in the aggregate amount of approximately &#8364;<ix:nonFraction contextRef="c128" decimals="-3" format="ixt:num-dot-decimal" name="ello:AdvancePayment" scale="3" unitRef="eur" id="ixv-65231">1,554</ix:nonFraction> thousand. As the target aggregate capacity was not achieved, in
August 2023 the advance payment including interest in the aggregate amount of &#8364;<ix:nonFraction contextRef="c129" decimals="-3" format="ixt:num-dot-decimal" name="ello:AdvancePayment" scale="3" unitRef="eur" id="ixv-65232">1,921</ix:nonFraction> thousand was refunded.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>Composition of
Advances on account of investments</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p>

<ix:nonNumeric contextRef="c0" escape="true" name="ello:DisclosureOfDetailedInformationAboutCompositionOfAdvancesOnAccountOfInvestmentsExplanatory" id="ixv-27144"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="padding-left: 0.125in; text-indent: -0.125in; width: 76%; text-align: left; padding-bottom: 4pt">On account of development of PV projects in Italy</td><td style="width: 1%; font-weight: bold; padding-bottom: 4pt">&#160;</td>
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</div><div>

</div><!-- Field: Page; Sequence: 38; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 6 - Investee Companies and other investments
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_12" id="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_11"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>D.</b></td><td style="text-align: justify"><b>Subsidiaries -</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in">1.</td><td style="text-align: justify"><b>Biogas Plants in the Netherlands</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white">The Company owns three Waste-to-Energy
(specifically Gasification and Bio-Gas (anaerobic digestion)) projects in the Netherlands.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><span style="text-decoration:underline">Groen Goor
Anaerobic Digestion Project- </span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Groen Gas Goor
B.V. (&#8220;Groen Goor&#8221;), a project company operating an anaerobic digestion plant, with a green gas production capacity of approximately
375 Nm3/h, in Goor, the Netherlands (the &#8220;Groen Goor Plant&#8221;). The Groen Goor Plant commenced operations in November 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><span style="text-decoration:underline">Groen Gas
Oude-Tonge Anaerobic Digestion Project-</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Groen Gas Oude-Tonge
B.V. (&#8220;Groen Gas Oude-Tonge&#8221;) a project company operating an anaerobic digestion plant, with a green gas production capacity
of approximately 475 Nm3/h, in Oude-Tonge, the Netherlands (the &#8220;Oude-Tonge Plant&#8221;). The Oude-Tonge Plant commenced operations
in June 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><span style="text-decoration:underline">Groen Gas
Gelderland Anaerobic Digestion Project -</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">On December 1,
2020, the Company, through its wholly-owned subsidiary, Ellomay Luxembourg, acquired all issued and outstanding shares of Groen Gas Gelderland
B.V. (&#8220;. (&#8220;GG Gelderland&#8221;) a project company operating an anaerobic digestion plant, with a green gas production capacity
of approximately <ix:nonFraction contextRef="c130" decimals="-5" format="ixt:num-dot-decimal" name="ello:GreenGasProductionCapacityLevel" scale="6" unitRef="pure" id="ixv-65235">7.5</ix:nonFraction> million Nm3 per year, in Gelderland, the Netherlands The actual production capacity of the plant is approximately
<ix:nonFraction contextRef="c3" decimals="-5" format="ixt:num-dot-decimal" name="ello:GreenGasProductionCapacityLevel" scale="6" unitRef="pure" id="ixv-65236">9.5</ix:nonFraction> million Nm3 per year.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><span style="text-decoration:underline">Assessment
of recoverable amount</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">During 2023, the Company assessed the
recoverable amount of its Biogas plants in the Netherlands in light of operating losses suffered by these projects in recent years and
lower results than forecasted for 2023. The examination was conducted based on the net consideration (net of expected estimated indemnification)
included in a binding offer received for the sale of the Biogas plants. The examination concluded that the fair value (net of transaction
costs) of each of the plants is higher than the carrying value of such plant and therefore there is no need for an impairment provision.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;&#160;</p></ix:continuation><div>

</div><div>

</div><!-- Field: Page; Sequence: 39; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 6 - Investee Companies and other investments
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>D.</b></td><td style="text-align: justify"><b>Subsidiaries - (cont&#8217;d)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p><div>

</div><ix:continuation continuedAt="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_13" id="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_12"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>2.</b></td><td style="text-align: justify"><b>PV Projects in Spain</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>The Talasol PV Plant </b>&#8211;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company indirectly owns <ix:nonFraction contextRef="c131" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfShareCapitalHolds" scale="-2" unitRef="pure" id="ixv-65237">51</ix:nonFraction>% of the
share capital of Talasol Solar S.L.U (&#8220;Talasol&#8221;), which owns a photovoltaic plant with a peak capacity of 300 MW in the municipality
of Talav&#225;n, C&#225;ceres, Spain. The purchase price originally paid by the Company during 2017 for <ix:nonFraction contextRef="c132" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfShareCapitalHolds" scale="-2" unitRef="pure" id="ixv-65238">100</ix:nonFraction>% of Talasol&#8217;s shares
was &#8364;<ix:nonFraction contextRef="c133" decimals="-6" format="ixt:num-dot-decimal" name="ello:SharesValue" scale="6" unitRef="eur" id="ixv-65239">10</ix:nonFraction> million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The construction cost of the Talasol PV
Plant based on the engineering, procurement &amp; construction agreement entered into by Talsol and METKA EGN Limited (&#8220;METKA&#160;EGN&#8221;)
was &#8364;<ix:nonFraction contextRef="c134" decimals="-5" format="ixt:num-dot-decimal" name="ello:ConstructionAgreementAmount" scale="6" unitRef="eur" id="ixv-65240">192.5</ix:nonFraction> million. The works under this agreement includes also a 400 kV step-up substation, the high voltage interconnection line
to the point of connection to the grid and performance of two years of O&amp;M services.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In June 2018, Talasol executed a financial
power swap in respect of approximately <ix:nonFraction contextRef="c135" decimals="2" format="ixt:num-dot-decimal" name="ello:OutputPercentageOfFinancialPowerSwap" scale="-2" unitRef="pure" id="ixv-65241">80</ix:nonFraction>% of the output of the Talasol PV Plant for a period of <ix:nonNumeric contextRef="c135" format="ixt-sec:duryear" name="ello:PeriodOfFinancialPowerSwap" id="ixv-65242">10</ix:nonNumeric> years (the &#8220;Talasol PPA&#8221;)
whose accounting treatment is according to cash flow hedge.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The power produced by the Talasol PV Plant
is sold by Talasol in the open market for the current market power price and the Talasol PPA is expected to hedge the risks associated
with fluctuating electricity market prices by allowing Talasol to secure a certain level of income for the power production included under
the Talasol PPA. The Talasol PPA became effective in March 2019.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On April 17, 2019, the Company, through
its wholly owned subsidiary Ellomay Luxembourg, executed a Credit Facilities Assignment and Sale and Purchase of Shares Agreement (the
&#8220;Talasol SPA&#8221;), with GSE 3 UK Limited and Fond-ICO Infraestructuras II, FICC (together, the &#8220;Talasol Partners&#8221;),
pursuant to which it agreed to sell to each of the Talasol Partners <ix:nonFraction contextRef="c136" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" unitRef="pure" id="ixv-65243">24.5</ix:nonFraction>% of its holdings in Talasol. The transactions contemplated under
the Talasol SPA were consummated in April 2019. The aggregate purchase price paid by the Talasol Partners, in the amount of approximately
&#8364;<ix:nonFraction contextRef="c137" decimals="-5" format="ixt:num-dot-decimal" name="ello:ProjectFinancingAggregateAmount" scale="6" unitRef="eur" id="ixv-65244">16.1</ix:nonFraction> million, represented <ix:nonFraction contextRef="c138" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" unitRef="pure" id="ixv-65245">49</ix:nonFraction>% of the amounts withdrawn and interests accrued from and by Talasol PV Plant&#8217;s financing as of
the closing date of the Talasol SPA (approximately &#8364;<ix:nonFraction contextRef="c138" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:EquityInterestsOfAcquirer" scale="6" unitRef="eur" id="ixv-65246">4.9</ix:nonFraction> million), plus a payment for <ix:nonFraction contextRef="c139" decimals="2" format="ixt:num-dot-decimal" name="ello:PaymentPercentage" scale="-2" unitRef="pure" id="ixv-65247">49</ix:nonFraction>% of Talasol&#8217;s shares (approximately
&#8364;<ix:nonFraction contextRef="c139" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:EquityInterestsOfAcquirer" scale="6" unitRef="eur" id="ixv-65248">4.9</ix:nonFraction> million) plus a premium of approximately &#8364;<ix:nonFraction contextRef="c138" decimals="-5" format="ixt:num-dot-decimal" name="ello:RecognizedAmountInEquity" scale="6" unitRef="eur" id="ixv-65249">6.1</ix:nonFraction> million. Of such aggregate purchase price, the payment of &#8364;<ix:nonFraction contextRef="c138" decimals="-5" format="ixt:num-dot-decimal" name="ello:DeferredAggregatePurchasePrice" scale="6" unitRef="eur" id="ixv-65250">1.4</ix:nonFraction> million
was deferred until the achievement of a preliminary acceptance certificate (PAC) under the EPC agreement of the Talasol PV Plant. Following
the achievement of PAC on January 27, 2021, the deferred payment amount of &#8364;<ix:nonFraction contextRef="c140" decimals="-5" format="ixt:num-dot-decimal" name="ello:DeferredPaymentReceived" scale="6" unitRef="eur" id="ixv-65251">1.4</ix:nonFraction> million was received by Ellomay Luxembourg.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As the Company directs the operations
of Talasol and the rights granted to the Talasol Partners are minority protective rights, these changes in the Company&#8217;s ownership
interest in Talasol did not result in loss of control and were accounted for as equity transactions. The Company therefore recognized
in equity an amount of approximately &#8364;<ix:nonFraction contextRef="c141" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:Equity" scale="6" unitRef="eur" id="ixv-65252">6.1</ix:nonFraction> million, less associated expenses in the amount of approximately &#8364;<ix:nonFraction contextRef="c141" decimals="-5" format="ixt:num-dot-decimal" name="ello:AssociatedExpensesInEquity" scale="6" unitRef="eur" id="ixv-65253">0.7</ix:nonFraction> million on the
date of the Talasol SPA.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;&#160;</b></p></ix:continuation><div>

</div><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 6 - Investee Companies and other investments
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>D.</b></td><td style="text-align: justify"><b>Subsidiaries - (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in">2.</td><td style="text-align: justify"><b>PV Projects in Spain (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; background-color: white; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; background-color: white; text-indent: 0.25in"><b>The Talasol
PV Plant (cont&#8217;d)</b> &#8211;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; background-color: white; text-indent: 0.25in">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_14" id="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_13"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Talasol PV Plant reached mechanical
completion in September 2020 and was connected to the electricity grid and electricity production commenced at the end of December 2020.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In December 2021, Talasol entered into
a New Facilities Agreement in the aggregate amount of &#8364;<ix:nonFraction contextRef="c142" decimals="-6" format="ixt:num-dot-decimal" name="ello:ProjectFinancingAggregateAmount" scale="6" unitRef="eur" id="ixv-65254">175</ix:nonFraction> million with European institutional lenders (the &#8220;Talasol New Facilities
Agreement&#8221;). Financial closing of the Talasol New Facilities Agreement was achieved in January 2022 (see Note 11).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The uses of the Talasol New Financing
amount were as follows: (1) prepayment of the outstanding &#8364;<ix:nonFraction contextRef="c143" decimals="-6" format="ixt:num-dot-decimal" name="ello:PrepaymentOfOutstandingAmount" scale="6" unitRef="eur" id="ixv-65255">121</ix:nonFraction> million amount of the Talasol Previous Financing; (2) deposit of &#8364;<ix:nonFraction contextRef="c141" decimals="-5" format="ixt:num-dot-decimal" name="ello:DepositAsDebtServiceFund" scale="6" unitRef="eur" id="ixv-65256">6.9</ix:nonFraction>
million in Talasol&#8217;s bank account as a debt service fund; (3) deposit of &#8364;<ix:nonFraction contextRef="c141" decimals="-6" format="ixt:num-dot-decimal" name="ello:DepositAsSecurityForLetterOfCredit" scale="6" unitRef="eur" id="ixv-65257">10</ix:nonFraction> million in Talasol&#8217;s bank account as security
for a letter of credit to the Talasol PPA provider; (4) unwinding of the interest rate SWAP entered into in connection with the Previous
Financing in an amount of &#8364;<ix:nonFraction contextRef="c143" decimals="-4" format="ixt:num-dot-decimal" name="ello:PreviousFinancingAmount" scale="6" unitRef="eur" id="ixv-65258">3.29</ix:nonFraction> million; (5) transaction costs in an amount of approximately &#8364;<ix:nonFraction contextRef="c143" decimals="-6" format="ixt:num-dot-decimal" name="ello:BorrowingsTransactionCosts" scale="6" unitRef="eur" id="ixv-65259">3</ix:nonFraction> million; and (6) a special dividend
to Talasol&#8217;s shareholders in an amount of approximately &#8364;<ix:nonFraction contextRef="c141" decimals="-6" format="ixt:num-dot-decimal" name="ello:ExpectedSpecialDividend" scale="6" unitRef="eur" id="ixv-65260">31</ix:nonFraction> million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>The Ellomay Solar Project <i>-</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Ellomay Solar S.L.U. (&#8220;Ellomay Solar&#8221;),
wholly owned by Ellomay Luxembourg, owns a photovoltaic plant with an installed capacity of 28 MW in the municipality of Talav&#225;n,
C&#225;ceres, Spain (the &#8220;Ellomay Solar PV Plant&#8221;). On February 26, 2021, Ellomay Solar entered into an engineering, procurement
&amp; construction agreement in connection with the Ellomay Solar PV Plant (the &#8220;EPC Agreement&#8221;) with METKA EGN Spain S.L.U.,
a <ix:nonFraction contextRef="c144" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" unitRef="pure" id="ixv-65261">100</ix:nonFraction>% indirect subsidiary of MYTILINEOS S.A., under the Renewables &amp; Storage Development Business Unit. The EPC Agreement provides
a fixed and lump-sum amount of &#8364;<ix:nonFraction contextRef="c144" decimals="-4" format="ixt:num-dot-decimal" name="ello:FixedAndLumpsumAmount" scale="6" unitRef="eur" id="ixv-65262">15.82</ix:nonFraction> million, for the complete execution and performance of the works defined in the EPC Agreement.
The works include the engineering, procurement and construction of the Ellomay Solar PV Plant and the ancillary facilities for injecting
power into the grid and performance of two years of O&amp;M services.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In June 24, 2022, the Ellomay Solar PV
Plant was connected to the electricity grid and commenced production of electricity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;&#160;</b></p></ix:continuation><div>

</div><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 6 - Investee Companies and other investments
(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>D.</b></td><td style="text-align: justify"><b>Subsidiaries - (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in">2.</td><td style="text-align: justify"><b>PV Projects in Spain (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0.25in"><b>&#160;</b></p><div>

</div><ix:continuation id="_DisclosureOfInterestsInOtherEntitiesExplanatory-c0_cont_14"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0.25in"><b>Regulatory update</b> &#8211;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Spanish Royal Decree-Law 17/2021 of
September 14, 2021, (&#8220;RDL 17/2021&#8221;), which entered into force on September 16, 2021, established the reduction of returns
on the electricity generating activity of Spanish production facilities that do not emit greenhouse gases accomplished through payments
of a portion of the revenues by the production facilities to the Spanish government). RDL 17/2021 was extended several times and was in
effect until December 31, 2023. This reduction and payments were recorded as part of the operating expenses of the relevant facilities.
RDL 17/2021 did not apply to the portion of the revenues produced by Talasol that is subject to a fixed price under the Talasol PPA Producers
likely to be affected by the reduction were required to submit to REE a responsible statement and supporting documentation on the energy
covered by contracting instruments.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in">3.</td><td style="text-align: justify"><b>Israeli Service Concession project</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company indirectly owns a photovoltaic
site with fixed technology and a nominal capacity of approximately 9 MWp in Talmei Yosef, Israel (the &#8220;Talmei Yosef Plant&#8221;),
which was connected to the grid in November 2013. The Talmei Yosef Plant is primarily financed by an Israeli consortium led by Israel
Discount Bank.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Talmei Yosef entered into a service concession
agreement with the IEC for the construction of a PV plant in Talmei Yosef. In Under the terms of the agreement with the IEC, Talmei Yosef
operates the PV plant for a period of <ix:nonNumeric contextRef="c145" name="ello:PeriodOfPlantOperate" id="ixv-65263">20 years</ix:nonNumeric> as from November 15, 2013. The IEC provides the Company a guaranteed tariff for the electricity
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option.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In accordance with IFRIC 12, the portion
of the consideration received from the IEC that reflects the Company&#8217;s right to charge for services it provides in connection with
the operation of the Talmei Yosef PV Plant, is classified as an intangible asset. The intangible asset was recorded at the acquisition
in the amount of &#8364;<ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ContractualCommitmentsForAcquisitionOfIntangibleAssets" scale="3" unitRef="eur" id="ixv-65265">5,505</ix:nonFraction> thousand that will be amortized until the end of the service concession agreement with the IEC with Talmei
Yosef.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>Impact of War in Israel</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Talmei Yosef Plant is located in southern
Israel, in proximity to the Gaza Strip and is therefore exposed to missile and mortar bomb attacks. The Talmei Yosef Plant was not impacted
by the Iron Swords War other than a temporary halt in operations which did not have a material impact on the Company&#8217;s results.
On December 31, 2023, the Company executed an agreement to sell its holdings in the Talmei Yosef PV Plant. For more information, including
the potential impact of the Iron Swords War on the consummation of the sale, see Note 23.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in">4.</td><td style="text-align: justify"><b>Texas USA PV</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">During 2023, the Company entered into
a Joint Development Agreement with a project development company experienced in the development of energy projects, site acquisition,
capital markets and commercial management, and commenced development of PV projects in the vicinity of Dallas, Texas. Each of the PV projects
under development is expected to have a capacity of approximately 10-14 MW.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">There are currently two projects under
construction with an aggregate capacity of approximately 27.36 MW (the Fairfield and Malakoff projects), and two projects that are ready
for construction with an aggregate capacity of approximately 21.5 MW (the Mexia and Talco projects). All four projects are expected to
be connected to the grid during 2024.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The aggregate cost of development and
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">During 2023, the Company entered into
a Joint Development Agreement with a project development company experienced in the development of energy projects, site acquisition,
capital markets and commercial management, and commenced development of PV projects in the vicinity of Dallas, Texas. Each of the PV projects
under development is expected to have a capacity of approximately 10-14 MW. There are currently two projects under construction with an
aggregate capacity of approximately 27.36 MW (the Fairfield and Malakoff projects), and two projects that are ready for construction with
an aggregate capacity of approximately 21.5 MW (the Mexia and Talco projects). All four projects are expected to be connected to the grid
during 2024.</p></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory" id="ixv-27499"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 7 - Trade and Other Receivables</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c0" escape="true" name="ello:DisclosureOfTradeAndOtherReceivablesTableTextBlock" id="ixv-27503"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt">Effect of changes in exchange rates</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 8 - Fixed assets (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p><div>

</div><ix:continuation id="_DisclosureOfPropertyPlantAndEquipmentExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>Investment
in Photovoltaic Plants</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

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the Company&#8217;s investments in photovoltaic plants as at December 31, 2023:</ix:nonNumeric></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<ix:continuation id="ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#8220;Rodr&#237;guez I&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c220" decimals="3" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65387"><ix:nonFraction contextRef="c220" decimals="3" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65388">1.675</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c220" name="ello:ConnectionToGrid" id="ixv-65389">November 2011</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c221" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65390">3,662</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#8220;Rodr&#237;guez II&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c222" decimals="3" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65391"><ix:nonFraction contextRef="c222" decimals="3" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65392">2.691</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c222" name="ello:ConnectionToGrid" id="ixv-65393">November 2011</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c223" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65394">6,631</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#8220;Fuente Librilla&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c224" decimals="3" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65395"><ix:nonFraction contextRef="c224" decimals="3" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65396">1.248</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c224" name="ello:ConnectionToGrid" id="ixv-65397">June 2011</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c225" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65398">3,212</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#8220;Talasol&#8221;</td><td>&#160;</td>
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    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c226" name="ello:ConnectionToGrid" id="ixv-65401">January 2021</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c227" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65402">220,061</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#8220;Ellomay Solar&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c228" decimals="0" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65403"><ix:nonFraction contextRef="c228" decimals="0" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65404">28</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c228" name="ello:ConnectionToGrid" id="ixv-65405">July 2022</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c229" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65406">18,074</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#8220;Solar Italy One&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c230" decimals="1" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65407"><ix:nonFraction contextRef="c230" decimals="1" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65408">14.8</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c230" name="ello:ConnectionToGrid" id="ixv-65409">Under construction</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c231" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65410">12,056</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#8220;Solar Italy Two&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c232" decimals="2" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65411"><ix:nonFraction contextRef="c232" decimals="2" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65412">4.95</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c232" name="ello:ConnectionToGrid" id="ixv-65413">Under construction</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c233" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65414">4,069</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#8220;Solar Italy Four&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c234" decimals="1" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65415"><ix:nonFraction contextRef="c234" decimals="1" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65416">15.6</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c234" name="ello:ConnectionToGrid" id="ixv-65417">Ready to Build status</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c235" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65418">553</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#8220;Solar Italy Five&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c236" decimals="1" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65419"><ix:nonFraction contextRef="c236" decimals="1" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65420">87.2</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c236" name="ello:ConnectionToGrid" id="ixv-65421">Ready to Build status</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c237" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65422">4,535</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#8220;Solar Italy Seven&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c238" decimals="2" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65423"><ix:nonFraction contextRef="c238" decimals="2" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65424">54.77</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c238" name="ello:ConnectionToGrid" id="ixv-65425">Ready to Build status</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c239" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65426">1,852</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#8220;Solar Italy Nine&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c240" decimals="0" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65427"><ix:nonFraction contextRef="c240" decimals="0" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65428">8</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c240" name="ello:ConnectionToGrid" id="ixv-65429">Ready to Build status</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c241" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65430">464</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#8220;Solar Italy Ten&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c242" decimals="0" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65431"><ix:nonFraction contextRef="c242" decimals="0" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65432">18</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c242" name="ello:ConnectionToGrid" id="ixv-65433">Ready to Build status</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c243" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65434">1,071</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#8220;Fairfield Solar&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c244" decimals="2" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65435"><ix:nonFraction contextRef="c244" decimals="2" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65436">13.44</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c244" name="ello:ConnectionToGrid" id="ixv-65437">Ready to Build status</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c245" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65438">1,100</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#8220;Mexia Solar I&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c246" decimals="1" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65439"><ix:nonFraction contextRef="c246" decimals="1" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65440">5.6</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c246" name="ello:ConnectionToGrid" id="ixv-65441">Ready to Build status</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c247" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65442">808</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#8220;Mexia Solar II&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c248" decimals="1" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65443"><ix:nonFraction contextRef="c248" decimals="1" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65444">5.6</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c248" name="ello:ConnectionToGrid" id="ixv-65445">Ready to Build status</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c249" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65446">341</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#8220;Malakoff Solar I&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c250" decimals="2" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65447"><ix:nonFraction contextRef="c250" decimals="2" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65448">6.96</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c250" name="ello:ConnectionToGrid" id="ixv-65449">Ready to Build status</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c251" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65450">578</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"> &#8220;Malakoff Solar II&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c252" decimals="2" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65451"><ix:nonFraction contextRef="c252" decimals="2" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65452">6.96</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c252" name="ello:ConnectionToGrid" id="ixv-65453">Ready to Build status</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c253" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65454">351</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#8220;Talco Solar&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonFraction contextRef="c254" decimals="1" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65455"><ix:nonFraction contextRef="c254" decimals="1" format="ixt:num-dot-decimal" name="ello:OriginalNominalCapacityPlant" scale="0" unitRef="mw" id="ixv-65456">10.3</ix:nonFraction></ix:nonFraction> MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"><ix:nonNumeric contextRef="c254" name="ello:ConnectionToGrid" id="ixv-65457">Ready to Build status</ix:nonNumeric></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c255" decimals="-3" format="ixt:num-dot-decimal" name="ello:CostIncludedInBookValue" scale="3" unitRef="eur" id="ixv-65458">789</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">The Company
commences capitalization of expenses when it is probable that the Company will enjoy future economic benefits from the projects. The Company
commenced capitalization of expenses from the aforementioned projects that have reached Ready to Build status as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"><span style="text-decoration:underline">In Texas
USA</span> (i) the <span style="background-color: white">Fairfield Solar LLC Project </span>since February 2023, (ii) the Mexia Solar I LLC
and Mexia Solar II LLC Projects since July 2023, (iii) the Malakoff I Solar LLC and Malakoff II Solar LLC projects since April 2023, and
(iv) the Talco Solar LLC project since September 2023.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"><span style="text-decoration:underline">In Italy</span>
(i) Ellomay Solar Italy Seven <span style="background-color: white">SRL</span> since March 2023, and (ii) Ellomay Solar Italy Nine <span style="background-color: white">SRL</span>
since May 2023. For additional information see Notes 6C and 6D.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>Investment
in Pumped Storage Project</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Commencing the fourth quarter of 2020,
as it is probable that the Company will enjoy future economic benefits in connection with the Manara PSP (see Note 6B), expenses in connection
with the Manara PSP are capitalized as assets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>Security</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As of December 31, 2023 fixed assets
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Capitalized borrowing costs</b></p>

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construction of the Manara PSP.</p></ix:continuation><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p><div>

</div><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory" id="ixv-28729"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 9 - Other Payables</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>



</div><ix:nonNumeric contextRef="c0" escape="true" name="ello:DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlock" id="ixv-28828"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 10 - Current maturities and short term
bank loans</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><ix:nonNumeric contextRef="c0" continuedAt="ello_DisclodurOfCurrentMaturitiesAndShortTermBankLoansTableTextBlock-c0_cont_1" escape="true" name="ello:DisclodurOfCurrentMaturitiesAndShortTermBankLoansTableTextBlock" id="ixv-28833"><b>Composed as follows:</b></ix:nonNumeric></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<ix:continuation continuedAt="ello_DisclodurOfCurrentMaturitiesAndShortTermBankLoansTableTextBlock-c0_cont_2" id="ello_DisclodurOfCurrentMaturitiesAndShortTermBankLoansTableTextBlock-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: center">Linkage</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: center">Interest rate</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">December&#160;31</td><td style="font-weight: bold">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

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<td style="width: 0.25in; text-align: left">(1)</td><td style="text-align: justify"><ix:footnote id="ix_3_footnote" xml:lang="en-US">Loans provided by the minority (<ix:nonFraction contextRef="c0" decimals="2" format="ixt:num-dot-decimal" name="ello:MinorityPercentage" scale="-2" unitRef="pure" id="ixv-65495">49</ix:nonFraction>%) holders in Talasol.</ix:footnote></td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfBorrowingsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfBorrowingsExplanatory" id="ixv-28999"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 11 - Loans</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Loans details </b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&#160;</p>

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  <tr style="vertical-align: bottom; background-color: White">
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

</div><!-- Field: Page; Sequence: 46; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 11 - Loans (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Loans details (cont&#8217;d)</b></td></tr></table><div>

</div><p style="margin: 0">&#160;</p><div>


</div><ix:continuation continuedAt="_DisclosureOfBorrowingsExplanatory-c0_cont_2" id="_DisclosureOfBorrowingsExplanatory-c0_cont_1"><ix:continuation continuedAt="_DisclosureOfDetailedInformationAboutBorrowingsExplanatory-c0_cont_3" id="_DisclosureOfDetailedInformationAboutBorrowingsExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: center">Linkage</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: center">Interest rate</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"/><td style="padding-bottom: 4pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt; text-indent: -0.5in; padding-left: 0.5in">Current maturities</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"/><td style="padding-bottom: 4pt">&#160;</td>
    <td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"/><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: -0.5in; padding-left: 0.5in">&#160;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"/><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"/><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt; text-indent: -0.5in; padding-left: 0.5in">Other long-term loans</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"/><td style="padding-bottom: 4pt">&#160;</td>
    <td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"/><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
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  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="_DisclosureOfDetailedInformationAboutBorrowingsExplanatory-c0_cont_3"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left">(1)</td><td style="text-align: justify"><ix:footnote id="ix_4_footnote" xml:lang="en-US">Loans provided by the minority (<ix:nonFraction contextRef="c0" decimals="2" format="ixt:num-dot-decimal" name="ello:MinorityPercentage" scale="-2" unitRef="pure" id="ixv-65541">49</ix:nonFraction>%) holders in Talasol.</ix:footnote></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><b>Israel - Ellomay PS Loans</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -15.3pt"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 56.7pt"/><td style="width: 15.3pt; text-align: left">1.</td><td style="text-align: justify"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The Company&#8217;s
<ix:nonFraction contextRef="c269" decimals="5" format="ixt:num-dot-decimal" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" scale="-2" unitRef="pure" id="ixv-65542">83.333</ix:nonFraction>% owned Israeli subsidiary promoting the Manara PSP, Ellomay PS, entered into a loan agreement with Ampa, the owner of the remaining
<ix:nonFraction contextRef="c270" decimals="5" format="ixt:num-dot-decimal" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" scale="-2" unitRef="pure" id="ixv-65543">16.667</ix:nonFraction>% of its outstanding shares. The unpaid balance (principal and interest) of the loan is split into <ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="ello:NumberOfSplittingOfLoans" scale="0" unitRef="pure" id="ixv-65544">2</ix:nonFraction> separate loans, an interest-bearing
loan at an annual rate of <ix:nonFraction contextRef="c271" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65545">7</ix:nonFraction>% linked to the consumer price index (senior international debt), and a mezzanine loan (an internationally
inferior debt) bearing an annual interest rate of <ix:nonFraction contextRef="c272" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65546">5</ix:nonFraction>%. The maturity date of this loan starts from <ix:nonNumeric contextRef="c273" name="ifrs-full:BorrowingsMaturity" id="ixv-65547">December 31, 2027</ix:nonNumeric>. As of December 31,
2023, the amount of the loan is NIS <ix:nonFraction contextRef="c274" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="ils" id="ixv-65548">33,910</ix:nonFraction> thousand (&#8364;<ix:nonFraction contextRef="c274" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-65549">8,452</ix:nonFraction> thousand).</p>
</td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 56.7pt"/><td style="width: 15.3pt">2.</td><td style="text-align: justify">On February 11, 2021, the Manara PSP Project Finance achieved financial closing. The Manara PSP Project
Finance facilities are provided by a consortium of Israeli banks and institutional investors, arranged and led by Mizrahi-Tefahot Bank
Ltd. The Manara PSP Project Finance long-term facilities were originally in the aggregate amount of approximately NIS <ix:nonFraction contextRef="c275" decimals="-7" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="9" unitRef="ils" id="ixv-65550">1.27</ix:nonFraction> billion (approximately
&#8364;<ix:nonFraction contextRef="c275" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="6" unitRef="eur" id="ixv-65551">338</ix:nonFraction> million). This aggregate amount represents the real (non-indexed) value of the Long-Term Facilities as of the date of financial
closing. Such amount, as well as the standby facilities, is linked to a synthetic composite index comprising a weighted average of the
indices and currencies applicable to the Manara PSP&#8217;s construction costs (the &#8220;Project Index&#8221;), on an annual basis during
the first 4 years of construction, and thereafter semi-annually until construction end. As a result of the linkage to the Project Index,
the long-term facilities amount increased in March 2022 and March 2023 by approximately NIS <ix:nonFraction contextRef="c276" decimals="-6" format="ixt:num-dot-decimal" name="ello:LongTermBorrowingsRiseInCurrentYear" scale="6" unitRef="ils" id="ixv-65552">40</ix:nonFraction> million (approximately &#8364;<ix:nonFraction contextRef="c277" decimals="-5" format="ixt:num-dot-decimal" name="ello:LongTermBorrowingsRiseInCurrentYear" scale="6" unitRef="eur" id="ixv-65553">10.6</ix:nonFraction> million)
and approximately NIS <ix:nonFraction contextRef="c278" decimals="-6" format="ixt:num-dot-decimal" name="ello:LongTermBorrowingsRiseInCurrentYear" scale="6" unitRef="ils" id="ixv-65554">63</ix:nonFraction> million (approximately &#8364;<ix:nonFraction contextRef="c278" decimals="-5" format="ixt:num-dot-decimal" name="ello:LongTermBorrowingsRiseInCurrentYear" scale="6" unitRef="eur" id="ixv-65555">16.8</ix:nonFraction> million), respectively.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">The Manara PSP
Project Finance facilities includes two Long-Term Facilities: (i) a Senior Secured A Tranche at a fixed rate of interest for each drawdown,
with base interest rate equal to the yield to maturity of Israeli treasury bonds with like duration of the drawn loan, plus a spread of
<ix:nonFraction contextRef="c279" decimals="4" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65556">3.25</ix:nonFraction>% per-annum during the Construction Period of the Project and a spread of <ix:nonFraction contextRef="c280" decimals="4" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65557">2.40</ix:nonFraction>% per-annum from the Actual Completion Construction
Date. The Senior Secured Tranche is linked to the Israeli Consumer Price Index and is to be repaid over a period of <ix:nonNumeric contextRef="c281" format="ixt-sec:duryear" name="ello:MaturityPeriod" id="ixv-65558">19.5</ix:nonNumeric> years from the
commercial operation date; and (ii) a Subordinated Secured B Tranche at a floating rate of interest, with the base interest being the
Bank of Israel rate, plus a spread of <ix:nonFraction contextRef="c282" decimals="4" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65559">4.35</ix:nonFraction>% per-annum during the construction period and a spread of <ix:nonFraction contextRef="c283" decimals="4" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65560">3.90</ix:nonFraction>% per-annum from the Actual Completion
Construction Date. The stated maturity of the Tranche B loan is one year less than the maturity of the Senior Secured Loan with a cash
sweep mechanism that shortens its maturity to approximately <ix:nonNumeric contextRef="c284" format="ixt-sec:duryear" name="ello:MaturityPeriod" id="ixv-65561">12</ix:nonNumeric> years from the commercial operation date under the Base Case Financial
Model and the Manara PSP Project Finance also includes standby facilities (Tranche A and Tranche B).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">

</p></ix:continuation><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 11 - Loans (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Loans details (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"><b>Israel -&#160;Ellomay PS
Loans (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfBorrowingsExplanatory-c0_cont_3" id="_DisclosureOfBorrowingsExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">The Manara PSP
Project Finance includes customary terms in connection with early prepayment, acceleration of payments upon certain breaches and limitations
on distributions. The Manara PSP Project Finance also includes ancillary facilities VAT, Guarantees and Debt Service Reserve facilities
in an aggregate amount of approximately NIS <ix:nonFraction contextRef="c285" decimals="-6" format="ixt:num-dot-decimal" name="ello:AggregateBookValueInvestmentInSubsidiary" scale="6" unitRef="ils" id="ixv-65562">64</ix:nonFraction> million (approximately &#8364;<ix:nonFraction contextRef="c285" decimals="-5" format="ixt:num-dot-decimal" name="ello:AggregateBookValueInvestmentInSubsidiary" scale="6" unitRef="eur" id="ixv-65563">17.1</ix:nonFraction> million).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">The Manara PSP
Project Finance includes mandatory cash sweeps upon certain cover ratio and other events with respect to the Senior Secured Tranche, cash
sweep payments in connection with the Subordinated Secured Tranche as mentioned above and other lender protection mechanisms.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">In addition,
the Manara PSP Project Finance agreement permits the owners of the Manara PSP to drawdown a developers&#8217; fee on the Actual Completion
Construction Date (as such term is defined in the Manara PSP Project loan agreements) of the Manara PSP, subject to availability of funding
in the Standby Facility at the time and provided the Average ADSCR at the time is not less than a ratio of 1.28.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Ellomay and Ampa
provided certain sponsor support undertakings towards the lenders commensurate with the size and complexity of the project and the length
of the construction period, including a standby equity guarantee in the aggregate amount of approximately NIS <ix:nonFraction contextRef="c286" decimals="-5" format="ixt:num-dot-decimal" name="ello:StandbyEquityGuarantee" scale="6" unitRef="ils" id="ixv-65564">12.5</ix:nonFraction> million (approximately
&#8364;<ix:nonFraction contextRef="c286" decimals="-5" format="ixt:num-dot-decimal" name="ello:StandbyEquityGuarantee" scale="6" unitRef="eur" id="ixv-65565">3.3</ix:nonFraction> million), pro rata to their holdings in the Manara PSP. This standby equity guarantee is linked monthly to the Israeli CPI and
adjusted (if applicable) in the same manner and timing as the Long-Term Facilities, as described above.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">As of December
31, 2023 a total aggregate amount of NIS <ix:nonFraction contextRef="c287" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="ils" id="ixv-65566">245,656</ix:nonFraction> (&#8364;<ix:nonFraction contextRef="c288" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-65567">65,452</ix:nonFraction> thousand) was drawn down under the Manara PSP Project Finance from the
Senior Secured Tranche (interest rate range between <ix:nonFraction contextRef="c289" decimals="4" format="ixt:num-dot-decimal" name="ello:PercentageOfMaximumGuaranteedAmount" scale="-2" unitRef="pure" id="ixv-65568">2.75</ix:nonFraction>%-<ix:nonFraction contextRef="c290" decimals="4" format="ixt:num-dot-decimal" name="ello:PercentageOfMaximumGuaranteedAmount" scale="-2" unitRef="pure" id="ixv-65569">4.78</ix:nonFraction>% linked to the Israeli Consumer Price Index) and a total aggregate amount
of NIS <ix:nonFraction contextRef="c291" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="ils" id="ixv-65570">20,875</ix:nonFraction> (&#8364;<ix:nonFraction contextRef="c291" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-65571">5,527</ix:nonFraction> thousand) was drawn from the Subordinated Secured B Tranche (floating interest rate based on the Bank of Israel
Rate &#8211; <ix:nonFraction contextRef="c292" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65572">9.1</ix:nonFraction>% as of December 31, 2023).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>The Netherland - Bio Gas
- Loans </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -15.3pt">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 56.7pt"/><td style="width: 15.3pt; text-align: left">1.</td><td style="text-align: justify"><b>Groen Goor</b> and Ellomay Luxembourg entered into a senior
project finance agreement in 2017 (the &#8220;Goor Loan Agreement&#8221;), with Co&#246;peratieve Rabobank U.A. (&#8220;Rabobank&#8221;),
that includes the following tranches: (i) two loans with principal amounts of &#8364;<ix:nonFraction contextRef="c293" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-65573">3,510</ix:nonFraction> thousand (with a fixed interest rate of <ix:nonFraction contextRef="c293" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65574">3</ix:nonFraction>%
until the end of 2021 and with a fixed interest rate of <ix:nonFraction contextRef="c294" decimals="4" format="ixt:num-dot-decimal" name="ello:FixedAnnualInterestRate" scale="-2" unitRef="pure" id="ixv-65575">3.45</ix:nonFraction>% for the next five years) and &#8364;<ix:nonFraction contextRef="c295" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-65576">2,090</ix:nonFraction> thousand, (with a fixed interest
rate of <ix:nonFraction contextRef="c296" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65577">2.5</ix:nonFraction>% until the end of March 2022 and then with a fixed interest rate of <ix:nonFraction contextRef="c297" decimals="4" format="ixt:num-dot-decimal" name="ello:FixedAnnualInterestRate" scale="-2" unitRef="pure" id="ixv-65578">2.65</ix:nonFraction>% until the end of March 2023 and with a fixed interest
rate of <ix:nonFraction contextRef="c298" decimals="4" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65579">6.05</ix:nonFraction>% until the end of March 2026), for a period of <ix:nonNumeric contextRef="c299" format="ixt-sec:duryear" name="ello:MaturityPeriod" id="ixv-65580">12.25</ix:nonNumeric> years, repayable in equal monthly installments commencing three months
following the connection of the Goor Project&#8217;s facility to the grid and (ii) an on-call credit facility of &#8364;<ix:nonFraction contextRef="c300" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-65581">370</ix:nonFraction> thousand with
variable interest. The amount of &#8364;<ix:nonFraction contextRef="c299" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountWithdrawnFromLoanAccount" scale="3" unitRef="eur" id="ixv-65582">5,600</ix:nonFraction> thousand was withdrawn in 2017 on account of these loans. In connection with the Goor Loan
Agreement, the following securities were provided to Rabobank: (i) pledge on the present and future rights arising from the feedstock
purchase agreement, the EPC agreement, the O&amp;M agreement, the SDE subsidy, the various power and green gas purchase agreements, and
the green gas certification supply agreement, (ii) pledge on all present and future (a) receivables arising from business and trade,
and (b) stock and inventory including machinery and transport vehicles of Groen Goor, and (iii) all rights/claims of Groen Goor against
third parties existing at the time of the execution of the Loan Agreement, including rights from insurance agreements.</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
11 - Loans (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Loans
                                            details (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
Netherland - Bio Gas - Loans (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><ix:continuation continuedAt="_DisclosureOfBorrowingsExplanatory-c0_cont_4" id="_DisclosureOfBorrowingsExplanatory-c0_cont_3"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Groen Gas Oude-Tonge</b> and Ellomay Luxembourg entered into a senior project finance agreement (the &#8220;Oude Tonge Loan Agreement&#8221;), with Rabobank, that includes the following tranches: (i) three loans with principal amounts of &#8364;<ix:nonFraction contextRef="c301" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-65583">3,150</ix:nonFraction> thousand (with a fixed interest rate of <ix:nonFraction contextRef="c302" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65584">3.1</ix:nonFraction>% the end of June 2022 and with a fixed interest rate of <ix:nonFraction contextRef="c303" decimals="4" format="ixt:num-dot-decimal" name="ello:FixedAnnualInterestRate" scale="-2" unitRef="pure" id="ixv-65585">3.95</ix:nonFraction>% for the next three years), &#8364;<ix:nonFraction contextRef="c304" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-65586">1,540</ix:nonFraction> thousand (with a fixed interest rate of <ix:nonFraction contextRef="c305" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65587">2.9</ix:nonFraction>% until the end of March 2023 and with a fixed interest rate of <ix:nonFraction contextRef="c306" decimals="4" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65588">5.15</ix:nonFraction>% for the next five years) and &#8364;<ix:nonFraction contextRef="c307" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-65589">160</ix:nonFraction> thousand, (with a fixed interest rate of <ix:nonFraction contextRef="c308" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65590">3.4</ix:nonFraction>% until the end of March 2023 and with a fixed interest rate of <ix:nonFraction contextRef="c2" decimals="4" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65591">5.65</ix:nonFraction>% for the next five years), for a period of <ix:nonNumeric contextRef="c309" format="ixt-sec:duryear" name="ello:MaturityPeriod" id="ixv-65592">12.25</ix:nonNumeric> years, repayable in equal monthly installments commencing three months following the connection of the Oude Tonge Project&#8217;s facility to the grid and (ii) an on-call credit facility of &#8364;<ix:nonFraction contextRef="c310" decimals="-3" format="ixt:num-dot-decimal" name="ello:OnCallCreditFacility" scale="3" unitRef="eur" id="ixv-65593">100</ix:nonFraction> thousand with variable interest. The amount of &#8364;<ix:nonFraction contextRef="c311" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountWithdrawnFromLoanAccount" scale="3" unitRef="eur" id="ixv-65594"><ix:nonFraction contextRef="c312" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountWithdrawnFromLoanAccount" scale="3" unitRef="eur" id="ixv-65595">4,850</ix:nonFraction></ix:nonFraction> thousand was withdrawn in 2017 and 2018 on account of these loans.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the Goor Loan Agreement and the Oude Tonge Loan Agreement Ellomay Luxembourg, the Company&#8217;s wholly-owned subsidiary:
(i) provided the following undertakings to Rabobank: (a) <ix:nonNumeric contextRef="c313" name="ello:DescriptionOfDebtEquityRatioAndHoldings" id="ixv-65596">that Groen Goor and Groen Gas Oude Tonge, as applicable, will not make distributions
to its shareholders for a period of two years following the execution of the Loan Agreement, (b) that Groen Goor will not make distributions
or repurchase its shares so long as the equity (including owners loans) to total assets ratio of Groen Goor is less than 40%, (c) that
in the event the equity (including owners loans) to total assets ratio of Groen Goor and Groen Gas Oude Tonge will be below 40%, its
shareholders will invest the equity required in order to increase this ratio to 40%, pro rata to their holdings in Groen Goor and Groen
Gas Oude Tonge, as applicable, and up to a maximum of &#8364;1.2 million</ix:nonNumeric>, and (d) that they will provide the equity required for the completion
of the Goor Project (ii) provided pledges on their respective rights in connection with the shareholders loans which each provided to
Groen Goor and Groen Gas Oude Tonge, which loans shall also be subordinated by Ellomay Luxembourg in the favor of Rabobank. In addition,
the Company provided a guarantee to Rabobank for the fulfillment of Ellomay Luxembourg&#8217;s undertakings set forth above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -13.5pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GG Gelderland</b> entered into a senior project finance agreement (the &#8220;Gelderland Loan Agreement&#8221;), with Rabobank, that includes the following tranches: (i) four loans with principal amounts of (a) &#8364;<ix:nonFraction contextRef="c314" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-65597">2,453</ix:nonFraction> thousand (with a fixed interest rate of <ix:nonFraction contextRef="c314" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65598">3.6</ix:nonFraction>% for the first five years), (b) &#8364;<ix:nonFraction contextRef="c315" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-65599">1,200</ix:nonFraction> thousand (with a fixed interest rate of <ix:nonFraction contextRef="c315" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65600">4.5</ix:nonFraction>% until the beginning of December 2020 and with a fixed interest rate of <ix:nonFraction contextRef="c316" decimals="3" format="ixt:num-dot-decimal" name="ello:FixedAnnualInterestRate" scale="-2" unitRef="pure" id="ixv-65601">3.5</ix:nonFraction>% until the beginning of December 2025), (c) &#8364;<ix:nonFraction contextRef="c317" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-65602">400</ix:nonFraction> thousand (with a fixed interest rate of <ix:nonFraction contextRef="c317" decimals="4" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65603">3.55</ix:nonFraction>% until the end of January 2023 and with a fixed interest rate of <ix:nonFraction contextRef="c318" decimals="4" format="ixt:num-dot-decimal" name="ello:FixedAnnualInterestRate" scale="-2" unitRef="pure" id="ixv-65604">5.95</ix:nonFraction>% until the end of the loan period) and (d) &#8364;<ix:nonFraction contextRef="c319" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-65605">2,847</ix:nonFraction> thousand (with a fixed interest rate of <ix:nonFraction contextRef="c58" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65606">4.5</ix:nonFraction>% until the beginning of December 2020 and with a fixed interest rate of <ix:nonFraction contextRef="c320" decimals="3" format="ixt:num-dot-decimal" name="ello:FixedAnnualInterestRate" scale="-2" unitRef="pure" id="ixv-65607">3.5</ix:nonFraction>% until the beginning of December 2025), all for a period of <ix:nonNumeric contextRef="c324" format="ixt-sec:duryear" name="ello:MaturityPeriod" id="ixv-65608"><ix:nonNumeric contextRef="c323" format="ixt-sec:duryear" name="ello:MaturityPeriod" id="ixv-65609"><ix:nonNumeric contextRef="c322" format="ixt-sec:duryear" name="ello:MaturityPeriod" id="ixv-65610"><ix:nonNumeric contextRef="c321" format="ixt-sec:duryear" name="ello:MaturityPeriod" id="ixv-65611">12</ix:nonNumeric></ix:nonNumeric></ix:nonNumeric></ix:nonNumeric> years (<ix:nonNumeric contextRef="c324" format="ixt-sec:durmonth" name="ello:NumberOfPaymentsInstallment" id="ixv-65612"><ix:nonNumeric contextRef="c323" format="ixt-sec:durmonth" name="ello:NumberOfPaymentsInstallment" id="ixv-65613"><ix:nonNumeric contextRef="c322" format="ixt-sec:durmonth" name="ello:NumberOfPaymentsInstallment" id="ixv-65614"><ix:nonNumeric contextRef="c321" format="ixt-sec:durmonth" name="ello:NumberOfPaymentsInstallment" id="ixv-65615">144</ix:nonNumeric></ix:nonNumeric></ix:nonNumeric></ix:nonNumeric> monthly payments), repayable in equal monthly installments and (ii) an on-call credit facility of &#8364;<ix:nonFraction contextRef="c325" decimals="-3" format="ixt:num-dot-decimal" name="ello:OnCallCreditFacility" scale="3" unitRef="eur" id="ixv-65616">750</ix:nonFraction> thousand with variable interest. An aggregate amount of &#8364;<ix:nonFraction contextRef="c326" decimals="-3" format="ixt:num-dot-decimal" name="ello:DepositAsDebtServiceFund" scale="3" unitRef="eur" id="ixv-65617"><ix:nonFraction contextRef="c327" decimals="-3" format="ixt:num-dot-decimal" name="ello:DepositAsDebtServiceFund" scale="3" unitRef="eur" id="ixv-65618"><ix:nonFraction contextRef="c328" decimals="-3" format="ixt:num-dot-decimal" name="ello:DepositAsDebtServiceFund" scale="3" unitRef="eur" id="ixv-65619">6,900</ix:nonFraction></ix:nonFraction></ix:nonFraction> thousand was withdrawn in 2015, 2016 and 2018 on account of these loans. On November 30, 2020, GG Gelderland replaced the loan set forth in (i)(a) above, which as of that date had an outstanding principal amount of &#8364;<ix:nonFraction contextRef="c325" decimals="-3" format="ixt:num-dot-decimal" name="ello:RemainingBorrowingsAmount" scale="3" unitRef="eur" id="ixv-65620">1,890</ix:nonFraction> thousand, with another loan from Rabobank with a fixed interest rate of <ix:nonFraction contextRef="c329" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65621">3.1</ix:nonFraction>% per year, repayable in <ix:nonNumeric contextRef="c330" format="ixt-sec:durmonth" name="ello:NumberOfPaymentsInstallment" id="ixv-65622">56</ix:nonNumeric> payments monthly, with a repayment of principal in one payment in <ix:nonNumeric contextRef="c330" name="ifrs-full:BorrowingsMaturity" id="ixv-65623">August 2025</ix:nonNumeric>.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
11 - Loans (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Loans
                                            details (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
Netherland - Bio Gas - Loans (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GG
                                            Gelderland (cont&#8217;d)</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><ix:continuation continuedAt="_DisclosureOfBorrowingsExplanatory-c0_cont_5" id="_DisclosureOfBorrowingsExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the Gelderland Loan Agreement, the following securities were provided to Rabobank: (i) pledge on the present and future
rights arising from the feedstock purchase agreement, the EPC agreement, the O&amp;M agreement, the SDE subsidy, the various power and
green gas purchase agreements, and the green gas certification supply agreement, (ii) pledge on all present and future (a) receivables
arising from business and trade, and (b) stock and inventory including machinery and transport vehicles of GG Gelderland, and (iii) all
rights/claims of GG Gelderland against third parties existing at the time of the execution of the Gelderland Loan Agreement, including
rights from insurance agreements. In connection with the Gelderland Loan Agreement, Ellomay Luxembourg, the Company wholly-owned subsidiary,
provided the undertaking to Rabobank that Ellomay Luxembourg will not sell the shares of GG Gelderland without the prior written consent
of Rabobank.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in">4.</td><td style="text-align: justify"><b>GG Gelderland</b>, entered into a loan agreement in the end of November 2020, with Ontwikkelingsnaatscgappij
Oost-Nederland N.V. (&#8220;Oost&#8221;), as a benefit created in connection with the Covid-19 pandemic. The loan is with a principal
amount of &#8364;<ix:nonFraction contextRef="c331" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-65624">750</ix:nonFraction> thousand bore a fixed interest rate of <ix:nonFraction contextRef="c331" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65625">3</ix:nonFraction> % per year for <ix:nonNumeric contextRef="c330" format="ixt-sec:duryear" name="ello:MaturityPeriod" id="ixv-65626">3</ix:nonNumeric> years. The interest and the principle were to be fully repaid
in one single amount after 3 years. According to the agreement with Oost, the loan term may be prolonged to <ix:nonNumeric contextRef="c330" format="ixt-sec:duryear" name="ello:MaturityPeriodTerm" id="ixv-65627">5</ix:nonNumeric> years. In October 2023,
it was decided to extend the loan to <ix:nonNumeric contextRef="c332" format="ixt-sec:duryear" name="ello:ExtensionOfMaturityTermPeriod" id="ixv-65628">5</ix:nonNumeric> years and the interest rate changed to <ix:nonFraction contextRef="c333" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65629">5</ix:nonFraction>% as from November 2020.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Spain
- Loans</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 12, 2019, four of the Company&#8217;s Spanish subsidiaries (together, the &#8220;Subsidiaries&#8221;) entered into a &#8364;<ix:nonFraction contextRef="c334" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="6" unitRef="eur" id="ixv-65630">18.4</ix:nonFraction>
million project finance Facility Agreement (the &#8220;Facility Agreement&#8221;). The &#8364;<ix:nonFraction contextRef="c335" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="6" unitRef="eur" id="ixv-65631">18.4</ix:nonFraction> million principal amount is divided
into: (i) four term loan facilities, one for each Subsidiary, in the aggregate amount of &#8364;<ix:nonFraction contextRef="c336" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:NotionalAmount" scale="6" unitRef="eur" id="ixv-65632">17.6</ix:nonFraction> million with terms ending in <ix:nonNumeric contextRef="c337" name="ifrs-full:BorrowingsMaturity" id="ixv-65633">December
2037</ix:nonNumeric>, and (ii) a revolving credit facility to attend the debt service if needed, for a maximum amount of euro <ix:nonFraction contextRef="c338" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="6" unitRef="eur" id="ixv-65634">0.8</ix:nonFraction> million granted to
any of the Subsidiaries.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
loans provided under the Facility Agreement bear an annual interest at the rate of <ix:nonNumeric contextRef="c337" name="ifrs-full:BorrowingsInterestRateBasis" id="ixv-65635">Euribor 6 months plus a margin of 2% (with a zero
interest floor) and repaid semi-annually on June 20 and December 20</ix:nonNumeric>. The principal is repaid on a semi-annual basis based on a pre-determined
sculptured repayment schedule.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><ix:nonNumeric contextRef="c337" name="ello:DescriptionOfDebtEquityRatioAndHoldings" id="ixv-29604"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Facility Agreement provides for mandatory prepayment upon the occurrence of certain events and includes various customary representations,
warranties and covenants, including covenants to maintain a DSCR on an aggregate basis not lower than 1.05:1, and not to make distributions
unless, among other things: (i) the DSCR, on an aggregate basis, is equal to or higher than 1.15:1.0, (ii) the first instalment of the
Project Finance has been repaid, (iii) no amount under the revolving credit tranche has been withdrawn and not fully repaid and no drawdowns
of the revolving credit tranche are expected within the next six months, and (iv) the Subsidiaries&#8217; net debt to regulatory value
(as such terms are defined in the Facility Agreement) ratio is equal to or higher than 0.7:1.</span></ix:nonNumeric></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
11 - Loans (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Loans
                                            details (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Spain
- Loans (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><ix:continuation continuedAt="_DisclosureOfBorrowingsExplanatory-c0_cont_6" id="_DisclosureOfBorrowingsExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white">The
regulatory value of the PV Plants owned by the Subsidiaries is approximately &#8364;<ix:nonFraction contextRef="c339" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="6" unitRef="eur" id="ixv-65636">23.5</ix:nonFraction> million, compared to their aggregate nominal purchase
price, which was approximately &#8364;<ix:nonFraction contextRef="c340" decimals="-4" format="ixt:num-dot-decimal" name="ello:AggregateNominalPurchasePrice" scale="6" unitRef="eur" id="ixv-65637">14.85</ix:nonFraction> million and their aggregate book value, which was approximately &#8364;<ix:nonFraction contextRef="c340" decimals="-5" format="ixt:num-dot-decimal" name="ello:AggregateBookValueInvestmentInSubsidiary" scale="6" unitRef="eur" id="ixv-65638">14.6</ix:nonFraction> million as of September
30, 2018. The Facility Agreements includes a cash-sweep payment mechanism and obligation that applies in the event the Subsidiaries&#8217;
net debt to regulatory value ratio is equal to or higher than 0.7:1.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white">

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the financial covenants were met.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 12, 2019, the Subsidiaries entered into swap agreements with respect to approximately &#8364;<ix:nonFraction contextRef="c341" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:NotionalAmount" scale="6" unitRef="eur" id="ixv-65639">17.6</ix:nonFraction> million (with a decreasing notional
principal amount based on the amortization table) until <ix:nonNumeric contextRef="c342" name="ifrs-full:BorrowingsMaturity" id="ixv-65640">December 2037</ix:nonNumeric>, replacing the <ix:nonNumeric contextRef="c342" name="ifrs-full:BorrowingsInterestRateBasis" id="ixv-65641">Euribor 6 month rate with a fixed 6 month rate of
approximately 1%, resulting in a fixed annual interest rate of approximately 3%.</ix:nonNumeric> Such swap transactions qualify for hedge accounting.
See Note 21 E regarding the effect of the expected transition away from Libor and Euribor.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
documents ancillary to the Facility Agreements require that security interests be provided in connection with the following: (i) the
Subsidiaries&#8217; shares (held by Ellomay Luxembourg(, (ii) pledges over accounts, (iii) pledges over relevant agreements including
hedging agreements; and (iv) promissory equipment mortgage.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Talasol
- Loans </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 35.4pt">1.</td><td style="text-align: justify">In December 2021, Talasol entered into financing agreement (the &#8220;Talasol Facilities Agreement&#8221;).
Financial closing of the Talasol Facilities Agreement was achieved in January 2022. The Talasol Facilities Agreement provides for the
provision of two tranches:</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a term loan in the amount of &#8364;<ix:nonFraction contextRef="c343" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="6" unitRef="eur" id="ixv-65642">155</ix:nonFraction> million of which the final maturity date is <ix:nonNumeric contextRef="c344" name="ifrs-full:BorrowingsMaturity" id="ixv-65643">June 30, 2044</ix:nonNumeric>, and</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr> </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a term loan in the amount of &#8364;<ix:nonFraction contextRef="c345" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="6" unitRef="eur" id="ixv-65644">20</ix:nonFraction> million of which the final maturity date is <ix:nonNumeric contextRef="c346" name="ifrs-full:BorrowingsMaturity" id="ixv-65645">December 31, 2042</ix:nonNumeric>. </span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr> </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Principal
and interest at a weighted average of approximately <ix:nonFraction contextRef="c278" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65646">3</ix:nonFraction>% repayment are made on a semi-annual basis, in June and December.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
agreements executed in connection with the Talasol Financing provide for mandatory prepayment upon the occurrence of certain events and
various customary representations, warranties, and covenants, including covenants to maintain a Historic and Forecast DSCR equal to at
least 1.05x. Moreover, Talasol undertook not to make distributions in the event that: (i) the Historic and Forecast DSCR will be lower
than 1.10x until the expiration date of the Talasol PPA and equal to at least 1.25x thereafter and (ii) the Loan Life Cover Ratio will
be lower than 1.30x from the expiration date of the Talasol PPA and until maturity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.85pt; text-align: justify; text-indent: 0in; background-color: white">The
Talasol Facilities Agreement requires that security interests be provided in connection with the following: (i) Talasol&#8217;s shares
(held by Ellomay Luxembourg and the other shareholders of Talasol), (ii) pledges over credit rights under certain accounts, (iii) pledges
over credit rights under certain Talasol PV Plant&#8217;s documents, (iv) pledges over credit rights under the shareholders loans, (v)
security assignment of receivables in connection with the Talasol PPA, (vi) promissory equipment mortgage and (vii) mortgage on all solar
modules and power inverters comprised in the project.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white">

</p></ix:continuation><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"></p><div>

</div><!-- Field: Page; Sequence: 51; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
11 - Loans (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Loans
                                            details (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Talasol
- Loans (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -35.4pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><ix:continuation continuedAt="_DisclosureOfBorrowingsExplanatory-c0_cont_7" id="_DisclosureOfBorrowingsExplanatory-c0_cont_6"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 35.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 30, 2019, following the closing of Talasol PV Plant and sale of <ix:nonFraction contextRef="c347" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" scale="-2" unitRef="pure" id="ixv-65647">49</ix:nonFraction>% holdings of the Talasol Project, Talasol entered into a loan agreement with GSE 3 UK Limited and Fond-ICO Infraestructuras II, FICC (the minority shareholders of Talasol, each of whom owns <ix:nonFraction contextRef="c347" decimals="3" format="ixt:num-dot-decimal" name="ello:PercentageOfMinorityInterestOfOwnershipInterestInAssociate" scale="-2" unitRef="pure" id="ixv-65648">24.5</ix:nonFraction>% of Talasol). The unpaid balance (principal and interest) of the loan will bear interest of <ix:nonNumeric contextRef="c347" name="ifrs-full:BorrowingsInterestRateBasis" id="ixv-65649">Euribor 6 mount plus 5.27%.</ix:nonNumeric> The maturity date of this loan is <ix:nonNumeric contextRef="c348" name="ifrs-full:BorrowingsMaturity" id="ixv-65650">December 31, 2037</ix:nonNumeric>. As of December 31, 2023, the amount of the loan is &#8364;<ix:nonFraction contextRef="c278" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-65651">25,055</ix:nonFraction> thousand.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 35.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="ello_DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory-c0_cont_1" escape="true" name="ello:DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory" id="ixv-29798"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The aggregate annual maturities are as follows:</b></span></ix:nonNumeric></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:continuation id="ello_DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Second year</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c396" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="3" unitRef="eur" id="ixv-65652">14,049</ix:nonFraction></span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c397" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="3" unitRef="eur" id="ixv-65653">13,811</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Third year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c398" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="3" unitRef="eur" id="ixv-65654">13,668</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c399" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="3" unitRef="eur" id="ixv-65655">15,952</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Fourth year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c400" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="3" unitRef="eur" id="ixv-65656">15,828</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c401" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="3" unitRef="eur" id="ixv-65657">14,759</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Fifth year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c403" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="3" unitRef="eur" id="ixv-65659">16,026</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 35.4pt"><ix:nonNumeric contextRef="c349" continuedAt="_BorrowingsInterestRateBasis-c349_cont_1" name="ifrs-full:BorrowingsInterestRateBasis" id="ixv-30041"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></ix:nonNumeric></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:continuation id="_BorrowingsInterestRateBasis-c349_cont_1">In order to minimize the interest-rate risk resulting from liabilities to banks and financing institutions linked to the Euribor, the Company executed swap transactions.</ix:continuation> For more information, see Note 21.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 35.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.</b></span></td><td style="text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="ello_DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory-c0_cont_1" escape="true" name="ello:DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory" id="ixv-30056"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Movement in liabilities deriving from financing activities</b></span></ix:nonNumeric></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<ix:continuation continuedAt="ello_DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory-c0_cont_2" id="ello_DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="eur" id="ixv-65675">55,808</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c413" decimals="-3" format="ixt:num-dot-decimal" name="ello:RepaymentOfDebentures" scale="3" unitRef="eur" id="ixv-65676">17,763</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:RepaymentOfDebentures" scale="3" unitRef="eur" id="ixv-65677">17,763</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c412" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="3" unitRef="eur" id="ixv-65678">32,157</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-163; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="3" unitRef="eur" id="ixv-65679">32,157</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c412" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" scale="3" unitRef="eur" id="ixv-65680">12,736</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-164; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" scale="3" unitRef="eur" id="ixv-65681">12,736</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c412" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:InterestPaidClassifiedAsFinancingActivities" scale="3" unitRef="eur" id="ixv-65682">4,284</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-165; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:InterestPaidClassifiedAsFinancingActivities" scale="3" unitRef="eur" id="ixv-65683">4,284</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c412" decimals="-3" format="ixt:num-dot-decimal" name="ello:LinkageValueOfLoansAndBorrowings" scale="3" unitRef="eur" id="ixv-65684">1,849</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-166; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:LinkageValueOfLoansAndBorrowings" scale="3" unitRef="eur" id="ixv-65685">1,849</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c412" decimals="-3" format="ixt:num-dot-decimal" name="ello:BorrowingsTransactionCosts" scale="3" sign="-" unitRef="eur" id="ixv-65686">686</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c413" decimals="-3" format="ixt:num-dot-decimal" name="ello:BorrowingsTransactionCosts" scale="3" unitRef="eur" id="ixv-65687">446</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:BorrowingsTransactionCosts" scale="3" sign="-" unitRef="eur" id="ixv-65688">240</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Transfer to disposal
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    <td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c412" decimals="-3" format="ixt:num-dot-decimal" name="ello:TransferToDisposalGroupsHeldForSaleinDollars" scale="3" sign="-" unitRef="eur" id="ixv-65689">13,047</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-167; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:TransferToDisposalGroupsHeldForSaleinDollars" scale="3" sign="-" unitRef="eur" id="ixv-65690">13,047</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total net financing liabilities</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c412" decimals="-3" format="ixt:num-dot-decimal" name="ello:CashFlowsFromUsedInFinancingActivities1" scale="3" unitRef="eur" id="ixv-65691">285,684</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c413" decimals="-3" format="ixt:num-dot-decimal" name="ello:CashFlowsFromUsedInFinancingActivities1" scale="3" unitRef="eur" id="ixv-65692">148,919</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:CashFlowsFromUsedInFinancingActivities1" scale="3" unitRef="eur" id="ixv-65693">434,603</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Effect
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    <td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c412" decimals="-3" format="ixt:num-dot-decimal" name="ello:EffectOfChangesInForeignExchangeRates" scale="3" sign="-" unitRef="eur" id="ixv-65694">3,746</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c413" decimals="-3" format="ixt:num-dot-decimal" name="ello:EffectOfChangesInForeignExchangeRates" scale="3" sign="-" unitRef="eur" id="ixv-65695">8,832</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:EffectOfChangesInForeignExchangeRates" scale="3" sign="-" unitRef="eur" id="ixv-65696">12,578</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Balance as at December
    31, 2023</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c415" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentFinancialLiabilities" scale="3" unitRef="eur" id="ixv-65698">140,087</ix:nonFraction></span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

</div><!-- Field: Page; Sequence: 52; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
11 - Loans (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 35.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Movement
                                            in liabilities deriving from financing activities (cont&#8217;d)</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><ix:continuation id="_DisclosureOfBorrowingsExplanatory-c0_cont_7"><ix:continuation id="ello_DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Note</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">borrowings</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 54%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Balance as at January 1, 2022</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c416" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentFinancialLiabilities" scale="3" unitRef="eur" id="ixv-65700">218,895</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c417" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentFinancialLiabilities" scale="3" unitRef="eur" id="ixv-65701">137,299</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c40" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentFinancialLiabilities" scale="3" unitRef="eur" id="ixv-65702">356,194</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Changes from financing
    activities</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Repayment of debentures</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">12</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-168; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c419" decimals="-3" format="ixt:num-dot-decimal" name="ello:RepaymentOfDebentures" scale="3" unitRef="eur" id="ixv-65703">19,764</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ello:RepaymentOfDebentures" scale="3" unitRef="eur" id="ixv-65704">19,764</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Receipt of loans</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c418" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="3" unitRef="eur" id="ixv-65705">215,170</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-169; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="3" unitRef="eur" id="ixv-65706">215,170</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Repayment of loans</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c418" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" scale="3" unitRef="eur" id="ixv-65707">153,751</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-170; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" scale="3" unitRef="eur" id="ixv-65708">153,751</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Accrued interest</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c418" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:InterestPaidClassifiedAsFinancingActivities" scale="3" unitRef="eur" id="ixv-65709">2,488</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-171; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:InterestPaidClassifiedAsFinancingActivities" scale="3" unitRef="eur" id="ixv-65710">2,488</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Linkage</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c418" decimals="-3" format="ixt:num-dot-decimal" name="ello:LinkageValueOfLoansAndBorrowings" scale="3" unitRef="eur" id="ixv-65711">2,029</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-172; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ello:LinkageValueOfLoansAndBorrowings" scale="3" unitRef="eur" id="ixv-65712">2,029</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Transaction costs
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    <td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c419" decimals="-3" format="ixt:num-dot-decimal" name="ello:BorrowingsTransactionCosts" scale="3" unitRef="eur" id="ixv-65714">779</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ello:BorrowingsTransactionCosts" scale="3" sign="-" unitRef="eur" id="ixv-65715">3,082</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c418" decimals="-3" format="ixt:num-dot-decimal" name="ello:IssuanceOfCapitalToNonControllingInterest" scale="3" unitRef="eur" id="ixv-65716">3,958</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-173; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ello:IssuanceOfCapitalToNonControllingInterest" scale="3" unitRef="eur" id="ixv-65717">3,958</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c418" decimals="-3" format="ixt:num-dot-decimal" name="ello:CashFlowsFromUsedInFinancingActivities1" scale="3" unitRef="eur" id="ixv-65718">277,012</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c419" decimals="-3" format="ixt:num-dot-decimal" name="ello:CashFlowsFromUsedInFinancingActivities1" scale="3" unitRef="eur" id="ixv-65719">118,314</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ello:CashFlowsFromUsedInFinancingActivities1" scale="3" unitRef="eur" id="ixv-65720">395,326</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Effect
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    <td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c418" decimals="-3" format="ixt:num-dot-decimal" name="ello:EffectOfChangesInForeignExchangeRates" scale="3" sign="-" unitRef="eur" id="ixv-65721">3,149</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c419" decimals="-3" format="ixt:num-dot-decimal" name="ello:EffectOfChangesInForeignExchangeRates" scale="3" sign="-" unitRef="eur" id="ixv-65722">7,886</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ello:EffectOfChangesInForeignExchangeRates" scale="3" sign="-" unitRef="eur" id="ixv-65723">11,035</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Balance as at December
    31, 2022</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c410" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentFinancialLiabilities" scale="3" unitRef="eur" id="ixv-65724">273,863</ix:nonFraction></span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c411" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentFinancialLiabilities" scale="3" unitRef="eur" id="ixv-65725">110,428</ix:nonFraction></span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentFinancialLiabilities" scale="3" unitRef="eur" id="ixv-65726">384,291</ix:nonFraction></span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table></ix:continuation></ix:continuation><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfDebtSecuritiesExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfDebtSecuritiesExplanatory" id="ixv-31121"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
12 - Debentures</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 183pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 35.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="ello_DisclosureOfDetailedInformationAboutDebenturesExplanatory-c0_cont_1" escape="true" name="ello:DisclosureOfDetailedInformationAboutDebenturesExplanatory" id="ixv-31134"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Composed as follows:</b></span></ix:nonNumeric></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:continuation id="ello_DisclosureOfDetailedInformationAboutDebenturesExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">December
    31, 2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">December
    31, 2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Face
    value</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Carrying<br/>
    amount</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Face
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Carrying<br/>
    amount</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
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    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 52%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Debentures</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c468" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="3" unitRef="eur" id="ixv-65727">141,689</ix:nonFraction></span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c469" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="3" unitRef="eur" id="ixv-65728">140,087</ix:nonFraction></span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c470" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="3" unitRef="eur" id="ixv-65729">111,911</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c471" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="3" unitRef="eur" id="ixv-65730">110,428</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Less
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Total
    long-term debentures</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c468" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued" scale="3" unitRef="eur" id="ixv-65735">105,991</ix:nonFraction></span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c469" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued" scale="3" unitRef="eur" id="ixv-65736">104,887</ix:nonFraction></span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c471" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued" scale="3" unitRef="eur" id="ixv-65738">91,714</ix:nonFraction></span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table></ix:continuation>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 35.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Debentures
                                            &#8211; Details</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series
C Debentures</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 25, 2019, the Company issued Series C Debentures due June 30, 2025 in a public offering in Israel in the aggregate principal amount
of NIS <ix:nonFraction contextRef="c420" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="3" unitRef="ils" id="ixv-65739">89,065</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c421" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="3" unitRef="eur" id="ixv-65740">22,690</ix:nonFraction> thousand based on the Euro/NIS exchange rate at that time). The gross proceeds of
the offering were NIS <ix:nonFraction contextRef="c422" decimals="-3" format="ixt:num-dot-decimal" name="ello:GrossProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="ils" id="ixv-65741">89,065</ix:nonFraction> thousand and the net proceeds of the offering, net of related expenses such as consultancy fee and commissions,
were approximately NIS <ix:nonFraction contextRef="c422" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="ils" id="ixv-65742">87,600</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c423" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="eur" id="ixv-65743">22,317</ix:nonFraction> thousand based on the Euro/NIS exchange rate at that time).</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:nonNumeric><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 53; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
12 - Debentures (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 183pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Debentures
                                            &#8211; Details (cont&#8217;d)</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series
C Debentures (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><ix:continuation continuedAt="_DisclosureOfDebtSecuritiesExplanatory-c0_cont_2" id="_DisclosureOfDebtSecuritiesExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
October 26, 2020, the Company completed a public offering in Israel of additional Series C Debenture and a of Series 1 Options (see Note
16A). The Company issued an aggregate principal amount of NIS <ix:nonFraction contextRef="c424" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="3" unitRef="ils" id="ixv-65744">154,000</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c425" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="3" unitRef="eur" id="ixv-65745">38,500</ix:nonFraction> thousand based on the Euro/NIS
exchange rate at that time) of Series C Debentures and <ix:nonFraction contextRef="c426" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="3" unitRef="ils" id="ixv-65746">385,000</ix:nonFraction> Series 1 Options. The gross proceeds from the offering were NIS <ix:nonFraction contextRef="c427" decimals="-3" format="ixt:num-dot-decimal" name="ello:GrossProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="ils" id="ixv-65747">164,200</ix:nonFraction>
thousand (approximately &#8364;<ix:nonFraction contextRef="c428" decimals="-3" format="ixt:num-dot-decimal" name="ello:GrossProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="eur" id="ixv-65748">41,100</ix:nonFraction> thousand based on the Euro/NIS exchange rate at that time) and the net proceeds of the offering,
net of related expenses such as consultancy fee and commissions, were approximately NIS <ix:nonFraction contextRef="c427" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="ils" id="ixv-65749">162,400</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c428" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="eur" id="ixv-65750">40,300</ix:nonFraction>
thousand based on the Euro/NIS exchange rate at that time).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
February 23, 2021, the Company issued additional Series C Debentures in a public offering in Israel in an aggregate principal amount
of NIS <ix:nonFraction contextRef="c429" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="3" unitRef="ils" id="ixv-65751">100,939</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c430" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="3" unitRef="eur" id="ixv-65752">25,442</ix:nonFraction> thousand based on the Euro/NIS exchange rate at that time). The gross proceeds from
the offering were NIS <ix:nonFraction contextRef="c431" decimals="-3" format="ixt:num-dot-decimal" name="ello:GrossProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="ils" id="ixv-65753">102,400</ix:nonFraction> thousand and the net proceeds of the offering, net of related expenses such as consultancy fee and commissions,
were approximately NIS <ix:nonFraction contextRef="c431" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="ils" id="ixv-65754">101,500</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c432" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="eur" id="ixv-65755">25,534</ix:nonFraction> thousand based on the Euro/NIS exchange rate at that time).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
October 2021, the Company issued additional Series C Debentures in an aggregate principal amount of NIS <ix:nonFraction contextRef="c433" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="3" unitRef="ils" id="ixv-65756">120,000</ix:nonFraction> thousand (approximately
&#8364;<ix:nonFraction contextRef="c434" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="3" unitRef="eur" id="ixv-65757">32,100</ix:nonFraction> thousand based on the Euro/NIS exchange rate at that time) to Israeli classified investors in a private placement for an
aggregate gross consideration of approximately NIS <ix:nonFraction contextRef="c435" decimals="-3" format="ixt:num-dot-decimal" name="ello:GrossProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="ils" id="ixv-65758">121,600</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c436" decimals="-3" format="ixt:num-dot-decimal" name="ello:GrossProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="eur" id="ixv-65759">32,529</ix:nonFraction> thousand based on the Euro/NIS exchange
rate at that time), reflecting a price of NIS <span style="-sec-ix-hidden: hidden-fact-176"><ix:nonFraction contextRef="c434" decimals="4" format="ixt:num-dot-decimal" name="ello:DebentureIssuedPerUnitPrice" scale="0" unitRef="ilsPershares" id="ixv-65760">1.0135</ix:nonFraction></span> per NIS 1 principal amount.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
order to manage the currency risk resulting from the Series C Debentures, which are denominated in NIS, the Company executed currency
swap transactions in March 2021. The Company exchanged Series C Debentures NIS denominated notional principal in the aggregate amount
of NIS <ix:nonFraction contextRef="c437" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotionalAmount" scale="3" unitRef="ils" id="ixv-65761">100,000</ix:nonFraction> thousand with a euro notional principal. Such currency swap transactions qualify for hedge accounting. On August 17, 2022,
the currency swap was realized at an exercise price of &#8364;<ix:nonFraction contextRef="c438" decimals="-3" format="ixt:num-dot-decimal" name="ello:AggregateRepaymentOfDebenture" scale="3" unitRef="usd" id="ixv-65762">3,800</ix:nonFraction> thousand.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><ix:nonNumeric contextRef="c439" name="ello:DebenturesPayableTerm" id="ixv-31401"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
principal amount of Series C Debentures is repayable in five (5) unequal annual installments as follows: on June 30, 2021 10% of the
principal shall be paid, on June 30 of each of the years 2022 and 2023, 15% of the principal shall be paid and on June 30 of each of
the years 2024 and 2025, 30% of the principal shall be paid. The Series C Debentures originally bore a fixed interest at the rate of
3.3% per year (that is not linked to the Israeli CPI or otherwise), payable semi-annually on June 30 and December 31 commencing December
31, 2019 through June 30, 2025 (inclusive).</span></ix:nonNumeric></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 6, 2022, the holders of Series C Debentures approved an amendment to the Series C Deed of Trust, which provides for certain revisions
to the financial covenants and for the increase of the annual interest rate payable on the principal of the Series C Debentures by <ix:nonFraction contextRef="c440" decimals="4" format="ixt:num-dot-decimal" name="ello:IncreaseInPercentageOfInterest" scale="-2" unitRef="pure" id="ixv-65763">0.25</ix:nonFraction>%
from <ix:nonFraction contextRef="c441" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65764">3.3</ix:nonFraction>% to <ix:nonFraction contextRef="c442" decimals="4" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65765">3.55</ix:nonFraction>%, commencing on June 6, 2022.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 54; Value: 1 --><div>
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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
12 - Debentures (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Debentures
                                            &#8211; Details (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series
C Debentures (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><ix:continuation continuedAt="_DisclosureOfDebtSecuritiesExplanatory-c0_cont_3" id="_DisclosureOfDebtSecuritiesExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series C Deed of Trust includes customary provisions, including (i) a negative pledge such that the Company may not place a floating
charge on all of the Company&#8217;s assets, subject to certain exceptions and (ii) an obligation to pay additional interest for failure
to maintain certain financial covenants, with an increase of <ix:nonFraction contextRef="c443" decimals="4" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65766">0.25</ix:nonFraction>% for the period in which the Company do not meet each standard and
up to an annual increase of <ix:nonFraction contextRef="c444" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65767">0.5</ix:nonFraction>%. The Series C Deed of Trust does not restrict the Company&#8217;s ability to issue any new series of
debt instruments, other than in certain specific circumstances, and enables us to expand the Series C Debentures provided that: (i) the
Company is not in default of any of the immediate repayment provisions included in the Series C Deed of Trust or in breach of any of
the Company&#8217;s material obligations to the holders of the Series C Debentures pursuant to the terms of the Series C Deed of Trust,
(ii) the expansion will not harm the Company&#8217;s compliance with the financial covenants included in the distribution undertaking
Series C Deed of Trust and (iii) to the extent the Series C Debentures are rated at the time of the expansion, the expansion will not
harm the rating of the existing Series C Debentures.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series C Deed of Trust includes a number of customary causes for immediate repayment, including a default with certain financial covenants
for two consecutive financial quarters, and includes a mechanism for the update of the annual interest rate of the Series C Debentures
in the event the Company does not meet certain financial covenants. The financial covenants are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the Company&#8217;s Adjusted Balance Sheet Equity (as such term is defined in the Series C Deet of Trust, which, among other exclusions, excludes changes in the fair value of hedging transactions of electricity prices, such as the Talasol PPA), on a consolidated basis, shall not be less than &#8364;<ix:nonFraction contextRef="c445" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:Equity" scale="6" unitRef="eur" id="ixv-65768">50</ix:nonFraction> million for purposes of the immediate repayment provision and shall not be less than &#8364;<ix:nonFraction contextRef="c445" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountOfImmediateRepaymentProvision" scale="3" unitRef="eur" id="ixv-65769">60</ix:nonFraction> million for purposes of the update of the annual interest provision;</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The ratio of (a) the short-term and long-term debt from banks, in addition to the debt to holders of debentures issued by us and any other interest-bearing financial obligations, net of cash and cash equivalents and short-term investments and net of financing of projects, including hedging transactions in connection with such financing, of the Company&#8217;s subsidiaries (together, the &#8220;Series C Net Financial Debt&#8221;), to (b) the Company&#8217;s Series C Adjusted Balance Sheet Equity, on a consolidated basis, plus the Net Financial Debt (the &#8220;Series C CAP, Net&#8221; and the &#8220;Series C Ratio of Net Financial Debt to Series C CAP, Net,&#8221; respectively), shall not exceed the rate of <ix:nonFraction contextRef="c446" decimals="3" format="ixt:num-dot-decimal" name="ello:PercentageOfImmediateRepaymentProvision" scale="-2" unitRef="pure" id="ixv-65770">67.5</ix:nonFraction>% for purposes of the immediate repayment provision and shall not exceed a rate of <ix:nonFraction contextRef="c446" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfInterestIncreaseProvision" scale="-2" unitRef="pure" id="ixv-65771">60</ix:nonFraction>% for purposes of the update of the annual interest provision; and</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            ratio of (a) the Series C Net Financial Debt, to (b) the Company&#8217;s earnings before
                                            financial expenses, net, taxes, depreciation and amortization, where the revenues from the
                                            Company&#8217;s operations, such as the Talmei Yosef Plant, are calculated based on the
                                            fixed asset model and not based on the financial asset model (IFRIC 12), and before share-based
                                            payments, based on the aggregate four preceding quarters (the &#8220;Series C Adjusted EBITDA&#8221;
                                            and the &#8220;Series C Ratio of Net Financial Debt to Series C Adjusted EBITDA,&#8221; respectively),
                                            shall not be higher than 12 for purposes of the immediate repayment provision and shall not
                                            be higher than 10 for purposes of the update of the annual interest provision.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
12 - Debentures (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Debentures
                                            &#8211; Details (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series
C Debentures (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><ix:continuation continuedAt="_DisclosureOfDebtSecuritiesExplanatory-c0_cont_4" id="_DisclosureOfDebtSecuritiesExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series C Deed of Trust further provides that the Company may make distributions (as such term is defined in the Companies Law, e.g. dividends),
to the Company&#8217;s shareholders, provided that: (a) the Company will not distribute more than <ix:nonFraction contextRef="c447" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfDistributableProfit" scale="-2" unitRef="pure" id="ixv-65772">75</ix:nonFraction>% of the distributable profit, (b)
the Company will not distribute dividends based on profit due to revaluation (for the removal of doubt, negative goodwill will not be
considered a revaluation profit), (c) the Company is in compliance with all of its material undertakings to the holders of the Series
C Debentures and (d) on the date of distribution and after the distribution no cause for immediate repayment exists. The Company is also
required to maintain the following financial ratios (which are calculated based on the same definitions applicable to the financial covenants
set forth above) after the distribution: (i) Series C Adjusted Balance Sheet Equity not lower than &#8364;<ix:nonFraction contextRef="c448" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:Equity" scale="6" unitRef="eur" id="ixv-65773">70</ix:nonFraction> million, (ii) Series C Ratio
of Net Financial Debt to Series C CAP, Net not to exceed <ix:nonFraction contextRef="c449" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfEquityOnConsolidatedBasis" scale="-2" unitRef="pure" id="ixv-65774">60</ix:nonFraction>%, and (iii) Series C Ratio of Net Financial Debt to Series C Adjusted EBITDA,
shall not be higher than 8, and not to make distributions if the Company do not meet all of its material obligations to the holders of
the Series C Debentures and if on the date of distribution and after the distribution a cause for immediate repayment exists.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the financial covenants were met.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series
D Convertible Debentures</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
February 23, 2021, the Company issued new Series D Convertible Debentures in a public offering in Israel in the aggregate principal amount
of NIS <ix:nonFraction contextRef="c450" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="3" unitRef="ils" id="ixv-65775">62,000</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c451" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="3" unitRef="eur" id="ixv-65776">15,627</ix:nonFraction> thousand based on the Euro/NIS exchange rate at that time). <ix:nonNumeric contextRef="c452" name="ello:DebenturesPayableTerm" id="ixv-65777">The principal amount of
the Series D Convertible Debentures is repayable in one installment on December 31, 2026. The Series D Convertible Debentures bear a
fixed interest at the rate of <ix:nonFraction contextRef="c451" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65778">1.2</ix:nonFraction>% per year (that is not linked to the Israeli CPI or otherwise), payable semi-annually on June 30 and
December 31 commencing June 30, 2021, through December 31, 2026 (inclusive).</ix:nonNumeric> The Series D Convertible Debentures are convertible into
the Company&#8217;s ordinary shares, NIS <ix:nonFraction contextRef="c450" decimals="2" format="ixt:num-dot-decimal" name="ello:DebenturesConvertibleIntoOrdinarySharesParValuePerShare" scale="0" unitRef="ilsPershares" id="ixv-65779">10.00</ix:nonFraction> par value per share, at a conversion price of NIS <ix:nonFraction contextRef="c450" decimals="0" format="ixt:num-dot-decimal" name="ello:DebtInstrumentConversionPrice" scale="0" unitRef="ilsPershares" id="ixv-65780">165</ix:nonFraction> (approximately &#8364;<ix:nonFraction contextRef="c451" decimals="1" format="ixt:num-dot-decimal" name="ello:DebtInstrumentConversionPrice" scale="0" unitRef="eurPershares" id="ixv-65781">41.6</ix:nonFraction> based
on the Euro/NIS exchange rate at that time), subject to adjustments upon customary terms. The Series D Convertible Debentures are not
rated. The gross proceeds from the offering were approximately NIS <ix:nonFraction contextRef="c453" decimals="-3" format="ixt:num-dot-decimal" name="ello:GrossProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="ils" id="ixv-65782">62,600</ix:nonFraction> thousand and the net proceeds of the offering, net of related
expenses such as consultancy fee and commissions, were approximately NIS <ix:nonFraction contextRef="c453" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="ils" id="ixv-65783">61,800</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c454" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="3" unitRef="eur" id="ixv-65784">15,577</ix:nonFraction> thousand based on
the Euro/NIS exchange rate at that time). Of the total proceeds, an amount NIS <ix:nonFraction contextRef="c450" decimals="-3" format="ixt:num-dot-decimal" name="ello:LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt" scale="3" unitRef="ils" id="ixv-65785">7,504</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c451" decimals="-3" format="ixt:num-dot-decimal" name="ello:LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt" scale="3" unitRef="eur" id="ixv-65786">1,890</ix:nonFraction> thousand based
on the Euro/NIS exchange rate at that time) was recognized in Other long-term liabilities in connection with the convertible component.
As of December 31, 2023, the amount of the liability was &#8364;<ix:nonFraction contextRef="c455" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Liabilities" scale="3" unitRef="eur" id="ixv-65787">82</ix:nonFraction> thousand.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series D Deed of Trust includes customary provisions, including (i) a negative pledge such that the Company may not place a floating
charge on all of the Company assets, subject to certain exceptions and (ii) an obligation to pay additional interest for failure to maintain
certain financial covenants, with an increase of <ix:nonFraction contextRef="c456" decimals="4" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65788">0.25</ix:nonFraction>% in the annual interest rate for the period in which the Company do not meet each
standard and up to an increase of <ix:nonFraction contextRef="c454" decimals="4" format="ixt:num-dot-decimal" name="ello:DecreaseInAnnualInterestRateForDebentures" scale="-2" unitRef="pure" id="ixv-65789">0.75</ix:nonFraction>% in the annual interest rate.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
12 - Debentures (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Debentures
                                            &#8211; Details (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series
D Convertible Debentures (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><ix:continuation continuedAt="_DisclosureOfDebtSecuritiesExplanatory-c0_cont_5" id="_DisclosureOfDebtSecuritiesExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series D Deed of Trust does not restrict the Company ability to issue any new series of debt instruments, other than in certain specific
circumstances, and enables us to expand the Series D Convertible Debentures up to an aggregate par value of NIS <ix:nonFraction contextRef="c454" decimals="-6" format="ixt:num-dot-decimal" name="ello:AmountOfExpansionOfAggregateParValueOfDebentures" scale="6" unitRef="ils" id="ixv-65790">200</ix:nonFraction> million provided
that: (i) The Company is not in default of any of the immediate repayment provisions included in the Series D Deed of Trust or in breach
of any of its material obligations to the holders of the Series D Convertible Debentures pursuant to the terms of the Series D Deed of
Trust, (ii) the expansion will not harm the Company compliance with the financial covenants included in the distribution undertaking
Series D Deed of Trust and (iii) to the extent the Series D Convertible Debentures are rated at the time of the expansion, the expansion
will not harm the rating of the existing Series D Convertible Debentures.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series D Deed of Trust includes a number of customary causes for immediate repayment, including a default with certain financial covenants
for the applicable period, and includes a mechanism for the update of the annual interest rate of the Series D Convertible Debentures
in the event the Company do not meet certain financial covenants. The financial covenants are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company Adjusted Balance Sheet Equity (as such term is defined in the Series D Deed of Trust, which, among other exclusions, excludes changes in the fair value of hedging transactions of electricity prices, such as the Talasol PPA), on a consolidated basis, shall not be less than &#8364;<ix:nonFraction contextRef="c451" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:Equity" scale="6" unitRef="eur" id="ixv-65791">70</ix:nonFraction> million for two consecutive quarters for purposes of the immediate repayment provision and shall not be less than &#8364;<ix:nonFraction contextRef="c451" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountOfImmediateRepaymentProvision" scale="3" unitRef="eur" id="ixv-65792">75</ix:nonFraction> million for purposes of the update of the annual interest provision;</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr> </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The ratio of (a) the short-term and long-term debt from banks, in addition to the debt to holders of debentures issued by us and any other interest-bearing financial obligations provided by entities who are in the business of lending money (excluding financing of projects and other exclusions as set forth in the Series D Deed of Trust), net of cash and cash equivalents, short-term investments, deposits, financial funds and negotiable securities, to the extent that these are not restricted (with the exception of a restriction for the purpose of securing any financial debt according to this definition) (together, the &#8220;Series D Net Financial Debt&#8221;), to (b) The Series D Adjusted Balance Sheet Equity, on a consolidated basis, plus the Series D Net Financial Debt (the &#8220;Series D CAP, Net&#8221; and the &#8220;Series D Ratio of Net Financial Debt to Series D CAP, Net,&#8221; respectively), shall not exceed the rate of <ix:nonFraction contextRef="c457" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfImmediateRepaymentProvision" scale="-2" unitRef="pure" id="ixv-65793">68</ix:nonFraction>% for three consecutive quarters for purposes of the immediate repayment provision and shall not exceed a rate of <ix:nonFraction contextRef="c457" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfInterestIncreaseProvision" scale="-2" unitRef="pure" id="ixv-65794">60</ix:nonFraction>% for purposes of the updated of the annual interest provision; and</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr> </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">3.</td><td style="text-align: justify">The ratio of (a) the Series D Net Financial Debt, to (b) the Company earnings before financial expenses,
net, taxes, depreciation and amortization, where the revenues from its operations, such as the Talmei Yosef Plant, are calculated based
on the fixed asset model and not based on the financial asset model (IFRIC 12), and before share-based payments, when the data of assets
or projects whose Commercial Operation Date occurred in the four quarters that preceded the test date will be calculated based on Annual
Gross Up (as such terms are defined in the Series D Deed of Trust), based on the aggregate four preceding quarters (the &#8220;Series
D Adjusted EBITDA&#8221; and the &#8220;Series D Ratio of Net Financial Debt to Series D Adjusted EBITDA,&#8221; respectively), shall
not be higher than 14 for purposes of the immediate repayment provision and shall not be higher than 12 for purposes of the update of
the annual interest provision.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:continuation><div>
</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
12 - Debentures (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Debentures
                                            &#8211; Details (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series
D Convertible Debentures (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><ix:continuation continuedAt="_DisclosureOfDebtSecuritiesExplanatory-c0_cont_6" id="_DisclosureOfDebtSecuritiesExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series D Deed of Trust includes similar conditions to the Company ability to make distributions (as such term is defined in the Companies
Law, e.g. dividends), to the Company shareholders as are included in the Series C Deed of Trust and set forth above. The Company is also
required to maintain the following financial ratios (which are calculated based on the same definitions applicable to the financial covenants
set forth above) after the distribution: (i) Series D Adjusted Balance Sheet Equity not lower than &#8364;<ix:nonFraction contextRef="c458" decimals="-6" format="ixt:num-dot-decimal" name="ello:AmountOfAdjustmentOfBalanceSheetEquity" scale="6" unitRef="usd" id="ixv-65795">85</ix:nonFraction> million, (ii) Series D Ratio
of Series D Net Financial Debt to Series D CAP, Net not to exceed <ix:nonFraction contextRef="c458" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfEquityOnConsolidatedBasis" scale="-2" unitRef="pure" id="ixv-65796">60</ix:nonFraction>%, and (iii) Series D Ratio of Series D Net Financial Debt to Series
D Adjusted EBITDA, shall not be higher than 9, and not to make distributions if the Company do not meet all of the Company material obligations
to the holders of the Series D Convertible Debentures and if on the date of distribution and after the distribution a cause for immediate
repayment exists.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the financial covenants were met.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series
E Debentures</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On February 1, 2023, the Company issued
NIS <ix:nonFraction contextRef="c459" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="6" unitRef="ils" id="ixv-65797">220</ix:nonFraction> million (approximately &#8364;<ix:nonFraction contextRef="c459" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="6" unitRef="eur" id="ixv-65798">58.5</ix:nonFraction> million based on the Euro/NIS exchange rate at that time) of the Series E Secured Debentures,
due March 31, 2029, through a public offering in Israel. The net proceeds of the offering, net of related expenses such as consultancy
fee and commissions, were approxim<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ately NIS <ix:nonFraction contextRef="c460" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="6" unitRef="ils" id="ixv-65799">218</ix:nonFraction> million (approximately
&#8364;<ix:nonFraction contextRef="c460" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="6" unitRef="eur" id="ixv-65800">56</ix:nonFraction> million based on the Euro/NIS exchange rate at that time). The Series E Debentures are secured by the following pledges:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">i.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a fixed pledge first degree on shares of Ellomay Luzon Energy held by Ellomay Energy LP, representing a <ix:nonFraction contextRef="c461" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" scale="-2" unitRef="pure" id="ixv-65801">50</ix:nonFraction>% ownership of Ellomay Luzon Energy, which holds <ix:nonFraction contextRef="c462" decimals="4" format="ixt:num-dot-decimal" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" scale="-2" unitRef="pure" id="ixv-65802">18.75</ix:nonFraction>% of Dorad;</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr> </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
                                            floating first-degree pledge and an assignment by way of a pledge of, and with respect to,
                                            Ellomay Energy LP&#8217;s rights and agreements in connection with shareholder&#8217;s loans
                                            and capital notes provided by Ellomay Energy LP to Ellomay Luzon Energy; and</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
                                                                                                                                         </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iii.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
                                            fixed first-degree pledge on the Company rights and the rights of Ellomay Energy LP in and
                                            to a trust bank account in the name of the trustee of the Series E Secured Debentures.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
principal amount of Series E Secured Debentures is repayable in four equal installments on March 31 from 2026 through 2029 (inclusive).
The Series E Secured Debentures bear a fixed interest at the rate of <ix:nonFraction contextRef="c459" decimals="4" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingsInterestRate" scale="-2" unitRef="pure" id="ixv-65803">6.05</ix:nonFraction>% per year (that is not linked to the Israeli CPI or otherwise),
payable semi-annually on March 31 and September 30, commencing March 31, 2023 through March 31, 2029 (inclusive).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series E Deed of Trust includes customary provisions, including (i) a negative pledge such that the Company may not place a floating
charge on all of its assets, subject to certain exceptions and (ii) an obligation to pay additional interest for failure to maintain
certain financial covenants, with an increase of <ix:nonFraction contextRef="c463" decimals="4" format="ixt:num-dot-decimal" name="ello:IncreaseInPercentageOfInterest" scale="-2" unitRef="pure" id="ixv-65804">0.25</ix:nonFraction>% in the annual interest rate for the period in which the Company do not meet each
standard and up to an increase of <ix:nonFraction contextRef="c464" decimals="4" format="ixt:num-dot-decimal" name="ello:IncreaseInPercentageOfInterest" scale="-2" unitRef="pure" id="ixv-65805">0.75</ix:nonFraction>% in the annual interest rate. The Series E Deed of Trust does not restrict the Company ability
to issue any new series of debt instruments, other than in certain specific circumstances, and enables us to expand the Series E Secured
Debentures provided that: (i) The Company is not in default of any of the immediate repayment provisions included in the Series E Deed
of Trust or in breach of any of its material obligations to the holders of the Series E Secured Debentures pursuant to the terms of the
Series E Deed of Trust, (ii) the expansion will not harm its compliance with the financial covenants for purposes of the immediate repayment
provision included in the Series E Deed of Trust, (iii) to the extent the Series E Secured Debentures are rated at the time of the expansion,
the expansion will not harm the rating of the existing Series E Secured Debentures and (iv) the par value of the Series E Secured Debentures
may not be higher than NIS 220 million following the expansion.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
12 - Debentures (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Debentures
                                            &#8211; Details (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series
E Debentures (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><ix:continuation continuedAt="_DisclosureOfDebtSecuritiesExplanatory-c0_cont_7" id="_DisclosureOfDebtSecuritiesExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series E Deed of Trust includes a number of customary causes for immediate repayment, including a default with certain financial covenants
for the applicable period, and as noted above a mechanism for the update of the annual interest rate in the event the Company do not
meet certain financial covenants. The financial covenants are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">a.</td><td style="text-align: justify">The Company Series E Adjusted Balance Sheet Equity (as such term is defined in the Series E Deed of Trust,
which, among other exclusions, excludes changes in the fair value of hedging transactions of electricity prices, such as the Talasol PPA),
on a consolidated basis, shall not be less than &#8364;<ix:nonFraction contextRef="c459" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:Equity" scale="6" unitRef="eur" id="ixv-65806">75</ix:nonFraction> million for two consecutive quarters for purposes of the immediate repayment
provision and shall not be less than &#8364;<ix:nonFraction contextRef="c459" decimals="0" format="ixt:num-dot-decimal" name="ello:AmountOfImmediateRepaymentProvision" scale="0" unitRef="eur" id="ixv-65807">80</ix:nonFraction> million for purposes of the update of the annual interest provision;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
                                                                                                                     </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The ratio of (a) the short-term and long-term debt from banks, in addition to the debt to holders of debentures issued by us and any other interest-bearing financial obligations provided by entities who are in the business of lending money (excluding financing of projects and other exclusions as set forth in the Series E Deed of Trust), net of cash and cash equivalents, short-term investments, deposits, financial funds and negotiable securities, to the extent that these are not restricted (with the exception of a restriction for the purpose of securing any financial debt according to this definition), or, together, the Series E Net Financial Debt, to (b) the Company Series E Adjusted Balance Sheet Equity, on a consolidated basis, plus the Series E Net Financial Debt, or the Company Series E CAP, Net (the &#8220;Series E Ratio of Net Financial Debt to Series E CAP, Net&#8221;), shall not exceed the rate of <ix:nonFraction contextRef="c465" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfImmediateRepaymentProvision" scale="-2" unitRef="pure" id="ixv-65808">65</ix:nonFraction>% for three consecutive quarters for purposes of the immediate repayment provision and shall not exceed a rate of <ix:nonFraction contextRef="c465" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfInterestIncreaseProvision" scale="-2" unitRef="pure" id="ixv-65809">60</ix:nonFraction>% for purposes of the update of the annual interest provision; and</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr> </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            ratio of (a) the Company Series E Net Financial Debt, to (b) the Company earnings before
                                            financial expenses, net, taxes, depreciation and amortization, where the revenues from the
                                            Company operations, such as the Talmei Yosef PV Plant, are calculated based on the fixed
                                            asset model and not based on the financial asset model (IFRIC 12), and before share-based
                                            payments, when the data of assets or projects whose Commercial Operation Date occurred in
                                            the four quarters that preceded the test date will be calculated based on Annual Gross Up
                                            (as such terms are defined in the Series E Deed of Trust), based on the aggregate four preceding
                                            quarters, or the Company Series E Adjusted EBITDA (the &#8220;Series E Ratio of Net Financial
                                            Debt to Series E Adjusted EBITDA&#8221;), shall not be higher than 12 for three consecutive
                                            quarters for purposes of the immediate repayment provision and shall not be higher than 11
                                            for purposes of the update of the annual interest provision.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series E Deed of Trust further provides that the Company may make distributions (as such term is defined in the Companies Law, e.g. dividends),
to its shareholders, provided that: (a) the Company will not distribute more than <ix:nonFraction contextRef="c459" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfDistributableProfit" scale="-2" unitRef="pure" id="ixv-65810">60</ix:nonFraction>% of the distributable profit, (b) the Company will
not distribute dividends based on profit due to revaluation (for the removal of doubt, negative goodwill will not be considered a revaluation
profit), (c) the Company are in compliance with all of its material undertakings to the holders of the Series E Secured Debentures, (d)
on the date of distribution and after the distribution no cause for immediate repayment exists and (e) the Company will not make a distribution
for as long as a &#8220;warning sign&#8221; (as such term is defined in the Israeli Securities Regulations) exists.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 59; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
12 - Debentures (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Debentures
                                            &#8211; Details (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series
E Debentures (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><ix:continuation id="_DisclosureOfDebtSecuritiesExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company is also required to maintain the following financial ratios (which are calculated based on the same definitions applicable to
the financial covenants set forth above) after the distribution: (i) Series E Adjusted Balance Sheet Equity not lower than &#8364;<ix:nonFraction contextRef="c466" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:Equity" scale="6" unitRef="eur" id="ixv-65811">90</ix:nonFraction> million,
(ii) Series E Ratio of Net Financial Debt to Series E CAP, Net not to exceed <ix:nonFraction contextRef="c467" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfEquityOnConsolidatedBasis" scale="-2" unitRef="pure" id="ixv-65812">60</ix:nonFraction>%, and (iii) Series E Ratio of Net Financial Debt to Series
E Adjusted EBITDA, shall not be higher than 9, and not to make distributions if the Company do not meet all of its material obligations
to the holders of the Series E Secured Debentures and if on the date of distribution and after the distribution a cause for immediate
repayment exists.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the financial covenants were met.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td><td style="text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="ello_DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures-c0_cont_1" escape="true" name="ello:DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures" id="ixv-31964"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The aggregate annual maturities are as follows:</b></span></ix:nonNumeric></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<ix:continuation id="ello_DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Second year</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c472" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:LongtermBorrowings" scale="3" unitRef="eur" id="ixv-65813">35,212</ix:nonFraction></span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c473" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:LongtermBorrowings" scale="3" unitRef="eur" id="ixv-65814">37,779</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Third year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c474" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:LongtermBorrowings" scale="3" unitRef="eur" id="ixv-65815">28,692</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c475" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:LongtermBorrowings" scale="3" unitRef="eur" id="ixv-65816">37,792</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Fourth year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c476" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:LongtermBorrowings" scale="3" unitRef="eur" id="ixv-65817">13,625</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c477" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:LongtermBorrowings" scale="3" unitRef="eur" id="ixv-65818">16,143</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Fifth year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c478" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:LongtermBorrowings" scale="3" unitRef="eur" id="ixv-65819">13,657</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-174; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Sixth year and thereafter</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c480" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:LongtermBorrowings" scale="3" unitRef="eur" id="ixv-65820">13,701</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-175; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:LongtermBorrowings" scale="3" unitRef="eur" id="ixv-65822">91,714</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued" scale="3" unitRef="eur" id="ixv-65823">35,200</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  </table></ix:continuation></ix:continuation><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory" id="ixv-32186"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
13 - Other Long-term Liabilities</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:nonNumeric contextRef="c0" continuedAt="ello_DisclosureOfDetailedInformationAboutOtherLongTermLiabilitiesExplanatory-c0_cont_1" escape="true" name="ello:DisclosureOfDetailedInformationAboutOtherLongTermLiabilitiesExplanatory" id="ixv-32193"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Warrants Liability (see Note 16)</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:WarrantLiability" scale="3" unitRef="eur" id="ixv-65828">329</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Other liabilities<sup>(1)</sup></span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" id="ix_84_fact" name="ifrs-full:OtherLiabilities" scale="3" unitRef="eur">793</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" id="ix_85_fact" name="ifrs-full:OtherLiabilities" scale="3" unitRef="eur">1,626</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Liabilities for employee&#8217;s
    benefits</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentProvisionsForEmployeeBenefits" scale="3" unitRef="eur" id="ixv-65831">62</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentProvisionsForEmployeeBenefits" scale="3" unitRef="eur" id="ixv-65832">66</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:OtherNoncurrentFinancialLiabilities" scale="3" unitRef="eur" id="ixv-65833">939</ix:nonFraction></span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:OtherNoncurrentFinancialLiabilities" scale="3" unitRef="eur" id="ixv-65834">2,021</ix:nonFraction></span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table></ix:nonNumeric>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></p>

<ix:continuation id="ello_DisclosureOfDetailedInformationAboutOtherLongTermLiabilitiesExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left"><sup>(1)</sup></td><td style="text-align: justify"><ix:footnote id="ix_5_footnote" xml:lang="en-US">Represents the long-term portion of the potential liability
in connection with the acquisition of rights in the Manara PSP. See Note 6B.</ix:footnote></td>
</tr></table></ix:continuation></ix:nonNumeric><div>

</div><p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></p><div>

</div><!-- Field: Page; Sequence: 60; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfLeasesExplanatory" id="ixv-32349"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
14 - Leases</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Leases
in which the Company is the lessee</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has lease agreements with respect to the following items:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lands;
                                            and</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
                                                                </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Machinery
                                            equipment.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Information
                                            regarding material lease agreements</b></span></td></tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2cm; text-align: justify">Ellomay PS leases land in Israel from
private lessors for a period of <ix:nonNumeric contextRef="c482" name="ello:OperatingLeaseAgreementTerm" id="ixv-65836">24 years and 11 months</ix:nonNumeric>, on which the Manara PSP is constructed. The contractual period of the aforesaid
lease agreements ends in <ix:nonNumeric contextRef="c482" name="ello:LeaseExpireDates" id="ixv-65837">July 2046</ix:nonNumeric>. Ellomay PS paid capitalized rents in the total amount of NIS <ix:nonFraction contextRef="c482" decimals="-3" format="ixt:num-dot-decimal" name="ello:CapitalizedRent" scale="3" unitRef="ils" id="ixv-65838">28,800</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c482" decimals="-3" format="ixt:num-dot-decimal" name="ello:CapitalizedRent" scale="3" unitRef="eur" id="ixv-65839">7,758</ix:nonFraction>
thousand) to the private lessors, not including VAT. The discounted rent is linked to the Israeli CPI and constitutes an advance payment
for the entire rental period. In addition, Ellomay PS will pay a regular quarterly rent of approximately NIS <ix:nonFraction contextRef="c482" decimals="-3" format="ixt:num-dot-decimal" name="ello:QuarterlyRent" scale="3" unitRef="ils" id="ixv-65840">165</ix:nonFraction> thousand per quarter,
not including VAT. The quarterly rent will increase by <ix:nonFraction contextRef="c0" decimals="2" format="ixt:num-dot-decimal" name="ello:RentPercentage" scale="-2" unitRef="pure" id="ixv-65841">2</ix:nonFraction>% every <ix:nonNumeric contextRef="c2" format="ixt-sec:duryear" name="ello:RentalTerms" id="ixv-65842">3</ix:nonNumeric> years and is linked to the Israeli CPI. A lease liability in the amount
of &#8364;<ix:nonFraction contextRef="c483" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:LeaseLiabilities" scale="3" unitRef="eur" id="ixv-65843">10,629</ix:nonFraction> thousand and right-of-use asset in the amount of &#8364;<ix:nonFraction contextRef="c483" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RightofuseAssets" scale="3" unitRef="eur" id="ixv-65844">10,629</ix:nonFraction> thousand have been recognized in the statement of financial
position in April 2021 in respect of the Manara PSP&#8217;s leases of land.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Information
                                            regarding material lease agreements entered into during the period</b></span></td></tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay
Solar Italy Seven SRL and Ellomay Solar Italy Nine SRL lease land in Italy from private lessors for a period of <ix:nonNumeric contextRef="c484" name="ello:OperatingLeaseAgreementTerm" id="ixv-65845">31 years</ix:nonNumeric>. The contractual
period of the aforesaid lease agreements ends between March 2054 until May 2054. They will pay a regular annual rent of approximately
&#8364;<ix:nonFraction contextRef="c484" decimals="-3" format="ixt:num-dot-decimal" name="ello:PaymentToLeaseLiability" scale="3" unitRef="eur" id="ixv-65846">208</ix:nonFraction> thousand, not including VAT and capitalized rents in the total amount of &#8364;<ix:nonFraction contextRef="c484" decimals="-3" format="ixt:num-dot-decimal" name="ello:CapitalizedRent" scale="3" unitRef="eur" id="ixv-65847">397</ix:nonFraction> thousand. The annual rent is linked to the
Italian CPI. A lease liability in the amount of &#8364;<ix:nonFraction contextRef="c485" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:LeaseLiabilities" scale="3" unitRef="eur" id="ixv-65848">2,527</ix:nonFraction> thousand and right-of-use asset in the amount of &#8364;<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:PaymentToLeaseLiability" scale="3" unitRef="eur" id="ixv-65849">2,527</ix:nonFraction> thousand have
been recognized in 2023 in respect of these leases of land.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fairfield
Solar LLC, Mexia Solar I LLC, Mexia Solar II LLC, Malakoff Solar I LLC, Malakoff Solar II LLC, and Talco Solar LLC lease land in the
vicinity of Texas, Dallas, USA from private lessors for <ix:nonNumeric contextRef="c486" name="ello:OperatingLeaseAgreementTerm" id="ixv-65850">25-35 years</ix:nonNumeric>. The contractual period of the aforesaid lease agreements ends between
February 2048 and September 2058. They will pay a regular annual rent of approximately &#8364;<ix:nonFraction contextRef="c486" decimals="-3" format="ixt:num-dot-decimal" name="ello:AnnualRent" scale="3" unitRef="eur" id="ixv-65851">207</ix:nonFraction> thousand, not including VAT, commencing
the beginning of operations. The annual rent increases by <ix:nonFraction contextRef="c0" decimals="3" format="ixt:num-dot-decimal" name="ello:AnnualRentIncreasesPercentage" scale="-2" unitRef="pure" id="ixv-65852">2.0</ix:nonFraction>% every year. A lease liability in the amount of &#8364;<ix:nonFraction contextRef="c487" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:LeaseLiabilities" scale="3" unitRef="eur" id="ixv-65853">2,142</ix:nonFraction> thousand and
right-of-use asset in the amount of &#8364;<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:RightofuseAsset" scale="3" unitRef="eur" id="ixv-65854">2,142</ix:nonFraction> thousand have been recognized in 2023 in respect of these leases of land.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:nonNumeric><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 61; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
14 - Leases (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><ix:continuation continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_2" id="_DisclosureOfLeasesExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" id="ixv-32464"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Right-of-use assets</b></span></ix:nonNumeric></td></tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<ix:continuation continuedAt="_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory-c0_cont_2" id="_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bio
                                            Gas</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Spain</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Talasol</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Pumped<br/>
    storage</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>USA</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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                                            </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Yosef</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; width: 20%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Balance
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    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c493" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RightofuseAssets" scale="3" unitRef="eur" id="ixv-65856">8,733</ix:nonFraction></span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c494" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RightofuseAssets" scale="3" unitRef="eur" id="ixv-65857">2,314</ix:nonFraction></span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c498" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RightofuseAssets" scale="3" unitRef="eur" id="ixv-65860">1,331</ix:nonFraction></span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Lease
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    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-178; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c501" decimals="-3" format="ixt:num-dot-decimal" name="ello:LeaseAgreementsRightOfUseAssets" scale="3" unitRef="eur" id="ixv-65862">2,527</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:continuation id="_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    storage</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c521" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RightofuseAssets" scale="3" unitRef="eur" id="ixv-65896">1,503</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 62; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
14 - Leases (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><ix:continuation id="_DisclosureOfLeasesExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Lease
                                            liability</b></span></td></tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory" id="ixv-33543"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Maturity
analysis of the Company&#8217;s lease liabilities</b></span></ix:nonNumeric></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<ix:continuation id="_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">December&#160;31,<br/>
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;&#160;in&#160;thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </table></ix:continuation>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Additional
                                            information on leases</b></span></td></tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(a)</b></span></td><td style="text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory" id="ixv-33656"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amounts recognized in profit or loss</b></span></ix:nonNumeric></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>



<ix:continuation continuedAt="_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory-c0_cont_2" id="_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Interest expenses on lease
    liability</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" id="ix_89_fact" name="ifrs-full:InterestExpenseOnLeaseLiabilities" scale="3" unitRef="eur">407</ix:nonFraction></span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" id="ix_90_fact" name="ifrs-full:InterestExpenseOnLeaseLiabilities" scale="3" unitRef="eur">370</ix:nonFraction></span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" id="ix_91_fact" name="ifrs-full:InterestExpenseOnLeaseLiabilities" scale="3" unitRef="eur">367</ix:nonFraction></span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table></ix:continuation>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<ix:continuation id="_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><ix:footnote id="ix_6_footnote" xml:lang="en-US"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
remainder of the depreciation and the interest is capitalized to fixed assets.</span></ix:footnote></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Including
the amounts of &#8364;<ix:nonFraction contextRef="c488" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:DepreciationExpense" scale="3" unitRef="eur" id="ixv-65933">111</ix:nonFraction> thousand, &#8364;<ix:nonFraction contextRef="c489" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:DepreciationExpense" scale="3" unitRef="eur" id="ixv-65934">117</ix:nonFraction> thousand and &#8364;<ix:nonFraction contextRef="c490" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:DepreciationExpense" scale="3" unitRef="eur" id="ixv-65935">110</ix:nonFraction> thousand recorded in the depreciation expenses that were presented
as a discontinued operation and classified as held for sale for 2023, 2022 and 2021, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Including
the amounts of &#8364;<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:InterestExpenseOnLeaseLiabilities" scale="3" unitRef="ils" id="ixv-65936">66</ix:nonFraction> thousand, &#8364;<ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:InterestExpenseOnLeaseLiabilities" scale="3" unitRef="ils" id="ixv-65937">74</ix:nonFraction> thousand and &#8364;<ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:InterestExpenseOnLeaseLiabilities" scale="3" unitRef="ils" id="ixv-65938">73</ix:nonFraction> thousand recorded in the interest expenses on lease liability that were
presented as a discontinued operation and classified as held for sale for 2023, 2022 and 2021, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(b)</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Short-term
                                            leases</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
mentioned in Note 3F regarding material accounting policies, the Company, in accordance with the practical expedient, accounts for short-term
leases and leases of low-value assets as expenses on a straight-line basis over the lease term, instead of a right-of-use asset and lease
liability. These leases include office space in the amount of approximately &#8364;<ix:nonFraction contextRef="c491" decimals="-3" format="ixt:num-dot-decimal" name="ello:PaymentToLeaseLiability" scale="3" unitRef="eur" id="ixv-65939">262</ix:nonFraction> thousand.</span></p></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 63; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfRelatedPartyExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfRelatedPartyExplanatory" id="ixv-33810"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
15 - Transactions and Balances with Related Parties</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 30, 2008, the Company&#8217;s shareholders approved the terms of a management services agreement entered into among the Company, Kanir Joint Investments (2005) Limited Partnership (&#8220;Kanir&#8221;), the one of the Company&#8217;s controlling shareholders, and Meisaf Blue &amp; White Holdings Ltd. (&#8220;Meisaf&#8221;), a company controlled by the Company&#8217;s chairman of the board and controlling shareholder, effective as of March 31, 2008 (the &#8220;Previous Management Agreement&#8221;). The aggregate annual management fee under the Previous Management Agreement, as updated, was $<ix:nonFraction contextRef="c533" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ServicesReceivedRelatedPartyTransactions" scale="3" unitRef="usd" id="ixv-65940">400</ix:nonFraction> thousand.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
the annual shareholders meeting held on August 12, 2021, the Company&#8217;s shareholders approved, following the approval by the Audit
and Compensation Committee and Board of Directors, an Amended and Restated Management Services Agreement, effective July 1, 2021 (the
&#8220;Management Agreement&#8221;), which provides, among other things, for the payment of NIS <ix:nonFraction contextRef="c534" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ServicesReceivedRelatedPartyTransactions" scale="3" unitRef="ils" id="ixv-65941">1,386</ix:nonFraction> thousand, (approximately &#8364;<ix:nonFraction contextRef="c534" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ServicesReceivedRelatedPartyTransactions" scale="3" unitRef="eur" id="ixv-65942">345</ix:nonFraction>
thousand) per year to Meisaf in consideration for the services provided by Meisaf, including the service of Mr. Nehama as the Company
Chairman of the Board in no less than a 77% position, and the payment of NIS <ix:nonFraction contextRef="c535" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:ServicesReceivedRelatedPartyTransactions" scale="6" unitRef="ils" id="ixv-65943">1,800</ix:nonFraction> million (approximately &#8364;<ix:nonFraction contextRef="c535" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ServicesReceivedRelatedPartyTransactions" scale="3" unitRef="eur" id="ixv-65944">449</ix:nonFraction> thousand) per year
to Kanir and Keystone R.P. Holdings and Investments Ltd., a private company wholly-owned by Mr. Ran Fridrich (&#8220;Keystone&#8221;)
(in an initial allocation of NIS <ix:nonFraction contextRef="c536" decimals="-4" format="ixt:num-dot-decimal" name="ifrs-full:ServicesReceivedRelatedPartyTransactions" scale="6" unitRef="ils" id="ixv-65945">0.66</ix:nonFraction> million to Kanir and NIS <ix:nonFraction contextRef="c537" decimals="-4" format="ixt:num-dot-decimal" name="ifrs-full:ServicesReceivedRelatedPartyTransactions" scale="6" unitRef="ils" id="ixv-65946">1.14</ix:nonFraction> million to Keystone) in consideration for service provided by these
entities, including the service of Mr. Fridrich as the Company Chief Executive Officer in a full-time position and as a Board member.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the Management Agreement, Meisaf, Kanir and Keystone, through their employees, officers and directors, will assist the Company in
all aspects of the management of the Company and advise as required from time to time by the Company, including provision of Chairman,
CEO and Board services as detailed above. The Management Agreement is valid until June 30, 2024 or until its earlier termination in accordance
with its terms.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company sub-leases a small part of its office space to a company controlled by Mr. Shlomo Nehama, the Company&#8217;s chairman of the
Board and a controlling shareholder, at a price per square meter based on the price that it pays under its lease agreements. This sub-lease
agreement was approved by the Company&#8217;s Board of Directors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company employs the son of Mr.
Shlomo Nehama as a project manager in connection with the development activities of photovoltaic plants in Texas, USA. The annual cost
of employment of Mr. Nehama&#8217;s son, for the year ended December 31, 2023, as approved by the Company&#8217;s shareholders, is approximately
NIS <ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:CompanysShareholders" scale="3" unitRef="ils" id="ixv-65947">239</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:CompanysShareholders" scale="3" unitRef="eur" id="ixv-65948">60</ix:nonFraction>&#160;thousand).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Compensation
                                            to key management personnel and interested parties (including directors)</b></span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
directors and officers participate in the Company&#8217;s share option programs. For further information see Note 17 regarding share-based
payments.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p></ix:continuation></ix:nonNumeric><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->63<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
15 - Transactions and Balances with Related Parties (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Compensation
                                            to key management personnel and interested parties (including directors) (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><ix:continuation id="_DisclosureOfRelatedPartyExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="ello_DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory-c0_cont_1" escape="true" name="ello:DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory" id="ixv-34219"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compensation
to directors (excluding compensation paid under the Management Agreement):</span></ix:nonNumeric></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:continuation id="ello_DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">people</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Amount</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">People</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
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    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; width: 28%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total compensation to directors
    not employed by the Company</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c541" decimals="0" format="ixt:num-dot-decimal" name="ello:NumberOfPeopleForCompensationNotEmployed" scale="0" unitRef="pure" id="ixv-65967">4</ix:nonFraction></span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c541" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:KeyManagementPersonnelCompensation" scale="3" unitRef="eur" id="ixv-65968">80</ix:nonFraction></span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c542" decimals="0" format="ixt:num-dot-decimal" name="ello:NumberOfPeopleForCompensationNotEmployed" scale="0" unitRef="pure" id="ixv-65969">4</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c542" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:KeyManagementPersonnelCompensation" scale="3" unitRef="eur" id="ixv-65970">90</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: center"><ix:nonFraction contextRef="c543" decimals="0" format="ixt:num-dot-decimal" name="ello:NumberOfPeopleForCompensationNotEmployed" scale="0" unitRef="pure" id="ixv-65971">4</ix:nonFraction></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c543" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:KeyManagementPersonnelCompensation" scale="3" unitRef="eur" id="ixv-65972">72</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Share-based payments</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c541" decimals="0" format="ixt:num-dot-decimal" name="ello:NumberOfEmployeesForShareBasedPayments" scale="0" unitRef="pure" id="ixv-65973">4</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c541" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment" scale="3" unitRef="eur" id="ixv-65974">28</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c542" decimals="0" format="ixt:num-dot-decimal" name="ello:NumberOfEmployeesForShareBasedPayments" scale="0" unitRef="pure" id="ixv-65975">4</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c542" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment" scale="3" unitRef="eur" id="ixv-65976">36</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c543" decimals="0" format="ixt:num-dot-decimal" name="ello:NumberOfEmployeesForShareBasedPayments" scale="0" unitRef="pure" id="ixv-65977">4</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c543" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment" scale="3" unitRef="eur" id="ixv-65978">10</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td><td style="text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="ello_DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory-c0_cont_1" escape="true" name="ello:DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory" id="ixv-34483"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Debts and loans to related and interested parties</b></span></ix:nonNumeric></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:continuation continuedAt="ello_DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory-c0_cont_2" id="ello_DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Interest
    income recognized in <br/>
statement of</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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</td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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</td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c545" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:AmountsReceivableRelatedPartyTransactions" scale="3" unitRef="eur" id="ixv-65980">2,665</ix:nonFraction></span></td><td style="width: 1%; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c546" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:InterestIncomeOnLoansAndReceivables" scale="3" unitRef="eur" id="ixv-65981">267</ix:nonFraction></span></td><td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:continuation id="ello_DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</span></td><td style="text-align: justify"><ix:footnote id="ix_7_footnote" xml:lang="en-US"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See Note 6A regarding the conversion of approximately NIS <ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:OutstandingCommitmentsMadeByEntityRelatedPartyTransactions" scale="3" unitRef="ils" id="ixv-65984">46,933</ix:nonFraction> thousand of the shareholders loans (of which the Company&#8217;s portion is approximately NIS <ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions" scale="3" unitRef="ils" id="ixv-65985">23,467</ix:nonFraction> thousand) to capital notes.</span></ix:footnote></td>
</tr></table></ix:continuation></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" id="ixv-34718"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
16 - Equity </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfClassesOfShareCapitalExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfClassesOfShareCapitalExplanatory" id="ixv-34731"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Composition of share capital</b></span></ix:nonNumeric></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:continuation continuedAt="_DisclosureOfClassesOfShareCapitalExplanatory-c0_cont_2" id="_DisclosureOfClassesOfShareCapitalExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:continuation id="_DisclosureOfClassesOfShareCapitalExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><ix:footnote id="ix_8_footnote" xml:lang="en-US"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net of <ix:nonFraction contextRef="c549" decimals="0" format="ixt:num-dot-decimal" name="ello:NetOfTreasuryShares" scale="0" unitRef="shares" id="ixv-65992"><ix:nonFraction contextRef="c550" decimals="0" format="ixt:num-dot-decimal" name="ello:NetOfTreasuryShares" scale="0" unitRef="shares" id="ixv-65993"><ix:nonFraction contextRef="c551" decimals="0" format="ixt:num-dot-decimal" name="ello:NetOfTreasuryShares" scale="0" unitRef="shares" id="ixv-65994">258,046</ix:nonFraction></ix:nonFraction></ix:nonFraction> Ordinary shares held as treasury shares as of December 31, 2023, 2022 and 2021, all of which have been purchased according to share buyback programs that were authorized by the Company&#8217;s Board of Directors.</span></ix:footnote></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:continuation></ix:nonNumeric><div>

</div><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
16 - Equity (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Composition
                                            of share capital (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><ix:continuation id="_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
October 26, 2020, the Company completed a public offering in Israel of additional Series C Debenture (see Note 12B) with an aggregate
principal amount of NIS <ix:nonFraction contextRef="c425" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="6" unitRef="ils" id="ixv-65995">154</ix:nonFraction> million (approximately &#8364;<ix:nonFraction contextRef="c425" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="6" unitRef="eur" id="ixv-65996">38.5</ix:nonFraction> million based on the Euro/NIS exchange rate at that time) (subject to adjustments
upon customary terms and <ix:nonFraction contextRef="c552" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountOfOrdinarySharesRepurchased" scale="3" unitRef="usd" id="ixv-65997">385,000</ix:nonFraction> Series 1 Options, tradable on the Tel Aviv Stock Exchange, to purchase the Company&#8217;s ordinary
shares at an exercise price per share of NIS <ix:nonFraction contextRef="c553" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:ParValuePerShare" scale="0" unitRef="ilsPershares" id="ixv-65998">150</ix:nonFraction> (approximately &#8364;<ix:nonFraction contextRef="c553" decimals="1" format="ixt:num-dot-decimal" name="ifrs-full:ParValuePerShare" scale="0" unitRef="eurPershares" id="ixv-65999">37.5</ix:nonFraction> based on the Euro/NIS exchange rate at that time) (subject
to adjustments upon customary terms). Of the total proceeds of the offering, an amount NIS <ix:nonFraction contextRef="c553" decimals="-3" format="ixt:num-dot-decimal" name="ello:ProceedsFromPrivatePlacement" scale="3" unitRef="ils" id="ixv-66000">8,891</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c553" decimals="-3" format="ixt:num-dot-decimal" name="ello:ProceedsFromPrivatePlacement" scale="3" unitRef="eur" id="ixv-66001">2,224</ix:nonFraction>
thousand based on the Euro/NIS exchange rate at that time) was recognized in Other long-term liabilities in connection with these options.
As of December 31, 2023, the amount of the liability was &#8364;<ix:nonFraction contextRef="c447" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Liabilities" scale="3" unitRef="eur" id="ixv-66002">2</ix:nonFraction> thousand.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
February 23, 2021, the Company issued new Series D Convertible Debentures in a public offering in Israel in the aggregate principal amount
of NIS <ix:nonFraction contextRef="c451" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="ils" id="ixv-66003">62,000</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c451" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Borrowings" scale="3" unitRef="eur" id="ixv-66004">16,956</ix:nonFraction> thousand based on the Euro/NIS exchange rate at that time) (see Note 12B). The Series
D Convertible Debentures are convertible into the Company&#8217;s ordinary shares, NIS <ix:nonFraction contextRef="c451" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:ParValuePerShare" scale="0" unitRef="ilsPershares" id="ixv-66005">10.00</ix:nonFraction> par value per share, at a conversion price
of NIS <ix:nonFraction contextRef="c451" decimals="0" format="ixt:num-dot-decimal" name="ello:DebenturesConvertibleIntoOrdinarySharesParValuePerShare" scale="0" unitRef="ilsPershares" id="ixv-66006">165</ix:nonFraction> (approximately &#8364;<ix:nonFraction contextRef="c451" decimals="1" format="ixt:num-dot-decimal" name="ello:DebenturesConvertibleIntoOrdinarySharesParValuePerShare" scale="0" unitRef="eurPershares" id="ixv-66007">41.6</ix:nonFraction> based on the Euro/NIS exchange rate at that time), subject to adjustments upon customary terms.
Of the total proceeds of the offering, an amount NIS <ix:nonFraction contextRef="c451" decimals="-3" format="ixt:num-dot-decimal" name="ello:ProceedsFromPrivatePlacement" scale="3" unitRef="ils" id="ixv-66008">7,504</ix:nonFraction> thousand (approximately &#8364;<ix:nonFraction contextRef="c451" decimals="-3" format="ixt:num-dot-decimal" name="ello:ProceedsFromPrivatePlacement" scale="3" unitRef="eur" id="ixv-66009">1,890</ix:nonFraction> thousand based on the Euro/NIS exchange
rate at that time) was recognized in Other long-term liabilities in connection with the convertible component. As of December 31, 2023,
the amount of the liability was &#8364;<ix:nonFraction contextRef="c455" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Liabilities" scale="3" unitRef="eur" id="ixv-66010">82</ix:nonFraction> thousand.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
2022, <ix:nonFraction contextRef="c554" decimals="0" format="ixt-sec:numwordsen" name="ifrs-full:NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" scale="0" unitRef="pure" id="ixv-66011">one</ix:nonFraction> of the Company&#8217;s employees exercised options to purchase <ix:nonFraction contextRef="c555" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" scale="0" unitRef="pure" id="ixv-66012">3,290</ix:nonFraction> ordinary shares, respectively. No options were exercised
during 2023.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Rights
                                            attached to shares:</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Voting
                                            rights at the general meeting, right to dividend and rights upon liquidation of the Company.</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
                                                                                                                                                         </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Commencing
                                            August 22, 2011, the Company&#8217;s ordinary shares have been listed on the NYSE American
                                            (formerly the NYSE MKT and the NYSE Amex). On October 27, 2013, the Company&#8217;s ordinary
                                            shares were also listed for trading on the Tel Aviv Stock Exchange in Israel.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Translation
                                            reserve from foreign operation</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capital
                                            management in the Company</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s capital management objectives are:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
                                            preserve the Company&#8217;s ability to ensure business continuity thereby creating a return
                                            for the shareholders, investors and other interested parties.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
                                            ensure adequate return for the shareholders by making reasonable investment decisions based
                                            on the level of internal rate of return that is in line with the Company&#8217;s business
                                            activity.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
                                            maintain healthy capital ratios in order to support business activity and maximize shareholders
                                            value.</span></td></tr></table></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

</div><!-- Field: Page; Sequence: 66; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory" id="ixv-35091"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
17 - Share-Based Payment</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Expenses
                                            recognized in the financial statements</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="ello_DisclosureOfExpensesRecognizedInFinancialStatementsExplanatory-c0_cont_1" escape="true" name="ello:DisclosureOfExpensesRecognizedInFinancialStatementsExplanatory" id="ixv-35109"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
expenses recognized in the financial statements for services received from directors and employees is shown in the following table:</span></ix:nonNumeric></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:continuation id="ello_DisclosureOfExpensesRecognizedInFinancialStatementsExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Year
    ended December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    thousand</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Expenses arising
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    <td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees" scale="3" unitRef="eur" id="ixv-66013">122</ix:nonFraction></span></td><td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees" scale="3" unitRef="eur" id="ixv-66014">127</ix:nonFraction></span></td><td style="width: 1%; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees" scale="3" unitRef="eur" id="ixv-66015">63</ix:nonFraction></span></td><td style="width: 1%; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
share-based payments that the Company granted to its employees and directors are described below. There have been no modifications or
cancellations to any of the share options plans during 2023, 2022 or 2021. The amount recognized as an expense is adjusted to reflect
the actual number of share options that are expected to vest.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="ello_DisclosureOfBlackScholesOptionsPricingModelTextBlock-c0_cont_1" escape="true" name="ello:DisclosureOfBlackScholesOptionsPricingModelTextBlock" id="ixv-35188"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
fair value of the options is estimated using a Black-Scholes options pricing model with the following weighted average assumptions:</span></ix:nonNumeric></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:continuation id="ello_DisclosureOfBlackScholesOptionsPricingModelTextBlock-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Year
    ended December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Expected volatility</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="5" format="ixt:num-dot-decimal" name="ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted" scale="-2" unitRef="pure" id="ixv-66019">0.509</ix:nonFraction></span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c4" decimals="5" format="ixt:num-dot-decimal" name="ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted" scale="-2" unitRef="pure" id="ixv-66020">0.405</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c5" decimals="5" format="ixt:num-dot-decimal" name="ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted" scale="-2" unitRef="pure" id="ixv-66021">0.433</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Risk-free interest</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="4" format="ixt:num-dot-decimal" name="ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted" scale="-2" unitRef="pure" id="ixv-66022">4.92</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c4" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted" scale="-2" unitRef="pure" id="ixv-66023">2.9</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c5" decimals="4" format="ixt:num-dot-decimal" name="ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted" scale="-2" unitRef="pure" id="ixv-66024">0.48</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><ix:nonFraction contextRef="c75" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:DescriptionOfOptionLifeShareOptionsGranted" scale="0" unitRef="pure" id="ixv-66025">2</ix:nonFraction>-<ix:nonFraction contextRef="c76" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:DescriptionOfOptionLifeShareOptionsGranted" scale="0" unitRef="pure" id="ixv-66026">3</ix:nonFraction></b></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction contextRef="c569" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:DescriptionOfOptionLifeShareOptionsGranted" scale="0" unitRef="pure" id="ixv-66027">2</ix:nonFraction>-<ix:nonFraction contextRef="c570" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:DescriptionOfOptionLifeShareOptionsGranted" scale="0" unitRef="pure" id="ixv-66028">3</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction contextRef="c571" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:DescriptionOfOptionLifeShareOptionsGranted" scale="0" unitRef="pure" id="ixv-66029">2</ix:nonFraction>-<ix:nonFraction contextRef="c572" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:DescriptionOfOptionLifeShareOptionsGranted" scale="0" unitRef="pure" id="ixv-66030">3</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Exercise price</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:ExercisePriceShareOptionsGranted2019" scale="0" unitRef="eurPershares" id="ixv-66031">16.11</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c5" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:ExercisePriceShareOptionsGranted2019" scale="0" unitRef="eurPershares" id="ixv-66033">29.27</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory" id="ixv-35356"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
options granted during 2023, 2022 and 2021 were granted with exercise price equal to or higher than the market price on the date of grant.
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:continuation id="_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">US$</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Weighted average
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt">&#160;</td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
    <td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: right">&#160;</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt; text-align: right">&#160;</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt; text-align: right">&#160;</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Weighted average fair
    value on grant date</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c2" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:WeightedAverageFairValueAtMeasurementDateShareOptionsGranted" scale="0" unitRef="usd" id="ixv-66037">5.11</ix:nonFraction></span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c3" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:WeightedAverageFairValueAtMeasurementDateShareOptionsGranted" scale="0" unitRef="usd" id="ixv-66038">7.27</ix:nonFraction></span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c40" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:WeightedAverageFairValueAtMeasurementDateShareOptionsGranted" scale="0" unitRef="usd" id="ixv-66039">9.65</ix:nonFraction></span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stock
                                            Option Plans</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
December 1998, the Company&#8217;s shareholders approved the non-employee director stock option plan (the &#8220;1998 Plan&#8221;). Each
option granted under the 1998 Plan originally vested immediately and expires after <ix:nonNumeric contextRef="c556" name="ifrs-full:DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement" id="ixv-66040">10 years</ix:nonNumeric>. Generally, the Company grants options under
the plan with an exercise price equal to the market price of the underlying shares on the date of grant. An aggregate amount of not more
than <ix:nonFraction contextRef="c556" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" scale="0" unitRef="pure" id="ixv-66041">75,000</ix:nonFraction> ordinary shares was reserved for grants under the 1998 Plan. The original expiration date of the 1998 Plan pursuant to its
terms was <ix:nonNumeric contextRef="c556" name="ello:DateOfExpireOfShareBasedPaymentArrangement" id="ixv-66042">December 8, 2008</ix:nonNumeric> (10 years after its adoption). In January 2008 and June 2018, the term of the 1998 Plan was extended and as
a result on the current expiration date is <ix:nonNumeric contextRef="c556" name="ello:DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement" id="ixv-66043">December 8, 2028</ix:nonNumeric>. In connection with the adoption of the Company&#8217;s compensation policy
in 2013, the 1998 Plan was amended to provide that options granted under the 1998 Plan will become exercisable based on the vesting schedule
determined in the approvals of the option grant.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
each of the years 2023, 2022 and 2021, the Company granted to directors options to purchase an aggregate amount of <ix:nonFraction contextRef="c557" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" scale="0" unitRef="pure" id="ixv-66044">4,616</ix:nonFraction>, <ix:nonFraction contextRef="c558" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" scale="0" unitRef="pure" id="ixv-66045">4,000</ix:nonFraction> and <ix:nonFraction contextRef="c559" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" scale="0" unitRef="pure" id="ixv-66046">4,000</ix:nonFraction>
ordinary shares, respectively, under the 1998 Plan.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p></ix:nonNumeric><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
17 - Share-Based Payment (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stock
                                            Option Plans (cont&#8217;d)</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><ix:continuation id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, options to purchase <ix:nonFraction contextRef="c560" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:NumberOfOutstandingShareOptions" scale="0" unitRef="pure" id="ixv-66047">19,365</ix:nonFraction> ordinary shares are outstanding and <ix:nonFraction contextRef="c560" decimals="0" format="ixt:num-dot-decimal" name="ello:OrdinarySharesAvailableForFutureGrants" scale="0" unitRef="pure" id="ixv-66048">18,051</ix:nonFraction> ordinary shares are available for future
grants under the 1998 Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
August 2000, the Company&#8217;s board of directors adopted the 2000 Stock Option Plan (the &#8220;2000 Plan&#8221;). The initial reserve
under the 2000 Plan was <ix:nonFraction contextRef="c561" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" scale="0" unitRef="pure" id="ixv-66049">200,000</ix:nonFraction> ordinary shares underlying options that may be granted to officers, directors, employees and consultants
of the Company and its subsidiaries and this initial reserve was increased several times. The options usually vest over a <ix:nonNumeric contextRef="c561" format="ixt-sec:durwordsen" name="ello:ShareBasedPaymentAwardOptionsContractualTerm" id="ixv-66050">three year</ix:nonNumeric>
period. The exercise price of the options under the 2000 Plan is determined to be not less than <ix:nonFraction contextRef="c561" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfExercisePrice" scale="-2" unitRef="pure" id="ixv-66051">80</ix:nonFraction>% of the fair market value of the Company&#8217;s
ordinary shares at the time of grant, and they usually expire after <ix:nonNumeric contextRef="c561" name="ifrs-full:DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement" id="ixv-66052">10 years</ix:nonNumeric> from the date of grant. In June 2008 and June 2018, the
term of the 2000 Plan was extended by additional 10 year periods and the current expiration date of the 2000 Plan is <ix:nonNumeric contextRef="c561" name="ello:DateOfExpireOfShareBasedPaymentArrangement" id="ixv-66053">August 31, 2028</ix:nonNumeric>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, options to purchase <ix:nonFraction contextRef="c562" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:NumberOfOutstandingShareOptions" scale="0" unitRef="pure" id="ixv-66054">34,645</ix:nonFraction> ordinary shares are outstanding and <ix:nonFraction contextRef="c562" decimals="0" format="ixt:num-dot-decimal" name="ello:OrdinarySharesAvailableForFutureGrants" scale="0" unitRef="pure" id="ixv-66055">547,206</ix:nonFraction> ordinary shares are available for future
grants under the 2000 Plan. Options that are cancelled or forfeited become available for future grant.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Changes
                                            during the year:</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" id="ixv-35562"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 113.4pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 113.4pt 0pt 0.5in; text-align: justify"></p>

<ix:continuation id="_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td>
    <td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td>
    <td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td>
    <td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td>
    <td style="font-weight: bold">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td>
    <td style="font-weight: bold">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td>
    <td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Average</td>
    <td style="font-weight: bold">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">average</td>
    <td style="font-weight: bold">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Average</td>
    <td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 113.4pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
range of exercise prices for share options outstanding as of December 31, 2023: $<ix:nonFraction contextRef="c563" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" scale="0" unitRef="usdPershares" id="ixv-66089">8.41</ix:nonFraction>- $<ix:nonFraction contextRef="c564" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" scale="0" unitRef="usdPershares" id="ixv-66090">34.44</ix:nonFraction> (as of December 31, 2022 the range was
$<ix:nonFraction contextRef="c565" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" scale="0" unitRef="usdPershares" id="ixv-66091">8.41</ix:nonFraction>- $<ix:nonFraction contextRef="c566" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" scale="0" unitRef="usdPershares" id="ixv-66092">34.44</ix:nonFraction> and as of December&#160;31, 2021 the range was $<ix:nonFraction contextRef="c567" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" scale="0" unitRef="usdPershares" id="ixv-66093">8.41</ix:nonFraction>- $<ix:nonFraction contextRef="c568" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" scale="0" unitRef="usdPershares" id="ixv-66094">34.44</ix:nonFraction>).</span></p></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 68; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->67<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="ello_DisclosureOfDetailsOfStatementsOfProfitOrLossAndOtherComprehensiveIncomeLossExplanatory-c0_cont_1" escape="true" name="ello:DisclosureOfDetailsOfStatementsOfProfitOrLossAndOtherComprehensiveIncomeLossExplanatory" id="ixv-35925"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
18 - Details of the Statements of Profit or Loss and Other Comprehensive Income (Loss)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfRevenueExplanatory" id="ixv-35939"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenues</b></span></ix:nonNumeric></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<ix:continuation continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_2" id="_DisclosureOfRevenueExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Revenues from the sale of solar
    electricity</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c488" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RevenueFromSaleOfElectricity" scale="3" unitRef="eur" id="ixv-66095">31,813</ix:nonFraction></span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c489" decimals="-3" format="ixt:num-dot-decimal" id="ix_96_fact" name="ifrs-full:RevenueFromSaleOfElectricity" scale="3" unitRef="eur">39,601</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c490" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RevenueFromSaleOfElectricity" scale="3" unitRef="eur" id="ixv-66097">32,019</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Revenues from the sale
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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c488" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RevenueFromSaleOfOilAndGasProducts" scale="3" unitRef="eur" id="ixv-66098">17,021</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c489" decimals="-3" format="ixt:num-dot-decimal" id="ix_97_fact" name="ifrs-full:RevenueFromSaleOfOilAndGasProducts" scale="3" unitRef="eur">12,640</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c490" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RevenueFromSaleOfOilAndGasProducts" scale="3" unitRef="eur" id="ixv-66100">12,686</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Total revenues</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c489" decimals="-3" format="ixt:num-dot-decimal" id="ix_98_fact" name="ello:TotalRevenues" scale="3" unitRef="eur">52,241</ix:nonFraction></span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c490" decimals="-3" format="ixt:num-dot-decimal" name="ello:TotalRevenues" scale="3" unitRef="eur" id="ixv-66103">44,705</ix:nonFraction></span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfDepreciationAndAmortisationExpenseExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory" id="ixv-36076"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Operating Costs, Depreciation and Amortization</b></span></ix:nonNumeric></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<ix:continuation continuedAt="_DisclosureOfDepreciationAndAmortisationExpenseExplanatory-c0_cont_2" id="_DisclosureOfDepreciationAndAmortisationExpenseExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    the year ended December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c574" decimals="-3" format="ixt:num-dot-decimal" id="ix_99_fact" name="ifrs-full:DepreciationExpense" scale="3" unitRef="eur">14,954</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c575" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:DepreciationExpense" scale="3" unitRef="eur" id="ixv-66106">13,977</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td><td style="text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfGeneralAndAdministrativeExpenseExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory" id="ixv-36347"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>General and Administrative Expenses</b></span></ix:nonNumeric></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<ix:continuation continuedAt="_DisclosureOfGeneralAndAdministrativeExpenseExplanatory-c0_cont_2" id="_DisclosureOfGeneralAndAdministrativeExpenseExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: White">
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  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:continuation id="_DisclosureOfRevenueExplanatory-c0_cont_2"><ix:continuation id="_DisclosureOfDepreciationAndAmortisationExpenseExplanatory-c0_cont_2"><ix:continuation id="_DisclosureOfGeneralAndAdministrativeExpenseExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><ix:footnote id="ix_9_footnote" xml:lang="en-US"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></ix:footnote></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:continuation></ix:continuation></ix:continuation></ix:nonNumeric><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 69; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->68<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
18 - Details of the Statements of Profit or Loss and Other Comprehensive Income (Loss) (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><ix:continuation id="ello_DisclosureOfDetailsOfStatementsOfProfitOrLossAndOtherComprehensiveIncomeLossExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financing
                                            Income and Expenses:</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfFinanceIncomeExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfFinanceIncomeExplanatory" id="ixv-36567"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financing income</span></ix:nonNumeric></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<ix:continuation continuedAt="_DisclosureOfFinanceIncomeExplanatory-c0_cont_2" id="_DisclosureOfFinanceIncomeExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">For
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  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RevenueFromInterest" scale="3" unitRef="eur" id="ixv-66140">2,015</ix:nonFraction></span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" id="ix_115_fact" name="ifrs-full:RevenueFromInterest" scale="3" unitRef="eur">402</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value of derivatives, net</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" id="ix_116_fact" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" scale="3" unitRef="eur">605</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-216; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Profit from settlement of derivatives contract</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-217; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-218; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Gain from exchange rate
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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NetForeignExchangeGain" scale="3" unitRef="eur" id="ixv-66146">6,732</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" id="ix_117_fact" name="ifrs-full:NetForeignExchangeGain" scale="3" unitRef="eur">6,041</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-219; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Total financing income</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:TotalFinancingIncome" scale="3" unitRef="eur" id="ixv-66148">8,998</ix:nonFraction></span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" id="ix_118_fact" name="ello:TotalFinancingIncome" scale="3" unitRef="eur">7,048</ix:nonFraction></span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" name="ello:TotalFinancingIncome" scale="3" unitRef="eur" id="ixv-66150">673</ix:nonFraction></span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfFinanceCostExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfFinanceCostExplanatory" id="ixv-36755"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financing expenses</span></ix:nonNumeric></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<ix:continuation continuedAt="_DisclosureOfFinanceCostExplanatory-c0_cont_2" id="_DisclosureOfFinanceCostExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">For
    the year ended December 31</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:continuation id="_DisclosureOfFinanceIncomeExplanatory-c0_cont_2"><ix:continuation id="_DisclosureOfFinanceCostExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><ix:footnote id="ix_12_footnote" xml:lang="en-US"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></ix:footnote></td>
</tr></table></ix:continuation></ix:continuation></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 70; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->69<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfIncomeTaxExplanatory" id="ixv-37076"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
19 - Taxes on Income </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Regional
                                            Taxation</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Israeli
taxation</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
tax rate that is relevant to the Company in the years 2021-2023: <ix:nonFraction contextRef="c0" decimals="2" format="ixt:num-dot-decimal" name="ello:RelevantTaxRate" scale="-2" unitRef="pure" id="ixv-66174"><ix:nonFraction contextRef="c5" decimals="2" format="ixt:num-dot-decimal" name="ello:RelevantTaxRate" scale="-2" unitRef="pure" id="ixv-66175">23</ix:nonFraction></ix:nonFraction>%.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Luxembourg
taxation</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration:underline">Net
wealth tax (NWT):</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The real NWT is calculated by the difference between the entity&#8217;s total assets and entity&#8217;s total liabilities (exemption can be applied) multiplied by <ix:nonFraction contextRef="c579" decimals="3" format="ixt:num-dot-decimal" name="ello:PercentageOfNetWealthTaxRate" scale="-2" unitRef="pure" id="ixv-66176">0.5</ix:nonFraction>% if the fortune is lower than &#8364;<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountOfMinimumNetWealthTax" scale="3" unitRef="eur" id="ixv-66177">500</ix:nonFraction> thousand.</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr> </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The minimum NWT is from &#8364;<ix:nonFraction contextRef="c75" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountOfMinimumNetWealthTax" scale="3" unitRef="eur" id="ixv-66178">535</ix:nonFraction> to &#8364;<ix:nonFraction contextRef="c76" decimals="-3" format="ixt:num-dot-decimal" name="ello:AmountOfMaximumNetWealthTax" scale="3" unitRef="eur" id="ixv-66179">32,100</ix:nonFraction>.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Italian
taxation</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a rule, corporate income tax (IRES) is payable by all resident companies on income from any source, whether earned in Italy or abroad
(also for branch established in other country), at the rate of <ix:nonFraction contextRef="c580" decimals="2" format="ixt:num-dot-decimal" name="ello:RelevantTaxRate" scale="-2" unitRef="pure" id="ixv-66180">24</ix:nonFraction>%.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Both
resident and non-resident companies are subject to regional income tax (IRAP), but <ix:nonNumeric contextRef="c581" name="ifrs-full:ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod" id="ixv-66181">only on income arising in Italy at the rate from 3.29%
(in 2024 the minimum rate will increase to 3.9%) to 4.82%</ix:nonNumeric>, depending on the region.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Spanish
taxation</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a rule, corporate income tax is payable by all resident companies on income from any source, whether earned in Spain or abroad at the
rate of <ix:nonFraction contextRef="c582" decimals="2" format="ixt:num-dot-decimal" name="ello:RelevantTaxRate" scale="-2" unitRef="pure" id="ixv-66182">25</ix:nonFraction>%. Commencing January 1, 2021, Spanish companies are allowed to deduct financing expenses in an amount up to <ix:nonFraction contextRef="c582" decimals="2" format="ixt:num-dot-decimal" name="ello:MaximumPercentageOfDeductionInFinancingExpensesOfEbitda" scale="-2" unitRef="pure" id="ixv-66183">30</ix:nonFraction>% of their EBITDA
from <ix:nonFraction contextRef="c582" decimals="-6" format="ixt-sec:numwordsen" name="ifrs-full:ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss" scale="6" unitRef="eur" id="ixv-66184">one</ix:nonFraction> million in financial expenses and up to <ix:nonFraction contextRef="c0" decimals="-6" format="ixt-sec:numwordsen" name="ifrs-full:ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss" scale="6" unitRef="eur" id="ixv-66185">one</ix:nonFraction> million of financial expenses can be deducted in the CIT without having to apply
<ix:nonFraction contextRef="c0" decimals="2" format="ixt:num-dot-decimal" name="ello:MaximumPercentageOfDeductionInFinancingExpensesOfEbitda" scale="-2" unitRef="pure" id="ixv-66186">30</ix:nonFraction>% of EBITDA, with the remainder being carried forward to following years.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">The
Netherlands taxation</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2023, the Dutch corporate income tax rate was <ix:nonFraction contextRef="c583" decimals="2" format="ixt:num-dot-decimal" name="ello:RelevantTaxRate" scale="-2" unitRef="pure" id="ixv-66187">19</ix:nonFraction>% on the first &#8364;<ix:nonFraction contextRef="c583" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense" scale="3" unitRef="eur" id="ixv-66188">200</ix:nonFraction> thousand of taxable profits, and <ix:nonFraction contextRef="c583" decimals="3" format="ixt:num-dot-decimal" name="ello:PercetageOfTaxableProfitsExceeding" scale="-2" unitRef="pure" id="ixv-66189">25.8</ix:nonFraction>% on taxable profits exceeding
that amount. In 2022, <ix:nonFraction contextRef="c584" decimals="2" format="ixt:num-dot-decimal" name="ello:RelevantTaxRate" scale="-2" unitRef="pure" id="ixv-66190">15</ix:nonFraction>% on the first &#8364;<ix:nonFraction contextRef="c584" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense" scale="3" unitRef="eur" id="ixv-66191">395</ix:nonFraction> thousand of taxable profits and <ix:nonFraction contextRef="c584" decimals="2" format="ixt:num-dot-decimal" name="ello:PercetageOfTaxableProfitsExceeding" scale="-2" unitRef="pure" id="ixv-66192">25</ix:nonFraction>% on taxable profits exceeding that amount. In 2021,
<ix:nonFraction contextRef="c585" decimals="2" format="ixt:num-dot-decimal" name="ello:RelevantTaxRate" scale="-2" unitRef="pure" id="ixv-66193">15</ix:nonFraction>% on the first &#8364;<ix:nonFraction contextRef="c585" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense" scale="3" unitRef="eur" id="ixv-66194">245</ix:nonFraction> thousand of taxable profits and <ix:nonFraction contextRef="c585" decimals="2" format="ixt:num-dot-decimal" name="ello:PercetageOfTaxableProfitsExceeding" scale="-2" unitRef="pure" id="ixv-66195">25</ix:nonFraction>% on taxable profits exceeding that amount.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><ix:nonNumeric contextRef="c0" continuedAt="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock-c0_cont_1" escape="true" name="ello:DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock" id="ixv-37179"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></ix:nonNumeric></td><td style="text-align: justify"><ix:continuation continuedAt="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock-c0_cont_2" id="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock-c0_cont_1"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Composition of income tax benefit (taxes on income):</b></span></ix:continuation></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:continuation continuedAt="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock-c0_cont_3" id="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock-c0_cont_2"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">For
    the year ended December 31</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">*2022</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">*2021</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Current tax expense</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Current
    year</span></td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentTaxExpenseIncome" scale="3" unitRef="eur" id="ixv-66196">932</ix:nonFraction></span></td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="width: 1%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" id="ix_135_fact" name="ifrs-full:CurrentTaxExpenseIncome" scale="3" unitRef="eur">1,826</ix:nonFraction></span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="width: 1%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" id="ix_136_fact" name="ifrs-full:CurrentTaxExpenseIncome" scale="3" unitRef="eur">977</ix:nonFraction></span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" scale="3" sign="-" unitRef="eur" id="ixv-66199">932</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" id="ix_137_fact" name="ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" scale="3" sign="-" unitRef="eur">1,826</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" id="ix_138_fact" name="ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" scale="3" sign="-" unitRef="eur">977</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Deferred tax income</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:continuation id="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock-c0_cont_3"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><ix:footnote id="ix_14_footnote" xml:lang="en-US"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></ix:footnote></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:continuation></ix:nonNumeric><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 71; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->70<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
19 - Taxes on Income (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_2" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><ix:nonNumeric contextRef="c0" continuedAt="ello_DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock-c0_cont_1" escape="true" name="ello:DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock" id="ixv-37518"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></ix:nonNumeric></td><td style="text-align: justify"><ix:continuation continuedAt="ello_DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock-c0_cont_2" id="ello_DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock-c0_cont_1"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Reconciliation between the theoretical tax on the pre-tax profit and the tax expense:</b></span></ix:continuation></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:continuation continuedAt="ello_DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock-c0_cont_3" id="ello_DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock-c0_cont_2"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" id="ix_145_fact" name="ello:ProfitlossBeforeTaxesOnIncome" scale="3" unitRef="eur">1,081</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" id="ix_146_fact" name="ello:ProfitlossBeforeTaxesOnIncome" scale="3" sign="-" unitRef="eur">22,935</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
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    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Additional
    tax saving in respect of:</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Different
    tax rate of foreign subsidiaries</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" id="ix_151_fact" name="ifrs-full:AccountingProfit" scale="3" unitRef="eur">488</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" id="ix_152_fact" name="ifrs-full:AccountingProfit" scale="3" unitRef="eur">40</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Neutralization
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" id="ix_154_fact" name="ello:NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees" scale="3" unitRef="eur">27</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Difference
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    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes" scale="3" sign="-" unitRef="eur" id="ixv-66227">47</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Changes
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    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast" scale="3" unitRef="eur" id="ixv-66229">713</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-227; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Utilization
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    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" scale="3" unitRef="eur" id="ixv-66231">1,363</ix:nonFraction></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" id="ix_157_fact" name="ifrs-full:DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" scale="3" unitRef="eur">566</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-228; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change
    in temporary differences for which deferred tax were not recognized</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:ChangeInTemporaryTaxDifferences" scale="3" unitRef="eur" id="ixv-66233">106</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-229; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" id="ix_158_fact" name="ello:ChangeInTemporaryTaxDifferences" scale="3" unitRef="eur">51</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Current
    year tax losses and benefits for which deferred taxes were not created</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers" scale="3" sign="-" unitRef="eur" id="ixv-66235">1,275</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" id="ix_159_fact" name="ello:CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers" scale="3" sign="-" unitRef="eur">1,199</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" id="ix_160_fact" name="ello:CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers" scale="3" sign="-" unitRef="eur">2,770</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Permanent
differences</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:TaxesInRespectToPreviousYearsAndOthers" scale="3" sign="-" unitRef="eur" id="ixv-66238">122</ix:nonFraction></td><td style="padding-right: 2.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" id="ix_161_fact" name="ello:TaxesInRespectToPreviousYearsAndOthers" scale="3" sign="-" unitRef="eur">135</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" id="ix_162_fact" name="ello:TaxesInRespectToPreviousYearsAndOthers" scale="3" sign="-" unitRef="eur">7</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Actual
    tax benefit (taxes on income)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:ActualTaxBenefittaxesOnIncome" scale="3" sign="-" unitRef="eur" id="ixv-66241">1,436</ix:nonFraction></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(<ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" id="ix_163_fact" name="ello:ActualTaxBenefittaxesOnIncome" scale="3" unitRef="eur">1,652</ix:nonFraction></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" id="ix_164_fact" name="ello:ActualTaxBenefittaxesOnIncome" scale="3" sign="-" unitRef="eur">2,536</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<ix:continuation id="ello_DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock-c0_cont_3"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><ix:footnote id="ix_15_footnote" xml:lang="en-US"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified
due to discontinued operation - see Note 23.</span></ix:footnote></td>
</tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Carry
                                            forward tax losses:</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, Ellomay Capital Ltd. had no available carry forward tax losses. Ellomay Capital Ltd. had carry forward capital
tax losses in the amount of approximately &#8364;1,361 thousand, which have no expiration date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
taxes of Ellomay Capital Ltd. have not been recognized because the Company&#8217;s management currently believes that as the Company
has a history of losses it is more likely than not that the deferred tax regarding losses carry forward will not be utilized in the foreseeable
future.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
taxes are recognized by operating subsidiaries for unused tax losses, tax benefits and deductible temporary differences, to the extent
that it is probable that future taxable profits will be available against which they can be utilized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the Company&#8217;s Dutch subsidiaries had carry forward tax losses and deductions aggregating to approximately
&#8364;<ix:nonFraction contextRef="c586" decimals="-3" format="ixt:num-dot-decimal" name="ello:TaxLossCarryforwards" scale="3" unitRef="eur" id="ixv-66244">18,906</ix:nonFraction> thousand. Of such carry forward tax losses, a deferred tax asset amounting to approximately &#8364;<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:TaxLossCarryforwards" scale="3" unitRef="eur" id="ixv-66245">1,592</ix:nonFraction> thousand was not
recorded.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 72; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->71<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
19 - Taxes on Income (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><ix:continuation id="_DisclosureOfIncomeTaxExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>E.</b></span></td><td style="text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory" id="ixv-38016"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Deferred taxes:</b></span></ix:nonNumeric></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<ix:continuation continuedAt="_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory-c0_cont_2" id="_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt">Diluted profit (loss) per share from continuing operations</td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt">Diluted profit (loss) per share from discontinued operation</td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
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  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_DisclosureOfEarningsPerShareExplanatory-c0_cont_3" id="_DisclosureOfEarningsPerShareExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in">(1)</td><td style="text-align: justify"><ix:footnote id="ix_16_footnote" xml:lang="en-US">Net of treasury shares.</ix:footnote></td></tr></table></ix:continuation>

<ix:continuation id="_DisclosureOfEarningsPerShareExplanatory-c0_cont_3"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in">(2)</td><td style="text-align: justify"><ix:footnote id="ix_17_footnote" xml:lang="en-US">In 2023, 2022 and 2021 share options and warrants did not have a dilutive effect.</ix:footnote></td></tr></table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.85pt; text-align: justify; text-indent: -35.4pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2023 <ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ello:weightedAverageNumberOfOrdinarySharesOptions" scale="3" unitRef="usd" id="ixv-66321">794</ix:nonFraction> thousand options
and warrants (in 2022 and 2021: <ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ello:weightedAverageNumberOfOrdinarySharesOptions" scale="3" unitRef="usd" id="ixv-66322">779</ix:nonFraction> thousand and <ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" name="ello:weightedAverageNumberOfOrdinarySharesOptions" scale="3" unitRef="usd" id="ixv-66323">762</ix:nonFraction> thousand, respectively) were excluded from the diluted weighted average number
of ordinary shares calculation as their effect would have been anti-dilutive.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The average market value of the Company&#8217;s
shares for purposes of calculating the dilutive effect of share options was based on quoted market prices for the period that the options
were outstanding.</p></ix:nonNumeric><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->73<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfFinancialInstrumentsExplanatory" id="ixv-39014"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 21 - Financial Instruments</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Overview</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Compan<span style="font-family: Times New Roman, Times, Serif">y
has exposure to the following risks from its use of financial instruments:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Credit
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</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Liquidity
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</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Market
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</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">This
note presents quantitative and qualitative information about the Company&#8217;s exposure to each of the above risks, and the Company&#8217;s
objectives, policies and processes for measuring and managing risk.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="ello_ScheduleOfTransactionsInDerivativeFinancialInstrumentsTableTextBlock-c0_cont_1" escape="true" name="ello:ScheduleOfTransactionsInDerivativeFinancialInstrumentsTableTextBlock" id="ixv-39062"><span style="font-family: Times New Roman, Times, Serif">In
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<ix:continuation id="ello_ScheduleOfTransactionsInDerivativeFinancialInstrumentsTableTextBlock-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 21 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Overview  (cont&#8217;d)</b></td></tr>
</table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_2" id="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="ello_DisclosureOfDetailedInformationAboutForwardAndSwapContractsExplanatory-c0_cont_1" escape="true" name="ello:DisclosureOfDetailedInformationAboutForwardAndSwapContractsExplanatory" id="ixv-66339">The following table sets forth the details
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>B.</b></td><td style="text-align: justify"><b>Risk management framework</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company&#8217;s management and board
of directors have overall responsibility for the establishment and oversight of the Company&#8217;s risk management framework.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company&#8217;s risk management
policies are established to identify and analyze the risks faced by the Company, to set appropriate risk limits and controls, and to monitor
risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and
the Company&#8217;s activities. The Company, through its training and management of standards and procedures, aims to develop a disciplined
and constructive control environment in which all employees understand their roles and obligations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company&#8217;s Audit Committee
oversees how management monitors compliance with the Company&#8217;s risk management policies, procedures and reviews the adequacy of
the risk management framework in relation to the risks faced by the Company. The Company&#8217;s Audit Committee is assisted in its oversight
role by Internal Audit. Internal Audit undertakes both regular and ad hoc reviews of risk management controls and procedures, the results
of which are reported to the Audit Committee.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 76; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->75<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 21 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p><div>

</div><ix:continuation continuedAt="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_3" id="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>C.</b></td><td style="text-align: justify"><b>Credit Risk</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As at December 31, 2023, the Company
does not have any significant concentration of credit risk.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="text-decoration:underline">Cash and short-term deposits</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As at December 31, 2023 and 2022, the
Company had cash and cash equivalents in the amount of &#8364;<ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CashAndCashEquivalents" scale="3" unitRef="eur" id="ixv-66350">51,127</ix:nonFraction> thousand and &#8364;<ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CashAndCashEquivalents" scale="3" unitRef="eur" id="ixv-66351">46,458</ix:nonFraction> thousand, respectively. The Company&#8217;s
cash and cash equivalents are deposited with financial institutions that received a credit rating (international rating scale). See also
Note 4.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="text-decoration:underline">Restricted cash</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As at December 31, 2023 and 2022, the
Company had a balance of current restricted cash in an amount of &#8364;<ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentRestrictedCashAndCashEquivalents" scale="3" unitRef="eur" id="ixv-66352">810</ix:nonFraction> thousand and &#8364;<ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentRestrictedCashAndCashEquivalents" scale="3" unitRef="eur" id="ixv-66353">900</ix:nonFraction> thousand, respectively, and a balance
of non-current restricted cash of &#8364;<ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentRestrictedCashAndCashEquivalents" scale="3" unitRef="eur" id="ixv-66354">17,386</ix:nonFraction> thousand and &#8364;<ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentRestrictedCashAndCashEquivalents" scale="3" unitRef="eur" id="ixv-66355">20,192</ix:nonFraction> thousand, respectively. See also Note 5.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="text-decoration:underline">Trade and other receivables</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">As at December 31, 2023 and 2022, the
Company had a balance of trade receivables of &#8364;<ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentTradeReceivables" scale="3" unitRef="eur" id="ixv-66356">205</ix:nonFraction> thousand and &#8364;<ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentTradeReceivables" scale="3" unitRef="eur" id="ixv-66357">420</ix:nonFraction> thousand, respectively. This balance mainly refers to the
sale of green certificates from the activity in the Netherland due within 30 days from issuance. In 2022, the balance mostly referred
to sale of electricity to the IEC for the PV Plant located in Israel and is due in 30 days. This balance is classified as assets of disposal
groups held for sale in 2023.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As at December 31, 2023 and 2022, the
Company had a balance of revenue receivables of &#8364;<ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ello:CurrentIncomeReceivable" scale="3" unitRef="eur" id="ixv-66358">1,013</ix:nonFraction> thousand and &#8364;<ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ello:CurrentIncomeReceivable" scale="3" unitRef="eur" id="ixv-66359">1,062</ix:nonFraction> thousand, respectively. This balance refers to amounts
to be paid mainly from the facilities in the Netherlands. The revenue receivables are from gas sold in market price in the Netherlands
due within 60 days and the sale of green certificates within 60 days.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company&#8217;s management closely
monitors the economic and political environment in which it operates. As per the Company&#8217;s management estimations, there are no
significant credit risks assigned to the trade receivables and income receivables as these amounts are due by governmental agencies or
by established companies that pay on a weekly or monthly basis.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As at December 31, 2023 and 2022, the
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balance refers to VAT receivables in Spain, Italy, Israel and the Netherlands.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>D.</b></td><td style="text-align: justify"><b>Liquidity risk</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Liquidity risk is the risk that the
Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering
cash or another financial asset. The Company&#8217;s approach to managing liquidity is to ensure, as far as possible, that it will always
have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable
losses or risking damage to the Company&#8217;s reputation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As of December 31, 2023, the Company
had a working capital of approximately &#8364;<ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:IncreaseDecreaseInWorkingCapital" scale="3" unitRef="eur" id="ixv-66362">5,199</ix:nonFraction> thousand.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The cash surpluses held by Company that
are not required for financing their current activity, are invested in interest-bearing investment channels such as short-term deposits.
These investment channels are chosen by the Company&#8217; managements based on future forecasts of the cash the Company will require
in order to meet their liabilities. Cash flow forecasts are determined on both an individual company basis and a consolidated basis. The
Company examines current forecasts of its liquidity requirements so as to make certain that there is sufficient cash for its operating
needs, and it is careful at all times to have enough unused credit facilities so that the Company does not exceed its credit limits and
is in compliance with its financial covenants.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 77; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->76<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 21 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>D.</b></td><td style="text-align: justify"><b>Liquidity risk (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_4" id="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">These forecasts take into consideration
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with certain liquidity ratios, and compliance with external requirements such as laws or regulation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company has contractual commitments
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_MaturityAnalysisForDerivativeFinancialLiabilities-c0_cont_2" id="_MaturityAnalysisForDerivativeFinancialLiabilities-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="margin: 0"></p>

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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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</div><div>

</div><!-- Field: Page; Sequence: 78; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 21 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p><div>

</div><ix:continuation continuedAt="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_5" id="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_4"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Market risk is the risk that changes
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risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The principal risks that the Company
faces, as assessed by management, are as follows: a change in the regulation applicable to the area of activity, a change in the electricity
prices or the tariffs as approved by the relevant electricity authorities in the countries in which the Company operates, changes in the
situation of the electricity and gas market, political and security events.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Company uses hedging instruments
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are OTC derivatives, i.e., derivative contracts that are not transacted on an exchange. These derivatives are entered into under ISDA
Master Agreements. If counterparty defaults on these contracts, the underlying exposure would no longer be effectively hedged, which could
result in losses. Disruptions such as market crises and economic recessions may put a strain on the availability and effectiveness of
hedging instruments. For example, although the Company estimates the expected transition away from Euribor, as addressed by the Amendments
to IAS 39, Financial Instruments, Interest Rate Benchmark Reform &#8211; Phase 2, not to have a material effect on the Company,&#8217;s
financial statements, similar benchmark rates may have a different impact on the hedged item and the hedging instrument, which could cause
some of the Company hedge to become ineffective, resulting in potential losses.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>(1)</b></td><td style="text-align: justify"><b>Foreign currency risk</b></td></tr></table>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As a result of the Company&#8217;s operations
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balance sheet and profit and loss.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company holds cash and cash equivalents,
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PV Plants and projects under development are denominated in Euro, its holdings in projects under development in the US are denominated
in USD and its holdings in its Israeli PV Plant, projects under development and indirect holdings in Dorad are denominated in NIS. The
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a substantial portion of its foreign currency risk.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 21 - Financial Instruments (cont&#8217;d)</b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-275">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-276">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Current maturities of lease liabilities</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Long-term loans</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left">(*)</td><td style="text-align: justify">Including items linked to the Israeli CPI</td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 80; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->79<!-- Field: /Sequence --></p></div><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 21 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>E.</b></td><td style="text-align: justify"><b>Market risk (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>(1)</b></td><td style="text-align: justify"><b>Foreign currency risk (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>(a)</b></td><td style="text-align: justify"><b>The exposure to linkage and foreign currency risk (cont&#8217;d)</b></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_7" id="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_6"><ix:continuation continuedAt="ello_ScheduleOfCompanysExposureToLinkageAndForeignCurrencyRiskTableTextBlock-c0_cont_3" id="ello_ScheduleOfCompanysExposureToLinkageAndForeignCurrencyRiskTableTextBlock-c0_cont_2"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c628" decimals="-3" format="ixt:num-dot-decimal" id="ix_188_fact" name="ifrs-full:CurrentReceivablesDueFromAssociates" scale="3" unitRef="eur">4,694</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c629" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentReceivablesDueFromAssociates" scale="3" unitRef="usd" id="ixv-66516">16</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c630" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentReceivablesDueFromAssociates" scale="3" unitRef="eur" id="ixv-66517">5,798</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentReceivablesDueFromAssociates" scale="3" unitRef="eur" id="ixv-66518">12,682</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">Non-current assets:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Investments in equity accounted investees</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c627" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" scale="3" unitRef="eur" id="ixv-66519">23,976</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c628" decimals="-3" format="ixt:num-dot-decimal" id="ix_189_fact" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" scale="3" unitRef="eur">6,053</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-324">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-325">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" scale="3" unitRef="eur" id="ixv-66521">30,029</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Advances on account of investments</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c627" decimals="-3" format="ixt:num-dot-decimal" name="ello:AdvancesOnAccountOfInvestments" scale="3" unitRef="eur" id="ixv-66522">2,328</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-326">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-327">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-328">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ello:AdvancesOnAccountOfInvestments" scale="3" unitRef="eur" id="ixv-66523">2,328</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Receivable from concession project</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-329">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c628" decimals="-3" format="ixt:num-dot-decimal" id="ix_190_fact" name="ello:ReceivableFromConcessionProjectNonCurrentAssets" scale="3" unitRef="eur">24,795</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-330">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-331">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ello:ReceivableFromConcessionProjectNonCurrentAssets" scale="3" unitRef="eur" id="ixv-66525">24,795</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Fixed assets</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c627" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentFinancialAssets" scale="3" unitRef="eur" id="ixv-66526">365,756</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-332">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-333">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-334">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentFinancialAssets" scale="3" unitRef="eur" id="ixv-66527">365,756</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Right-of-use asset</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c627" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RightofuseAssets" scale="3" unitRef="eur" id="ixv-66528">30,020</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-335">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-336">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-337">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RightofuseAssets" scale="3" unitRef="eur" id="ixv-66529">30,020</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Intangible asset</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c627" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="3" unitRef="eur" id="ixv-66530">4,094</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-338">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-339">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-340">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="3" unitRef="eur" id="ixv-66531">4,094</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Restricted cash and deposits</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-341">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c628" decimals="-3" format="ixt:num-dot-decimal" id="ix_191_fact" name="ifrs-full:OtherCashAndCashEquivalents" scale="3" unitRef="eur">5,607</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-342">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c630" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:OtherCashAndCashEquivalents" scale="3" unitRef="eur" id="ixv-66533">14,585</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:OtherCashAndCashEquivalents" scale="3" unitRef="eur" id="ixv-66534">20,192</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Deferred tax</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c627" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:DeferredTaxAssets" scale="3" unitRef="eur" id="ixv-66535">23,510</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-343">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-344">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-345">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:DeferredTaxAssets" scale="3" unitRef="eur" id="ixv-66536">23,510</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Long term receivables</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c627" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentTradeReceivables" scale="3" unitRef="eur" id="ixv-66537">7,840</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c628" decimals="-3" format="ixt:num-dot-decimal" id="ix_192_fact" name="ifrs-full:NoncurrentTradeReceivables" scale="3" unitRef="eur">1,171</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-346">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c630" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentTradeReceivables" scale="3" unitRef="eur" id="ixv-66539">259</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentTradeReceivables" scale="3" unitRef="eur" id="ixv-66540">9,270</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Derivatives</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-347">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-348">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-349">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c630" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentDerivativeFinancialAssets" scale="3" unitRef="eur" id="ixv-66541">1,488</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentDerivativeFinancialAssets" scale="3" unitRef="eur" id="ixv-66542">1,488</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Current liabilities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Current maturities of long-term bank loans</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-350">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c628" decimals="-3" format="ixt:num-dot-decimal" id="ix_193_fact" name="ifrs-full:CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived" scale="3" unitRef="eur">2,091</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-351">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c630" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived" scale="3" unitRef="eur" id="ixv-66544">10,724</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived" scale="3" unitRef="eur" id="ixv-66545">12,815</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Current maturities of long-term loans</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-352">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-353">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-354">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c630" decimals="-3" format="ixt:num-dot-decimal" name="ello:CurrentMaturitiesOfLongtermLoans" scale="3" sign="-" unitRef="eur" id="ixv-66546">10,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ello:CurrentMaturitiesOfLongtermLoans" scale="3" sign="-" unitRef="eur" id="ixv-66547">10,000</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Current maturities of debentures</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-355">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c628" decimals="-3" format="ixt:num-dot-decimal" id="ix_194_fact" name="ifrs-full:CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued" scale="3" unitRef="eur">18,714</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-356">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-357">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued" scale="3" unitRef="eur" id="ixv-66549">18,714</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Trade payables</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-374">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-380">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  </table></ix:continuation>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p>

<ix:continuation id="ello_ScheduleOfCompanysExposureToLinkageAndForeignCurrencyRiskTableTextBlock-c0_cont_3"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left">(*)</td><td style="text-align: justify"><ix:footnote id="ix_18_footnote" xml:lang="en-US">Including items linked to the Israeli CPI</ix:footnote></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><b>&#160;</b></p></ix:continuation></ix:continuation><div>

</div><div>


</div><!-- Field: Page; Sequence: 81; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->80<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 21 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>E.</b></td><td style="text-align: justify"><b>Market risk (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>(1)</b></td><td style="text-align: justify"><b>Foreign currency risk (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>(a)</b></td><td style="text-align: justify"><b>The exposure to linkage and foreign currency risk (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

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rates:</ix:nonNumeric></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<ix:continuation id="_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>(b)</b></td><td style="text-align: justify"><b>Sensitivity analysis</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A change as at December 31 in the exchange
rates of the following euro against the USD and euro against the NIS, as indicated below would have increased (decreased) equity by the
amounts shown below (after tax). This analysis is based on foreign currency exchange rate that the Company considered to be reasonably
possible at the end of the reporting period. <ix:nonNumeric contextRef="c0" continuedAt="ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock-c0_cont_1" escape="true" name="ello:ScheduleOfSensitivityAnalysisOfEquityTableTextBlock" id="ixv-66593">The analysis assumes that all other variables, in particular interest rates, remain constant.</ix:nonNumeric></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock-c0_cont_2" id="ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: White">
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  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<ix:continuation id="ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock-c0_cont_2"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 82; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 21 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>E.</b></td><td style="text-align: justify"><b>Market risk (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_9" id="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_8"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>(2)</b></td><td style="text-align: justify"><b>Interest rate risk</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company is exposed to changes in
fair value, as a result of changes in interest rate in connection with its loans and borrowings. The debt instruments of the Company bear
interest at variable rates.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company entered into various project
finance agreements that are based on EURIBOR rate and on the Bank of Israel interest rate and therefore it may be affected by adverse
movements in interest rates. <span style="font-family: Times New Roman, Times, Serif">The Company utilizes interest rate swap derivatives
to convert certain floating-rate debt to fixed-rate debt. The Company&#8217;s interest rate swap derivatives involve an agreement to pay
a fixed-rate interest and receive a floating-rate interest, at specified intervals, calculated on an agreed notional amount that matches
the amount of the original loan and paid on the same installments and maturity dates. </span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>Sensitivity analysis</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="ello_ScheduleOfChangeInInterestRateProfitLossTableTextBlock-c0_cont_1" escape="true" name="ello:ScheduleOfChangeInInterestRateProfitLossTableTextBlock" id="ixv-66602">A change in interest rate would have
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>(3)</b></td><td style="text-align: justify"><b>Electricity market prices risk</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As a result of the Company&#8217;s operations
in the electricity market, the Company is exposed to the impact of changes in electricity prices.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In order to manage its exposure to changes
in the electricity prices, in June 2018, Talasol executed the Talasol PPA. The power produced by the Talasol PV Plant is expected to be
sold by Talasol in the open market for the then current market power price and the Talasol PPA is expected to hedge the risks associated
with fluctuating electricity market prices by allowing Talasol to secure approximately <ix:nonFraction contextRef="c2" decimals="2" format="ixt:num-dot-decimal" name="ello:PercentageOfIncomeForProduction" scale="-2" unitRef="pure" id="ixv-66611">80</ix:nonFraction>% of its income for the power production included
under the Talasol PPA. The hedge transaction becomes effective on Talasol requesting that the counter party fix the fixed price pursuant
to the price adjustment mechanism. The Talasol PPA became effective in March 2019 and its accounting treatment is according to cash flow
hedge.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The fair value of the Talasol PPA is
measured by discounting the future fixed and assessed cash flows, over the period of the contract and using market interest rates appropriate
for similar instruments. The value is adjusted for the parties&#8217; credit risks. The valuation technique for assessing electricity
future prices projections takes into consideration unobservable market data and complex pricing models.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In 2021, Talasol deposited &#8364;<ix:nonFraction contextRef="c40" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:DepositsFromBanks" scale="6" unitRef="eur" id="ixv-66612">10</ix:nonFraction>
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year, up to a minimum amount of &#8364;<ix:nonFraction contextRef="c5" decimals="-5" format="ixt:num-dot-decimal" name="ello:SecurityFundAmount" scale="6" unitRef="eur" id="ixv-66614">3.5</ix:nonFraction> million, which will be released at the expiration of the PPA.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 83; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 21 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p><div>

</div><ix:continuation continuedAt="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_10" id="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_9"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>F.</b></td><td style="text-align: justify"><b>Fair value</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>(1)</b></td><td style="text-align: justify"><b>Fair values versus carrying amounts</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The carrying amounts of certain financial
assets and liabilities, including cash and cash equivalents, other accounts receivables, pledged deposits, financial derivatives credit
from banks and trade payables and other accounts payables are the same or proximate to their fair value.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesTableTextBlock-c0_cont_1" escape="true" name="ello:ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesTableTextBlock" id="ixv-66615">The fair values of the other financial
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesTableTextBlock-c0_cont_2" id="ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesTableTextBlock-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

</div><!-- Field: Page; Sequence: 84; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 21 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>F.</b></td><td style="text-align: justify"><b>Fair value (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p><div>

</div><ix:continuation continuedAt="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_11" id="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_10"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>(2)</b></td><td style="text-align: justify"><b>Interest rates used for determining fair value</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>(3)</b></td><td style="text-align: justify"><b>Fair values hierarchy</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The financial instruments presented
at fair value are grouped into classes with similar characteristics using the following fair value hierarchy which is determined based
on the source of data used in the measurement:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

</div><!-- Field: Page; Sequence: 85; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 21 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>F.</b></td><td style="text-align: justify"><b>Fair value (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>(3)</b></td><td style="text-align: justify"><b>Fair values hierarchy (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 21 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>F.</b></td><td style="text-align: justify"><b>Fair value (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p><div>

</div><ix:continuation id="_DisclosureOfFinancialInstrumentsExplanatory-c0_cont_12"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(4)</b></td><td style="text-align: justify"><b>Level 3 financial instruments carried at fair value</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock-c0_cont_1" escape="true" name="ello:ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock" id="ixv-66664">The table hereunder presents reconciliation
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p>

<ix:continuation continuedAt="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock-c0_cont_2" id="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<tr style="vertical-align: bottom">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: left">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Balance as at December 31, 2023</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><ix:nonFraction contextRef="c710" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:FinancialLiabilities" scale="3" unitRef="eur" id="ixv-66671">5,698</ix:nonFraction></td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  </table></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<ix:continuation id="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock-c0_cont_2"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left">*</td><td style="text-align: justify"><ix:footnote id="ix_19_footnote" xml:lang="en-US">Reclassified</ix:footnote></td>
</tr></table></ix:continuation></ix:continuation><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 87; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: White"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory" id="ixv-43526"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: White"><b>Note
22 - Operating Segments </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: White"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="background-color: White">The
C<span style="font-family: Times New Roman, Times, Serif">om</span></span><span style="font-family: Times New Roman, Times, Serif">pany&#8217;s
reportable segments, which form the Company&#8217;s strategic business units, are described below:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify">PV Plants &#8211; Operation of installations that convert the energy
in sunlight into electrical <span style="background-color: white">energy</span> as follows:</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">approximately&#160;7.9MWp
                                            aggregate installed capacity of photovoltaic power plants in Spain,</span></td></tr>
                                                                                                                                </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Ellomay
                                            Solar S.L.U, a photovoltaic plant with a peak capacity of 28 MW in the municipality of Talav&#225;n,
                                            C&#225;ceres, Spain, that was connected to the electricity grid at June 24, 2022</span></td></tr>
                                                                                                                                               </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">(iii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><ix:nonFraction contextRef="c711" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:PercentageOfEntitysRevenue" scale="-2" unitRef="pure" id="ixv-66673">51</ix:nonFraction>% of Talasol, with a peak capacity of 300 MW in the municipality of Talav&#225;n, C&#225;ceres, Spain,</span></td></tr> </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">(iv)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">a
                                            photovoltaic power plant of approximately 9 MWp installed capacity in Israel</span></td></tr>
                                                                                                                                         </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">(v)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Ellomay
                                            Solar Italy One SRL and Ellomay Solar Italy Two SRL that are constructing photovoltaic plants
                                            with installed capacity of 14.8 MW and 4.95 MW respectively, in the Lazio Region, Italy,</span></td></tr>
                                                                                                                                                     </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">(vi)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Ellomay
                                            Solar Italy Four SRL, Ellomay Solar Italy Five SRL, Ellomay Solar Italy Seven SRL, Ellomay
                                            Solar Italy Nine SRL and Ellomay Solar Italy Ten SRL that are developing photovoltaic projects
                                            with installed capacity of 15.06 MW, 87.2 MW, 54.77 MW, 8 MW and 18 MW, respectively, in
                                            Italy that have reached &#8220;ready to build&#8221; status and </span></td></tr>
                                                                                                                             </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">(vii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="background-color: white">Fairfield Solar Project, LLC,
Malakoff Solar I, LLC, Malakoff Solar II, LLC, Mexia Solar I, LLC, Mexia Solar II, LLC, and Talco Solar, LLC, that are developing photovoltaic
projects with installed capacity of 13.44 MW, 6.96 MW, 6.96 MW, 5.6 MW, 5.6 MW and 10.3 MW, respectively, in the Dallas Metropolitan area,
Texas, that have reached &#8220;ready to build&#8221; status.</span></span></td></tr>
                                                                                                                                             </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V. (BioGas), project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately <ix:nonFraction contextRef="c712" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:OtherRevenue" scale="6" unitRef="usd" id="ixv-66674">3</ix:nonFraction> million, <ix:nonFraction contextRef="c713" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:OtherRevenue" scale="6" unitRef="usd" id="ixv-66675">3.8</ix:nonFraction> million and <ix:nonFraction contextRef="c714" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:OtherRevenue" scale="6" unitRef="usd" id="ixv-66676">9.5</ix:nonFraction> million Nm3 per year, respectively.</span></td></tr> </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Dorad Energy Ltd. (Dorad) &#8211; <ix:nonFraction contextRef="c715" decimals="5" format="ixt:num-dot-decimal" name="ello:PecentageOfIndirectInterest" scale="-2" unitRef="pure" id="ixv-66677">9.375</ix:nonFraction>% indirect interest in Dorad, which owns and operates a combined cycle power plant based on natural gas, with production capacity of approximately 860 MW, located south of Ashkelon, Israel.</span></td></tr> </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Pumped storage hydro power plant (Manara) &#8211; <ix:nonFraction contextRef="c716" decimals="5" format="ixt:num-dot-decimal" name="ello:PecentageOfIndirectInterest" scale="-2" unitRef="pure" id="ixv-66678">83.333</ix:nonFraction>% indirect interest in a company constructing a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>Factors
that management used to identify the Company&#8217;s reportable segments</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The
Company&#8217;s strategic business units offer different products, and the allocation of resources and evaluation of performance is managed
separately because they require different technology.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">For
each of the strategic business units, the Company&#8217;s chief operating decision maker (&#8220;CODM&#8221;) reviews internal management
reports on at least a quarterly basis. The following summary describes the operations in each of the Company&#8217;s operating segments.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The
Company presented the photovoltaic power plants per geographical areas, as the information collected and analyzed by the CODM in connection
with the PV Plants is presented based on the physical location of the PV Plant. The CODM reviews the NIS denominated information on Dorad
and the PV Plant located in Israel and the information presented in the tables below is translated into euro. The CODM reviews the results
of Dorad according to the Company&#8217;s share in Dorad. In the reports analyzed by the CODM, the PV Plant located in Israel is presented
under the fixed asset model and not under the financial asset model as per IFRIC 12, please see the adjusted gross profit calculation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfGeographicalAreasExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfGeographicalAreasExplanatory" id="ixv-43647"><span style="font-family: Times New Roman, Times, Serif">Performance
is measured based on segment adjusted gross profit as included in reports that are regularly reviewed by the chief operating decision
maker. Segment adjusted gross profit is used to measure performance as management believes that such information is the most relevant
in evaluating the results of certain segments relative to other entities that operate within these industries.</span></ix:nonNumeric></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p></ix:nonNumeric><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Value: 87; Name: PageNo -->87<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>
</div><p style="margin: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 22
- Operating Segments </b></span><b>(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_2" id="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_1"><ix:continuation continuedAt="_DisclosureOfGeographicalAreasExplanatory-c0_cont_2" id="_DisclosureOfGeographicalAreasExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-size: 8pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Total</span></td><td style="font-size: 8pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="font-size: 8pt; vertical-align: bottom">
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    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Reconciliations</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">consolidated</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="font-size: 8pt; vertical-align: bottom">
    <td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="49" style="border-bottom: Black 1.5pt solid; font-size: 8pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>For
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  <tr style="font-size: 8pt; vertical-align: bottom">
    <td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="49" style="border-bottom: Black 1.5pt solid; font-size: 8pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>&#8364;
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p></ix:continuation></ix:continuation><div>


</div><div>


</div><!-- Field: Page; Sequence: 89; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->88<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 22
- Operating Segments </b></span><b>(cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_3" id="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_2"><ix:continuation continuedAt="_DisclosureOfGeographicalAreasExplanatory-c0_cont_3" id="_DisclosureOfGeographicalAreasExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Bio
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    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
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    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><ix:nonFraction contextRef="c741" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Revenue" scale="3" unitRef="eur" id="ixv-66744">3,264</ix:nonFraction></span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><ix:nonFraction contextRef="c742" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Revenue" scale="3" unitRef="eur" id="ixv-66745">3,597</ix:nonFraction></span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><ix:nonFraction contextRef="c745" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Revenue" scale="3" unitRef="eur" id="ixv-66748">12,640</ix:nonFraction></span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><ix:nonFraction contextRef="c746" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Revenue" scale="3" unitRef="eur" id="ixv-66749">62,813</ix:nonFraction></span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(<ix:nonFraction contextRef="c748" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Revenue" scale="3" sign="-" unitRef="eur" id="ixv-66751">63,932</ix:nonFraction></span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><ix:nonFraction contextRef="c749" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Revenue" scale="3" unitRef="eur" id="ixv-66752">52,241</ix:nonFraction></span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><ix:nonFraction contextRef="c749" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" scale="3" unitRef="eur" id="ixv-66788">12,990</ix:nonFraction></span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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</div><div>


</div><!-- Field: Page; Sequence: 90; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->89<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Note
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="border-left: Black 1.5pt solid; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><ix:nonFraction contextRef="c771" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProfitLossFromOperatingActivities" scale="3" unitRef="eur" id="ixv-66851">4,826</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Financing
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><ix:nonFraction contextRef="c771" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:FinanceIncome" scale="3" unitRef="eur" id="ixv-66852">673</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Financing
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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</div><div>


</div><!-- Field: Page; Sequence: 91; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->90<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 22 - Operating Segments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"><b>&#160;</b></p><div>

</div><ix:continuation id="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><b>Geographical
information</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">The Company is domiciled in Israel
and it operates in Israel, Spain, Italy and USA through its subsidiaries that promote, develop and own PV Plants, in the Netherlands
through its subsidiaries that own anaerobic digestion plants and also in Israel through Ellomay Luzon Energy.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfOperatingSegmentsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfOperatingSegmentsExplanatory" id="ixv-66882">The
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  <tr style="vertical-align: bottom; background-color: White">
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  </table></ix:continuation>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<ix:continuation id="_DisclosureOfOperatingSegmentsExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left">(*)</td><td style="text-align: justify"><ix:footnote id="ix_20_footnote" xml:lang="en-US">Other than financial instruments, deferred tax assets and
employee benefit assets.</ix:footnote></td>
</tr></table></ix:continuation></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 92; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->91<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory" id="ixv-49712"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Note
23 - </b></span><b>Discontinued operation and Disposal Groups Held for Sale</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 7pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">On December 31, 2023, the Company executed
an agreement to sell its holdings in the Talmei Yosef PV Plant (the &#8220;Talmei Agreement&#8221;), the entire Israel segment.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">The Talmei Agreement provides for the
sale of the Company&#8217;s holdings in the Talmei Yosef PV Plant to Greenlight Fund Limited Partnership and Doral Group Renewable Energy
Resources Ltd., in equal parts, in consideration for NIS <ix:nonFraction contextRef="c2" decimals="-4" format="ixt:num-dot-decimal" name="ifrs-full:PropertyPlantAndEquipment" scale="6" unitRef="ils" id="ixv-66895">44.75</ix:nonFraction> million (approximately &#8364;<ix:nonFraction contextRef="c798" decimals="-5" format="ixt:num-dot-decimal" name="ifrs-full:PropertyPlantAndEquipment" scale="6" unitRef="eur" id="ixv-66896">11.2</ix:nonFraction> million), with an additional potential
payment of up to NIS <ix:nonFraction contextRef="c798" decimals="-6" format="ixt:num-dot-decimal" name="ello:AdditionalPotentialPayment" scale="6" unitRef="ils" id="ixv-66897">4</ix:nonFraction> million (approximately &#8364;<ix:nonFraction contextRef="c798" decimals="-6" format="ixt:num-dot-decimal" name="ello:AdditionalPotentialPayment" scale="6" unitRef="eur" id="ixv-66898">1</ix:nonFraction> million) in the event the Talmei Yosef PV Plant will produce more than <ix:nonFraction contextRef="c799" decimals="-6" format="ixt:num-dot-decimal" name="ello:RenewableEnergyProduced" scale="6" unitRef="kwh" id="ixv-66899">18</ix:nonFraction> million
Kwh during 2024. The Agreement further provides for a cutoff date of June 30, 2023, and at closing the parties will determine whether
an adjustment to the purchase price is required reflect the Company&#8217;s entitlement to revenues (net of expenses) up to such date,
taking into account the results and the cash held by the project company. The Company does not expect a material adjustment to the purchase
price.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">The Talmei Agreement includes customary
representations and indemnification undertakings in connection with breaches of representations, which, other than with respect to customary
exceptions, are subject to a cap of NIS <ix:nonFraction contextRef="c0" decimals="-6" format="ixt:num-dot-decimal" name="ello:CustomaryException" scale="6" unitRef="ils" id="ixv-66900">9</ix:nonFraction> million (approximately &#8364;<ix:nonFraction contextRef="c0" decimals="-5" format="ixt:num-dot-decimal" name="ello:CustomaryException" scale="6" unitRef="eur" id="ixv-66901">2.2</ix:nonFraction> million) and limited to a period of 18 months from the closing
date. The consummation of the sale is subject to various customary conditions to closing, including receipt of regulatory approvals and
the consent of the financing entity of the Talmei Yosef PV Plant. All conditions to closing are required to be fulfilled within a period
of 90 days from execution of the Talmei Agreement, which can be extended to up to 150 days under certain circumstances. On April 2, 2024,
an addendum to the Talmei Agreement was executed, providing for a 45-day extension of the deadline for fulfillment of the conditions to
closing and therefore setting the deadline for May 15, 2024. The Talmei Yosef PV Plant is located in southern Israel. One of the conditions
to closing is the end of the war in southern Israel for a pre-determined period (based on the official definitions published by the Israeli
Authorities) and that the Talmei Yosef PV Plant is physically accessible. Based on the circumstances as of the date hereof, this condition
is currently fulfilled. The closing of the sale is currently expected during the second quarter of 2024. In addition, the Talmei Agreement
provides that in the event that due to the current war and hostilities in Israel the facility will be damaged or its output will decrease,
the buyers will have the right not to consummate the acquisition of the plant.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">In connection with the expected sale
of the Talmei Yosef PV Plant, the Company presents the results of the Talmei Yosef PV Plant as a discontinued operation. The assets and
liabilities of the Talmei Yosef PV Plant were presented as held for sale.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">The segment was not a discontinued operation or classified as held for sale as at December 31, 2022 and the comparative income statement
for 2022 and 2021 has been restated to show the discontinued operation separately from continuing operations. Management committed to
a plan to sell this segment at the end of 2023 following the signature of the agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">As at December 31, 2023, the disposal
groups comprised assets of &#8364;<ix:nonFraction contextRef="c798" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:OtherAssets" scale="3" unitRef="eur" id="ixv-66902">28,297</ix:nonFraction> thousand less liabilities of &#8364;<ix:nonFraction contextRef="c798" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" scale="3" unitRef="eur" id="ixv-66903">17,142</ix:nonFraction> thousand.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>A.</b></td><td style="text-align: justify"><b>Impairment
                                            losses and reversal of impairment loss</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">An impairment loss of &#8364;<ix:nonFraction contextRef="c800" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ImpairmentLoss" scale="3" unitRef="eur" id="ixv-66904">2,565</ix:nonFraction> thousand
on the re-measurement of the disposal group to the lower of its carrying amount and its fair value based on Talmei Agreement, based on
Talmei Agreement, less costs to sell has been recognized in the statement of income.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>B.</b></td><td style="text-align: justify"><b>Assets and
                                            liabilities of disposal groups held for sale</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfFinancialAssetsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfFinancialAssetsExplanatory" id="ixv-49759"><b>Assets of disposal
groups classified as held for sale</b></ix:nonNumeric></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<ix:continuation id="_DisclosureOfFinancialAssetsExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">December 31</td><td style="white-space: nowrap; text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">&#8364; in thousands</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 88%; text-align: left">Cash and cash equivalents</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right"><ix:nonFraction contextRef="c801" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" scale="3" unitRef="eur" id="ixv-66905">428</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Short-term deposits</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c801" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents" scale="3" unitRef="eur" id="ixv-66906">12</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Receivable from concession project</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c801" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:OtherReceivables" scale="3" unitRef="eur" id="ixv-66907">23,426</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Right-of-use asset</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c801" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RightofuseAssets" scale="3" unitRef="eur" id="ixv-66909">1,204</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Intangible asset</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Restricted cash and deposits</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c801" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentRestrictedCashAndCashEquivalents" scale="3" unitRef="eur" id="ixv-66911">1,694</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt">Long term receivables</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Total</td><td>&#160;</td>
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  </table></ix:continuation>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 5pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><ix:nonNumeric contextRef="c0" continuedAt="ello_ScheduleOfDisposalGroupsClassifiedAsHeldForSaleTableTextBlock-c0_cont_1" escape="true" name="ello:ScheduleOfDisposalGroupsClassifiedAsHeldForSaleTableTextBlock" id="ixv-49837"><b>Liabilities
of disposal groups classified as held for sale</b></ix:nonNumeric></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 5pt">&#160;</span></p>

<ix:continuation id="ello_ScheduleOfDisposalGroupsClassifiedAsHeldForSaleTableTextBlock-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="text-align: center; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">&#8364; in thousands</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right"><ix:nonFraction contextRef="c801" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:TradeAndOtherPayablesToTradeSuppliers" scale="3" unitRef="eur" id="ixv-66914">39</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Other payables</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Lease liability</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd. and its Subsidiaries</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Notes to
the Consolidated Financial Statements as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Note
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 7pt">&#160;</span></p><div>

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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt">Results from operating activities, net of taxes on income</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Loss on adjustment to fair value</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1.5pt">Tax benefit on loss from sale of discontinued operation</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-438">-</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: justify">Profit (loss) for the year</td><td style="font-weight: bold">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c490" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity" scale="3" unitRef="eur" id="ixv-66960">759</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: justify">Earnings per share</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right"><ix:nonFraction contextRef="c489" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:BasicEarningsLossPerShare" scale="0" unitRef="eurPershares" id="ixv-66962">0.06</ix:nonFraction></td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 4pt">Diluted earnings (loss) per share (in <span style="font-size: 10pt">&#8364;</span>)</td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
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    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right"><ix:nonFraction contextRef="c489" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:DilutedEarningsLossPerShare" scale="0" unitRef="eurPershares" id="ixv-66965">0.06</ix:nonFraction></td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right"><ix:nonFraction contextRef="c490" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:DilutedEarningsLossPerShare" scale="0" unitRef="eurPershares" id="ixv-66966">0.06</ix:nonFraction></td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: justify">Cash flows from discontinued operation</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Net cash (used in) from operating activities</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Net cash (used in) from investing activities</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 1.5pt">Net cash (used in) from financing activities</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 7pt"><b>&#160;</b></span></p><div>

</div><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory" id="ixv-50580"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 24 - Subsequent Events</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 7pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0in">On January <span style="font-family: Times New Roman, Times, Serif">16,
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&#8364;<ix:nonFraction contextRef="c802" decimals="-6" format="ixt:num-dot-decimal" name="ello:AggregateAmount" scale="6" unitRef="eur" id="ixv-66980">41</ix:nonFraction> million, as of the issuance date) of the Series F Debentures, due March 31, 2030 and Series <ix:nonFraction contextRef="c803" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:IssueOfEquity" scale="6" unitRef="eur" id="ixv-66981">2</ix:nonFraction> Options to purchase an aggregate
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net proceeds of the offering, net of related expenses such as consultancy fee and commissions, were approximately NIS 165 million (approximately
&#8364;<ix:nonFraction contextRef="c803" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:ShareIssueRelatedCost" scale="6" unitRef="eur" id="ixv-66983">40</ix:nonFraction> million as of the issuance date). The Deed of Trust governing the Series F Secured Debentures includes requirement that the
Company meet certain financial covenants and restrictions on the Company&#8217;s ability to pay dividends and additional customary provisions.
The principal amount of Series F Debentures is repayable in four non-equal installment on
March 31 in each of the years 2027 to 2030 (inclusive) as follows: in each of the principal payments in the years 2027 and 2028 a rate
of <ix:nonFraction contextRef="c804" decimals="2" format="ixt:num-dot-decimal" name="ello:PrincipalPaymentPercentage" scale="-2" unitRef="pure" id="ixv-66984">30</ix:nonFraction>% of the principal will be paid, in the principal payment in the year 2029 a rate of <ix:nonFraction contextRef="c805" decimals="2" format="ixt:num-dot-decimal" name="ello:PrincipalPaymentPercentage" scale="-2" unitRef="pure" id="ixv-66985">25</ix:nonFraction>% of the principal will be paid and in the
principal payment in the year 2030 a rate of <ix:nonFraction contextRef="c806" decimals="2" format="ixt:num-dot-decimal" name="ello:PrincipalPaymentPercentage" scale="-2" unitRef="pure" id="ixv-66986">15</ix:nonFraction>% of the principal will be paid. The Series F Debentures bear a fixed annual interest
at the rate of <ix:nonFraction contextRef="c803" decimals="3" format="ixt:num-dot-decimal" name="ello:DebenturesFixedInterestRate" scale="-2" unitRef="pure" id="ixv-66987">5.5</ix:nonFraction>% (that is not linked to the Israeli CPI or otherwise), payable semi-annually on March 31 and September 30, commencing
March 31, 2024 through March 31, 2030 (inclusive).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 7pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0in">On April 17,
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value of its unsecured non-convertible Series F Debentures, in a private placement to Israeli classified investors for an aggregate
gross consideration of approximately NIS <ix:nonFraction contextRef="c808" decimals="-5" format="ixt:num-dot-decimal" name="ello:AggregateGrossConsideration" scale="6" unitRef="ils" id="ixv-66989">37.8</ix:nonFraction> million, reflecting a price of NIS <ix:nonFraction contextRef="c808" decimals="3" format="ixt:num-dot-decimal" name="ello:AggregateGrossConsiderationPricePerShare" scale="0" unitRef="ilsPershares" id="ixv-66990">0.946</ix:nonFraction> per NIS <ix:nonFraction contextRef="c808" decimals="0" format="ixt:num-dot-decimal" name="ello:PrincipalAmount" scale="0" unitRef="ils" id="ixv-66991">1</ix:nonFraction> principal amount Series F Debentures. Following completion of the private placement, the aggregate outstanding par value of the Company&#8217;s
Series F Debentures is NIS <ix:nonFraction contextRef="c809" decimals="-6" format="ixt:num-dot-decimal" name="ifrs-full:NotesAndDebenturesIssued" scale="6" unitRef="ils" id="ixv-66992">210</ix:nonFraction> million.</p></ix:nonNumeric><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 7pt"><b>&#160;</b></span></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify"></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 14pt"><b>Dorad
Energy Ltd.</b></span></p><div>

</div><p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 14pt"><b>&#160;</b></span></p><div>

</div><p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 14pt"><b>Financial
Statements</b></span></p><div>

</div><p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 14pt"><b>&#160;</b></span></p><div>

</div><p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 14pt"><b>For
the Year Ended December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>




</div><!-- Field: Page; Sequence: 95 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="margin: 0pt">&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contents</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="padding-bottom: 1.5pt; width: 87%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; width: 1%">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; width: 12%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Page</b></span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><a href="#f_001"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Auditors&#8217; Report</span></a></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FD-3</span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><a href="#f_002"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statements of Financial Position</span></a></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FD-5</span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><a href="#f_003"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statements of Profit or Loss</span></a></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FD-6</span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><a href="#f_004"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statements of Changes in Equity</span></a></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FD-7</span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#f_005">Statements of Cash Flows</a></span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FD-8</span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#f_006">Notes to the Financial Statements</a></span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FD-9&#160;&#8211;&#160;FD-50</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><!-- Field: Page; Sequence: 96; Options: NewSection; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><img alt="" src="image_004.jpg"/></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Somekh
Chaikin</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">KPMG
Millennium Tower</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17
Ha&#8217;arba&#8217;a Street, PO Box 609</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tel
Aviv 61006, Israel</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">+972
3 684 8000</span></p><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><div><a id="f_001"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Independent
Auditors&#8217; Report</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">The
Board of Directors<br/>
Dorad Energy Ltd.</span></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Opinion</i></b></span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have audited the financial statements of Dorad Energy Ltd (&#8220;the Company&#8221;), which comprise the statements of financial position
as of December&#160;31, 2023 and 2022 and the related statements of profit or loss, changes in equity, and cash flows for the years then
ended, and the related notes to the financial statements.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as
of December 31, 2023 and 2022, and its financial performance and its cash flows for the years then ended in accordance with International
Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Basis
for Opinion </i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities
under those standards are further described in the Auditors&#8217; Responsibilities for the Audit of the Financial Statements section
of our report. We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the
relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis for our audit opinion.</span></p><div>

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</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Responsibilities
of Management for the Financial Statements</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
is responsible for the preparation and fair presentation of the financial statements in accordance with IFRS as issued by the IASB, and
for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements
that are free from material misstatement, whether due to fraud or error.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate,
that raise significant doubt about the Company&#8217;s ability to continue as a going concern for one year after the date that the financial
statements are authorized for issuance.</span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal"><b>&#160;</b></span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Auditors&#8217;
Responsibilities for the Audit of the Financial Statements</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement,
whether due to fraud or error, and to issue an auditors&#8217; report that includes our opinion. Reasonable assurance is a high level
of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always
detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than
for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate,
they would influence the judgment made by a reasonable user based on the financial statements.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">KPMG
                                                                                        Somekh Chaikin, an Israeli partnership and a member firm of the KPMG global organization of independent member firms affiliated with
                                                                                        KPMG International Limited, a private English company limited by guarantee</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img alt="" src="image_004.jpg"/>&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Somekh
Chaikin	</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">KPMG
Millennium Tower		</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17
Ha&#8217;arba&#8217;a Street, PO Box 609		</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tel
Aviv 61006, Israel			</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">+972
3 684 8000</span></p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
performing an audit in accordance with GAAS, we:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercise
professional judgment and maintain professional skepticism throughout the audit.</span></td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Identify
and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit
procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements.</span></td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Obtain
an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances,
but not for the purpose of expressing an opinion on the effectiveness of the Company&#8217;s internal control. Accordingly, no such opinion
is expressed.</span></td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Evaluate
the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well
as evaluate the overall presentation of the financial statements.</span></td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Conclude
whether, in our judgment, there are conditions or events, considered in the aggregate, that raise significant doubt about the Company&#8217;s
ability to continue as a going concern for a reasonable period of time.</span></td>
</tr></table><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal">We
are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit,
significant audit findings, and certain internal control related matters that we identified during the audit. </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>/s/
Somekh Chaikin</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Somekh
Chaikin 	<br/>
Member Firm of KPMG International</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tel
Aviv<br/>
February 29, 2024</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">KPMG
                                                                                        Somekh Chaikin, an Israeli partnership and a member firm of the KPMG global organization of independent member firms affiliated with
                                                                                        KPMG International Limited, a private English  company limited by guarantee</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><div><a id="f_002"></a></div><p style="border-bottom: Black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Statements
of Financial Position</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; text-align: center">&#160;</td>
    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">December 31</td><td style="white-space: nowrap; text-align: center; font-weight: bold">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">December 31</td><td style="white-space: nowrap; text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt">&#160;</td>
    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
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    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Note</td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">NIS&#160;thousands</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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<tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-align: left">Current assets</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
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    <td style="width: 64%; text-align: left">Cash and cash equivalents</td><td style="width: 1%">&#160;</td>
    <td style="width: 11%; text-align: center">4</td><td style="width: 1%; font-weight: bold">&#160;</td>
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">151,481</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: center">5</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">211,866</td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">238,581</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Other receivables</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="text-align: center; padding-bottom: 1.5pt">6</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">12,095</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">32,809</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Total current assets</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="text-align: center; padding-bottom: 1.5pt">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">443,207</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">422,871</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: center; padding-bottom: 1.5pt">18</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: center">9</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">166,089</td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: center; padding-bottom: 1.5pt">10</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: center; padding-bottom: 1.5pt">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">524,058</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">1,995,909</td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">12,943</td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: center">18</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">47,618</td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">38,985</td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: center">11</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">278,095</td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">215,016</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: center; padding-bottom: 1.5pt">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">160</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">160</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
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    <td style="text-align: center; padding-bottom: 1.5pt">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td>&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">11</td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: center; padding-bottom: 1.5pt">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td>&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">4,165,172</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">4,286,572</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table><div>


</div><p style="margin: 0">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
of approval of the financial statements February 29, 2024.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of the financial statements.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

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</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

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    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; text-align: center">&#160;</td>
    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of the financial statements.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>


</div><!-- Field: Page; Sequence: 100; Value: 2 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><div><a id="f_004"></a></div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Statements
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

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  <tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold">&#160;</td><td>&#160;</td>
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    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of the financial statements.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><div><a id="f_005"></a></div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Statements
of Cash Flows for the Year Ended December 31 </b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td>&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td>&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The accompanying notes are an integral part of the financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 102; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Dorad Energy Ltd.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="f_006"></a></div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Notes to the Financial Statements
as at December 31, 2023</b></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 1 - General</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>A.</b></td><td style="text-align: justify"><b>Reporting entity</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Dorad Energy Ltd. (hereinafter - &#8220;the
Company&#8221;) was incorporated on November 25, 2002, with the aim of engaging in the production of electricity and construction of the
infrastructure required for said operation. The Company&#8217;s official address is 13 Ben Gurion Street, Bnei Brak.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company&#8217;s shareholders are as follows:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Eilat Ashkelon Infrastructure Services
Ltd. (hereinafter &#8211; EAIS) &#8211; 37.5%</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Zorlu Enerji Elektrik Uretim A.S (a
foreign company) (hereinafter &#8211; Zorlu) &#8211; 25%</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Ellomay Luzon Infrastructure Energy
Ltd. (hereinafter &#8211; &#8220;Ellomay&#8221;) &#8211; 18.75%</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Edelcom Ltd. (hereinafter &#8211; Edelcom)
&#8211; 18.75%</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>B.</b></td><td style="text-align: justify"><b>Definitions</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In these financial statements &#8211;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1in">&#160;</td>
    <td style="width: 0.5in; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Related party - As defined in International Accounting Standard 24 (Revised 2009) regarding related parties.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1in">&#160;</td>
    <td style="width: 0.5in; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interested parties &#8211; Within their meaning in Paragraph (1) of the definition of an &#8220;interested party&#8221; in Section 1 of the Securities Law - 1968.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1in">&#160;</td>
    <td style="width: 0.5in; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All references to laws, regulations, court proceedings refer to the State of Israel, unless otherwise indicated.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 47px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Licenses and legal environment</b></span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -34.9pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1in">&#160;</td>
    <td style="width: 48px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The construction of the power plant was officially designated a &#8220;National Infrastructure&#8221; Project, as defined in paragraph 1 of the Planning and Building Law-1965 by the Prime Minister, Minister of Finance and Minister of the Interior. In July 2009, the Licensing Authority of the National Planning and Construction Board for National Infrastructures approved the building permit for the establishment of a power station. (Building License No. 2-01-2008).</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">On April 13, 2014, upon completing the
construction of the power plant, the Public Utilities Authority - Electricity (&#8220;PUA&#8221;) passed a resolution by which a permanent
production license and a supply license will be granted to the Company, subject to the approval of the Minister of National Infrastructure,
Energy and Water (&#8220;Minister of Energy&#8221;). Accordingly, on May 12, 2014, the Company was issued production licenses for 20 years
with an option to extend for an additional period and a supply license for one year. On May 19, 2014, after receiving the licenses, the
Company began commercial operation of the station.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">On August 12, 2014, the Company filed
a request to extend the supply license for an additional 19 years. On July&#160;13, 2015, after the Company filed a petition with the
High Court of Justice against the Minister of National Infrastructures and the Public Electricity Services Authority for issuance of a
conditional order that will require extending the license for the said period, the license was received, which is effective up to May&#160;11,
2034.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 103; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Dorad Energy Ltd.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Notes to the Financial Statements
as at December 31, 2023</b></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 1 - General (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>C.</b></td><td style="text-align: justify"><b>Licenses and legal environment (cont&#8217;d)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1in">&#160;</td>
    <td style="width: 48px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 26, 2022, the PUA published a decision regarding &#8220;Electricity Rates for Customers of IEC in 2023&#8221; by which the average production component will decrease by about 0.7%, compared with the average production component published by the PUA in August 2022 and which was valid up to and including the month of December 2022. On January 26, 2023, the PUA published an update to the aforementioned decision according to which the average production component decreased by approximately 1.2% compared with the aforementioned rate. On March 26, 2023, the PUA published an update to the aforementioned decision according to which the average production component decreased by about 1.4% compared with the rate in the previous decision, which came into effect as of April 1, 2023, and for the rest of 2023 (see also Note 12.A.15). After the reporting date, on January 29, 2024, the PUA published a decision regarding &#8220;Electricity Rates for Customers of IEC in 2024&#8221; by which the average production component will decrease by about 1% compared with the average production component published by the PUA in March 2023 and which was valid up to and including January 2024.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>D.</b></td><td style="text-align: justify"><b>Iron Swords war</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On October 7, 2023, a surprise attack
was launched by the Hamas terrorist organization against the State of Israel, following which an extensive mobilization of reserves was
carried out and the Israeli government declared a state of war (&#8220;Iron Swords War&#8221;). During the days of fighting, thousands of
rockets were launched towards the State of Israel, and shrapnel fell several times in the territory of the power plant, which caused immaterial
damage to property and equipment but did not impact the regular operation of the power plant.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The security situation resulted in a
decrease in the scope of economic and business activity in the country and caused, among other things, a disruption in the supply and
production chain, a decrease in the scope of national transportation, a shortage of personnel as well as a decrease in the value of financial
assets and an increase in the exchange rate of foreign currencies relative to the shekel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company estimates at this stage,
based on the information it has as of the date of approval of the financial statements, that the current events and the security escalation
in Israel have an impact on its results but that the impact on its short-term business results will be immaterial. Since this is an event
that is not under the control of the Company and matters such as the fighting continuing or stopping may affect the Company&#8217;s assessments,
as at the reporting date the Company is unable to assess the extent of the effect of the war on its business activities and on its medium
and long term results. The Company is continuing to regularly follow developments on the matter and is examining the effects on its operations
and the value of its assets.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 104; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Dorad Energy Ltd.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Notes to the Financial Statements
as at December 31, 2023</b></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 2 - Basis of Preparation</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 48px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Declaration of compliance with international financial reporting standards.</b></span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">These financial statements have been
prepared by the Company, in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting
Standards Board (IASB). These financial statements were authorized for issue by the Company&#8217;s Board of Directors on February 29,
2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 48px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Functional and presentation currency</b></span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">These financial statements are presented
in NIS, which is the Company&#8217;s functional currency, and have been rounded to the nearest thousand. The NIS is the currency that
represents the principal economic environment in which the Company operates.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
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    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basis of measurement</b></span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The financial statements have been prepared
on the historical cost basis except for the following assets and liabilities:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1in">&#160;</td>
    <td style="width: 48px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative financial instruments measured at fair value through profit or loss.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1in">&#160;</td>
    <td style="width: 48px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred tax liabilities.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1in">&#160;</td>
    <td style="width: 48px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provisions</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">For further information regarding the basis of measurement
of the above assets and liabilities, see Note 3, regarding Significant Accounting Policies.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 48px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.</b></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Use of estimates and judgments</b></span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The preparation of financial statements
in conformity with IFRSs requires management to make judgments, estimates and assumptions that affect the application of accounting policies
and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The preparation of accounting estimates
used in the preparation of the Company&#8217;s financial statements requires management to make assumptions regarding circumstances and
events that involve considerable uncertainty. Management of the Company prepares the estimates on the basis of past experience, various
facts, external circumstances, and reasonable assumptions according to the pertinent circumstances of each estimate. Estimates and underlying
assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are
revised and in any future periods affected. Information about assumptions made by the Company with respect to the future and other reasons
for uncertainty with respect to estimates that have a significant risk of resulting in a material adjustment to carrying amounts of assets
and liabilities in the next financial year are included in the following notes:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>Useful lives of fixed assets and
residual value</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On May 19, 2014, the construction of
the power plant was completed and is available for use as of that date and therefore as of that date, the systematic depreciation of the
power plant began. Accordingly, the Company examined the useful life of each significant component of fixed assets as described in Note
3.C.3 below considering the expected residual value at the end of the useful life. The estimated residual value, depreciation method and
useful life, are evaluated by the Company, at least once per reporting year and adjusted when necessary.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 105; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Dorad Energy Ltd.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Notes to the Financial Statements
as at December 31, 2023</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 2 - Basis of Preparation (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 48px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.</b></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Use of estimates and judgments (cont&#8217;d)</b></span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in"><i>Assessment of
the probability of contingent liabilities</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company creates provisions or reverses
provisions in respect of contingent liabilities Among other things, based on the premise whether it is more likely than not that an outflow
of economic resources will be required in respect of those liabilities. See Note 12.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>E.</b></td><td style="text-align: justify"><b>Operating cycle period</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company&#8217;s normal operating
cycle is one year. As a result, current assets and current liabilities include items the realization of which will take place within the
Company&#8217;s normal operating cycle.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><b>Note 3 - Significant Accounting Policies</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The accounting policies set out below
have been applied consistently by the Company for all periods presented in these financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>A.</b></td><td style="text-align: justify"><b>Foreign currency transactions</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Transactions in foreign currencies are
translated to the respective functional currency of the Company at exchange rates at the dates of the transactions. Monetary assets and
liabilities denominated in foreign currencies at the reporting date are translated to the functional currency at the exchange rate at
that date. The foreign currency gain or loss on monetary items is the difference between amortized cost in the functional currency at
the beginning of the year, adjusted for effective interest and payments during the year, and the amortized cost in foreign currency translated
at the exchange rate at the end of the year.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>B.</b></td><td style="text-align: justify"><b>Financial instruments</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><b>1.</b></td><td style="text-align: justify"><b>Non-derivative financial assets</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><b>Classification and measurement of financial
assets and financial liabilities, initial recognition and measurement </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The Company initially recognizes trade
receivables at the time of their creation. The rest of the financial assets and financial liabilities are initially recognized on the
date that the Company becomes a party to the contractual terms of the instrument. In general, a financial asset is initially measured
at fair value plus, in the case of a financial asset not presented at fair value through profit and loss, transaction costs directly attributable
to the acquisition or issue of the financial asset. A trade receivable that does not include a significant financing component is initially
measured at the transaction price.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><b>Financial assets - classification and
subsequent measurement</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The Company has balances of trade receivables
and other receivables held within the framework of a business model whose objective is the collection of contractual cash flows. The contractual
cash flows in respect of these financial assets include only principal and interest payments reflecting consideration for the time value
of the money and the credit risk. Accordingly, these financial assets are measured at amortized cost and their effect is carried to profit
and loss.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 106; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Dorad Energy Ltd.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Notes to the Financial Statements
as at December 31, 2023</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 3 - Significant Accounting Policies (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>B.</b></td><td style="text-align: justify"><b>Financial instruments (cont&#8217;d)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><b>1.</b></td><td style="text-align: justify"><b>Non-derivative financial assets (cont&#8217;d)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><b><i>Derecognition of financial assets</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">Financial assets are derecognized when
the contractual rights of the Company to the cash flows from the asset expire, or the Company transfers the rights to receive the contractual
cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset
were transferred. When the Company retains substantially all of the risks and rewards of ownership of the financial asset, it continues
to recognize the financial asset.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><b>2.</b></td><td style="text-align: justify"><b>Non-derivative financial liabilities</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">Non-derivative financial liabilities include
loans and borrowings from banks, lease liabilities, and trade and other payables.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="text-decoration:underline">Initial recognition of financial liabilities</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The Company initially recognizes debt
securities issued on the date that they are originated. All other financial liabilities are recognized initially on the trade date at
which the Company becomes a party to the contractual provisions of the instrument.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="text-decoration:underline">Subsequent measurement of financial
liabilities</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">Financial liabilities are recognized initially
at fair value less any directly attributable transaction costs. Subsequent to initial recognition these financial liabilities are measured
at amortized cost using the effective interest method.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="text-decoration:underline">Derecognition of financial liabilities</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">Financial liabilities are derecognized
when the obligation of the Company, as specified in the agreement, expires or when it is discharged or cancelled.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="text-decoration:underline">Offset of financial instruments</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">Financial assets and liabilities are offset,
and the net amount presented in the statement of financial position when, and only when, the Company currently has a legal right to offset
the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1in">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="text-decoration:underline">Economic hedging</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">Hedge accounting is not applied to derivative
instruments used to economically hedge financial assets and financial liabilities denominated in foreign currency. Changes in the fair
value of these derivatives are recognized in profit or loss, as financing income or expenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><b>4.</b></td><td style="text-align: justify"><b>CPI-linked assets and liabilities that are not measured
at fair value</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The value of CPI-linked financial assets
and liabilities, which are not measured at fair value, is remeasured every period in accordance with the actual increase/decrease in the
CPI.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><!-- Field: Page; Sequence: 107; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence -->&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Dorad Energy Ltd.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Notes to the Financial Statements
as at December 31, 2023</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 3 - Significant Accounting Policies (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 48px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fixed assets</b></span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1in">&#160;</td>
    <td style="width: 48px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Recognition and measurement</b></span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">Fixed asset items are measured at cost
less accumulated depreciation and accumulated impairment losses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The cost of self-constructed assets includes
costs directly attributable to the assets, direct labor, any other costs directly attributable to bringing the assets to a working condition
for their intended use, estimates of dismantling and restoration costs of the items, and capitalized borrowing costs. During the commissioning
period, the Company capitalized costs and revenues incurred as a result of competence tests attributed to the power plant.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">Spare parts, auxiliary equipment and backup
equipment are classified as fixed assets once they meet the definition of fixed assets in accordance with IAS 16, otherwise they are classified
as inventory.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">When major parts of a fixed asset item
(including costs of major periodic inspections) have different useful lives, they are accounted for as separate items (major components)
of fixed assets. Gains and losses on disposal of a fixed asset item are determined by comparing the proceeds from disposal with the carrying
amount of the asset and are recognized net within &#8220;other income&#8221; or &#8220;other expenses&#8221;, as relevant, in profit or
loss.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">Changes in the obligation to dismantle
and remove the items and to restore the site on which they are located, other than changes deriving from the passing of time, are added
to or deducted from the cost of the asset in the period in which they occur. The amount deducted from the cost of the asset shall not
exceed the balance of the carrying amount, and any balance is recognized immediately in profit or loss.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><b>2.</b></td><td style="text-align: justify"><b>Subsequent costs</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The cost of replacing part of a fixed
asset item and other subsequent expenses are capitalized if it is probable that the future economic benefits associated with them will
flow to the Company and their cost can be measured reliably. The carrying amount of the replaced part of a fixed asset item is derecognized.
The costs of day-to-day servicing are recognized in profit or loss as incurred.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1in">&#160;</td>
    <td style="width: 48px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3.</b></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Depreciation</b></span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">An asset is depreciated from the date
it is ready for use, meaning the date it reaches the location and condition required for it to operate in the manner intended by management.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">As mentioned in Note 1.C.1 the Company
began depreciating the fixed assets on the day the power plant began operating in accordance with the depreciation rates listed below.
Depreciation is recognized in the profit and loss statement on a straight-line basis (unless otherwise stated) over the estimated useful
life of each significant part of the fixed asset, since this method most closely reflects the expected pattern of consumption of the future
economic benefits embodied in the asset.<span style="clear: both; display: block;"><br/></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 108; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Dorad Energy Ltd.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 1.5pt solid"><b>Notes to the Financial Statements
as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 3 - Significant Accounting Policies (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 48px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fixed assets (cont&#8217;d)</b></span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1in">&#160;</td>
    <td style="width: 48px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3.</b></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Depreciation (cont&#8217;d)</b></span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The estimated useful lives for the current
period are as follows:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center">&#160;</td>
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: center"><b>Depreciation rates</b></td><td style="padding-bottom: 1.5pt; text-align: center">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 88%; text-align: justify">Buildings and permanent connections</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="white-space: nowrap; width: 9%; text-align: center">4%</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Turbine components</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4% or by operating hours</span></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Machinery, equipment and apparatus</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mainly
4</span>%</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Monitoring station</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="white-space: nowrap; text-align: center">10%</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Spare parts</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="white-space: nowrap; text-align: center">4%</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Backup diesel</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon usage</span></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Leasehold improvements</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="white-space: nowrap; text-align: center">10%</td><td style="text-align: left">&#160;</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">Depreciation methods, useful lives and
residual values are reviewed at the end of each reporting year and adjusted when necessary.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>D.</b></td><td style="text-align: justify"><b>Impairment</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><span style="text-decoration:underline">Non-financial assets</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Timing of impairment testing</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The carrying amounts of the Company&#8217;s
non-financial assets, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication
exists, then the asset&#8217;s recoverable amount is estimated.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Determining cash-generating units</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">For the purpose of impairment testing,
assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing
use that are largely independent of the cash inflows of other assets or groups of assets (the &#8220;cash-generating unit&#8221;).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Measurement of recoverable amount
</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The recoverable amount of an asset or
cash-generating unit is the greater of its value in use and its fair value less costs of disposal. In assessing value in use, the estimated
future cash flows are discounted to their present value using a pre-tax discount rate that reflects the assessments of market participants
regarding the time value of money and the risks specific to the asset or cash-generating unit, for which the estimated future cash flows
from the asset or cash-generating unit were not adjusted.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>E.</b></td><td style="text-align: justify"><b>Provisions</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">A provision is recognized if, as a result
of a past event, the Company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an
outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash
flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The
carrying amount of the provision is adjusted each period to reflect the time that has passed and is recognized as a financing expense.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Provision for decommissioning and
restoration</span> &#8211; The Company recognized a provision for decommissioning and restoration costs regarding its obligation under the
lease agreement of the land on which the power plant is located. Changes to this provision arising from changes in the interest rate are
recognized against the fixed assets.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></p><div>

</div><!-- Field: Page; Sequence: 109; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Dorad Energy Ltd.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 1.5pt solid"><b>Notes to the Financial Statements
as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><b>Note 3 - Significant Accounting Policies (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>F.</b></td><td style="text-align: justify"><b>Indemnification asset</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company recognizes indemnification assets for damages
and faults caused to turbines at the power plant and for loss of profits if it is virtually certain that the indemnity will be received.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>G.</b></td><td style="text-align: justify"><b>Revenues</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company&#8217;s revenues mainly
include revenues from selling electricity to end customers and to the IEC and from providing availability to the system manager.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company recognizes revenues when
the customer obtains control over the promised goods or services, when the electricity reaches the customers and when the availability
is put at the disposal of the system manager. The revenue is measured according to the amount of the consideration to which the Company
expects to be entitled in exchange for the goods or services promised to the customer, other than amounts collected for third parties.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>Identifying the contract
</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company accounts for a contract with a customer only
when the following conditions are met:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
parties to the contract have approved the contract (in writing, orally or according to other customary business practices) and they are
committed to satisfying the obligations attributable to them.</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1.5in">&#160;</td>
    <td style="width: 0.5in; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1.5in">&#160;</td>
    <td style="width: 0.5in; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1.5in">&#160;</td>
    <td style="width: 0.5in; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span></td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1.5in">&#160;</td>
    <td style="width: 0.5in; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</span></td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">For the purpose of paragraph (e) the
Company examines, inter alia, the spread of the contractual payments, past experience with the customer and the status and existence of
sufficient collateral.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><b>Identifying
performance obligations</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On the contract&#8217;s inception date,
the Company assesses the goods or services promised in the contract with the customer and identifies as a performance obligation any promise
to transfer to the customer one of the following:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1.5in">&#160;</td>
    <td style="width: 0.5in; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1.5in">&#160;</td>
    <td style="width: 0.5in; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company identifies goods or services
promised to the customer as being distinct when the customer can benefit from the goods or services on their own or in conjunction with
other readily available resources and the Company&#8217;s promise to transfer the goods or services to the customer is separately identifiable
from other promises in the contract. In order to examine whether a promise to transfer goods or services is separately identifiable, the
Company examines whether it is providing a significant service of integrating the goods or services with other goods or services promised
in the contract into one integrated outcome that is the purpose of the contract. In contracts with customers for the sale of electricity,
the Company has identified one performance obligation in each contract.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 110; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Dorad Energy Ltd.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 1.5pt solid"><b>Notes to the Financial Statements
as at December 31, 2023</b></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 3 - Significant Accounting Policies (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>G.</b></td><td style="text-align: justify"><b>Revenues (cont&#8217;d)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>Variable consideration</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The transaction price includes fixed
amounts and amounts that may change as a result of discounts, refunds, credits, price concessions, incentives, performance bonuses, penalties,
claims and disputes and contract modifications that the consideration in their respect has not yet been agreed by the parties.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company includes variable consideration,
or part of it, in the transaction price only when it is highly probable that its inclusion will not result in a significant revenue reversal
in the future when the uncertainty has been subsequently resolved. At the end of each reporting period and if necessary, the Company revises
the amount of the variable consideration included in the transaction price.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>Satisfaction of performance obligations</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Revenue is recognized when the Company
satisfies a performance obligation by transferring control over promised goods or services to the customer. The Company transfers control
over the services at a point in time, and accordingly recognizes revenues at a point in time.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>Determining the transaction
price</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The transaction price is the amount
of consideration that the Company expects to be entitled to in exchange for the transfer of goods or services promised to the customer,
other than amounts collected for the benefit of third parties. When determining the transaction price, the Company takes into account
the effects of all of the following: variable consideration and consideration payable to the customer.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>H.</b></td><td style="text-align: justify"><b>Income tax expense</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Income tax expense is comprised of deferred
taxes.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Deferred taxes are recognized with respect
to temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used
for taxation purposes. The measurement of deferred tax reflects the tax consequences that would follow the manner in which the Company
expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. The measurement of
deferred taxes reflects the tax consequences that will result from the way the Company expects, at the end of the reporting period, to
restore or remove the carrying amounts of assets and liabilities. Deferred tax is measured at the tax rates expected to apply to the temporary
differences when they reverse, based on the laws that have been enacted or substantively enacted by the reporting date. A deferred tax
asset is recognized for tax loss carry forwards, tax benefits and deductible temporary differences, to the extent that it is probable
that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date
and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Deferred tax assets and liabilities are offset if there is
a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority
on the same taxable entity.<span style="clear: both; display: block;"><br/></span>
</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 111; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Dorad Energy Ltd.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 1.5pt solid"><b>Notes to the Financial Statements
as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 3 - Significant Accounting Policies (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>I.</b></td><td style="text-align: justify"><b>Leases</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(1)</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Determining
whether an arrangement contains a lease</b></span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">On the inception date of the lease,
the Company determines whether the arrangement is a lease or contains a lease, while examining if it conveys the right to control the
use of an identified asset for a period of time in exchange for consideration. In its assessment of whether an arrangement conveys the
right to control the use of an identified asset, the Company assesses whether it has the following two rights throughout the lease term:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.5in"/><td style="width: 0.5in; text-align: left">(a)</td><td style="text-align: justify">The right to obtain substantially all the economic benefits
from use of the identified asset; and</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.5in"/><td style="width: 0.5in; text-align: left">(b)</td><td style="text-align: justify">The right to direct the identified asset&#8217;s use.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">For lease contracts that contain non-lease
components, such as management fees, that are related to a lease component, the Company elected to account for the contract as a separate
component from the lease.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1in">&#160;</td>
    <td style="width: 0.5in; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(2)</b></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Leased assets and lease liabilities</b></span></td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">Contracts that award the Company control
over the use of a leased asset for a period of time in exchange for consideration, are accounted for as leases. Upon initial recognition,
the Company recognizes a liability at the present value of the balance of future lease payments (these payments do not include certain
variable lease payments that do not depend on an index or a rate), and concurrently recognizes a right-of-use asset at the same amount
of the lease liability, adjusted for any prepaid or accrued lease payments, plus initial direct costs incurred in respect of the lease.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">Since the interest rate implicit in
the Company&#8217;s leases is not readily determinable, the incremental borrowing rate of the lessee is used. Subsequent to initial recognition,
the right-of-use asset is accounted for using the cost model and depreciated over the shorter of the lease term or useful life of the
asset.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1in">&#160;</td>
    <td style="width: 0.5in; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(3)</b></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The lease terms</b></span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The lease term is the non-cancellable
period of the lease plus periods covered by an extension or termination option if it is reasonably certain that the lessee will or will
not exercise the option, respectively.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 1in">&#160;</td>
    <td style="width: 0.5in; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(4)</b></span></td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">Variable lease payments that depend
on an index or a rate, are initially measured using the index or rate existing at the commencement of the lease and are included in the
measurement of the lease liability. When the cash flows of future lease payments change as the result of a change in an index, the balance
of the liability is adjusted against the right-of-use asset.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 112; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence -->&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Dorad Energy Ltd.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 1.5pt solid"><b>Notes to the Financial Statements
as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 3 - Significant Accounting Policies (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>I.</b></td><td style="text-align: justify"><b>Lease (cont&#8217;d)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 96px">&#160;</td>
    <td style="width: 0.5in; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(5)</b></span></td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">After lease commencement, a right-of-use
asset is measured on a cost basis less accumulated depreciation and accumulated impairment losses and is adjusted for re-measurements
of the lease liability. Depreciation is calculated on a straight-line basis over the useful life or contractual lease period, whichever
earlier, as follows: land 20.4 years, and offices 3.5 years.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>J.</b></td><td style="text-align: justify"><b>Financing income and expenses</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Financing expenses include interest
expenses on borrowings, fees and changes in time value of provisions. In the statements of cash flows, interest received is presented
as part of cash flows from investing activities. Interest paid and dividends paid are presented as part of cash flows from financing activities.
Foreign currency gains and losses on financial assets and financial liabilities, changes in the fair value of financial assets at fair
value through profit or loss, and gains (losses) on hedging instruments that are recognized in profit or loss are reported on a net basis
as either financing income or financing expenses depending on whether foreign currency movements are in a net gain or net loss position.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>K.</b></td><td style="text-align: justify"><b>Initial application of new standards, amendments to standards
and interpretations</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(1)</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Amendment
to IAS 12, Income Taxes: <span style="background-color: white">Deferred Tax related to Assets and Liabilities arising from a Single Transaction</span></i></b></span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The Amendment narrows the scope of
the exemption from recognizing deferred taxes as a result of temporary differences created at the initial recognition of assets and/or
liabilities, so that it does not apply to transactions that give rise to equal and offsetting temporary differences. &#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">As a result, the company will need
to recognize a deferred tax asset or a deferred tax liability for these temporary differences at the initial recognition of transactions
that give rise to equal and offsetting temporary differences, in lease transactions and provisions for decommissioning and restoration.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The Amendment is applicable for annual
periods beginning on January 1, 2023, for deferred taxes arising from leases and liabilities for decommissioning and restoration. The
application of the amendment did not have a material effect on the financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"><i>&#160;</i></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 96px">&#160;</td>
    <td style="width: 0.5in; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(2)</b></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Amendment to IFRS 16, Leases: Lease Liability in a Sale and Leaseback</i></b></span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The amendment clarifies the accounting
treatment of variable payments of a seller-lessee in a sale and leaseback transaction. According to the amendment, a seller-lessee shall
include estimates of variable lease payments upon the initial measurement of the lease liability, and subsequent to initial recognition,
it shall apply the subsequent measurement requirements to the lease liability, in a way that it does not recognize any gain or loss that
relates to the right-of-use it retains.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The amendment is applicable as from
January 1, 2024, with possibility for early adoption. In the opinion of the Company, application of the amendment is not expected to have
a material effect.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Dorad Energy Ltd.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 1.5pt solid"><b>Notes to the Financial Statements
as at December 31, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 4 - Cash and Cash Equivalents</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap; text-align: left">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap; text-align: left">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 5 - Trade Receivables and Accrued Income</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 6 - Other Receivables</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="6" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31</td><td style="white-space: nowrap; text-align: center; font-weight: bold">&#160;</td></tr>
<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 4pt">&#160;</td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 114; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence -->&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
7 - Fixed Assets</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Composition</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
  <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;<br/>
  &#160;</span></td>
  <td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;<br/>
  &#160;</span></td>
  <td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;<br/>
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  <td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;<br/>
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  <td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;<br/>
  &#160;</span></td>
  <td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;<br/>
  &#160;</span></td>
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  <td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;<br/>
  &#160;</span></td>
  <td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;<br/>
  &#160;</span></td>
  <td colspan="2" style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;<br/>
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  <td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;<br/>
  &#160;</span></td>
</tr>
<tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
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    <td colspan="2"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; width: 53%"><span style="font-family: Times New Roman, Times, Serif">Balance
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><span style="font-family: Times New Roman, Times, Serif">Additions</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,906,924</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Depreciation
    and impairment losses</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"/><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Depreciation
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">85</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Disposals</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(37,294</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">)</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(37,294</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,603,023</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,095</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">671</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,606,789</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Depreciation
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(44,086</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Balance
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    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">756</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,800,374</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Carrying
    amounts</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">As
    at December 31, 2022</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,252,632</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">165</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,253,196</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">As
    at December 31, 2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,106,063</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">407</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">80</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,106,550</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Liens</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
Note 12.C regarding a lien on the Company&#8217;s assets that serves as security for the liabilities of the Company and the shareholders
to the funding groups.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified
                                            - Deductions were made of the cost and the accumulated depreciation in identical amounts,
                                            for old assets that were fully depreciated in previous periods.</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Provision
                                            for restoration and decommissioning</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
2023, an update was made to the liability for restoration and decommissioning against a decrease in fixed assets in the amount of approximately
NIS 11 million.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p><div>

</div><!-- Field: Page; Sequence: 115; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
8 - Loans from Banks</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>C.</b></td><td style="text-align: justify"><b>Provision for restoration and decommissioning (cont&#8217;d)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
note provides information regarding the contractual terms of the Company&#8217;s bank loans measured at amortized cost. Further information
on the Company&#8217;s exposure to interest and liquidity risks is included in Note 17 on financial instruments (see Note 12.A.1).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Loans
and borrowings - details regarding interest rates and linkage</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Currency
    and</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31,<br/>
    2023<br/>
Effective</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Carrying
    amount as at December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">linkage
    base</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif"> interest</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td>
    <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>%</b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>NIS&#160;thousands</b></span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>NIS&#160;thousands</b></span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 52%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loans from banks</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="white-space: nowrap; text-align: center; width: 11%"><span style="font-family: Times New Roman, Times, Serif"><b>CPI-linked NIS</b></span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5.1</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,295,112</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">2,491,401</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Less current maturities (including
    accrued interest as at December 31)</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">299,203</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">279,506</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,995,909</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">2,211,895</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
9 - Trade Payables</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December
    31</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">NIS&#160;thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">NIS&#160;thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Open debts</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">24,266</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">51,555</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Accrued expenses</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">141,823</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">176,913</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">166,089</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">228,468</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
10 - Other Payables </b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December
    31</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">NIS&#160;thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">NIS&#160;thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,435</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">10,098</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">9,876</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Other payables</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,413</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,563</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Dividend payable</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">17,500</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">31,446</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">(*)&#160;Including
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    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,826</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  </table><div>


</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>


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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
11 - Taxes on Income</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Details
                                            regarding the tax environment of the Company</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            tax rate that is relevant to the Company in the years 2021-2023: 23%</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
taxes for the reported periods are calculated according to the tax rates presented above.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company is an &#8220;Industrial Company&#8221; as defined in the Law for the Encouragement
                                            of Industry (Taxes) 1969 and accordingly is entitled to certain benefits including accelerated
                                            depreciation.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Composition
                                            of income tax expense</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Year ended</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Year ended</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Year ended</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31,</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31,</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31,</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2021</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">NIS&#160;thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">NIS&#160;thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">NIS&#160;thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Tax expenses for previous years</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">20,466</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Deferred tax expense
    (income)</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">63,079</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">22,340</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(7,622</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Total tax expense</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">63,079</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">22,340</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">12,844</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><div>


</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>
</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Deferred
                                            tax liabilities and assets recognized</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
deferred taxes are calculated using the tax rate expected to apply when reversed as stated above. The movement in deferred tax assets
and liabilities is attributable to the following items:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td><td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td><td style="vertical-align: bottom; text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td><td style="vertical-align: bottom; text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Balance
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    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(306,566</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">12,491</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">79,059</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(215,016</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Changes recognized
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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,445</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(63,079</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>


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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
11 - Taxes on Income (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Reconciliation
                                            between the theoretical tax on the pre-tax profit and the tax expense.</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td><td style="vertical-align: bottom; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td><td style="vertical-align: bottom; text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td><td style="vertical-align: bottom; text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Profit
    before taxes on income</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Statutory
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    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Tax
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(113</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">293</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Income
    tax expense</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">63,079</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">22,340</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">12,844</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>E.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Carry-forward
                                            tax losses</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
total amount of carry-forward tax losses from business as at December&#160;31, 2023 is approximately NIS&#160;316 million (as of December
31, 2022 &#8211; NIS 345 million). The Company has recorded deferred taxes in respect of these losses, since the Company expects to utilize
them against taxable income for tax purposes that will be created for the Company in the foreseeable future.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>F.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Tax
                                            assessments</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has final tax assessments up to and including 2020.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
December 30, 2021, the Company signed a final assessment agreement for the years 2015-2020 with the Tax Authority which determined the
treatment of the power plant&#8217;s depreciation throughout the period of its operation. It was determined that the Company would adjust
depreciation expenses in the amount of approximately NIS 1,871 million so that a tax liability was created for the Company for the 2020
tax year in the amount of approximately NIS 22 million including interest and linkage. According to the agreement, the amortization expenses
adjusted as stated above will be allowed for deduction to the Company as a current business expense in equal parts starting from January
1, 2021, for a period of 5 years, NIS 374 million each year. It is also stipulated in the agreement that in connection with the arbitration
procedure, for which a derivative claim was filed (as described in Note 12.A.9), the Company will reflect the results of the arbitral
award in the first tax report it submits after the date of the ruling and resolution of the claim in a final and absolute manner.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>


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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 12
- Contingent Liabilities, Commitments and Guarantees</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Commitments
                                            and liabilities</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financing
                                            agreements</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
November 29, 2010 (hereinafter: &#8220;the Financial Closing Date&#8221;), the Company signed a financing agreement and several related
agreements with Bank Hapoalim Ltd. as the financial organizer, Clal Credit and Financing Ltd. from the Clal Insurance Enterprises Holdings
Ltd. group as the organizer of the institutional consortium and a consortium of banks and institutional investors (hereinafter: &#8220;the
Financing Parties&#8221;) to provide financing in the amount of up to NIS&#160;3,850 million linked to the CPI, though not more than
80% of the costs of construction of a power plant for generating electricity in Ashkelon, subject to the terms of the provisions of the
financing agreement and the related agreements (hereinafter: &#8220;the Financing Agreements&#8221;). Likewise, bank guarantees will
be provided to third parties according to the project documents. The financing agreement includes representations and warranties concerning
the Company and the project where breaching these representations and warranties is likely to lead, inter alia, to a demand for immediate
repayment of the outstanding credit and/or a breach of the Company&#8217;s obligations and/or to the cancellation of the license.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accordingly,
the Company is required to comply with the following coverage ratios every May 27 and November 27:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 2in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company is required to maintain a debt coverage ratio of 1.1:1 over two consecutive calculation
                                            periods, and a debt coverage ratio of 1.05:1 over the entire calculation period.</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 2in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company is required to maintain a minimal loan life coverage ratio of 1.1:1.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
at December 31, 2023, in accordance with the Company&#8217;s cash flow forecasts, the Company is in compliance with the above coverage
ratios</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">According
to the Company&#8217;s financing agreement, the annual interest rate on the Company&#8217;s debt to the financing corporations is updated
every three years, according to the Company&#8217;s rating. On April 4, 2023, the rating company S&amp;P Maalot updated the Company&#8217;s
debt rating outlook to ILAA-/Negative. The updating of the aforementioned forecast had no effect on the Company&#8217;s interest rate.
Insofar as there is no change in the Company&#8217;s rating, the interest rate will continue to be about 5.1% and if the rating is lowered
the interest rate will rise to about 5.5%.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>Note
12 - Contingent Liabilities, Commitments and Guarantees (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Commitments
                                            and liabilities (cont&#8217;d)</b></span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financing
                                            agreements (cont&#8217;d)</b></span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Within
the framework of signing the Financing Agreements, other agreements related to the financing agreement were signed as follows:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"/><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>a.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capital
                                            Injection Agreement and a Subordinated Loan Agreement</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
agreements include the obligation of the shareholders towards the Company and the Financing Parties, to inject, separately, and each
according to their relative share, from time to time and in parallel with each request to draw from the financing facilities, a total
of up to approximately 20% cash (hereinafter:&#8221; the Shareholders Investment&#8221;), and this either for the issuance of shares
or as shareholders&#8217; loans, which in any case, will be subordinate to and pledged to the obligations of the Company towards the
Financing Parties, according to the terms of the agreements. According to the Capital Injection Agreement and as security for the commitment
of the shareholders to provide their relative portion of the Shareholders&#8217; Investment, the shareholders provided on the same date,
cash and bank guarantees in the amount of their obligation to inject the Shareholders&#8217; Investment; this, less any equity provided
to the Company prior to that date. The Capital Injection Agreement includes representations and obligations with regards to the shareholders
and the project where their breach is likely to lead, inter alia, to a demand for immediate repayment of the outstanding credit and/or
a breach of the Company&#8217;s obligations and/or to the cancellation of the license. According to the Subordinated Loan Agreement,
any shareholder loan will be linked to the CPI and bear interest at an annual rate of 10%. In addition, it was agreed that any distribution
to the shareholders, including loan repayments, will be subject to the compliance of the Company with the financial covenants set forth
in the financing agreements. During the reporting period there was no change in the relative holdings of the shareholders. Within the
framework of the financing agreement, there is a lien on all the issued share capital of the Company in favor of Poalim Trust Services
Ltd., as the trustee of the Financing Parties.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>b.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Account
                                            agreement</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The
agreement sets the establishment of the project accounts and sets out the distribution of the cash flows among the accounts. In addition,
the agreement sets out terms and procedures for executing deposits and withdrawals from each account, determines the minimum balances
in each of the reserve funds, and sets out the priorities with respect to payments between the accounts and other terms regarding the
management of the accounts, including the issue of transfers between accounts. The reserve funds are a debt service fund, a heavy maintenance
fund, a fund for regulation fines and a distribution fund. As at December&#160;31, 2023, the balances of the deposits for the reserve
funds are: NIS&#160;228 million in the debt service fund, NIS&#160;207 million in the heavy maintenance fund, NIS&#160;76 million in
the distribution fund and NIS&#160;11 million in the regulation fines fund. These amounts are classified in the statement of financial
position as &#8220;long-term restricted deposits&#8221;.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>2.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Agreement
                                            to lease land</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">In
2008 an agreement was signed between the Company and EAIS for the lease of 74.5 dunams of land for the power plant, for a period of 24
years and 11 months from the date of its commercial operation. In the same year and in the framework of the agreement, the Company paid
EAIS an amount of NIS 3,047 thousand in respect of its share in the lease payments that were paid by EAIS to the Israel Lands Administration.
According to the provisions of IFRS 16 the carrying amount of this payment is classified as &#8220;long-term prepaid expenses&#8221;
and is amortized over the lease period. During 2010 the Company signed an addendum to the agreement. According to the addendum to the
agreement, in exchange for the lease of the land on which the power plant was constructed the Company will pay an annual amount of NIS
3,705 thousand linked to the Consumer Price Index over a period of 25 years from the date of commercial operation. See also Note 19 Related
Parties. The land lease is accounted for according to IFRS 16 (see Note 18, Leases).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 12
- Contingent Liabilities, Commitments and Guarantees (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Commitments
                                            and liabilities (cont&#8217;d)</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>3.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>O&amp;M
                                            Agreement</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">An
agreement between the Company and the Eilat-Ashkelon Power Plant Services Company - EAPPS (&#8220;the Maintenance Contractor&#8221;)
for the operation and maintenance of the power plant for a predetermined monthly payment defined in the Agreement for a period of 24
years and 11 months commencing the date of receipt of the production license. The Maintenance Contractor will transfer some of the larger
maintenance projects to a subcontractor (Zolru O&amp;M) under a separate agreement, however it will retain full responsibility towards
the Company with respect to all of its obligations under the agreement.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">During
2013, the Maintenance Contractor entered into a sub-contracting agreement with EZOM Ltd., a related party held by related companies,
by which the current operation and maintenance work of the power plant will be transferred to it the maintenance contractor will retain
full responsibility regarding its obligations toward the Company.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">During
August 2016 and in accordance with a price review mechanism included in the O&amp;M agreement, the prices of some of the items included
in the agreement were updated. The update was applied retroactively from the beginning of 2016.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">In
December 2017, an agreement was signed between EAPPS and EZOM Ltd which replaced EAPPS. The terms of the agreement are the same as the
agreement with EAPPS.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
November 29, 2022, the EAPPS agreement was assigned to EAIS. On August 22, 2022, the operating contractor announced that on August 15,
2022, the name of the company was changed from EZOM Ltd to Edeltech O&amp;M Ltd. The Company was also informed that 25% of the ordinary
shares in the Maintenance Contractor, which confer voting rights, were transferred to Edeltech Holdings 2006 Ltd., which from that date
owns 100% of the issued and paid-up share capital of the Maintenance Contractor.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>4.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Gas
                                            Pipeline Agreement</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
November 25, 2010, the Company signed a standard agreement approved by the Gas Authority according to which the government company Israel
Natural Gas Lines Ltd. (&#8220;INGL&#8221;) connected the power plant to the natural gas pipeline. In accordance with the agreement,
the Company paid connection fees in the amount of NIS 47 million which was recognized as long-term prepaid expenses and will be amortized
over the operating period. In addition, according to the agreement, the Company is obligated to pay INGL, commencing from the date of
completing the connection in November 2013, a monthly payment for the capacity in the pipeline and a variable payment for gas flowing
through the pipeline.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>5.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Diesel
                                            Storage agreement</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The
Company has an agreement with Europe Asia Pipeline Company Ltd (hereinafter: &#8220;EAPC&#8221;) regarding storage of diesel on its premises.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">According
to the agreement, the Company will store diesel at the quantities needed by it both as a backup of alternative fuel as required by Electricity
Market Regulations and for the Company&#8217;s current needs in an overall estimated amount of 14,000 cubic meters pursuant to the conditions
and periods set forth in the agreement.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 12
- Contingent Liabilities, Commitments and Guarantees (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Commitments
                                            and liabilities (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>6.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Agreement
                                            to purchase natural gas</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
October 15, 2012, the Company entered into an agreement with the partners in the Tamar license (&#8220;Tamar&#8221;) by which, in accordance
with the mechanisms set forth in the agreement, the Company will purchase natural gas from Tamar for operating the power plant it is
constructing in Ashkelon.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">As
of December 31, 2014, the financial scope of the Company&#8217;s commitment to purchase gas from the date of its flow, as defined in
the agreement, until the actual consumption of gas begins is estimated at NIS 100,800 thousand. This commitment was not recognized in
the Company&#8217;s books. However, in accordance with the agreement, if the Company does not actually consume the minimum quantity it
has undertaken, it will be required to consume this quantity, in addition to the minimum gas quantity to which the Company is obligated
each year during the following three years.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
April 30, 2015, the Company received a notification from Tamar whereby the &#8220;interim period&#8221;, as defined in the agreement,
began on May&#160;5, 2015. Pursuant to the agreement, during the interim period, the supply of gas to the Company will be subject to
the quantities of natural gas that will be available to Tamar at that time after supplying natural gas to other customers of Tamar with
which contracts for the supply of natural gas were signed prior to the signing of the agreement with the Company. The interim period
will end when Tamar completes, should it ultimately complete, a project for expansion of the supply capacity of a system for treatment
and transfer of natural gas from the Tamar reserve, upon fulfillment of the preconditions detailed in the agreement. On November 26,
2016, the Company received notification from Tamar whereby the interim period will end on September 30, 2020. On April 2, 2019, the Company
entered into an addendum to the agreement with the partners in the Tamar license (&#8220;Tamar&#8221;) according to which the gas quantities
specified in the addendum to the agreement that the Company purchases from Tamar will not be included for the purpose of calculating
the quantities of gas at the time of the reduction of the purchases from Tamar, in accordance with the instructions of the agreement
with Tamar and in accordance with the instructions of the framework for increasing the quantity of natural gas produced from the Tamar
natural gas field and rapid development of the Leviathan, Karish and Tanin natural gas fields and additional fields from August 16, 2015
(&#8220;Gas framework&#8221;). The addendum to the agreement was subject to certain suspending conditions which were fulfilled in July
2019. On January 22, 2020, the Company received notification from Tamar that the &#8220;Interim Period&#8221; will end on March 1, 2020.
According to the notification and the terms of the agreement, Tamar will consider the Company as a permanent customer commencing from
the end of the &#8220;Interim Period&#8221;.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
March 22, 2021, the Company and the partners in the Tamar reservoir (hereinafter: &#8220;Tamar&#8221;) signed an amendment to the agreement
to purchase gas from the Tamar reservoir in which the parties agreed on the amount of gas that the Company will purchase from the Tamar
reservoir as from January 1, 2022. The agreement also provides that in respect of that agreement the Company will be entitled to compensation
in the amount specified in the agreement. The compensation was received in the third quarter of 2021 and is presented in the other payables
item and in the long-term liabilities item.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 12
- Contingent Liabilities, Commitments and Guarantees (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Commitments
                                            and liabilities (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>6.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Agreement
                                            to purchase natural gas (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
April 5, 2021, the Company entered into an additional gas purchase agreement with Tamar pursuant to which the Company is entitled to
purchase additional quantities of gas from Tamar over a period of 4 years ending on April 5, 2025. As part of the agreement, the Company
will receive a grant in the amount specified in the agreement, which depends partly, among other things, on the amount of gas consumption
quantities determined in the agreement. Half of the grant was received in the first quarter of 2022 and is presented in the other payables
item and in the long-term liabilities item, and half on the date of termination of the contract after meeting the conditions according
to the agreement.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The
addendum to the agreement and the additional agreement were subject to certain suspending conditions that were met on July 14, 2021.
The grant and the compensation will be recognized in profit or loss as a decrease in energy costs over the periods specified in the addendum
and the additional agreement.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>7.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Agreement
                                            to sell electricity</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">As
at the reporting date the Company has agreements to sell electricity at the full production capacity of the power plant. The electricity
delivery agreements are, mainly, based on a reduced rate compared to the rate applicable to electricity consumers in the general market,
as defined by the Authority for Public Services-Electricity.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>8.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Property
                                            tax assessments in respect of the plant</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">In
2014 the Company signed a settlement agreement with the Ashkelon Municipality which determined the annual municipal tax rate up to and
including 2025.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
March 1, 2022, the Company received a municipal rate assessment from the Ashkelon Municipality for the years 2019-2022 in the amount
of approximately NIS 18 million (of which a total of NIS 13.9 million is attributed to the years 2019-2021) that it claims is due to
both an error in the size of the property of the Ashkelon power plant on which the Company pays municipal taxes and in its classification.
On March 6, 2022, the Company filed an objection with the Ashkelon Municipality&#8217;s municipal rate director regarding these charges.
In this objection, it was argued, among other things, that in 2015 the Company had signed a compromise agreement with the Ashkelon Municipality
that arranged the payment of municipal rates until 2025 and which must be acted upon and that there is no basis for correcting the assessment.
The director of property taxes rejected that argument in a reply to the objection, and an appeal was filed against this reply to the
Appeals Committee for Property Tax Affairs. In the opinion of the Company&#8217;s management, based on the position of the Company&#8217;s
legal advisers, if the Company&#8217;s objection is not fully accepted there is a probability exceeding 50% that the Company will not
be required to pay more than NIS 1.5 million for the said assessment. During the year 2022, the Company included a provision in the said
amount.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>


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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 12
- Contingent Liabilities, Commitments and Guarantees (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Commitments
                                            and liabilities (cont&#8217;d)</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>9.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Claims
                                            by Dori Energy, Zorlu, Edelcom and EAIS</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">a)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Petition
                                            to Approve a Derivative Claim filed by Dori Energy and Hemi Raphael within the arbitration
                                            </i></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
April 12, 2015, the Company received two letters from representatives of Dori Energy (hereinafter- &#8220;The Representatives&#8221;)
that were addressed to the Company&#8217;s Chairman of the Board. In these letters, the Company is requested to take legal action to
reveal the engagement between one of the shareholders of the Company, Zorlu Enerji Elektrik Uretim A.S. and the construction contractor
of the Dorad power station, Wood Group (EPC contractor). On July 16, 2015, after the request of the Representatives was not accepted,
the Representatives filed with the court a motion to approve a derivative claim in the name of the Company against Zorlu (including the
representatives of Zorlu on the Company&#8217;s Board of Directors) and the EPC contractor. In the framework of the motion to which also
the derivative claim was attached, the Representatives demanded that documents and information regarding the engagement between Zorlu
and the EPC contractor be disclosed and handed over.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
November 15, 2015, the Company filed its reply in which it reiterated its position that the motion for approval of the derivative claim
should be denied.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
January 12, 2016, the Representatives filed a motion to amend the motion for approval of a derivative claim (hereinafter: &#8216;the
motion for amendment&#8221;). The motion for amendment raises new allegations by which Zorlu together with Ori Edelsburg (a director
in the Company) and companies under his control supposedly conspired to deceive the Company by &#8220;inflating&#8221; the cost of the
EPC agreement for the purpose of splitting between them the profits from such &#8220;inflation&#8221;. In addition, in the framework
of the motion for amendment it is requested to add Mr. Ori Edelsburg and companies under his control as defendants to the amended motion
for approval of a derivative claim and, also, to remove from the claim the representatives of Zorlu on the Company&#8217;s Board of Directors.
It is noted that the motion for approval of a derivative claim as well as the amended motion for approval of a derivative claim that
was attached to the motion for amendment, do not include any monetary relief rather request that the court give the Representatives permission
to split the relief so that they may file a separate monetary claim in the future on behalf of the Company with respect to the Company&#8217;s
financial damages, after they receive all the documents and information they are requesting. On April 20, 2016, a court hearing was held
that focused on the motion to amend the derivative claim that was filed by the Representatives. At the end of the hearing, the court
accepted the motion to amend the derivative claim so that the amended derivative claim is now on the agenda. At the end of July 2016,
the respondents filed their responses to the court regarding the amended motion to approve a derivative claim. In accordance with their
responses, they deny the allegations included in the motion and according to them they did not do any injustice to the Company and therefore
the Company has no cause of action against them. On December 27, 2016, following negotiations between the parties, an arbitration agreement
was signed between the parties in which it was agreed to transfer the proceeding to arbitration and on January 3, 2017, the Representatives
filed a motion to cancel the proceedings which was approved by the Supreme Court on January 8, 2017.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note
12 - Contingent Liabilities, Commitments and Guarantees (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Commitments
                                            and liabilities (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>9.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Claims
                                            by Dori Energy, Zorlu, Edelcom and EAIS (cont&#8217;d)</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>a)</i></span></td><td><span style="font-family: Times New Roman, Times, Serif"><i>Petition
                                            to Approve a Derivative Claim filed by Dori Energy and Hemi Raphael within the arbitration
                                            (cont&#8217;d)</i></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Following
the nomination of the new arbitrator (see Note 12.A.9.e) on April 30, 2019, a preliminary meeting was scheduled with the new selected
arbitrator. During the year 2020 and the year of the report, several hearings and evidentiary hearings were held that included the summoning
of witnesses. On February 15, 2021, the arbitrator approved the plaintiff&#8217;s request for a change of litigant, so that in place
of the late Hami Rafael, Rani Friedrich will come as a litigant in the legal proceedings. On October 31, 2021, Edelcom&#8217;s summaries
were filed in its lawsuit, as well as the plaintiffs&#8217; summaries in Dori and Rafael&#8217;s lawsuit. On March 10, 2022, the Company
submitted summaries on its behalf, in which it reiterated its position, according to which, in view of the circumstances of the arbitration
proceeding, it does not take any position on it and leaves the decision on it to the discretion of the arbitrator. Also, in accordance
with the arbitrator&#8217;s decision, the Company submitted a notice regarding the legal expenses paid as part of the arbitration proceeding
in the amount of approximately NIS 6 million.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
June 28, 2023, the arbitrator issued an arbitration ruling, according to which the requests for approval of a derivative claim on behalf
of EAIS and Dori Energy were accepted, and also the derivative claim was accepted in part, according to which Zorlu, Mr. Ori Edelsburg,
Edelcom and Edeltech (hereinafter: &#8220;the defendants&#8221;), jointly and severally, were required to return to the Company an amount
of USD 100 million, which bears interest according to the Adjudication of&#160;Interest and Linkage Law and its regulations from January
1, 2013, until the actual date of payment. In addition, in the arbitration ruling, the defendants were required, jointly and severally,
to pay expenses to the plaintiffs in the amount of NIS 20 million plus VAT as well as 80% of the Company&#8217;s actual expenses in respect
of the arbitration, whereas EAIS, Dori Energy, Dori Group, Mr. Rani Friedrich and Ellomay, jointly and severally, will bear 20% of the
Company&#8217;s actual expenses in respect of the arbitration.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
July 4, 2023, and on July 5, 2023, the parties to the arbitration (except the Company) applied to the Honorable Judge (retired) Mr. Asher
Grunis (hereinafter: &#8220;Mr. Grunis&#8221;) to accept to act as an appeals court on the arbitration ruling of the Honorable Judge
(retired) Yitzhak Inbar, according to the arbitration agreement. On July 6, 2023, Mr. Grunis announced that he accepts the appointment.
Mr. Grunis determined that the deadline for filing appeals would be November 13, 2023. On November 15, 2023, the parties submitted letters
of appeal against the arbitrator&#8217;s decision, the responses of the other parties to the appeals will be submitted by February 29,
2024, and response letters to the responses to the appeals will be submitted by May 6, 2024. The preliminary hearing is scheduled for
May 30, 2024. In the Company&#8217;s estimation, based on the opinion of its legal advisors, at this stage it is not possible to knowledgeably
assess the results of the appeal proceeding. Accordingly, the effect of the aforementioned arbitration ruling has not yet been included
in the financial statements.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 12
- Contingent Liabilities, Commitments and Guarantees (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Commitments
                                            and liabilities (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>9.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Claims
                                            by Dori Energy, Zorlu, Edelcom and EAIS (cont&#8217;d)</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>b)</i></span></td><td><span style="font-family: Times New Roman, Times, Serif"><i>Third
                                            party notice from Zorlu within the arbitration</i></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
April 30, 2017, Zorlu sent a third-party notice to the Company, Dori Energy and Dori Group, according to which, to the extent the claim
of Dori Energy is accepted, it will insist on all the rights it had in connection with its right to construct the power plant, including
the right to the profits it would have received as a result of the construction, in such a manner that the third parties will owe Zorlu.
In accordance with the aforementioned arbitration ruling, the request for a third party notification on behalf of Zorlu was rejected.
See Section 12.A.9.a regarding the Company&#8217;s assessment of the results of the arbitration proceeding.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>c)</i></span></td><td><span style="font-family: Times New Roman, Times, Serif"><i>Petition
                                            to Approve a Derivative Claim filed by Edelcom within the arbitration </i></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
July 25, 2016, Edelcom submitted an application for approval of a derivative claim on behalf of the Company against U. Dori Group Ltd,
presently Amos Luzon Development and Energy Group Ltd. (hereinafter: &#8220;the Dori Group&#8221;), Dori Energy and Ellomay Clean Energy
Ltd. (hereinafter: &#8220;Ellomay&#8221;). Edelcom&#8217;s claim is about an entrepreneurship agreement that was signed on November 25,
2010 between the Company and Dori Group, pursuant to which in consideration for the management and entrepreneurship services of the power
plant project the Dori Group received from the Company payment in the amount of NIS 49.4 million and it undertook to continue holding,
directly or indirectly, at least 10% of the Company&#8217;s share capital for a period of 12 months from the date the power plant is
handed over to the Company by the construction contractor (hereinafter and respectively: &#8220;the entrepreneurship agreement&#8221;
and &#8220;the entrepreneurship fee&#8221;).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">According
to Edelcom, Dori Group holds the Company through Dori Energy, which on November 25, 2010, entered into a triangular investment agreement
between Dori Energy, Ellomay and the Dori Group (hereinafter: &#8220;the Dori Energy investment agreement&#8221;). In addition, according
to Edelcom, when the Dori Energy investment agreement was signed Ellomay received management rights in Dori Energy that are equal to
those of the Dori Group while at the same time Ellomay formally held only 40% of the issued share capital of Dori Energy and therefore
it was expected that the management rights granted to it would correspond to its holding rate in Dori Energy at that time. In view of
the aforesaid, according to Edelcom the Dori Group holdings have fallen below 10% and it has therefore breached its commitment according
to the entrepreneurship agreement. On January 4, 2017, following the signing of an arbitration agreement in which the parties agreed
to transfer the claim to an arbitration proceeding, a request was filed to the court by the parties for cancellation of the claim. In
accordance with the aforementioned arbitration ruling, the request for a Derivative Claim on behalf of Edelcom was rejected. See Section
12.A.9.a regarding the Company&#8217;s assessment of the results of the arbitration proceeding.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 12
- Contingent Liabilities, Commitments and Guarantees (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Commitments
                                            and liabilities (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>9.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Claims
                                            by Dori Energy, Zorlu, Edelcom and EAIS (cont&#8217;d)</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><i>d)</i></span></td><td><span style="font-family: Times New Roman, Times, Serif"><i>Statement
                                            of Claim filed by Edelcom within the arbitration</i></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.55pt"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
July 27, 2017, Edelcom submitted a lawsuit against Amos Luzon Group, Dori Energy and Ellomay (&#8220;Defendants&#8221;), in respect of
the transfer of Company shares contrary to the provisions of the shareholders&#8217; agreement that was signed between the Company and
its shareholders on November 25, 2010 (hereinafter: &#8220;Shareholders&#8217; Agreement&#8221;). According to Edelcom, the defendants
interpreted unlawfully and in bad faith the provisions of the shareholders&#8217; agreement by entering into an investment agreement
pursuant to which shares were allotted contrary to the mechanism set forth in the shareholders&#8217; agreement, which is the basis for
Edelcom&#8217;s motion to approve a derivative claim as described above. Edelcom is requesting various declaratory remedies and an operative
remedy that includes enforcing the sanctions set forth in the shareholders&#8217; agreement, issuing an order directed to the Company
and ordering it to withhold any payment due to Dori Energy by virtue of its status as a shareholder in the Company, including dividends
or repayment of a shareholders&#8217; loan, and an order addressed to the Company that orders it to suspend the late Mr. Menachem Refael
from his position as a director in the Company on behalf of Dori Energy and prohibit the late Mr. Refael from being present or voting
in the board meetings of the Company. The parties agreed that this claim too would be transferred to an arbitration proceeding. On October
22, 2019, an arbitration ruling was issued in the Edelcom claim regarding the right of refusal to delete the claim.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><i>e)</i></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><i>Statement
                                            of Claim filed by Edelcom and Zorlu</i></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.55pt"><span style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
March 28, 2018, Zorlu and Edelcom filed a motion to remove the arbitrator from her position. On October 22, 2018, the District Court
rejected the demand that the arbitrator be removed from her position. On February 12, 2019, the Supreme Court accepted the appeal of
Zorlu and Edelcom and the arbitrator was removed from her position.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>10.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Malfunctions
                                            in production units</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">1.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">In
                                            November 2018, a malfunction was discovered in the generator of one of the two steam turbines
                                            of the power station following which that turbine was temporarily out of use until its repair
                                            in February 2019. This failure did not have a material adverse effect on the Company&#8217;s
                                            operations. In 2019, the Company recognized an indemnification asset in the amount of NIS&#160;5.3
                                            million (USD 1.5 million) for this failure which was fully paid in 2019 and 2020. In 2021,
                                            the Company recognized an additional indemnification asset in the amount of approximately
                                            NIS 20 million (USD 6.5 million) which was received in full in 2022. In addition, in 2022,
                                            the Company recognized an additional insurance indemnification asset for the aforementioned
                                            malfunction in the amount of approximately NIS 9 million (approximately USD 2.6 million).
                                            In 2023, the Company received from the insurance company a total of approximately NIS 21
                                            million (approximately USD 6 million) which exceeds the amount that was recorded as an indemnification
                                            asset in 2022.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 12
- Contingent Liabilities, Commitments and Guarantees (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Commitments
                                            and liabilities (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>10.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Malfunctions
                                            in production units (cont&#8217;d)</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">2.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
                                            January 26, 2022, a malfunction was discovered in the components of one of the power plant&#8217;s
                                            gas turbines so that this turbine was temporarily out of use. The malfunction did not have
                                            a material adverse effect on the Company&#8217;s current operations. The Company derecognized
                                            the reduced cost of the said components in the amount of approximately NIS&#160;10 million,
                                            which was included in profit or loss in the first quarter of 2022 in the depreciation and
                                            amortization item, and accordingly in the first, second and third quarters of 2022 the Company
                                            replaced these components with refurbished components at a cost of approximately NIS 20 million.
                                            On January 12, 2023, the Company sent to the Company&#8217;s maintenance contractor a demand
                                            for compensation for the aforementioned damages that were caused to the Company in the amount
                                            of approximately USD 4.6 million, which are not insured, on the grounds that the damage was
                                            caused by the negligence of the maintenance contractor.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
February 5, 2023, the maintenance contractor rejected the Company&#8217;s demand and proposed an arbitration proceeding on the matter.
On February 27, 2023, the Company decided to exercise the arbitration mechanism in accordance with the operation and maintenance agreement
between the parties. On May 1, 2023, a preliminary discussion was held with the agreed arbitrator, and in it dates were set for meetings
in March 2024. On August 6, 2023, the Company submitted a statement of claim to the agreed arbitrator as well as a request for permission
to split remedies which was approved by the agreed arbitrator on August 16, 2023.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">3.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">In
                                            April 2023, during the semi-annual inspections, malfunctions were discovered in the components
                                            of two of the gas turbines at the power plant. The malfunctions did not have a material adverse
                                            effect on the Company&#8217;s current operations. The Company derecognized the reduced cost
                                            of the one of the said components in the amount of approximately NIS 5 million which was
                                            included in profit or loss in the second quarter of 2023 in the depreciation and amortization
                                            item, In addition, the company recorded operating expenses in the amount of approximately
                                            NIS 6 million for the additional malfunctioning component and accordingly in the second quarter
                                            of 2023 the Company replaced these components with refurbished components at a cost of approximately
                                            NIS 10 million.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">4.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">In
                                            December 2023, a malfunction was discovered in the components of one of the gas turbines
                                            at the power plant. The malfunction did not have a material adverse effect on the Company&#8217;s
                                            current operations. The Company derecognized the reduced cost of the said components in the
                                            amount of approximately NIS 5 million which was included in profit of loss in the fourth
                                            quarter of 2023 in the depreciation and amortization item, and accordingly in the fourth
                                            quarter of 2023 the Company replaced these components with refurbished components at a cost
                                            of approximately NIS 11 million.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 12
- Contingent Liabilities, Commitments and Guarantees (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Commitments
                                            and liabilities (cont&#8217;d)</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>11.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Collaboration
                                            agreement with Alon Energy Centers</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
March 6, 2019, the Company signed a memorandum of understanding with Alon Energy Centers Limited partnership (&#8220;Alon Gat&#8221;),
which constructed a private power plant for the production of electricity in Kiryat Gat with a capacity of approximately 73 megawatts.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
November 11, 2019, the Company signed an addendum to the memorandum of understanding (the memorandum of understanding and the addendum
will be referred to as &#8220;Detailed Agreement&#8221;). Under the Detailed Agreement Alon Gat will serve as a producer who will provide
the Company with the full availability of the power station and will sell the electricity produced at the power plant to the Company,
which will serve as supplier, in exchange for availability and energy payments to be paid to Alon Gat for a period of 5 years and extension
options totaling 6 years, with each party having the option to early terminate the detailed agreement subject to certain conditions and
with prior notice. In accordance with the detailed agreement, Alon Gat, which holds the production license, will be responsible for operating
the power plant and generating electricity at the plant and will bear all costs related to operating the power plant, availability, and
power generation. The Company will be responsible for all activities related to power supply and power plant sales to customers and the
electricity company. On November 12, 2019, commercial operation of the power plant and implementation of the detailed agreement began.
In addition, conditions have been prescribed in the agreement which when met each of the parties may terminate it with an advance notice,
including in the case of any regulatory change that materially affects implementation of the contract between the parties. Following
the August 2019 PUA hearing before implementing the detailed agreement and the PUA resolution as of January 2020, regarding the standards
on consumption plan anomalies amendment, which constitutes a regulatory change as defined in the agreement and may affect the financial
feasibility of the agreement, on August 12, 2021, the Company signed an amendment to the agreement, in effect until December 31, 2022,
that includes addressing consumption plan anomalies. As part of the amendment to the agreement, the economic viability will be examined
after the expected PUA resolution in respect of a change in the production tariff and a material change in the demand hours cluster,
which constitute a regulatory change that allows each one of the parties to terminate the agreement. Therefore, as of the date of the
report the conditions for recognition of a right of use asset and lease liability have not been fulfilled in accordance with IFRS 16
with respect to the availability payments. On January 8, 2023, Alon Gat announced termination of the agreement on March 31, 2023. Following
the announcement of Alon Gat the agreement was terminated on March 31, 2023.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36.55pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>12.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Acquisition
                                            of natural gas</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36.55pt"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
October 30, 2017, the Company signed an agreement with Energean Israel Ltd. (&#8220;Energean&#8221;) regarding the acquisition of natural
gas, in a cumulative amount of approximately 6 BCM over a period of 14 years, from the Karish and Tanin reserves held by it that their
construction was completed in 2022. The Company will purchase from Energean about half of the gas required to operate the Company&#8217;s
power plant, and the rest of the amount will continue to be supplied by Tamar. According to the agreement, if the Company does not actually
consume the annual minimum quantity it has undertaken, it will be forced to consume this quantity. In November 2018, all the suspending
conditions included in the agreement were fulfilled.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">At
the beginning of November 2022, Energean began to flow gas to the Company&#8217;s power plant facility.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 12
- Contingent Liabilities, Commitments and Guarantees (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Commitments
                                            and liabilities (cont&#8217;d)</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>13.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Third
                                            party notice from IEC</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
November 22, 2020, the Israel Electric Company (&#8220;IEC&#8221;) notified the Company that a class action lawsuit had been filed against
it, claiming that the IEC had been negligent in supervising the conduct of private electricity suppliers and thus caused damage to electricity
consumers. It is alleged that the private electricity suppliers gave false reports in the consumption plans submitted to the system manager
at the IEC while utilizing the rules set by the PUA in the standards. On November 22, 2020, the IEC filed a third-party notice against
the Company. On October 31, 2021, a hearing was held on the request to send notices to third parties. On April 10, 2023, the court decided
to reject the request to send a third parties notice from IEC. On June 11, 2023, IEC filled an appeal to the Supreme Court against the
Court decision. On June 29, 2023, the Supreme Court decided that the respondents must submit a written answer to the appeal by March
14, 2024, the hearing of the appeal was set for May 6, 2024. In the Company estimation, based on the opinion of its legal counsel, the
results of the IEC appeal cannot be knowledgeably assessed at this stage and therefore no provision was made in the financial statements.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>14.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Possibility
                                            to expand the plant by constructing an additional power plant in the area of the existing
                                            plant</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The
Company is considering the possibility of constructing an additional power plant in the area of the existing plant which will be a complementary
part to the existing plant and will be synergistic to it. On July 13, 2020, the Company submitted to the National Infrastructure Committee
(hereinafter: &#8220;NIC&#8217;) plans for public objections and NIC approval. On January 11, 2021, following the Company&#8217;s request,
the NIC decided to postpone the final decision. On December 27, 2021, NIC decided to bring the construction of the said expansion to
government consideration (in the decision there is a condition for the building permit detailed in NIC decision number 20/2021). On May
28, 2023, the Government Secretary announced that the Government approved the plans for national infrastructures regarding, among other
things, the construction of an expansion to the power plant at the Dorad Ashkelon site (Dorad 2) (hereinafter: &#8220;Government Resolution
586&#8221;). On July 12, 2023, a petition on behalf of OPC Hadera Expansion Ltd. (hereinafter: &#8220;OPC&#8221;) was received at the
Company&#8217;s offices regarding Israeli Government Resolution 586, in which it was decided, among other things, to expand the Dorad
power plant (High Court of Justice 5280/23) (hereinafter: &#8220;OPC Petition&#8221;). On July 19, 2023, the High Court of Justice rejected
the OPC petition out of hand due to non-exhaustion of proceedings. On July 24, 2023, a copy of OPC&#8217;s appeal to the Israeli government
was received at the Company&#8217;s offices, through the Government Secretary, with an urgent demand to receive an answer to the letter
of OPC from July 3, 2023, and saying that if the Government does not act as stated, OPC will have no choice but to file a new petition.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
July 17, 2023, a petition of Reindeer Energy Ltd (hereinafter: &#8220;Reindeer&#8221;) was received at the Company&#8217;s offices, it
too regarding aforementioned government resolution 586 (High Court of Justice 5404/23) (hereinafter: &#8220;Reindeer Petition&#8221;).
On July 19, 2023, a decision was made in the Reindeer petition, according to which the petitioner must inform the court by July 24, 2023,
why its petition should not be deleted due to it being a premature petition, without an order for costs, with its arguments being reserved
for when a final decision is made on the matter. On July 25, 2023, a copy of Reindeer&#8217;s notice was received at the Company&#8217;s
offices by which the petition is not a premature petition, and that without the court&#8217;s intervention at this time.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 12
- Contingent Liabilities, Commitments and Guarantees (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Commitments
                                            and liabilities (cont&#8217;d)</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>14.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Possibility
                                            to expand the plant by constructing an additional power plant in the area of the existing
                                            plant (cont&#8217;d)</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The
possibility of holding a competition for the construction of a power plant in the central region until 2035 will be eliminated, and under
these circumstances, the court is not proposing a hearing with a reservation of rights but to deny rights without a hearing, as well
as a violation of the public interest, which requires holding a hearing on the petition. On July 27, 2023, the High Court rejected Reindeer&#8217;s
petition outright because of it being a premature petition and stated that at under these circumstances, there is no justification for
hearing the petition now, when it is not possible to know what the National Infrastructure Committee&#8217;s recommendation will be after
holding a repeat hearing on the matter. It is certainly not possible to know at this time what will be the final decision that will be
made by the government afterwards, and what will be the factual and legal foundations underlying the final decision that will be made.
On January 16, 2024, the Company received a letter from Edelcom Ltd, by which it, as a shareholder in the Company, objects to the proposal
to expand the plant.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Further
to the government&#8217;s decision to approve National Infrastructure Plan 11/B (hereinafter: &#8220;NIP&#8221;), the Company applied
to the NIC for a building permit, however, on January 11, 2024, the Company was informed in an e-mail message from the NIC that its position
is that as long as NIP 20/B or NIP 91 is not definitively rejected, it is not possible to issue a building permit for the new station,
this being based on a legal opinion of legal advisers in the NIC and in the planning administration that were sent to the Company on
January 15, 2024. On February 7, 2024, the Company, through its legal counsel, sent a letter, among other things, to the legal advisers
of the NIC and the planning administration that had prepared the aforesaid legal opinion, arguing that the NIC&#8217;s refusal to grant
the Company a building permit is illegal and contrary to the proper interpretation of NIP 11/B. On February 26, 2024, the Company received
a reply letter from the NIC, which stands by the claim in the opinion that the issuance of building permits for the expansion of the
station should not be promoted. In the Company&#8217;s opinion, the NIC&#8217;s opinion in its letters and its conduct in refusing to
issue building permits is illegal and it is considering its actions, including the possibility of taking legal action on the matter.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
February 19, 2024, the Company received a planning survey to receive the expansion of the power plant from Noga, which allows the electricity
to be taken out from October 2028<span style="font-size: 10pt"><b>.</b></span></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>15.</b></span></td><td><span style="font-family: Times New Roman, Times, Serif"><b>Change
                                            in the clusters of demand hours</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
August 28, 2022, the Electricity Authority issued a resolution in which, among other things, a change in the clusters of demand hours
(hereinafter: &#8220;Mashab&#8221;) was established. According to the decision the intermediate hours cluster was canceled, peak hours
shifted in some seasons from noon to evening hours and the number of months in the summer season increased to 4 months (June to September
instead of July and August). The decision came into effect on January 1, 2023.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>16.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Virtual
                                            supplier</b></span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
March 3, 2021, the Electricity Authority issued a resolution establishing a regulation for suppliers who do not have the means to produce
and amending criteria for new suppliers (hereinafter: &#8220;virtual supplier&#8221;). According to the decision, in September 2021,
the supply segment will open to competition gradually. Suppliers will purchase all the electricity supplied to their consumers from the
system manager. To meet the conditions of the supply license, on June 14, 2021, the Company provided a guarantee in the amount of NIS
2 million in favor of the Electricity Authority. On July 19, 2021, the Company received a supply license for suppliers without means
of production. Implementation of the decision, insofar as it is implemented, is not expected to have a material effect on the Company&#8217;s
results.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 12
 - Contingent Liabilities, Commitments and Guarantees (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Commitments
                                            and liabilities (cont&#8217;d)</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 71.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>17.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Dividend
                                            distribution</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
May 6, 2021, the Company&#8217;s Board of Directors decided to distribute a dividend of NIS 100 million. On May 11, 2021, the Company
paid a dividend of NIS 75 million to its Israeli shareholders and even purchased approximately USD 7.7 million (approximately NIS 25
million at that time) for the payment of a dividend to a shareholder that is a foreign company subject to the receipt of a withholding
tax certificate. On June 1, 2021, upon receipt of a withholding tax certificate, the Company transferred to the foreign company the dividend
of USD 7.7 million (approximately NIS 25 million at the date of payment).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
August 21, 2023, the Company&#8217;s board of directors decided to distribute a dividend in the amount of NIS 70 million. At the said
time, the Company paid a dividend in the amount of NIS&#160;52.5 million to its Israeli shareholders. On September 7, 2023, upon the
receipt of a withholding tax certificate, the Company transferred to its foreign shareholder its share in the dividend in the amount
of approximately USD 4.6 million (approximately NIS 17.5 million that was converted by the Company into dollars on the date of the payment
to the Israeli shareholders).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
December 28, 2023, the Company&#8217;s board of directors decided to distribute a dividend in the amount of NIS 70 million. At the said
time, the Company paid a dividend in the amount of NIS&#160;52.5 million to its Israeli shareholders. After the reporting date, on January
10, 2024, upon the receipt of a withholding tax certificate, the Company transferred to its foreign shareholder its share in the dividend
in the amount of approximately USD 4.8 million (approximately NIS 17.5 million that was converted by the Company into dollars on the
date of the payment).</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>18.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Settlement
                                            agreement with the Egyptian gas supplier</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
December 28, 2020, the Company signed a settlement agreement with East Mediterranean Gas company (hereinafter: &#8220;EMG&#8221;). According
to the agreement the Company will remove any claim against EMG in respect of the amounts the Company had paid EMG in respect of the canceled
gas agreement and in return will receive an amount of approximately NIS 13 million. An amount of approximately NIS 1.3 million was received
on December 29, 2020, and the balance of NIS 11.6 million was received during 2021.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>B.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Bank
                                            guarantees</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">As
at the date of the report, the Company, through its shareholders based on their proportionate holdings in the Company and pursuant to
the financing agreements, provided bank guarantees to INGL, the Public Utilities Authority (&#8220;PUA&#8221;), for purposes of compliance
with the terms of the licenses granted to the Company, and to NOGA Independent System Operator Ltd. (hereinafter: &#8220;NOGA&#8221;), as required under the Company&#8217;s agreement with NOGA, and in accordance with the standards published by the PUA. On January 2023,
there was an update to the amount of the guarantee provided to NOGA so that the guarantee amounts to NIS 142 million. The total amount
of the guarantees is NIS 162 million. In order to comply with the terms of the supply license of a virtual supplier, the Company has
provided a guarantee in the amount of NIS 2 million in favor of the PUA.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>


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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
                                            Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note
12 - Contingent Liabilities, Commitments and Guarantees (cont&#8217;d)</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>C.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Liens</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">During
the month of January 2011, the Company placed liens on its assets as collateral for the obligations of the Company and its shareholders
as follows:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">1.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Fixed
                                            lien</span> &#8211; A fixed lien and first priority mortgage and an assignment by way of lien
                                            on all the assets and rights with respect to the power plant in Ashkelon (&#8220;the Project&#8221;)
                                            as specified in the financing agreements.</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">2.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Floating
                                            lien</span> &#8211; An unlimited first priority floating lien on all of the rights and assets
                                            of the borrower, any object and/or equipment and any other tangible or intangible asset of
                                            any type as specified in the financing agreements.</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">3.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Lien
                                            on account of guarantees to third parties</span> &#8211; A fixed lien, mortgage and assignment
                                            by way of a first priority lien, and a second priority lien on all assets and rights with
                                            respect to the account of guarantees including all the funds, the securities, the documents
                                            and the notes of others of any type that will be deposited into the account from time to
                                            time, as detailed in the mortgage deed and all its appendices.</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">4.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Lien
                                            on the land of the project </span>&#8211; A fixed lien and first priority mortgage and an assignment
                                            by way of lien on all of the rights, existing and future, of the pledger with no exceptions,
                                            per the development agreement that was signed between the pledger and the Israel Lands Administration
                                            (&#8220;ILA&#8221;) with respect to the land.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Note
13  - Share Capital</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Composition
of the share capital in nominal values:</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="text-align: center; font-weight: bold">&#160;</td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of shares</td><td style="text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="text-align: center; font-weight: bold">&#160;</td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31</td><td style="text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="text-align: center">&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td><td style="text-align: center">&#160;</td><td style="text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Issued&#160;and</td><td style="text-align: center; font-weight: bold">&#160;</td><td style="text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Issued&#160;and</td><td style="text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Authorized</td><td style="text-align: center; font-weight: bold">&#160;</td><td style="text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">paid-in</td><td style="text-align: center; font-weight: bold">&#160;</td><td style="text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">paid-in</td><td style="text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="text-align: center">&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td><td style="text-align: center">&#160;</td><td style="text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="text-align: center; font-weight: bold">&#160;</td><td style="text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; padding-bottom: 4pt">Ordinary shares of NIS 1 par value</td><td style="width: 1%; font-weight: bold; padding-bottom: 4pt">&#160;</td>
    <td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right">500,000</td><td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left">&#160;</td><td style="width: 1%; font-weight: bold; padding-bottom: 4pt">&#160;</td>
    <td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right">10,640</td><td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left">&#160;</td><td style="width: 1%; padding-bottom: 4pt">&#160;</td>
    <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">10,640</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">&#160;</td></tr>
  </table><div>




</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Note
14  - Revenues</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">For
    the year ended December 31</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2021</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">NIS
    thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Revenues from sale of electricity
    to private customers</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,856,252</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,900,101</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,693,686</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Income from the system
    operator</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">866,144</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">469,119</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">410,225</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,722,396</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,369,220</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,103,911</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 133; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Note
15 -  General and Administrative Expenses </b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="vertical-align: bottom; text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b>For the year ended December 31</b></span></td><td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="vertical-align: bottom; text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="vertical-align: bottom; text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Wages, salaries and related expenses</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,923</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,490</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Rental and office maintenance</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,842</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,581</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Profession services</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,529</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,263</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif">Depreciation</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">691</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">772</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">919</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif">Other</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">93</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">8</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Expenses from doubtful
    debts</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">241</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">27,668</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">24,066</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">24,502</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b>Note 16
- Financing Income and Expenses, Net</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>&#160;</b>&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Year ended December 31</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">NIS thousands</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-align: left">Financing income</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">31,784</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Interest income from bank deposits</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,584</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Note
17 - Financial Instruments</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Overview</b></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The
Company has exposure to the following risks from its use of financial instruments:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Credit
                                            risk</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Liquidity
                                            risk</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Market
                                            risk</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">This
note presents quantitative and qualitative information about the Company&#8217;s exposure to each of the above risks, and the Company&#8217;s
objectives, policies and processes for measuring and managing risk.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p><div>

</div><!-- Field: Page; Sequence: 134; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span>&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 17 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>B.</b></td><td style="text-align: justify"><b>Risk management framework</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Board of Directors has overall responsibility
for the establishment and oversight of the Company risk management framework. The Board has established the Financial Committee, which
is responsible for defining a risk management policy. The committee reports regularly to the Board of Directors on its activities.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>C.</b></td><td style="text-align: justify"><b>Credit risk</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Credit risk is a risk for a financial
loss caused to the company if the counterparty of the financial instrument fails to meet its contractual obligations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Cash and cash equivalents</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As at December 31, 2023, the Company
has cash and cash equivalents in the amount of NIS&#160;219,246 thousand (December 31, 2022 &#8211; NIS&#160;151,481 thousand). The Company&#8217;s
cash and cash equivalents are deposited with a financial institution having a high credit rating (international rating scale).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Restricted deposits</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As at December 31, 2023 the Company
has deposits in the amount of NIS 522,319 thousand that are restricted according to the financing agreements (December 31, 2022 &#8211;
NIS 514,543 thousand). The Company&#8217;s restricted deposits are held with a financial institution having a high credit rating (international
rating scale).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Trade and other receivables (current
assets)</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company&#8217;s exposure to credit
risk is influenced mainly by the individual characteristics of each customer. The Company has established a credit policy under which
each new customer is analyzed individually for credit worthiness, and if necessary, the customer will be examined individually again.
The Company&#8217;s review includes external credit ratings, when available. Collection from the Company&#8217;s customers is carried
out on a regular basis.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 36pt"/><td style="width: 28.35pt"><b>D.</b></td><td style="text-align: justify"><b>Liquidity risk</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Liquidity risk is the risk that the
Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering
cash or another financial asset. The Company&#8217;s approach to managing liquidity is to ensure, as far as possible, that it will always
have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable
losses or risking damage to its reputation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company has contractual commitments
due to the financing agreements, the O&amp;M agreement, the gas purchase agreement, the gas pipeline agreement and lease agreements. For
further information see Notes 12 and 18.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 135; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 17 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>D.</b></td><td style="text-align: justify"><b>Liquidity risk (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The following are the contractual maturities
of financial liabilities at undiscounted amounts and based on the rates at the reporting date, including estimated interest payments.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 136; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence -->&#160;</p></div><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 17 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>D.</b></td><td style="text-align: justify"><b>Liquidity risk (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>E.</b></td><td style="text-align: justify"><b>Market risk</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Market risk is the risk that changes
in market prices will affect the Company&#8217;s income. The objective of market risk management is to manage and control market risk
exposures within acceptable parameters, while optimizing the return.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As of December 31, 2023, and since the
beginning of commercial operation of the power plant, the management estimates that the main risks are changes in regulation applicable
to the area of operations as approved by the electricity authority and particularly changes in load, system, and time tariffs (&#8220;TAOZ&#8221;),
a change in gas purchase costs and other changes in the electricity and gas market, and political and security events.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 137; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 17 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>E.</b></td><td style="text-align: justify"><b>Market risk (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><b>(1)</b></td><td style="text-align: justify"><b>Linkage and foreign currency risk</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">As a result of the Company&#8217;s agreement
with the maintenance contractor and gas supplier as described in Note 12, the Company is exposed to changes in the dollar/NIS exchange
rate. In order to reduce this exposure, the Company entered into forward transactions to purchase dollars for NIS. As a result of loans
from banks and shareholders that are linked to the CPI, the Company is exposed to changes in the CPI. To reduce this exposure, the Company
entered forward transactions to purchase CPI (see Note 16).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1.5in"/><td style="width: 0.5in"><b>(a)</b></td><td><b>The exposure to linkage and foreign currency risk</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-indent: -28.35pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify">The Company&#8217;s exposure to linkage
and foreign currency risk is as follows:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: right">&#160;</td>
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    <td style="font-weight: bold; text-align: right">211,866</td>
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    <td style="font-weight: bold; text-align: right">211,866</td>
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    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td>
    <td>&#160;</td>
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    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
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    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
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    <td>&#160;</td>
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    <td style="font-weight: bold; text-align: right">243,050</td>
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    <td style="font-weight: bold; text-align: right">30,053</td>
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    <td style="font-weight: bold; text-align: right">3,106,550</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: right">7,653</td>
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    <td style="font-weight: bold; text-align: right">7,653</td>
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    <td style="font-weight: bold; text-align: right">55,390</td>
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    <td style="font-weight: bold; text-align: right">55,390</td>
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    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td>
    <td>&#160;</td>
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    <td style="text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
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    <td style="text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td>
    <td style="font-weight: bold; text-align: right">-</td>
    <td style="font-weight: bold; text-align: left">&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td>
    <td style="font-weight: bold; text-align: right">-</td>
    <td style="font-weight: bold; text-align: left">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td>
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    <td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td>
    <td style="font-weight: bold; text-align: right">-</td>
    <td style="font-weight: bold; text-align: left">&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td>
    <td style="font-weight: bold; text-align: right">-</td>
    <td style="font-weight: bold; text-align: left">&#160;</td>
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    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
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    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
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    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
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    <td style="text-align: left">&#160;</td>
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    <td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</td>
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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</td>
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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</td>
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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td>
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  </table><div>





</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 138; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 17 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>E.</b></td><td><b>Market risk (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><b>(1)</b></td><td><b>Linkage and foreign currency risks (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1.5in"/><td style="width: 0.5in"><b>(a)</b></td><td><b>The exposure to linkage and foreign currency risk (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-indent: -28.35pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">The Company&#8217;s exposure to linkage and foreign currency
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: right">&#160;</td>
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    <td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="text-align: center; padding-bottom: 1.5pt">&#160;</td>
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    <td style="text-align: center; padding-bottom: 1.5pt">&#160;</td>
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    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: right">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td>&#160;</td>
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    <td style="width: 1%">&#160;</td>
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    <td style="width: 8%; text-align: right">-</td>
    <td style="width: 1%; text-align: left">&#160;</td>
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    <td style="width: 8%; text-align: right">91,588</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">238,581</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
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    <td>&#160;</td>
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    <td style="text-align: right">-</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">32,809</td>
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    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td></tr>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td></tr>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">270,716</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">243,827</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">514,543</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">32,072</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">32,072</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">3,253,196</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">3,253,196</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">6,404</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">6,404</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Right of use assets</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">57,486</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">57,486</td>
    <td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
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    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
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    <td>&#160;</td>
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    <td style="text-align: right">&#160;</td>
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    <td>&#160;</td>
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    <td style="text-align: right">&#160;</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td style="text-align: right">-</td>
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    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">(279,506</td>
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    <td>&#160;</td>
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    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">-</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">(4,645</td>
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    <td>&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt"><br/>
</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 17 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>E.</b></td><td style="text-align: justify"><b>Market risk (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><b>(1)</b></td><td style="text-align: justify"><b>Linkage and foreign currency risks (cont&#8217;d)</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.35pt; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify">A change as at December 31 in the exchange
rates of the following currencies against the NIS, as indicated below, and a change in the CPI would have increased (decreased) profit
or loss and equity by the amounts shown below. This analysis is based on changes in foreign currency exchange rates and in the CPI that
the Company considered to be reasonably possible at the end of the reporting period. The analysis assumes that all other variables, in
particular interest rates, remain constant.</p><div>

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  <tr style="vertical-align: bottom">
    <td style="text-align: justify">Change in the exchange rate of:</td><td>&#160;</td>
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    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 52%; text-align: justify">5% in the US dollar (1)</td><td style="width: 1%; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">1% change in CPI (2)</td><td style="font-weight: bold">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(24,914</td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">2% change in CPI (2)</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(45,902</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(49,828</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">49,828</td><td style="text-align: left">&#160;</td></tr>
  </table><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0in"/><td style="width: 0.5in">(1)</td><td style="text-align: justify">The sensitivity derives mainly from balances of cash, restricted deposits, balances of trade and other
payables in foreign currency.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0in"/><td style="width: 0.5in">(2)</td><td style="text-align: justify">The effect on equity of the change in the US dollar exchange rate and the CPI is the same as that on profit
or loss.</td></tr></table><div>




</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 140; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 17 - Financial Instruments (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in"><b>F.</b></td><td style="text-align: justify"><b>Fair value</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><b>(1)</b></td><td style="text-align: justify"><b>Financial instruments measured at fair value for disclosure purposes only</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The carrying amounts of certain financial
assets and liabilities, including cash and cash equivalents, other accounts receivable, pledged deposits, trade payables and other accounts
payable are the same or proximate to their fair value.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The fair values of the financial liabilities,
together with the carrying amounts shown in the statement of financial position, are as follows:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="14" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">December 31</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2023</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2022</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Carrying</td><td style="text-align: center; font-weight: bold">&#160;</td><td style="text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Fair</td><td style="text-align: center; font-weight: bold">&#160;</td><td style="text-align: center; font-weight: bold">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">Fair</td><td style="text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">amount</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">value</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">amount</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">value</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">NIS&#160;thousands</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">NIS&#160;thousands</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="width: 52%; font-weight: bold; text-align: left">Non-current liabilities:</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">&#160;</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 2.5pt; text-align: left">Long-term loans from banks (*)</td><td style="padding-bottom: 4pt; font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#8239;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">2,295,112</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 4pt; font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">2,093,826</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">&#8239;</td><td style="border-bottom: Black 4pt double; text-align: right">2,491,401</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">2,477,757</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0in"/><td style="width: 0.5in"><b>(*)</b></td><td style="text-align: justify">Including current maturities.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.5in"><b>(2)</b></td><td style="text-align: justify"><b>Interest rates used for determining fair value</b></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The interest rates used to discount
estimated cash flows, when applicable, are based on the government yield curve at the reporting date (level 2 on fair value hierarchy)
plus an adequate credit spread, and were as follows:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">December 31</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2023</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2022</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">%</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">%</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="width: 76%; text-align: right; padding-left: 0pt">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">&#160;</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 4pt; text-align: left; padding-left: 0pt">Long-term loans from banks</td><td style="padding-bottom: 4pt; font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#8239;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">4.9</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">%</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">3.3</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr>
  </table><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><b>(3)</b></td><td style="text-align: justify"><b>Fair value hierarchy</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">The table below analyses financial
instruments carried at fair value, by valuation method. The different levels have been defined as <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">follows:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 2in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
                                            1: quoted prices (unadjusted) in active markets for identical instruments</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 2in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
                                            2: inputs other than quoted prices included within Level 1 that are observable, either directly
                                            or indirectly</span></td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 2in"/><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
                                            3: inpu</span>ts that are not based on observable market data (unobservable inputs).</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -28.35pt"></p><div>

</div><!-- Field: Page; Sequence: 141; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence -->&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 18 - Leases</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has lease agreements with respect
to the following items:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in">(1)</td><td style="text-align: justify">Land</td></tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.5in">(2)</td><td style="text-align: justify">Offices</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><b>(1)</b></td><td style="text-align: justify"><b>Information regarding material lease agreements</b></td>
</tr></table><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1.5in"/><td style="width: 0.5in">(a)</td><td style="text-align: justify">The Company leases land from EAIS for a period of 25 years during which the Company constructed a power
plant. The contractual period ends on May 20, 2039. A lease liability and right-of-use asset in the amount of NIS 51,803 thousand and
NIS 54,752 thousand, respectively, have been recognized in the statement of financial position as of December 31, 2023, in respect of
the land lease.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify">Furthermore, in respect of the land,
the Company paid NIS 3,047 thousand for its share in the lease payments that were paid by EAIS to the ILA. The carrying amount of that
payment was classified as a right of use asset and is depreciated over the lease period, see Note 12A (2).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1.5in"/><td style="width: 0.5in">(b)</td><td style="text-align: justify">The Company leases offices from Africa Israel for a period of 5 years with extension options ending on
December 8, 2022. On February 28, 2022, the Company signed an extension of the agreement until June 30, 2025<span style="font-family: Times New Roman, Times, Serif">.</span>
A lease liability and right-of-use asset in the amount of NIS 602 thousand and NIS 638 thousand, respectively, have been recognized in
the statement of financial position as of December 31, 2023, in respect of the lease of the offices.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.5in; text-align: left"><b>(2)</b></td><td style="text-align: justify"><b>Right-of-use assets</b></td>
</tr></table><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.5in"/><td style="width: 0.5in; text-align: left"><b>(a)</b></td><td style="text-align: justify"><b>Composition and changes</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Land *</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: justify">Balance as at January 1, 2022</td><td style="width: 1%">&#160;</td>
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">57,530</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: justify">Addendum to office rental agreement</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">797</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">797</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Depreciation on right-of-use assets</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(3,345</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(398</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(3,743</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1.5pt">Linkage on right-of-use assets</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,837</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">65</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,902</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Balance as at January 1, 2023</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">56,464</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">1,022</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">57,486</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: justify">Depreciation on right-of-use assets</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(3,502</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(418</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(3,920</td><td style="font-weight: bold; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Linkage on right-of-use assets</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">1,790</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">34</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">1,824</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: justify; padding-bottom: 4pt">Balance as at December&#160;31, 2023</td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">54,752</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">638</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">55,390</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left">*</td><td style="text-align: justify">The balance of land includes the classification of prepaid lease
payments, see above in Note 18 (1) a.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 142; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">FD-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence -->&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 18 - Leases (cont&#8217;d)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><span style="font-size: 10pt"><b>(3)</b></span></td><td style="text-align: justify"><b>Lease liability</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>Maturity analysis of the Company&#8217;s lease
liabilities</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: justify">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December&#160;31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: justify">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><b>NIS&#160;thousands</b></td><td style="padding-bottom: 1.5pt">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 88%; text-align: justify">Less than one year</td><td style="width: 1%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 9%; font-weight: bold; text-align: right">4,787</td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">22,141</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 1.5pt">More than five years</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">25,477</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 4pt">Total</td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">52,405</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.5in; text-align: left"><b>(4)</b></td><td style="text-align: justify"><b>Additional information on leases</b></td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;<b>&#160;</b>&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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December&#160;31, <br/> 2022</td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dorad
Energy Ltd.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Financial
Statements as at December 31, 2023</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 19 - Related and Interested Parties </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Transactions with related and interested parties</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Details of transactions with related and interested
parties are presented below (all the transactions are at market terms):</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; vertical-align: top; white-space: nowrap; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>&#160;</b></span></td><td style="padding-bottom: 1.5pt; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>&#160;</b></span></td>
    <td style="padding-bottom: 1.5pt; white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>&#160;</b></span></td>
    <td style="padding-bottom: 1.5pt; white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>&#160;</b></span></td>
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  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; vertical-align: top; white-space: nowrap; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>&#160;</b></span></td><td style="padding-bottom: 1.5pt; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>&#160;</b></span></td>
    <td style="padding-bottom: 1.5pt; white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>&#160;</b></span></td>
    <td style="padding-bottom: 1.5pt; white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>&#160;</b></span></td>
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    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>Related
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 20 - Subsequent Events</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">Regarding the possibility of expanding
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">FD-50</p><div>

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<ix:nonFraction contextRef="c0" id="hidden-fact-102" name="ifrs-full:ProceedsFromExerciseOfOptions" unitRef="usd" xsi:nil="true"/>
<ix:nonFraction contextRef="c0" id="hidden-fact-103" name="ello:RepaymentOfSwapInstrumentAssociatedWithLongTermLoans" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c5" id="hidden-fact-104" name="ello:RepaymentOfSwapInstrumentAssociatedWithLongTermLoans" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c0" id="hidden-fact-105" name="ello:RepaymentOfSwapInstrumentAssociatedWithLongTermLoans" unitRef="usd" xsi:nil="true"/>
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<ix:nonFraction contextRef="c5" id="hidden-fact-107" name="ello:ProceedFromSettlementOfDerivativesNet" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c0" id="hidden-fact-108" name="ello:ProceedFromSettlementOfDerivativesNet" unitRef="usd" xsi:nil="true"/>
<ix:nonFraction contextRef="c0" id="hidden-fact-109" name="ello:ProceedsFromIssuanceOfConvertibleDebentures" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c4" id="hidden-fact-110" name="ello:ProceedsFromIssuanceOfConvertibleDebentures" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c0" id="hidden-fact-111" name="ello:ProceedsFromIssuanceOfConvertibleDebentures" unitRef="usd" xsi:nil="true"/>
<ix:nonFraction contextRef="c4" id="hidden-fact-112" name="ello:ProceedsFromIssuanceOfDebenturesNet" unitRef="eur" xsi:nil="true"/>
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<ix:nonFraction contextRef="c4" id="hidden-fact-114" name="ello:IssueOfWarrants" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c0" id="hidden-fact-115" name="ello:IssueOfWarrants" unitRef="usd" xsi:nil="true"/>
<ix:nonFraction contextRef="c4" id="hidden-fact-116" name="ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c5" id="hidden-fact-117" name="ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" unitRef="eur" xsi:nil="true"/>
<ix:nonNumeric contextRef="c69" id="hidden-fact-118" name="ello:GreenGasProductionCapacity">3 million</ix:nonNumeric>
<ix:nonNumeric contextRef="c70" id="hidden-fact-119" name="ello:GreenGasProductionCapacity">3.8 million</ix:nonNumeric>
<ix:nonNumeric contextRef="c71" id="hidden-fact-120" name="ello:GreenGasProductionCapacity">9.5 million</ix:nonNumeric>
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<ix:nonFraction contextRef="c72" decimals="5" id="hidden-fact-122" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" unitRef="pure">0.83333</ix:nonFraction>
<ix:nonFraction contextRef="c68" decimals="5" id="hidden-fact-123" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" unitRef="pure">0.09375</ix:nonFraction>
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<ix:nonFraction contextRef="c149" id="hidden-fact-134" name="ifrs-full:NoncurrentLiabilities" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c2" id="hidden-fact-135" name="ello:CurrentMaturitiesOfLoansGivenToAnEquityAccountedInvestee" unitRef="eur" xsi:nil="true"/>
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<ix:nonFraction contextRef="c159" id="hidden-fact-137" name="ifrs-full:DisposalsPropertyPlantAndEquipment" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c160" id="hidden-fact-138" name="ifrs-full:DisposalsPropertyPlantAndEquipment" unitRef="eur" xsi:nil="true"/>
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<ix:nonFraction contextRef="c161" id="hidden-fact-140" name="ifrs-full:ChangesInPropertyPlantAndEquipment" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c175" id="hidden-fact-141" name="ifrs-full:ChangesInPropertyPlantAndEquipment" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c179" id="hidden-fact-142" name="ifrs-full:PropertyPlantAndEquipment" unitRef="eur" xsi:nil="true"/>
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<ix:nonFraction contextRef="c184" id="hidden-fact-145" name="ifrs-full:DisposalsPropertyPlantAndEquipment" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c185" id="hidden-fact-146" name="ifrs-full:DisposalsPropertyPlantAndEquipment" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c183" id="hidden-fact-147" name="ifrs-full:ChangesInPropertyPlantAndEquipment" unitRef="eur" xsi:nil="true"/>
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<ix:nonFraction contextRef="c199" id="hidden-fact-154" name="ifrs-full:ChangesInPropertyPlantAndEquipment" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c200" id="hidden-fact-155" name="ifrs-full:ChangesInPropertyPlantAndEquipment" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c179" id="hidden-fact-156" name="ifrs-full:PropertyPlantAndEquipment" unitRef="eur" xsi:nil="true"/>
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<ix:nonFraction contextRef="c267" id="hidden-fact-158" name="ello:CurrentPortionOfLongTermBankLoans" unitRef="eur" xsi:nil="true"/>
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<ix:nonFraction contextRef="c419" id="hidden-fact-169" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c419" id="hidden-fact-170" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" unitRef="eur" xsi:nil="true"/>
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<ix:nonFraction contextRef="c419" id="hidden-fact-172" name="ello:LinkageValueOfLoansAndBorrowings" unitRef="eur" xsi:nil="true"/>
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<ix:nonFraction contextRef="c479" id="hidden-fact-174" name="ifrs-full:LongtermBorrowings" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c481" id="hidden-fact-175" name="ifrs-full:LongtermBorrowings" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c434" decimals="-3" id="hidden-fact-176" name="ello:PrincipalAmountOfEachUnitComprised" unitRef="ils">1000</ix:nonFraction>
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<ix:nonFraction contextRef="c500" id="hidden-fact-178" name="ello:LeaseAgreementsRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c502" id="hidden-fact-179" name="ello:LeaseAgreementsRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c503" id="hidden-fact-180" name="ello:LeaseAgreementsRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c504" id="hidden-fact-181" name="ello:LeaseAgreementsRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c506" id="hidden-fact-182" name="ello:LeaseAgreementsRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
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<ix:nonFraction contextRef="c505" id="hidden-fact-184" name="ello:OtherRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c500" id="hidden-fact-185" name="ello:EffectOfChangesInExchangeRatesToRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c501" id="hidden-fact-186" name="ello:EffectOfChangesInExchangeRatesToRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c502" id="hidden-fact-187" name="ello:EffectOfChangesInExchangeRatesToRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c503" id="hidden-fact-188" name="ello:EffectOfChangesInExchangeRatesToRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c508" id="hidden-fact-189" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c509" id="hidden-fact-190" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c510" id="hidden-fact-191" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c511" id="hidden-fact-192" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c512" id="hidden-fact-193" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c513" id="hidden-fact-194" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" unitRef="eur" xsi:nil="true"/>
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<ix:nonFraction contextRef="c523" id="hidden-fact-197" name="ello:LeaseAgreementsRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c525" id="hidden-fact-198" name="ello:LeaseAgreementsRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c526" id="hidden-fact-199" name="ello:LeaseAgreementsRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c527" id="hidden-fact-200" name="ello:LeaseAgreementsRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c528" id="hidden-fact-201" name="ello:LeaseAgreementsRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
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<ix:nonFraction contextRef="c526" id="hidden-fact-204" name="ello:OtherRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c523" id="hidden-fact-205" name="ello:EffectOfChangesInExchangeRatesToRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c524" id="hidden-fact-206" name="ello:EffectOfChangesInExchangeRatesToRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c525" id="hidden-fact-207" name="ello:EffectOfChangesInExchangeRatesToRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
<ix:nonFraction contextRef="c526" id="hidden-fact-208" name="ello:EffectOfChangesInExchangeRatesToRightOfUseAssets" unitRef="eur" xsi:nil="true"/>
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<ix:nonFraction contextRef="c0" id="hidden-fact-213" name="ifrs-full:WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019" unitRef="usdPershares" xsi:nil="true"/>
<ix:nonFraction contextRef="c4" id="hidden-fact-214" name="ifrs-full:NumberOfShareOptionsExpiredInSharebasedPaymentArrangement" unitRef="pure" xsi:nil="true"/>
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<ix:nonFraction contextRef="c577" id="hidden-fact-223" name="ifrs-full:NetForeignExchangeLoss" unitRef="eur" xsi:nil="true"/>
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<ix:nonFraction contextRef="c5" id="hidden-fact-227" name="ello:CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast" unitRef="eur" xsi:nil="true"/>
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<DOCUMENT>
<TYPE>EX-4.21
<SEQUENCE>2
<FILENAME>ea020166301ex4-21_ellomay.htm
<DESCRIPTION>ITALIAN SUBSIDIARIES' LEASE AGREEMENTS (SUMMARY OF ITALIAN VERSION)
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><U STYLE="text-decoration: none">Exhibit 4.21</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B><U>Summary
of Lease Agreements &ndash; Italian Subsidiaries </U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B><U>English
summary of the Italian version</U></B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>1</SUP></FONT></B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Ellomay Solar Italy One SRL</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 3pt; width: 32%; border: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>1. Execution date</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; width: 68%; border-top: Black 1.5pt solid; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">25 May 2022.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>2. Location and Size</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">The land is located on a plot with a size of 107,480 m<SUP>2</SUP> in the Municipality of Latina, Lazio Latina, Latina - Borgo Bainsizza.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>3. Term</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Thirty one (31) years (until May 2053).</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>4. Annual Rent</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">&euro;67,000, not including VAT and linked to the consumer price index in Italy. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Ellomay Solar Italy Two SRL </U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 3pt; width: 32%; border: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>1. Execution date</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; width: 68%; border-top: Black 1.5pt solid; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">25 May 2022.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>2. Location and Size</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">The Plant is located on a plot with a size of 96,319 m<SUP>2</SUP> in the Municipality of Latina, Lazio Latina, Latina - Borgo Bainsizza.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>3. Term</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Thirty one (31) years (until May 2053).</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>4. Annual Rent</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">&euro;24,000, not including VAT and linked to the consumer price index in Italy. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Ellomay Solar Italy Four SRL </U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 3pt; width: 32%; border: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>1. Execution date</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; width: 68%; border-top: Black 1.5pt solid; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">1 July, 2022.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>2. Location and Size</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">The Plant is located on a plot with a size of 20.30 hectares in the Municipality of Rome, Lazio Rome, Valletri.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>3. Term</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Thirty one (31) years (until March 2053).</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>4. Rent</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Capitalized rent in the aggregate amount of &euro;409,000, not including VAT, as an advance payment for the entire rental period and a regular annual rent of &euro;36,000, not including VAT and linked to the consumer price index in Italy. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps; font-weight: normal">&nbsp;</FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps; font-weight: normal"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT></TD><TD STYLE="text-align: justify">The original language version is on file with the Registrant
and is available upon request.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Ellomay Solar Italy Five SRL </U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 3pt; width: 32%; border: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>1. Execution date</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; width: 68%; border-top: Black 1.5pt solid; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">11 July, 2022.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>2. Location and Size</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">The Plant is located on a plot with a total size of 987,856 m<SUP>2</SUP> in the Municipality of Latina, Lazio Latina.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>3. Term</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Thirty one (31) years (until July 2053).</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>4. Rent</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Capitalized rent in the aggregate amount of &euro;916,000, not including VAT, as an advance payment for the entire rental period and a regular annual rent of &euro;300,000, not including VAT and linked to the consumer price index in Italy. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Ellomay Solar Italy Seven SRL </U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 3pt; width: 32%; border: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>1. Execution date</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; width: 68%; border-top: Black 1.5pt solid; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">31 March, 2023.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>2. Location and Size</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">The Plant is located on a plot with a size of 60.2664 hectares in the Municipality of Biella, Masserano, Piemonte Region.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>3. Term</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Thirty one (31) years (until March 2054).</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>4. Rent</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">&euro;181,760, not including VAT and linked to the consumer price index in Italy.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Ellomay Solar Italy Nine SRL </U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 3pt; width: 32%; border: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>1. Execution date</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; width: 68%; border-top: Black 1.5pt solid; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">1 May, 2023.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>2. Location and Size</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">The Plant is located on a plot with a size of 10.6643 hectares in the Municipality of Ancona, Jesi, Marche Region.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>3. Term</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Thirty one (31) years (until May 2054).</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>4. Rent</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">&euro; Capitalized rent in the aggregate amount of &euro;397,300, not including VAT, as an advance payment for the entire rental period and a regular annual rent of &euro;25,630, not including VAT and linked to the consumer price index in Italy.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Ellomay Solar Italy Ten SRL </U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 3pt; width: 32%; border: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>1. Execution date</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; width: 68%; border-top: Black 1.5pt solid; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">22 December, 2022.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>2. Location and Size</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">The Plant is located on a plot with a size of 28.50.24 hectares in the Municipality of Rome, Lazio Rome, Capena.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>3. Term</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Thirty one (31) years (until December 2053).</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 3pt; vertical-align: top; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>4. Annual Rent</B></FONT></TD>
    <TD STYLE="padding: 6pt 3pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">&euro;85,000, not including VAT and linked to the consumer price index in Italy. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-4.22
<SEQUENCE>3
<FILENAME>ea020166301ex4-22_ellomay.htm
<DESCRIPTION>LAND LEASE AND SOLAR EASEMENT BETWEEN JORDAN HUNTER LATHAM AND MALAKOFF SOLAR HOLDINGS, LLC, DATED APRIL 17, 2023
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 4.22</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>LAND LEASE AND SOLAR EASEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Between</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>JORDAN HUNTER LATHAM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>And</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>MALAKOFF SOLAR HOLDINGS, LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Dated as of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>April 17th, 2023</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-transform: uppercase; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Table
of Contents</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-transform: uppercase; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center">Page</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ARTICLE I. Premises</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"></FONT></TD>
    <TD STYLE="text-align: center">1</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 75%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 7%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 1.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">General</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 1.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Solar Easement</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="4"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ARTICLE II. Lease Term </FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">4</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Development Period; Operating
Term; Renewal Terms</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Termination of Lease</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 2.3</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Survival of Covenants</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="4"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ARTICLE III. Payments and Taxes</FONT></TD>
    <TD STYLE="text-align: center">5</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 3.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payments</FONT></TD>
    <TD STYLE="text-align: center">5</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 3.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Taxes, Assessments and
Utilities</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="4"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ARTICLE IV. Project Company&rsquo;s Covenants</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"></FONT></TD>
    <TD STYLE="text-align: center">6</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 4.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mechanics Liens</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 4.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Permits and Laws</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 4.3</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Project Company&rsquo;s Improvements</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 4.4</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Removal of Project Company&rsquo;s Improvements</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 4.5</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hazardous Wastes</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 4.6</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insurance</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 4.7</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gates and Fences</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 4.8</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Site Rules</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="4"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ARTICLE V. Owner Covenants</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"></FONT></TD>
    <TD STYLE="text-align: center">9</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title and Authority</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cooperation to Eliminate Lien Interference</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;9</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.3</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quiet Enjoyment</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.4</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exclusivity</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.5</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hazardous Materials</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.6</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mineral Rights and Lateral Support</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 5.7</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operation of the Solar Facilities</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="4"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ARTICLE VI. Indemnification</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"></FONT></TD>
    <TD STYLE="text-align: center">11</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 6.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indemnification</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="4"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ARTICLE VII. Assignment; Encumbrance of Lease</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"></FONT></TD>
    <TD STYLE="text-align: center">12</TD></TR>
</TABLE>

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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">Table of Contents</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">(continued)</P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="4">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center">Page</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="4">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="4"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ARTICLE VII. Assignment; Encumbrance of Lease</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"></FONT></TD>
    <TD STYLE="text-align: center">12</TD></TR>

<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="4">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 7.1</FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 75%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Right to Encumber</FONT></TD>
    <TD STYLE="text-align: center; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 7.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assignment of Project Company&rsquo;s Interest</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 7.3</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Continuing Nature of Obligations</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="4"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ARTICLE VIII. Condemnation</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"></FONT></TD>
    <TD STYLE="text-align: center">14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 8.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effect of Condemnation</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 8.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Condemnation Proceeds</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="4"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ARTICLE IX. Default/Termination</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"></FONT></TD>
    <TD STYLE="text-align: center">14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Events of Default</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Surrender</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.3</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specific Performance</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.4</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Damages</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.5</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Waiver of Jury Trial</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 9.6</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delinquent Payments</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="4"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Article x. right of first refusal</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"></FONT></TD>
    <TD STYLE="text-align: center">16</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 10.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Right of First Refusal</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="4"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ARTICLE XI. Miscellaneous</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"></FONT></TD>
    <TD STYLE="text-align: center">16</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 11.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 11.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Relationship of the Parties; No Third Party Beneficiaries</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 11.3</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Entire Agreement</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 11.4</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Governing Law</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 11.5</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cooperation</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 11.6</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Waiver</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 11.7</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Force Majeure</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 11.8</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Confidentiality</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 11.9</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;- <I>(removed) -</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 11.10</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Severability</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 11.11</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Counterparts</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 11.12</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Memorandum of Lease</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">CONFIDENTIAL</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>LAND LEASE AND SOLAR EASEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Land Lease and Solar
Easement (&ldquo;<B>Lease</B>&rdquo;) is made on August 24, 2023 (the &ldquo;<B>Effective Date</B>&rdquo;) between JORDAN HUNTER LATHAM
(&ldquo;<B>Owner</B>&rdquo;), and MALAKOF SOLAR HOLDINGS LLC, a Delaware limited liability company, and its successors and assigns (&ldquo;<B>Project
Company</B>&rdquo;). Owner and Project Company agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ARTICLE I. Premises</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 1.1 General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) <B>Lease
of Premises for Solar Energy Purposes</B>. Owner leases to Project Company, and Project Company leases from Owner, the real property legally
described in Exhibit A attached hereto (the &ldquo;<B>Premises</B>&rdquo;) for the sole purpose of monitoring, testing and evaluating
the Premises for solar energy generation and of constructing, installing, using, replacing, relocating and removing from time to time,
and maintaining and operating, solar energy generating equipment, overhead and/or underground electrical transmission and communications
lines, electric transformers, energy storage facilities, telecommunications equipment, power generation facilities and substations to
be operated in conjunction with solar energy generating equipment installations, roads, and related improvements, facilities and equipment
(collectively, &ldquo;<B>Solar Facilities</B>&rdquo;), including, without limitation, a line or lines of towers with wires and cables,
and/or underground wires and cables, for the transmission of electrical energy and/or for communication purposes, and all necessary and
proper foundations, footings, crossarms and other appliances and fixtures for use in connection with said towers, wires and cables on,
along and in the Premises, together with the appropriate rights of way. Project Company will have the right to relocate existing Solar
Facilities during the Term. Project Company will have the exclusive right to use the Premises for solar energy purposes. For purposes
of this Lease, &ldquo;solar energy purposes&rdquo; means converting solar energy into electrical energy, and collecting and transmitting
the electrical energy so converted, together with any and all activities related thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The general description of
the Premises described in <U>Exhibit A</U> attached to this Lease on the Effective Date may not be a precise legal description of the
Premises. The Owner and Project Company hereby acknowledge and confirm that, notwithstanding any insufficiency in the legal description
attached as <U>Exhibit A</U>, the parties desire to enter this Lease and to be fully and legally bound by this Lease. Therefore, Owner
and Project Company agree that (i) they are thoroughly familiar with the proposed location of the area comprising the Premises, and (ii)
upon Project Company obtaining a Survey (as defined below), the metes and bounds description of the Premises will be substituted for <U>Exhibit
A</U> pursuant to an amendment to this Lease and such metes and bounds description will become the final legal description of the Premises.
The parties acknowledge and agree that they are legally bound under this Lease pursuant to the depiction of the Premises attached as <U>Exhibit
A</U> and both parties will be obligated to perform hereunder based on such depiction of the Premises. Prior to the construction of any
Solar Facilities on the Premises, Project Company, at its expense, will obtain and deliver to Owner a survey of the Property prepared
by a Texas registered professional land surveyor (the &ldquo;<B>Survey</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) <B>Access
Easement</B>. Owner hereby grants to Project Company, for the Term (as defined below), an easement (the &ldquo;<B>Access Easement</B>&rdquo;)
over, across and on the Premises for ingress to and egress from the Solar Facilities (whether located on the Premises, on adjacent property
or elsewhere) by means of any existing roads and lanes, or by such route or routes as Project Company may construct from time to time.
The Access Easement will include the right to improve existing roads and lanes, or to build new roads, and will run with and bind the
Premises, and will inure to the benefit of and be binding upon Owner and Project Company, as applicable, and their respective heirs, personal
representatives, transferees, successors and assigns, and all persons claiming under them. The location and dimensions of such access
roads will be made by Project Company in its sole discretion, except that: Project Company agrees to use commercially reasonable efforts
to (i) minimize the interruption to Owner&rsquo;s operations on the Premises by such access roads, and (ii) install such access roads
perpendicular to county roads.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) <B>Transmission
Easement</B>. Owner hereby grants Project Company one or more easements for Transmission Facilities (defined below) (&ldquo;<B>Transmission
Easements</B>&rdquo;) on, over and across the Premises, on such portions of the Premises as will be notified to Owner by Project Company.
Any such Transmission Easement will contain all of the rights and privileges for Transmission Facilities as are set forth in this Lease.
Any Transmission Easement will also include the right of ingress to and egress from the Solar Facilities (whether located on the Premises,
on adjacent property or elsewhere) over and along the Premises by means of roads and lanes thereon if existing, or otherwise by such route
or routes as Project Company or Owner may construct from time to time. The term of the Transmission Easements will be the same as the
term of this Lease unless terminated by Project Company by written notice to Owner as set forth herein, and will not expire or be terminable
by Owner under any circumstances. Project Company will have the right to assign or convey all or any portion of any Transmission Easement
to any person on an exclusive or nonexclusive basis. Any Transmission Easement will run with the Premises and inure to the benefit of
and be binding upon Owner and Project Company and their respective transferees, successors, and assigns, and all persons claiming under
them. Project Company will have the right to assign its rights hereunder relating to the construction, operation, repair and/or maintenance
of the electric transmission or distribution systems to a third party that owns, operates and/or maintains electric transmission or distribution
systems. As used in this Lease, the term &ldquo;<B>Transmission Facilities</B>&rdquo; means electrical transmission and/or distribution
and communications lines and related cables, wires, conduit, circuit breakers and transformers, and any and all necessary and proper facilities,
fixtures, and additional equipment any way related to or associated with any of the foregoing for the transmission and delivery of electrical
energy. Transmission Facilities will be deemed to be Solar Facilities. Project Company will bury all collector lines that are 138kv or
less, except such lines that Project Company, in good faith, determines that it is unable to bury for technical reasons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d) <B>Owner&rsquo;s
Retained Rights</B>. Owner will retain the right to use the portion of the Premises not occupied by Solar Facilities to the extent its
use is not inconsistent with Project Company&rsquo;s rights under this Lease for uses solely intended to qualify Premises for Texas Agricultural
Tax Exemption, not before five years prior to lease expiration, starting five years prior to the end of the Operating Term or the Renewal
Term, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e) <B>Location
of Solar Facilities</B>. Project Company will make good faith efforts to consult with Owner on its site development plan prior to construction
of solar facilities, roads and electric power lines, provided that Project Company will make all such final siting decisions in Project
Company&rsquo;s sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)  <B>Part
of a Larger Project</B>. Owner acknowledges that Project Company may elect to develop commercial solar energy facilities with which the
Premises will share structural and transmission components, ingress and egress, utility access, and other support, all of which are specifically
designed to be interrelated and integrated in operation and use for the full life of such facilities. Project Company may designate, from
time to time, the solar energy facilities with which the Premises is included in a defined solar energy project (the &ldquo;<B>Project</B>&rdquo;).
The properties designated by Project Company as included in the Project with the Premises will be referred to as the &ldquo;<B>Project
Properties</B>.&rdquo; Nothing contained in this Lease will be construed as requiring Project Company to construct or operate the Project
or continue the operation of the Project or any portion thereof, if it is so constructed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 1.2 Solar Easement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) <B>Open
Access to Sun</B>. Owner hereby grants and conveys to Project Company an exclusive easement on, over and across the Premises for the following:
the open and unobstructed access to the sun to any Solar Facilities on any of the Project Properties and to ensure adequate exposure of
the Solar Facilities to the sun. In addition, Owner hereby grants and conveys to Project Company an exclusive easement prohibiting any
obstruction to the open and unobstructed access to the sun (together with the preceding sentence, the &ldquo;<B>Solar Easement</B>&rdquo;)
throughout the entire Premises to and for the benefit of the area existing horizontally three hundred and sixty degrees (360&deg;) from
any point where any Solar Facility is or may be located at any time from time to time (each such point referred to as a &ldquo;<B>Site</B>&rdquo;)
and for a distance from each Site to the boundaries of the Premises, together vertically through all space located above the surface of
the Premises, that is, one hundred eighty degrees (180&deg;) or such greater number or numbers of degrees as may be necessary to extend
from each point on and along a line drawn along the surface from each point along the exterior boundary of the Premises through each Site
to each point and on and along such line to the opposite exterior boundary of the Premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) <B>Owner
Improvements</B>. Trees, buildings and other improvements located on the Premises as of the date of this Lease will be allowed to remain,
and Project Company may not require their removal. Owner may not place or plant any trees, buildings or improvements (an &ldquo;<B>Improvement</B>&rdquo;)
on the Premises after the date of this Lease which may, in Project Company&rsquo;s sole judgment, impede or materially interfere with
the open and unobstructed access to the sun to any Site or Facility (located either on the Premises or on the Project Properties), unless
Owner has received written approval from Project Company for any such trees, structure or improvement. Subject to the foregoing, Owner
may construct an Improvement of the Premises if such Improvement meets all of the following requirements:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">Such Improvement poses no interference with any part of the Solar Facilities located on the Premises or
elsewhere in the Project; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Such Improvement is located at least <B>five hundred (500)</B> feet from the location of any Site (whether
such Site is located on the Premises or elsewhere in the Project).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">(an Improvement that complies
with all of the foregoing restrictions will be referred to as a &ldquo;<B>Permitted Improvement</B>&rdquo;). Owner may construct such
Permitted Improvements without the prior consent of Project Company. However, should Owner construct an Improvement that is determined
by Project Company to violate or not be in compliance with any of the restrictions of this section, Project Company may provide notice
to Owner that said Improvement must to be removed within thirty (30) days of Owner&rsquo;s receipt of Project Company&rsquo;s notice.
Should Owner fail to remove the non-complying Improvement within such thirty (30) day period, Project Company may cause the same to be
removed and may off-set the cost of the removal against any lease payments due hereunder to Owner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) <B>No
Interference</B>. Owner will not materially interfere with, and will not allow any other party to materially interfere with, the free,
unobstructed and open and unobstructed access to the sun, over and across the Premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ARTICLE II. Lease Term</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 2.1 Development
Period; Operating Term; Renewal Terms</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) <B>Development
Period</B>. Project Company&rsquo;s rights under this Lease will be in effect throughout the Development Period. The &ldquo;Development
Period&rdquo; commences on the Effective Date of this Lease and expires on June 18, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) <B>Operating
Term</B>. This Lease will automatically be extended for the Operating Term upon the earlier of: (i) the date when significant construction
of the Solar Facilities commences (defined as the date on which the use of a majority of the land within the Premises changes from its
existing state to allow for the construction of the Solar Facilities; or (ii) the date when Owner receives written notice from Project
Company of Project Company&rsquo;s election to extend the Term for the Operating Term (&ldquo;<B>Operating Term Notice Date</B>&rdquo;),
provided that either the Operation Date or the Operating Term Notice Date occurs prior to the expiration of the Development Period. The
Operating Term of this Lease (&ldquo;<B>Operating Term</B>&rdquo;) will be for a period of twenty-five (25) years from the earlier of
either the Operation Date or the Operating Term Notice Date, as applicable, unless terminated earlier in accordance with the terms of
this Lease. The Development Period ends at the time the Operating Term begins.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) <B>Renewal
Term</B>. Project Company will have the right, at its option, to extend the Operating Term for one (1) additional period of ten (10) years
(the &ldquo;<B>Renewal Term</B>&rdquo;). To exercise its option to renew the Term for the Renewal Term, Project Company must deliver a
written extension notice to Owner prior to the expiration of the Operating Term. Project Company must timely deliver such written notice
to exercise effectively its options to extend the Term for the Renewal Term. The terms of the Lease during the Renewal Term will be the
same terms and conditions applicable during the Operating Term, except as specifically provided herein. Project Company will have no right
to extend the Term beyond the Renewal Term. If Project Company fails timely to deliver the extension notice, this Lease will terminate
at the end of the Operating Term, and Project Company will have no further options or rights to renew or extend the Term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d) <B>Entire
Term</B>. The &ldquo;<B>Term</B>&rdquo; of this Lease will be the Development Period together with, if Project Company exercises the applicable
options, the Operating Term and the Renewal Term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 2.2 Termination
of Lease</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The occurrence of any of the
following events will terminate this Lease:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) The
expiration of this Lease as set forth in Section 2.1; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) The
written agreement of the parties to terminate this Lease; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) A
Breach (as defined below) of this Lease by either party and the election of the non-breaching party to terminate the Lease pursuant to
Article IX; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e) A
condemnation of all or a portion of the Premises and the election of the Project Company to terminate the Lease pursuant to Article VIII;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f) Pursuant
to applicable law, except that if any such applicable law is amended or terminated after the date hereof, and the effect of such amendment
or termination is to extend the permissible development period to or eliminate the requirement that commercial operation or the development
of the potential to produce solar energy begin within a specified time period, then this Lease will automatically be amended to incorporate
such amendment or termination, as if such amendment or termination was fully incorporated herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 2.3 Survival of
Covenants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner acknowledges that the
covenants, conditions, rights and restrictions in favor of Project Company pursuant to this Lease including, but not limited to, the Access
Easement and Solar Easement, and Project Company&rsquo;s use of and benefit from those covenants, conditions, rights and restrictions,
may constitute a portion of the Project and that the covenants, conditions, rights and restrictions in favor of Project Company pursuant
to this Lease will not be deemed nominal, invalid, inoperative or otherwise be disregarded while any portion of the Project remains operational.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ARTICLE III. Payments and
Taxes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 3.1 Payments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project Company will pay Owner
according to the Payment Terms set forth in <U>Exhibit D</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 3.2 Taxes, Assessments
and Utilities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) Owner
Taxes and Assessments. Owner will pay, when due, all real property taxes and assessments levied against the Premises and all personal
property taxes and assessments levied against any property and improvements owned by Owner and located on the Premises. If Owner will
fail to pay any such taxes or assessments when due, Project Company may, at its option, pay those taxes and assessments and any accrued
interest and penalties, and either seek reimbursement from Owner or deduct the amount of its payment from any rent or other amount otherwise
due to Owner from Project Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) Project
Company Taxes and Assessments. Project Company will pay all personal property taxes and assessments levied against the Solar Facilities
when due, including any such taxes based on electricity production. If the real property taxes assessed to such Premises increase solely
as a result of the installation of the Solar Facilities on the Premises, including any reclassification of the Premises, Project Company
will pay or reimburse Owner an amount equal to the increase to the extent caused by such installation no later than ten (10) days prior
to the date each year on which the applicable real estate taxes are due to be paid, provided that not less than thirty (30) days prior
to such due date Owner provides Project Company with copies of the applicable current and past statements of real estate taxes payable
for the Premises and any related information demonstrating that the installation of the Solar Facilities resulted in the increase in real
estate taxes for which Owner is requiring payment or reimbursement from Project Company. Owner and Project Company agree jointly to use
commercially reasonable efforts to cause the Premises not to be reclassified from its present agricultural or open space exemption as
a result of this Lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Tax
Contest. Either party may contest the validity or amount of any levied taxes, assessments or other charges for which each is responsible
under this Lease as long as such contest is pursued in good faith and with due diligence and the party contesting the tax, assessment
or charge has paid the obligation in question or established adequate reserves to pay the obligation in the event of an adverse determination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d) Project
Company Utilities. Project Company will pay for all water, electric, telecommunications and any other utility services used by the Solar
Facilities or Project Company on the Premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ARTICLE IV. Project Company&rsquo;s
Covenants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project Company covenants,
represents and warrants to Owner as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 4.1 Mechanics
Liens</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project Company will keep
the Premises free and clear of all liens and claims of liens for labor, materials, services, supplies and equipment performed for or furnished
to Project Company or, at the request of Project Company, any Solar Facility on the Premises in connection with Project Company&rsquo;s
use of the Premises. Project Company may contest any such lien, but will post a bond or utilize other available means to remove any lien
that is created during the contested proceeding. Project Company agrees to otherwise remove any lien or encumbrance for which it is responsible
pursuant to this paragraph within sixty (60) days of notice to Project Company of the creation of any such lien or encumbrance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 4.2 Permits and
Laws</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project Company and its designees
will at all times comply with all federal, state and local laws, statutes, ordinances, rules, regulations, judgments and other valid orders
of any governmental authority applicable with respect to Project Company&rsquo;s activities pursuant to this Lease and will obtain all
permits, licenses and orders required to conduct any and all such activities (collectively, &ldquo;<B>Legal Requirements</B>&rdquo;).
Project Company will have the right, in its sole discretion, to contest by appropriate legal proceedings brought in the name of Project
Company or in the names of both Project Company and Owner where appropriate or required, the validity or applicability to the Premises
or Solar Facilities of any Legal Requirement now or hereafter made or issued by any federal, state, county, local or other governmental
agency or entity. Owner will cooperate in every reasonable way in such contest, provided Project Company reimburses Owner for its reasonable
and actual out-of-pocket expense directly incurred in connection with such cooperation, to the extent Project Company has approved such
expense in advance. Any such contest or proceeding, including any maintained in the name of Owner, will be controlled and directed by
Project Company, but Project Company will protect Owner from Project Company&rsquo;s failure to observe or comply during the contest with
the contested Legal Requirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 4.3 Project Company&rsquo;s
Improvements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All Solar Facilities constructed,
installed or placed on the Premises by Project Company pursuant to this Lease will be and remain the sole property of Project Company
and Owner will have no ownership or other interest in any Solar Facilities on the Premises. The Solar Facilities are and will remain personal
property of the Project Company, notwithstanding any present or future common ownership of the Solar Facilities and the Premises. Throughout
the Term, Project Company will, at its sole cost and expense, maintain Project Company&rsquo;s Solar Facilities in good condition and
repair, ordinary wear and tear excepted. After the construction of the Solar Facilities, Project Company will remove any construction
debris and will restore the portions of the Premises not occupied by the Solar Facilities to substantially the same condition that such
portions of the Premises were in prior to the construction of the Solar Facilities. All Solar Facilities constructed, installed or placed
on the Premises by Project Company pursuant to this Lease may be moved, removed, replaced, repaired or refurbished by Project Company
at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 4.4 Removal of
Project Company&rsquo;s Improvements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) <B>Project
Company Will Remove Solar Facilities</B>. At the end of the Term, including upon any early termination of the Lease, Project Company will
remove all its Solar Facilities, including any foundations, to a depth of three (3) feet below grade, within twelve (12) months from the
date the Term expires or the Lease terminates. Owner grants Project Company an easement for such removal, which easement will survive
for twelve (12) months after the expiration or termination of this Lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) <B>Owner&rsquo;s
Right to Remove Solar Facilities Upon Failure by Project Company</B>. If Project Company fails to remove any of the Solar Facilities within
the required time period, such Solar Facilities will be considered abandoned by Project Company and Owner may remove these Solar Facilities
from the Premises and dispose of them in its sole discretion without notice or liability to Project Company. In such event, if Owner removes
such Solar Facilities at Owner&rsquo;s expense, Project Company will reimburse Owner for all reasonable costs of removing those Solar
Facilities as required by the Lease, less any salvage value received by Owner, within thirty (30) days after receipt of an invoice from
Owner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) <B>Security
for Removal</B>. Commencing with the fifteenth (15th) year of the Operating Term, Project Company will establish security payable to Owner
to cover Project Company&rsquo;s obligations under Section 4.4(a) above (the &ldquo;<B>Restoration Security</B>&rdquo;) though one or
the following means to be selected by Project Company in its sole discretion: (i) by establishing an escrow account with a bank selected
by Owner, or (ii) by delivering to Owner a bond or corporate guarantee from an investment grade company or equivalent security. The amount
of the Restoration Security will be equal to the Net Removal Cost (as defined below), which will be determined by the parties in good
faith; provided, however, if the parties cannot agree upon the Net Removal Cost within sixty (60) days, then the Net Removal Cost will
be determined by an independent engineer mutually selected by the parties. The terms of any escrow fund, letter of credit, corporate guarantee
or bond will expressly provide that Owner will be entitled to use amounts received from the Restoration Security to remedy any damage
to the Premises if Project Company fails to comply with its obligations pursuant to Section 4.4(a), after notice and opportunity to cure
as provided herein. Interest earnings, if any, on any escrow fund will be the property of Project Company, and any amounts remaining in
any escrow fund after Project Company has complied with its obligations pursuant to Section 4.4(a) will belong to Project Company. As
used herein &ldquo;Net Removal Cost&rdquo; means (1) the cost of performing Project Company&rsquo;s obligations under Section 4.4(a) <U>minus</U>
(2) the salvage value of the Solar Facilities located on the Premises at the time such calculation is made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 4.5 Hazardous
Wastes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project Company will not use,
dispose of or release on the Premises or cause or permit to exist or be used, stored, disposed of or released on the Premises as a result
of Project Company&rsquo;s operations, any substance which is defined as a &ldquo;hazardous material&rdquo;, &ldquo;toxic substance&rdquo;
or &ldquo;solid waste&rdquo; in any Legal Requirement except in such quantities as may be required in its normal business operations and
only if such use is in full compliance with all Legal Requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 4.6 Insurance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project Company will obtain
and maintain in force the following policies of insurance covering the Solar Facilities and Project Company&rsquo;s activities on the
Premises at all times during the Term: comprehensive general liability insurance with minimum coverage of at least $500,000 for property
damage, $1,000,000 for bodily injury or death to any one person, and a minimum combined occurrence and annual coverage of $2,000,000.
Such insurance coverage for the Solar Facilities and Premises may be provided as part of a blanket policy that covers other Solar Facilities
or properties as well. Any such policies will provide for thirty (30) days prior written notice to Owner of any cancellation or material
change. Project Company will provide Owner with copies of certificates of insurance evidencing tis coverage upon request by Owner. Policies
will provide coverage for any costs of defense or related fees incurred by Owner. No coverage is provided for liability arising out of
Owner&rsquo;s own negligent or intentional act or omission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 4.7 Gates and
Fences</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If necessary and as mutually
agreed by the parties, Project Company will make such fence cuts, braces, and repairs that will be permanent and remain functional for
the remaining life of the fence of which they are part (any such cuts will be reinforced with bracer posts on each side of the cut, and
the opening will be repaired to the same quality as the existing fence); alternatively, Owner may require Project Company to install a
cattle guard in lieu of any external gate used by Project Company. During construction or operation of the Solar Facilities, Project Company
will close any gates used by its personnel except when open to permit the passage of vehicular traffic, so that Owner&rsquo;s livestock
do not stray or escape through such gates. If Owner maintains locks on exterior gates, Owner will provide Project Company with keys or
with the combinations to such locks. Upon the termination of this Lease, any cattle guards or gates installed by Project Company will
become the property of Owner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 4.8 Site Rules</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">While on the Premises, Project
Company will use commercially reasonable efforts to comply with the site rules attached hereto as <U>Exhibit E</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ARTICLE V. Owner Covenants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner covenants, represents
and warrants to Project Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 5.1 Title and
Authority</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except to the extent otherwise
stated in this Lease, Owner is the sole owner of the Premises in fee simple and each person or entity signing the Lease on behalf of Owner
has the full and unrestricted authority to execute and deliver this Lease and to grant the leaseholds, easements and other rights granted
to Project Company herein. There are no encumbrances or liens (including farm or other tenancies) against the Premises except those which
are listed on <U>Exhibit C</U>, attached hereto and incorporated by reference (the &ldquo;<B>Encumbrances</B>&rdquo;). Owner agrees to
deliver any documents necessary to correct any title defects. All persons having any ownership interest in the Premises (including spouses)
are signing this Lease as Owner. When signed by Owner, this Lease constitutes a valid and binding agreement enforceable against Owner
in accordance with its terms. Owner expressly waives any and all existing and future statutory, common law and other liens on the Solar
Facilities that Owner may have under applicable law. To the extent that any such lien cannot be waived under applicable law, Owner hereby
subordinates such lien to all existing and future liens and security interests in favor of Project Company&rsquo;s creditors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 5.2 Cooperation
to Eliminate Lien Interference</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner will cooperate with
Project Company to obtain non-disturbance and subordination agreements, or such other necessary agreements, from any person or entity
with a lien, encumbrance, mortgage, deed of trust, lease or other exception to Owner&rsquo;s fee title to the Premises to the extent necessary
to eliminate any actual or potential interference by any such lienholder with any rights granted to Project Company under this Lease (including,
but not limited to any Wetlands Reserve Program (&ldquo;<B>WRP</B>&rdquo;) or Conservation Reserve Program (&ldquo;<B>CRP</B>&rdquo;)).
Owner will also cooperate with Project Company to obtain and maintain any permits or approvals needed for the Solar Facilities. Owner
will also provide Project Company with such further assurances and will execute any estoppel certificates, consents to assignments, non-disturbance
and subordination agreements, or additional documents that may be reasonably necessary for recording purposes or requested by Project
Company or any of its lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 5.3 Quiet Enjoyment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As long as Project Company
is not in Breach of this Lease, Project Company will have the quiet use and enjoyment of the Premises in accordance with the terms of
this Lease without any interference of any kind by Owner or any person claiming through Owner. Owner and its activities on the Premises
and any grant of rights Owner makes to any other person will be only as permitted under this Lease and will not interfere with any of
Project Company&rsquo;s rights or activities pursuant to this Lease, and Owner will not interfere or allow interference with any of Project
Company&rsquo;s rights or activities pursuant to this Lease, and Owner will not materially interfere or allow material interference with
the solar speed or solar direction over the Premises or otherwise engage in activities or allow any activities which might impede or decrease
the output or efficiency of the Solar Facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 5.4 Exclusivity</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project Company will have
the sole and exclusive rights to install and operate Solar Facilities on the Premises, to use the Premises for solar energy purposes and
to convert all of the solar resources of the Premises. In no event during the Term will Owner construct, build or locate or allow others
to construct, build or locate any solar energy facility or similar project on the Premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 5.5 Hazardous
Materials</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner will not use, store,
dispose of or release on the Premises or cause or permit to exist or be used, stored, disposed of or released on the Premises as a result
of Owner&rsquo;s operations, any substance which is defined as a &ldquo;hazardous substance&rdquo;, &ldquo;hazardous material&rdquo;,
or &ldquo;solid waste&rdquo; in any Legal Requirement, except in such quantities as may be required in the operations Owner is permitted
to conduct on the Premises and only if such use is in full compliance with all Legal Requirements. Owner represents and warrants to Project
Company that, as of the date hereof, there is no &ldquo;hazardous substance&rdquo;, &ldquo;hazardous material&rdquo;, or &ldquo;solid
waste&rdquo; on, in or under the Premises in violation of any Legal Requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 5.6 Mineral Rights
and Lateral Support</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) &ldquo;Subsurface
Interests&rdquo; include, but are not limited to oil, gas, coal, cement materials, sodium sulfate, sand and gravel, scoria, road material,
building stone, chemical substances, metallic ores, uranium ores, or colloidal or other clays.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) If
Owner does not own 100% of the Subsurface Interests in and under the Premises, or leases the Subsurface Interests relating to Premises,
then Owner will disclose such to Project Company on <U>Exhibit B</U>. This Lease will not be interpreted to prevent Owner from leasing
and developing Subsurface Interests on Premises, provided that any future leasing, development or transfer of the Subsurface Interests
will be subject to this Lease. Owner will notify Project Company as soon as Owner knows of Subsurface Interest exploration or production
plans. Owner will cooperate with Project Company in the exercise of Owner&rsquo;s Subsurface Interest rights to minimize interference,
at no cost to Owner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) If
Owner does not own 100% of the Subsurface Interests in and under the Premises, or leases the Subsurface Interests relating to Premises,
Owner agrees to cooperate with Project Company&rsquo;s efforts to obtain a cooperation or accommodation agreement relating to the exploring,
drilling, or mining for or producing of Subsurface Interests on Premises from the owner or lessee of such Subsurface Interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d) If
Owner owns 100% of the Subsurface Interests in and under the Premises, and does not lease the Subsurface Interests relating to Premises,
Project Company will have and exercise the right of subjacent and lateral support for the Solar Facilities on the Premises to whatever
extent is necessary for the safe construction, operation and maintenance on the Solar Facilities. Owner expressly covenants that Owner
will not excavate so near the sides of or underneath the Solar Facilities as to undermine or otherwise adversely affect their stability.
Neither Owner nor its successors or assigns will be entitled to use, or authorize the use of, any portion of the surface of the Premises
located within three hundred (300) feet of any existing or proposed Solar Facility or within one hundred (100) feet of an existing or
proposed transmission line (or any other portion of the Premises that would unreasonably interfere with the use by Project Company of
the Premises) for the purpose of exploring, drilling, or mining for or producing Subsurface Interests, without the prior written consent
of Project Company, which consent will not be unreasonably withheld, delayed or denied. Owner agrees that the new agreement affecting
Subsurface Interests will expressly provide that such holder will not conduct any activities within the areas described in this Section
5.6 and will not otherwise interfere with Project Company&rsquo;s rights under the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 5.7 Operation
of the Solar Facilities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner acknowledges and understands
that the Solar Facilities to be located on the Premises, or in connection with the Project on adjacent property may impact the view on
the Premises or on adjacent Premises or otherwise cause visual effects. Owner covenants and agrees that the Owner will not assert that
the Solar Facilities constitute a nuisance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>ARTICLE VI. Indemnification</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 6.1 Indemnification</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each party (the &ldquo;Indemnifying
Party&rdquo;) agrees to defend, indemnify and hold harmless the other party and the other party&rsquo;s officers, directors, employees,
representatives and agents (collectively the &ldquo;Indemnified Party&rdquo;) against any and all losses, damages, claims, expenses and
liabilities for physical damage to property and for physical injury to any person, including, without limitation, reasonable attorneys&rsquo;
fees, to the extent resulting from or arising out of (i) any operations or activities of the Indemnifying Party on the Premises or (ii)
any negligent or intentional act or omission on the part of the Indemnifying Party with respect to this Lease or the Premises. This indemnification
will not apply to losses, damages, claims, expenses and liabilities to the extent caused by any negligent or intentional act or omission
on the part of the Indemnified Party. This indemnification will survive the termination of this Lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ARTICLE VII. Assignment; Encumbrance
of Lease</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 7.1 Right to Encumber</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) <B>Project
Company Right to Mortgage Leasehold Interest</B>. Project Company may at any time mortgage all or any part of its interest in the Lease
and rights under this Lease and/or enter into a collateral assignment of all or any part of its interest in the Lease or rights under
this Lease to any entity (&ldquo;Lender&rdquo;) without the consent of Owner. Any Lender will have no obligations under this Lease until
such time as it exercises its rights to acquire Project Company&rsquo;s interests subject to the lien of Lender&rsquo;s mortgage by foreclosure
or otherwise assumes the obligations of Project Company directly. Project Company will undertake reasonable efforts to notify Owner of
the identity and notice address for any Lender, but failure to do so will not be considered a default hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) <B>Amendment
Requires Lender Consent</B>. Owner and Project Company agree that, once all or any part of Project Company&rsquo;s interests in the Lease
are mortgaged or assigned to a Lender, they will not modify or terminate this Lease without the prior written consent of the Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) <B>Lender
Right to Cure Project Company Default</B>. Owner agrees that any Lender will have the right to make any payment and to do any other act
or thing required to be performed by Project Company under this Lease, and any such payment, act or thing performed by Lender will be
effective to prevent a Breach by Project Company and any forfeiture of any of Project Company&rsquo;s rights under this Lease as if done
by Project Company itself.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d) <B>Notice
from Owner to Lender in Case of Project Company Default</B>. During the time all or any part of Project Company&rsquo;s interests in the
Lease are mortgaged or assigned to any Lender, if Project Company defaults under any of its obligations and Owner is required to give
Project Company notice of the default, Owner will also be required to give Lender notice of the default. If Owner becomes entitled to
terminate this Lease due to an uncured default by Project Company, Owner will not terminate this Lease unless it has first given written
notice of the uncured default and of its intent to terminate this Lease to the Lender and has given the Lender at least thirty (30) days
from such notice to cure the default to prevent termination of this Lease. If within such thirty (30) day period the Lender notifies the
Owner that it must foreclose on Project Company&rsquo;s interest or otherwise take possession of Project Company&rsquo;s interest under
this Lease in order to cure the default, Owner will not terminate this Lease and will permit the Lender a reasonable period of time necessary
for the Lender, with the exercise of due diligence, to foreclose or acquire Project Company&rsquo;s interest under this Lease and to perform
or cause to be performed all of the covenants and agreements to be performed and observed by Project Company. The time within which Lender
must foreclose or acquire Project Company&rsquo;s interest will be extended to the extent Lender is prohibited by an order or injunction
issued by a court or the operation of any bankruptcy or insolvency law from commencing or prosecuting the necessary foreclosure or acquisition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e) <B>Recognition
of Lender as Successor</B>. The acquisition of all or any part of Project Company&rsquo;s interests in the Lease by any Lender through
foreclosure or other judicial or non-judicial proceedings in the nature of foreclosure, or by any conveyance in lieu of foreclosure, will
not require the consent of Owner nor constitute a Breach or default of this Lease by Project Company, and upon the completion of the acquisition
or conveyance, Owner will acknowledge and recognize Lender as Project Company&rsquo;s proper successor under this Lease upon Lender&rsquo;s
cure of any existing Project Company defaults and assumption of the obligations of Project Company under this Lease prospectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f) <B>New
Lease</B>. In the event this Lease is rejected by a trustee or a debtor-in possession in any bankruptcy or insolvency proceeding, Owner
agrees, upon request by any Lender within sixty (60) days after the rejection or termination, to execute and deliver to Project Company
or Lender a new lease for the Premises which (i) will be effective as of the date of the rejection or termination of this Lease, (ii)
will be for a term equal to the remainder of the Term before giving effect to such rejection or termination, and (iii) will contain the
same terms, covenants, agreements, provisions, conditions and limitations as are contained in this Lease (except for any obligations or
requirements which have been fulfilled by Project Company or Lender prior to rejection or termination). Prior to the execution and delivery
of any such new lease Project Company, or Lender, will (i) pay Owner any amounts which are due Owner from Project Company, (ii) pay Owner
any and all amounts which would have been due under this Lease but for the rejection or termination from the date of the rejection or
termination to the date of the new lease and (iii) agree in writing to perform or cause to be performed all of the other covenants and
agreements to be performed by Project Company under this Lease to the extent Project Company failed to perform them prior to the execution
and delivery of the new lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 7.2 Assignment
of Project Company&rsquo;s Interest</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project Company and any successor
or assign of Project Company will at all times have the right, without need for Owner&rsquo;s consent, to do any of the following, conditionally
or unconditionally, with respect this Lease or to all or any portion of the Premises: grant co-leases, separate leases, subleases, easements,
licenses or similar rights (however denominated) to one or more third parties; or sell, convey, lease, assign, mortgage, encumber or transfer
to one or more third parties or to any affiliate of Project Company&rsquo;s this Lease, or any right or interest in this Lease, or any
or all right or interest of Project Company in the Premises or in any or all of the Solar Facilities that Project Company or any other
party may now or hereafter install on the Premises provided that (i) any such assignment, transfer or conveyance will not be for a period
beyond the Term; (ii) the assignee or transferee will be subject to all of the obligations, covenants and conditions applicable to the
Project Company; and (iii) Project Company will not be relieved from liability for any of its obligations under this Lease by virtue of
the assignment or conveyance unless Project Company assigns or conveys all of its interests under the Lease to the assignee or transferee,
in which event Project Company will have no continuing liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 7.3 Continuing
Nature of Obligations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a) <B>Benefits
are &ldquo;In Gross&rdquo;</B>. The Solar Easement and all other easements and related rights granted by Owner in this Lease to Project
Company are easements &ldquo;in gross&rdquo;, which means, among other things, that they are interests personal to and for the benefit
of Project Company, and its successors and assigns, as owner of the rights created by the Solar Easement and such other easements. The
Access Easement, the Solar Easement and other rights granted Project Company by Owner in this Lease are independent of any lands or estates
or interest in lands, there is no other real property benefiting from the Solar Easement and, as between the Premises and other tracts
of property on which Project Company may locate Solar Facilities, no tract is considered dominant or servient as to the other.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) Burdens
Run With and Against the Land. The burdens of the Solar Easement, the Access Easement and all other rights granted to Project Company
in this Lease will run with and against the Premises and will be a charge and burden on the Premises and will be binding upon and against
Owner and its successors, assigns, permittees, licensees, lessees, employees and agents. The Lease, the Access Easement and the Solar
Easement will inure to the benefit of Project Company and its successors, assigns, permittees, licensees and Project lessees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>ARTICLE VIII. Condemnation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 8.1 Effect of
Condemnation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If eminent domain proceedings
are commenced against all or any portion of the Premises, and the taking and proposed use of such property would prevent or adversely
affect Project Company&rsquo;s construction, installation or operation of Solar Facilities on the Premises, at Project Company&rsquo;s
option, the parties will either amend this Lease to reflect any necessary relocation of the Solar Facilities which will preserve the value
and benefit of the Lease to Project Company, together with any corresponding payments, or this Lease will terminate in which event neither
party will have any further obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 8.2 Condemnation
Proceeds</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All payments made by a condemnor
on account of a taking by eminent domain will be the property of the Owner, except that Project Company will be entitled to any award
or amount paid for the reasonable costs of removing or relocating any of the Solar Facilities or the loss of any such Solar Facilities
or the use of the Premises pursuant to the Lease. Project Company will have the right to participate in any condemnation proceedings to
this extent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ARTICLE IX. Default/Termination</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 9.1 Events of
Default</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each of the following will
constitute a &ldquo;<B>Breach</B>&rdquo; that will permit the non-defaulting party to terminate this Lease or pursue other remedies available
at law or equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) any
failure by Project Company to pay any amounts due under Article III if the failure to pay continues for thirty (30) days after written
notice from Owner;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii) any
other breach of this Lease by either party which continues for thirty (30) days after written notice of default from the non-defaulting
party or, if the cure will take longer than thirty (30) days, the length of time necessary to effect cure as long as the defaulting party
is making diligent efforts to cure during that time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 9.2 Surrender</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon the termination or expiration
of this Lease, Project Company will peaceably surrender the Premises to Owner and remove all Solar Facilities from the Premises at Project
Company&rsquo;s expense within twelve months from the date the Lease expires or is terminated. For the period between the date of termination
or expiration of this Lease and the date on which Project Company completes removal of the Solar Facilities as required under Section
4.4 of this Lease, Project Company will continue to pay Solar Rent (as defined in <U>Exhibit D</U>) for each Commercially Operational
Solar Facility installed on the Premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 9.3 Specific Performance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner acknowledges and agrees
that should Owner breach any of its obligations hereunder or otherwise fail to permit Project Company to exercise any of the rights and
privileges granted herein, damages would be difficult to calculate and money damages would not be sufficient to compensate Project Company
for such breach, and therefore, Owner agrees that Project Company will have the right to seek specific enforcement of this Lease. In that
event, Owner agrees that Project Company has no adequate remedy at law, and that an order of specific performance may be granted in favor
of Project Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 9.4 Damages</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOTWITHSTANDING ANYTHING
TO THE CONTRARY IN THIS LEASE, NEITHER PARTY WILL BE ENTITLED TO, AND EACH OF OWNER AND PROJECT COMPANY HEREBY WAIVES ANY AND ALL RIGHTS
TO RECOVER, CONSEQUENTIAL, INCIDENTAL, AND PUNITIVE OR EXEMPLARY DAMAGES, HOWEVER ARISING, WHETHER IN CONTRACT, IN TORT, OR OTHERWISE,
UNDER OR WITH RESPECT TO ANY ACTION TAKEN IN CONNECTION WITH THIS LEASE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 9.5 Waiver of
Jury Trial</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>EACH OF THE PARTIES KNOWINGLY,
VOLUNTARILY AND INTENTIONALLY WAIVES THE RIGHT TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON THIS LEASE, OR ARISING OUT OF,
UNDER OR IN CONNECTION WITH THIS LEASE AND ANY AGREEMENT CONTEMPLATED TO BE EXECUTED IN CONJUNCTION HEREWITH, OR ANY COURSE OF CONDUCT,
COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO IN CONNECTION WITH OR ARISING OUT OF THIS LEASE
OR SUCH AGREEMENTS. EACH OF THE PARTIES TO THIS LEASE WAIVES ANY RIGHT TO CONSOLIDATE ANY ACTION IN WHICH A JURY TRIAL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>HAS BEEN WAIVED WITH ANY
OTHER ACTION IN WHICH A JURY TRIAL CANNOT OR HAS NOT BEEN WAIVED. THIS PROVISION IS A MATERIAL INDUCEMENT TO EACH OF THE PARTIES FOR ENTERING
INTO THIS LEASE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 9.6 Delinquent
Payments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If Project Company fails to
pay Owner any sum to be paid by Project Company hereunder within sixty (60) days after such payment is due, interest on the unpaid amount
will accrue at a rate of five percent (5%) per annum or the maximum rate allowed by law, whichever is less, from thirty (30) days after
the date such payment was due until the date such payment is made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>ARTICLE X. Right of First
Refusal</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 10.1 Right of
First Refusal</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> Owner hereby grants to
Project Company during the Term of this Lease or any extension thereof the Right of First Refusal to purchase the Premises as described
in Exhibit &ldquo;A&rdquo; of this Lease if Owner receives a bona-fide Offer, which Owner is willing to accept, from any party offering
to pay Owner for the purchase of the Premises described in Exhibit &ldquo;A&rdquo; of this Lease. Upon receipt of the Offer Owner shall
immediately provide to Project Company a copy of the Offer which must be in writing, and must set forth the proposed purchaser&rsquo;s
name, address, consideration, and any other material terms of the Offer. Project Company shall have fifteen (15) days after receipt from
Owner of a complete copy of any such Offer to advise Owner in writing of its election to enter into a purchase agreement with Owner on
equivalent terms and conditions. If Project Company fails to notify Owner within the aforesaid fifteen (15) day period of its election
to meet any such bona fide offer, Owner shall have the right to accept said offer. Any purchase granted by Owner in violation of this
provision shall be null and void.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ARTICLE XI. Miscellaneous</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 11.1 Notice</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notices, consents or other
documents required or permitted by this Lease must be given by personal delivery, reputable overnight courier or certified U.S. mail postage
prepaid and will be sent to the respective parties as follows (or at such other address as either party may designate upon written notice
to the other party in the manner provided in this paragraph) and will be deemed delivered upon actual delivery or refusal, if personally
delivered, upon the date of actual delivery or refusal shown on the courier&rsquo;s delivery receipt if sent by overnight courier and
on the fourth business day after deposit in the U.S. mail if sent by certified mail:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 1.25in; text-align: left; text-indent: 0in">To Owner:</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Jordan Hunter Latham</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">125 Hickman St</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Cedar Hill, TX 75104</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">To Project Company:</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Malakoff Solar Holdings, LLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">1914 W. McKinney Street, Unit B</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Huston, TX 77019</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><B>Section 11.2 Relationship
of the Parties; No Third Party Beneficiaries</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The duties, obligations and
liabilities of each of the parties are intended to be several and not joint or collective. This Lease will not be interpreted or construed
to create an association, joint venture, fiduciary relationship or partnership between Owner and Project Company or to impose any partnership
obligation or liability or any trust or agency obligation or relationship upon either party. Owner and Project Company will not have any
right, power, or authority to enter into any agreement or undertaking for, or act on behalf of, or to act or be an agent or representative
of, or to otherwise bind, the other party. Except for the rights of Lenders set forth above, no provision of this Lease is intended to
nor will it in any way inure to the benefit of any third party so as to constitute any such person a third party beneficiary under this
Lease, or of any one or more of the terms of this Lease, or otherwise give rise to any cause of action in any person not a party to this
Lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 11.3 Entire Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">It is mutually understood
and agreed that this Lease constitutes the entire agreement between Owner and Project Company and supersedes any and all prior oral or
written understandings, representations or statements, and that no understandings, representatives or statements, verbal or written, have
been made which modify, amend, qualify or affect the terms of this Lease. This Lease may not be amended except in a writing executed by
both parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 11.4 Governing
Law</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Lease is made in and
will be governed by the laws of the state in which the Premises is located, and the venue for any dispute will be the county in which
the Premises is located. The parties agree that any rule of construction to the effect that ambiguities are to be resolved in favor of
either party will not be employed in the interpretation of this Lease. In interpreting this Lease, time is of the essence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -4.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -4.5pt"><B>Section 11.5 Cooperation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each of the parties, without
further consideration, agrees to execute and deliver such additional documents and take such action as may be reasonably necessary to
carry out the purposes and intent of this Lease and to fulfill the obligations of the respective parties. If, at any time during the Term,
Project Company deems it to be necessary or desirable to meet legal or regulatory requirements, Project Company may request that Owner
reexecute a new lease substantially in the form of this Lease with a term equal to the Term remaining as of the date of execution of the
new lease, and Owner will execute and enter into the new lease with Project Company or its designee. In the event of inaccuracies or insufficiencies
in the legal description of the Premises, this Lease will be amended to correct the inaccuracies or insufficiencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 11.6 Waiver</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Neither party will be deemed
to have waived any provision of this Lease or any remedy available to it unless such waiver is in writing and signed by the party against
whom the waiver would operate. Any waiver at any time by either party of its rights with respect to any rights arising in connection with
this Lease will not be deemed a waiver with respect to any subsequent or other matter. In the event that Project Company makes any overpayments
to Owner hereunder, Project Company will offset the amount of such overpayments to Owner against future payments due to Owner from Project
Company hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 11.7 Force Majeure</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Neither Owner nor Project
Company will be liable to each other, or be permitted to terminate this Lease, for any failure to perform an obligation of this Lease
to the extent such performance is prevented by a Force Majeure, which will mean an event beyond the control of the party affected and
which, by exercise of due diligence and foresight, could not reasonably have been avoided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 11.8 Confidentiality</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner will maintain in the
strictest confidence, for the benefit of Project Company and any assignee or transferee of Project Company, all information pertaining
to the financial terms of or payments under this Lease, Project Company&rsquo;s site or product design, methods of operation, methods
of construction, power production or availability of the Solar Facilities, and the like, whether disclosed by Project Company, any assignee
or transferee, or discovered by Owner, unless such information either (i) is in the public domain by reason of prior publication through
no act or omission of Owner or its employees or agents; or (ii) was already known to Owner at the time of disclosure and which Owner is
free to use or disclose without breach of any obligation to any person or entity. Owner will not use such information for its own benefit,
publish or otherwise disclose it to others, or permit its use by others for their benefit or to the detriment of Project Company, any
assignee or transferee. Notwithstanding the foregoing, Owner may disclose such information to Owner&rsquo;s lenders, attorneys, accountants
and other personal financial advisors solely for use in connection with their representation of Owner regarding this Lease; any prospective
purchaser of the Premises who has a made a written offer to purchase or otherwise acquire the Premises that Owner desires to accept; or
pursuant to lawful process, subpoena or court order requiring such disclosure, provided Owner in making such disclosure advises the party
receiving the information of the confidentiality of the information and obtains the written agreement of said party not to disclose the
information, which agreement will run to the benefit of and be enforceable by Project Company and any assignee or transferee of Project
Company. The provisions of this Section 10.8 will survive the termination or expiration of this Lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 11.9 </B><I>-
(removed) -</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 11.10 Severability</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each provision hereof will
be valid and will be enforceable to the extent not prohibited by law. If any provision hereof or the application thereof to any person
or circumstance will to any extent be invalid or unenforceable, the remaining provisions hereof, or the application of such provision
to persons or circumstances other than those as to which it is invalid or unenforceable, will not be affected thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 11.11 Counterparts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Lease may be executed
in two or more counterparts and by different parties on separate counterparts, all of which will be considered one and the same agreement
and each of which will be deemed an original.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Section 11.12 Memorandum
of Lease</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner and Project Company
will execute in recordable form and Project Company will then record a memorandum of this Lease in the form attached hereto as Exhibit
C. Owner hereby consents to the recordation of the interest of an assignee in the Premises.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
the undersigned have caused this instrument to be executed as of the 17th day of April, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: 0in"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>OWNER </B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>_________________________________________</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">STATE OF _______________ &sect;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1.75in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&sect;.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">COUNTY OF _____________ &sect;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing instrument
was acknowledged before this ____ day of _______, ____, by ___________________.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 40%">_________________________________________</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notary Public</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 40%"><B>PROJECT COMPANY</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>___________________________________</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>___________________________________</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;&nbsp;_________________________________</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Its:&nbsp;&nbsp;_________________________________</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">STATE OF _______________ &sect;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1.75in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&sect;.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">COUNTY OF _____________ &sect;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing instrument
was acknowledged before this ____ day of _______, ____, by ___________________.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 40%">_________________________________________</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notary Public</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify"></P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT D</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PAYMENT TERMS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="text-align: center; width: 20%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Payment</P></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 52%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Description of Payment</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 28%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Timing of Payment</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><B>Development Period Rent</B></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Beginning on the Effective Date, Project Company shall pay to Owner annual rent in the amount of $133.33 per acre of the Premises (applied to 75 acres of the Premises definition) as rent for the Development Period.</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0.15in; padding-left: 5.4pt; text-align: justify">The payment of Development Period Rent, which will comprise of the development period rent for the first year of the Development Period, shall be due within 30 business days of the Effective Date. Any Development Period Rent payments for less than a full calendar year shall be prorated based on the actual number of days of the Development Period in such year.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><B>Construction Staging Area Rent</B></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">During the initial construction of the Project, Project Company shall pay &ldquo;<B>Construction Staging Area Rent</B>&rdquo; to Owner equal to Five Hundred Dollars ($500.00) per year, prorated to forty-two ($42.00) per month, for each acre that Project Company uses for temporary storage, lay down, staging and batch-plant areas (collectively, the &ldquo;Construction Staging Areas&rdquo;); provided, however, that Project Company shall not be required to pay Temporary Storage Rent form any Construction Staging Area (i) located within the Substation Site or (ii) used by Project Company for less than thirty (30) consecutive days. Construction Staging Area Rent shall convert automatically to Operating Term no more than 90 days after commencement of construction, or when Project Company notifies Owner, whichever happens first.</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0.15in; padding-left: 5.4pt; text-align: justify">The Construction Staging Area Rent shall be payable within sixty (60) days after commencement of construction of the Construction Staging Areas, as determined when earth-moving equipment breaks ground on the Construction Staging Areas. Any Construction Staging Area Rent for less than a full twelve-month period shall be prorated based on the actual number of days that Project company used the Construction Staging Area in the applicable period.</TD></TR>
</TABLE>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="26" STYLE="padding-left: 5.4pt; vertical-align: top; width: 20%; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><B>Operating
    Term Lease Schedule</B><TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; white-space: nowrap; vertical-align: bottom; width: 26%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating year</FONT></TD>
    <TD STYLE="border: black 1pt solid; white-space: nowrap; vertical-align: bottom; width: 26%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lease rate <BR>
(per&nbsp;acre)</FONT></TD>
    <TD ROWSPAN="26" STYLE="padding-right: 5.4pt; vertical-align: top; width: 28%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 5.4pt">The first payment of Operating Term, which will comprise of the annual lease payment for the first year of the Operating Term,&nbsp;shall be due within thirty days after the start of the Operating Term. Thereafter, lease payments during the Operating Term shall be paid annually no later than thirty days after the annual anniversary of the Operating Term.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$616.00</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$616.00</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$616.00</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$616.00</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$616.00</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$540.35</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$545.75</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$551.21</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$556.72</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$562.29</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$567.91</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$573.59</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$579.33</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$585.12</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$590.97</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$596.88</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$602.85</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$608.88</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$614.97</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$621.12</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$627.33</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$633.60</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$639.94</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$646.34</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$652.80</FONT></TD></TR>
  </TABLE>
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<DOCUMENT>
<TYPE>EX-4.23
<SEQUENCE>4
<FILENAME>ea020166301ex4-23_ellomay.htm
<DESCRIPTION>FORM OF LAND LEASE AND SOLAR EASEMENT IN CONNECTION WITH CERTAIN USA PV PROJECTS
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 4.23</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LAND LEASE AND SOLAR EASEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Between</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>_______________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>And</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>_______________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Dated as of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>______________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center">Table of Contents</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; text-transform: capitalize">Page</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3">ARTICLE I. PREMISES</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">1</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 12%">Section 1.1</TD>
    <TD STYLE="width: 71%">General</TD>
    <TD STYLE="text-align: center; width: 10%">1</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 1.2</TD>
    <TD>Solar Easement</TD>
    <TD STYLE="text-align: center">3</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3">ARTICLE II. LEASE TERM </TD>
    <TD STYLE="text-align: center; text-transform: uppercase">4</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 2.1</TD>
    <TD>Development Period; Operating Term; Renewal Terms</TD>
    <TD STYLE="text-align: center">4</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 2.2</TD>
    <TD>Termination of Lease</TD>
    <TD STYLE="text-align: center">5</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 2.3</TD>
    <TD>Survival of Covenants</TD>
    <TD STYLE="text-align: center">5</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3">ARTICLE III. PAYMENTS AND TAXES </TD>
    <TD STYLE="text-align: center; text-transform: uppercase">5</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 3.1</TD>
    <TD>Payments</TD>
    <TD STYLE="text-align: center">5</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 3.2</TD>
    <TD>Taxes, Assessments and Utilities</TD>
    <TD STYLE="text-align: center">5</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3">ARTICLE IV. PROJECT COMPANY&rsquo;S COVENANTS</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">6</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 4.1</TD>
    <TD>Mechanics Liens</TD>
    <TD STYLE="text-align: center">6</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 4.2</TD>
    <TD>Permits and Laws</TD>
    <TD STYLE="text-align: center">6</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 4.3</TD>
    <TD>Project Company&rsquo;s Improvements</TD>
    <TD STYLE="text-align: center">7</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 4.4</TD>
    <TD>Removal of Project Company&rsquo;s Improvements</TD>
    <TD STYLE="text-align: center">7</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 4.5</TD>
    <TD>Hazardous Wastes</TD>
    <TD STYLE="text-align: center">8</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 4.6</TD>
    <TD>Insurance</TD>
    <TD STYLE="text-align: center">8</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 4.7</TD>
    <TD>Gates and Fences</TD>
    <TD STYLE="text-align: center">8</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 4.8</TD>
    <TD>Site Rules</TD>
    <TD STYLE="text-align: center">9</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3">ARTICLE V. OWNER COVENANTS</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">9</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 5.1</TD>
    <TD>Title and Authority</TD>
    <TD STYLE="text-align: center">9</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 5.2</TD>
    <TD>Cooperation to Eliminate Lien Interference</TD>
    <TD STYLE="text-align: center">9</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 5.3</TD>
    <TD>Quiet Enjoyment</TD>
    <TD STYLE="text-align: center">9</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 5.4</TD>
    <TD>Exclusivity</TD>
    <TD STYLE="text-align: center">10</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 5.5</TD>
    <TD>Hazardous Materials</TD>
    <TD STYLE="text-align: center">10</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 5.6</TD>
    <TD>Mineral Rights and Lateral Support</TD>
    <TD STYLE="text-align: center">10</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 5.7</TD>
    <TD>Operation of the Solar Facilities</TD>
    <TD STYLE="text-align: center">11</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3">ARTICLE VI. INDEMNIFICATION</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">11</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 6.1</TD>
    <TD>Indemnification</TD>
    <TD STYLE="text-align: center">11</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: center">Table of Contents <BR>
(continued)</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center">Page</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3">ARTICLE VII. ASSIGNMENT; ENCUMBRANCE OF LEASE</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">11</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 12%">Section 7.1</TD>
    <TD STYLE="width: 71%">Right to Encumber</TD>
    <TD STYLE="text-align: center; width: 10%">11</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 7.2</TD>
    <TD>Assignment of Project Company&rsquo;s Interest</TD>
    <TD STYLE="text-align: center">13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 7.3</TD>
    <TD>Continuing Nature of Obligations</TD>
    <TD STYLE="text-align: center">13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3">ARTICLE VIII. CONDEMNATION</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 8.1</TD>
    <TD>Effect of Condemnation</TD>
    <TD STYLE="text-align: center">14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 8.2</TD>
    <TD>Condemnation Proceeds</TD>
    <TD STYLE="text-align: center">14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3">ARTICLE IX. DEFAULT/TERMINATION</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 9.1</TD>
    <TD>Events of Default</TD>
    <TD STYLE="text-align: center">14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 9.2</TD>
    <TD>Surrender</TD>
    <TD STYLE="text-align: center">14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 9.3</TD>
    <TD>Specific Performance</TD>
    <TD STYLE="text-align: center">15</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 9.4</TD>
    <TD>Damages</TD>
    <TD STYLE="text-align: center">15</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 9.5</TD>
    <TD>Waiver of Jury Trial</TD>
    <TD STYLE="text-align: center">15</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 9.6</TD>
    <TD>Delinquent Payments</TD>
    <TD STYLE="text-align: center">15</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3">ARTICLE X. MISCELLANEOUS</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">16</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: center; text-transform: uppercase">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 10.1</TD>
    <TD>Notice</TD>
    <TD STYLE="text-align: center">16</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 10.2</TD>
    <TD>Relationship of the Parties; No Third Party Beneficiaries</TD>
    <TD STYLE="text-align: center">16</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 10.3</TD>
    <TD>Entire Agreement</TD>
    <TD STYLE="text-align: center">16</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 10.4</TD>
    <TD>Governing Law</TD>
    <TD STYLE="text-align: center">16</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 10.5</TD>
    <TD>Cooperation</TD>
    <TD STYLE="text-align: center">17</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 10.6</TD>
    <TD>Waiver</TD>
    <TD STYLE="text-align: center">17</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 10.7</TD>
    <TD>Force Majeure</TD>
    <TD STYLE="text-align: center">17</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 10.8</TD>
    <TD>Confidentiality</TD>
    <TD STYLE="text-align: center">17</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 10.9</TD>
    <TD>Tax Credits</TD>
    <TD STYLE="text-align: center">18</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 10.10</TD>
    <TD>Severability</TD>
    <TD STYLE="text-align: center">18</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>Section 10.11</TD>
    <TD>Counterparts</TD>
    <TD STYLE="text-align: center">18</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>Section 10.12</TD>
    <TD>Memorandum of Lease</TD>
    <TD STYLE="text-align: center">18</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">CONFIDENTIAL</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm"><B>LAND LEASE AND SOLAR EASEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Land Lease and Solar Easement
(&ldquo;<B>Lease</B>&rdquo;) is made on ____________ (the &ldquo;<B>Effective Date</B>&rdquo;) between ___________ (&ldquo;<B>Owner</B>&rdquo;),
and _____________________, a Delaware limited liability company, and its successors and assigns (&ldquo;<B>Project Company</B>&rdquo;).
Owner and Project Company agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm"><B>ARTICLE I. Premises</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 1.1 General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)   <B>Lease
of Premises for Solar Energy Purposes</B>. Owner leases to Project Company, and Project Company leases from Owner, the real property legally
described in Exhibit A attached hereto (the &ldquo;<B>Premises</B>&rdquo;) for the sole purpose of monitoring, testing and evaluating
the Premises for solar energy generation and of constructing, installing, using, replacing, relocating and removing from time to time,
and maintaining and operating, solar energy generating equipment, overhead and/or underground electrical transmission and communications
lines, electric transformers, energy storage facilities, telecommunications equipment, power generation facilities and substations to
be operated in conjunction with solar energy generating equipment installations, roads, and related improvements, facilities and equipment
(collectively, &ldquo;<B>Solar Facilities</B>&rdquo;), including, without limitation, a line or lines of towers with wires and cables,
and/or underground wires and cables, for the transmission of electrical energy and/or for communication purposes, and all necessary and
proper foundations, footings, crossarms and other appliances and fixtures for use in connection with said towers, wires and cables on,
along and in the Premises, together with the appropriate rights of way. Project Company will have the right to relocate existing Solar
Facilities during the Term. Project Company will have the exclusive right to use the Premises for solar energy purposes. For purposes
of this Lease, &ldquo;solar energy purposes&rdquo; means converting solar energy into electrical energy, and collecting and transmitting
the electrical energy so converted, together with any and all activities related thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The general description of
the Premises described in <U>Exhibit A</U> attached to this Lease on the Effective Date may not be a precise legal description of the
Premises. The Owner and Project Company hereby acknowledge and confirm that, notwithstanding any insufficiency in the legal description
attached as <U>Exhibit A</U>, the parties desire to enter this Lease and to be fully and legally bound by this Lease. Therefore, Owner
and Project Company agree that (i) they are thoroughly familiar with the proposed location of the area comprising the Premises, and (ii)
upon Project Company obtaining a Survey (as defined below), the metes and bounds description of the Premises will be substituted for <U>Exhibit
A</U> pursuant to an amendment to this Lease and such metes and bounds description will become the final legal description of the Premises.
The parties acknowledge and agree that they are legally bound under this Lease pursuant to the depiction of the Premises attached as <U>Exhibit
A</U> and both parties will be obligated to perform hereunder based on such depiction of the Premises. The parties acknowledge and agree
that the Premises described in Exhibit A will include the land for the Access Easement, Transmission Easement and Solar Easement. Prior
to the construction of any Solar Facilities on the Premises, Project Company, at its expense, will obtain and deliver to Owner a survey
of the Property prepared by a Texas registered professional land surveyor (the &ldquo;<B>Survey</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)   <B>Access
Easement</B>. Owner hereby grants to Project Company, for the Term (as defined below), an easement (the &ldquo;<B>Access Easement</B>&rdquo;)
over, across and on the Premises <B><U>(but not adjacent property owned by Owner)</U></B> for ingress to and egress from the Solar Facilities
by means of any existing roads and lanes <B><U>on the Premises</U></B>, or by such route or routes as Project Company may construct from
time to time <B><U>on the Premises</U></B>. The Access Easement will include the right to improve existing roads and lanes <B><U>on the
Premises</U></B>, or to build new roads <B><U>on the Premises</U></B>, and will run with and bind the Premises, and will inure to the
benefit of and be binding upon Owner and Project Company, as applicable, and their respective heirs, personal representatives, transferees,
successors and assigns, and all persons claiming under them. The location and dimensions of such access roads will be made by Project
Company in its sole discretion, except that: Project Company agrees to use commercially reasonable efforts to install such access roads
perpendicular to county roads.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)   <B>Transmission
Easement</B>. Owner hereby grants Project Company one or more easements for Transmission Facilities (defined below) (&ldquo;<B>Transmission
Easements</B>&rdquo;) on, over and across the Premises, on such portions of the Premises as will be notified to Owner by Project Company.
Any such Transmission Easement will contain all of the rights and privileges for Transmission Facilities as are set forth in this Lease.
Any Transmission Easement will also include the right of ingress to and egress from the Solar Facilities (whether located on the Premises,
on adjacent property or elsewhere) over and along the Premises by means of roads and lanes thereon if existing, or otherwise by such route
or routes as Project Company or Owner may construct from time to time. The term of the Transmission Easements will be the same as the
term of this Lease unless terminated by Project Company by written notice to Owner as set forth herein, and will not expire or be terminable
by Owner under any circumstances. Project Company will have the right to assign or convey all or any portion of any Transmission Easement
to any person on an exclusive or nonexclusive basis. Any Transmission Easement will run with the Premises and inure to the benefit of
and be binding upon Owner and Project Company and their respective transferees, successors, and assigns, and all persons claiming under
them. Project Company will have the right to assign its rights hereunder relating to the construction, operation, repair and/or maintenance
of the electric transmission or distribution systems to a third party that owns, operates and/or maintains electric transmission or distribution
systems. As used in this Lease, the term &ldquo;<B>Transmission Facilities</B>&rdquo; means electrical transmission and/or distribution
and communications lines and related cables, wires, conduit, circuit breakers and transformers, and any and all necessary and proper facilities,
fixtures, and additional equipment any way related to or associated with any of the foregoing for the transmission and delivery of electrical
energy. Transmission Facilities will be deemed to be Solar Facilities. Project Company will bury all collector lines that are 138kv or
less, except such lines that Project Company, in good faith, determines that it is unable to bury for technical reasons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)   <B>Owner&rsquo;s
Retained Rights</B>. Owner will retain the right to use the portion of the Premises not occupied by Solar Facilities to the extent its
use is not inconsistent with Project Company&rsquo;s rights under this Lease for uses solely intended to qualify Premises for Texas Agricultural
Tax Exemption, not before five years prior to lease expiration, starting five years prior to the end of the Operating Term or the Renewal
Term, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)   <B>Location
of Solar Facilities</B>. Project Company will make good faith efforts to consult with Owner on its site development plan prior to construction
of solar facilities, roads and electric power lines, provided that Project Company will make all such final siting decisions in Project
Company&rsquo;s sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)    <B>Part
of a Larger Project</B>. Owner acknowledges that Project Company may elect to develop commercial solar energy facilities with which the
Premises will share structural and transmission components, ingress and egress, utility access, and other support, all of which are specifically
designed to be interrelated and integrated in operation and use for the full life of such facilities. Project Company may designate, from
time to time, the solar energy facilities with which the Premises is included in a defined solar energy project (the &ldquo;<B>Project</B>&rdquo;).
The properties designated by Project Company as included in the Project with the Premises will be referred to as the &ldquo;<B>Project
Properties</B>.&rdquo; Nothing contained in this Lease will be construed as requiring Project Company to construct or operate the Project
or continue the operation of the Project or any portion thereof, if it is so constructed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 1.2 Solar Easement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)   <B>Open
Access to Sun</B>. Owner hereby grants and conveys to Project Company an exclusive easement on, over and across the Premises for the following:
the open and unobstructed access to the sun to any Solar Facilities on any of the Project Properties and to ensure adequate exposure of
the Solar Facilities to the sun. In addition, Owner hereby grants and conveys to Project Company an exclusive easement prohibiting any
obstruction to the open and unobstructed access to the sun (together with the preceding sentence, the &ldquo;<B>Solar Easement</B>&rdquo;)
throughout the entire Premises to and for the benefit of the area existing horizontally three hundred and sixty degrees (360&deg;) from
any point where any Solar Facility is or may be located at any time from time to time (each such point referred to as a &ldquo;<B>Site</B>&rdquo;)
and for a distance from each Site to the boundaries of the Premises, together vertically through all space located above the surface of
the Premises, that is, one hundred eighty degrees (180&deg;) or such greater number or numbers of degrees as may be necessary to extend
from each point on and along a line drawn along the surface from each point along the exterior boundary of the Premises through each Site
to each point and on and along such line to the opposite exterior boundary of the Premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)   <B>Owner
Improvements</B>. Owner may not place or plant any trees, buildings or improvements (an &ldquo;<B>Improvement</B>&rdquo;) on the Premises
after the date of this Lease which may, in Project Company&rsquo;s sole judgment, impede or materially interfere with the open and unobstructed
access to the sun to any Site or Facility (located either on the Premises or on the Project Properties), unless Owner has received written
approval from Project Company for any such trees, structure or improvement. Subject to the foregoing, Owner may construct an Improvement
of the Premises if such Improvement meets all of the following requirements:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify">Such Improvement poses no interference with any part of the
Solar Facilities located on the Premises or elsewhere in the Project; and</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(b)</TD><TD STYLE="text-align: justify">Such Improvement is located at least <B>five hundred (500)
</B>feet from the location of any Site (whether such Site is located on the Premises or elsewhere in the Project).</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">(an Improvement that complies
with all of the foregoing restrictions will be referred to as a &ldquo;<B>Permitted Improvement</B>&rdquo;). Owner may construct such
Permitted Improvements without the prior consent of Project Company. However, should Owner construct an Improvement that is determined
by Project Company to violate or not be in compliance with any of the restrictions of this section, Project Company may provide notice
to Owner that said Improvement must to be removed within thirty (30) days of Owner&rsquo;s receipt of Project Company&rsquo;s notice.
Should Owner fail to remove the non-complying Improvement within such thirty (30) day period, Project Company may cause the same to be
removed and may off-set the cost of the removal against any lease payments due hereunder to Owner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)   <B>No
Interference</B>. Owner will not materially interfere with, and will not allow any other party to materially interfere with, the free,
unobstructed and open and unobstructed access to the sun, over and across the Premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm"><B>ARTICLE II. Lease Term</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 2.1 Development
Period; Operating Term; Renewal Terms</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)   <B>Development
Period</B>. Project Company&rsquo;s rights under this Lease will be in effect throughout the Development Period. The &ldquo;Development
Period&rdquo; commences on the Effective Date of this Lease and expires on June 18, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)   <B>Operating
Term</B>. This Lease will automatically be extended for the Operating Term upon the earlier of: (i) the date when at least one solar generating
facility installed on the Premises is a Commercially Operational Solar Facility, as defined in <U>Exhibit D</U> (the &ldquo;<B>Operation
Date</B>&rdquo;); or (ii) the date when Owner receives written notice from Project Company of Project Company&rsquo;s election to extend
the Term for the Operating Term (&ldquo;<B>Operating Term Notice Date</B>&rdquo;), provided that either the Operation Date or the Operating
Term Notice Date occurs prior to the expiration of the Development Period. The Operating Term of this Lease (&ldquo;<B>Operating Term</B>&rdquo;)
will be for a period of twenty-five (25) years from the earlier of either the Operation Date or the Operating Term Notice Date, as applicable,
unless terminated earlier in accordance with the terms of this Lease. The Development Period ends at the time the Operating Term begins.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)   <B>Renewal
Term</B>. Project Company will have the right, at its option, to extend the Operating Term for one (1) additional period of ten (10) years
(the &ldquo;<B>Renewal Term</B>&rdquo;). To exercise its option to renew the Term for the Renewal Term, Project Company must deliver a
written extension notice to Owner prior to the expiration of the Operating Term. Project Company must timely deliver such written notice
to exercise effectively its options to extend the Term for the Renewal Term. The terms of the Lease during the Renewal Term will be the
same terms and conditions applicable during the Operating Term, except as specifically provided herein. Project Company will have no right
to extend the Term beyond the Renewal Term. If Project Company fails timely to deliver the extension notice, this Lease will terminate
at the end of the Operating Term, and Project Company will have no further options or rights to renew or extend the Term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)   <B>Entire
Term</B>. The &ldquo;<B>Term</B>&rdquo; of this Lease will be the Development Period together with, if Project Company exercises the applicable
options, the Operating Term and the Renewal Term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 2.2 Termination
of Lease</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The occurrence of any of the
following events will terminate this Lease:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)   The
expiration of this Lease as set forth in Section 2.1; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)   The
written agreement of the parties to terminate this Lease; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)   A
Breach (as defined below) of this Lease by either party and the election of the non-breaching party to terminate the Lease pursuant to
Article IX; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)   A
condemnation of all or a portion of the Premises and the election of the Project Company to terminate the Lease pursuant to Article VIII;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)   Pursuant
to applicable law, except that if any such applicable law is amended or terminated after the date hereof, and the effect of such amendment
or termination is to extend the permissible development period to or eliminate the requirement that commercial operation or the development
of the potential to produce solar energy begin within a specified time period, then this Lease will automatically be amended to incorporate
such amendment or termination, as if such amendment or termination was fully incorporated herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 2.3 Survival of
Covenants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner acknowledges that the
covenants, conditions, rights and restrictions in favor of Project Company pursuant to this Lease including, but not limited to, the Access
Easement and Solar Easement, and Project Company&rsquo;s use of and benefit from those covenants, conditions, rights and restrictions,
may constitute a portion of the Project and that the covenants, conditions, rights and restrictions in favor of Project Company pursuant
to this Lease will not be deemed nominal, invalid, inoperative or otherwise be disregarded while any portion of the Project remains operational.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm"><B>ARTICLE III. Payments and
Taxes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 3.1 Payments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project Company will pay Owner
according to the Payment Terms set forth in <U>Exhibit D</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 3.2 Taxes, Assessments
and Utilities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)   Owner
Taxes and Assessments. Owner will pay, when due, all real property taxes and assessments levied against the Premises and all personal
property taxes and assessments levied against any property and improvements owned by Owner and located on the Premises. If Owner will
fail to pay any such taxes or assessments when due, Project Company may, at its option, pay those taxes and assessments and any accrued
interest and penalties, and either seek reimbursement from Owner or deduct the amount of its payment from any rent or other amount otherwise
due to Owner from Project Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)   Project
Company Taxes and Assessments. Project Company will pay all personal property taxes and assessments levied against the Solar Facilities
when due, including any such taxes based on electricity production. If the real property taxes assessed to such Premises increase solely
as a result of the installation of the Solar Facilities on the Premises, including any reclassification of the Premises, Project Company
will pay or reimburse Owner an amount equal to the increase to the extent caused by such installation no later than ten (10) days prior
to the date each year on which the applicable real estate taxes are due to be paid, provided that not less than thirty (30) days prior
to such due date Owner provides Project Company with copies of the applicable current and past statements of real estate taxes payable
for the Premises and any related information demonstrating that the installation of the Solar Facilities resulted in the increase in real
estate taxes for which Owner is requiring payment or reimbursement from Project Company. Owner and Project Company agree jointly to use
commercially reasonable efforts to cause the Premises not to be reclassified from its present agricultural or open space exemption as
a result of this Lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)   Tax
Contest. Either party may contest the validity or amount of any levied taxes, assessments or other charges for which each is responsible
under this Lease as long as such contest is pursued in good faith and with due diligence and the party contesting the tax, assessment
or charge has paid the obligation in question or established adequate reserves to pay the obligation in the event of an adverse determination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)   Project
Company Utilities. Project Company will pay for all water, electric, telecommunications and any other utility services used by the Solar
Facilities or Project Company on the Premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 3.3 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm"><B>ARTICLE IV. Project Company&rsquo;s
Covenants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project Company covenants,
represents and warrants to Owner as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 4.1 Mechanics
Liens</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project Company will keep the
Premises free and clear of all liens and claims of liens for labor, materials, services, supplies and equipment performed for or furnished
to Project Company or, at the request of Project Company, any Solar Facility on the Premises in connection with Project Company&rsquo;s
use of the Premises. Project Company may contest any such lien, but will post a bond or utilize other available means to remove any lien
that is created during the contested proceeding. Project Company agrees to otherwise remove any lien or encumbrance for which it is responsible
pursuant to this paragraph within sixty (60) days of notice to Project Company of the creation of any such lien or encumbrance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 4.2 Permits and
Laws</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project Company and its designees
will at all times comply with all federal, state and local laws, statutes, ordinances, rules, regulations, judgments and other valid orders
of any governmental authority applicable with respect to Project Company&rsquo;s activities pursuant to this Lease and will obtain all
permits, licenses and orders required to conduct any and all such activities (collectively, &ldquo;<B>Legal Requirements</B>&rdquo;).
Project Company will have the right, in its sole discretion, to contest by appropriate legal proceedings brought in the name of Project
Company or in the names of both Project Company and Owner where appropriate or required, the validity or applicability to the Premises
or Solar Facilities of any Legal Requirement now or hereafter made or issued by any federal, state, county, local or other governmental
agency or entity. Owner will cooperate in every reasonable way in such contest, provided Project Company reimburses Owner for its reasonable
and actual out-of-pocket expense directly incurred in connection with such cooperation, to the extent Project Company has approved such
expense in advance. Any such contest or proceeding, including any maintained in the name of Owner, will be controlled and directed by
Project Company, but Project Company will protect Owner from Project Company&rsquo;s failure to observe or comply during the contest with
the contested Legal Requirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 4.3 Project Company&rsquo;s
Improvements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All Solar Facilities constructed,
installed or placed on the Premises by Project Company pursuant to this Lease will be and remain the sole property of Project Company
and Owner will have no ownership or other interest in any Solar Facilities on the Premises. The Solar Facilities are and will remain personal
property of the Project Company, notwithstanding any present or future common ownership of the Solar Facilities and the Premises. Throughout
the Term, Project Company will, at its sole cost and expense, maintain Project Company&rsquo;s Solar Facilities in good condition and
repair, ordinary wear and tear excepted. After the construction of the Solar Facilities, Project Company will remove any construction
debris and will restore the portions of the Premises not occupied by the Solar Facilities to substantially the same condition that such
portions of the Premises were in prior to the construction of the Solar Facilities. All Solar Facilities constructed, installed or placed
on the Premises by Project Company pursuant to this Lease may be moved, removed, replaced, repaired or refurbished by Project Company
at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 4.4 Removal of
Project Company&rsquo;s Improvements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)   <B>Project
Company Will Remove Solar Facilities</B>. At the end of the Term, including upon any early termination of the Lease, Project Company will
remove all its Solar Facilities, including any foundations, to a depth of three (3) feet below grade, within twelve (12) months from the
date the Term expires or the Lease terminates. Owner grants Project Company an easement for such removal, which easement will survive
for twelve (12) months after the expiration or termination of this Lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)   <B>Owner&rsquo;s
Right to Remove Solar Facilities Upon Failure by Project Company</B>. If Project Company fails to remove any of the Solar Facilities within
the required time period, such Solar Facilities will be considered abandoned by Project Company and Owner may remove these Solar Facilities
from the Premises and dispose of them in its sole discretion without notice or liability to Project Company. In such event, if Owner removes
such Solar Facilities at Owner&rsquo;s expense, Project Company will reimburse Owner for all reasonable costs of removing those Solar
Facilities as required by the Lease, less any salvage value received by Owner, within thirty (30) days after receipt of an invoice from
Owner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)   <B>Security
for Removal</B>. On or before the twentieth (20<SUP>th</SUP>) anniversary of the Operations Date, Project Company shall provide security
to cover the estimated removal and restoration costs associated with removing the Improvements, as well as the cost of restoring the surface
of the Property in accordance with the Section 4.4 (a) above. The security shall be, at Project Company's option, either a surety bond
from an issuer reasonably acceptable to Owner, a corporate guarantee (from a financially responsible entity whose credit rating is investment
grade), a letter of credit issued by a financial institution acceptable to Owner, a cash deposit, or other security reasonably acceptable
to Owner (the selected security being herein referred to as the &quot;Removal Bond&quot;). The amount of the Removal Bond shall be the
estimated actual cost of removing the foregoing facilities and improvements and restoring the surface. The amount of the Removal Bond
shall be updated every five (5) years after the initial estimate based on a new estimate by a construction company selected by Tenant
and reasonably acceptable to Owner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 4.5 Hazardous
Wastes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project Company will not use,
dispose of or release on the Premises or cause or permit to exist or be used, stored, disposed of or released on the Premises as a result
of Project Company&rsquo;s operations, any substance which is defined as a &ldquo;hazardous material&rdquo;, &ldquo;toxic substance&rdquo;
or &ldquo;solid waste&rdquo; in any Legal Requirement except in such quantities as may be required in its normal business operations and
only if such use is in full compliance with all Legal Requirements. It is hereby expressly made clear however that Project Company shall
bear no responsibility or liability whatsoever for any pre-existing hazardous materials on the Premises, whether or not discovered prior
to or after the date of execution of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 4.6 Insurance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">From the Effective Date and
at all times during the Term, Project Company shall comply with and maintain in effect: (i) commercial General Liability Insurance, including
bodily injury and property damage coverage with minimum limits of $1 Million Dollars per occurrence and $2 Million Dollars aggregate,
and (ii) Umbrella Liability Insurance with minimum limits of $1 Million Dollars per occurrence and $2 Million Dollars aggregate. Project
Company may meet these minimum insurance requirements with any combination of primary, excess, or self-insurance. Project Company shall
name Owner as additional insured on such insurance policies and provide Owner with a certificate of such insurance or, if applicable,
a letter of self-insurance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 4.7 Gates and
Fences</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If necessary and as mutually
agreed by the parties, Project Company will make such fence cuts, braces, and repairs that will be permanent and remain functional for
the remaining life of the fence of which they are part (any such cuts will be reinforced with bracer posts on each side of the cut, and
the opening will be repaired to the same quality as the existing fence); alternatively, Owner may require Project Company to install a
cattle guard in lieu of any external gate used by Project Company. During construction or operation of the Solar Facilities, Project Company
will close any gates used by its personnel except when open to permit the passage of vehicular traffic, so that Owner&rsquo;s livestock
do not stray or escape through such gates. If Owner maintains locks on exterior gates, Owner will provide Project Company with keys or
with the combinations to such locks. Upon the termination of this Lease, any cattle guards or gates installed by Project Company will
become the property of Owner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 4.8 Site Rules</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">While on the Premises, Project
Company will use commercially reasonable efforts to comply with the site rules attached hereto as <U>Exhibit E</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm"><B>ARTICLE V. Owner Covenants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner covenants, represents
and warrants to Project Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 5.1 Title and
Authority</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except to the extent otherwise
stated in this Lease, Owner is the sole owner of the Premises in fee simple and each person or entity signing the Lease on behalf of Owner
has the full and unrestricted authority to execute and deliver this Lease and to grant the leaseholds, easements and other rights granted
to Project Company herein. There are no encumbrances or liens (including farm or other tenancies) against the Premises except those which
are listed on <U>Exhibit C</U>, attached hereto and incorporated by reference (the &ldquo;<B>Encumbrances</B>&rdquo;). Owner agrees to
deliver any documents necessary to correct any title defects. All persons having any ownership interest in the Premises (including spouses)
are signing this Lease as Owner. When signed by Owner, this Lease constitutes a valid and binding agreement enforceable against Owner
in accordance with its terms. Owner expressly waives any and all existing and future statutory, common law and other liens on the Solar
Facilities that Owner may have under applicable law. To the extent that any such lien cannot be waived under applicable law, Owner hereby
subordinates such lien to all existing and future liens and security interests in favor of Project Company&rsquo;s creditors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 5.2 Cooperation
to Eliminate Lien Interference</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner will cooperate with Project
Company to obtain non-disturbance and subordination agreements, or such other necessary agreements, from any person or entity with a lien,
encumbrance, mortgage, deed of trust, lease or other exception to Owner&rsquo;s fee title to the Premises to the extent necessary to eliminate
any actual or potential interference by any such lienholder with any rights granted to Project Company under this Lease (including, but
not limited to any Wetlands Reserve Program (&ldquo;<B>WRP</B>&rdquo;) or Conservation Reserve Program (&ldquo;<B>CRP</B>&rdquo;)). Owner
will also cooperate with Project Company to obtain and maintain any permits or approvals needed for the Solar Facilities. Owner will also
provide Project Company with such further assurances and will execute any estoppel certificates, consents to assignments, non-disturbance
and subordination agreements, or additional documents that may be reasonably necessary for recording purposes or requested by Project
Company or any of its lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 5.3 Quiet Enjoyment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As long as Project Company
is not in Breach of this Lease, Project Company will have the quiet use and enjoyment of the Premises in accordance with the terms of
this Lease without any interference of any kind by Owner or any person claiming through Owner. Owner and its activities on the Premises
and any grant of rights Owner makes to any other person will be only as permitted under this Lease and will not interfere with any of
Project Company&rsquo;s rights or activities pursuant to this Lease, and Owner will not interfere or allow interference with any of Project
Company&rsquo;s rights or activities pursuant to this Lease, and Owner will not materially interfere or allow material interference with
the free, unobstructed and open access to the sun over and across the Premises or otherwise engage in activities or allow any activities
which might impede or decrease the output or efficiency of the Solar Facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 5.4 Exclusivity</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project Company will have the
sole and exclusive rights to install and operate Solar Facilities on the Premises, to use the Premises for solar energy and energy storage
purposes and to convert all of the solar resources of the Premises. In no event during the Term will Owner construct, build or locate
or allow others to construct, build or locate any solar energy facility, energy storage facility or similar project on the Premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 5.5 Hazardous
Materials</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner will not use, store,
dispose of or release on the Premises or cause or permit to exist or be used, stored, disposed of or released on the Premises as a result
of Owner&rsquo;s operations, any substance which is defined as a &ldquo;hazardous substance&rdquo;, &ldquo;hazardous material&rdquo;,
or &ldquo;solid waste&rdquo; in any Legal Requirement, except in such quantities as may be required in the operations Owner is permitted
to conduct on the Premises and only if such use is in full compliance with all Legal Requirements. Owner represents and warrants to Project
Company that, as of the date hereof, there is no &ldquo;hazardous substance&rdquo;, &ldquo;hazardous material&rdquo;, or &ldquo;solid
waste&rdquo; on, in or under the Premises in violation of any Legal Requirements. Owner represents and warrants to Project Company that,
as of the date hereof, there is no &ldquo;hazardous substance&rdquo;, &ldquo;hazardous material&rdquo;, or &ldquo;solid waste&rdquo; on,
in or under the Premises in violation of any Legal Requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 5.6 Mineral Rights
and Lateral Support</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)   &ldquo;Subsurface
Interests&rdquo; include, but are not limited to oil, gas, coal, cement materials, sodium sulfate, sand and gravel, scoria, road material,
building stone, chemical substances, metallic ores, uranium ores, or colloidal or other clays.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)   If
Owner does not own 100% of the Subsurface Interests in and under the Premises, or leases the Subsurface Interests relating to Premises,
then Owner will disclose such to Project Company on <U>Exhibit B</U>. This Lease will not be interpreted to prevent Owner from leasing
and developing Subsurface Interests on Premises, provided that any future leasing, development or transfer of the Subsurface Interests
will be subject to this Lease. Owner will notify Project Company as soon as Owner knows of Subsurface Interest exploration or production
plans. Owner will cooperate with Project Company in the exercise of Owner&rsquo;s Subsurface Interest rights to minimize interference,
at no cost to Owner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)   If
Owner does not own 100% of the Subsurface Interests in and under the Premises, or leases the Subsurface Interests relating to Premises,
Owner agrees to cooperate with Project Company&rsquo;s efforts to obtain a cooperation or accommodation agreement relating to the exploring,
drilling, or mining for or producing of Subsurface Interests on Premises from the owner or lessee of such Subsurface Interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)   If
Owner owns 100% of the Subsurface Interests in and under the Premises, and does not lease the Subsurface Interests relating to Premises,
Project Company will have and exercise the right of subjacent and lateral support for the Solar Facilities on the Premises to whatever
extent is necessary for the safe construction, operation and maintenance on the Solar Facilities. Owner expressly covenants that Owner
will not excavate so near the sides of or underneath the Solar Facilities as to undermine or otherwise adversely affect their stability.
Neither Owner nor its successors or assigns will be entitled to use, or authorize the use of, any portion of the surface of the Premises
located within three hundred (300) feet of any existing or proposed Solar Facility or within one hundred (100) feet of an existing or
proposed transmission line (or any other portion of the Premises that would unreasonably interfere with the use by Project Company of
the Premises) for the purpose of exploring, drilling, or mining for or producing Subsurface Interests, without the prior written consent
of Project Company, which consent will not be unreasonably withheld, delayed or denied. Owner agrees that the new agreement affecting
Subsurface Interests will expressly provide that such holder will not conduct any activities within the areas described in this Section
5.6 and will not otherwise interfere with Project Company&rsquo;s rights under the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 5.7 Operation
of the Solar Facilities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner acknowledges and understands
that the Solar Facilities to be located on the Premises, or in connection with the Project on adjacent property may impact the view on
the Premises or on adjacent Premises or otherwise cause visual effects. Owner covenants and agrees that the Owner will not assert that
the Solar Facilities constitute a nuisance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm"><B>ARTICLE VI. Indemnification</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 6.1 Indemnification</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each party (the &ldquo;Indemnifying
Party&rdquo;) agrees to defend, indemnify and hold harmless the other party and the other party&rsquo;s officers, directors, employees,
representatives and agents (collectively the &ldquo;Indemnified Party&rdquo;) against any and all losses, damages, claims, expenses and
liabilities for physical damage to property and for physical injury to any person, including, without limitation, reasonable attorneys&rsquo;
fees, to the extent resulting from or arising out of (i) any operations or activities of the Indemnifying Party on the Premises or (ii)
any negligent or intentional act or omission on the part of the Indemnifying Party with respect to this Lease or the Premises. This indemnification
will not apply to losses, damages, claims, expenses and liabilities to the extent caused by any negligent or intentional act or omission
on the part of the Indemnified Party. This indemnification will survive the termination of this Lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm"><B>ARTICLE VII. Assignment; Encumbrance
of Lease</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 7.1 Right to Encumber</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)   <B>Project
Company Right to Mortgage Leasehold Interest</B>. Project Company may at any time mortgage all or any part of its interest in the Lease
and rights under this Lease and/or enter into a collateral assignment of all or any part of its interest in the Lease or rights under
this Lease to any entity (&ldquo;Lender&rdquo;) without the consent of Owner. Any Lender will have no obligations under this Lease until
such time as it exercises its rights to acquire Project Company&rsquo;s interests subject to the lien of Lender&rsquo;s mortgage by foreclosure
or otherwise assumes the obligations of Project Company directly. Project Company will undertake reasonable efforts to notify Owner of
the identity and notice address for any Lender, but failure to do so will not be considered a default hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)   <B>Amendment
Requires Lender Consent</B>. Owner and Project Company agree that, once all or any part of Project Company&rsquo;s interests in the Lease
are mortgaged or assigned to a Lender, they will not modify or terminate this Lease without the prior written consent of the Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)   <B>Lender
Right to Cure Project Company Default</B>. Owner agrees that any Lender will have the right to make any payment and to do any other act
or thing required to be performed by Project Company under this Lease, and any such payment, act or thing performed by Lender will be
effective to prevent a Breach by Project Company and any forfeiture of any of Project Company&rsquo;s rights under this Lease as if done
by Project Company itself.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)   <B>Notice
from Owner to Lender in Case of Project Company Default</B>. During the time all or any part of Project Company&rsquo;s interests in the
Lease are mortgaged or assigned to any Lender, if Project Company defaults under any of its obligations and Owner is required to give
Project Company notice of the default, Owner will also be required to give Lender notice of the default. If Owner becomes entitled to
terminate this Lease due to an uncured default by Project Company, Owner will not terminate this Lease unless it has first given written
notice of the uncured default and of its intent to terminate this Lease to the Lender and has given the Lender at least thirty (30) days
from such notice to cure the default to prevent termination of this Lease. If within such thirty (30) day period the Lender notifies the
Owner that it must foreclose on Project Company&rsquo;s interest or otherwise take possession of Project Company&rsquo;s interest under
this Lease in order to cure the default, Owner will not terminate this Lease and will permit the Lender a reasonable period of time necessary
for the Lender, with the exercise of due diligence, to foreclose or acquire Project Company&rsquo;s interest under this Lease and to perform
or cause to be performed all of the covenants and agreements to be performed and observed by Project Company. The time within which Lender
must foreclose or acquire Project Company&rsquo;s interest will be extended to the extent Lender is prohibited by an order or injunction
issued by a court or the operation of any bankruptcy or insolvency law from commencing or prosecuting the necessary foreclosure or acquisition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)   <B>Recognition
of Lender as Successor</B>. The acquisition of all or any part of Project Company&rsquo;s interests in the Lease by any Lender through
foreclosure or other judicial or non-judicial proceedings in the nature of foreclosure, or by any conveyance in lieu of foreclosure, will
not require the consent of Owner nor constitute a Breach or default of this Lease by Project Company, and upon the completion of the acquisition
or conveyance, Owner will acknowledge and recognize Lender as Project Company&rsquo;s proper successor under this Lease upon Lender&rsquo;s
cure of any existing Project Company defaults and assumption of the obligations of Project Company under this Lease prospectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)   <B>New
Lease</B>. In the event this Lease is rejected by a trustee or a debtor-in possession in any bankruptcy or insolvency proceeding, Owner
agrees, upon request by any Lender within sixty (60) days after the rejection or termination, to execute and deliver to Project Company
or Lender a new lease for the Premises which (i) will be effective as of the date of the rejection or termination of this Lease, (ii)
will be for a term equal to the remainder of the Term before giving effect to such rejection or termination, and (iii) will contain the
same terms, covenants, agreements, provisions, conditions and limitations as are contained in this Lease (except for any obligations or
requirements which have been fulfilled by Project Company or Lender prior to rejection or termination). Prior to the execution and delivery
of any such new lease Project Company, or Lender, will (i) pay Owner any amounts which are due Owner from Project Company, (ii) pay Owner
any and all amounts which would have been due under this Lease but for the rejection or termination from the date of the rejection or
termination to the date of the new lease and (iii) agree in writing to perform or cause to be performed all of the other covenants and
agreements to be performed by Project Company under this Lease to the extent Project Company failed to perform them prior to the execution
and delivery of the new lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 7.2 Assignment
of Project Company&rsquo;s Interest</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Project Company and any successor
or assign of Project Company will at all times have the right, without need for Owner&rsquo;s consent, to do any of the following, conditionally
or unconditionally, with respect this Lease or to all or any portion of the Premises: grant co-leases, separate leases, subleases, easements,
licenses or similar rights (however denominated) to one or more third parties; or sell, convey, lease, assign, mortgage, encumber or transfer
to one or more third parties or to any affiliate of Project Company&rsquo;s this Lease, or any right or interest in this Lease, or any
or all right or interest of Project Company in the Premises or in any or all of the Solar Facilities that Project Company or any other
party may now or hereafter install on the Premises provided that (i) any such assignment, transfer or conveyance will not be for a period
beyond the Term; (ii) the assignee or transferee will be subject to all of the obligations, covenants and conditions applicable to the
Project Company; and (iii) Project Company will not be relieved from liability for any of its obligations under this Lease by virtue of
the assignment or conveyance unless Project Company assigns or conveys all of its interests under the Lease to the assignee or transferee,
in which event Project Company will have no continuing liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 7.3 Continuing
Nature of Obligations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)   <B>Benefits
are &ldquo;In Gross&rdquo;</B>. The Solar Easement and all other easements and related rights granted by Owner in this Lease to Project
Company are easements &ldquo;in gross&rdquo;, which means, among other things, that they are interests personal to and for the benefit
of Project Company, and its successors and assigns, as owner of the rights created by the Solar Easement and such other easements. The
Access Easement, the Solar Easement and other rights granted Project Company by Owner in this Lease are independent of any lands or estates
or interest in lands, there is no other real property benefiting from the Solar Easement and, as between the Premises and other tracts
of property on which Project Company may locate Solar Facilities, no tract is considered dominant or servient as to the other.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)   Burdens
Run With and Against the Land. The burdens of the Solar Easement, the Access Easement and all other rights granted to Project Company
in this Lease will run with and against the Premises and will be a charge and burden on the Premises and will be binding upon and against
Owner and its successors, assigns, permittees, licensees, lessees, employees and agents. The Lease, the Access Easement and the Solar
Easement will inure to the benefit of Project Company and its successors, assigns, permittees, licensees and Project lessees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm"><B>ARTICLE VIII. Condemnation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 8.1 Effect of
Condemnation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If eminent domain proceedings
are commenced against all or any portion of the Premises, and the taking and proposed use of such property would prevent or adversely
affect Project Company&rsquo;s construction, installation or operation of Solar Facilities on the Premises, at Project Company&rsquo;s
option, the parties will either amend this Lease to reflect any necessary relocation of the Solar Facilities which will preserve the value
and benefit of the Lease to Project Company, together with any corresponding payments, or this Lease will terminate in which event neither
party will have any further obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 8.2 Condemnation
Proceeds</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All payments made by a condemnor
on account of a taking by eminent domain will be the property of the Owner, except that Project Company will be entitled to any award
or amount paid for the reasonable costs of removing or relocating any of the Solar Facilities or the loss of any such Solar Facilities
or the use of the Premises pursuant to the Lease. Project Company will have the right to participate in any condemnation proceedings to
this extent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ARTICLE IX. Default/Termination</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 9.1 Events of
Default</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each of the following will
constitute a &ldquo;<B>Breach</B>&rdquo; that will permit the non-defaulting party to terminate this Lease or pursue other remedies available
at law or equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)   any
failure by Project Company to pay any amounts due under Article III if the failure to pay continues for thirty (30) days after written
notice from Owner;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii)   any
other breach of this Lease by either party which continues for thirty (30) days after written notice of default from the non-defaulting
party or, if the cure will take longer than thirty (30) days, the length of time necessary to effect cure as long as the defaulting party
is making diligent efforts to cure during that time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 9.2 Surrender</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon the termination or expiration
of this Lease, Project Company will peaceably surrender the Premises to Owner and remove all Solar Facilities from the Premises at Project
Company&rsquo;s expense within twelve months from the date the Lease expires or is terminated. For the period between the date of termination
or expiration of this Lease and the date on which Project Company completes removal of the Solar Facilities as required under Section
4.4 of this Lease, Project Company will continue to pay Solar Rent (as defined in <U>Exhibit D</U>) for each Commercially Operational
Solar Facility installed on the Premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 9.3 Specific Performance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner acknowledges and agrees
that should Owner breach any of its obligations hereunder or otherwise fail to permit Project Company to exercise any of the rights and
privileges granted herein, damages would be difficult to calculate and money damages would not be sufficient to compensate Project Company
for such breach, and therefore, Owner agrees that Project Company will have the right to seek specific enforcement of this Lease. In that
event, Owner agrees that Project Company has no adequate remedy at law, and that an order of specific performance may be granted in favor
of Project Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 9.4 Damages</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOTWITHSTANDING ANYTHING
TO THE CONTRARY IN THIS LEASE, NEITHER PARTY WILL BE ENTITLED TO, AND EACH OF OWNER AND PROJECT COMPANY HEREBY WAIVES ANY AND ALL RIGHTS
TO RECOVER, CONSEQUENTIAL, INCIDENTAL, AND PUNITIVE OR EXEMPLARY DAMAGES, HOWEVER ARISING, WHETHER IN CONTRACT, IN TORT, OR OTHERWISE,
UNDER OR WITH RESPECT TO ANY ACTION TAKEN IN CONNECTION WITH THIS LEASE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 9.5 Waiver of
Jury Trial</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>EACH OF THE PARTIES KNOWINGLY,
VOLUNTARILY AND INTENTIONALLY WAIVES THE RIGHT TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON THIS LEASE, OR ARISING OUT OF,
UNDER OR IN CONNECTION WITH THIS LEASE AND ANY AGREEMENT CONTEMPLATED TO BE EXECUTED IN CONJUNCTION HEREWITH, OR ANY COURSE OF CONDUCT,
COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO IN CONNECTION WITH OR ARISING OUT OF THIS LEASE
OR SUCH AGREEMENTS. EACH OF THE PARTIES TO THIS LEASE WAIVES ANY RIGHT TO CONSOLIDATE ANY ACTION IN WHICH A JURY TRIAL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>HAS BEEN WAIVED WITH ANY
OTHER ACTION IN WHICH A JURY TRIAL CANNOT OR HAS NOT BEEN WAIVED. THIS PROVISION IS A MATERIAL INDUCEMENT TO EACH OF THE PARTIES FOR ENTERING
INTO THIS LEASE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 9.6 Delinquent
Payments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If Project Company fails to
pay Owner any sum to be paid by Project Company hereunder within sixty (60) days after such payment is due, interest on the unpaid amount
will accrue at a rate of five percent (5%) per annum or the maximum rate allowed by law, whichever is less, from thirty (30) days after
the date such payment was due until the date such payment is made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<!-- Field: Page; Sequence: 18; Value: 1 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm"><B>ARTICLE X. Miscellaneous</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 10.1 Notice</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notices, consents or other
documents required or permitted by this Lease must be given by personal delivery, reputable overnight courier or certified U.S. mail postage
prepaid and will be sent to the respective parties as follows (or at such other address as either party may designate upon written notice
to the other party in the manner provided in this paragraph) and will be deemed delivered upon actual delivery or refusal, if personally
delivered, upon the date of actual delivery or refusal shown on the courier&rsquo;s delivery receipt if sent by overnight courier and
on the fourth business day after deposit in the U.S. mail if sent by certified mail:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To Owner:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To Project Company:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD>
    <TD STYLE="width: 53%">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0cm"><B>Section 10.2 Relationship
of the Parties; No Third Party Beneficiaries</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The duties, obligations and
liabilities of each of the parties are intended to be several and not joint or collective. This Lease will not be interpreted or construed
to create an association, joint venture, fiduciary relationship or partnership between Owner and Project Company or to impose any partnership
obligation or liability or any trust or agency obligation or relationship upon either party. Owner and Project Company will not have any
right, power, or authority to enter into any agreement or undertaking for, or act on behalf of, or to act or be an agent or representative
of, or to otherwise bind, the other party. Except for the rights of Lenders set forth above, no provision of this Lease is intended to
nor will it in any way inure to the benefit of any third party so as to constitute any such person a third party beneficiary under this
Lease, or of any one or more of the terms of this Lease, or otherwise give rise to any cause of action in any person not a party to this
Lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 10.3 Entire Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">It is mutually understood and
agreed that this Lease constitutes the entire agreement between Owner and Project Company and supersedes any and all prior oral or written
understandings, representations or statements, and that no understandings, representatives or statements, verbal or written, have been
made which modify, amend, qualify or affect the terms of this Lease. This Lease may not be amended except in a writing executed by both
parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><B>Section 10.4 Governing
Law</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Lease is made in and will
be governed by the laws of the state in which the Premises is located, and the venue for any dispute will be the county in which the Premises
is located. The parties agree that any rule of construction to the effect that ambiguities are to be resolved in favor of either party
will not be employed in the interpretation of this Lease. In interpreting this Lease, time is of the essence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><B>Section 10.5 Cooperation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -4.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each of the parties, without
further consideration, agrees to execute and deliver such additional documents and take such action as may be reasonably necessary to
carry out the purposes and intent of this Lease and to fulfill the obligations of the respective parties. If, at any time during the Term,
Project Company deems it to be necessary or desirable to meet legal or regulatory requirements, Project Company may request that Owner
reexecute a new lease substantially in the form of this Lease with a term equal to the Term remaining as of the date of execution of the
new lease, and Owner will execute and enter into the new lease with Project Company or its designee. In the event of inaccuracies or insufficiencies
in the legal description of the Premises, this Lease will be amended to correct the inaccuracies or insufficiencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 10.6 Waiver</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Neither party will be deemed
to have waived any provision of this Lease or any remedy available to it unless such waiver is in writing and signed by the party against
whom the waiver would operate. Any waiver at any time by either party of its rights with respect to any rights arising in connection with
this Lease will not be deemed a waiver with respect to any subsequent or other matter. In the event that Project Company makes any overpayments
to Owner hereunder, Project Company will offset the amount of such overpayments to Owner against future payments due to Owner from Project
Company hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 10.7 Force Majeure</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Neither Owner nor Project Company
will be liable to each other, or be permitted to terminate this Lease, for any failure to perform an obligation of this Lease to the extent
such performance is prevented by a Force Majeure, which will mean an event beyond the control of the party affected and which, by exercise
of due diligence and foresight, could not reasonably have been avoided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 10.8 Confidentiality</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner will maintain in the
strictest confidence, for the benefit of Project Company and any assignee or transferee of Project Company, all information pertaining
to the financial terms of or payments under this Lease, Project Company&rsquo;s site or product design, methods of operation, methods
of construction, power production or availability of the Solar Facilities, and the like, whether disclosed by Project Company, any assignee
or transferee, or discovered by Owner, unless such information either (i) is in the public domain by reason of prior publication through
no act or omission of Owner or its employees or agents; or (ii) was already known to Owner at the time of disclosure and which Owner is
free to use or disclose without breach of any obligation to any person or entity. Owner will not use such information for its own benefit,
publish or otherwise disclose it to others, or permit its use by others for their benefit or to the detriment of Project Company, any
assignee or transferee. Notwithstanding the foregoing, Owner may disclose such information to Owner&rsquo;s lenders, attorneys, accountants
and other personal financial advisors solely for use in connection with their representation of Owner regarding this Lease; any prospective
purchaser of the Premises who has a made a written offer to purchase or otherwise acquire the Premises that Owner desires to accept; or
pursuant to lawful process, subpoena or court order requiring such disclosure, provided Owner in making such disclosure advises the party
receiving the information of the confidentiality of the information and obtains the written agreement of said party not to disclose the
information, which agreement will run to the benefit of and be enforceable by Project Company and any assignee or transferee of Project
Company. The provisions of this Section 10.8 will survive the termination or expiration of this Lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 10.9 Tax Credits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If under Legal Requirements
the holder of a leasehold interest in the nature of that held by Project Company under this Lease becomes ineligible for any tax credit,
benefit or incentive for alternative energy expenditure established by any local, state or federal governmental authority, then, at Project
Company&rsquo;s option, Owner and Project Company will amend this Lease or replace it with a different instrument so as to convert Project
Company&rsquo;s interest in the Premises to a substantially similar interest that makes Project Company eligible for such tax credit,
benefit or incentive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 10.10 Severability</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each provision hereof will
be valid and will be enforceable to the extent not prohibited by law. If any provision hereof or the application thereof to any person
or circumstance will to any extent be invalid or unenforceable, the remaining provisions hereof, or the application of such provision
to persons or circumstances other than those as to which it is invalid or unenforceable, will not be affected thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 10.11 Counterparts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Lease may be executed
in two or more counterparts and by different parties on separate counterparts, all of which will be considered one and the same agreement
and each of which will be deemed an original.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B>Section 10.12 Memorandum
of Lease</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Owner and Project Company will
execute in recordable form and Project Company will then record a memorandum of this Lease in the form attached hereto as Exhibit C. Owner
hereby consents to the recordation of the interest of an assignee in the Premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
the undersigned have caused this instrument to be executed as of the __ day of ______, _____.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60%"></TD><TD STYLE="text-align: justify; width: 40%"><B>OWNER</B></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>STATE OF _______________ &sect;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&sect;.</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>COUNTY OF _____________ &sect;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 216pt; text-align: left; text-indent: 0cm"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: left">The foregoing instrument
was acknowledged before this ____ day of _______, ____, by ___________________.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60%"></TD><TD STYLE="text-align: justify; width: 40%">Notary Public</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <U> </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 216pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD COLSPAN="2" STYLE="text-align: justify"><B>PROJECT COMPANY</B></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60%">&nbsp;</TD><TD STYLE="text-align: justify; width: 4%">&nbsp;</TD>
               <TD STYLE="text-align: justify; width: 36%">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
               <TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">By:</TD>
               <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">Its: </TD>
               <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>STATE OF _______________ &sect;</TD><TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&sect;.</TD><TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>COUNTY OF _____________ &sect;</TD><TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing instrument was
acknowledged before this ____ day of _______, ____, by ___________________.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 60%"></TD><TD STYLE="text-align: justify; width: 40%">Notary Public</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT D</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PAYMENT TERMS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm"><B><U>Fairfield, Mexia and Talco
leases:</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0cm">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border: Black 1pt solid; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><B>PV Project</B></TD>
    <TD STYLE="border-top: Black 1pt solid; width: 20%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Owner</B></TD>
    <TD STYLE="border-top: Black 1pt solid; width: 20%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Project Company</B></TD>
    <TD STYLE="border-top: Black 1pt solid; width: 20%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Acres</B></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Execution Date </B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0cm">Fairfield</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0cm">Beenkeragh Ranch LLC</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0cm">Fairfield Solar Project, LLC</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0cm">75.36</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">August 24, 2023</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0cm">Mexia</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0cm">Mexia 202 Ranch, LLC</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0cm">Mexia Solar I, LLC and Mexia Solar II, LLC</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0cm">89.98</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">August 24, 2023</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0cm">Talco</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0cm">Talco 2120 Ranch LLC</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0cm">Talco Solar, LLC</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0cm">80</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">August 24, 2023</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="text-align: center; width: 20%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Payment</B></FONT></P></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 52%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description
    of Payment</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 28%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Timing
    of Payment</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Development
    Period Rent</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beginning
                                            on [the Execution Date], Project Company shall pay to Owner annual rent in the amount of
                                            $20,000 as rent for the Development Period.</FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0.15in; padding-left: 5.4pt; text-align: justify"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            first payment of Development Period Rent, which will comprise of the development period rent
                                            for the first year of the Development Period, shall be due on or before August 30, 2023.
                                            Thereafter, the Development Period Rent shall be paid in advance on each August 30 until
                                            the Operation Date or the termination of this Lease. Any Development Period Rent payments
                                            for less than a full calendar year shall be prorated based on the actual number of days of
                                            the Development Period in such year.</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><P STYLE="text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Operating
                                            Term Lease Schedule</B></FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
                                            the Operating Term, Project Company shall pay Owner in accordance with the payment schedule
                                            which is equivalent to $725/acre (with total area of ____ acres) for the first year escalating
                                            at 2.0% per year. Annual per acre lease schedule below:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 0.15in; padding-left: 5.4pt; text-align: justify"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            first payment of Operating Term, which will comprise of the annual lease payment for the
                                            first year of the Operating Term, shall be due within thirty days after the start of the
                                            Operating Term. Thereafter, lease payments during the Operating Term shall be paid annually
                                            no later than thirty days after the annual anniversary of the Operating Term.</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="36" STYLE="border: Black 1pt solid; vertical-align: top; width: 20%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 26%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Operating
    year</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 26%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Lease
    rate (per acre)</B></FONT></TD>
    <TD ROWSPAN="36" STYLE="border-bottom: Black 1pt solid; vertical-align: top; width: 28%; border-top: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$725</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$739.5</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$754.3</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$769.4</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$784.8</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$800.5</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$816.5</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$832.8</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$849.5</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$866.4</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$883.8</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$901.4</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$919.5</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$937.9</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$956.6</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$975.8</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$995.3</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1015.2</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1035.5</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1056.2</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1077.3</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1098.9</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1120.8</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1143.3</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1166.1</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1189.4</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">27</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1213.2</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1237.5</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">29</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1262.2</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">30</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1287.5</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1313.2</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1339.5</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1366.3</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1393.6</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">35</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1421.5</FONT></TD></TR>
  </TABLE>
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<DOCUMENT>
<TYPE>EX-4.24
<SEQUENCE>5
<FILENAME>ea020166301ex4-24_ellomay.htm
<DESCRIPTION>DEED OF TRUST BETWEEN THE REGISTRANT AND HERMETIC TRUST (1975) LTD., GOVERNING THE COMPANY'S SERIES F DEBENTURES, DATED JANUARY 14, 2024 (TRANSLATION OF HEBREW VERSION)
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 4.24</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Deed of Trust for Debentures (Series F)</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Table of Contents</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; border-bottom: Black 1.5pt solid; width: 76%; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Topic</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; width: 23%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Clause in the Deed</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Preamble; Interpretation; Definitions and Entry into Force</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Issuing the Debentures; the Terms of Issuance; Equal Ranking</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">2</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Appointment of the Trustee; Commencement of Term; Term of Office of the Trustee; Expiration of the Office of the Trustee; Resignation; Dismissal; the Duties of the Trustee; the Powers of the Trustee</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">3</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Purchasing Debentures by the Company or by an Affiliated Holder</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">4</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Issuance of Debentures from New Series; Expanding a Series</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">5</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">The Company&rsquo;s Undertakings</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">6</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Not Securing the Debentures; Negative Pledge</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">7</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Early Redemption</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">8</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Right for Immediate Repayment and/or Realization of Collaterals</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">9</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Claims and Proceedings by the Trustee</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Order of Priority of Creditors; Dividing the Intakes</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">11</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Authority to Demand Financing</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">12</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Authority to Delay the Division of Funds</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Notice of Distribution and Deposit with the Trustee</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">14</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Avoidance from Payment for a Reason that is not Dependent on the Company; Deposit with the Trustee</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt; font-weight: normal">Receipt from the </FONT><FONT STYLE="font-size: 10pt">Debenture <FONT STYLE="font-weight: normal">Holders and the Trustee</FONT></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Presenting Debentures to the Trustee and Registration pertaining to Partial Payment</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">17</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Investment of Funds</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">18</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Urgent Representing Body for the Debenture Holders</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">19</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Confidentiality</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">20</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Other Agreements</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">21</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Reporting by the Trustee</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Fees and Covering the Trustee&rsquo;s Expenses</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">23</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Liability</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">24</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">The Authority of the Trustee to Employ Agents</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">25</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Indemnification</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">26</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Notices</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">27</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Waiver; Settlement; Changes in the Terms of the Deed of Trust, Debentures</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">28</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Proxies</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">29</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Registry of Debenture Holders</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">30</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Meetings of Debenture Holders</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">31</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Applicability of the Law</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">32</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Exclusive Authority</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">33</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">General</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">34</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Addresses</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">35</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Authorization to Magna</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">36</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-indent: -0.125in; padding-left: 0.125in; text-align: justify; width: 79%"><FONT STYLE="font-size: 10pt"><B>Topic</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; text-align: center; width: 20%"><FONT STYLE="font-size: 10pt"><B>Clause in the Deed</B></FONT></TD></TR>

<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left; width: 76%"><FONT STYLE="font-size: 10pt">The Date of Payment of the Debentures Principal</FONT></TD>
    <TD STYLE="text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 23%"><FONT STYLE="font-size: 10pt">Clause 3 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">The Interest</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 4 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">The Linkage Terms of the Principal and the Interest</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 5 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Deferral of Appointed Times</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 6 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Payments of the Principal and Interest of the Debentures</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 7 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Interest in Arrears</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 8 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Avoidance from Payment for a Reason that does not Depend on the Company</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 9 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Registry of Debenture Holders</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 10 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Splitting Debenture Certificates and Transferring Them</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 11 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Replacing the Debenture Certificate</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 12 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Early Redemption</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 13 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Purchasing Debentures by the Company or an Affiliated Holder</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 14 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Waiver; Settlement and Changes in the Debenture Terms</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 15 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Debenture Holders Meetings</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 16 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Receipts as Proof</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 17 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Immediate Repayment</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 18 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Notices</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Clause 19 of the First Addendum</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Roles of the Trustee</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Appendix 3 </FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Conditions for Expanding the Series of Debentures</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Appendix 5.2</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Financial Covenants and Undertakings</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Appendix 6.2</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Confidentiality Undertaking</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Appendix 20.2</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">The Trustee&rsquo;s Fee and Covering his Expenses</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Appendix 23</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 10pt">Meetings of Debenture Holders</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Second Addendum</FONT></TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 2; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Deed of Trust</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Of the 14<SUP>th</SUP> day of January, 2024
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1.5in; text-align: left">Between:</TD><TD STYLE="text-align: justify"><B>Ellomay Capital Ltd.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">52-003986-8</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">of 18 Rothschild Blvd.,
Tel Aviv</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(hereinafter: the
&ldquo;<B>Company</B>&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: right"><B><U>Of the first part;</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1.5in; text-align: left">And between:</TD><TD STYLE="text-align: justify"><B>Hermetic Trust (1975) Ltd.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">51-070519-7</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">of 30 Sheshet HaYamim
St., Bnei Brak</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(hereinafter: the
&ldquo;<B>Trustee</B>&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><U>Of the second part;</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1.25in; text-align: left"><B>Whereas:</B></TD><TD STYLE="text-align: justify">In January 2024 the Board of Directors of the Company resolved
to approve in principle the issue of debentures (Series F) whose conditions are as stated in this Deed of Trust and that will be offered
to the public according to a shelf offering report, by virtue of the Shelf Prospectus (as hereinafter defined);</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -85.05pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1.25in; text-align: left"><B>And whereas:</B></TD><TD STYLE="text-align: justify">the Trustee is a company limited by shares that was incorporated
in Israel in 1975 in accordance with the Companies Ordinance, whose main purpose is to engage in trusts, and it meets the eligibility
requirements established by law, and in particular the requirements of the Securities Law (as hereinafter defined) to serve as a trustee
of the debentures which are the subject of this deed;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -85.05pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1.25in; text-align: left"><B>And whereas:</B></TD><TD STYLE="text-align: justify">the Trustee declared that there is no hindrance in accordance
with the Securities Law or any other law barring it from entering into this Deed of Trust with the Company, including pertaining to conflicts
of interests preventing him from engaging with the Company as stated, and that it meets all of the demands and eligibility requirements
set forth in the Securities Law to serve as Trustee for the issuance of the Debenture subject matter of this Deed;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -85.05pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1.25in; text-align: left"><B>And whereas:</B></TD><TD STYLE="text-align: justify">the Trustee has no material interest in the Company, and the
Company has no personal interest in the Trustee, except for the fact that the Trustee is trustee for additional debentures of the Company;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -85.05pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1.25in; text-align: left"><B>And whereas:</B></TD><TD STYLE="text-align: justify">the Company requested the Trustee, subject to the issuance of
the Debentures (Series F), the Trustee will serve as a Trustee for the Holders of the Debentures (Series F) and the Trustee agreed to
the said and all subject to and in accordance with the provisions set forth in this Deed of Trust;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -85.05pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1.25in; text-align: left"><B>And whereas:</B></TD><TD STYLE="text-align: justify">the Trustee has agreed to sign this Deed of Trust and to act
as Trustee for the Debenture Holders ;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -85.05pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1.25in; text-align: left"><B>And whereas:</B></TD><TD STYLE="text-align: justify">the Company obtained or will obtain until the execution of the
issuance subject matter of this Deed all approvals and/or all consents that are required for the purpose of performing the issuance pursuant
to any law and/or all agreement pursuant to this Deed of Trust, and that subject to receipt of the consents and approvals as aforementioned
there is no hindrance by law and/or all agreement to perform the issuance of the Debentures (Series F) and/or to engage with the Trustee
in accordance with the Deed of Trust;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -85.05pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1.25in; text-align: left"><B>And whereas:</B></TD><TD STYLE="text-align: justify">the parties wish to arrange the terms of the Debentures (Series
F) in this Deed of Trust, in light of the Company&rsquo;s intention to make a first public offering of the Debentures (Series F) in accordance
with the Shelf Offering Report by virtue of the Shelf Prospectus, in a way that the Deed of Trust will apply solely to the Debentures
(Series F);</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -85.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -85.05pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -85.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Therefore, it was agreed, declared, and stipulated
by and between the parties as follows:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD STYLE="text-align: justify"><U>Preamble; Interpretation; Definitions and Entry into Force</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">1.1.</TD><TD STYLE="text-align: justify">The preamble of this Deed of Trust and the appendixes attached
thereto constitute a material and inseparable part hereof.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.2.</TD><TD STYLE="text-align: justify">The division of this Deed of Trust into clauses and providing titles to the clauses was made for convenience
and as reference only and they should not be used for the purpose of interpretation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.3.</TD><TD STYLE="text-align: justify">Anything mentioned in this Deed of Trust in plural shall also refer to singular and vice versa, anything
mentioned in the masculine shall also refer to the feminine and vice versa, and anything mentioned regarding a person shall also refer
to a body corporate, provided that this Deed does not contain any express provision otherwise.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.4.</TD><TD STYLE="text-align: justify">In the event of discrepancy between the Deed of Trust and the accompanying documents thereto and the said
in the Shelf Offering Report, the provisions set forth in the Deed of Trust shall take precedence, subject to the Stock Exchange regulations
and guidelines. As of the signing date of the Deed of Trust, there is no contradiction between the provisions relating to the Debentures
(Series F) in the Shelf Offering Report and the provisions set forth in this Deed. This Deed including all provisions hereof shall enter
into force together with and subject to the issuance of the Debentures (Series F). It is clarified that in the event the Debentures (Series
F) are not issued for any reason, this Deed shall automatically expire and the trust contemplated hereunder shall not enter into force.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">As used in this Deed of Trust, the
following terms shall have the respective meanings set forth beside them below unless otherwise stated expressly:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Debentures (Series F)</B>&rdquo;
or the &ldquo;<B>Debentures</B>&rdquo; or &ldquo;<B>Debentures in Circulation</B>&rdquo; or &ldquo;<B>Certificates of Undertaking</B>&rdquo;
or &ldquo;<B>the Debentures Series</B>&rdquo; or &ldquo;<B>Series F</B>&rdquo;: Debentures (Series F) of the Company, registered by name,
which will be issued according to the shelf offering reports by virtue of the Shelf Prospectus and/or by any other means by the Company,
including via private issuance, from time to time, and that have not been fully paid or expired or cancelled and all subject to the provisions
of this Deed of Trust. For the avoidance of doubt, it is clarified that the Debentures also include debentures which shall be issued by
way of expanding the series of Debentures (Series F), and the Debentures stemming from the exercise of options exercisable into the Debentures
(Series F) to the extent that such options will be issued and exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Meeting</B>&rdquo; or &ldquo;<B>Debenture
Holders Meeting</B>&rdquo;: a meeting of Debenture Holders, including a class meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Deferred Debenture Holders
Meeting</B>&rdquo;: a Debenture Holders Meeting that was deferred to another time than the one scheduled for opening the Meeting, as a
legal quorum was not present at the end of half an hour after the time that was scheduled for the beginning of the Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Stock Exchange</B>&rdquo;:
the Tel-Aviv Stock Exchange Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Collaterals</B>&rdquo;: Any
pledge on assets, guarantee or any other undertakings that secure the undertakings of the Company towards the Debenture Holders whether
given by the Company and/or any third party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Immediate Report</B>&rdquo;:
A report of the Company that is submitted in accordance with the provisions of Section 35EE of the Securities Law, including the Securities
Regulations (Periodical Reports and Immediate Reports of a Foreign Corporation), 5761-2001.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The &ldquo;<B>Shelf Offering Report</B>&rdquo;:
the shelf offering reports in accordance with the provisions set forth in Section 23A(f) of the Law according to which, <I>inter alia</I>,
the offering of the Debentures (Series F) shall be performed from time to time, and that will complete the entire specific details for
that offering, including the composition of the offered units, in accordance with the provisions set forth in any law, in accordance with
the bylaws and the Stock Exchange Regulations that are in effect from time to time and in accordance with the provisions of this Deed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Ordinary Resolution</B>&rdquo;:
a resolution adopted at a Debenture Holders Meeting, convened in accordance with Sections 35L13 and 35L14(a) of the Law (whether in the
original meeting or the adjourned meeting) by a majority of at least fifty percent (50%) of all votes of participants in the vote, without
taking into account abstaining votes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Special Resolution</B>&rdquo;:
a resolution adopted at a Debenture Holders Meeting, in which were present, by themselves of by proxies, the holders of Debentures who
own at least fifty percent (50%) of the remaining nominal value of the Debentures (Series F) in circulation, or at a Deferred Debenture
Holders Meeting, who were present in it by themselves or by proxies, and who hold twenty percent (20%) at least of the stated remainder,
and which was adopted (whether in the original Meeting or the Deferred Debenture Holders Meeting) by a majority of those who hold at least
two thirds of the remaining nominal value of the Debentures represented in the vote, without taking into consideration abstaining votes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Nominee Company</B>&rdquo;:
Mizrahi Tefahot Nominee Company Ltd. or any other nominee company in its place, at the Company&rsquo;s sole discretion, provided that
all of the Company&rsquo;s debentures are registered in the name of the same Nominee Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The <B>&ldquo;Companies Law</B>&rdquo;:
the Companies Law, 5759-1999 and the regulations promulgated thereunder, as in effect from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The &ldquo;<B>Insolvency Law</B>&rdquo;:
the Insolvency and Economic Rehabilitation Law 5778-2018 and the regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The &ldquo;<B>Law</B>&rdquo; or the
&ldquo;<B>Securities Law</B>&rdquo;: The Securities Law, 5728-1968 and the regulations according to it, as they shall be from time to
time. It is clarified that as of the date of this Deed of Trust the Company reports according and is subject to the provisions of Chapter
E.3 of the Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Trading Day</B>&rdquo;: any
day on which transactions are performed at the Stock Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Business Day</B>&rdquo;:
any day in which the majority of the banks in Israel are open for the purpose of performing transactions with the public.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Magna</B>&rdquo;- the Electronic
Proper Disclosure System of the Israel Securities Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Holder</B>&rdquo; or &ldquo;<B>Debenture
Holder</B>&rdquo;: within the meaning of the term &lsquo;holder&rsquo; in the Securities Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Registry</B>&rdquo;: Registry
of Debenture Holders as mentioned in clause 30 of this Deed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Trustee</B>&rdquo;: The First
Trustee (as hereinafter defined) and/or anyone that shall serve from time to time as Trustee of the Debenture Holders according to this
Deed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The &ldquo;<B>First Trustee</B>&rdquo;
Hermetic Trust (1975) Ltd. that shall serve as Trustee up to the date set forth in clause 3.4 hereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Office Holder</B>&rdquo;:
as defined in the Companies Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Principal</B>&rdquo;: the
total nominal value of the Debentures in Circulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Control</B>&rdquo; as this
term is defined in the Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The &ldquo;<B>Deed</B>&rdquo; or &ldquo;<B>This
Deed</B>&rdquo; or &ldquo;This <B>Deed of Trust</B>&rdquo;: This Deed of Trust and the amendments thereof, inasmuch as there shall be
any, including the addendums and appendixes attached to it and that constitute a material and integral part hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Debenture Certificate</B>&rdquo;:
The Debenture certificate the version of which is attached as the first addendum of this Deed of Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The &ldquo;<B>Shelf Prospectus</B>&rdquo;:
a shelf prospectus of the Company that was published in October 2020 as amended from time to time and that was extended until January
18, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">1.5</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Anywhere in this Deed that uses
the phrase &ldquo;subject to any law&rdquo; (or any other similar expression) the meaning is subject to any law that cannot be conditioned.
On the date of making this Deed of Trust, the Company is a reporting company in accordance with, and subject to, the provisions of chapter
E&rsquo;3 of the Law.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 52.35pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: justify"><U>Issuing the Debentures; the Terms of Issuance; Equal Ranking</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.1.</TD><TD STYLE="text-align: justify">The Company shall issue a series of Debentures (Series F) under the terms set out on the back of the page
of the first addendum.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.2.</TD><TD STYLE="text-align: justify">If after the date of the first issuance of the Debentures (Series F) this same series of Debentures shall
be expanded by the Company, the Holders of the Debenture (Series F) that shall be issued in the framework of the expansion of that series
shall not be entitled to receive payment on account of the Principal and/or interest for these Debentures that the record date for payment
thereof shall be before the date of their issuance as mentioned.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.3.</TD><TD STYLE="text-align: justify">The Company shall be entitled, or obligated, as the case may be, to perform an early redemption of the
Debentures in the event the terms set forth in clause 8 of the Deed of Trust have been fulfilled.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.4.</TD><TD STYLE="text-align: justify">The Debentures shall all be set at an equal security ranking pari passu between them with respect with
the Company&rsquo;s undertakings according to this Deed of Trust, and without a preferred right or right of priority over one another.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.5.</TD><TD STYLE="text-align: justify">The provisions of this Deed shall apply to the Debentures issued in accordance therewith, and which shall
be held, from time to time, to each Debenture Holder, including the public, unless expressly stated otherwise.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.6.</TD><TD STYLE="text-align: justify">This Deed of Trust shall enter into effect upon the Company&rsquo;s issuance of the Debentures. It is
agreed that in case the issuance of Debentures is revoked for any reason whatsoever, this Deed of Trust shall be null and void.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify"><U>Appointment of the Trustee; Commencement of Term; Term of Office of the Trustee; Expiration of the
Office of the Trustee; Resignation; Dismissal; the Duties of the Trustee; the Powers of the Trustee</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B><U>Appointment of Trustee</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.1.</TD><TD STYLE="text-align: justify">The Company hereby appoints the Trustee as the First Trustee for the Debenture Holders (Series F) pursuant
to the provisions of Chapter E.1 of the Securities Law including for those entitled to payments pursuant to the Debentures that were not
paid after the date for their payment arrived.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.2.</TD><TD STYLE="text-align: justify">If the Trustee shall be replaced by another Trustee, the other Trustee shall be Trustee for the Debenture
Holders pursuant to Chapter E.1 of the Securities Law including for those entitled to payments pursuant to the Debentures which were not
paid after the date for their payment arrived.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B><U>Commencement of Term</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.3.</TD><TD STYLE="text-align: justify">The Trust for the Debenture Holders and the duties of the Trustee according to this Deed of Trust shall
come into force upon the issuance of the Debentures pursuant to the Deed by the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B><U>Term of Office of the Trustee;
Expiration of Term of Office of the Trustee, Resignation; Dismissal</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.4.</TD><TD STYLE="text-align: justify">The First Trustee shall serve commencing on the date mentioned in clause 3.3 above and his office shall
end at the time on which the Debenture Holders Meeting is convened (the &ldquo;<B>First Appointment Meeting</B>&rdquo;), that the Trustee
shall convene no later than 14 days after submitting the annual report regarding Trusteeship matters in accordance with Section 35H1(a)
of the Law. Insofar as the First Appointment Meeting (by ordinary majority) approved the continuation of the term of office of the First
Trustee, it shall continue to serve as Trustee until the end of the additional appointment period that was determined in a resolution
of the First Appointment Meeting (which could be until the final repayment date of the Debentures). Insofar as the First Appointment Meeting
and/or any later Meeting determined the term of office of the Trustee, its term of office shall end with the adoption of a resolution
of the Debenture Holders regarding the termination of his term of office and the appointment of another Trustee in his place.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.5.</TD><TD STYLE="text-align: justify">Notwithstanding the provisions of this clause 3, the provisions of the Law shall apply to the appointment
of the Trustee, his replacement, term of office, expiration, resignation and dismissal.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Notwithstanding the aforesaid, the
resolutions of Holders regarding the termination of the term of office of the Trustee and its replacement with another trustee shall be
made in a Debenture Holders Meeting in which at least fifty percent of the remainder of the par value of the Debentures of the same series
were present, and for the purpose of a Postponed Debenture Holders Meeting &ndash; provided that the Holders of no less than ten percent
of the consideration as said attended such meeting, and also on the condition that the resolution was adopted by a majority of no less
than seventy-five (75%) of the remainder of the par value of the Debentures that were in circulation at the time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B><U>The Trustee&rsquo;s Duties</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.6.</TD><TD STYLE="text-align: justify">The duties of the Trustee shall be those mentioned expressly in this Deed of Trust, including in <B><U>Appendix
3</U></B> thereof, and according to the law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B><U>The Trustee&rsquo;s Powers</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.7.</TD><TD STYLE="text-align: justify">The Trustee shall represent the Holders of the certificates of undertaking in any matter that arises from
the undertakings of the Company towards them, and it shall be entitled for this purpose to act in order to realize the rights given to
the Debenture Holders according to the Law or according to this Deed. The Trustee is entitled to take any proceeding for the purpose of
protecting the Holders&rsquo; rights in accordance with any law and in accordance with the provisions set forth in this Deed of Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.8.</TD><TD STYLE="text-align: justify">The actions of the Trustee are valid notwithstanding a flaw discovered in its appointment or qualifications.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.9.</TD><TD STYLE="text-align: justify">The Trustee shall use the trust, powers, permissions and authorities that were conferred upon him according
to this Deed of Trust, at its discretion or in accordance with the resolutions of a Meeting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.10.</TD><TD STYLE="text-align: justify">The Trustee shall be entitled to deposit all of the deeds and the documents that indicate, represent and/or
stipulate its rights with respect to the trust pertaining to this Deed of Trust, including with respect to any asset that is in its possession
at that time, in a safe and/or in another place that shall be chosen and/or at any bank and/or any banking auxiliary corporation and/or
lawyer and/or accountant.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.11.</TD><TD STYLE="text-align: justify">The Trustee is permitted in the framework of performing the Trusteeship matters according to this Deed
of Trust, to order an opinion and/or the advice of any lawyer, accountant, appraiser, assessor, surveyor, broker or any other expert (the
<B>&ldquo;Consultants</B>&rdquo;), whether such opinion and/or advice was prepared at the Trustee&rsquo;s request and/or at the Company&rsquo;s
request, and to act in accordance with its conclusion, and the Trustee shall not be responsible for any loss or damage that shall occur
as a result of any action and/or omission that were made by it based on such advice or opinion as aforesaid, unless it was determined
in a final judgment that the Trustee acted negligently (apart from negligence which is exempt by law a shall be from time to time) and/or
in bad faith and/or maliciously. The Trustee shall provide a copy of the opinion or advice as mentioned for the viewing of Debenture Holders
and the Company, at their request (it is clarified that the opinion shall not be made available to the Company to the extent that the
Debenture Holders adopt a resolution for the purpose of this matter). The Company shall bear the full fee and reasonable expenses of hiring
the Consultants appointed as stated. The Trustee and the Company shall reach an agreement over a list of no more than three consulting
firms with relevant reputation and expertise, which the Trustee shall approach for receiving fee quotes as stated. The Company shall select
one of the offers submitted, and shall be entitled to negotiate with the firms regarding their quote for a period of up to 5 Business
Days, provided that the delay due to the negotiation shall not risk, at the Trustee&rsquo;s opinion, the rights of the Holders of Debentures.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Any advice and/or opinion such as this
can be given, sent or received by letter, telex, facsimile and/or any other electronic means for transferring information and the Trustee
may act based on them, even if it turns out afterwards that errors occurred in them or that they were not authentic, unless it was possible
to detect the errors or the lack of authenticity in a reasonable examination, provided that it has not acted negligently (apart from negligent
exempt by law, as it shall be from time to time) and/or in bad faith and/or maliciously. It is clarified that the documents could be transferred,
on the one hand, and that the Trustee is entitled to rely upon them, on the other hand, only where they are received clearly, and when
they are legible. In any other case, the Trustee shall be responsible to request their receipt in a manner enabling their proper reading
and understanding as stated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.12.</TD><TD STYLE="text-align: justify">The Trustee shall be entitled to give its consent or approval to any motion to the court as per the demand
of a Debenture Holder, and the Company shall compensate the Trustee for all reasonable costs that were incurred by such motion and from
actions performed as a result of it or with respect to it provided that before making such expense as abovementioned the Trustee will
update the Company regarding its intention to make such expenses and will receive the Company&rsquo;s approval for this, unless in the
opinion of the Trustee such prior update as aforementioned could harm the rights of the Debenture Holders, and in such circumstances the
Trustee shall not provide any update and no approval from the Company with respect to the said request shall be required.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.13.</TD><TD STYLE="text-align: justify">The Trustee is entitled to institute any proceeding for protecting the rights of the Debenture Holders
in accordance with the provisions set forth in any law and as stated in the Deed of Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.14.</TD><TD STYLE="text-align: justify">The Trustee is entitled to appoint agents as set forth in clause 25 of this Deed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt">4.</TD><TD STYLE="text-align: justify"><U>Purchasing Debentures by the Company or by an Affiliated Holder</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.1.</TD><TD STYLE="text-align: justify">Subject to any law, and without prejudice to the right of the Company to redeem the Debentures in early
payment as stated in this Deed, the Company reserves the right to purchase at any time, whether on the Stock Exchange or outside of the
Sock Exchange, Debentures which shall be in circulation from time to time from other sellers apart from the Company (which shall be selected
at its discretion and without the duty of approaching and/or notifying all Holders), at any price and quantity that it shall see fit,
all without harming the duty of repayment imposed on it pertaining to the remaining Debentures (Series F) in circulation. In the event
of such purchase by the Company, the Company shall notify this in an Immediate Report, inasmuch as it is required by law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Debentures purchased by the Company
shall be revoked and delisted from trade on the Stock Exchange, and the Company shall not be entitled to re-issue them. In case the Debentures
are purchased by the Company, the Company shall approach the Stock Exchange clearing house in a request to withdraw the Debenture Certificates
purchased by it as stated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.</TD><TD STYLE="text-align: justify">Subject to any law, the holders of controlling interests in the Company (directly or indirectly) and/or
their relative (according to the definition of the term &ldquo;relative&rdquo; in the Law) and/or a subsidiary of the Company and/or an
affiliated company of the Company and/or an included company of the Company and/or a corporation in the control of the Company or of any
of them (directly or indirectly) (apart from the Company itself, regarding which the stated in clause 4.1 of the Deed shall apply) (&ldquo;<B>Affiliated
Holder</B>&rdquo;), shall be entitled to purchase and/or sell at any time and from time to time, at the Stock Exchange or outside of it
(including by way of an issuance by the Company), Debentures (Series F) at their discretion. The Debentures that are held by an Affiliated
Holder shall be considered as the asset of the Affiliated Holder, shall not be delisted from trade on the Stock Exchange and they shall
be transferable as the other Debentures of the Company (subject to the provisions of the Deed of Trust and the Debenture).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.</TD><TD STYLE="text-align: justify">The Debentures (Series F) held by an Affiliated Holder shall not grant him voting rights in the Meetings
of Holders of Debentures (Series F) and shall not be counted for the purpose of determining a legal quorum for opening these Meetings.
Inasmuch as an Affiliated Holder shall report to the Company regarding the purchase of Debentures (Series F), the Company shall deliver
to the Trustee, at its request, the list of Affiliated Holders and the amounts held by them.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.4.</TD><TD STYLE="text-align: justify">The stated in clauses 4.1 to 4.3 above does not derogate from the provisions of any law (including the
instructions of the Israeli Securities Authority) applying to the Company, including pertaining to approvals required for performing transactions
with a holder of controlling interest (or in which the holder of controlling interest has a personal interest) and/or pertaining to the
sale of securities to a Company subsidiary and distributing them to the public.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.5.</TD><TD STYLE="text-align: justify">The stated in this clause 4, in and of itself, does not bind the Company, an Affiliated Holder or the
Debenture Holders to purchase Debentures or to sell the Debentures they hold.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt">5.</TD><TD STYLE="text-align: justify"><U>Issuance of Debentures from New Series; Expanding a Series</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.1.</TD><TD STYLE="text-align: justify">The Company <U>reserves the right</U> to issue, subject to the provisions of the law, at any time and
from time to time (whether by a private offering or an offering to the public), at its sole discretion, to any factor whatsoever, including
to an Affiliated Holder, and without needing the consent of the Trustee and/or the Debenture Holders, debentures of another series or
additional series of Debentures, whether or not conferring a right of conversion into the shares of the Company (hereinafter: the &ldquo;<B>Other
Series</B>&rdquo;) or other securities, under terms of redemption, interest, linkage, priority of payment in the event of liquidation
and other terms, including securing them in collaterals, as the Company shall see fit, and whether they are preferable over the terms
of the Debentures, equal to them or inferior to them, and this without derogating from the duty of repayment imposed on it in accordance
with this Deed. Despite the foregoing, inasmuch as the Company shall issue an additional series of debentures, or another series of securities
that constitute a debt (hereinafter collectively: the &ldquo;<B>Other Securities</B>&rdquo;) and the Other Securities are not secured
with collaterals (and as long as they are not secured with collaterals) the rights of the Other Securities in liquidation shall not have
preference in the creditors hierarchy of the Debentures (Series F). In addition, to the extent the Company issues Debentures of another
series or series that are secured with collaterals or Other Securities that will be secured with collaterals, the rights of the said other
series or Other Security as said (as the case may be) in liquidation shall have priority over the rights of the Debentures (Series F)
solely with respect to the collaterals that will be provided. The Company shall provide the Trustee with a written confirmation, no later
than 7 days prior to the issuance of Other Securities as stated, regarding its meeting the conditions set forth in this clause, signed
by the Company CEO or the senior financial officer in the Company. The Trustee shall be entitled to rely on such approval and shall not
be required to conduct additional inspections. Without derogation from the foregoing, the Company&rsquo;s stated rights shall not detract
from the rights of the Trustee and/or Debenture Holders in accordance with this Deed, including their right to make the Debentures (Series
F) immediately repayable in accordance with the provisions of the Deed of Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.2.</TD><TD STYLE="text-align: justify">The Company shall be entitled, from time to time, without the need for obtaining the approval of the Trustee
and/or the current Holders at that time, to issue additional Debentures (Series F) (whether by private offering, whether in the framework
of a prospectus, whether by shelf offering report or any other way), including to an Affiliated Holder (as the term is defined in clause
4.2 of this Deed), for any price and at any manner as it shall see fit, provided that it notifies the Trustee in this regard. The Company
shall approach the Stock Exchange in a request to register the additional Debentures (Series F) for trade as stated.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Notwithstanding the provisions of this
clause 5.2 above, the Company <U>shall not</U> be entitled to issue, whether by issuance to the public according to a prospectus, and
whether in any other manner, additional Debentures of Series F, unless all of the terms set forth in <B><U>Appendix 5.2</U></B> of this
Deed have been fulfilled or after receiving the approval of the Debenture Holders Meeting at the majority required for the purpose of
adopting a Special Resolution, provided that for the purpose of adopting the resolution, the legal quorum shall be determined in accordance
with the provisions applying to an Ordinary Resolution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">For the avoidance of doubt it shall
be clarified, that all of the provisions of the Deed of Trust that apply to the Debentures in Circulation shall apply to additional Debentures
of Series F that shall be issued, as mentioned, and the existing Debentures of Series F and the additional Debentures of that series (as
of the time of their issuance) shall constitute a single series for all matters and purposes, and the Deed of Trust shall also apply to
all additional Debentures (Series F) as stated. For the avoidance of doubt, holders of additional Debentures of Series F, which shall
be issued in a series expansion as mentioned, shall not be entitled to payment of any Principal and/or interest and/or any other payment
that the record date for payment is prior to their date of their issuance. Subject to the provisions of any law and the Deed of Trust,
the Trustee shall hold office as trustee for the Debentures (Series F), as they shall be from time to time in circulation, even in case
of a series expansion, and the Trustee&rsquo;s consent for his office as stated pertaining to the expanded series shall not be required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company&rsquo;s right to expand
a series, as stated above, does not detract from the Trustee&rsquo;s right to inspect the implications of an issuance as stated, and does
not detract from the rights of the Trustee and/or the Debenture Holders in accordance with this Deed, including their right to make the
Debentures (Series F) immediately repayable in accordance with the provisions of the Deed of Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.</TD><TD STYLE="text-align: justify">Without derogating from the foregoing, the Company reserves the right to issue additional Debentures of
Series F, by way of series expansion at a different discount rate from that of the Debentures (Series F) which shall be in circulation
at that time (inasmuch as there shall be any). If the discount rate which shall be determined for the Debentures (Series F) due to the
series expansion shall be different from the discount rate of the Debentures (Series F) in Circulation at that time (inasmuch as there
shall be any), the Company shall approach the tax authority, prior to expanding the series, in order to obtain its approval that with
regards to withholding tax from the discount fees for the Debentures, the Debentures shall be set a uniform discount rate in accordance
with a formula weighting the various discount rates in the Debentures (Series F), inasmuch as there shall be any. In the event of receiving
an approval as stated, the Company shall calculate the weighted discount rate for all the Debentures from the series after expanding the
series, it shall publish in an Immediate Report the uniform weighted discount rate for the entire series of Debentures and the members
of the Stock Exchange shall deduct tax at the payment dates of the Debentures according to the weighted discount rate as mentioned an
in accordance with the provisions of the law. If an approval of the tax authorities regarding such discount rates shall not be received,
the Company shall notify in an Immediate Report, prior to issuing the Debentures as a result of expanding the series, of not receiving
the approval as stated and that the uniform discount rate will be the highest discount rate that was created for the series. The members
of the Stock Exchange shall deduct withholding tax at the time of repayment of the Debentures in Circulation, in accordance with the discount
rate that shall be reported as aforementioned. Therefore, there may be cases where the Company shall deduct withholding tax for discount
fees, at a higher rate than the discount fees determined to whoever held Debentures before the series was expanded. In this case, it is
the responsibility of the Debenture Holder (and the Debenture Holder only) who held the Debentures before the series was expanded and
until their repayment and who is entitled, in light of their payment, to a refund of withholding tax, for the over-discount, to submit
a report to the tax authority on this matter insofar as he shall wish to receive a tax refund as stated and inasmuch as he is entitled
to a tax refund by law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.4.</TD><TD STYLE="text-align: justify">The Company shall notify in an Immediate Report regarding the issuance of debentures as mentioned in this
clause above.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt">6.</TD><TD STYLE="text-align: justify"><U>The Company&rsquo;s Undertakings</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company hereby undertakes towards
the Trustee and the Debenture Holders, until immediately after the final payment of the Debentures, and for as long as all the undertakings
towards the Debenture Holders and the Trustee were not fulfilled according to this Deed, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.1.</TD><TD STYLE="text-align: justify">To pay, at the times scheduled for this purpose, the sums of the Principal, and the interest (including
interest in arrears, if and inasmuch as it shall apply, and additional interest for breaching financial covenants, inasmuch as they shall
apply) which shall be paid according to the terms of the Debentures and the provisions of this Deed, and to fulfill all the other terms
and undertakings that are imposed on it according to the terms of the Debentures and according to this Deed of Trust. In any case where
the date of payment on account of a Principal and/or interest shall be on a day which is not a Business Day, the payment date shall be
deferred to the next Business Day, without any additional payment, interest or linkage, and the record date for the purpose of making
the payment will not change as a result of such circumstances.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.2.</TD><TD STYLE="text-align: justify">To fulfill all of the financial covenants and undertakings set forth in <B><U>Appendix 6.2</U></B> to
this Deed including its entire undertakings in connection with the distribution, as such term in defined in the Companies Law and as stated
in the said Appendix.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.3.</TD><TD STYLE="text-align: justify">To persist and manage the business of the Company and companies in its control in a regular and proper
manner.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.4.</TD><TD STYLE="text-align: justify">To notify the Trustee in writing as soon as possible, and no later than 2 Business Days regarding the
occurrence of any of the events set forth in clause 9.1 of the Deed, including its sub-clauses, or regarding a real knowledge of the Company
that an event as stated is about to take place, without taking into account the cure periods set forth in clause 9.1 of the Deed, inasmuch
as any exist in the stated clauses and to take, at its expense, all reasonable means required for the purpose of eliminating the foreclosure
action, the action for the purpose of exercising the pledges or revoking the receivership, the liquidation or the administration, insofar
as it is relevant and as the case may be.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.5.</TD><TD STYLE="text-align: justify">To deliver to the Trustee as soon as possible and no later than the end of 30 days from the day of the
first issuance of the Debentures (Series F) or from the time of performing a series expansion in any way, an amortization schedule for
paying the Debentures (Principal and interest) in an Excel file.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.6.</TD><TD STYLE="text-align: justify">To notify the Trustee in a written notice signed by the senior financial officer in the Company, within
4 Business Days from the date of payment, of any payment to the Debenture Holders and of the balance of the sums that the Company owes
at that time to the Debenture Holders after making the aforementioned payment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.7.</TD><TD STYLE="text-align: justify">To deliver to the Trustee annual financial statements and quarterly financial results, as the case may
be, and in accordance with the requirements of the Israeli law that apply to the Company in its capacity as a dual listed Company, at
the time of their publication and in any event no later than from the time scheduled for their publication in the Israeli law applying
to companies reporting in accordance with the provisions of chapter E&rsquo;3 of the Securities Law. In the event the Company is no longer
a public company or a reporting company, the Company shall report in accordance with the provisions of clause 6.22 of this Deed). Notwithstanding
the foregoing, it is clarified that the quarterly financial results shall be published by the end of the following quarter in a framework
which shall be no less that the framework of the Press Release in which the Company has published its financial results for the third
quarter of 2023.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.8.</TD><TD STYLE="text-align: justify">Deleted.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.9.</TD><TD STYLE="text-align: justify">To deliver to the Trustee in writing, notices regarding the purchase of Debentures by the Company or an
Affiliated Holder, immediately upon the Company becoming informed of this.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.10.</TD><TD STYLE="text-align: justify">On December 31<SUP>st</SUP> of each year, and for as long as this Deed is in effect, the Company shall
furnish to the Trustee a confirmation of the Company signed by the Company CEO or the senior financial officer in the Company, that in
the period starting from the date of the Deed and/or from the date of the prior confirmation that was given to the Trustee, whichever
is later, and until the date of the confirmation, the Company has not breached this Deed, including a breach of the terms of the Debenture,
unless expressly mentioned otherwise.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.11.</TD><TD STYLE="text-align: justify">To deliver to the Trustee copies of the notices and invitations which the Company shall give to the Debenture
Holders, as mentioned in clause 27 hereinafter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.12.</TD><TD STYLE="text-align: justify">To cause that a senior financial officer in the Company shall give, no later than fourteen (14) Business
Days from the time of the Trustee&rsquo;s request, to the Trustee and/or to the people who the Trustee shall order, any explanation, document,
calculation or information regarding the Company, its business and/or assets that shall be required in a reasonable manner, at the Trustee&rsquo;s
discretion, for fulfilling the Trustee&rsquo;s duties and for protecting the rights of the Debenture Holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.13.</TD><TD STYLE="text-align: justify">To manage regular accounting books in accordance with generally acceptable accounting principles. To keep
the books and documents that serve as reference to them (including deeds of pledge and mortgage, bills and receipts), and to enable the
Trustee and/or any authorized representative of the Trustee to view, at a time pre-coordinated with the Company, within ten (10) Business
Days, any book as stated and/or document as stated, which the Trustee shall request to view. For this matter, an authorized representative
of the Trustee is any person appointed by the Trustee for the purpose of viewing as stated, in a written notice by the Trustee which shall
be given to the Company prior to viewing as stated, subject to an undertaking of confidentiality in accordance with the provisions of
20 of this Deed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.14.</TD><TD STYLE="text-align: justify">Deleted.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.15.</TD><TD STYLE="text-align: justify">To summon the Trustee to all of its general meetings (whether to annual general meetings or extraordinary
general meetings) of the Company shareholders, and enable the Trustee to attend such meetings, without granting the Trustee the right
to vote in these meetings.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.16.</TD><TD STYLE="text-align: justify">To deliver to the Trustee on the 15<SUP>th</SUP> of each January starting from 2025, a written approval
signed by the senior financial officer, that all of the payments to the Debenture Holders were fully paid on time, and the balance of
the par value of the Debentures in Circulation. In addition, on the said date, inasmuch as the Debentures shall be secured by collaterals,
the Company shall provide the Trustee with an approval and/or opinion which the Trustee shall require in connection with the provisions
of Section 35H(b)(2) of the Law, to its satisfaction.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.17.</TD><TD STYLE="text-align: justify">In addition to the statements or notices which the Company is required to give according to Section 35J(a)
of the Law, to give the Trustee or to its authorized representative (a notice regarding his appointment shall be given by the Trustee
to the Company upon his appointment), no later than fourteen (14) Business Days from the time of the Trustee&rsquo;s request, any information
regarding the Company (including explanations, documents and calculations pertaining to the Company, its business or assets, and information
which the Trustee, at its reasonable discretion, is required for the purpose of protecting the rights of the Debenture Holders, and to
instruct its accountant and legal advisors to do so, as per the Trustee&rsquo;s reasonable request, inasmuch as at the Trustee&rsquo;s
reasonable opinion the information is required for the purpose of applying and exercising the authorities, powers and authorizations of
the Trustee and his proxies in accordance with this Deed, and subject to an undertaking of confidentiality as stated in this Deed. Based
on the Trustee&rsquo;s request, the Company shall notify it in writing whether the given information is considered as inside information,
as this term is defined in the Securities Law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.18.</TD><TD STYLE="text-align: justify">To perform all of the actions required and/or reasonably needed and in accordance with the provisions
of this Deed and any law for validating the exercise of powers, authorities and authorizations of the Trustee and/or of its proxies in
accordance with the provisions of this Deed of Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.19.</TD><TD STYLE="text-align: justify">To list the Debentures for trade in the Stock Exchange and to act so that the Debentures shall continue
to be listed for trade on the Stock Exchange until the date of their final repayment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.20.</TD><TD STYLE="text-align: justify">To notify the Trustee in writing regarding any change to its name or address no later than five Business
Days from the day of the change.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.21.</TD><TD STYLE="text-align: justify">To assist the Trustee in any reasonable manner to fulfill its duties according to law and/or according
to this Deed including examining the performance of the Company&rsquo;s undertakings in full and on time, examining actions and/or transactions
that the Company performed, insofar as this is reasonably required in order to protect the rights of the Debenture Holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.22.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inasmuch
                                            as the Company shall cease being a reporting corporation, as this term is defined in the
                                            Securities Law, or a corporation traded at a stock exchange outside of Israel, as set forth
                                            in the Second or Third Addition to the Securities Law, or becomes a non-reporting corporation
                                            (as defined in the Regulation Codex) the Company shall provide the Trustee with the reports
                                            required by the Regulation Codex<SUP>1</SUP> or any other circular and/or another document
                                            which shall replace it ((hereinabove and hereinafter: the &ldquo;<B>Regulation Codex</B>&rdquo;).
                                            The aforesaid reports will be signed in accordance with the provisions set forth in the Regulation
                                            Codex.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT></TD><TD STYLE="text-align: justify">The Regulation Codex &ndash; Business Management Principles, Volume 5, Part 2 &ndash; Capital,
                                                                                                                                                                          Measurement and Risk Management, Chapter 4 &ndash; Investment Assets Management, published by the Capital Markets, Insurance and
                                                                                                                                                                          Savings Authority at the Ministry of Finance (which appears, as of 9/11/2022 at:
                                                                                                                                                                          https://www.gov.il/BlobFolder/guide/information-entities-codex/he/Codex_Gate5_Part2_Chapter4.pdfas amended from time to time.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.23.</TD><TD STYLE="text-align: justify">The Debentures (Series F) are not rated, and the Company does not undertake to rate the Debentures (Series
F) in the future, including in case the Company shall issue a new series of rated debentures or shall expand an existing series of rated
debentures of the Company. Insofar as the Debentures (Series F) shall be rated by a rating company or by a number of rating companies,
then the Company shall be entitled to cease their rating by any of the rating companies or all of them, at its sole discretion, and without
the Trustee and/or the holders of the Debentures having any claim in this regard. In case of replacing the rating company or terminating
its activity, even in case when the Debentures shall be rated by a number of rating companies, the Company shall publish, within one Business
Day from the day of the change, an Immediate Report regarding the changing of the rating company or stopping its work as stated, as well
as the reasons for changing the rating company or stopping its work. If the rating shall be ceased altogether, the Company shall also
transfer to the Trustee, a written approval, legally executed, specifying the reasons for the stop as stated.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.24.</TD><TD STYLE="text-align: justify">To deliver to the Trustee a copy of any document or any information which the Company has delivered to
the Debenture Holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Any report or information that shall
be published by the Company in the Magna system shall be considered as a report or information or summons, as the case may be, which was
given to the Trustee in accordance with the provisions of this clause. Notwithstanding the aforesaid, at the request of the Trustee, the
Company shall transfer a printed copy of the report or information as mentioned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">It shall be clarified, that the confidentiality
provisions in clause 20 hereinafter shall also apply to information given to the Trustee and/or his authorized representative and/or his
agents, in accordance with the provisions of this clause 6.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt">7.</TD><TD STYLE="text-align: justify"><U>Not Securing the Debentures; Negative Pledge</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.1.</TD><TD STYLE="text-align: justify">The Debentures (Series F) are not secured by any pledge. The status of the Debenture Holders is the status
of unsecured creditors of the Company, with all that this entails.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.2.</TD><TD STYLE="text-align: justify">Except as set forth in clause 7.4 of this Deed of Trust, and without derogating from the provisions of
clause 9.1 of this Deed of Trust, the Company shall be entitled from time to time, to sell, pledge, lease, assign, deliver or transfer
in any other manner its assets in whole or in part, in any manner, in favor of any third party, without the need for the Trustee&rsquo;s
and/or the Debenture Holders&rsquo; consent.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.3.</TD><TD STYLE="text-align: justify">The Debentures (Series F) shall be in equal rank (pari-passu) inter se, without preference rights or priority
over each other.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.4.</TD><TD STYLE="text-align: justify">For as long as the Debentures (Series F) have not yet been fully repaid in any manner, including by way
of a self-purchase and/or early redemption, the Company undertakes not to create a floating charge on all of its assets and rights, existing
and future, in favor of any third party to secure any debt or undertaking and this is as opposed to fixed charges or floating charges
on certain assets or a floating charge on a certain number of assets that the Company may create without the need to receive the consent
of the Debenture Holders or the Trustee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

<!-- Field: Page; Sequence: 15; Value: 1 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Notwithstanding the aforesaid, the
Company shall be entitled to create a floating charge on all of its assets as aforesaid in favor of a third party, in each one of the
following cases:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">(1)</TD><TD STYLE="text-align: justify">A receipt in advance of the consent of the Debenture Holders
(Series F), which shall be adopted in a Special Resolution; or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt; text-align: justify; text-indent: -34.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">The Company shall create, in favor of Holders of Debentures (Series F) together with creating the floating
charge on all of its assets and rights, current and future, in favor of the third party, a floating charge on all of its assets and rights,
current and future, also in favor of the Holders of Debentures (Series F) of the same priority, pari passu, which shall remain in force
up to the removal of the charge which shall be registered in favor of the third party, and this is as long as outstanding Debentures (Series
F) shall exist (namely, as long as they were not fully paid or removed in any manner, including by way of a self-purchase and/or early
redemption); or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">The Company shall make available in favor of the Holders of Debentures (Series F through the Trustee,
together with the creation of the floating charge on its entire assets and rights, current and future, in favor of the third party, an
irrevocable autonomous bank guarantee which shall be issued by bank/s or financial institution/s in Israel, rated at no less than ilAa2
of Midroog or an equivalent rating, at a total equaling the amount guaranteed by the floating charge created in favor of the third party,
or a total constituting the non-paid balance of the debt to Holders of Debentures (Series F), taking into account the amount of the interest
until the date of the final repayment of the Debentures, according to the lower of them at the time of creating the pledge.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">It is clarified that the Company&rsquo;s
undertaking to not create a floating charge shall not apply to any of the following actions and pledges and that the Company has the right,
at any time (subject to the restrictions according to any law and/or any other agreement that the Company is party to), to: (a) pledge
its assets, including its rights, in whole or in part, by any other pledge except for a floating charge on all of its assets and rights,
present and future, including, but not limited to, fixed pledges, including the creation of floating charges on specific assets, one or
more, of the Company with respect to creating these charges (and bank accounts that can be pledged by a floating charge even without a
fixed charge); (b) create a floating charge on all Company assets to guarantee the recycling (or re-recycling) of a loan guaranteed by
a floating charge on all Company assets (and which met upon its creation, one or more of the conditions set forth in sub-clauses (1) to
(3) above), provided that the debt guaranteed by the new pledge as stated shall not exceed the unpaid balance of the debt guaranteed by
the original debt; and (c) pledge on assets or rights purchased (or which shall be purchased) in a way that they were pledged prior to
their purchase.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">It is clarified that the stated in
this sub-clause does not limit the Company in selling its assets and/or its businesses (without detracting from the stated in clause 9.1
of this Deed of Trust and its provisions). It is further clarified, for the avoidance of doubt, that this clause cannot restrict the companies
held by the Company (including subsidiaries and affiliates) from creating any charges, floating or fixed, on their assets, including on
all of their assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company declares that as of the
date of signing this Deed, there is no floating charge in favor of a third party on all of the Company&rsquo;s assets and rights, present
and future and the Company did not undertake to register and/or provide such a charge. As of the date of signing this Deed there are charges
on the assets of the subsidiaries of the Company in the framework of project financing, pledges on deposits in the framework of hedging
transactions, pledges on the rights of the Company by virtue of shareholders&rsquo; loans and capital notes in connection with the pumped
storage project in the Manara Cliff in favor of the financing entities of the project as well as various pledges and assignment of right
on a trust account and certain assets of the Company and of a limited partnership wholly-owned by the Company in connection with Ellomay
Luzon Energy Infrastructures td. (formerly Dori Energy Infrastructure Ltd.), registered in favor of holders of the Company&rsquo;s Debentures
(Series E).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company undertakes that if it shall
create a floating charge on all of its assets and rights, current and future, in accordance with the exceptions set forth above (i.e.,
sub-clauses (1) through (3) above), it shall notify the Trustee on the matter at least 3 Business Days prior to creating the charge, and
shall specify in its notice the clause due to which the Company is entitled to create a pledge as stated and how it will act in connection
with the aforementioned exceptions, i.e., calling a Debenture Holders Meeting, registering a parallel charge, etc. It is clarified that
to the extent that any fixed charges and/or specific charges are registered with respect to the entire assets of the Company, this undertaking
shall lose its effectiveness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">If and insofar as a floating charge
shall be given to the Trustee for the Debenture Holders as a security, as mentioned in this clause above, the following provisions shall
apply:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">(a)</TD><TD STYLE="text-align: justify">The existence of a cause to declare the Debentures immediately
payable and/or the realization of Collaterals, the earlier to occur, is a preliminary condition to realizing a floating charge as mentioned.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt; text-align: justify; text-indent: -0.45in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Trustee shall be entitled to enforce a floating charge before immediate repayment has been declared
for the Debentures, in accordance with Section 35J1 of the Law or subject to adopting a decision of performing realizations in a resolution
that shall be adopted by the Meeting of the Debenture Holders in accordance with the provisions of clause 9.2.4 of the Deed of Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt; text-align: justify; text-indent: -0.45in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Enforcing the floating charge shall be performed in a manner that is expected according to the Trustee&rsquo;s
reasonable assessment to maximize the realization consideration from the floating charge and for this purpose the Trustee shall be entitled,
subject to law, to determine the manner of enforcing this floating charge and the time when the floating charge should be enforced (hereinafter:
the &ldquo;<B>Manner of Enforcing the Collaterals</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt; text-align: justify; text-indent: -0.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Without derogating from any right that
the Trustee has according to any law, the Trustee shall be entitled to receive instructions with respect to the Manner of Enforcing the
Collaterals also by a Special Resolution that shall be adopted in a Meeting, on the agenda of which is the giving of instructions to the
Trustee regarding the Manner of Enforcing the Collaterals. The Meeting of the Debenture Holders as mentioned, shall be entitled to authorize
a representing body of the Debenture Holders for advising the Trustee regarding the Manner of Enforcing the Collaterals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Whenever the Company shall create a
charge as mentioned in this sub-clause in favor of the Debenture Holders, and this is a charge that requires registration in the Registry
of Charges managed at the Registrar of Companies for its perfection or any other registry as shall be required by any law, the charge
shall be considered as legally registered only after the Company has furnished to the Trustee all the following documents, within 7 Business
Days from the registration date of the charge:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">A charge document in favor of the Trustee, in form to the satisfaction of the Trustee, bearing an original
signature by the Company with an electronic approval of the Registrar of Companies, confirming receipt of the document that will bear
a date which is not later than twenty one (21) days after the signature date on the charge document;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.35in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.35in"></P>

<!-- Field: Page; Sequence: 17; Value: 1 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.35in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">A notice of details of mortgages and pledges (Form 10), in form to the satisfaction of the Trustee, signed
with an original &ldquo;received&rdquo; stamp from the office of the Registrar of Companies, which bears a date that is not later than
twenty one (21) days after creating the notice;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.35in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">An original pledge registration certificate from the Registrar of Companies;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.35in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">An extract of the pledges from the Registrar of Companies or any other office or registrar as shall be
required by any law, according to which this charge was registered;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.35in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(5)</TD><TD STYLE="text-align: justify">An affidavit by the Company CEO or a senior financial officer in the Company that the charge does not
contradict or it is not in contradiction to the Company&rsquo;s undertakings to third parties, and that all approvals have been received
by the Company pertaining to the creation of the pledge as stated, all according to the wording that shall be to the satisfaction of the
Trustee at its reasonable discretion, which shall be delivered to the Trustee each year according to his demand;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.35in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(6)</TD><TD STYLE="text-align: justify">An opinion of an external lawyer on behalf of the Company, originally signed, inter alia, with respect
to the nature of the rights of the pledging party in the pledged asset, the manner of the pledge registration, its creditor priority,
it being legal, valid and it being exercisable and enforceable against the pledging party according to the applicable law in Israel, in
the wording that shall be to the satisfaction of the Trustee at its reasonable discretion, which shall be given to the Trustee each year
according to its demand;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.35in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(7)</TD><TD STYLE="text-align: justify">Any additional document required for the purpose of creating and/or registering the pledge by any law,
in any relevant Registry;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.35in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">To the extent that a floating charge
is created on the entire assets and rights, current and future, of the Company in favor of the Debenture Holders and in favor of any third-party
as stated in this clause above, the realization of the charge by the Trustee of the Debentures (Series F) or by the third-party shall
not require the approval of the Trustee for the Debentures (Series F) or the third-party, as the case may be (hereinafter collectively:
the &ldquo;<B>Parties</B>&rdquo;) or of any of the Holders of the Debentures (Series F) or the third-party, as the case may be, or the
delivery of advance notice to the other Parties regarding the intention to act in the said manner. To the extent that the third-party
commences with the procedure for the realization of the charge, the Company will notify the Trustee about the same within two (2) Business
Days after the Company receives information in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">To the extend a floating charge will
be registered for the benefit of the Debenture Holders pari passu with the third party as stated above in this clause, the Company undertakes
to publish within the framework of the first publication of its financial results published after the registration of the charge, the
following data: a. the balance sheet value of all of the Company&rsquo;s assets that are pledged by a fixed pledge and such value of all
of the assets of the Company that are pledged with a floating charge; b. the balance sheet value of all of the non-pledged assets of the
Company; c. the aggregate liabilities of the Company that are backed by pledged assets; and d. the aggregate liabilities of the Company
that are not backed by pledged assets. To the extent that the Company will request the consent of the Debenture Holders for the creation
of the aforementioned charge for the third party only as set forth in this clause above, the Company undertakes to publish the aforementioned
data on the date of publication of the Immediate Report on the convening of the Meeting. In any event of registration of a floating charge
as set out in this clause above for the benefit of the Trustee for the Debenture Holders and following publication of the first financial
results as aforesaid, and for as long as the charge in favor of the Trustee for the Debenture Holders is registered, the Company undertakes
to publish the aforementioned data within the framework of all publication of financial results of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">An office holder (a receiver or any
other office holder appointed for the purpose of realizing the charge) who will be appointed at the request of any of the Parties, may
be appointed as an office holder for all the Parties. The Trustee shall be entitled to join a proceeding that will commence by any of
the other Parties, at his discretion or following a decision adopted in the meeting of the Holders of the Debentures (Series F). The Company
will provide to the Trustee the contact information for each of the Parties for the purpose of delivery of realization notices as said
immediately after receiving the first request of the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.5.</TD><TD STYLE="text-align: justify">Save as provided in clause 7.4 of this Deed, no limitations shall apply to the Company when imposing
different pledges on its assets.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt">8.</TD><TD STYLE="text-align: justify"><U>Early Redemption</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">8.1.</TD><TD STYLE="text-align: justify"><B><U>Early Redemption Initiated by the Stock Exchange</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">If it is decided by the Stock Exchange
to delist the Debentures (Series F) from trade as the value of the series has decreased from the sum that was determined in the Stock
Exchange instructions regarding delisting from trade, the Company shall allow early redemption as mentioned of the series due to the delisting
from trade of the Debentures as mentioned above, and it shall act as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">8.1.1</TD><TD STYLE="text-align: justify">Within 45 days after the decision of the board of directors
of the Stock Exchange regarding delisting as aforementioned, the Company shall notify of an early redemption date in which the Holders
of Debentures may redeem them. The notice of early redemption shall be published in an Immediate Report that shall be sent to the securities
authority and to the Stock Exchange and in two daily and prevalent newspapers in Israel in the Hebrew language and it shall be given
in writing to all the registered Debenture Holders.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">8.1.2</TD><TD STYLE="text-align: justify">The early redemption date shall occur not before 17 days of the date of publishing the notice and no later
than 45 days after this date, however not in a period between the record date for the payment of interest and its actual payment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">8.1.3</TD><TD STYLE="text-align: justify">At the early redemption day, the Company shall redeem the Debentures that the Debenture Holders requested
to redeem. The redemption consideration shall be determined based on the higher of the alternatives set forth in clause 8.2.7 of this
Deed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">8.1.4</TD><TD STYLE="text-align: justify">The determination of an early redemption date as mentioned above cannot harm the redemption rights stipulated
in the Debentures, of any of the Debenture Holders that shall not redeem them at the early redemption date as mentioned above, however
the Debentures shall be delisted from trade on the Stock Exchange and will be subject, inter alia, to the tax implications arising from
this.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">8.1.5</TD><TD STYLE="text-align: justify">The early redemption of Debentures as mentioned above shall not confer upon any of the Holders of Debentures
that shall be redeemed as mentioned the right to the payment of interest for the period after their redemption.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">8.2.</TD><TD STYLE="text-align: justify"><B><U>Early Redemption Initiated by the Company</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company shall be entitled to perform
early redemption, full or partial, of the Debentures (Series F) and this is at its sole discretion commencing on the end of 60 days from
the date on which the Debentures (Series F) were listed for trade, and in this case the following provisions shall apply, all subject
to the instructions of the Israeli Securities Authority and the provisions of the Stock Exchange regulations and the instructions pursuant
thereto, as they shall be at the relevant time:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">8.2.1</TD><TD STYLE="text-align: justify">The frequency of the early redemptions shall not exceed one
redemption per quarter.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">For this matter, &ldquo;quarter&rdquo;
means each of the following periods: January &ndash; March, April &ndash; June, July &ndash; September, and October- December. The minimal
scope of each early redemption shall not be less than 1 million NIS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">Notwithstanding the aforesaid, the
Company shall be entitled to perform an early redemption at a scope which is less than 1 million NIS provided that the frequency of redemptions
shall not exceed one redemption per year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">8.2.2</TD><TD STYLE="text-align: justify">Any amount paid by early redemption by the Company, shall be paid with regards to all Holders of Debentures,
pro-rata according to the nominal value of the held Debentures.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">8.2.3</TD><TD STYLE="text-align: justify">The Company shall deliver to the Trustee, within five (5) Business Days from the day on which a decision
was made by the Company&rsquo;s board of directors regarding the performance of early redemption as stated above, an approval signed by
the senior financial officer in the Company, attaching a calculation, worded to the Trustee&rsquo;s satisfaction, regarding the amount
to be paid by early redemption, as well as the interest accumulated for the stated Principal amount until the performance of the early
redemption. In addition, upon adoption of the resolution of the board of directors of the Company regarding the performance of an early
redemption as mentioned above, the Company shall publish an Immediate Report which shall include, among others, a calculation of the amount
to be paid by early redemption, no less than seventeen (17) days and no more than forty five (45) days before the early redemption date,
and shall give the Trustee a copy thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">If an early redemption is scheduled
in a quarter in which payment of interest is also scheduled, or payment of partial redemption or payment of final redemption, the early
redemption shall be performed at the time that was scheduled for payment as mentioned. Notwithstanding the foregoing, a final redemption
can be performed during a quarter event if interest was paid or a partial redemption was made during the quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">The early redemption date shall not
apply in a period between the record date for the payment of interest for the Debentures and the date of actual payment of interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">The Company shall publish, in the aforementioned
Immediate Report, the sum of the Principal that shall be repaid in the early redemption and the interest that has accumulated for it until
the date of the early redemption in accordance with the provisions in clause 8.2.5 hereinafter. Upon making a partial early redemption,
the Company shall pay the Holders of Debentures (Series F) the interest accumulated for the part paid by partial redemption, and not for
the entire non-paid balance of the Debentures&rsquo; Principal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">8.2.4</TD><TD STYLE="text-align: justify">Early redemption shall not be made to part of the series of Debentures if the last redemption sum shall
be less than NIS 3.2 million.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">8.2.5</TD><TD STYLE="text-align: justify">At the date of a partial early redemption, insofar as shall exist, the Company shall notify in an Immediate
Report of: (1) The rate of the partial redemption in terms the unpaid balance; (2) The rate of the partial redemption in terms of the
original series; (3) The interest rate in partial redemption of the redeemed part; (4) The interest rate that shall be paid in partial
redemption calculated regarding the unpaid balance; (5) Update of the rate of the partial redemptions remaining, in terms of the original
series; (6) The record date for entitlement to receive early redemption of the Principal of a Debentures that shall be six (6) days before
the date scheduled for early redemption (it is clarified that if the record date for entitlement to receive partial redemption shall occur
in a quarter during which there is the payment of interest, the record date for entitlement to receive partial redemptions shall occur
on the record date for receiving the payment of interest that shall be paid during that quarter).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">8.2.6</TD><TD STYLE="text-align: justify">Prior to making an early redemption as stated in this clause, the Company shall give the Trustee an approval
signed by a senior officer in the Company, confirming its meeting (or its failure to meet) the financial standards set forth in Appendix
6.2 of this Deed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">8.2.7</TD><TD STYLE="text-align: justify">The sum that shall be paid to the Debenture Holders in the event of early redemption shall be the highest
sum out of the following: (1) the market value of the balance of the Debentures in Circulation, which shall be determined according to
the average close price of the Debentures in the thirty (30) Trading Days prior to the date the resolution of the board of directors was
adopted regarding the performance of early redemption; (2) the undertaking value of the Debentures in Circulation that are subject to
early redemption, in other words Principal plus interest (including interest in arrears inasmuch as there shall be any), up to the date
of the actual early redemption; (3) the balance of cash flow of the Debentures (Series F) that are subject to early redemption (Principal
plus interest in the rate on the date of notice of the early repayment and interest in arrears inasmuch as there shall be any) capitalized
according to the Government Debentures Yield (as defined below) plus an annual interest rate of 1.75%. Capitalization of the Debentures
(Series F) that are subject to early redemption shall be calculated commencing from the early redemption date up to the last redemption
date that was determined with respect to the Debentures (Series F) that are subject to early redemption.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">For this matter: &ldquo;Government
Debenture Yield&rdquo; means the weighted average return (gross) for redemption, in a period of seven Business Days, that ends two Business
Days prior to the date of notice of early redemption, of two series of NIS governmental debentures that are not linked to the index with
an average duration closest to the average duration of the Debentures (Series F) at the relevant time, i.e., one series with the closest
duration higher than the duration of the Debentures (Series F) at the relevant time, and one series with the closest duration lower than
the duration of the Debentures (Series F) at the relevant time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">For example: if the average duration
of government debenture A is four (4) years, the average duration of government debenture B is two (2) years and the average duration
of the balance of cash flow for the Debentures (series F) up for early repayment (Principal with the addition of interest) is three and
a half (3.5) years, the weighted average yield of the government debentures will be calculated as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">4x + 2(1-x) = 3.5</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">Where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">x &ndash; weight of the yield of government
debenture A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">(1-x) &ndash; weight of the yield of
government debenture B</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">According to the calculation in the
example specified above, the annual yield of government debenture A will be weighted at the rate of seventy five percent (75%) from the
&ldquo;yield&rdquo; and the annual yield of government debenture B will be weighted at a rate of twenty five percent (25%) of the &ldquo;yield&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">8.2.8</TD><TD STYLE="text-align: justify">The early redemption of the Debentures as mentioned above shall not confer upon a Holder of Debentures
that shall be redeemed as mentioned, the right to receive interest for the period after the redemption date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">8.2.9</TD><TD STYLE="text-align: justify">In the event of payment of additional interest as a result of the early redemption, the additional interest
will be paid only on the par value that was redeemed in the early redemption.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -33.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt">9.</TD><TD STYLE="text-align: justify"><U>Right for Immediate Repayment and/or Realization of Collaterals</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">9.1.</TD><TD STYLE="text-align: justify"><B>Upon the occurrence of one or more of the causes set forth
hereinafter and so long as either of them is occurring, the Trustee and the Holders of Debentures shall be entitled to put the balance
of the amount due to the Holders in accordance with the Debentures for immediate repayment, or to realize collaterals (to the extent
will be provided) for guaranteeing the Company&rsquo;s undertakings to the Holders of Debentures, and the provisions of clause 9.2 of
this Deed hereafter shall apply, as the case may be:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.9pt; text-align: justify; text-indent: -21.55pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.1</TD><TD STYLE="text-align: justify">If a material worsening has occurred in the Company&rsquo;s business as compared to its state at the issuance
date, and there is a real concern that the Company will not be able to repay the Debentures on time.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.2</TD><TD STYLE="text-align: justify">If the Company has not repaid by of the payments it owes in accordance with The Debentures or in accordance
with this Deed, however it shall be possible to declare the Debentures (Series F) immediately repayable due to this, only if the breach
was not amended by the end of a period of five (5) Business Days after the date of breach.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in"></P>

<!-- Field: Page; Sequence: 22; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.3</TD><TD STYLE="text-align: justify">If the Company did not publish a financial statement which it is required to publish according to any
law or according to the provisions of this Deed, within 30 days after the last date on which it is obligated publish it or at such time
when the extension for publishing financial statements provided to the Company by a competent authority, whichever is later.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.4</TD><TD STYLE="text-align: justify">If the Debentures (Series F) have been delisted from trade on the Stock Exchange.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.5</TD><TD STYLE="text-align: justify">If a motion was filed for receivership or to appoint a receiver (temporary or permanent) or any other
motion with a similar or identical consequence in accordance with the provisions of the Insolvency Law, on all or most of the Company&rsquo;s
assets, or if an order shall be given to appoint a temporary receiver, temporary trustee (as such term is defined in the Insolvency Law),
or any other office holder with similar authorities appointed in accordance with the provisions of the Insolvency Law, for a Materia Asset
&ndash; which was not dismissed or cancelled within forty five (45) days after they were filed or granted, respectively; or if an order
was given to appoint a permanent receiver, trustee (in accordance with the Insolvency Law) or any other office holder with similar authorities
appointed in accordance with the Insolvency Law on a material asset.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">Notwithstanding the aforesaid, the
Company shall not be given any cure period with respect to the motions or orders that were filed or granted, respectively, by the Company
or with its consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">For this matter, &ldquo;<B>most of
the Company assets</B>&rdquo; &ndash;assets with a balance sheet value which exceeds 50% of the total consolidated assets of the Company,
in accordance with its recent consolidated financial statements or its recently published consolidated financial results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.6</TD><TD STYLE="text-align: justify">Upon the occurrence of one of the following events:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">9.1.6.1</TD><TD STYLE="text-align: justify">In the event the Company files an application for an order to commence proceedings, as defined in the
Insolvency Law, or any other similar proceeding in accordance with the provisions set forth in the Insolvency Law, or in the event the
Company files an application for a settlement or an arrangement with the creditors of the Company, pursuant to the provisions of Section
350 of the Companies Law, or in accordance with the provisions set forth in the Insolvency Law (with the exception of: (1) for the purpose
of merging with another company, and these are not prohibited in accordance with the terms set forth in this Deed and provided that the
Trustee received the approval of the Board of Directors of the Company, no less than ten Business Days prior to the merger date, stating
that the surviving entity assumed the entire undertakings towards the Debenture Holders and there is no reasonable concern that as a result
of the merger the surviving company will not be capable of fulfilling its entire undertakings towards the Debenture Holders in accordance
with the Debentures and this Deed on time, and the Trustee will not be required to verify the content of the said confirmation and/or
a change in the structure of the Company (including split) that are not prohibited in accordance with the provisions set forth in this
Deed and (2) making arrangements between the Company and its shareholders that are not prohibited under the terms set forth in this Deed
and that do not have an effect on the ability of the Company to repay the Debentures), or in the event such an order as said is issued
against the Company or in the event the Company offers to its creditors a settlement or an arrangement in another manner as said, as a
result of the inability of the Company to fulfill its undertakings timely, or in the event the Company commenced a similar proceeding
or a similar proceeding commence against the Company in accordance with the relevant law applicable to the Company. For the purpose of
this clause, such applications as said that were filed by any third-party with the approval of the Company shall be deemed as applications
that were filed by the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 130.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 130.5pt; text-align: justify; text-indent: -0.5in"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 130.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">9.1.6.2</TD><TD STYLE="text-align: justify">In the event an application pursuant to the Insolvency Law or an application pursuant to Section 350 of
the Companies Law is filed against the Company (without obtaining its approval) or in the event the Company commenced a similar proceeding
or a similar proceeding commenced against the Company in accordance with the relevant law applicable to the Company, and that were not
dismissed or canceled within forty-five (45) days as of the date of their filing.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 130.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">9.1.6.3</TD><TD STYLE="text-align: justify">It is clarified that the purchase of the Debentures (Series F) by the Company during the trading in the
Stock Exchange or outside the Stock Exchange shall not be deemed as an arrangement with creditors for the purpose of this clause.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 130.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">9.1.7</TD><TD STYLE="text-align: justify">If a foreclosure shall be imposed on a Material Asset, or if
any action shall be performed of execution against any such Material Asset, or in the event a charge against a Material Asset is realized;
and the foreclosure was note removed, or the action or the realization was not cancelled, as the case may be, within 45 days after they
were imposed or performed, as the case may be.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">Notwithstanding the aforesaid, the
Company shall not be given any cure period with respect to motions or orders filed or given, respectively, by the Company or with its
consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.8</TD><TD STYLE="text-align: justify">If the Company&rsquo;s main activity, by itself or via corporations in its control or via held corporations,
shall cease to be in the field of energy and energy infrastructure (the &ldquo;<B>Area of Activity</B>&rdquo;). It is clarified, that
the Company&rsquo;s activity in other areas of activity in addition to the Area of Activity shall not be considered as stopping the activity
as stated in this clause, insofar as the Company&rsquo;s assets, which are not current assets, which belong or are related to the Area
of Activity (as it is defined above), shall constitute at least 70% of the Company&rsquo;s assets other than its current assets, all based
on the last financial statements of the Company that were published.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.9</TD><TD STYLE="text-align: justify">If the Company shall adopt a decision to liquidate (except for liquidation as a result of a merger with
another company as mentioned in clause 9.1.18 of this Deed) or if a final permanent liquidation order shall be given with respect to the
Company by court or any other order with a similar or identical effect in accordance with the Insolvency Law, or a permanent liquidator
shall be appointed to it or any other competent official with similar or identical authorities in accordance with the Insolvency Law with
respect to the Company will be appointed by the court, or in the event a trustee, within the meaning of this term in the Insolvency Law,
was appointed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in"></P>

<!-- Field: Page; Sequence: 24; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.10</TD><TD STYLE="text-align: justify">If a temporary liquidation order shall be given by the court, or any other order with a similar or identical
effect in accordance with the provisions of the Insolvency Law, or a temporary liquidator shall be appointed for the Company, or any other
authorized official with similar or identical authorities in accordance with the Insolvency Law, or any other office holder is appointed
in accordance with the law, or if any judicial decision of a similar nature shall be granted, or in the event a temporary trustee is appointed,
within the meaning of this term in the Insolvency Law, and the appointment, the order or the decision as mentioned were not dismissed
or cancelled within forty five (45) days after the day on which they were given or from the date the decision was granted, respectively.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">Notwithstanding the aforesaid, the
Company shall not be given any cure period with respect to motions or orders that were filed or given, respectively, by the Company or
with its consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.11</TD><TD STYLE="text-align: justify">If the Company ceased or notified of its intention to cease conducting its business as this shall be from
time to time, or if the Company stopped or notified of its intention to stop its payments.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.12</TD><TD STYLE="text-align: justify">If the Company is requested to pay by immediate repayment a Material Debt, or a Material Series of Debentures,
and the demand for immediate repayment as said was not removed and/or the Company did not repay the Material Debt or the said series of
debentures that the Company was required to repay, as the case may be, within 30 days of the date these were called for immediate repayment,
or in the event the Company is required to pay in immediate repayment a series of debentures of the Company that are traded in any stock
exchange, including in the TACT-Institutional system without a cure period.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.13</TD><TD STYLE="text-align: justify">Not fulfilling one or more of the financial covenants in Appendix 6.2 of this Deed of Trust at the end
of the Review Period (as defined in Appendix 6.2 of the Deed of Trust), provided that the Company was not given an extension to cure as
mentioned in clause 28 of the Deed of Trust or in clause 19.2 of the Deed of Trust or, a waiver was not given to the Company for the breach
as mentioned in clause 28 of the Deed of Trust. It is clarified that the right or the exercise of such a right shall be without prejudice
to the duty of the Company to pay the additional interest for the breach as stated in clause 4.3 of the terms set out on the back of the
page.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.14</TD><TD STYLE="text-align: justify">If the Company shall perform a distribution (as it is defined in the Companies Law), which does not meet
any of the provisions pertaining to a distribution as stated in Appendix 6.2 of this Deed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.15</TD><TD STYLE="text-align: justify">There is a real concern that the Company shall not meet its material undertakings towards the Debenture
Holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.16</TD><TD STYLE="text-align: justify">If the Company shall breach the terms of the Debentures or the Deed of Trust by a fundamental breach or
if it will not perform any of its material undertakings within their framework, and the breach was not cured within 14 days after receiving
a notice regarding the breach, during which the Company shall act to cure it.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in"></P>

<!-- Field: Page; Sequence: 25; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.17</TD><TD STYLE="text-align: justify">If a material representation of the representations of the Company in the Debentures or in the Deed of
Trust is discovered to be incorrect or not complete, and in the event that this is a breach that can be cured &ndash; the breach was not
cured within 14 days after receiving a notice regarding the breach, during which the Company shall act to cure it.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.18</TD><TD STYLE="text-align: justify">If a Merger was performed without receiving a prior approval of the Holders of the Debentures (Series
F) by Ordinary Resolution, unless the surviving entity declared, towards the Holders of the Debenture (Series F), including via the Trustee
or within the framework of the Immediate Report concerning the merger, at least ten (10) Business Days before the merger date that the
surviving entity has taken upon itself all of the undertakings towards Holders of Debentures and that there is no reasonable concern that
as a result of such merger the surviving entity would not be able to fulfill its undertakings towards the Holders of the Debentures (Series
F). It is clarified that a merger between the consolidated companies in the financial statements of the Company or between such companies
and the Company (in the event the Company is the surviving company) shall not be deemed as a &ldquo;merger&rdquo; for the purpose of this
Deed, and in such circumstances as said no declaration of the Company or the surviving company or a prior approval of the Debenture Holders
shall be required as stated above. It is clarified that a merger, to the extent performed, shall not derogate from the undertakings of
the Company in accordance with clause 7.4 of this Deed not to take a floating charge on its entire assets and rights, including following
the merger.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.19</TD><TD STYLE="text-align: justify">If the Company breached its undertaking not to create floating charges as set forth in clause 7.4 of this
Deed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.20</TD><TD STYLE="text-align: justify">If a Sale of the Majority of the Company&rsquo;s Assets was made, and the prior approval of the Debenture
Holders (Series F) in an Ordinary Resolution was not granted. If a Sale of the Majority of the Company&rsquo;s Assets was performed as
set forth in this clause, the Company shall submit an Immediate Report of this.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">For this matter, &ldquo;<B>Sale of
the Majority of the Company&rsquo;s Assets</B>&rdquo; &ndash; as this term is defined hereinafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.21</TD><TD STYLE="text-align: justify">If the Stock Exchange suspended the trade of the Debentures (Series F), except for a suspension due to
a cause of the creation of vagueness, as this cause is defined in the fourth part of the Stock Exchange bylaws, and the suspension was
not cancelled within 60 days, and except for a general suspension that is not directed specifically at the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.22</TD><TD STYLE="text-align: justify">In the event the Company shall perform an expansion of the Debenture series (Series F) in a manner which
does not meet the Company&rsquo;s undertakings with regards to a series expansion in accordance with clause 5.2 and Appendix 5.2 of this
Deed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.23</TD><TD STYLE="text-align: justify">In the event that following a transaction (that was not approved by the meeting of the Debenture Holders
(Series F) in an Ordinary Resolution) the rate of holding of the group of shareholders that includes at least one of Messrs. Shlomo Nehama
and Ran Fridrich will be lower than the rate of holders of another shareholder that holds at least 25% of the issued and paid-up share
capital of the Company (with neutralization of dormant shares), and all for a consecutive period that will exceed three months (hereinafter:
the &ldquo;<B>Transfer of Control</B>&rdquo;). In this clause: (a) &ldquo;<B>holding</B>&rdquo; &ndash; including the &ldquo;h<B>olding
of securities or their purchase together with another</B>&rdquo; within the meaning of these terms in the Securities Law; (b) &ldquo;<B>transaction</B>&rdquo;
&ndash; a transaction in which the holdings of Messrs. Shlomo Nehama and Ran Fridrich, directly or indirectly, are transferred.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in"></P>

<!-- Field: Page; Sequence: 26; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">For the avoidance of doubt, a transaction
as stated which is the result of a change in legislation and/or regulatory requirement and/or inheritance (including a will), when for
the matter of changes in legislation and regulation &ndash; provided that the Company acts to the best of its efforts to avoid a result
as stated shall not be deemed as Transfer of Control. If the conditions set forth above in this clause are fulfilled in the aggregate,
the Company shall submit an Immediate Report of this.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.24</TD><TD STYLE="text-align: justify">If the Company shall stop being a reporting corporation, as this term is defined in the Securities Law,
or a corporation traded in a stock exchange outside of Israel, as set forth in the Second or Third Addition to the Securities Law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.25</TD><TD STYLE="text-align: justify">If a &ldquo;going concern note&rdquo; is registered in the Company&rsquo;s financial statements for two
consecutive quarters.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">9.1.26</TD><TD STYLE="text-align: justify">If the Company breaches its undertakings in connection with controlling shareholders transactions, as
stated in Appendix 6.2 of this Deed, and the breach was not cured within 14 days, during which the Company acts for the purpose of curing
the breach.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">For the avoidance of doubt, it is hereby
emphasized and clarified that any application of the Company to the holders of any series of debentures of the Company, in whole or in
part, in an offer to purchase from them the debentures that they hold for cash or by way of the issuance of substitute debentures shall
not give rise to grounds for immediate repayment of the Debentures in accordance with this clause 9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">For the avoidance of doubt, it is clarified
that the right to declare the Debentures immediately repayable as mentioned above and/or declaring the Debentures immediately repayable
and/or for realizing pledges cannot derogate from or injure any other or additional remedy that the Debenture Holders (Series F) have
or that the Trustee has according to the terms of the Debentures and the provisions of this Deed or according to the law, and failure
to declare the debt immediately repayable upon the occurrence of any of the cases set forth in clause 9.1 of the Deed, shall not constitute
any waiver whatsoever of the rights of the Holders of Debentures or the Trustee as stated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">In this clause:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50.85pt; text-align: justify; text-indent: 7.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Material Asset</B>&rdquo;
means: an asset or several assets cumulatively, whose aggregate book value exceeds 37% of the total consolidated assets of the Company
according to its last consolidated financial statements or its last consolidated financial results that were published.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Financial Statement</B>&rdquo;
means: the consolidated financial statements or consolidated financial results of the Company that were published before the time of the
event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Material Debt</B>&rdquo;
or a &ldquo;<B>Material Series of Debentures</B>&rdquo; shall mean: a debt or a number of cumulative debts of the Company whose balance,
or a series of debentures that is not traded on any trading platform, whose balance of liability value is in an amount constituting 18%
of the Total Adjusted Balance Sheet of the Company, according to the financial statements of the Company, or a debt or a number of cumulative
debts of a consolidated company whose balance, or a series of debentures of a consolidated company, whether or not traded in any stock
exchange, whose balance of liability value are in an amount constituting 35% of the Total Adjusted Balance Sheet of the Company. It is
clarified that a debt or a series of material debentures, of the Company or of the consolidated company, that are a non-recourse debt,
i.e., a debt without a right of recourse towards the Company, or a project debt, shall not be deemed as a debt or as a series of material
debentures, as the case may be. For the purpose of this definition, the term &ldquo;<B>Total Adjusted Balance Sheet of the Company</B>&rdquo;
shall mean the total balance sheet of the Company, net of a debt or a Material Series of Debentures, of the Company or the consolidated
company, that are non-recourse debt, i.e., a debt without a right of recourse to the Company, or a project debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&ldquo;<B>Sale of the Majority of the
Company&rsquo;s Assets</B>&rdquo; means the sale of an asset or a combination of assets of the Company or of the consolidated companies
in its financial statements to a third-party, over a period of 18 consecutive months, with a value, after deduction of assets purchased
by the Company or by the consolidated companies in its financial statements during the same period of 18 consecutive months, which exceed
the rate of 50% of the consolidated Company assets, according to its last financial statements published. Notwithstanding the foregoing,
the sale of assets at a rate greater than 50% as said, shall not be deemed as a breach, provided that in accordance with the notice of
the Company the Company undertakes that the consideration is intended for the purchase of an asset (other than an asset of consolidated
companies) or an additional investment, including an investment in consolidated companies, and all within the sphere of activity of the
Company as stated in clause 9.1.8 above, and that the said purchase or investment as said will be completed during a period that will
not exceed 36 months from the date of the Company&rsquo;s notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">9.2.</TD><TD STYLE="text-align: justify"><B><U>Upon the occurrence of any of the events set forth in clause 9.1 of this Deed and in accordance
with the provisions included therein and its sub-clauses</U></B>:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">9.2.1</TD><TD STYLE="text-align: justify">The Trustee and any of the Debenture Holders (Series F) shall
be entitled to call for immediate repayment the entire outstanding balance of the Debentures and/or realize Collaterals (to the extent
provided); it shall be clarified that a decision as stated by a Holder of the Debenture is subject to adopting a resolution in the Meeting
of Holders, as set forth in clause 9.2.4 hereinafter.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">9.2.2</TD><TD STYLE="text-align: justify">Upon the occurrence of any of the events in clause 9.1 above the Trustee, before he uses his authority
to declare immediate repayment or to realize the Collaterals (to the extent provided), shall be obligated to convene a Meeting of the
Debenture Holders, on the agenda of which shall be a resolution regarding the declaration of immediate repayment of all unpaid balance
of the Debentures (Series F) and/or realizing collaterals (to the extent provided), due to the occurrence of any of the events set forth
in clause 9.1 of this Deed, and receive its instructions. The time of convening a Meeting as stated shall be at the end of 21 days from
the day on which it was summoned (or a shorter period of time in accordance with the provisions of clause 9.2.6 hereinafter).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">9.2.3</TD><TD STYLE="text-align: justify">If a reasonable period was determined in clause 9.1 above or in a resolution of a Holders&rsquo; meeting,
as the case may be, with respect to a certain clause, in which the Company is entitled to perform an action or to adopt a decision which
as a result the cause for declaring immediate repayment or realization of the Collaterals (to the extent provided), is dropped, the Trustees
or the Debenture Holders are entitled to declare the Debentures immediately payable and/or to realize collaterals according to these clauses
only if the period that was determined as mentioned has passed and the cause was not dropped; however, the Trustee is entitled to shorten
the period that was determined as mentioned if it thought that it will materially harm the rights of the Debenture Holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in"></P>

<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">9.2.4</TD><TD STYLE="text-align: justify">The resolution of the Debenture Holders to declare the Debenture immediately payable and/or to realize
the Collaterals (to the extent provided), shall be adopted in a Meeting of the Debenture Holders in which Holders of at least fifty percent
(50%) of the balance of the nominal value of the Debentures (Series F) were present, by a majority of the Debenture Holders of the balance
of the nominal value of the Debentures that is represented or by such a majority in a deferred Debenture Holders Meeting in which the
Holders of at least twenty percent (20%) of the aforementioned balance were present.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">9.2.5</TD><TD STYLE="text-align: justify">In case, until the time of convening the Meeting, any of the events set forth in clause 9.1 of this Deed
has not been revoked or removed, and a resolution in the Debenture Holders&rsquo; Meeting was adopted as stated in clause 9.2.4 of the
Deed, the Trustee shall be obligated, as soon as possible, to declare immediately repayable all unpaid balance of the Debentures (Series
F) and/or to realize Collaterals (to the extent provided).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">9.2.6</TD><TD STYLE="text-align: justify">Despite the stated in this clause 9.2, the Trustee or the Holders shall not declare the Debentures immediately
repayable and shall not realize collaterals, unless it is after they have given the Company a written notice, 15 days in advance before
declaring the Debentures (Series F) for immediate repayment or realizing Collaterals (to the extent provided) (hereinafter: &ldquo;<B>the
Notice Period</B>&rdquo;), regarding their intention to do so; the Trustee is entitled, at its discretion, to shorten the 21 day period
stated in clause 9.2.2 of this Deed and/or to not give any notice as stated in this clause 9.2.6, in case the Trustee is of the opinion
that deferring the convening of the Meeting jeopardizes the rights of the Debenture Holders or if there is reasonable concern that giving
the notice shall damage the possibility of declaring the Debentures for immediate repayment and/or realizing Collaterals (to the extent
provided). A copy of the notice of convening a Meeting of Debenture Holders that will be sent by the Trustee immediately with or for the
purpose of publishing the notice will be deemed as a prior written notice to the Company of intentions to act as aforementioned. Publishing
the notice of convening the Meeting in the MAGNA system will be deemed such a notice to the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">9.2.7</TD><TD STYLE="text-align: justify">The sending of a notice to the Company of the declaration of immediate repayment of the Debentures and/or
realizing Collaterals (to the extent provided), as stated in clause 9.2.6 can be done also by way of publishing a notice of the decision
of the Meeting or the decision of the Trustee in accordance with the provisions of clause 27 hereafter and it shall constitute a declaration
of the Debentures immediately payable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">9.2.8</TD><TD STYLE="text-align: justify">In the event that the Debentures (Series F) were declared immediately payable according to the provisions
of clause 9, the Company undertakes:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in; text-align: left">9.2.8.1</TD><TD STYLE="text-align: justify">To pay the Debenture Holders and the Trustee any sums due to
them and/or that shall be due to them according to the terms of the Deed of Trust, whether the date of the obligation has arrived or
not (&lsquo;acceleration&rsquo;), and this is within 7 days after the notice date as mentioned in clause 9.2.6 above; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 130.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 130.5pt; text-align: justify; text-indent: -0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">9.2.8.2</TD><TD STYLE="text-align: justify">To deliver to the Trustee, as per its reasonable request, any affidavit or declarations and/or to sign
any document and/or to perform and/or to cause the performance of the actions necessary and/or required in accordance with any law for
giving effect to the exercise of authorities, the powers and the permissions of the Trustee and/or his attorneys that are required in
order to enforce upon the Company its undertaking as mentioned in the Deed of Trust and for realizing the collaterals, inasmuch as any
have been given.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 130.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">9.2.9</TD><TD STYLE="text-align: justify">For the purposes of this clause 9 &ndash; a written notice to the Company signed by the Trustee that confirms
that the action required by it in the framework of its powers, is a reasonable action, shall constitute prima facie evidence of this.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">9.2.10</TD><TD STYLE="text-align: justify">The Trustee shall notify the Debenture Holders regarding the occurrence of an event which constitutes
a cause for immediate repayment, immediately after actually becoming informed of it. A notice as stated shall be published in accordance
with the provisions of clause 27 hereinafter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">9.2.11</TD><TD STYLE="text-align: justify">The stated in this clause does not harm or condition the rights of the Trustee or the Holders of Debentures
(Series F) in accordance with the provisions of Article 35I1 of the Securities Law or in accordance with the provisions of the law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">9.2.12</TD><TD STYLE="text-align: justify">Notwithstanding the provisions of this clause 9.2, in case the Company requests the Trustee in writing
to appoint an urgent representing body, for the relevant causes for immediate repayment as stated in clause 19 hereunder, it is mandatory
to act in accordance with the provisions set forth in clause 19 of the Deed of Trust, and these shall take precedence over all of the
other provisions set forth in this Deed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">9.3.</TD><TD STYLE="text-align: justify">After declaring the Debentures immediately payable in accordance with the provisions of clause 9.1 of
the Deed, the Trustee and/or the Debenture Holders shall be entitled to immediately take all steps that they shall see fit. Inter alia,
the Trustee and/or the Debenture Holders shall be entitled to enforce and to realize the Collaterals (to the extent provided, in whole
or in part) that were given to secure the Company&rsquo;s undertakings to the Debenture Holders and to the Trustee according to this Deed.
The Trustee shall be entitled to act in any manner that it shall see fit and effective, including in accordance with the relevant law
in the relevant territory for each Collateral and within such actions it shall be entitled to appoint by itself and/or by the court, a
trustee, receiver or manager on assets that were provided as Collateral, in whole or in part, to the extent assets were provided as Collateral.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">10.</TD><TD STYLE="text-align: justify"><U>Claims and Proceedings by the Trustee</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">10.1.</TD><TD STYLE="text-align: justify">In addition to any provision in this Deed and as a right and
independent authority (however except for the calling for immediate repayment, and in such circumstances the provisions of clause 9 above
shall apply), the Trustee is entitled, at its discretion, and will be obligated to do so by an Ordinary Resolution, and without giving
notice to the Company, to take all of those proceedings, including legal proceedings and motions to receive instructions as it shall
see fit and subject to the provisions of any law, for enforcing the Company&rsquo;s undertakings according to this Deed of Trust, realizing
Collaterals (to the extent provided), and/or rights of Debenture Holders and protecting their rights according to this Deed of Trust.
The Trustee shall be entitled to initiate legal proceedings and/or others even if the Debentures were not declared immediately payable
and all for realizing Collaterals (to the extent provided), and/or for protecting rights of Debenture Holders and the Trustee and subject
to any law. The Trustee is entitled, at its sole discretion and without the need for giving notice, to approach the competent court and
submit a motion to receive instructions in any matter pursuant to and/or connected to this Deed of Trust also before the Debentures shall
be declared immediately payable, including for giving any order regarding the trust matters. It shall be clarified, that the right to
declare immediate repayment and/or realizing the Collaterals (to the extent provided), shall only arise in accordance with the provisions
of clause 9 of this Deed and not this clause 10.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">10.2.</TD><TD STYLE="text-align: justify">The Trustee shall be obligated to act as stated in clause 10.1 above if required to do so by an Ordinary
Resolution, unless it has seen that under the circumstances it shall not be just and/or reasonable to do so, and it has approached the
appropriate court in a request to receive instructions on the matter at the first possible opportunity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">10.3.</TD><TD STYLE="text-align: justify">The Trustee is entitled, prior to taking any legal proceedings whatsoever, to convene a Debenture Holders
Meeting so that it decides, in an Ordinary Resolution, which proceedings to take in order to realize their rights in accordance with this
Deed. The Company waives any claim towards the Trustee and/or Debenture Holders, regarding damage which might be caused and/or which was
caused to it due to summoning the Holders Meeting. In addition, the Trustee shall be entitled to re-convene Debenture Holders Meetings
for the purpose of receiving instructions pertaining to conducting the proceedings as stated. The Trustee&rsquo;s action shall be performed
in such cases without delay and at the first opportunity. For the avoidance of doubt, it shall be clarified that the Trustee is not entitled
to delay the performance of declaring for immediate repayment and/or realizing Collaterals (to the extent provided), which the Meeting
of the Holders has decided in accordance with clause 9 of this Deed, unless the event for which the resolution was adopted to declare
immediate repayment was revoked or removed. It is clarified that notwithstanding the provisions of this clause 10, the Trustee shall file
a request for the liquidation of the Company only after an Extraordinary Resolution was adopted.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">10.4.</TD><TD STYLE="text-align: justify">Subject to the provisions of this Deed of Trust, the Trustee is entitled but not required to convene a
Meeting at any time, in order to discuss and/or to receive its instructions in any matter regarding this Deed by way of an Ordinary Resolution.
For the avoidance of doubt, it shall be clarified, that the Trustee is not entitled to delay the performance of declaring for immediate
repayment which the Debenture Holders Meeting has decided in accordance with clause 9.1 of this Deed, other than if the event for which
the resolution was made to declare immediate repayment was revoked or removed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">10.5.</TD><TD STYLE="text-align: justify">Subject to the provisions of this Deed of Trust, at any time the Trustee shall be required, in accordance
with the terms of this Deed, to perform any action whatsoever, including initiating proceedings or filing claims at the request of the
Debenture Holders as stated in this clause, by adopting an Ordinary Resolution, the Trustee is entitled to avoid taking any action as
stated until instructions are received from the Debenture Holders Meeting and/or instructions from the court which the Trustee has approached,
at its discretion, in a request for instructions in case it believed that instructions as stated are required. For the avoidance of doubt
it shall be clarified, that the Trustee is not entitled to delay declaring the Debentures immediately payable or realizing Collaterals
which have been given (to the extent provided) which the Meeting of the Holders decided according to clause 9 of this Deed, unless the
event for which the resolution for immediate repayment was made has been revoked or removed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">11.</TD><TD STYLE="text-align: justify"><U>Order of Priority of Creditors; Dividing the Intakes</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Any intake which shall be received
by the Trustee, except for its fees and the payment of any debt towards it, in any manner, including but not only as a result of declaring
the Debentures immediately payable and/or as a result of proceedings that it shall institute, if it shall institute proceedings, inter
alia, against the Company, shall be held by it in trust and shall serve for the purposes according to the order of priority of creditors
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>First</B> &ndash; for the payment
of any debt for the fees of the Trustee and its reasonable expenses; <B>second</B> &ndash; for the payment of any other debt according
to undertakings to indemnify (as this term is defined in clause 26 hereafter); <B>third</B> &ndash; for paying the Debenture Holders who
paid payments according to clause 26 hereafter; <B>fourth</B> &ndash; for paying the Debenture Holders interest in arrears and default
in interest in arrears due to them according to the terms of the Debentures, pari passu and in a proportionate manner to the sum of the
interest that is delayed that is due to each of them without preference or right of priority regarding any of them; <B>fifth</B> &ndash;
for paying the Debenture Holders for the default in paying the Principal, due to them in accordance with the terms of the Debentures,
pari passu and relative to the amount of the Principal in delay which is due to each of them, without preference or right of precedence
regarding either of them; <B>sixth &ndash; </B>for paying the Debenture Holders the amounts of the interest that are due to them according
to the Debentures held by them pari passu, the payment date of which has not yet arrived and in a proportionate manner to the sums due
to them, without any preference with respect to priority in time of issuing the Debentures by the Company or in any other manner; <B>seventh</B>
&ndash; for paying the Debenture Holders the debt of amounts of the Principal which are due to them in accordance with the Debentures
which are held by them pari passu, which payment date has not yet arrived and relative to the amounts which are due to them, without any
preference pertaining to the precedence in time of issuing the Debentures by the Company or otherwise; and <B>eighth</B> &ndash; the surplus,
if such shall exist, the Trustee shall pay the Company or to its substitutes, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Withholding tax shall be deducted
from the payments to the Debenture Holders, insofar as there is a duty to deduct it according to any law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">12.</TD><TD STYLE="text-align: justify"><U>Authority to Demand Financing</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Debenture Holders Meeting is entitled
to determine in a resolution in a special majority that the Company shall transfer to the Trustee a sum (or part of it) that is designed
for a certain payment on account of interest and afterwards certain payment on account of the principal for the Debentures for the finance
required for matters that were determined in the Meeting as mentioned (the &ldquo;<B>Finance Sum</B>&rdquo;), and provided that such resolution
was adopted before the record date determining the entitlement of the Debenture Holders to receive the Principal or interest as mentioned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">If a resolution of the Meeting was
adopted as mentioned above, the following provisions shall apply, unless the Company shall transfer to the Trustee, before the record
date as mentioned above, a sum equal to the Finance Sum and this not out of the specific payment as mentioned above:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">12.1.</TD><TD STYLE="text-align: justify">The Company shall transfer to the Trustee the Finance Sum at the time determined in this Deed for paying
the Principal or the interest as mentioned above.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">12.2.</TD><TD STYLE="text-align: justify">The amount of the certain payment as mentioned above (interest followed by principal) shall be reduced
by deducting the Finance Sum, and in the event of an interest payment, the rate of the specific payment shall also be reduced respectively.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">12.3.</TD><TD STYLE="text-align: justify">Insofar as the Company has a duty according to law or according to the Deed of Trust to pay the costs
and fees for which the Finance Sum was deposited, the Finance Sum (in addition to interest that applies to the Debentures according to
this Deed of Trust, from the record date for the specific payment as mentioned above and until its actual payment) shall be paid at the
next date scheduled in this Deed of Trust for payment on account of the Principal and/or the interest (or at another time as shall be
determined in a resolution of the Meeting as mentioned above) and it shall be added to the next payment as mentioned as an integral part
of it.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">12.4.</TD><TD STYLE="text-align: justify">The transfer of the Finance Sum to the Trustee cannot constitute an admission of the Company regarding
its liability in financing the costs and fees for which the Finance Sum was deposited.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">12.5.</TD><TD STYLE="text-align: justify">An Immediate Report that will specify the financing amount, its purpose, and the updated amounts and interest
rates and/or principal that will be paid to the holders as part of the relevant payment will be published by no later than 4 trading days
before the record date for making the relevant payment from which the financing amount will be subtracted. In addition, the Company will
state in the Immediate Report as said that the financing amount that will be transferred to the Trustee shall be deemed as payment to
the Debenture Holders for all intents and purposes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">12.6.</TD><TD STYLE="text-align: justify">Notwithstanding the aforesaid, the Trustee shall be entitled to order the Company to transfer to the Trustee
the financing amount as stated in this clause above, even before the Holders adopted a resolution for the purpose of this matter (including
a resolution regarding the commencement of proceedings and/or the performance of the actions for which the financing amount is required),
provided that the financing amount in accordance with this clause shall not exceed an amount of NIS 0.5 million (in addition to VAT) and
will be transferred from the interest payment (only).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The aforesaid does not release the
Company from its liability to pay costs and fees as mentioned where it is liable to pay them according to this Deed and/or according to
the law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt">13.</TD><TD STYLE="text-align: justify"><U>Authority to Delay the Division of Funds</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">13.1.</TD><TD STYLE="text-align: justify">Notwithstanding the provisions in clause 11 above, and until the earliest of the dates set forth hereafter,
if the sum which shall be received as a result of instituting such proceedings mentioned above and which shall be available at any time
for distribution to the Debenture Holders as mentioned in that clause, shall be less than 1 million NIS at the record date for distribution
the Trustee shall not be required to distribute it and it shall be entitled to invest this sum, in whole or in part, in accordance with
the provisions of clause 18 hereafter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">13.2.</TD><TD STYLE="text-align: justify">When these investments mentioned above reach, if they shall reach, with their profits, together with other
funds that shall reach the Trustee for the purpose of paying them to the Debenture Holders, a sum that will be sufficient in order to
pay at least 1 million ILS, the Trustee shall be required to use the mentioned sums according to the order of priorities in clause 11
above and to distribute this sum at the earliest time of the payment of the Principal or the interest. In case, until the earlier of:
the closest time for paying the interest and/or Principal, or a reasonable time after receiving the aforementioned funds, the Trustee
shall not have a sufficient amount to pay at least 1 million ILS, the Trustee shall distribute the funds in his possession to the Debenture
Holders, and in any case no later than once every three months. Despite the foregoing, Debenture Holders could, in an Ordinary Resolution,
bind the Trustee to pay them the amounts accumulated by it, even if they have not reached a total of 1 million ILS. Notwithstanding the
aforesaid, the fees to the Trustee and its expenses shall be paid out of these funds immediately upon their arrival to the Trustee and
even if they are lower than the sum set forth in clause 13.1 of this Deed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

<!-- Field: Page; Sequence: 33; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">14.</TD><TD STYLE="text-align: justify"><U>Notice of Distribution and Deposit with the Trustee</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">14.1.</TD><TD STYLE="text-align: justify">The Trustee shall notify the Debenture Holders of the date and place on which any payment shall be made
out of the payments mentioned in clauses 11 and 12 of the Deed, and this is by advance notice of 14 days that shall be given in the manner
set forth in clause 27 hereafter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">14.2.</TD><TD STYLE="text-align: justify">After the record date for entitlement for payment that was determined in the Trustee&rsquo;s notice as
mentioned, the Debenture Holders shall be entitled to interest for them according to the interest rate set forth in the Debentures, only
on the unpaid balance of the Principal sum (if such shall exist) after deducting the sum that was paid or that was offered to them for
payment in accordance with the provisions of clause 15 below as mentioned in this notice.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">14.3.</TD><TD STYLE="text-align: justify">The funds distributed as stated in this clause 14 shall be considered as payment on account of the repayment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">15.</TD><TD STYLE="text-align: justify"><U>Avoidance from Payment for a Reason that is not Dependent on the Company; Deposit with the Trustee</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">15.1.</TD><TD STYLE="text-align: justify">Any sum that is due to a Debenture Holder and that was not actually paid on the record date for its payment,
for a reason that is not dependent on the Company, while the Company was willing and able to pay it fully and on time, shall cease to
bear interest from the time that was determined, for its payment and the Debenture Holder shall be entitled, only to those amounts to
which he was entitled at the time set for repayment or payment on account of the Principal and the interest.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">15.2.</TD><TD STYLE="text-align: justify">The Company shall deposit with the Trustee, no later than 7 Business Days after the time that was scheduled
for that payment, the payment sum which was not paid on time as stated in clause 15.1 of this Deed and shall notify the Debenture Holders
in an Immediate Report regarding a deposit as mentioned, and the aforementioned deposit shall be considered as paying that payment, and
in the event of payment of everything due for that Debenture, also as the redemption of the Debenture.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">15.3.</TD><TD STYLE="text-align: justify">The Trustee shall deposit in bank accounts in its name and to its order in trust for the Debenture Holders,
the funds that shall be transferred to it as mentioned in sub- clause 15.2 of this Deed, and shall invest them in investments in accordance
with the provisions of clause 18 of this Deed. If the Trustee did so, it shall not owe to those entitled to those sums, other than the
consideration received from realizing the investments, after deducting its fees and expenses, reasonable expenses related to that investment
and to managing the trust accounts, reasonable commissions and mandatory payments applying to the trust account. Out of the funds as stated,
the Trustee shall transfer amounts to the Debenture Holders entitled thereto, as soon as possible after the Trustee is provided with reasonable
proof and approvals regarding their right to such amounts, and with the deduction of its reasonable expenses, commissions, mandatory payments
and its fees.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

<!-- Field: Page; Sequence: 34; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">15.4.</TD><TD STYLE="text-align: justify">Deleted.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">15.5.</TD><TD STYLE="text-align: justify">The Trustee shall hold the funds that shall be deposited as mentioned in clause 15.3 above and shall invest
them in the aforementioned manner, until the end of two years after the final payment of the Debentures or by the date of payment of the
funds to the Debenture Holders, whichever is earlier. After this time, the Trustee shall transfer to the Company the sums out of these
funds, which have remained with him (including profits that have accrued from their investment) after deducting its fees, expenses and
other costs that were expended in accordance with the provisions of this Deed (such as fees of service providers etc.).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">15.6.</TD><TD STYLE="text-align: justify">Upon the transfer of the funds from the Trustee to the Company, to the Trustee&rsquo;s satisfaction, the
Trustee shall be exempt from payment of such amounts to the eligible Debenture Holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">15.7.</TD><TD STYLE="text-align: justify">The Company shall confirm to the Trustee in writing the fact that these funds have been received in trust
for these Debenture Holders, and it shall indemnify the Trustee for any claim and/or cost and/or damage of any type and kind that shall
be incurred by it as a result and for transferring the sums as mentioned, unless the Trustee has acted negligently (apart from negligence
which is exempt by law as shall be from time to time), in bad faith or deceivingly.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">15.8.</TD><TD STYLE="text-align: justify">The Company shall hold these funds in a trust account for the Debenture Holders that are entitled to these
sums for three additional years after they are transferred to the Company from the Trustee. Funds that have not been demanded by the Debenture
Holders from the Company at the end of the said period shall serve the Company for any purpose. The aforesaid shall not derogate from
the Company&rsquo;s duty towards the Debenture Holders to pay the funds to which they are entitled as mentioned.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>16.</B></TD><TD STYLE="text-align: justify"><B><U>Receipt from the Debenture Holders and the Trustee</U></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">16.1</TD><TD STYLE="text-align: justify">A receipt from the Trustee regarding the depositing of the Principal funds and the interest with it in
favor of the Debenture Holders shall release the Company completely with regards to the very making of the payment of the amounts stated
in the receipt.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">16.2</TD><TD STYLE="text-align: justify">A receipt from a Debenture Holder regarding the Principal funds and the interest paid to him by the Trustee
or the Company for the Debenture shall release the Trustee and/or the Company (respectively) completely with regards to the very making
of the payment of the amounts stated in the receipt.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">16.3</TD><TD STYLE="text-align: justify">Funds distributed as stated in clause 15 above shall be considered as payment on account of the repayment
of the Debentures.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">17.</TD><TD STYLE="text-align: justify"><U>Presenting Debentures to the Trustee and Registration pertaining
to Partial Payment</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">17.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Trustee shall be entitled to request a Debenture Holder to present
to the Trustee, upon paying any interest whatsoever or a partial payment of the amount of the Principal and the interest, should there
be any, in accordance with the provisions of clauses 13-16 above, the Debenture certificates for which the payments are made, and the
Debenture Holder shall be required to present the Debenture certificate as stated, provided that it does not bind the Debenture Holders
to any payment and/or expense and/or impose on the Debenture Holders any responsibility and/or liability.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">17.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Trustee shall be entitled to register a comment on the Debenture
certificates regarding the amounts paid as stated above, as well as their payment date.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">17.3</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Trustee shall be entitled, in any special case, at its discretion,
to waive the presentation of the Debenture certificates after the Debenture Holder has given it a letter of indemnification and/or sufficient
guarantee to its satisfaction for damages which might be caused due to failure to register the comment as stated, all as it shall see
fit.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">17.4</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Despite the foregoing, the Trustee shall be entitled, at its discretion,
to hold records in another manner regarding partial payments as stated.</FONT></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">18.</TD><TD STYLE="text-align: justify"><U>Investment of Funds</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">All funds which the Trustee is entitled
to invest in accordance with this Deed, shall be invested by it, in a banking corporation in Israel which was rated by a rating company
at a rating that is no less than AA of Standard &amp; Poor&rsquo;s Maalot Ltd. or an equivalent rating by another rating company, in its
name or payable to it, at its discretion, in Israeli government debentures or daily NIS banking deposits as it shall see fit, all subject
to the terms of this Deed of Trust and the provisions of any law, and provided that any investment in securities shall be in securities
rated by a rating company as said, at a rating that is no less than AA by Standard &amp; Poor&rsquo;s Maalot Ltd. or an equivalent rating.
It shall be clarified, that apart from Israeli government debentures or banking deposits as set forth in this clause, the Trustee shall
not perform an investment in other securities. If the Trustee has done so, it shall not owe to the persons eligible for those amounts
anything other than the consideration received from realizing the investment, with the deduction of its fees and expenses, commissions
and expenses related to the stated investment and the management of the trust accounts, commissions and with the deduction of the mandatory
payments applying to the trust account, and with regards to the remaining funds the Trustee shall act in accordance with the provisions
of this Deed, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">19.</TD><TD STYLE="text-align: justify"><U>Urgent Representing Body for the Debenture Holders</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">19.1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal"><U>Appointment; term of office.</U></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30pt; text-align: justify; text-indent: -30pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">19.1.1</TD><TD STYLE="text-align: justify">The Trustee shall be entitled, or as per the Company&rsquo;s
written request it shall be obligated, to appoint and convene an urgent representing body amongst the Debenture Holders, as shall be
set forth hereinafter (hereinafter: the &ldquo;<B>Urgent Representing Body</B>&rdquo;).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 89.85pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">19.1.2</TD><TD STYLE="text-align: justify">The Trustee shall appoint to the Urgent Representing the three
(3) Debenture Holders, who, to the best of the Trustee&rsquo;s knowledge, hold the highest nominal value out of all Debenture Holders,
and who shall declare that with regards to them, all conditions set forth hereinafter are fulfilled (hereinafter: &ldquo;<B>the Urgent
Representing Body Members</B>&rdquo;). In case any of those could not hold office as an Urgent Representing Body Member as stated, the
Trustee shall appoint in his place, the Debenture Holder who holds the next highest nominal value, regarding whom all conditions set
forth hereinafter are fulfilled. The conditions are as follows:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">19.1.2.1</TD><TD STYLE="text-align: justify">The Debenture Holder is not in any material conflict of interests due to the existence of any additional
material matter that contradicts a matter that arises from serving on the Urgent Representing Body and from holding the Debentures. For
the avoidance of doubt, it is clarified, that a Holder who is an Affiliated Holder, as such term is defined in clause 4.2 above, shall
be considered to have a material conflict of interests as stated and shall not serve on the Urgent Representing Body.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">19.1.2.2</TD><TD STYLE="text-align: justify">During that calendar year, the Debenture Holder does not hold office in similar representing bodies of
other debentures, which aggregate book value exceeds the rate out of the asset portfolio managed by him, which was set as the maximal
rate enabling to hold office in an Urgent Representing Body in accordance with the instructions of the Competition Authority pertaining
to the establishment of an Urgent Representing Body.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.5in"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">19.1.3</TD><TD STYLE="text-align: justify">If, during the office of the Urgent Representing Body, one of the circumstances listed in clauses 19.1.2.1
to 19.1.2.2 above has ceased occurring, his office shall expire, and the Trustee shall appoint another member in his place out of the
Debenture Holders as stated in sub-clause 19.1.2 above.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">19.1.4</TD><TD STYLE="text-align: justify">Prior to appointment the Urgent Representing Body Members, the Trustee shall receive from the candidates
to hold office as Members of the Urgent Representing Body, a declaration regarding the existence or absence of material conflicts of interest
as stated in clause 19.1.2.1 above and with regards to holding office in additional representing bodies as stated in clause 19.1.2.2 above.
In addition, the Trustee shall be entitled to request a declaration as stated by Members of the Urgent Representing Body at any time during
the office of the Urgent Representing Body. A Holder who shall fail to provide a declaration as stated shall be considered as having a
material conflict of interests or a hindrance from holding office, pursuant to the instructions of the Competition Authority as stated
above, as the case may be. With regards to a declaration regarding a conflict of interests, the Trustee shall inspect the existence of
the conflicting matters, and if necessary shall decide whether the conflict of interests disqualifies that Holder from holding office
in the Urgent Representing Body. It is clarified, that the Trustee shall rely on the declarations as stated and shall not be required
to hold an additional inspection or independent investigation. The Trustee&rsquo;s decision on these matters shall be final.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">19.1.5</TD><TD STYLE="text-align: justify">The Urgent Representing Body&rsquo;s term shall end when the Company publishes the decisions of the Urgent
Representing Body pertaining to giving an extension to the Company for the purpose of its meeting the terms of the Deed of Trust as set
forth in clause 19.2 hereinafter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">19.2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal"><U>Authority</U></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">18.2.1.</TD><TD STYLE="text-align: justify">The Urgent Representing Body shall have the authority to grant a one-time extension to the Company regarding
the dates for meeting either of the financial covenants set forth in Appendix 6.2 of this Deed, in such manner that the expected breach
is eliminated or that the grounds for calling for immediate repayment set out in clause 9.1.13 of this Deed does not apply, as the case
may be, for the extension period, to the extent granted, for the earlier of a period which shall not exceed 90 additional days for meeting
the financial covenants as stated or up to the time of publishing the closest consolidated financial statements or the closest consolidated
financial results (as the case may be) made after the publication date of the financial statements and from which it is likely to arise
that the Company failed to fulfill any of the financial covenants during the Review Period, as defined in clause [5] in Appendix 6.2 hereunder,
whichever is earlier. It shall be clarified, that the period of time until appointing the Urgent Representing Body shall be taken into
account in the framework of the aforementioned extensions, and it shall not constitute a cause for granting the Company any additional
extension beyond the stated above. It shall be further clarified, that the actions of the Urgent Representing Body and the cooperation
between its Members, shall be limited to discussing the option of granting an extension as stated, and no other information shall be passed
between the Members of the Representing Body, which does not pertain to granting an extension as stated.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.5in"></P>

<!-- Field: Page; Sequence: 37; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">19.2.2.</TD><TD STYLE="text-align: justify">If an Urgent Representing Body has not been appointed in accordance with the provisions of this clause
19, or if the Representing Body has decided not to grant the Company an extension as stated in clause 19.2.1 above, the Trustee shall
act in accordance with the provisions of clause 9 of the Deed of Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">19.3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal"><U>The Company&rsquo;s undertakings with regards to the Representing
Body</U></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.25pt; text-align: justify; text-indent: -32.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">19.3.1.</TD><TD STYLE="text-align: justify">The Company undertakes to provide the Trustee with all of the information in its possession or which it
is able to obtain pertaining to the identity of the Debenture Holders and the scope of their holdings. In addition, the Trustee shall
act to receive the stated information in accordance with the authorities granted to it by law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">19.3.2.</TD><TD STYLE="text-align: justify">In addition, the Company undertakes to act in full cooperation with the Urgent Representing Body and the
Trustee inasmuch as it is required for the purpose of performing the examinations required by them and forming the decision of the Urgent
Representing Body, and to provide the Urgent Representing Body with all data and documents which it shall require with regards to the
Company, subject to the limitations of the law. Without derogation from the generality of the foregoing, the Company shall provide the
Urgent Representing Body with the relevant information for the purpose of forming its decision, which shall not include any misleading
detail and shall not be lacking.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 49.5pt"></TD><TD STYLE="width: 36pt">19.3.3.</TD><TD STYLE="text-align: justify">The Company shall bear the costs of the Urgent Representing Body, including costs of hiring consultants
and experts by the Urgent Representing Body or on its behalf, and the provisions of clause 26 of the Deed of Trust shall apply to this
matter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">19.4.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal"><U>Liability</U></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32.25pt; text-align: justify; text-indent: -32.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">19.4.1.</TD><TD STYLE="text-align: justify">The Urgent Representing Body shall act and decide on matters
given to it, at its absolute discretion and shall not be responsible, whether itself or any of its Members, their officers, employees
or consultants, and the Company and the Debenture Holders hereby exempt them with regards to any arguments, demands and claims against
them for using or avoiding to use powers, authorities or discretion granted to them in accordance with the Deed of Trust and with regards
thereto, or any other action which they have performed in accordance therewith, unless they have acted that way maliciously and/or in
bad faith.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">19.4.2.</TD><TD STYLE="text-align: justify">The indemnification provisions set forth in clause 26 of this
Deed shall apply to the actions of the Members of the Urgent Representing Body, as if they were the Trustee.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">19.5.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Company shall publish an Immediate Report regarding the appointment
of the Urgent Representing Body, the identity of its members and its authorities and shall publish an additional Immediate Report regarding
the decisions of the Urgent Representing Body as stated.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal"></FONT></P>

<!-- Field: Page; Sequence: 38; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">20.</TD><TD STYLE="text-align: justify"><U>Confidentiality</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">20.1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Subject to the provisions of any law and the stated in this Deed of
Trust, the Trustee undertakes, by signing this Deed, to keep confidential any information that was given to it from the Company and/or
an affiliated company and/or anyone on their behalf (&ldquo;</FONT>the Information<FONT STYLE="font-weight: normal">&rdquo;), not to disclose
it to another and not to make any use of it, unless its disclosure or the use of it is required for fulfilling its duties according to
the Law, according to the Deed of Trust, or according to a court order or according to the instructions of a legally authorized authority
or for the purpose of protecting the rights of the Debenture Holders, provided that disclosing information as stated shall be limited
to the minimal extent and scope required in order to meet the requirements of the law and that the Trustee pre-coordinates with the Company,
inasmuch as it is possible and permitted and to the extent this will not harm the rights of the Debenture Holders, the content and timing
of the disclosure, in order to give the Company reasonable leave to approach the courts in order to prevent the transfer of information
as stated.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">20.2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Transferring information to the Debenture Holders, including by publishing
it publicly, for the purpose of adopting a resolution regarding their rights according to the Debenture or for providing a report of the
Company&rsquo;s state does not constitute a breach of the confidentiality undertaking as mentioned above, and in any case only the necessary
information for adopting such resolution will be provided, to the extent provided. The transfer of information a stated to the Trustee&rsquo;s
authorized representatives and/or professional consultants and/or agents shall be done subject to their signing of a confidentiality undertaking
and lack of conflict of interests in the form attached as Appendix 20.2 to this Deed.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">20.3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">This confidentiality undertaking shall not apply to any part of the
information, that is in the public domain (except for information that became public domain due to a breach of this confidentiality undertaking)
or that was received by the Trustee not from the Company &ndash; starting from the date its receipt.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">20.4.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">All the conversations and discussions in the parts of the Meetings that
are conducted without the Company or in the Meetings conducted without the Company, insofar as the absence of the Company is required
by the Trustee, are confidential, and the Company and/or anyone on its behalf including any Office Holder in it shall not require the
disclosure of this information.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">21.</TD><TD STYLE="text-align: justify"><U>Other Agreements</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Subject to the provisions of the Law
and the restrictions imposed on the Trustee in the Law the fulfillment of the Trustee&rsquo;s duties according to this Deed of Trust,
or its status as Trustee, shall not prevent it from entering into different contracts with the Company or from performing transactions
with it in the ordinary course of its business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">22.</TD><TD STYLE="text-align: justify"><U>Reporting by the Trustee</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">22.1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Trustee shall make each year, at the time determined for this in
the Law and in absence of a scheduled time until the end of the second quarter in each calendar year, an annual report of the trust matters
(the &ldquo;</FONT>Annual Report<FONT STYLE="font-weight: normal">&rdquo;) and it shall submit it to the Securities Authority and to the
Stock Exchange.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">22.2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Annual Report shall include details that shall be determined from
time to time in the Law. Submitting the Annual Report to the Securities Authority and to the Stock Exchange, is as furnishing the Annual
Report to the Company and to the Debenture Holders.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal"></FONT></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">22.3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Trustee must submit a report regarding the actions that it performed
according to the provisions of chapter E.1 of the Law, according to a reasonable demand of the Debenture Holders that hold at least ten
percent (10%) of the balance of the nominal value of the Debentures of that series, within a reasonable time of the demand, all subject
to the confidentiality obligation of the Trustee towards the Company as set forth in Section 35J(d) of the Law.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">22.4.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Trustee shall update the Company before a report according to Section
35H1 of the Law, to the extent that this is without prejudice to the rights of the Debenture Holders.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">22.5.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">As of the day of signing this Deed, the Trustee declares that it is
insured with professional liability insurance at a total of ten million dollars per term (the &ldquo;</FONT>Coverage Amount<FONT STYLE="font-weight: normal">&rdquo;).
Insofar as prior to the full repayment of the Debentures, the Coverage Amount shall be reduced to less than a total of eight million dollars
for any reason whatsoever, then the Trustee shall update the Company no later than 7 Business Days from the day on which it has found
out about the stated reduction from the insurer, in order to publish an Immediate Report on the subject. The provisions of this clause
shall apply until such time as securities regulations shall enter into effect, which shall regulate the duty of the Trustee&rsquo;s insurance
coverage. After such regulations enter into effect as stated, the Trustee shall be required to update the Company only in case the Trustee
shall fail to uphold the requirements of the regulations.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">22.6.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Until the date of the full repayment of the Debentures, if the Trustee
shall receive an inquiry by the Holders who have 5% or more of the undertaking value of the Debentures (Series F) for receiving information
about the examinations performed by the Trustee regarding the Debenture series, including with regards to the test of the Company&rsquo;s
upholding of its undertakings towards the Debenture Holders in accordance with the Deed of Trust, the Trustee shall cooperate with the
Holder with regards to receiving the aforementioned information, all subject to signing a letter of confidentiality and subject to the
provisions of any law (for the removal of doubt, it shall be clarified that receiving the stated information shall be beyond the annual
report published by the Trustee in accordance with the provisions of the Securities Law).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">23.</TD><TD STYLE="text-align: justify"><U>Fees and Covering the Trustee&rsquo;s Expenses</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">23.1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Trustee shall be entitled to payments of its fees and expenses in
connection with fulfilling its duties, in accordance with the provisions in Appendix 23 which is attached to this Deed of Trust. If a
Trustee has been appointed in place of the Trustee whose term of service has ended according to Section 35B(a1) or Section 35N(d) of the
Securities Law, the Holders of certificates of undertaking (Series F) shall pay the difference by which the Trustee&rsquo;s fees who was
appointed as mentioned exceed the fee that was paid to the Trustee in place of whom it was appointed if such difference is unreasonable
and the provisions of the relevant law at the date of replacement shall apply.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">23.2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Debenture Holders (Series F) shall participate in financing the
Trustee&rsquo;s fees and the refund of its expenses in accordance with the provisions of the indemnification clause in clause 26 of the
Deed of Trust.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">23.3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">At the request of those who hold more than 5% (five percent) of the
remaining nominal value of the Debentures, the Trustee shall provide the Holders with data and details regarding his expenses pertaining
to the trust which is the subject of this Deed of Trust.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal"></FONT></P>

<!-- Field: Page; Sequence: 40; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">24.</TD><TD STYLE="text-align: justify"><U>Liability</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">24.1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The liability of the Trustee shall be according to law and the said
in this Deed shall be without prejudice to the protections the Trustee is entitled to in accordance with the law.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">24.2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">For the avoidance of doubt, it is hereby clarified that:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">24.2.1.</TD><TD STYLE="text-align: justify">The Trustee has no duty to examine, and in actuality the Trustee has not examined, the financial state
of the Company and this is not included among its duties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">24.2.2.</TD><TD STYLE="text-align: justify">The Trustee did not make any financial, accounting or legal due diligence examination of the Company&rsquo;s
business state or of the companies held by the Company or by a person that holds the Company&rsquo;s shares and this is not among its
duties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">24.2.3.</TD><TD STYLE="text-align: justify">The Trustee has not given its opinion expressly or impliedly regarding the Company&rsquo;s ability to
meet its undertakings towards the Debenture Holders, nor by the fact that it entered into this Deed of Trust, nor by its consent to serve
as Trustee of the Debenture Holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">24.2.4.</TD><TD STYLE="text-align: justify">The Trustee&rsquo;s signature on this Deed of Trust is not an opinion of it regarding the nature of the
offered Debentures or that it is worthwhile investing in them.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">24.3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Trustee shall not be required to notify any party of the signature
of this Deed. The Trustee shall not get involved in any manner in the management of the Company&rsquo;s business or its affairs and this
is not included in its duties.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">24.4.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Subject to the provisions of any law, the Trustee is not required to
act in a manner that is not expressly set forth in this Deed of Trust, so that any information, including with respect to the Company
and/or with respect to the Company&rsquo;s ability to meet its undertakings to the Debenture Holders will be brought to its knowledge
and this is not one of its duties.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">24.5.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Trustee is entitled to rely on the presumption as mentioned in clause
30 hereafter, and to rely on the correctness of the identity of an unregistered Debenture Holder of the Debentures as this shall be given
to the Trustee by a person whose name is registered as authorized by power of attorney, that a Nominee Company issued, insofar as the
identity of the Debenture Holder was not registered in the power of attorney.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">24.6.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Trustee is entitled to rely within the framework of its trusteeship
on any written document including, written instruction, notice, request, consent or approval, which appears to be signed or issued by
any person or body, which the Trustee believes in good faith that it was signed or issued by him.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">24.7.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">It is clarified that the termination of the Trustee&rsquo;s office does
not detract from rights, claims or arguments which the Company and/or the Holders of Debentures (Series F) shall have towards the Trustee,
inasmuch as there shall be any, which cause precedes the termination date of the Trustee&rsquo;s office, and it does not release the Trustee
of any liability by law.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

<!-- Field: Page; Sequence: 41; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">25.</TD><TD STYLE="text-align: justify"><U>The Authority of the Trustee to Employ Agents</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Subject to giving the Company advance
notice, and provided that the Trustee does not believe it shall injure the rights of the Debenture Holders, the Trustee shall be entitled
to appoint agent(s) that will act in its place, whether attorneys or others, in order to do or participate in the performance of special
actions that must be performed with respect to the trust and to pay reasonable fees to any agent as stated, and without derogating from
the generality of the aforesaid instituting legal proceedings or representing in the Company&rsquo;s merger or split proceedings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company shall be entitled to oppose
an appointment as stated in case the agent is a competitor, whether directly or indirectly, with the Company&rsquo;s business (including
companies consolidated in its financial statements) and/or in case the agent is, directly or indirectly, in a state of conflict of interests
between his appointment and his position as agent and his personal interests, his other positions or his affinity to the Company and to
corporations in its control, provided that a notice regarding the Company&rsquo;s objection as stated, which includes detailed reasonable
reasons, has been given to the Trustee no later than seven (7) Business Days from the day on which the Trustee has given the Company a
notice regarding its intention to appoint an agent as stated. It is clarified, that the appointment of an agent as stated shall not detract
from the Trustee&rsquo;s responsibility for its actions and its agents&rsquo; actions. In addition, the Trustee shall be entitled to pay,
at the Company&rsquo;s expense, the reasonable fee of any such agent, and the Company shall repay the Trustee upon its request any such
expense, provided that prior to appointing an agent as stated, the Trustee shall notify the Company in writing regarding the appointment,
in addition to details about the agent&rsquo;s fees and the purpose of his appointment, and under the circumstances the cost of the agents&rsquo;
fees does not exceed reasonable and acceptable limits (it is emphasized that to the extent that a notice to the Company as said harms
the rights of the Debenture Holders the Trustee shall be entitled not to deliver any notice to the Company). It is clarified, that publishing
the results of a resolution by the Debenture Holders regarding the appointment of agents shall constitute giving notice as stated. For
the avoidance of doubt, the Company shall not repay to the Trustee the agent&rsquo;s fees or expenses if he has been present in Debenture
Holders&rsquo; Meetings on behalf of the Trustee, or of an agent who has fulfilled the regular actions which the Trustee is required to
perform pursuant to this Deed of Trust, whereas the performance of these actions is included in the fee which the Trustee receives from
the Company in accordance with the provisions of clause 23 above. For the avoidance of doubt, in case of declaring the Debentures immediately
repayable, the actions which the Trustee shall be required to take in this regard shall not be considered as regular actions which the
Trustee must perform pursuant to this Deed of Trust for the purpose of this clause. It shall be clarified, that the objection of the Company
to appoint a certain agent who was appointed at a Holders meeting, shall not delay the beginning of employment of the agent, insofar as
the delay might damage the rights of the Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">26.</TD><TD STYLE="text-align: justify"><U>Indemnification</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">26.1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Company and the Debenture Holders (at the relevant record date as
mentioned in clause 26.5 of this Deed, each for its undertaking as mentioned in clause 26.3 of this Deed) hereby undertake to indemnify
the Trustee, each Office Holder in it, its employees, agents and experts that the Trustee shall appoint in accordance with the provisions
of the Deed of Trust or according to a resolution adopted by an Ordinary Resolution (&ldquo;</FONT>Persons Entitled to Indemnification<FONT STYLE="font-weight: normal">&rdquo;),
provided there is no double indemnification or compensation, as follows:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">26.1.1.</TD><TD STYLE="text-align: justify">For any liability and/or lawsuit and/or a threat to commence legal action and/or a reasonable expense
and/or loss and/or tort liability and/or in respect of a financial obligation, including according to a judgment or arbitration judgment
(in respect to which a stay of execution was not granted) or according to a settlement which has ended (and to the extent that the settlement
concerns the Company, the Company granted its prior approval to the settlement) the causes of which are connected to actions that the
Persons Entitled to Indemnification performed or which they must perform pursuant to the provisions of this Deed, and/or according to
the law and/or an instruction by an authorized authority and/or according to the demand of Debenture Holders and/or according to the Company&rsquo;s
demand and/or their position by virtue of this Deed; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in"></P>

<!-- Field: Page; Sequence: 42; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">26.1.2.</TD><TD STYLE="text-align: justify">In respect of remuneration due to the Persons Entitled to Indemnification and reasonable expenses that
they paid and/or are about to pay following the performance of the trust deeds or in connection with such actions as said whose performance,
in their opinion, was necessary and/or in connection with the use of authorities and permissions granted under this Deed and including
in connection with different legal proceedings, opinions by attorneys and other experts, negotiations, contacts, and requirements in connection
with insolvency proceedings, collection proceedings, debt arrangement schemes, debt estimate, valuations, threat to commence legal action,
claims and demands with respect to any matter and/or action that were performed and/or that were not performed with respect to the aforesaid
and/or their position by virtue of this Deed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">And on the condition that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">The Persons Entitled to Indemnification shall not demand indemnification in advance in a matter that cannot
be delayed without damaging their right to request indemnification retroactively, if and inasmuch as they shall have a right as stated;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">A peremptory judicial decision has not determined that the Persons Entitled to Indemnification have acted
not within the framework of their position and/or in contravention of the provisions of the Deed of Trust and/or the provisions of the
law;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">A peremptory judicial decision has not determined that the Persons Entitled to Indemnification were negligent
(in a negligence not exempt under the law as amended from time to time);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(d)</TD><TD STYLE="text-align: justify">A peremptory judicial decision has not determined that the Persons Entitled to Indemnification acted not
in good faith or maliciously;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Even in case it shall be claimed against
the Persons Entitled to Indemnification that they are not entitled to indemnification for any reason whatsoever, the Holders or the Company,
as the case may be, shall be obligated to pay to the Persons Entitled to Indemnification , upon their first demand for the payment of
the sum that is due to them in connection with the &ldquo;Indemnification Undertaking&rdquo;. In the event that it shall be determined
in a peremptory judicial decision that the Persons Entitled for Indemnification do not have the right to be indemnified, the Persons Entitled
for Indemnification shall return the sums of the Indemnification Undertaking that were paid to them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The undertaking
to indemnify in accordance with this clause 26.1 shall be referred to as the &ldquo;<B>Indemnification Undertaking.</B>&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify; text-indent: -1.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify; text-indent: -1.8pt"></P>

<!-- Field: Page; Sequence: 43; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify; text-indent: -1.8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">26.2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Without derogating from the validity of the &ldquo;Indemnification Undertaking&rdquo;
in clause 26.1 of this Deed and subject to the provisions of the Securities Law, as long as the Trustee shall be required according to
the terms of the Deed of Trust and/or according to Law and/or instruction of an authorized authority and/or any law and/or according to
the demand of Debenture Holders and/or the Company&rsquo;s demand and/or for the purpose of protecting the rights of the Debenture Holders,
to perform any action, including but not limited to, instituting proceedings or submitting claims according to the demand of Debenture
Holders, as mentioned in this Deed, the Trustee shall be entitled to refrain from taking any such action, until the Trustee receives,
to its satisfaction, a finance cushion for the purpose of covering the Indemnification Undertaking (the &ldquo;</FONT>Finance Cushion<FONT STYLE="font-weight: normal">&rdquo;)
for an amount that will be reasonably set by the Trustee as the projected amount of the expenses in connection with the performance of
such an action as said, in first priority from the Company, and in the event the Company fails to deposit the Finance Cushion on the date
the Company was required to act in the said manner by the Trustee, the Trustee will approach the Debenture Holders who held on the record
date (as stated in clause 26.5 of this Deed) with a request to deposit with the Trustee the amount of the Finance Cushion, each in proportion
to its Relative Share (as such term is defined below). In the event the Debenture Holders do not actually deposit the entire amount of
the Finance Cushion, the Trustee shall not be obligated to perform any relevant action or commence proceedings. The aforesaid shall not
release the Trustee from taking urgent action that is required for the purpose of preventing a material adverse effect to the rights of
the Debenture Holders. The payments by the Holders in accordance with this clause shall not release the Company from its liability to
make such payment as said. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Trustee shall be entitled to determine
the amount of the &lsquo;Finance Cushion&rsquo; and shall be entitled to act for the purpose of creating another cushion as said, from
time to time, for an amount to be determined by the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">After the regulations regarding the
deposit deposited by the Company in favor of the Debenture Holders are amended pursuant to the provisions of Section 35E1 of the Securities
Law, the deposit shall be used in lieu of the Finance Cushion and the Trustee shall be entitled to request from the Company from time
to time to renew the deposit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">26.3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Indemnification Undertaking:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">26.3.1</TD><TD STYLE="text-align: justify"><U>Shall apply to the Company due to the following cases</U>:
<B>(1) </B>Actions that were performed in accordance with any law and/or required to be performed according to the terms of the Deed
of Trust including for protection the rights of the Debenture Holders (including pursuant to a request by one Debenture Holder which
is required for the purpose of defense as stated); <B>and (2) </B>Actions that were performed and/or required to be performed according
to the Company&rsquo;s demand.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">26.3.2</TD><TD STYLE="text-align: justify"><U>Shall apply to the Debenture Holders that held at the record
date (as mentioned in clause 26.5 hereafter) in the following cases</U>: <B>(1).</B> an event that is not within the scope of clause
26.3.1; <B>and (2).</B> the non-payment by the Company of the indemnification sum that applies to it according to clause 26.3.1 of this
Deed (without derogating from the provisions of clause 26.6 of this Deed).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">26.4.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">In any event that: (a) the Company does not pay the sums required for
covering the Indemnification Undertaking and/or shall not deposit the sum of the Finance Cushion as the case may be; and/or (b) the indemnification
duty applies to the Debenture Holders by virtue of the provisions of clause 26.3.2 above and/or the Debenture Holders were called to deposit
the sum of the Finance Cushion according to clause 26.2 of this Deed, the provisions hereinafter shall apply and the monies shall be collected
in the following manner:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">26.4.1</TD><TD STYLE="text-align: justify"><U>First</U> &ndash; out of the money (first interest and thereafter
Principal) which the Company must pay to the Debenture Holders after the date of the required action, and the provisions of clause 11
of this Deed shall apply. By no later than four Trading Days prior to the record date for making the relevant payments from which amounts
will be deducted in accordance with this sub-clause, an Immediate Report will be published that will include the amounts, purpose and
the amount and rates of amounts that will be paid to the Debenture Holders within the framework of the relevant payment. In addition,
the Company will note in the said Immediate Report that the amounts that will be transferred to the Trustee in accordance with the provisions
of this sub-clause will be considered for any purpose as payment to the Debenture Holders;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -34.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">26.4.2</TD><TD STYLE="text-align: justify"><U>Second</U> &ndash; insofar as according to the Trustee&rsquo;s opinion the sums deposited in the Finance
Cushion shall not be enough to cover the Indemnification Undertaking, the Debenture Holders that shall hold Debentures at the record date
(as mentioned in clause 26.5 of this Deed) shall deposit the missing sum, each one in accordance with their Relative Share (as such term
is defined) with the Trustee. The sum that each Debenture Holder shall deposit shall bear annual interest at a rate equal to the interest
determined for the Debentures and it shall be paid with preference as mentioned in clause 26.7 of this Deed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">The &ldquo;<B>Relative Share</B>&rdquo;
means: the relative share of the Debentures which the Debenture Holder held at the relevant record date as mentioned in clause 26.5 hereafter
of the total nominal value of the Debentures in Circulation at that time. It is clarified that the calculation of the relative share shall
remain fixed even if after that time a change shall occur in the nominal value of the Debentures held by the Debenture Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">26.5.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The record date for determining the Debenture Holder&rsquo;s obligation
in the Indemnification Undertaking and/or in the payment of the Finance Cushion is as follows:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">26.5.1</TD><TD STYLE="text-align: justify">In any event that the Indemnification Undertaking and/or payment of the Finance Cushion are required due
to a resolution or urgent action required for preventing adverse material harm to the rights of the Debenture Holders and this is without
an advance resolution of the Debenture Holders Meeting &ndash; the record date of the obligation shall be the end of the Trading Day of
the date the action was taken or the resolution was made, and if this day is not a Trading Day, the Trading Day prior to it.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">26.5.2</TD><TD STYLE="text-align: justify">In any event that the Indemnification Undertaking and/or payment of the Finance Cushion is required according
to a resolution of the Meeting of Holders &ndash; the record date for the obligation shall be the record date for participating in the
Meeting (as this date was determined in the summons notice) and it shall also apply to a Debenture Holder that was not present or that
did not participate in the Meeting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">26.5.3</TD><TD STYLE="text-align: justify">In any other case or in the case of disputes regarding the record date &ndash; the record date shall be
as determined by the Trustee at its absolute discretion.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">26.6.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">To the extent that that sums paid to the Trustee should have been paid
by the Company, the receipt of the payments from the Holders shall be without prejudice to the obligation of the Company pursuant to the
provisions of this clause 26 shall not release the Company from its liability to make the said payments and the Trustee shall act reasonably
for the purpose of obtaining the said sums from the Company. It is clarified that the Trustee shall not be bound by any obligation to
commence any legal action for the purpose of collecting the said indemnification amounts.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">26.7.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The refund to the Debenture Holders who made payments according to this
clause shall be made according to the order of preference set forth in clause 11 above.</FONT></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">27.</TD><TD STYLE="text-align: justify"><U>Notices</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">27.1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Any notice on behalf of the Company and/or the Trustee to the Debenture
Holders (including Debenture Holders registered in the Registry managed by the Company) shall be given as follows:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">27.1.1</TD><TD STYLE="text-align: justify">In cases in which the provisions of the law require this or according to a decision of the Trustee by
reporting to the Magna system of the Securities Authority;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">27.1.2</TD><TD STYLE="text-align: justify">In the event that the circumstances require such action in accordance with the law, also by way of publishing
a notice that shall be published in two daily newspapers that are widely distributed, that are published in Israel in the Hebrew language.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">27.1.3</TD><TD STYLE="text-align: justify">Any notice that shall be published or sent as mentioned above, shall be considered as if it was delivered
to the Debenture Holder on the date of its publication as mentioned (in the Magna system or in the press, respectively).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">27.1.4</TD><TD STYLE="text-align: justify">The Trustee is entitled to instruct the Company, and the Company shall be obligated to immediately report
on the Magna on behalf of the Trustee, any report to the Debenture Holders in its wording as it shall be given in writing by the Trustee
to the Company. The Company shall be entitled to add its reference and/or response to the stated report, in a separate report. Any notice
published as stated shall be considered to have been delivered to the Debenture Holder on the day of its publication on the Magna as stated.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">27.1.5</TD><TD STYLE="text-align: justify">In the event that the Company shall cease to report in accordance with the law, in cases in which there
are provisions of the law that require this, or according to the decision of the Trustee, by sending a notice by registered mail to each
registered Debenture Holder according to his last address registered in the Debenture Holders registry (in the event of joint Holders
&ndash; to the joint Debenture Holder whose name appears first in the registry). Any notice that shall be sent as mentioned shall be considered
as if it was delivered to the Debenture Holders 10 Business Days after it was delivered in the mail and the version of such notice as
said will be delivered simultaneously to the Trustee via email.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">27.1.6</TD><TD STYLE="text-align: justify">Copies of the notices and invitations given by the Company to Debenture Holders shall also be sent by
it to the Trustee. It shall be clarified, that notices and invitations as stated do not include the Company&rsquo;s ongoing reports to
the public. Copies of the notices and invitations given by the Trustee to the Debenture Holders shall also be sent by him to the Company,
to the extent that such action is without prejudice to the rights of the Debenture Holders. The publication of notices as stated on the
Magna shall be instead of delivering them to the Trustee or the Company, as stated above in this clause, as the case may be.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">27.1.7</TD><TD STYLE="text-align: justify">Any notice or demand on behalf of the Trustee or Debenture Holder to the Company may be given by a letter
that shall be sent by registered mail to their address, or by transmitting it by fax or in writing by a courier or by email and any notice
or demand such as this shall be considered as if it was received by the Company or other addressee:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.6in">27.1.7.1</TD><TD STYLE="text-align: justify">In the event of sending by registered mail &ndash; 3 Business Days after it was delivered in the mail.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 121.05pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.6in">27.1.7.2</TD><TD STYLE="text-align: justify">In the event of transmitting it by facsimile (with additional telephone confirmation that it was received)
&ndash; at the time of the telephone confirmation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 121.05pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.6in">27.1.7.3</TD><TD STYLE="text-align: justify">In the event of transmitting it by email &ndash; at the time of receiving confirmation by email that it
was read or at the time that it was confirmed by telephone that it was received (if confirmation was performed), whichever is earlier
of the two.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 121.05pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.6in; text-align: left">27.1.7.4</TD><TD STYLE="text-align: justify">In the event that it was sent by a courier &ndash; on the first
Business Day after its delivery by courier to the addressee or in the event that the addressee refrained from accepting it, on the first
Business Day after the courier&rsquo;s offer to the addressee to accept it.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 121.05pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">27.2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Any notice or demand to the Trustee shall be given in one of the ways
set forth in clause 27.1 above.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">28.</TD><TD STYLE="text-align: justify"><U>Waiver; Settlement; Changes in the Terms of the Deed of Trust, Debentures</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">28.1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Subject to the provisions of any law, the Trustee shall be entitled
from time to time and at any time, to waive any breach or the default of the terms of the Debentures or this Deed by the Company if it
was convinced that this is for the benefit of the Debenture Holders or where this does not harm the Debenture Holders. The provisions
of this clause shall not apply with regards to the following subjects: the terms of Debenture repayment, including dates and payments
according to the Debentures, changing the interest rate listed in the Debenture terms; limitations on issuance of other securities, as
stated in clause 5.1 of this Deed and limitations on the expansion of a series as stated in clause 5.2 and Appendix 5.2 of this Deed;
causes for declaring Debentures immediately payable in accordance with clause 9.1 of this Deed; provisions regarding negative pledge in
accordance with clause 7.4 of this Deed; limitations on distribution as stated in Appendix 6.2 of this Deed; the Company&rsquo;s undertaking
to meet financial covenants in accordance with Appendix 6.2 of this Deed; with respect to increasing the interest in the event of failure
to meet financial covenants as set forth in the terms set out on the back of the page; waiver regarding the making of payments; with regards
to reports which the Company must give the Trustee; or with respect to limitations on transactions of controlling shareholders, as stated
in Appendix 6.2 of this Deed.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal"></FONT></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">28.2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Subject to the provisions of the law, and with the pre-approval in a
Special Resolution, the Trustee shall be entitled, whether before or after the Debenture Principal is available for repayment, to settle
with the Company with regards to any right or claim of the Debenture Holders or any of them, and to agree with the Company on any arrangement
of their rights, including waiving any right or claim by it and/or the Debenture Holders or any of them, towards the Company. In the event
the Trustee settled with the Company after the Trustee obtained prior approval as said, the Trustee shall be released from liability in
respect of this action, as approved by the meeting of the Debenture Holders (Series F), provided that the Trustee did not breach its duty
of trust and did not act in bad faith or maliciously or under gross negligence (that is not exempt in accordance with the law) in the
application of the resolution of the meeting of the Debenture Holders (Series F). </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">28.3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Subject to the provisions of the law and the regulations promulgated
or which shall be promulgated pursuant thereto, the Company and the Trustee are entitled, whether before or after the Debenture Principal
is available for repayment, to change the Deed of Trust and/or the terms of the Debentures in one of the following cases:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">28.3.1</TD><TD STYLE="text-align: justify">Apart from the subject set forth in clause 28.1 above, and apart from a change in the identity of the
Trustee or its, or for appointing a Trustee in place of the Trustee whose term has ended, if the Trustee was convinced that the change
does not harm the Debenture holders; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">28.3.2</TD><TD STYLE="text-align: justify">The suggested change was approved by a Special Resolution.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.7pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">28.4.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Company shall deliver to the Debenture Holders a written notice
regarding any change or waiver as stated in this clause above, as soon as possible after performing it.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">28.5.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">In any case of exercising the Trustee&rsquo;s right in accordance with
this clause, the Trustee shall be entitled to request the Debenture Holders to deliver to it or to the Company, the Debenture certificates
for the purpose of registering a comment therein regarding any settlement, waiver, change or amendment as stated, and as per the Trustee&rsquo;s
request, the Company shall register a comment as stated in the certificates delivered to it. In any case of exercising the Trustee&rsquo;s
right in accordance with this clause, it shall notify the Debenture Holders in this regard without delay and as soon as possible.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">28.6.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Without derogation to the foregoing, the Debenture terms could also
be changed in the framework of an arrangement or settlement, which was approved by the court, in accordance with Section 350 of the Companies
Law or the provisions of the Insolvency Law.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">29.</TD><TD STYLE="text-align: justify"><U>Proxies</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">29.1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Company hereby appoints the Trustee for the Debentures (Series F)
as its proxy, to execute and perform in its name and in its place those actions which it shall be required to perform in accordance with
the terms set forth in this Deed, and to act in its name with regards to those actions which the Company is required to perform in accordance
with this Deed and which it has not performed, or to perform the authorities granted to it, and to appoint any other person as the Trustee
shall see fit, to perform its roles in accordance with this Deed, subject to the Company failing to perform the actions it is required
to perform in accordance with the terms of this Deed within a reasonable period of time as determined by the Trustee, from the day of
the Trustee&rsquo;s written request, and provided that the Trustee has acted reasonably.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal"></FONT></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">29.2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">An appointment in accordance with this clause 29 does not obligate the
Trustee to perform any action, and the Company hereby exempts the Trustee and its agents in advance, in case they shall fail to perform
any action whatsoever, and the Company waives in advance any claim towards the Trustee and its agents for any damage which was caused
or which might be caused to the Company, directly or indirectly, due to this, based on an action which was not performed by the Trustee
and its agents as stated above. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">30.</TD><TD STYLE="text-align: justify"><U>Registry of Debenture Holders</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">30.1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Company shall hold and manage a registry of Debenture Holders with
regards to any relevant series separately, that shall be open for viewing by any person in accordance with the provisions of the Law.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">30.2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The registry of the Debenture Holders shall constitute prima facie proof
of its content.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">30.3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The Company shall not be obligated to register in the Debenture Holders&rsquo;
registry, any notice regarding trust, expressed, implied or assumed, or any lien or pledge of any </FONT>sort <FONT STYLE="font-weight: normal">and
type whatsoever or any right in equity, claim or offset or any other right pertaining to the Debentures. The Company shall only acknowledge
the ownership of the person in whose name the Debentures were registered. The legal successors, estate managers or executors of the will
of the registered Holder, and any person who shall be entitled to Debentures due to the bankruptcy of any registered Holder (and if the
Holder is a corporation &ndash; due to its liquidation), shall be entitled to be registered as Holders thereof after giving proof which
the Company finds sufficient to show their right to be registered as their Holders.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">31.</TD><TD STYLE="text-align: justify"><U>Meetings of the Debenture Holders</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Convening a Meeting of the Debenture
Holders, the manner of conducting it and different terms regarding it, shall be in accordance with the second addendum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">32.</TD><TD STYLE="text-align: justify"><U>Applicability of the Law</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">28.1.</TD><TD STYLE="text-align: justify">On any matter not mentioned in this Deed, as well as in any case of contradiction between the provisions
of the law and its regulations (which cannot be conditioned) and this Deed, the parties shall act in accordance with the provisions of
the law and its regulations (which cannot be conditioned).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">28.2.</TD><TD STYLE="text-align: justify">The Deed of Trust and its appendixes, including the Debentures certificate, are subject to the provisions
of the Israeli law alone.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">33.</TD><TD STYLE="text-align: justify"><U>Exclusive Authority</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The only court that shall be competent
to hear matters connected to the Deed of Trust and its appendixes shall be the competent court in Tel Aviv &ndash; Jaffa.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">34.</TD><TD STYLE="text-align: justify"><U>General</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Without derogating from the other
provisions of this Deed of Trust, and of the Debentures, any waiver, extension, discount, silence, avoidance from action (&ldquo;<B>waiver</B>&rdquo;)
by the Trustee concerning the default or partial performance or incorrect performance of any undertaking towards the Trustee or towards
the Debenture Holders according to this Deed and the Debenture, shall not be considered as a waiver by the Trustee of any right, but rather
as a consent limited to this certain waiver and it shall apply only with respect to the specific time in which it was given and it shall
not apply to other times or to other waivers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Without derogating from the other
provisions of this Deed of Trust and the Debenture, any reduction of undertakings towards the Trustee, that were set forth in this Deed
or that were made according to it, including waiver, requires receiving the Trustee&rsquo;s consent in advance and in writing and no other
consent shall be valid, whether verbal or by conduct regarding such reduction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Trustee&rsquo;s rights according
to this agreement are independent from each other and they are in addition to any right that currently exists and/or that the Trustee
shall have according to law and/or other agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">35.</TD><TD STYLE="text-align: justify"><U>Addresses</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The parties&rsquo; addresses shall
be as set forth in the preamble of this Deed, or any other address in respect to which a notice shall be given according to clause 27
above, to the other party. The addresses of the Debenture Holders shall be as mentioned in the Registry or as shall be delivered by them
by notice according to clause 27 above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">36.</TD><TD STYLE="text-align: justify"><U>Authorization to Magna</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In accordance with the provisions
of the Securities Regulations (Signature and Electronic Reporting), 5763- 2003, the Trustee hereby authorizes the party authorized for
this on behalf of the Company, to electronically report to the Securities Authority of this Deed of Trust, the engagement and the signature
thereon inasmuch as it is required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><I>[signature on a separate page]</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>And in witness whereof the parties have signed:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%; text-align: center"><FONT STYLE="font-size: 10pt"><I>/s/ Shlomo Nehama, /s/ Ran Fridrich</I></FONT></TD>
    <TD STYLE="width: 20%; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%; text-align: center"><FONT STYLE="font-size: 10pt"><I>/s/ Merav Ofer</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Ellomay Capital Ltd.</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Hermetic Trusts (1975) Ltd.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I the undersigned Odeya Brick-Zarsky, Adv. Confirm
that this Deed of Trust was signed by Ellomay Capital Ltd. Via Messrs. Shlomo Nehama and Ran Fridrich and their signature binds Ellomay
Capital Ltd. With respect to this Deed of Trust for all intents and purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%; text-align: left"><FONT STYLE="font-size: 10pt"><I>/s/ Odeya Brick-Zarsky</I></FONT></TD>
    <TD STYLE="width: 60%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Odeya Brick-Zarsky, Adv.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I, the undersigned, Chen Cohen, Adv., hereby confirm
that this Deed of Trust was signed by Hermetic Trust (1975) Ltd., by Merav Ofer, and her signature binds Hermetic Trust (1975) Ltd. In
connection with this Deed of Trust for all intents and purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%; text-align: left"><FONT STYLE="font-size: 10pt"><I>/s/ Chen Cohen</I></FONT></TD>
    <TD STYLE="width: 60%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Chen Cohen, Adv.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Ellomay Capital Ltd.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>First Addendum<BR>
Debentures (Series F)</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The issue of a series of registered Debentures
(Series F), registered by name, bearing annual interest at a rate of 5.5%, non-linked (principal and interest), payable in 4 non-equal
annual installments on March 31 in each of the years 2027 to 2030 (inclusive) as follows: in each of the principal payments in the years
2027 and 2028 a rate of 30% of the principal will be paid, in the principal payment in the year 2029 a rate of 25% of the principal will
be paid and in the principal payment in the year 2030 a rate of 15% of the principal will be paid. The interest on the Debentures (Series
F) shall be paid twice a year, on March 31 in each of the years 2024 to 2030 (inclusive) and on September 30 of each of the years 2024-2029
(inclusive) starting from March 31, 2024 and until the final payment date of the Debentures (Series F) on March 31, 2030.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Debentures (Series F) Registered in the
Name</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Number ____</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Nominal value in NIS _________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">1.</TD><TD STYLE="text-align: justify">This Debenture hereby witnesseth that Ellomay Capital Ltd. (the &ldquo;<B>Company</B>&rdquo;) will pay
on the payment dates set out in clauses 3 and 4.1 of the terms set out on the back of the page, to whoever is the holder of the Debenture
on the record date, principal and interest payments, and all subject to the terms set forth on the back of the page and in the Deed of
Trust dated January 14, 2024, made between the Company and Hermetic Trust (1975) Ltd. and/or whoever serves from time to time as a trustee
of the debentures in accordance with the Deed of Trust (respectively: the &ldquo;<B>Trustee</B>&rdquo; and the &ldquo;<B>Deed of Trust</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">2.</TD><TD STYLE="text-align: justify">This Debenture carries interest according to the annual interest rate set out above that will be paid
on the dates stated in the terms set out on the back of the page, and all as stated in the terms set out on the back of the page.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">3.</TD><TD STYLE="text-align: justify">This Debenture is not linked (principal and interest) to any linkage basis, and all as stated in the terms
set out on the back of the page.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">4.</TD><TD STYLE="text-align: justify">This Debenture is issued as part of Series F of debentures in conditions that are identical to this Debenture
(the &ldquo;<B>Debentures Series</B>&rdquo;) subject to the terms set out on the back of the page and in accordance with the provisions
set forth in the Deed of Trust, constituting an integral part of the Debenture. It is clarified that the provisions set forth in the Deed
of Trust shall constitute an integral part of this Debenture and shall bind the Company and the Debenture Holders included in the said
series F. Each of the debentures in the said series F shall be of equal rank inter se (pari-passu) and no right shall have priority over
another right.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">5.</TD><TD STYLE="text-align: justify">The terms set forth in this certificate shall change without the need for issuing a new certificate at
any time when the Deed of Trust and/or its versions shall be lawfully modified.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Signed by the Company on ____________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">______________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ellomay Capital Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">By its authorized signatories:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Director: _____________________ Director: ____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 52; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>The terms set out on the Back of the Page
</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>1.</B></TD><TD STYLE="text-align: justify"><B><U>General</U></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In this Debenture the terms in clause
1.4 of the Deed of Trust shall have the meaning given to them there, unless expressly provided otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD STYLE="text-align: justify"><B><U>Securing the Debentures</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Debentures do not include any
collaterals or pledges and include an undertaking for negative pledge as set forth in clause 7.4 of the Deed of Trust, and an undertaking
to meet the financial covenants and restrictions in connection with the distribution, as such term is defined in the Companies Law and
as detailed in Appendix 6.2 of this Deed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify"><U>The Date of Payment of the Debentures Principal</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The principal of the Debentures (Series
F) shall be paid in four (4) non-equal annual installments on March 31 in each of the years 2027 to 2030 (inclusive) as follows: in each
of the principal payments in the years 2027 and 2028 a rate of 30% of the principal will be paid, in the principal payment in the year
2029 a rate of 25% of the principal will be paid and in the principal payment in the year 2030 a rate of 15% of the principal will be
paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify"><U>The Interest</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.1.</TD><TD STYLE="text-align: justify">The unpaid balance of the Principal of the Debentures (Series F) shall bear interest at a fixed annual
rate to be determined in a tender (the &ldquo;<B>Base Interest</B>&rdquo;), without linkage to any linkage basis. It is emphasized that
the Base Interest is subject to additions of interest, to the extent that there are any, in respect of failure to meet financial covenants
in the manner set out in clause 4.3.1 hereunder and interest in arrears in the manner set out in clause 8 hereunder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The interest for the unpaid balance
of the Principal of the Debentures (Series F) shall be paid in semiannual payments: on March 31 in each of the years 2024-2030 (inclusive)
and on September 30 in each of the years 2024-2029 (inclusive). The first payment of interest for the Debentures (Series F) shall be paid
on March 31, 2024, and the last payment of interest shall be paid on March 31, 2030 (along with the last payment for the return of the
Principal of the Debentures (Series F)) in exchange for delivering the certificates of the Debentures (Series F) to the Company. The payments
of interest shall be paid for the period of time beginning on the first day after the end of the previous interest term, and shall end
on the date of paying the relevant interest payment, apart from the payment of the first interest payment, which shall be made on March
31, 2024, which shall be paid for the period that begins on the first Trading Day after the day of the tender regarding the Debentures
(Series F) and ending at the stated date of payment (the &ldquo;<B>First Interest Term</B>&rdquo;), and shall be calculated based on the
number of days in the aforementioned period on the basis of 365 days per year. The interest rate which shall be paid for a certain interest
term, apart from the First Interest Term, shall be calculated as the annual interest rate divided by 2 (hereinafter: the &ldquo;<B>Semi-Annual
Interest Rate</B>&rdquo;). Within the framework of the Immediate Report that the Company will provide on the results of the offering,
the Company will notify of the annual interest rate, the Semi-Annual Interest Rate and the interest rate that will be paid for the First
Interest Term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.</TD><TD STYLE="text-align: justify">Withholding tax that must be deducted shall be deducted from any payment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.</TD><TD STYLE="text-align: justify"><B>Adjustment mechanism of the interest rate</B>:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">4.3.1.</TD><TD STYLE="text-align: justify"><U>Changing the interest rate due to failure to meet certain
financial covenants</U></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">Without derogating from the provisions
of clause 9.1.13 of the Deed of Trust, the interest rate which the Debentures shall bear shall be adjusted due to failure to meet the
financial covenants set forth in clauses 2(b), 3(b) and 4(b) of Appendix 6.2 of the Deed of Trust, at the times set forth in this clause,
as specified hereinafter:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">In case the Company fails to meet any of the financial covenants set forth in clauses 2(b), 3(b) and 4(b)
of Appendix 6.2 of the Deed of Trust (hereinafter in this clause 4.3.1: &ldquo;<B>the Covenants</B>&rdquo;), the annual interest rate
which the unpaid balance of the Debenture Principal shall bear, shall increase by an annual rate of 0.25% beyond the annual interest rate
as it shall be at that time, for breaching each of the Covenants (hereinafter in this clause 4.3.1: &ldquo;<B>the Additional Interest</B>&rdquo;)
in such manner that the total addition of maximal Additional Interest is at a rate of 0.75%, for the period of time beginning upon publishing
the financial statements or the financial results, as the case may be, according to which the Company has failed to meet any of the Covenants,
and until the full repayment date of the unpaid balance of the Debentures Principal or until the Company meets the covenant, the deviation
from which has led to the Additional Interest (as stated in sub-clause (d) hereinafter), the earlier of these dates. It is clarified,
that increasing the interest rate as stated above shall be done only once for breaching each of the Covenants, inasmuch as it shall occur,
and that the interest rate shall not increase once more in case the deviation from that Covenant continues, inasmuch as it shall continue.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 128.15pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">No later than five (5) Business Days from the day of publishing the financial statements or the financial
results, as the case may be, according to which the Company has failed to meet any of the Covenants, the Company shall publish an Immediate
Report, in which it shall state: (a) the fact that it has failed to meet the Covenant, while specifying the calculation of the Covenant
which the Company has failed to meet, and the date on which the failure to meet the Covenant has begun; (b) the exact interest rate which
the balance of the Principal of the Debentures (Series F) shall bear for the period of time beginning on the current Interest Term and
until publishing the financial statements or the financial results, as the case may be (the interest rate shall be calculated according
to 365 days a year) (hereinafter in this clause 4.3.1: the &ldquo;<B>Original Interest</B>&rdquo; and the &ldquo;<B>Original Interest
Term</B>&rdquo; respectively); (c) the interest rate which the balance of the Principal of the Debentures (Series F) shall bear as of
the day of publishing the financial statements or the financial results, as the case may be, and until the actual nearest interest payment
day, namely: the Original Interest plus the Additional Interest annual rate (the interest rate shall be calculated according to 365 days
a year) as a result of failure to fulfill the Covenants (hereinafter in this clause 4.3.1: &ldquo;<B>the Updated Interest</B>&rdquo;);
(d) the weighted interest rate which the Company shall pay the Holders of Debentures (Series F) upon the nearest interest payment day,
pursuant to the stated in sub-clauses (b) and (c) above; (e) the annual interest rate reflected from the weighted interest rate; (f) the
annual interest rate and the semi-annual interest rate for the coming periods.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 128.15pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 128.15pt; text-align: justify; text-indent: -0.25in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 128.15pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">If the day of publishing the financial statements or the financial results, as the case may be, according
to which the Company is required to pay Additional Interest in accordance with this clause 4.3.1, shall occur during the days beginning
four days prior to the record date for paying any interest whatsoever and ending upon the interest payment day closest to the aforementioned
record date (hereinafter in this clause 4.3.1: &ldquo;<B>the Deferral Period</B>&rdquo;), the Company shall pay the Holders of Debentures
(Series F), upon the nearest interest payment day, the Original Interest, prior to the change, alone (subject to previous changes which
have occurred, if any have occurred, to the interest rate in light of the stated in this clause), when the interest rate pursuant to the
Additional Interest during the Deferral Period, shall be paid upon the next interest payment day. The Company shall notify, in an Immediate
Report, the accurate Semi-Annual and Annual interest rate for payment upon the next interest payment day.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 128.15pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify">It shall be clarified, that in case of deviation in one or more Covenants, in a way which has affected
the interest rate which the Debentures (Series F) shall bear, following which a Covenant shall be corrected in a way that the deviation
ceases to exist (thus, the Debenture Holders shall cease to be entitled to Additional Interest for the deviation from that Covenant),
there shall be a decrease in the interest rate which shall be paid by the Company to the Debenture Holders, provided that it shall not
fall below the Base Interest, applying as of the day of publishing the financial statements or the financial results, which show that
the deviation was corrected, so that in case the stated Covenant was corrected, the interest rate which the unpaid balance of the Principal
of the Debentures (Series F) shall bear, shall be, inasmuch as the interest rate was not previously increased due to a deviation from
another Covenant, equal to the Base Interest rate. In this case, the Company shall act in accordance with the stated in sub-clauses (a)
to (d) above, <I>mutatis mutandis</I>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 128.15pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in">e.</TD><TD STYLE="text-align: justify">In any case, the Additional Interest shall not increase, as a result of failure to meet the Covenants,
over 0.75%. Interest in arrears, to the extent applicable in accordance with the provisions of clause 8 hereunder, shall be added to the
said interest and shall not constitute a part thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 128.15pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD STYLE="text-align: justify"><U>The Linkage Terms of the Principal and the Interest</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The interest and the Principal of
the Debentures (Series F) are not linked to the index or to any currency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">6.</TD><TD STYLE="text-align: justify"><U>Deferral of Appointed Times</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">If the date of payment of any payment
of Principal and/or interest falls on a day which is not a Business Day, the date stipulated shall be deferred to the next Business Day
after it without any additional payment and the &ldquo;Record Date&rdquo; for the purpose of determining entitlement to redemption and
to interest shall not change as a result.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">7.</TD><TD STYLE="text-align: justify"><U>Payments of the Principal and Interest of the Debentures</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.1.</TD><TD STYLE="text-align: justify">The payments on account of the principal and/or the interest of the Debentures (Series F) shall be paid
to the persons whose names are listed in the Debentures Registry as the holders of the Debentures (Series F) 6 days prior to the payment
date, as follows: March 25 (with respect to payment dated March 31) and September 24 (with respect to payment dated September 30) (hereinafter:
the &ldquo;<B>Record Date</B>&rdquo;) except for the last payment of the principal and the interest that will be paid to the persons whose
names are registered in the Debentures Registry on the payment date (March 31, 2030) and that will be made against provision of the Debenture
certificates (Series F) to the Company on the payment date, in the registered office of the Company or in any other place as announced
by the Company. The Company&rsquo;s notification as mentioned shall be published no later than five (5) Business Days before the last
date of payment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.2.</TD><TD STYLE="text-align: justify">Payment to those entitled shall be made in checks or by bank transfer to the bank account of the people
whose names shall be registered in the Registry (as mentioned in clause 7.1 above) and who shall be mentioned in the details given in
writing to the Company on time, in accordance with the provisions of clause 7.4 hereafter. If the Company shall not be able, for any reason
which is not dependent on it, to pay any sum to those entitled, while the Company could have paid it fully and timely, it shall deposit
this sum with the Trustee as mentioned in clause 15 of the Deed of Trust. In the event the clearing shall be made through the Stock Exchange
clearing house &ndash; through the clearing house.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.3.</TD><TD STYLE="text-align: justify">A Debenture Holder who shall wish to notify the Company the details of the bank account to credit with
payments according to the Debentures as mentioned above, or change the payment instructions, as the case may be, can do so in a registered
letter to the Company. The Company shall fulfill the instruction if it shall reach its registered office at least 30 days before the record
date for paying any payment according to the Debentures.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.4.</TD><TD STYLE="text-align: justify">In the event that the notice shall be received by the Company late, the Company shall act according to
it only with respect to payments scheduled after the payment date that is in proximity to the date the notice was received.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.5.</TD><TD STYLE="text-align: justify">If the Debenture Holder entitled to such payment did not deliver details to the Company regarding his
bank account, any payment on account of the Principal and interest shall be made by check which shall be sent by registered mail to his
last address written in the registry of Debenture Holders or by bank transfer crediting the bank account of the Debenture Holder, according
to the Company&rsquo;s choice. Sending a check to a person entitled by registered mail as aforementioned shall be considered for all intents
and purposes as payment of the sum stipulated in it at the date of sending it by mail provided that it was paid upon lawfully presenting
it for payment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.6.</TD><TD STYLE="text-align: justify">Any mandatory payment insofar as required according to law shall be deducted from any payment for the
Debentures (Series F).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">8.</TD><TD STYLE="text-align: justify"><U>Interest in Arrears</U></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">For any payment on account of the
Principal and/or interest, which shall be paid in arrears exceeding seven (7) Business Days from the effective day for its payment according
to the terms of the Debentures (Series F) for a reason dependent on the Company, the Company shall pay the Debenture Holders interest
in arrears (calculated pro rata for the period after the date scheduled for payment until the actual date of payment). &ldquo;<B>Interest
in Arrears</B>&rdquo; shall mean additional annual interest at a rate of 3.75% which shall be added to the annual interest rate which
the Debentures (Series F) shall bear at that time. The Company shall notify of the exact interest rate that will be paid, that will include
the interest in arrears plus the annual interest and of the date of payment as mentioned in an Immediate Report and at least two (2) Trading
Days before the actual payment date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">9.</TD><TD STYLE="text-align: justify"><U>Avoidance from Payment for a Reason that does not Depend on the Company</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">With respect to avoiding payment for
any reason that is not dependent on the Company, while the Company could have paid it fully and timely, the provisions of clause 15 of
the Deed of Trust shall apply and which are included in this addendum by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">10.</TD><TD STYLE="text-align: justify"><U>Registry of Debenture Holders</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">With respect to the registry of Debenture
Holders, the provisions of clause 30 of the Deed of Trust shall apply and that are included in this addendum by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">11.</TD><TD STYLE="text-align: justify"><U>Splitting Debenture Certificates and Transferring Them</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">11.1.</TD><TD STYLE="text-align: justify">The Debentures can be transferred regarding any nominal value sum provided that it will be in whole New
Shekels. Any transfer of Debentures (by a registered Holder) shall be done according to a transfer document which is made out in the version
acceptable for transferring shares, properly signed by the registered owner or his legal representatives, and by the recipient of the
transfer or his legal representatives, that shall be delivered to the Company at its registered office with the Debenture certificates
transferred according to it, and any other reasonable proof that shall be required by the Company for proving the right of the transferor
to transfer them.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">11.2.</TD><TD STYLE="text-align: justify">Subject to the aforesaid, the procedural provisions included in the Company&rsquo;s articles of association
with respect to the manner of transferring shares shall apply, mutatis mutandis respectively, with respect to the manner of transferring
Debentures and their assignment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">11.3.</TD><TD STYLE="text-align: justify">If any obligatory payment shall apply to the transfer document of the Debentures, reasonable proof shall
be given to the Company of their payment by the person requesting transfer.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">11.4.</TD><TD STYLE="text-align: justify">In the event of a transfer of only part of the sum of the Principal of the Debentures set forth in this
certificate, the certificate shall be split first to a number of Debenture certificates as required from this, in a manner that the total
sums of the Principal set forth in them shall be equal to the Principal sum set forth in this Debenture certificate.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">11.5.</TD><TD STYLE="text-align: justify">After fulfilling all of these terms the transfer shall be registered in the Registry and all of the terms
set forth in the Deed of Trust and in this Debenture shall apply to the transferee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">11.6.</TD><TD STYLE="text-align: justify">All costs and fees involved in the transfer shall apply to the transfer applicant.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">11.7.</TD><TD STYLE="text-align: justify">Each Debenture certificate may be split to a number of Debenture certificates that their total Principal
sum is equal to the Principal sum of the certificate the split of which is requested, and provided that such certificates shall not be
issued unless this is by a reasonable quantity at the discretion of the Company&rsquo;s board of directors. The split shall be made against
the delivery of that Debenture certificate to the Company at its registered office for the purpose of performing the split together with
a split request lawfully signed by the applicant. Any costs involved in the split, including taxes and levies, if such shall exist, shall
apply to the split applicant.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">12.</TD><TD STYLE="text-align: justify"><U>Replacing the Debenture Certificate</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In the event a Debenture certificate
shall become worn out, shall be lost or shall be destroyed, the Company shall be entitled to issue a new Debenture certificate in its
place, and this is under the same conditions with respect to proof, indemnification and covering the reasonable costs incurred by the
Company for clarifying regarding the ownership right of the Debentures, as the Company shall see fit, provided that in the event of the
certificate becoming worn out, the worn out Debenture certificates shall be returned to the Company before a new certificate is issued.
Levies and other expenses involved in issuing the new certificate, insofar as existing, shall apply to the person requesting such certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">13.</TD><TD STYLE="text-align: justify"><U>Early Redemption</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">With respect to early redemption of
the Debentures, the provisions of clause 8 of the Deed of Trust shall apply and which are included in this addendum by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">14.</TD><TD STYLE="text-align: justify"><U>Purchasing Debentures by the Company or an Affiliated Holder</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">With respect to the purchase of Debentures
by the Company or by an Affiliated Holder, see the provisions of clause 4 of the Deed of Trust which are included in this addendum by
reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">15.</TD><TD STYLE="text-align: justify"><U>Waiver; Settlement and Changes in the Debenture Terms</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">With respect to a waiver, settlement
and changes in the terms of the Debentures, the provisions of clause 28 of the Deed of Trust shall apply which are included in this addendum
by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">16.</TD><TD STYLE="text-align: justify"><U>Debenture Holders Meetings</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">With respect to the general meetings
of the Debenture Holders, they shall be convened and conducted in accordance with the provisions of clause 31 of the Deed of Trust which
are included in this addendum by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">17.</TD><TD STYLE="text-align: justify"><U>Receipts as Proof</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">For this matter see clause 16 of this
Deed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">18.</TD><TD STYLE="text-align: justify"><U>Immediate Repayment</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">With respect to immediate repayment
of the Debentures, the provisions of clause 9 of the Deed of Trust shall apply and which are included in this addendum by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">19.</TD><TD STYLE="text-align: justify"><U>Notices</U></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">With respect to notices, the provisions
of clause 27 of the Deed of Trust shall apply and which are included in this addendum by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></P>

<!-- Field: Page; Sequence: 58; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Appendix 3<BR>
Roles of the Trustee</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Ongoing Duties </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">1.</TD><TD STYLE="text-align: justify">Conducting a review based on the reports of the Company that
were published in MAGNA (the &ldquo;<B>Public Reports of the Company</B>&rdquo;) and based on the approvals and the documents that the
Company will provide to the Trustee in accordance with the provisions set forth in this Deed:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">1.1.</TD><TD STYLE="text-align: justify">That the payments of the interest and the principal by the Company
were made on time.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.2.</TD><TD STYLE="text-align: justify">The uses that the Company makes with the issue proceeds meet the That the use made by the Company of the
proceeds of the offering meet the objectives set out for these uses in the Deed of Trust and/or in the chapter concerning the offering
proceeds in the Shelf Offering Report, to the extent that such objectives were set.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.3.</TD><TD STYLE="text-align: justify">That the Company complies with the milestones that were set out in the Deed of Trust for its activities,
to the extent that there are any.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.4.</TD><TD STYLE="text-align: justify">If any of the causes for calling for immediate repayment arose, based on the Public Reports of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">2.</TD><TD STYLE="text-align: justify">Convening meetings of Debenture Holders in accordance with the
provisions set forth in the Second Addendum of the Deed of Trust.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Attendance (including in electronic means) in the meetings of the shareholders of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">Preparing an annual report regarding the affairs of the Trust, as stated in clause 21.1 of this Deed and
making the said report available for the inspection of the Debenture Holders, and preparing all reports that are required in accordance
with the law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">Notifying the Debenture Holders regarding a material breach of this Deed by the Company shortly after
becoming aware of the breach and notifying of the steps that the Trustee took to prevent it or for the performance of the Company&rsquo;s
undertakings, as the case may be.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">A review, from time to time and no less than once a year, of the validity of the collaterals (to the extent
that there are any) as stated in clause 12 hereunder. It is clarified that the Trustee shall be entitled, if it is of the opinion that
this is necessary for the purpose of conducting such a review, to inspect the assets of the Company that are pledged in favor of the Debenture
Holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify">A review, based on the Public Reports of the Company, and according to the approvals and the documents
that the Company will provide to the Trustee, in accordance with the provisions set forth in the Deed of Trust, of the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">7.1.</TD><TD STYLE="text-align: justify">That the Company fulfills its undertakings towards the Debenture Holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">7.2.</TD><TD STYLE="text-align: justify">That the Company fulfills its entire undertakings as set out in the Deed of Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">7.3.</TD><TD STYLE="text-align: justify">That the Company satisfies the financial covenants that were set out, to the extent that there are any,
in the Deed of Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">7.4.</TD><TD STYLE="text-align: justify">Whether there was a change in the registration of pledges that were registered in accordance with the
provisions of the Deed of Trust, to the extent that there are any.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">7.5.</TD><TD STYLE="text-align: justify">Whether there was a change in the rating of the Company or the rating of the Debentures, to the extent
that the Debentures were rated.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt"></P>

<!-- Field: Page; Sequence: 59; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify">To pay to the Debenture Holders sums out of the Financing Deposit, as defined in clause 25 of the Deed,
that were deposited with the Trustee for the purpose of this matter in accordance with the provisions set forth in the Deed of Trust,
to the extent that such sums were deposited.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify">To allow the replacement of Collaterals, to the extent provided and to the extent that the Deed of Trust
permits expressly such an action, according to the mechanism defined in the Deed of Trust, to the extent that such a mechanism was defined,
or in accordance with the provisions set forth in any law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.</TD><TD STYLE="text-align: justify">To release Collaterals, to the extent provided and to the extent that the Deed of Trust permits expressly
such an action, according to the mechanism set out in the Deed of Trust, to the extent that such a mechanism was defined.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11.</TD><TD STYLE="text-align: justify">The performance of any action that is required by law, including in accordance with the provisions set
forth in amendments 50 and 51 of the Securities Law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Special Duties </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">12.</TD><TD STYLE="text-align: justify">Performing all actions that are required for the purpose of ensuring the fulfillment of the undertakings
of the Company towards the Debenture Holders that are not stated in clauses 1-11 above, including taking all actions that are required
for the purpose of ensuring, prior to paying to the Company any sums on account the Debentures, the validity of collaterals that the Company
provided, to the extent that such collaterals were provided, or that a third party provided, to the extent provided, in favor of the Debenture
Holders; the Trustee shall be held liable towards the Debenture Holders for ensuring that the prospectus according to which the Debentures
were offered will provide a full and accurate description of the said collaterals.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">13.</TD><TD STYLE="text-align: justify">Extraordinary reviews following the occurrence of extraordinary events according to the Public Reports
of the Company (as defined in clause 1 above):</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">13.1.</TD><TD STYLE="text-align: justify">That the Company satisfies its undertakings towards the Debenture Holders, including the existence of
causes for calling for immediate repayment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">13.2.</TD><TD STYLE="text-align: justify">That the Company performs its entire obligations set out in the Deed of Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">13.3.</TD><TD STYLE="text-align: justify">That the Company complies with the financial covenants that were set out, to the extent that there are
any, in the Deed of Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">13.4.</TD><TD STYLE="text-align: justify">If any change occurred in the registration of pledges that were registered in accordance with the provisions
of the Deed of Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">14.</TD><TD STYLE="text-align: justify">To attend Debenture Holders Meetings, including by virtue of the Securities Law. To apply the resolutions
adopted by the Debenture Holders Meeting, including resolutions that impose on the Trustee any obligations and perform all actions and
proceedings that are required for the purpose of protecting the rights of the Debenture Holders, on the condition that the Trustee received
the proper financing for the purpose of implementing and performing such actions, to the extent required.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">15.</TD><TD STYLE="text-align: justify">To perform urgent actions that are required for the purpose of preventing a material adverse change in
the rights of the Debenture Holders, in circumstances in which it is not possible to wait for the convening of a Meeting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">16.</TD><TD STYLE="text-align: justify">To start negotiations with the Company, whether following the request of the Company and whether following
the request of the Debenture Holders, regarding requests or proposals made in connection with the provisions of the Deed of Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">17.</TD><TD STYLE="text-align: justify">In circumstances in which the Trustee is of the opinion that there is a reasonable concern that the Company
cannot pay the Debentures on time, to conduct extraordinary reviews in connection with the said circumstances and act for the purpose
of protecting the Holders in any manner that the Trustee will see fit; the Trustee shall be entitled to perform the following actions,
<I>inter alia</I>:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">17.1.</TD><TD STYLE="text-align: justify">To examine whether the said circumstances stem from actions or transactions that the Company performed,
including a distribution, as such term is defined in the Companies Law, that were committed in violation of the law; however, the Trustee
shall not conduct such a review as said if an expert, as such term is defined in Section 350R of the said law, whose duties are to conduct
such a review, was appointed for the holders of certificates of indebtedness.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">17.2.</TD><TD STYLE="text-align: justify">To conduct, in the name of the Debenture Holders, negotiations with the issuer, for the purpose of changing
the terms of the certificates of indebtedness.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">17.3.</TD><TD STYLE="text-align: justify">For the purpose of this matter, the convening of a meeting of holders of certificates of indebtedness
by the Trustee for purposes of receipt of instructions how to act, will not be deemed as breach of its duties, provided that the mere
convening of the Meeting shall not cause material infringement of the rights of the Holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">17.4.</TD><TD STYLE="text-align: justify">If a Meeting of Holders of certificates of indebtedness was convened as stated in sub-clause 17.3, and
a resolution was adopted in accordance with the law in the said Meeting, the Trustee shall act according to the said resolution; if the
Trustee acted in such manner as said, the action of the Trustee in accordance with the said resolution shall be deemed as compliance with
the provisions set forth in this clause related to the resolution.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">17.5.</TD><TD STYLE="text-align: justify">To distribute to the Debenture Holders, in accordance with the provisions set forth in the Deed of Trust,
sums that the Debenture Holders are entitled to receive that reached the Trustee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">17.6.</TD><TD STYLE="text-align: justify">To supervise the process of realization of the rights of the Debenture Holders if a functionary was appointed
for the Company or its assets.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>Appendix 5.2<BR>
Conditions for Expanding the Series of Debentures</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The conditions for expanding the series of Debentures
(Series F), which are required to be met in full for the purpose of the expansion, are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">Inasmuch as the Debentures shall be rated upon the performance of the expansion - the very expansion shall
not harm the rating of the Debentures of Series F that are in circulation (that is, Debentures (Series F) that are in circulation before
the expansion of the series), in a way that for purposes of expanding the series of the Debentures (Series F) an advance approval of the
rating company for rating the additional Debentures (Series F) will be received, in which the additional Debentures (Series F) were taken
into account, by a rating that does not fall from the rating of the Debentures (Series F) prior to the issuance of the additional Debentures
and also the approval of the rating company that issuing the additional Debentures (Series F) does not harm the rating of the existing
Debentures (Series F). Such approval shall be transferred to the Trustee before holding the tender for classified investors (to the extent
that the Company holds an institutional tender as said), holding a tender to the public (to the extent that the Company does not hold
an institutional tender) or performing the expansion of a series (to the extent that such an expansion is performed by way of a private
placement), and it shall be published by the Company in an Immediate Report (an Immediate Report which includes the approval/rating report
attesting to meeting the stated condition shall be considered for the purpose of this clause as delivery to the Trustee). The Trustee
shall rely on the rating company&rsquo;s notice and it shall not be required to an additional examination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">On the date of expanding the series of Debentures (Series F), the Company is not in breach of any of the
causes for immediate repayment set forth in clause 9 of the Deed of Trust, including as a result of the expansion of the series as said,
and it is not in breach of any of its material undertakings to the Holders of Debentures (Series F) in accordance with this Deed and will
not breach these undertakings as a result of the expansion of these undertakings, and in addition, the expansion of the series shall not
damage the Company&rsquo;s compliance with the financial covenants as set forth in clause 9.1.13 of the Deed of Trust, without taking
into account the Review Period (as such term is defined in sub-clause [5] of Appendix 6) with regards to those financial covenants, all
in accordance with the Company&rsquo;s last financial statements (as they are defined in clause 9 of the Deed of Trust) which were published
prior to the time of the additional issuance, and taking into consideration the additional Debentures that will be issued as a result
of the expansion of the series.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company shall deliver to the Trustee, no later
than 2 Business Days prior to holding the tender for classified investors, to the extent that the Company will hold an institutional tender
as said), holding the tender to the public (to the extent that the Company does not hold an institutional tender) or the performance of
the expansion of the series (to the extent that the expansion is performed by a private placement) a written approval signed by a senior
financial officer in the Company regarding the existence of all of these terms including calculations, all in a format to the Trustee&rsquo;s
satisfaction. The Trustee may rely upon an approval as stated and shall not be required to perform an additional inspection on its behalf.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is clarified that the Company&rsquo;s undertaking
as mentioned in this appendix shall apply only with respect to additional issues of the Debentures (Series F) by way of expanding the
series, and not with respect to issuing other series of debentures in circulation existing at that time by way of expanding the series
or with respect to issuing other new securities, whether these are rated or not, including by way of a prospectus, a shelf prospectus,
a shelf offering report and a private placement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Appendix 6.2<BR>
Financial Covenants and Undertakings</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Financial Covenants</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As long as Debentures (Series F) exist in circulation
(in other words as long as they were not paid in full in any manner, including by way of self-purchase and/or early redemption), the Company
undertakes (for the duration of the Review Period, as defined hereafter) as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">[1]</TD><TD STYLE="text-align: justify"><U>Definitions</U></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In this appendix the following terms shall have
the meaning set beside them:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Net Cap</B>&rdquo; means &ndash; the
Adjusted Balance Sheet Equity of the Company according to its last consolidated annual financial statements or last consolidated quarterly
financial results published before the day of calculation, with the addition of the Net Financial Debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Adjusted Balance Sheet Equity</B>&rdquo;
means &ndash; the consolidated equity according to the international finance reporting standards (IFRS), excluding changes in the fair
value of hedging transactions of electricity prices and interest, and including: (1) minority rights, (2) loans, capital notes and deferred
liability notes (principal and not interest) that, according to their terms, are inferior to the rights of the Debenture Holders (Series
F) so that the principal shall not be repaid until after the full and final payment of the Debentures (Series F), and (3) shareholders&rsquo;
loans (principal and not interest) that, according to their conditions, are inferior to the rights of Holders of Debentures (Series F).
For the purpose of this clause, shareholders&rsquo; loans, loans, capital notes and deferred liability notes shall be considered as inferior
to the Debentures only if according to their terms &ndash; (a) their repayment shall be conditioned on the fact that immediately upon
the actual repayment the Company shall meet the financial covenants pertaining to the performance of a distribution; (b) in case of declaring
immediate repayment of the Debentures (Series F) or in case of liquidation, they shall be repaid (principal and interest) only after the
complete repayment of the Debentures (Series F) and (c) on the condition that they shall not in an amount higher than 20% of the equity
balance of the Company at the time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Net Financial Debt</B>&rdquo; - short
term and long term debt from banks with the addition of debt towards holders of debentures that the Company or a subsidiary issued and
other interest-bearing financial obligations provided by entities engaging in the provision of credit, with the exception of: (1) financing
of projects, including hedge transactions in respect of such financing as said, whether in the level of the Company or in the level of
subsidiaries of the Company or associate companies of the Company or of the subsidiaries of the Company (it is clarified that within the
framework of the calculation of the financing of projects the Company also includes shareholders' loans that are provided for the purpose
of financing projects, from the Company or from third-parties); (2) options exercisable into the shares of the Company; (3) preferred
shares, to the extent that these cannot be redeemed by the holders, and there are no conditions in which the Company is required to perform
redemption however only redemption subject to the sole discretion of the Company; (4) &lsquo;lease agreement&rsquo; undertaking presented
according to the IFRS 16 reporting standard; and (5) other financial instruments whose redemption is subject to the sole discretion of
the Company and do not include a mechanism that enables the entity that provided the funds to make an early repayment or immediate repayment;
and all with deduction of the cash and cash equivalents, short-term investments, deposits, financial funds and negotiable securities,
to the extent that these are not restricted (with the exception of a restriction for the purpose of securing any financial debt according
to this definition); and all according to the annual consolidated financial statements of the Company or the consolidated quarterly financial
results of the Company. In the event the calculation result of the Net Financial Debt is negative, the Company is considered and will
be considered to have fulfilled the covenants based on the Net Financial Debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Adjusted EBITDA</B>&rdquo; means &ndash;
earnings before financing expenses, net, taxes, depreciation and amortization, where the revenues incomes from the Company&rsquo;s operations,
for example for the Talmei Yosef project, are calculated in accordance with the fixed asset model and not in accordance with the financial
asset model (IFRIC 12), and neutralizing expenses for share-based payment, when the data of assets or projects whose Commercial Operation
Date occurred in the four quarters that preceded the test date will be calculated based on Annual Gross Up. The Adjusted EBITDA shall
be calculated in accordance with the data of the four quarters prior to the time of the test, cumulatively, in accordance with the Company&rsquo;s
consolidated annual financial statements or its consolidated quarterly financial results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Annual Gross Up</B>&rdquo; shall mean
the division of the Adjusted EBITDA by the number of days in the period commencing on the Commercial Operation Date or on the purchase
date, as the case may be, and ending on the test date, multiplied by 365.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Commercial Operation Date</B>&rdquo;
&ndash; regarding projects for the construction of electricity production facilities owned by the Company (in whole or in part): the date
in which the construction of the project was completed and the project started providing electricity produced therein to the relevant
power grid; regarding systems under commercial operation that were purchased by the Company (in whole or in part): the date of their purchase.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">[2]</TD><TD STYLE="text-align: justify"><U>Minimal Adjusted Balance Sheet Equity</U></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">For the purpose of the cause for immediate repayment in clause 9.1.13 of the Deed: the Adjusted Balance
Sheet Equity of the Company, as defined above, according to the consolidated financial statements or the consolidated quarterly financial
results last published, shall not be less than 77 million Euros over a period of two consecutive quarters.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">For the purpose of adjusting the interest as set forth in clause 4.3.1 in the Terms on the Other Side
of the Page: the Adjusted Balance Sheet Equity of the Company, as defined above, according to the consolidated financial statements or
the consolidated quarterly financial results last published, shall be not less than 82 million Euros.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">[3]</TD><TD STYLE="text-align: justify"><U>The Ratio of Net Financial Debt to Net Cap:</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">a.</TD><TD STYLE="text-align: justify">For the purpose of the cause for immediate repayment in clause 9.1.13 of the Deed: the ratio of Net Financial
Debt to Net CAP shall not exceed 65% over a period of three consecutive quarters.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">b.</TD><TD STYLE="text-align: justify">For the purpose of adjusting the interest, as set forth in clause 4.3.1 of the Terms on the Other Side
of the Page: the ratio of Net Financial Debt to Net Cap shall not exceed 60%.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">[4]</TD><TD STYLE="text-align: justify"><U>The Ratio of Net Financial Debt to Adjusted EBITDA</U>:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">a.</TD><TD STYLE="text-align: justify">For the purpose of the cause for immediate repayment in clause 9.1.13 of the Deed: the ratio of Net Financial
Debt to Adjusted EBITDA shall not exceed 12 over a period of three consecutive quarters.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">b.</TD><TD STYLE="text-align: justify">For the purpose of adjusting the interest, as set forth in clause 4.3.1 of the Terms on the Other Side
of the Page: the ratio of Net Financial Debt to Adjusted EBITDA shall not exceed 11.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in"></P>

<!-- Field: Page; Sequence: 64; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->64<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">[5]</TD><TD STYLE="text-align: justify"><U>General</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The test of the Company&rsquo;s meeting each of
the financial covenants in respect of each quarter shall be performed upon publishing each financial statements or each financial results,
as the case may be, when in each of the stated reports, the Company shall state its meeting or its failure to meet each of the financial
covenants, including the numerical data.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As long as the Debentures (Series F) have not
yet been fully paid, the Company undertakes to inform the Trustee by a written notice signed by a senior financial officer in the Company
with a calculation of each of the financial covenants, all in a format to the Trustee&rsquo;s satisfaction, within 10 Business Days after
publishing any financial statement or financial results of the Company, regarding its meeting the terms of clauses [2] to [4] above. The
Trustee may rely on the Company&rsquo;s confirmation and it shall not be required to perform another examination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If it turns out that according to the financial
statements or the financial results, the Company did not meet any of its undertakings mentioned in sub-clauses [2] to [4] above (including),
and its failure to fulfill its undertakings as mentioned continued during the periods as stated in clauses [2](a), [3](a) or [4](a) above
(as the case may be: the &ldquo;<B>Review Period</B>&rdquo;), then the provisions of clause 9.1.13 of the Deed of Trust shall apply. It
is clarified that for the purposes of clause 9 of the Deed of Trust, the date in which the cause for calling for immediate repayment arises,
shall be deemed as the publication date of the financial statements (as such term is defined in clause 9 of this Deed) that are relevant
to the last date of the Review Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Compliance by the Company with any of the financial
covenants set forth in clauses [2]-[4] above, shall be calculated according to the accounting standard that applies to the Company in
accordance with the financial results for September 30, 2023 (hereinafter: the &ldquo;<B>Previous Accounting Principles</B>&rdquo;). The
Company shall publish in the framework of publishing its annual financial statements or financial results, as the case may be, the figures
on which it based the calculation of the ratio of Net Financial Debt to Net Cap and the data on which it has based the calculation of
the Adjusted EBITDA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If there shall be a Material Change to the Generally
Accepted Accounting Principles and/or regulatory changes pertaining to the Previous Accounting Principles, or in the event that the Company
adopts voluntarily an accounting standard and the adoption of the said standard causes a Material Change, the relevant tests in this Appendix
6.2 above shall be implemented in accordance with the financial statements (as they are defined in clause 9 of the Deed of Trust) prepared
in accordance with the Previous Accounting Principles, ignoring the changes as stated, and the Company shall furnish to the Trustee, upon
transferring the approval of its meeting the financial covenants as stated in this clause above, in each quarter, a report of adjustment
to the accounting principles applying to the Company in accordance with the Previous Accounting Principles, all in a format to the Trustee&rsquo;s
satisfaction. In the event of a change as said, the Company shall include in the financial statements (as such term is defined in clause
9 of this Deed) the data that the Company used for the purpose of substantiating the calculation of the financial covenants set out in
clauses [2] to [4] (including) above (pro forma report).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the purpose of this clause, &ldquo;<B>Material
Change</B>&rdquo; &ndash; means a change of at least 5% cumulatively, pertaining to all changes in accounting standards and regulation
which have applied, between the relevant standard as stated, as of the date of the financial statements, as it shall be calculated in
accordance with the Generally Accepted Accounting Principles which shall apply to the Company at the time of the financial statements,
and between the relevant standard, as of such date, as it shall be calculated in accordance with the Previous Accounting Principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Undertakings Pertaining to Distribution
</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As long as Debentures (Series F) shall exist in
circulation (in other words as long as they were not fully paid, including by way of a self-purchase and/or early redemption), the Company
shall be entitled to perform a distribution (as this term is defined in the Companies Law) including the distribution of dividends, to
its shareholders at any time, provided that in any event of such distribution all following conditions are met: (a) the Adjusted Balance
Sheet Equity of the Company according to its financial statements (as such term is defined in clause 9 of this Deed), after such distribution,
shall not be less than 94 million Euros, (b) the ratio of Net Financial Debt to Net Cap shall not exceed 58% after performing the distribution;
(c) the ratio of Net Financial Debt to Adjusted EBITDA after performing the distribution shall not exceed 9; (d) the Company shall not
distribute more than 60% of the profit appropriate for distribution, according to the Financial Statements of the Company; (e) the Company
shall not distribute a dividend on the basis of revaluation profits which were not yet realized (for the avoidance of doubt, negative
goodwill shall not be considered as revaluation profit); (f) the Company meets all its material undertakings to the Debenture Holders
in accordance with the provisions of this Deed; (g) at the time of the distribution as well as after the distribution there is no cause
for immediate repayment; and (h) no distribution shall be performed as long as a &ldquo;warning sign,&rdquo; as such term is defined in
the Securities Regulations (Periodic and Immediate Reports), 5730-1970, exists.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It shall be clarified that in case of adopting
a plan for repurchase of shares by the Company, the Company shall be required to meet the conditions set forth above upon adopting the
repurchase plan and with regards to the scope of the plan in its entirety and no additional check shall be performed of meeting any of
the aforementioned conditions in any case of performing a purchase under the plan adopted as stated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is hereby clarified, that any amount not actually
distributed in a certain calendar year, out of the maximal amount for distribution which the Company was entitled to distribution in accordance
with the stated in this sub-clause above, shall accumulate to the Company&rsquo;s credit, which shall be entitled to distribute it at
later times and until the full repayment of the Debentures, all subject to the provisions of Section 302 of the Companies Law and subject
to its meeting the full limitations of distribution set forth in this appendix above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No later than five Business Days after a decision
is made regarding the distribution as mentioned, the Company shall transfer to the Trustee confirmation signed by a senior financial officer
in the Company, regarding the Company meeting the limitations in this paragraph including detailed calculations, all in the format to
the Trustee&rsquo;s satisfaction. The Trustee may rely on the Company&rsquo;s confirmation and shall not be required to perform an additional
examination on its behalf.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as set forth in this clause, the Company
declares that as of the date of signing this Deed of Trust, it is not aware of any restrictions that could affect its ability to perform
a distribution in the future or to perform a repurchase of its shares, except for legal general restrictions that apply to performing
distributions in the Companies Law and except for restrictions that apply to the Company by the Deeds of Trust regarding the Debentures
(Series C, D and E) of the Company. Therefore, as long as the Company satisfies the conditions for the performance of the distribution,
distributions shall be performed (to the extent that distributions will be performed) at the sole discretion of the Company and for any
reason that the Company will see fit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It shall be clarified, that for the purpose of
inspecting the Company&rsquo;s meeting the terms set forth in this clause, the provisions stated in this appendix above regarding the
change in accounting standards shall apply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Undertakings Pertaining to Transactions
with Controlling Parties</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Until the full and final repayment of the Debentures
(Series F), to the extent that the Company shall fail to meet any of the financial covenants set forth in clauses [2](a), [3](a) or [4](a)
above, and so long as that failure has not been remedied, without taking into consideration the Review Period (as such term is defined
in sub-clause [5] of this annex) in connection with the said financial covenants, the Company shall not be entitled to enter into new
transactions with controlling parties without receiving the approval of the Debenture Holders in an Ordinary Resolution. It shall be clarified
that this limitation shall not apply in any of the following cases: (a) renewal of transactions under identical terms or terms which do
not benefit the controlling parties compared to the transactions existing on the date of the failure to meet the financial covenants,
(b) transactions pertaining to the terms of office or employment or providing management services on behalf of the controlling party,
his relative or anyone on his behalf under conditions that do not deviate from the transactions existing on the date of the failure to
meet the financial covenants or which do not deviate from the compensation policy of the Company as shall be in effect at the relevant
time, (c) investments in the Company&rsquo;s capital or loans or providing financing in any other way, in respect of which the Company
declares to the Trustee, 5 Business Days from the date of adopting a resolution for the purpose of this matter, that it is intended to
remedy the noncompliance of the Company with one or more covenants that are breached; (d) transactions which are under market terms as
shall be determined by the Company&rsquo;s audit committee, (e) transactions which are not extraordinary transactions as such term is
defined in the Companies Law, and (f) transactions which fall under the categories of reliefs which are set forth in the Companies Regulations
(Reliefs for Transactions with Interested Parties), 5760-2000, or any other reliefs as they shall be from time to time in accordance with
any law regarding transactions with controlling parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Appendix 20.2<BR>
Confidentiality Undertaking</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ellomay Capital Ltd. (hereinafter also: the &ldquo;<B>Company</B>&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Sir/Madam,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>Subject: Undertaking of Confidentiality</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">1.</TD><TD STYLE="text-align: justify">In the framework or with regards to my position as ___________ to the Holders of Debentures (Series F)
of Ellomay Capital Ltd. (hereinafter: &ldquo;<B>the Work</B>&rdquo;), I might receive or be exposed to information which is not public
knowledge, including, without limitation, information or professional, technical, financial, technological, commercial or other knowledge
pertaining directly and/or indirectly to the Company, the Company&rsquo;s subsidiaries or affiliates (as these terms are defined in the
Securities Law, 5728-1968 (hereinafter: &ldquo;<B>the Securities Law</B>&rdquo;)), to corporations in the Company&rsquo;s group (associate
companies and corporations in which any of the entities as stated in this clause have holdings) and/or to holders of controlling interests
in the Company (hereinafter jointly: &ldquo;<B>the Group</B>&rdquo;), procedures and/or methods of work and/or activity of the Group as
well as commercial and business information of any other type which is not public knowledge (hereinafter jointly: &ldquo;<B>Confidential
Information</B>&rdquo;). Despite the foregoing, the term Confidential Information shall not include information as stated above, which
I could prove, that: (1) it is public knowledge (including information publicly published by you or by holders of controlling interests
within you) or which shall become public knowledge not due to breaching the provisions of this confidentiality undertaking; or (2) which
was known to us prior to its disclosure by the Company and we can provide reasonable proof thereof; or (3) that it was given to us by
a third party, provided that upon receiving the information as stated we were not aware, having asked its provider, that the disclosure
of that information by that third party constitutes a breach of the fiduciary duty by that third party towards the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">2.</TD><TD STYLE="text-align: justify">I am aware that I am prohibited from disclosing the Confidential Information to any person, and that I
shall not be entitled to use the Confidential Information for any purpose, unless it is for the Work. Despite the foregoing, I shall be
entitled (a) to deliver conclusions and evaluations based on the Confidential Information to Holders of Debentures (Series F) of the Company
(including presenting it in the Meetings of Debenture Holders for the purpose of adopting a resolution pertaining to their rights), provided
that the reliance upon information as stated shall be limited to the minimal extent and scope required in order to meet the requirements
of the law, and that I have given a notice to the Company in this regard a reasonable time in advance, in order to give the Company sufficient
leave to approach the court in order to prevent the delivery of conclusions and evaluations as stated, to the extent that this is without
prejudice to the rights of the Debenture Holders; (b) to deliver conclusions and evaluations based on the Confidential Information to
the representing body of the Debenture Holders, which shall be duly appointed by the Debenture Holders, provided that all members of the
representing body (inasmuch as there shall be any) have signed a declaration regarding the absence of a conflict of interests or non-competition
with the Company, and to enable the representing body of Debenture Holders as stated, to view the Confidential Information in our office;
(c) to disclose Confidential Information, inasmuch as I shall be required to do so by law or at the request of a competent authority by
law and/or in accordance with a judicial order, provided that the disclosure is limited to the minimal extent and scope required in order
to meet the requirements of the law and I shall pre-coordinate with you, inasmuch as it is possible and permitted, and to the extent that
this is without prejudice to the rights of the Debenture Holders, the content and timing of the disclosure in order to give you sufficient
leave to defend against such as request.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt"></P>

<!-- Field: Page; Sequence: 67; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->67<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">3.</TD><TD STYLE="text-align: justify">In addition to permitted delivery of Confidential Information as stated in clause 2, and without derogation
to the stated therein, disclosing Confidential Information shall be done only to my employees and/or authorized representatives on my
behalf, including my professional consultants alone. I am aware, that disclosure or use on a need-to-know basis by an authorized receiver
(hereinafter: &ldquo;<B>Authorized Receiver</B>&rdquo;) not in accordance with the provisions of this letter is treated as disclosure
or use as stated by myself, and I shall take all means required to keep the Confidential Information confidential. My undertaking herein
shall not apply to an Authorized Receiver who shall sign an undertaking of confidentiality similar by all material aspects to the undertaking
set forth in this letter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">4.</TD><TD STYLE="text-align: justify">I am aware that disclosing the Confidential Information to any person or body might be contrary to the
Israeli securities laws. I am aware, that due to my exposure to the Confidential Information, various limitations might apply to me if
I shall receive inside information, as this term is defined in the Israeli Securities Law, and I am taking and I shall take all reasonable
means to ensure that there shall be no prohibited use of inside information pertaining to the Confidential Information.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">5.</TD><TD STYLE="text-align: justify">All documents which shall be given to me by you or which shall arrive in my possession as a result and/or
pertaining to my engagement with you, and which are related, directly or indirectly, to the Group and/or its activity (including any copy
or processing thereof) (hereinafter jointly: &ldquo;<B>the Documents</B>&rdquo;) shall belong to you at all times and shall be considered
as your property for all matters and purposes, and shall be returned to you by me at your request immediately upon the termination of
the Work, apart from the information which I shall keep in accordance with the provisions of any law, including the instructions of a
competent authority, or in accordance with internal procedures, inasmuch as it is required for the purpose of documenting work processes.
For the purpose of the stated in my undertaking herein, the term Documents shall be interpreted to include any means of holding information
whatsoever, including, but without derogation from the generality of the foregoing, physical, mechanical, magnetic, electronic, optic
and/or electro-optic means.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">6.</TD><TD STYLE="text-align: justify">My undertaking in accordance with this letter shall remain effective even after the termination of the
Work for any reason whatsoever, and until the Confidential Information becomes public (not due to breaching the undertaking in accordance
with this letter, inasmuch as there shall be any). My undertakings in accordance with this letter of confidentiality are irrevocable and
cannot be cancelled and they are in addition and not instead of any duty imposed on me by law and/or pursuant to any other agreement.
My signature on this undertaking does not grant me any right to perform the Work, and the terms of employment shall be arranged in separate
documents between us.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">7.</TD><TD STYLE="text-align: justify">I shall keep the information in complete secrecy, at least at the same level of care by which I keep my
own confidential information, and for this purpose I shall take a reasonable level of care at least.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">8.</TD><TD STYLE="text-align: justify">It is clarified, that subject to the provisions of the Securities Law, the stated in this undertaking
does not bind the Company to disclose any information whatsoever, and any disclosure and delivery to us shall be at the Company&rsquo;s
absolute discretion.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">9.</TD><TD STYLE="text-align: justify">My undertakings in this document are towards each and every of the corporations in the Group, the Confidential
Information of which shall be given to me.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">10.</TD><TD STYLE="text-align: justify">If any instance or authority whatsoever shall determine that any of the undertakings in this document
are not valid &ndash; the undertaking shall be minimized up to the rate permittee by law at that time, and a determination as stated shall
not harm the other undertakings and rights in accordance with this document.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Respectfully</B>,&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 32%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 32%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 32%; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Full name</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>ID number</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Signature</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<!-- Field: Page; Sequence: 68; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->68<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Appendix 23<BR>
The Trustee&rsquo;s Fee and Covering its Expenses</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD STYLE="text-align: justify">The Company shall pay fee to the Trustee for its services in
accordance with the Deed of Trust for the Debentures, as set forth hereafter:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.1.</TD><TD STYLE="text-align: justify">Annual payment in the amount of NIS 20,000 for the first year of trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.2.</TD><TD STYLE="text-align: justify">Annual payment in the amount of NIS 18,000 for each additional year of trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The amount in this clause 1.2 is stipulated
on the condition that the Trustee will act, at the least, as a trustee for 2 series of Debentures of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">To the extent that the Trustee is
a trustee for one series, as of this date the said amount will be increased to NIS 20,000 a year (in respect of the entire year or a part
thereof). The amounts in clause 1.1 and/or 1.2 shall be referred as the &ldquo;<B>Annual Fee</B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">The Annual Fee shall be paid to the Trustee at the beginning of each trust year. The Annual Fee shall
be paid to the Trustee for the period until the end of the trust period according to the terms of the Deed of Trust, even if a receiver
and/or receiver manager was appointed for the Company and/or if the trust according to the Deed of Trust shall be managed under the supervision
of the court.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">In the event that the Trustee shall participate in the discussions with the Securities Authority the Trustee
will receive fees (for the rate stipulated in clause 6 hereafter), in accordance with the hours of the discussions the Trustee will participate
in, including a refund of travel costs. This payment is not conditioned upon the issue of the Debentures or signing the Deed of Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">In the event the term of the Trustee has expired as mentioned in the Deed of Trust, the Trustee shall
not be entitled to the payment of its fee starting on the date that its office has expired. If the Trustee&rsquo;s office has expired
during the trust year the fee paid to it for the months that it did not serve as Trustee of the Company shall be returned. The provisions
in this clause shall not apply regarding the first trust year.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">The Trustee is entitled to reimbursement for the reasonable expenses that it shall expend in the framework
of fulfilling its duties, and/or pursuant to the powers granted to it according to the Deed of Trust, including, but not limited to, expenses
and costs for calling and convening meetings of Debenture Holders, reimbursement for transactions in the bank account of any kind including
bank charges, issuance of printouts and powers of attorney, sale of securities and delivery of documents, courier services, photocopying
and travel.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">6.</TD><TD STYLE="text-align: justify">In addition, the Trustee will be paid a fee in NIS equal to
NIS 600, for each work hour due to special actions that will be made not in the ordinary course of business or due to the action of calling
the Debentures for immediate repayment and due to special actions that it will be required to perform, if required, for purposes of performing
its duties pursuant to this Deed (and all without derogating from the generality of the foregoing), that it will perform within the framework
of its role as the trustee (all subject to the provisions of the Deed of Trust) and including:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.1.</TD><TD STYLE="text-align: justify">Actions resulting from a breach or fear of breach of the provisions of the Deed by the Company and its
undertakings including examining the circumstances that raise the concern and/or breach and actions for the protection of the rights of
Holders;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: -0.3in"></P>

<!-- Field: Page; Sequence: 69; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->69<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.2.</TD><TD STYLE="text-align: justify">Actions in connection with making the Debentures immediately repayable;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.3.</TD><TD STYLE="text-align: justify">Special actions that it will be required or will need to perform, for purposes of fulfilling its duties
in accordance with this Deed in connection with the rights of Debenture Holders and for protecting them, including due to the non-compliance
of the Company with its obligations pursuant to this Deed, convening Debenture Holders Meetings as said in this Deed and including due
to participation in Debenture Holders Meetings and implementing the resolutions of the Debenture Holders Meetings that obligate the Trustee
and taking all proceedings and actions required for the protection of the Debenture Holders;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.4.</TD><TD STYLE="text-align: justify">Special works (including, but not limited to, works required due to a change of structure of the Company
or work due to the request of the Company) or due to the need to perform additional actions for the fulfillment of its role as a reasonable
trustee, due to a future change in laws (including regulations promulgated following amendments 50 and 52 to the Securities Law) and/or
regulations and/or other obligatory instructions that will apply in connection with the actions of the Trustee and its responsibility
pursuant to this Deed of Trust;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.5.</TD><TD STYLE="text-align: justify">Urgent actions required to prevent a material adverse impact on the rights of Debenture Holders where
it is not possible to wait for the convening of a Meeting;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.6.</TD><TD STYLE="text-align: justify">Opening a negotiation with the Company in the event the Company plans on approaching the Debenture Holders
in requests or proposals;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.7.</TD><TD STYLE="text-align: justify">Holding in the name of the Debenture Holders, negotiations with the Company to amend the terms of the
Debentures;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.8.</TD><TD STYLE="text-align: justify">Payment of funds to the Debenture Holders that have reached its hands including out of the finance cushions
to the extent deposited in the hands of the Trustee for the performance of its duties including but not limited to for purposes of indemnification
and/or performance and taking of legal procedures and payment of funds to the Debenture Holders that have reached its hands;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.9.</TD><TD STYLE="text-align: justify">Taking procedures for purposes of exercising the rights of Debenture Holders and/or for the realization
of Collaterals including overseeing the process for exercising the rights of Debenture Holders where an office holder was appointed for
the Company or its assets;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">6.10.</TD><TD STYLE="text-align: justify">Actions in connection with the Collaterals to the extent there
will be in the future including actions within the framework of creating the collaterals, registering them, amending, replacing, adding
collateral checking their validity, realizing and enforcing them. Actions in connection with the obligations of the Company and the pledging
companies pursuant to this Deed and the collateral documents including, checking the compliance of the Company with the financial covenants,
examinations in connection with the companies&rsquo; actions such as, expansion of the series, release of securities, exchanging of securities
and more. Actions in connection with registering the collaterals in return for the release of the issuance or expansion funds.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">With regard to the obligation of the Trustee to attend the meetings of shareholders of the Company pursuant
to Section 35 of the Securities Law, the Trustee shall receive an additional amount of NIS 500 per meeting for each meeting that the Trustee
will attend.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">In the event that the series is increased, the annual fee paid to the Trustee will be increased (in respect
of each year or a part thereof) notwithstanding anything to the contrary in clauses 1.1 and 1.2 above, for the same rate in which the
series was increased with relation to the par value on the initial public offering of the Debentures, however in any event the Trustee
will not receive annual fee exceeding an addition of 50% of the annual fee as stated in clauses 1.1 and 1.2 above.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">9.</TD><TD STYLE="text-align: justify">This agreement is based on the understanding that the Debentures are without Collaterals. However, in
the event the Holders of the Debentures (Series F) will be provided with any collaterals or any other undertaking that the Trustee is
to examine, then the fees for the Trustee will be agreed based on the scope of hours it will be required to dedicate to the trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">10.</TD><TD STYLE="text-align: justify">VAT if applicable, shall be added to the payments due to the Trustee, according to the provisions of this
appendix and it shall be paid by the Company. The sums in this Appendix will be linked to the consumer price index, when the base index
shall be the index known on the date of this Deed of Trust however in any event no amount in arrears lower than the amount set out in
this Appendix shall be paid. Each payment will be paid to the Trustee shortly after the date of receiving the demand for payment, however
in any event no later than 30 days as of the date of the demand.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">***</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 70; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->70<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Second Addendum &ndash; Meeting of Debenture
Holders</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to the provisions of the Securities Law,
convening a Meeting of Debenture Holders, the manner of conducting it and various terms regarding it, shall be as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Summoning a Meeting</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">The Trustee shall summon a Debenture Holders Meeting for each series separately (&ldquo;<B>Annual Meeting</B>&rdquo;)
each year and no later fourteen (14) days after the second annual report regarding trust matters (as mentioned in clause 21 of the Deed
of Trust) was submitted, which shall be convened no later than sixty (60) days after the report was submitted. The agenda of the Annual
Meeting shall include the appointment of the Trustee for the period that shall be determined (unless the prior Meeting determined a longer
appointment time), a discussion of the annual report regarding trust matters as well as any other subject included in the agenda as stated
in Section 25L2 of the Securities Law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">The Trustee shall convene a Meeting of the Debenture Holders if it saw a need for this, or according to
a written request of Debenture Holders that hold, alone or together, at least five percent (5%) of the balance of the nominal value of
the Debentures in circulation of that series.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">In the event those requesting to summon a Meeting are Debenture Holders, the Trustee shall be entitled
to demand indemnification from them, including in advance, for the reasonable costs involved in this.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">The Trustee who was required to summon a Debenture Holders Meeting in accordance with the provisions of
clause 2, shall summon it within 21 days after a demand to summon it was submitted to the Trustee, to a date that shall be determined
in the summons, provided that the convening date shall not be earlier than seven days and not later than 21 days from the summons date;
however, the Trustee is entitled to bring the meeting forward, to at least one day after the summons date, if it thought that this was
required in order to protect the Debenture Holders rights and subject to the provisions of clause 21 hereafter; if it did so, the Trustee
shall explain the reasons for bringing the convening date forward in the report regarding the summoning of the Meeting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">The Trustee may, at its reasonable discretion, change the scheduled meeting time of a Meeting convened
by him as well as per the Company&rsquo;s request, in case the Meeting was summoned by the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">In the event the Trustee convened a Meeting of the Debenture Holders not according to the request of the
Debenture Holders the Trustee is entitled to determine that the Meeting shall take place by electronic means.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">If the Trustee did not summon the Debenture Holders Meeting, according to the demand of the Debenture
Holder, within such time as mentioned in clause 1.4 above, the Debenture Holder may convene the Meeting, provided that the scheduled Meeting
shall be within 14 days, after the end of the period for summoning the Meeting by the Trustee and the Trustee shall bear the expenses
that the Debenture Holder expended with respect to convening the meeting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">If the Debenture Holders Meeting was not convened as mentioned in clauses 1 or 2 above, the court may
at the request of the Debenture Holder, order that it be convened.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">9.</TD><TD STYLE="text-align: justify">If the court ordered as mentioned in clause 8, the Trustee shall bear reasonable costs that the applicant
expended in a court proceeding, as shall be determined by the court.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>

<!-- Field: Page; Sequence: 71; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->71<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">10.</TD><TD STYLE="text-align: justify">The Company is entitled to convene, at any time, a Meeting of Debenture Holders in coordination with the
Trustee. If the Company summons a Meeting as stated, it must immediately send the Trustee a written notice regarding the place, day and
time on which the Meeting shall take place, as well as the subjects to be brought up for discussion therein, and the Trustee or a representative
on its behalf shall be entitled to participate in a Meeting as stated without having the right to vote.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">11.</TD><TD STYLE="text-align: justify">Where there is no practical possibility to convene a Debenture Holders Meeting or to conduct it in the
manner determined for this in the Deed of Trust or in the Law, the court may, at the request of the Company, of a Debenture Holder that
is entitled to vote in the Meeting or the Trustee, to order that a Meeting be convened and conducted in the manner as the court shall
determine, and it may give supplementary instructions for this insofar as it shall see fit.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Flaws in Convening the Meeting</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">12.</TD><TD STYLE="text-align: justify">The court may, at the request of a Debenture Holder, order the cancellation of a resolution that was adopted
in a Debenture Holders Meeting that was convened or conducted without fulfilling the requirements in the Law or according to this Deed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">13.</TD><TD STYLE="text-align: justify">If the flaw in convening the Meeting concerns a notice regarding the place of convening the Meeting or
its scheduled time, a Debenture Holder that attended the Meeting despite the flaw, shall not be entitled to demand the cancellation of
the resolution.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Notice of Convening a Meeting</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">14.</TD><TD STYLE="text-align: justify">A notice of a Meeting of the Debenture Holders shall be published according to the provisions of chapter
G1 of the Law (&ldquo;<B>Electronic Reporting</B>&rdquo;) and it shall be delivered to the Company by the Trustee before the reporting
and in accordance with the provisions in the regulations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">15.</TD><TD STYLE="text-align: justify">The summons notice shall include the agenda, the proposed resolutions and arrangements regarding a written
vote according to the provisions of clauses 28 and 30 hereafter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>The Meeting&rsquo;s Agenda</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">16.</TD><TD STYLE="text-align: justify">The Trustee shall determine the agenda in the Debenture Holders Meeting and it shall include issues for
which the Debenture Holders Meeting is required according to clauses 1 and/or 2 above, and a subject for which it was requested as mentioned
in clause 18 of the Debenture Holder&rsquo;s request.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">17.</TD><TD STYLE="text-align: justify">Inasmuch as a Meeting shall be summoned in accordance with clause 10 above, the Company shall determine
the Meeting&rsquo;s agenda.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">18.</TD><TD STYLE="text-align: justify">A Debenture Holder, one or more, that has five percent (5%) at least of the balance of the nominal value
of the series of Debentures may request the Trustee to include an issue on the agenda of the Debenture Holders Meeting that shall be convened
in the future, provided that the issue is suitable to be discussed in the Meeting as mentioned.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">19.</TD><TD STYLE="text-align: justify">In the Debenture Holders Meeting resolutions shall be adopted in issues as set forth in the agenda only.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Place of Convening the Meeting</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">20.</TD><TD STYLE="text-align: justify">The Debenture Holders Meeting shall take place in Israel at the Company&rsquo;s offices or another place
which the Trustee shall notify of. The Trustee may change the address of the Meeting. The Company shall bear the costs of convening the
Meeting at an address which is not its office.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>The Record Date for Ownership of the Debentures</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">21.</TD><TD STYLE="text-align: justify">Debenture Holders that are entitled to participate and to vote in the Debenture Holders&rsquo; Meetings
are Holders of Debentures at the time that shall be determined in the decision to summon a Debenture Holders Meeting, provided that this
date shall not exceed three days before the date of convening the Debenture Holders Meeting and it shall not be less than one day before
the convening date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>

<!-- Field: Page; Sequence: 72; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->72<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>The Chairman of the Meeting</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">22.</TD><TD STYLE="text-align: justify">In each Debenture Holders Meeting the Trustee or whomever it appointed shall serve as chairman of that
Meeting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">23.</TD><TD STYLE="text-align: justify">The Trustee shall prepare a protocol of the Meeting of the Debenture Holders and shall keep it at its
registered office for a period of seven (7) years after the Meeting date. The protocol of the Meeting may be by way of recording. A protocol,
insofar as made in writing, shall be signed by the chairman of the Meeting or by a chairman of the Meeting that was held after it. Each
protocol that was signed by the chairman of the Meeting constitutes prima facie evidence to whatever is stated in it. The protocol registry
shall be kept with the Trustee as mentioned, and it shall be open for viewing by the Debenture Holders during work hours and with advance
coordination and a copy of it shall be sent to any Debenture Holder that shall request this.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">24.</TD><TD STYLE="text-align: justify">The declaration of the chairman of the Meeting that a resolution in the Debenture Holders Meeting was
adopted or rejected, whether unanimously or by a certain majority, shall be prima facie evidence to whatever is stated in it.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Legal Quorum; Deferred or Adjourned Meeting</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">25.</TD><TD STYLE="text-align: justify">A Meeting of the Debenture Holders shall be opened by the chairman of the Meeting after he has determined
that the legal quorum required for any of the issues on the agenda of the Meeting exists, as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">25.1.</TD><TD STYLE="text-align: justify">The legal quorum required for opening a Meeting of the Debenture
Holders shall be the presence of at least two Debenture Holders, who are present themselves or by their proxies, that hold at least twenty
five percent (25%) of the voting rights in circulation, within half an hour of the time that was scheduled for opening the Meeting, unless
stipulated otherwise in the Law.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -31.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">25.2.</TD><TD STYLE="text-align: justify">If a legal quorum was not present in the Debenture Holders Meeting at the end of half an hour after the
time scheduled for the beginning of the Meeting, the meeting shall be deferred to another time which shall not be earlier than two Business
Days after the record date that was determined for convening the original meeting or one Business Day, if the Trustee was of the opinion
that this is required for protecting the rights of the Debenture Holders; if the Meeting was deferred, the Trustee shall explain the reasons
for this in the Meeting summons report.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -31.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">25.3.</TD><TD STYLE="text-align: justify">If a legal quorum was not present in the deferred Debenture Holders Meeting as mentioned in clause 25.2
above, half an hour after the time that was scheduled for it, the Meeting shall be convened with any number of participants, unless stipulated
otherwise in the Law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -31.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">25.4.</TD><TD STYLE="text-align: justify">Notwithstanding the provisions in clause 25.3 above, in the event a Debenture Holders Meeting was summoned
according to the demand of Debenture Holders that hold five percent (5%) at least of the balance of the nominal value of the Debentures
in circulation, the deferred Meeting shall be convened only if holders of certificates of undertaking were present in it at least in the
number required for summoning a Meeting as mentioned (in other words: five percent (5%) at least of the balance of the nominal value of
the Debentures in circulation).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -31.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">26.</TD><TD STYLE="text-align: justify">According to the decision of the Trustee or resolution by ordinary majority of those voting in a Meeting
in which a legal quorum was present, the continuation of the Meeting adjourned (the &ldquo;<B>Original Meeting</B>&rdquo;) from time to
time, the discussion or adopting a resolution in an issue that was set forth in the agenda, to another time and to a place that shall
be determined as the Trustee or the aforementioned Meeting shall decide (the &ldquo;<B>Continued Meeting</B>&rdquo;). In the Continued
Meeting and in the deferred meeting only matters that were on the agenda and in respect to which no resolution was adopted shall be discussed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">If a Debenture Holders Meeting was
deferred without changing its agenda, summons shall be given regarding the new time for the Continued Meeting, as early as possible, and
no later than 12 hours before the Continued Meeting; the summons as mentioned shall be given according to clauses 14 and 15 above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->73<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Participations and Voting</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">27.</TD><TD STYLE="text-align: justify">The Trustee, at its reasonable discretion and subject to the provisions of any law, shall be entitled
to split the Meeting into class meetings and to determine who shall be entitled to participate in each type of meeting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">28.</TD><TD STYLE="text-align: justify">A Debenture Holder is entitled to vote in Debenture Holders Meetings by himself or by proxy as well as
by a voting deed in which he shall state the manner of his voting, and in accordance with the provisions of clause 30 hereinafter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">29.</TD><TD STYLE="text-align: justify">A resolution in the Debenture Holders Meeting shall be made by a count of votes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">30.</TD><TD STYLE="text-align: justify">A voting deed shall be sent by the Trustee to all of the Debenture Holders; a Debenture Holder may note
the manner of his vote in the voting deed and send it to the Trustee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">A voting deed in which the Debenture
Holder noted the manner of his vote, and which reached the Trustee by the last date determined for this, shall be considered as presence
in the Meeting with respect to the existence of a legal quorum as mentioned in clause 25 above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The voting deed that was received by
the Trustee regarding a certain matter in respect to which a vote was not held in the Debenture Holders Meeting, shall be considered as
having abstained in the vote in that Meeting regarding a resolution to convene a deferred Debenture Holders Meeting according to the provision
of clause 26 above, and it shall be counted in the deferred Meeting that shall be convened according to the provisions of clauses 26 or
25.3 and 25.4 above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">31.</TD><TD STYLE="text-align: justify">Each 1 NIS nominal value of the Debentures that are represented by vote shall confer one vote in the voting.
In case of joint Debenture Holders, only the vote of the person registered first in the registry shall be counted.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">32.</TD><TD STYLE="text-align: justify">A Debenture Holder may vote for part of the Debentures held by him including voting for some of them in
favor for the proposed resolution and for another part of them against the resolution, all as he shall see fit.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">33.</TD><TD STYLE="text-align: justify">The holdings of an Affiliated Holder shall not be taken into account for determining the legal quorum
in the Debenture Holders Meetings, and his votes shall not be taken into account in the vote of the Meeting as mentioned.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Resolutions</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">34.</TD><TD STYLE="text-align: justify">Resolutions in the Debenture Holders Meetings shall be adopted by a vote of an ordinary majority by a
count of votes, unless another majority was determined in the Law or in the Deed of Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">35.</TD><TD STYLE="text-align: justify">The votes of those who have abstained in the vote shall not be counted in the number of votes participating
in the vote.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">36.</TD><TD STYLE="text-align: justify">A proposed resolution regarding an issue that was not determined in respect to it that it shall be decided
by a certain majority as following hereafter, shall be decided in an ordinary resolution.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>

<!-- Field: Page; Sequence: 74; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->74<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">37.</TD><TD STYLE="text-align: justify">The issues hereafter shall be decided in a Debenture Holders Meeting by a majority which is not ordinary
and/or by a legal quorum that is different than the one set forth in clause 25, <B>and these are the issues</B>:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">37.1.</TD><TD STYLE="text-align: justify">Change, including an addition and/or amendment in the provisions
of the Deed of Trust as mentioned in clause 27 of the Deed of Trust.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -31.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">37.2.</TD><TD STYLE="text-align: justify">Any other issue in respect to which it was determined in the Deed of Trust that it is subject to a resolution
by a majority that is not an ordinary majority.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -31.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">37.3.</TD><TD STYLE="text-align: justify">A resolution regarding the replacement of a, shall be adopted by a majority of fifty percent (50%) at
least of the unpaid balance of the Debentures in circulation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Voting and Actions by Agent/Proxy</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">38.</TD><TD STYLE="text-align: justify">An appointment instrument appointing an agent shall be in writing and it shall be signed by the appointer
or by his proxy that has authorization to do so lawfully in writing. If the appointer is a corporation, the appointment instrument shall
be made in writing and will be signed by a stamp of the corporation, with a signature of the authorized signatories of the corporation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">39.</TD><TD STYLE="text-align: justify">An appointment instrument of the agent shall be made in any form which shall be acceptable by the Trustee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">40.</TD><TD STYLE="text-align: justify">An agent does not need to be a Debenture Holder himself.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">41.</TD><TD STYLE="text-align: justify">An appointment instrument and power of attorney and any other certificate according to which an appointment
instrument was signed or a certified copy of such power of attorney, shall be given to the Trustee by the time of convening the Meeting
unless it was otherwise stipulated in the notice summoning the Meeting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">42.</TD><TD STYLE="text-align: justify">The Trustee shall participate in the Meeting via its employees, officers, functionaries or another person
that shall be appointed by it, however it shall not have a voting right.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">43.</TD><TD STYLE="text-align: justify">The Company and any other person except for the Trustee shall be prevented from participating in the Debenture
Holders Meeting or in any part of it, according to the decision of the Trustee or according to an ordinary resolution of the Debenture
Holders. Despite the stated in this clause, the Company could participate in the opening of a Meeting for the purpose of expressing its
opinion regarding any subject on the Meeting&rsquo;s agenda and/or presenting a certain subject (as the case may be).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Approaching Debenture Holders</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">44.</TD><TD STYLE="text-align: justify">The Trustee, and the Debenture Holder, one or more, that has five percent (5%) at least of the balance
of the nominal value of the Debentures in circulation, are entitled to address the Debenture Holders in writing, via the Trustee, in order
to convince them regarding the manner of their vote in any of the issues being raised for discussion in that Meeting (the &ldquo;<B>Position
Paper</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">45.</TD><TD STYLE="text-align: justify">If a Debenture Holders Meeting was summoned in accordance with clause 2 above, a Holder is entitled to
approach the Trustee in a request to publish, in accordance with the provisions of Chapter G.1 of the Law, Position Papers on his behalf
to the other Debenture Holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">46.</TD><TD STYLE="text-align: justify">The Trustee or the Company are entitled to send Position Papers to Debenture Holders, as a response for
a Position Paper sent as stated in clauses 44 and 45 above, or in response to any other inquiry towards the Debenture Holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>

<!-- Field: Page; Sequence: 75; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->75<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNOFFICIAL TRANSLATION FROM HEBREW</FONT></TD></TR><TR STYLE="vertical-align: top"><TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 4pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">THE BINDING VERSION IS THE HEBREW VERSION</FONT></TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Examining Conflicts of Interests</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">47.</TD><TD STYLE="text-align: justify">The votes of a Debenture Holder who is the controlling shareholder in the Company, his family member or
a corporation controlled by any thereof shall not be counted in the count of the votes, and these Debentures shall not entitle to vote
in the general meetings of the Debenture Holders as long as they are held by such a person as said.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">48.</TD><TD STYLE="text-align: justify">Save as provided in clause 47 above, the Trustee will take into consideration in the count of the votes
the votes of all voters, except for the votes of the Debenture Holders who state in the ballot that their vote should not be considered
as a result of a conflict of interests these Debenture Holders have, and the Trustee will not independently examine their personal interest.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">49.</TD><TD STYLE="text-align: justify">It is clarified that the examination of the conflict of interests as said above, to the extent that it
is necessary in the opinion of the Trustee, will be made separately with relation to each of the decisions on the agenda of the meeting,
and separately with relation to each meeting. It is further clarified that the declaration of a Holder as having a conflict of interests
in any decision or meeting, in and of itself, shall not attest to a conflict of interests of that Debenture Holder in another decision
on the agenda of the meeting or his conflict of interests in other meetings.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Convening a Meeting of Debenture Holders
for Consulting</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">50.</TD><TD STYLE="text-align: justify">The provisions of clauses 2, 7, 16, 18 and 19 above cannot derogate from the Trustee&rsquo;s authority
to convene a Debenture Holders Meeting, if it saw it necessary to consult with them; in the summons to the Meeting as mentioned the issues
on its agenda shall not be detailed, and the date of the Meeting shall be one day at least after the summons date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In such meeting a vote shall not take
place, no resolutions shall be adopted in it and the provisions of clauses 2, 4, 7, 8, 9, 15, 16, 18, 19, 21, 25, 26, 28, 30 and 45 shall
not apply to it and as set forth in the law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">76</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-8
<SEQUENCE>6
<FILENAME>ea020166301ex8_ellomay.htm
<DESCRIPTION>LIST OF SUBSIDIARIES OF THE REGISTRANT
<TEXT>
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     <TITLE></TITLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: right; background-color: white"><B>Exhibit 8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; background-color: white"><B>ELLOMAY CAPITAL LTD.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; background-color: white"><B>List of Subsidiaries
as of December 31, 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; background-color: white"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 57%; border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name of Subsidiary</B></FONT></TD>
    <TD STYLE="width: 20%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Percentage of Ownership</B></FONT></TD>
    <TD STYLE="width: 23%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Jurisdiction of Incorporation</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Clean Energy Ltd.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Clean Energy LP</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Luxembourg Holdings S.&agrave;r.l.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Luxembourg</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Spain S.L.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Spain</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rodr&iacute;guez I Parque Solar, S.L</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Spain</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rodr&iacute;guez II Parque Solar, S.L.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Spain</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Seguisolar S.L.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Spain</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Talasol Solar S.L.U.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">51%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Spain</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar S.L.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Spain </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Spain Two S.L.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Spain </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Spain Three S.L.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Spain </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Holdings Talmei Yosef Ltd.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Sun Team Ltd.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>2</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Talmei Yosef Ltd.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>3</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Water Plants Holdings (2014) Ltd.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Manara (2014) Ltd.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>4</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Pumped Storage (2014) Ltd.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">83.33%<SUP>4</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chashgal Elyon Ltd.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">75%<SUP>5</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pumped Storage Electra LP</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">75%<SUP>5</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Groen Gas Goor B.V.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Netherlands</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Groen Gas Oude-Tonge B.V.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Netherlands</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Groen Gas Gelderland B.V.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Netherlands</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Development Italy S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy One S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Two S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Three S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Four S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Five S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Six S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Seven S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Eight S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Nine S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Ten S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Eleven S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Twelve S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Thirteen S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Fourteen S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Fifteen S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Sixteen S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Seventeen S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Eighteen S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Italy Nineteen S.r.l</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italy</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay USA GP, LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware, USA</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay USA, LP</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>6</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware, USA</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay USA, Inc.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>7</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware, USA</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Solar Projects GP, LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>8</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware, USA</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay Texas Solar Projects, LP</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>8</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware, USA</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fairfield Solar Holdings LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>9</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware, USA</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fairfield Solar Project LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>10</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware, USA</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Malakoff Solar Holdings LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>9</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware, USA</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Malakoff Solar I LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>11</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware, USA</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Malakoff Solar II LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>11</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware, USA</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Talco Solar Holdings LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>9</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware, USA</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Talco Solar LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>12</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware, USA</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mexia Solar Holdings LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>9</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware, USA</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mexia Solar I LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>13</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware, USA</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mexia Solar II LLC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%<SUP>13</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware, USA</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; background-color: white"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">1.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Held by Ellomay Luxembourg Holdings S.&agrave;r.l.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">2.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Held by Ellomay Holdings Talmei Yosef Ltd.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">3.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Held by Ellomay Sun Team Ltd.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">4.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">75% is held by Ellomay Water Plants Holdings (2014) Ltd. and 25% is held by Sheva Mizrakot
Ltd., in which Ellomay Water Plants Holdings (2014) Ltd. holds 33.333%.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">5.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Held by Ellomay Manara (2014) Ltd.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">6.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Directly and through Ellomay USA GP, LLC.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">7.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Through Ellomay USA, LP.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">8.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Through Ellomay USA Inc.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">9.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Through Ellomay Texas Solar Projects, LP.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">10.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Through Fairfield Solar Holdings LLC.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">11.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Through Malakoff Solar Holdings LLC.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">12.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Through Talco Solar Holdings LLC.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">13.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Through Mexia Solar Holdings LLC.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 0.5in; background-color: white">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>7
<FILENAME>ea020166301ex12-1_ellomay.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 12.1</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Certification Pursuant
to Rule 13a-14(a) or Rule 15d-14(a) of the Securities Exchange Act of 1934.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I, Ran Fridrich, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD STYLE="text-align: justify">I have reviewed this annual report on Form 20-F of Ellomay Capital
Ltd.;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under
which such statements were made, not misleading with respect to the period covered by this report;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD STYLE="text-align: justify">Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the financial condition, results of operations and cash
flows of the company as of, and for, the periods presented in this report;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">4.</TD><TD STYLE="text-align: justify">The company&rsquo;s other certifying officer(s) and I are responsible
for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal
control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify">Designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company,
including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which
this report is being prepared;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">Evaluated the effectiveness of the company&rsquo;s disclosure controls and procedures and presented in
this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by
this report based on such evaluation; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(d)</TD><TD STYLE="text-align: justify">Disclosed in this report any change in the company&rsquo;s internal control over financial reporting that
occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the
company&rsquo;s internal control over financial reporting; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD STYLE="text-align: justify">The company&rsquo;s other certifying officer(s) and I have disclosed,
based on our most recent evaluation of internal control over financial reporting, to the company&rsquo;s auditors and the audit committee
of the company&rsquo;s board of directors (or persons performing the equivalent functions):</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify">All significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company&rsquo;s
ability to record, process, summarize and report financial information; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(b)</TD><TD STYLE="text-align: justify">Any fraud, whether or not material, that involves management
or other employees who have a significant role in the company&rsquo;s internal control over financial reporting.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date: April 18, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%; text-align: justify; layout-grid-mode: line"><I>/s/ Ran Fridrich</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line">Ran Fridrich</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line">Chief Executive Officer </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>8
<FILENAME>ea020166301ex12-2_ellomay.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 12.2</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Certification Pursuant
to Rule 13a-14(a) or Rule 15d-14(a) of the Securities Exchange Act of 1934.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I, Kalia Rubenbach, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD STYLE="text-align: justify">I have reviewed this annual report on Form 20-F of Ellomay Capital
Ltd.;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under
which such statements were made, not misleading with respect to the period covered by this report;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD STYLE="text-align: justify">Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the financial condition, results of operations and cash
flows of the company as of, and for, the periods presented in this report;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">4.</TD><TD STYLE="text-align: justify">The company&rsquo;s other certifying officer(s) and I are responsible
for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal
control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify">Designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company,
including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which
this report is being prepared;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(b)</TD><TD STYLE="text-align: justify">Designed such internal control over financial reporting, or
caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(c)</TD><TD STYLE="text-align: justify">Evaluated the effectiveness of the company&rsquo;s disclosure
controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,
as of the end of the period covered by this report based on such evaluation; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(d)</TD><TD STYLE="text-align: justify">Disclosed in this report any change in the company&rsquo;s internal
control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably
likely to materially affect, the company&rsquo;s internal control over financial reporting; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD STYLE="text-align: justify">The company&rsquo;s other certifying officer(s) and I have disclosed,
based on our most recent evaluation of internal control over financial reporting, to the company&rsquo;s auditors and the audit committee
of the company&rsquo;s board of directors (or persons performing the equivalent functions):</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify">All significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company&rsquo;s
ability to record, process, summarize and report financial information; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(b)</TD><TD STYLE="text-align: justify">Any fraud, whether or not material, that involves management
or other employees who have a significant role in the company&rsquo;s internal control over financial reporting.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date: April 18, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%; text-align: justify; layout-grid-mode: line"><I>/s/ Kalia Rubenbach</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line">Kalia Rubenbach</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="text-align: justify; layout-grid-mode: line">Chief Financial Officer </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13
<SEQUENCE>9
<FILENAME>ea020166301ex13_ellomay.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 13</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Certification Pursuant to Rule 13a-14(b) or
Rule 15d-14(b) of the Securities Exchange Act of 1934 and Section 1350 of Chapter 63 of Title 18 of the United States Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with the Annual
Report on Form 20-F of Ellomay Capital Ltd. (the &ldquo;Company&rdquo;) for the year ended December 31, 2023 as filed with the Securities
and Exchange Commission on the date hereof (the &ldquo;Report&rdquo;), the undersigned officers of the Company hereby certify, pursuant
to 18 U.S.C. &sect;1350, as adopted pursuant to &sect;906 of the Sarbanes-Oxley Act of 2002, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">A)</TD><TD STYLE="text-align: justify">The Report fully complies with the requirements of Section 13(a)
or 15(d) of the Securities Exchange Act of 1934; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">B)</TD><TD STYLE="text-align: justify">The information contained in the Report fairly presents, in
all material respects, the financial condition and results of operations of the Company.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%; text-align: justify"><I>/s/ Ran Fridrichy</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Ran Fridrich</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Chief Executive Officer</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify"><I>/s/ Kalia Rubenbach</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Kalia Rubenbach</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Chief Financial Officer</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date: April 18, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>10
<FILENAME>ea020166301ex15-1_ellomay.htm
<DESCRIPTION>CONSENT OF SOMEKH CHAIKIN, MEMBER FIRM OF KPMG INTERNATIONAL, INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM WITH RESPECT TO OUR FINANCIAL STATEMENTS
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 15.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To the Board of Directors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ellomay Capital Ltd.:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the incorporation by reference in
the registration statements (Nos. 333-187533, 333-102288 and 333-92491) on Form S-8 and (Nos. 333-199696 and 333-144171) on Form F-3 of
our report dated April 18, 2024, with respect to the consolidated financial statements of Ellomay Capital Ltd. and the effectiveness of
internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><I>/s/ Somekh Chaikin</I></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Somekh Chaikin</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Member firm of KPMG International</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tel-Aviv, Israel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April 18, 2024</P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.2
<SEQUENCE>11
<FILENAME>ea020166301ex15-2_ellomay.htm
<DESCRIPTION>CONSENT OF SOMEKH CHAIKIN, MEMBER FIRM OF KPMG INTERNATIONAL, INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM WITH RESPECT TO THE DORAD FINANCIAL STATEMENTS
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 15.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>CONSENT OF INDEPENDENT AUDITORS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the incorporation by reference in
the registration statements (Nos. 333-187533, 333-102288 and 333-92491) on Form S-8 and (Nos. 333-199696 and 333-144171) on Form F-3 of
Ellomay Capital Ltd. of our report dated February 29, 2024, with respect to the financial statements of Dorad Energy Ltd. which report
appears in the Form 20-F of Ellomay Capital Ltd. dated April 18, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%; font-size: 10pt"><I>/s/ Somekh Chaikin</I></TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Somekh Chaikin</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Member Firm of KPMG International</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tel-Aviv, Israel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April 18, 2024</P>

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-97.1
<SEQUENCE>12
<FILENAME>ea020166301ex97-1_ellomay.htm
<DESCRIPTION>ELLOMAY CAPITAL LTD. DODD-FRANK CLAWBACK POLICY
<TEXT>
<HTML>
<HEAD>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 97.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>ELLOMAY CAPITAL LTD.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>DODD-FRANK CLAWBACK POLICY</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Board of Directors (the &ldquo;Board&rdquo;)
of Ellomay Capital Ltd. (the &ldquo;Company&rdquo;) has adopted this clawback policy (the &ldquo;Policy&rdquo;) as a supplement to any
other clawback policies in effect now or in the future at the Company to provide for the recovery of erroneously awarded Incentive-Based
Compensation from Executive Officers. This Policy shall be interpreted to comply with the clawback rules found in 17 C.F.R. &sect;240.10D
and Section 811 of the Company Guide of the NYSE American LLC (the &ldquo;Exchange&rdquo;), and, to the extent this Policy is in any manner
deemed inconsistent with such rules, this Policy shall be treated as retroactively amended to be compliant with such rules.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. <U>Definitions</U>. 17 C.F.R. &sect;240.10D-1(d) defines the terms
&ldquo;Executive Officer,&rdquo; &ldquo;Financial Reporting Measures,&rdquo; &ldquo;Incentive-Based Compensation,&rdquo; and &ldquo;Received.&rdquo;
As used herein, these terms shall have the same meaning as in that regulation.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. <U>Application of the Policy</U>. This
Policy shall only apply in the event that the Company is required to prepare an accounting restatement due to the material
noncompliance of the Company with any financial reporting requirement under the securities laws, including any required accounting
restatement to correct an error in previously issued financial statements that is material to the previously issued financial
statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in
the current period. In the event of such an accounting restatement, the Company will recover reasonably promptly the Erroneously
Awarded Compensation Received in accordance with this Policy.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. <U>Recovery Period</U>. The Incentive-Based Compensation subject
to clawback is the Incentive-Based Compensation Received by an Executive Officer (1) after beginning service as an Executive Officer and
(2) during the three completed fiscal years immediately preceding the date that the Company is required to prepare an accounting restatement
as described in section 2, provided that the person served as an Executive Officer at any time during the performance period applicable
to the Incentive-Based Compensation in question (whether or not such person is serving as an Executive Officer at the time the Erroneously
Awarded Compensation is required to be repaid to the Company). The date that the Company is required to prepare an accounting restatement
shall be determined pursuant to 17 C.F.R. &sect;240.10D-1(b)(1)(ii).</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(a) Notwithstanding the foregoing, the Policy shall only
apply if the Incentive-Based Compensation is Received (1) while the Company has a class of securities listed on the Exchange and (2) on
or after October 2, 2023.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(b) See 17 C.F.R. &sect;240.10D-1(b)(1)(i) for certain circumstances
under which the Policy will apply to Incentive-Based Compensation Received during a transition period arising due to a change in the Company&rsquo;s
fiscal year.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4. <U>Erroneously Awarded Compensation</U>. The amount of
Incentive-Based Compensation subject to recovery under this Policy with respect to each Executive Officer in connection with an
accounting restatement described in Section 2 (&ldquo;Erroneously Awarded Compensation&rdquo;) is the amount of Incentive-Based
Compensation Received that exceeds the amount of Incentive Based-Compensation that otherwise would have been Received had it been
determined based on the restated amounts and shall be computed without regard to any taxes paid. For Incentive-Based Compensation
based on the Company&rsquo;s stock price or total shareholder return, where the amount of Erroneously Awarded Compensation is not
subject to mathematical recalculation directly from the information in an accounting restatement: (1) the amount shall be based on a
reasonable estimate of the effect of the accounting restatement on the Company&rsquo;s stock price or total shareholder return upon
which the Incentive-Based Compensation was Received; and (2) the Company must maintain documentation of the determination of that
reasonable estimate and provide such documentation to the Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5. Recovery of Erroneously Awarded Compensation. The Company shall
recover reasonably promptly any Erroneously Awarded Compensation except to the extent that the conditions of paragraphs (a), (b), or (c)
below apply. The Board shall determine the amount of Erroneously Awarded Compensation Received by each Executive Officer, shall promptly
notify each Executive Officer of such amount and demand repayment or return of such compensation based on a repayment schedule determined
by the Board in a manner that complies with this &ldquo;reasonably promptly&rdquo; requirement. Such determination shall be consistent
with any applicable legal guidance, by the Securities and Exchange Commission (the &ldquo;SEC&rdquo;), judicial opinion, or otherwise.
The determination of &ldquo;reasonably promptly&rdquo; may vary from case to case and the Board is authorized to adopt additional rules
to further describe what repayment schedules satisfy this requirement.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(a) Erroneously Awarded Compensation need not be recovered
if the direct expense paid to a third party to assist in enforcing the Policy would exceed the amount to be recovered and the Board has
made a determination that recovery would be impracticable. Before concluding that it would be impracticable to recover any amount of Erroneously
Awarded Compensation based on expense of enforcement, the Company shall make a reasonable attempt to recover such Erroneously Awarded
Compensation, document such reasonable attempt(s) to recover, and provide that documentation to the Exchange.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(b) Erroneously Awarded Compensation need not be recovered
if recovery would violate home country law where that law was adopted prior to November 28, 2022. Before concluding that it would be impracticable
to recover any amount of Erroneously Awarded Compensation based on violation of home country law, the Company shall obtain an opinion
of home country counsel, acceptable to the Exchange, that recovery would result in such a violation and shall provide such opinion to
the Exchange.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(c) Erroneously Awarded Compensation need not be recovered
if recovery would likely cause an otherwise tax-qualified retirement plan, under which benefits are broadly available to employees of
the Company, to fail to meet the requirements of 26 U.S.C. 401(a)(13) or 26 U.S.C. 411(a) and regulations thereunder.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">6. <U>Board Decisions</U>. </FONT>Decisions
of the Board with respect to this Policy shall be final, conclusive and binding on all Executive Officers subject to this Policy, unless
determined to be an abuse of discretion.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7. <U>No Indemnification</U>.&#9; Notwithstanding anything to the contrary
in any other policy of the Company or any agreement between the Company and an Executive Officer, no Executive Officer shall be indemnified
by the Company against the loss of any Erroneously Awarded Compensation or any claims related to the Company&rsquo;s enforcement of its
rights under this Policy.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">8. <U>Agreement to Policy by Executive Officers</U>. The Board shall
take reasonable steps to inform Executive Officers of this Policy and obtain their agreement to this Policy, which steps may constitute
the inclusion of this Policy as an attachment to any award that is accepted by the Executive Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">9. <U>Other Recovery Rights</U>. Any employment agreement, equity award
agreement, compensatory plan or any other agreement or arrangement with an Executive Officer shall be deemed to include, as a condition
to the grant of any benefit thereunder, an agreement by the Executive Officer to abide by the terms of this Policy. Any right of recovery
under this Policy is in addition to, and not in lieu of, any other remedies or rights of recovery that may be available to the Company
under applicable law, regulation or rule or pursuant to the terms of any policy of the Company or any provision in any employment agreement,
equity award agreement, compensatory plan, agreement or other arrangement.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">10. <U>Disclosure</U>. The Company shall file
all disclosures with respect to this Policy required by applicable SEC filings and rules.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">11. <U>Amendments</U>. The Board may amend this Policy from time to
time in its discretion and shall amend this Policy as it deems necessary. Notwithstanding anything in this Section 11 to the contrary,
no amendment or termination of this Policy shall be effective if such amendment or termination would (after taking into account any actions
taken by the Company contemporaneously with such amendment or termination) cause the Company to violate any federal securities laws, SEC
rule or Exchange rule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>EXHIBIT A </U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ELLOMAY CAPITAL LTD. DODD-FRANK CLAWBACK POLICY</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ACKNOWLEDGMENT FORM</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By signing below, the undersigned acknowledges and confirms that the
undersigned has received and reviewed a copy of the Ellomay Capital Ltd. (the &ldquo;Company&rdquo;) Dodd-Frank Clawback Policy (the &ldquo;Policy&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By signing this Acknowledgment Form, the undersigned acknowledges and
agrees that the undersigned is and will continue to be subject to the Policy and that the Policy will apply both during and after the
undersigned&rsquo;s employment with the Company. Further, by signing below, the undersigned agrees to abide by the terms of the Policy,
including, without limitation, by returning any Erroneously Awarded Compensation (as defined in the Policy) to the Company to the extent
required by, and in a manner consistent with, the Policy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; width: 60%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%">
</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Signature</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt; width: 60%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%">
</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Print Name</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt; width: 60%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%">
</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Date</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TYPE>GRAPHIC
<SEQUENCE>13
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
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<DOCUMENT>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:definitionLink</link:usedOn>
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  <xs:element name="CostIncludedInBookValue" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_CostIncludedInBookValue"/>
  <xs:element name="EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent"/>
  <xs:element name="CurrentPayableToGovernmentAuthorities" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_CurrentPayableToGovernmentAuthorities"/>
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  <xs:element name="CurrentPortionOfLongTermBankLoans" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_CurrentPortionOfLongTermBankLoans"/>
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  <xs:element name="ShorttermLoansinDollars" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_ShorttermLoansinDollars"/>
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  <xs:element name="NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees"/>
  <xs:element name="DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes"/>
  <xs:element name="CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast"/>
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  <xs:element name="TaxesInRespectToPreviousYearsAndOthers" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_TaxesInRespectToPreviousYearsAndOthers"/>
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  <xs:element name="FinancialInstrumentsDetailsScheduleofCompanysExposuretoLinkageandForeignCurrencyRiskTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_FinancialInstrumentsDetailsScheduleofCompanysExposuretoLinkageandForeignCurrencyRiskTable"/>
  <xs:element name="IntangibleAssetFromGreenCertificates" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_IntangibleAssetFromGreenCertificates"/>
  <xs:element name="AssetsOfDisposalGroupsClassifiedAsHeldForSale" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale"/>
  <xs:element name="ReceivableFromConcessionProjectCurrentAssets" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_ReceivableFromConcessionProjectCurrentAssets"/>
  <xs:element name="ReceivableFromConcessionProjectNonCurrentAssets" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_ReceivableFromConcessionProjectNonCurrentAssets"/>
  <xs:element name="CurrentMaturitiesOfLongtermLoans" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_CurrentMaturitiesOfLongtermLoans"/>
  <xs:element name="LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale"/>
  <xs:element name="FinancialInstrumentsDetailsScheduleofSignificantExchangeRatesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_FinancialInstrumentsDetailsScheduleofSignificantExchangeRatesTable"/>
  <xs:element name="PercentageOfChangeInForeignCurrency" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfChangeInForeignCurrency"/>
  <xs:element name="FinancialInstrumentsDetailsScheduleofSensitivityAnalysisofEquityTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_FinancialInstrumentsDetailsScheduleofSensitivityAnalysisofEquityTable"/>
  <xs:element name="ChangeInExchangeRateOfIncreaseDecreaseOfEquity" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_ChangeInExchangeRateOfIncreaseDecreaseOfEquity"/>
  <xs:element name="FinancialInstrumentsDetailsScheduleofChangeinInterestRateProfitLossTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_FinancialInstrumentsDetailsScheduleofChangeinInterestRateProfitLossTable"/>
  <xs:element name="IncreaseddecreasedProfitOrLoss" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_IncreaseddecreasedProfitOrLoss"/>
  <xs:element name="FinancialInstrumentsDetailsScheduleofFairValuesoftheOtherFinancialLiabilitiesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_FinancialInstrumentsDetailsScheduleofFairValuesoftheOtherFinancialLiabilitiesTable"/>
  <xs:element name="FinancialInstrumentsDetailsScheduleofFairValuesoftheOtherFinancialLiabilitiesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_FinancialInstrumentsDetailsScheduleofFairValuesoftheOtherFinancialLiabilitiesLineItems"/>
  <xs:element name="FinancialInstrumentsDetailsScheduleofInterestRatesUsedtoDiscountEstimatedCashFlowsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_FinancialInstrumentsDetailsScheduleofInterestRatesUsedtoDiscountEstimatedCashFlowsTable"/>
  <xs:element name="FinancialInstrumentsDetailsScheduleofInterestRatesUsedtoDiscountEstimatedCashFlowsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_FinancialInstrumentsDetailsScheduleofInterestRatesUsedtoDiscountEstimatedCashFlowsLineItems"/>
  <xs:element name="FinancialInstrumentsDetailsScheduleofFairValuesHierarchyTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_FinancialInstrumentsDetailsScheduleofFairValuesHierarchyTable"/>
  <xs:element name="FinancialInstrumentsDetailsScheduleofFairValuesHierarchyLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_FinancialInstrumentsDetailsScheduleofFairValuesHierarchyLineItems"/>
  <xs:element name="FinancialInstrumentsDetailsScheduleofReconciliationFinancialInstrumentsCarriedatFairValueTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_FinancialInstrumentsDetailsScheduleofReconciliationFinancialInstrumentsCarriedatFairValueTable"/>
  <xs:element name="FinancialInstrumentsDetailsScheduleofReconciliationFinancialInstrumentsCarriedatFairValueLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_FinancialInstrumentsDetailsScheduleofReconciliationFinancialInstrumentsCarriedatFairValueLineItems"/>
  <xs:element name="OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitTable"/>
  <xs:element name="OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems"/>
  <xs:element name="OperatingSegmentsDetailsScheduleofRevenuesfromtheCompanysOperationsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_OperatingSegmentsDetailsScheduleofRevenuesfromtheCompanysOperationsTable"/>
  <xs:element name="OperatingSegmentsDetailsScheduleofRevenuesfromtheCompanysOperationsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_OperatingSegmentsDetailsScheduleofRevenuesfromtheCompanysOperationsLineItems"/>
  <xs:element name="OperatingSegmentsDetailsScheduleofFixedAssetsNetTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_OperatingSegmentsDetailsScheduleofFixedAssetsNetTable"/>
  <xs:element name="OperatingSegmentsDetailsScheduleofFixedAssetsNetLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_OperatingSegmentsDetailsScheduleofFixedAssetsNetLineItems"/>
  <xs:element name="FixedAssetsNet" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_FixedAssetsNet"/>
  <xs:element name="DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleTable"/>
  <xs:element name="DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleLineItems"/>
  <xs:element name="DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleTable"/>
  <xs:element name="DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleLineItems"/>
  <xs:element name="DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofResultsAttributabletoDiscontinuedOperationTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofResultsAttributabletoDiscontinuedOperationTable"/>
  <xs:element name="DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofResultsAttributabletoDiscontinuedOperationLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofResultsAttributabletoDiscontinuedOperationLineItems"/>
  <xs:element name="ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars"/>
  <xs:element name="GeneralDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_GeneralDetailsTable"/>
  <xs:element name="GeneralDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_GeneralDetailsLineItems"/>
  <xs:element name="GreenGasProductionCapacity" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_GreenGasProductionCapacity"/>
  <xs:element name="BasisofPreparationDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_BasisofPreparationDetailsTable"/>
  <xs:element name="BasisofPreparationDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_BasisofPreparationDetailsLineItems"/>
  <xs:element name="MaterialAccountingPoliciesDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_MaterialAccountingPoliciesDetailsTable"/>
  <xs:element name="MaterialAccountingPoliciesDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_MaterialAccountingPoliciesDetailsLineItems"/>
  <xs:element name="PercentageOfHedge" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfHedge"/>
  <xs:element name="estimatedUsefulLlifeYear" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_estimatedUsefulLlifeYear"/>
  <xs:element name="DepreciatedTerm" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_DepreciatedTerm"/>
  <xs:element name="AgreementDomainDomain" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_AgreementDomainDomain"/>
  <xs:element name="InvesteeCompaniesandotherinvestmentsDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_InvesteeCompaniesandotherinvestmentsDetailsTable"/>
  <xs:element name="InvesteeCompaniesandotherinvestmentsDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems"/>
  <xs:element name="PercentageOfShareCapitalHolds" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfShareCapitalHolds"/>
  <xs:element name="IssuedProductionLicenses" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_IssuedProductionLicenses"/>
  <xs:element name="LicenseExpired" type="xbrli:dateItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_LicenseExpired"/>
  <xs:element name="ShareholdersLoans" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_ShareholdersLoans"/>
  <xs:element name="InterestPayableOnDebtPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ello_InterestPayableOnDebtPercentage"/>
  <xs:element name="AmountFinancialAgreementGuaranteesByDirectShare" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_AmountFinancialAgreementGuaranteesByDirectShare"/>
  <xs:element name="AmountFinancialAgreementGuaranteesByIndirectShare" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_AmountFinancialAgreementGuaranteesByIndirectShare"/>
  <xs:element name="PercentageOfAverageProductionReduced" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfAverageProductionReduced"/>
  <xs:element name="PercentageOfProductionIncrease" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfProductionIncrease"/>
  <xs:element name="ClaimsAmountPayment" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_ClaimsAmountPayment"/>
  <xs:element name="ClaimsInterestPaymentAmount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_ClaimsInterestPaymentAmount"/>
  <xs:element name="RefundAmountInClaim" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_RefundAmountInClaim"/>
  <xs:element name="PaymentReceivedForManagementAndEntrepreneurshipServices" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_PaymentReceivedForManagementAndEntrepreneurshipServices"/>
  <xs:element name="PercentageDecreaseFromDoradHolding" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageDecreaseFromDoradHolding"/>
  <xs:element name="RecoveryOfAmountCommitted" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_RecoveryOfAmountCommitted"/>
  <xs:element name="ExpensesPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ello_ExpensesPercentage"/>
  <xs:element name="PercentageOfAcquireCooperativesHoldings" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfAcquireCooperativesHoldings"/>
  <xs:element name="AmountOfAcquisition" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_AmountOfAcquisition"/>
  <xs:element name="RemainingAmountOfAcquisition" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_RemainingAmountOfAcquisition"/>
  <xs:element name="AmountForfeitureOfLicenseGuarantee" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_AmountForfeitureOfLicenseGuarantee"/>
  <xs:element name="TransmissionNetworkPeriod" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TransmissionNetworkPeriod"/>
  <xs:element name="AmountOfShareholdersFinancingCommitments" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_AmountOfShareholdersFinancingCommitments"/>
  <xs:element name="FinanceProvidedByOwners" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_FinanceProvidedByOwners"/>
  <xs:element name="StandbyEquityGuarantee" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_StandbyEquityGuarantee"/>
  <xs:element name="EstimatedAdditionalEquity" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_EstimatedAdditionalEquity"/>
  <xs:element name="AggregateGrossConsideration" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_AggregateGrossConsideration"/>
  <xs:element name="ConstructionPeriod" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_ConstructionPeriod"/>
  <xs:element name="AdvancePayment" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_AdvancePayment"/>
  <xs:element name="GreenGasProductionCapacityLevel" type="xbrli:integerItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ello_GreenGasProductionCapacityLevel"/>
  <xs:element name="SharesValue" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_SharesValue"/>
  <xs:element name="ConstructionAgreementAmount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_ConstructionAgreementAmount"/>
  <xs:element name="OutputPercentageOfFinancialPowerSwap" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_OutputPercentageOfFinancialPowerSwap"/>
  <xs:element name="PeriodOfFinancialPowerSwap" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PeriodOfFinancialPowerSwap"/>
  <xs:element name="ProjectFinancingAggregateAmount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_ProjectFinancingAggregateAmount"/>
  <xs:element name="PaymentPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ello_PaymentPercentage"/>
  <xs:element name="RecognizedAmountInEquity" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_RecognizedAmountInEquity"/>
  <xs:element name="DeferredAggregatePurchasePrice" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_DeferredAggregatePurchasePrice"/>
  <xs:element name="DeferredPaymentReceived" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_DeferredPaymentReceived"/>
  <xs:element name="AssociatedExpensesInEquity" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_AssociatedExpensesInEquity"/>
  <xs:element name="PrepaymentOfOutstandingAmount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_PrepaymentOfOutstandingAmount"/>
  <xs:element name="DepositAsDebtServiceFund" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_DepositAsDebtServiceFund"/>
  <xs:element name="DepositAsSecurityForLetterOfCredit" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_DepositAsSecurityForLetterOfCredit"/>
  <xs:element name="PreviousFinancingAmount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_PreviousFinancingAmount"/>
  <xs:element name="ExpectedSpecialDividend" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_ExpectedSpecialDividend"/>
  <xs:element name="FixedAndLumpsumAmount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_FixedAndLumpsumAmount"/>
  <xs:element name="PeriodOfPlantOperate" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PeriodOfPlantOperate"/>
  <xs:element name="ElectricityPerShare" type="dtr:perShareItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_ElectricityPerShare"/>
  <xs:element name="FixedAssetsDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_FixedAssetsDetailsTable"/>
  <xs:element name="FixedAssetsDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_FixedAssetsDetailsLineItems"/>
  <xs:element name="MinorityPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_MinorityPercentage"/>
  <xs:element name="LoansDetailsPart1Table" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_LoansDetailsPart1Table"/>
  <xs:element name="LoansDetailsPart1LineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_LoansDetailsPart1LineItems"/>
  <xs:element name="NumberOfSplittingOfLoans" type="xbrli:decimalItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_NumberOfSplittingOfLoans"/>
  <xs:element name="LongTermBorrowingsRiseInCurrentYear" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_LongTermBorrowingsRiseInCurrentYear"/>
  <xs:element name="MaturityPeriod" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_MaturityPeriod"/>
  <xs:element name="AggregateBookValueInvestmentInSubsidiary" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_AggregateBookValueInvestmentInSubsidiary"/>
  <xs:element name="PercentageOfMaximumGuaranteedAmount" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfMaximumGuaranteedAmount"/>
  <xs:element name="TransactionDomainDomain" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TransactionDomainDomain"/>
  <xs:element name="LoansDetailsPart2Table" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_LoansDetailsPart2Table"/>
  <xs:element name="LoansDetailsPart2LineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_LoansDetailsPart2LineItems"/>
  <xs:element name="FixedAnnualInterestRate" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_FixedAnnualInterestRate"/>
  <xs:element name="AmountWithdrawnFromLoanAccount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_AmountWithdrawnFromLoanAccount"/>
  <xs:element name="OnCallCreditFacility" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_OnCallCreditFacility"/>
  <xs:element name="DescriptionOfDebtEquityRatioAndHoldings" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_DescriptionOfDebtEquityRatioAndHoldings"/>
  <xs:element name="NumberOfPaymentsInstallment" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_NumberOfPaymentsInstallment"/>
  <xs:element name="RemainingBorrowingsAmount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_RemainingBorrowingsAmount"/>
  <xs:element name="MaturityPeriodTerm" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_MaturityPeriodTerm"/>
  <xs:element name="ExtensionOfMaturityTermPeriod" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_ExtensionOfMaturityTermPeriod"/>
  <xs:element name="AggregateNominalPurchasePrice" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_AggregateNominalPurchasePrice"/>
  <xs:element name="LoansDetailsPart3Table" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_LoansDetailsPart3Table"/>
  <xs:element name="LoansDetailsPart3LineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_LoansDetailsPart3LineItems"/>
  <xs:element name="PercentageOfMinorityInterestOfOwnershipInterestInAssociate" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfMinorityInterestOfOwnershipInterestInAssociate"/>
  <xs:element name="DebenturesDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_DebenturesDetailsTable"/>
  <xs:element name="DebenturesDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_DebenturesDetailsLineItems"/>
  <xs:element name="GrossProceedsFromIssueOfBondsNotesAndDebentures" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_GrossProceedsFromIssueOfBondsNotesAndDebentures"/>
  <xs:element name="PrincipalAmountOfEachUnitComprised" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_PrincipalAmountOfEachUnitComprised"/>
  <xs:element name="DebentureIssuedPerUnitPrice" type="dtr:perShareItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ello_DebentureIssuedPerUnitPrice"/>
  <xs:element name="AggregateRepaymentOfDebenture" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_AggregateRepaymentOfDebenture"/>
  <xs:element name="DebenturesPayableTerm" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_DebenturesPayableTerm"/>
  <xs:element name="IncreaseInPercentageOfInterest" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_IncreaseInPercentageOfInterest"/>
  <xs:element name="AmountOfImmediateRepaymentProvision" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_AmountOfImmediateRepaymentProvision"/>
  <xs:element name="PercentageOfImmediateRepaymentProvision" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfImmediateRepaymentProvision"/>
  <xs:element name="PercentageOfInterestIncreaseProvision" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfInterestIncreaseProvision"/>
  <xs:element name="PercentageOfDistributableProfit" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfDistributableProfit"/>
  <xs:element name="PercentageOfEquityOnConsolidatedBasis" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfEquityOnConsolidatedBasis"/>
  <xs:element name="DebenturesConvertibleIntoOrdinarySharesParValuePerShare" type="dtr:perShareItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare"/>
  <xs:element name="DebtInstrumentConversionPrice" type="dtr:perShareItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ello_DebtInstrumentConversionPrice"/>
  <xs:element name="LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt"/>
  <xs:element name="DecreaseInAnnualInterestRateForDebentures" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_DecreaseInAnnualInterestRateForDebentures"/>
  <xs:element name="AmountOfExpansionOfAggregateParValueOfDebentures" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_AmountOfExpansionOfAggregateParValueOfDebentures"/>
  <xs:element name="AmountOfAdjustmentOfBalanceSheetEquity" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_AmountOfAdjustmentOfBalanceSheetEquity"/>
  <xs:element name="LeasesDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_LeasesDetailsTable"/>
  <xs:element name="LeasesDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_LeasesDetailsLineItems"/>
  <xs:element name="OperatingLeaseAgreementTerm" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_OperatingLeaseAgreementTerm"/>
  <xs:element name="LeaseExpireDates" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_LeaseExpireDates"/>
  <xs:element name="CapitalizedRent" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_CapitalizedRent"/>
  <xs:element name="QuarterlyRent" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_QuarterlyRent"/>
  <xs:element name="RentPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_RentPercentage"/>
  <xs:element name="RentalTerms" type="xbrli:durationItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ello_RentalTerms"/>
  <xs:element name="PaymentToLeaseLiability" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_PaymentToLeaseLiability"/>
  <xs:element name="AnnualRent" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_AnnualRent"/>
  <xs:element name="AnnualRentIncreasesPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_AnnualRentIncreasesPercentage"/>
  <xs:element name="RightofuseAsset" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_RightofuseAsset"/>
  <xs:element name="TransactionsandBalanceswithRelatedPartiesDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_TransactionsandBalanceswithRelatedPartiesDetailsTable"/>
  <xs:element name="TransactionsandBalanceswithRelatedPartiesDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TransactionsandBalanceswithRelatedPartiesDetailsLineItems"/>
  <xs:element name="CompanysShareholders" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_CompanysShareholders"/>
  <xs:element name="EquityDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_EquityDetailsTable"/>
  <xs:element name="EquityDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_EquityDetailsLineItems"/>
  <xs:element name="NetOfTreasuryShares" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ello_NetOfTreasuryShares"/>
  <xs:element name="AmountOfOrdinarySharesRepurchased" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_AmountOfOrdinarySharesRepurchased"/>
  <xs:element name="ProceedsFromPrivatePlacement" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_ProceedsFromPrivatePlacement"/>
  <xs:element name="ShareBasedPaymentDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_ShareBasedPaymentDetailsTable"/>
  <xs:element name="DateOfExpireOfShareBasedPaymentArrangement" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_DateOfExpireOfShareBasedPaymentArrangement"/>
  <xs:element name="DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement"/>
  <xs:element name="OrdinarySharesAvailableForFutureGrants" type="xbrli:decimalItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ello_OrdinarySharesAvailableForFutureGrants"/>
  <xs:element name="ShareBasedPaymentAwardOptionsContractualTerm" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_ShareBasedPaymentAwardOptionsContractualTerm"/>
  <xs:element name="PercentageOfExercisePrice" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfExercisePrice"/>
  <xs:element name="TaxesonIncomeDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_TaxesonIncomeDetailsTable"/>
  <xs:element name="TaxesonIncomeDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TaxesonIncomeDetailsLineItems"/>
  <xs:element name="RelevantTaxRate" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_RelevantTaxRate"/>
  <xs:element name="PercentageOfNetWealthTaxRate" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfNetWealthTaxRate"/>
  <xs:element name="AmountOfMinimumNetWealthTax" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_AmountOfMinimumNetWealthTax"/>
  <xs:element name="AmountOfMaximumNetWealthTax" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_AmountOfMaximumNetWealthTax"/>
  <xs:element name="MaximumPercentageOfDeductionInFinancingExpensesOfEbitda" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_MaximumPercentageOfDeductionInFinancingExpensesOfEbitda"/>
  <xs:element name="PercetageOfTaxableProfitsExceeding" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PercetageOfTaxableProfitsExceeding"/>
  <xs:element name="TaxLossCarryforwards" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_TaxLossCarryforwards"/>
  <xs:element name="weightedAverageNumberOfOrdinarySharesOptions" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_weightedAverageNumberOfOrdinarySharesOptions"/>
  <xs:element name="GovernmentAuthorities" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_GovernmentAuthorities"/>
  <xs:element name="PercentageOfIncomeForProduction" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfIncomeForProduction"/>
  <xs:element name="PercentageOfSecurityFundMonthlyReduction" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PercentageOfSecurityFundMonthlyReduction"/>
  <xs:element name="SecurityFundAmount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_SecurityFundAmount"/>
  <xs:element name="AwardYearDomainDomain" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_AwardYearDomainDomain"/>
  <xs:element name="OperatingSegmentsDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_OperatingSegmentsDetailsTable"/>
  <xs:element name="OperatingSegmentsDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_OperatingSegmentsDetailsLineItems"/>
  <xs:element name="PecentageOfIndirectInterest" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PecentageOfIndirectInterest"/>
  <xs:element name="DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsTable"/>
  <xs:element name="DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsLineItems"/>
  <xs:element name="AdditionalPotentialPayment" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="ello_AdditionalPotentialPayment"/>
  <xs:element name="RenewableEnergyProduced" type="dtr:energyItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_RenewableEnergyProduced"/>
  <xs:element name="CustomaryException" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_CustomaryException"/>
  <xs:element name="SubsequentEventsDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="ello_SubsequentEventsDetailsTable"/>
  <xs:element name="SubsequentEventsDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_SubsequentEventsDetailsLineItems"/>
  <xs:element name="AggregateAmount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_AggregateAmount"/>
  <xs:element name="PrincipalPaymentPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_PrincipalPaymentPercentage"/>
  <xs:element name="DebenturesFixedInterestRate" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_DebenturesFixedInterestRate"/>
  <xs:element name="AggregateGrossConsiderationPricePerShare" type="dtr:perShareItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_AggregateGrossConsiderationPricePerShare"/>
  <xs:element name="PrincipalAmount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="ello_PrincipalAmount"/>
  <xs:element name="AgreementAxis" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:dimensionItem" id="ello_AgreementAxis"/>
  <xs:element name="AwardYearAxis" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:dimensionItem" id="ello_AwardYearAxis"/>
  <xs:element name="IncomeStatementsLocationAxis" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:dimensionItem" id="ello_IncomeStatementsLocationAxis"/>
  <xs:element name="ProfitOrLossAndOtherComprehensiveIncomeLossLocationAxis" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:dimensionItem" id="ello_ProfitOrLossAndOtherComprehensiveIncomeLossLocationAxis"/>
  <xs:element name="TransactionAxis" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:dimensionItem" id="ello_TransactionAxis"/>
  <xs:element name="ActualCompletionDateOfProjectMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_ActualCompletionDateOfProjectMember"/>
  <xs:element name="AmpaLtdMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_AmpaLtdMember"/>
  <xs:element name="AnaerobicDigestionPlantsNetherlandsMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_AnaerobicDigestionPlantsNetherlandsMember"/>
  <xs:element name="BankLoanMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_BankLoanMember"/>
  <xs:element name="BankOfIsraelInterestRateMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_BankOfIsraelInterestRateMember"/>
  <xs:element name="BiogasInstallationMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_BiogasInstallationMember"/>
  <xs:element name="BiogasMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_BiogasMember"/>
  <xs:element name="BoardMemberAndEmployeesMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_BoardMemberAndEmployeesMember"/>
  <xs:element name="CarryForwardTaxLossesMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_CarryForwardTaxLossesMember"/>
  <xs:element name="CarryingAmountsMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_CarryingAmountsMember"/>
  <xs:element name="ChangeInClassificationMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_ChangeInClassificationMember"/>
  <xs:element name="CommercialOperationMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_CommercialOperationMember"/>
  <xs:element name="CompanyBalanceSheetMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_CompanyBalanceSheetMember"/>
  <xs:element name="ConstructionPeriodOfProjectMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_ConstructionPeriodOfProjectMember"/>
  <xs:element name="ConsumerPriceIndexInIsraelMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_ConsumerPriceIndexInIsraelMember"/>
  <xs:element name="ContractualCashFlowsMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_ContractualCashFlowsMember"/>
  <xs:element name="ConvertibleDebenturesMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_ConvertibleDebenturesMember"/>
  <xs:element name="CorporateIncomeTaxMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_CorporateIncomeTaxMember"/>
  <xs:element name="CreditFacilityMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_CreditFacilityMember"/>
  <xs:element name="CurrencyRiskEuroMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_CurrencyRiskEuroMember"/>
  <xs:element name="CurrencyRiskNisMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_CurrencyRiskNisMember"/>
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  <xs:element name="DecreaseEquityMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_DecreaseEquityMember"/>
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  <xs:element name="TalasolMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TalasolMember"/>
  <xs:element name="TalasolPVSegmentMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TalasolPVSegmentMember"/>
  <xs:element name="TalasolProjectMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TalasolProjectMember"/>
  <xs:element name="TalasolSPAMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TalasolSPAMember"/>
  <xs:element name="TalasolSolarSLUMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TalasolSolarSLUMember"/>
  <xs:element name="TalasolSpainMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TalasolSpainMember"/>
  <xs:element name="TalcoSolarLLCMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TalcoSolarLLCMember"/>
  <xs:element name="TalcoSolarMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TalcoSolarMember"/>
  <xs:element name="TalmeiYosefMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TalmeiYosefMember"/>
  <xs:element name="TalmeiYosefSaleAgreementMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TalmeiYosefSaleAgreementMember"/>
  <xs:element name="TheNetherlandsTaxationMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TheNetherlandsTaxationMember"/>
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  <xs:element name="ThirtyOneDecemberTwoThousandFortyTwoMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_ThirtyOneDecemberTwoThousandFortyTwoMember"/>
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  <xs:element name="TrancheOneMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TrancheOneMember"/>
  <xs:element name="TrancheThreeMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TrancheThreeMember"/>
  <xs:element name="TrancheTwoMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TrancheTwoMember"/>
  <xs:element name="TransactionReserveWithNonControllingInterestsMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_TransactionReserveWithNonControllingInterestsMember"/>
  <xs:element name="UDoriEnergyInfrastructuresLtdMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_UDoriEnergyInfrastructuresLtdMember"/>
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  <xs:element name="YearThreeMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_YearThreeMember"/>
  <xs:element name="YearTwoMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="ello_YearTwoMember"/>
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</xs:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>19
<FILENAME>ello-20231231_cal.xml
<DESCRIPTION>XBRL CALCULATION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by CompSci Transform (tm) - http://www.compsciresources.com -->
<!-- Created: Thu Apr 18 20:22:13 UTC 2024 -->
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<DOCUMENT>
<TYPE>EX-101.DEF
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<DESCRIPTION>XBRL DEFINITION FILE
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    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_AuditorName" order="40" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_AuditorLocation" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditorLocation"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_AuditorLocation" order="41" xbrldt:closed="true"/>
  </definitionLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>21
<FILENAME>ello-20231231_lab.xml
<DESCRIPTION>XBRL LABEL FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by CompSci Transform (tm) - http://www.compsciresources.com -->
<!-- Created: Thu Apr 18 20:22:13 UTC 2024 -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel"/>
  <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel"/>
  <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel"/>
  <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel"/>
  <labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <loc xlink:type="locator" xlink:label="dei_EntityAddressesAddressTypeAxis" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressesAddressTypeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressesAddressTypeAxis_lbl" xml:lang="en-US">Entity Addresses, Address Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressesAddressTypeAxis" xlink:to="dei_EntityAddressesAddressTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentAssets_lbl" xml:lang="en-US">Total Current assests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_CurrentAssets_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentAssets_lbl0" xml:lang="en-US">Current assets, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_CurrentAssets_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentAssets_lbl" xml:lang="en-US">Non-current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_NoncurrentAssets_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentAssets_lbl0" xml:lang="en-US">Non-current assets, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_NoncurrentAssets_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Assets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Assets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Assets_lbl" xml:lang="en-US">Total assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Assets_lbl0" xml:lang="en-US">Total assets, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_Assets_lbl1" xml:lang="en-US">Segment assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_Assets_lbl2" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets_lbl2"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentLiabilities_lbl" xml:lang="en-US">Total current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_CurrentLiabilities_lbl0" xml:lang="en-US">Current liabilities, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentLiabilities_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentLiabilities_lbl" xml:lang="en-US">Total Non-current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_NoncurrentLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NoncurrentLiabilities_lbl0" xml:lang="en-US">Non-current liabilities, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_NoncurrentLiabilities_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Liabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Liabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Liabilities_lbl" xml:lang="en-US">Total liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_Liabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Liabilities_lbl0" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_Liabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_Liabilities_lbl1" xml:lang="en-US">Total liabilities, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_Liabilities_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_Liabilities_lbl2" xml:lang="en-US">Liabilities amount (in Euro)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_Liabilities_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_Liabilities_lbl3" xml:lang="en-US">Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_Liabilities_lbl3"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EquityAttributableToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl" xml:lang="en-US">Total equity attributed to shareholders of the Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl0" xml:lang="en-US">Equity attributable to the owners of the Company, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Equity" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Equity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en-US">Total equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_Equity_lbl0" xml:lang="en-US">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_Equity_lbl1" xml:lang="en-US">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Equity_lbl2" xml:lang="en-US">Company&#8217;s share, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_Equity_lbl3" xml:lang="en-US">Total exposure in statement of financial position in respect of financial assets and financial liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_Equity_lbl4" xml:lang="en-US">Equity amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl4"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Equity_lbl5" xml:lang="en-US">Equity (in Euro)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl5"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityAndLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EquityAndLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xml:lang="en-US">Total liabilities and equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAndLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GrossProfit" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GrossProfit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_GrossProfit_lbl" xml:lang="en-US">Gross profit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GrossProfit_lbl0" xml:lang="en-US">Gross profit (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_GrossProfit_lbl1" xml:lang="en-US">Gross profit (loss) from operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProfitLossFromOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProfitLossFromOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLossFromOperatingActivities_lbl" xml:lang="en-US">Operating profit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_ProfitLossFromOperatingActivities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossFromOperatingActivities_lbl0" xml:lang="en-US">Operating profit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_ProfitLossFromOperatingActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLossFromOperatingActivities_lbl1" xml:lang="en-US">Operating profit (loss) from operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_ProfitLossFromOperatingActivities_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_FinanceIncomeExpenseNet" xlink:href="ello-20231231.xsd#ello_FinanceIncomeExpenseNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ello_FinanceIncomeExpenseNet_lbl" xml:lang="en-US">Financing expenses, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceIncomeExpenseNet" xlink:to="ello_FinanceIncomeExpenseNet_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProfitLossBeforeTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProfitLossBeforeTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en-US">Profit (loss) before taxes on income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl0" xml:lang="en-US">Profit (loss) before taxes on income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl1" xml:lang="en-US">Results from operating activities before taxes on income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProfitLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProfitLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en-US">Profit (loss) for the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLoss_lbl0" xml:lang="en-US">Profit (loss) for the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl" xml:lang="en-US">Total other comprehensive income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl0" xml:lang="en-US">Other comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome_lbl0"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xml:lang="en-US">Total comprehensive income (loss) for the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ComprehensiveIncome_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ComponentsOfEquityAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ComponentsOfEquityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComponentsOfEquityAxis_lbl" xml:lang="en-US">Components of equity [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_ComponentsOfEquityAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForReconcileProfitLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLoss_lbl" xml:lang="en-US">Total adjustment to reconcile profit and loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLoss" xlink:to="ifrs-full_AdjustmentsForReconcileProfitLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash provided by operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl0" xml:lang="en-US">Net cash (used in) from operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash used in investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl0" xml:lang="en-US">Net cash (used in) from investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash provided by financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl0" xml:lang="en-US">Net cash (used in) from financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_lbl" xml:lang="en-US">Increase (decrease) in cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en-US">Cash and cash equivalents at the beginning of year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl0" xml:lang="en-US">Cash and cash equivalents at the end of the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl1" xml:lang="en-US">Cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl2" xml:lang="en-US">Cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl3" xml:lang="en-US">Cash and cash equivalents in the statement of cash flows</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl3"/>
    <loc xlink:type="locator" xlink:label="ello_GeneralAbstract" xlink:href="ello-20231231.xsd#ello_GeneralAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_GeneralAbstract_lbl" xml:lang="en-US">General [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GeneralAbstract" xlink:to="ello_GeneralAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfBasisOfPreparationAbstract" xlink:href="ello-20231231.xsd#ello_DisclosureOfBasisOfPreparationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfBasisOfPreparationAbstract_lbl" xml:lang="en-US">Basis of Preparation [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfBasisOfPreparationAbstract" xlink:to="ello_DisclosureOfBasisOfPreparationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfVoluntaryChangeInAccountingPolicyAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfVoluntaryChangeInAccountingPolicyAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfVoluntaryChangeInAccountingPolicyAbstract_lbl" xml:lang="en-US">Material Accounting Policies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfVoluntaryChangeInAccountingPolicyAbstract" xlink:to="ifrs-full_DisclosureOfVoluntaryChangeInAccountingPolicyAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl" xml:lang="en-US">Classes of property, plant and equipment [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RangeAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RangeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RangeAxis_lbl" xml:lang="en-US">Range [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfCashAndCashEquivalentsAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfCashAndCashEquivalentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfCashAndCashEquivalentsAbstract_lbl" xml:lang="en-US">Schedule of Cash and Cash Equivalents [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfCashAndCashEquivalentsAbstract" xlink:to="ello_ScheduleOfCashAndCashEquivalentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RestrictedCashDepositsAndMarketableSecuritiesAbstract" xlink:href="ello-20231231.xsd#ello_RestrictedCashDepositsAndMarketableSecuritiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RestrictedCashDepositsAndMarketableSecuritiesAbstract_lbl" xml:lang="en-US">Restricted Cash, Deposits and Marketable Securities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RestrictedCashDepositsAndMarketableSecuritiesAbstract" xlink:to="ello_RestrictedCashDepositsAndMarketableSecuritiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfAssetsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ClassesOfAssetsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfAssetsAxis_lbl" xml:lang="en-US">Classes of assets [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_InvesteeCompaniesAndOtherInvestmentsAbstract" xlink:href="ello-20231231.xsd#ello_InvesteeCompaniesAndOtherInvestmentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_InvesteeCompaniesAndOtherInvestmentsAbstract_lbl" xml:lang="en-US">Investee Companies and other investments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InvesteeCompaniesAndOtherInvestmentsAbstract" xlink:to="ello_InvesteeCompaniesAndOtherInvestmentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfCompositionOfInvestmentsAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfCompositionOfInvestmentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfCompositionOfInvestmentsAbstract_lbl" xml:lang="en-US">Schedule of Composition of Investments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfCompositionOfInvestmentsAbstract" xlink:to="ello_ScheduleOfCompositionOfInvestmentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CompositionOfInvestments" xlink:href="ello-20231231.xsd#ello_CompositionOfInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ello_CompositionOfInvestments_lbl" xml:lang="en-US">Total of composition investment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompositionOfInvestments" xlink:to="ello_CompositionOfInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InvestmentAccountedForUsingEquityMethod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl" xml:lang="en-US">Investment in equity accounted investee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:to="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl0" xml:lang="en-US">Investment in equity accounted investee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:to="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl1" xml:lang="en-US">Investments in equity accounted investees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:to="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfChangesInInvestmentsAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfChangesInInvestmentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfChangesInInvestmentsAbstract_lbl" xml:lang="en-US">Schedule of Changes in Investments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfChangesInInvestmentsAbstract" xlink:to="ello_ScheduleOfChangesInInvestmentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TotalInvestmentComposition" xlink:href="ello-20231231.xsd#ello_TotalInvestmentComposition"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ello_TotalInvestmentComposition_lbl" xml:lang="en-US">Balance as at January 1</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TotalInvestmentComposition" xlink:to="ello_TotalInvestmentComposition_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ello_TotalInvestmentComposition_lbl0" xml:lang="en-US">Balance as at December 31</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TotalInvestmentComposition" xlink:to="ello_TotalInvestmentComposition_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis_lbl" xml:lang="en-US">Associates [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfCompositionOfAdvancesOnAccountOfInvestmentsAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfCompositionOfAdvancesOnAccountOfInvestmentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfCompositionOfAdvancesOnAccountOfInvestmentsAbstract_lbl" xml:lang="en-US">Schedule of Composition of Advances on Account of Investments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfCompositionOfAdvancesOnAccountOfInvestmentsAbstract" xlink:to="ello_ScheduleOfCompositionOfAdvancesOnAccountOfInvestmentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TradeAndOtherReceivablesAndAssetsAbstract" xlink:href="ello-20231231.xsd#ello_TradeAndOtherReceivablesAndAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TradeAndOtherReceivablesAndAssetsAbstract_lbl" xml:lang="en-US">Trade and Other Receivables [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TradeAndOtherReceivablesAndAssetsAbstract" xlink:to="ello_TradeAndOtherReceivablesAndAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentReceivables_lbl" xml:lang="en-US">Total Non Current Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentReceivables" xlink:to="ifrs-full_NoncurrentReceivables_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentReceivables_lbl0" xml:lang="en-US">Long term receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentReceivables" xlink:to="ifrs-full_NoncurrentReceivables_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NotesAndOtherExplanatoryInformationAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NotesAndOtherExplanatoryInformationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotesAndOtherExplanatoryInformationAbstract_lbl" xml:lang="en-US">Fixed Assets [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotesAndOtherExplanatoryInformationAbstract" xlink:to="ifrs-full_NotesAndOtherExplanatoryInformationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" xml:lang="en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xml:lang="en-US">Balance beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl0" xml:lang="en-US">Balance ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl1" xml:lang="en-US">Fixed assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl2" xml:lang="en-US">Plant</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl2"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherPayablesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TradeAndOtherPayablesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeAndOtherPayablesAbstract_lbl" xml:lang="en-US">Other Payables [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayablesAbstract" xlink:to="ifrs-full_TradeAndOtherPayablesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfOtherPayablesAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfOtherPayablesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfOtherPayablesAbstract_lbl" xml:lang="en-US">Schedule of Other Payables [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfOtherPayablesAbstract" xlink:to="ello_ScheduleOfOtherPayablesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherCurrentPayables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherCurrentPayables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherCurrentPayables_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentPayables" xlink:to="ifrs-full_OtherCurrentPayables_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherCurrentPayables_lbl0" xml:lang="en-US">Other payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentPayables" xlink:to="ifrs-full_OtherCurrentPayables_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_OtherCurrentPayables_lbl1" xml:lang="en-US">Other payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentPayables" xlink:to="ifrs-full_OtherCurrentPayables_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlockAbstract" xlink:href="ello-20231231.xsd#ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlockAbstract_lbl" xml:lang="en-US">Current Maturities and Short Term Bank Loans [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlockAbstract" xlink:to="ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BorrowingsByNameAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BorrowingsByNameAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsByNameAxis_lbl" xml:lang="en-US">Borrowings by name [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoansAbstract" xlink:href="ello-20231231.xsd#ello_LoansAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoansAbstract_lbl" xml:lang="en-US">Loans [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansAbstract" xlink:to="ello_LoansAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ClassesOfFinancialInstrumentsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis_lbl" xml:lang="en-US">Classes of financial instruments [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TypesOfInterestRatesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TypesOfInterestRatesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfInterestRatesAxis_lbl" xml:lang="en-US">Types of interest rates [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_TypesOfInterestRatesAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_MaturityAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_MaturityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MaturityAxis_lbl" xml:lang="en-US">Maturity [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_MaturityAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentFinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentFinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_CurrentFinancialLiabilities_lbl" xml:lang="en-US">Balance Beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentFinancialLiabilities" xlink:to="ifrs-full_CurrentFinancialLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_CurrentFinancialLiabilities_lbl0" xml:lang="en-US">Balance Ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentFinancialLiabilities" xlink:to="ifrs-full_CurrentFinancialLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentFinancialLiabilities_lbl1" xml:lang="en-US">Carrying amount, Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentFinancialLiabilities" xlink:to="ifrs-full_CurrentFinancialLiabilities_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_DebenturesAbstract" xlink:href="ello-20231231.xsd#ello_DebenturesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DebenturesAbstract_lbl" xml:lang="en-US">Debentures [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesAbstract" xlink:to="ello_DebenturesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl" xml:lang="en-US">Total long-term debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:to="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl0" xml:lang="en-US">Debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:to="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl1" xml:lang="en-US">Debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:to="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TypesOfFinancialLiabilitiesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TypesOfFinancialLiabilitiesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfFinancialLiabilitiesAxis_lbl" xml:lang="en-US">Types of financial liabilities [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfFinancialLiabilitiesAxis" xlink:to="ifrs-full_TypesOfFinancialLiabilitiesAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LongtermLoans" xlink:href="ello-20231231.xsd#ello_LongtermLoans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ello_LongtermLoans_lbl" xml:lang="en-US">Long-term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LongtermLoans" xlink:to="ello_LongtermLoans_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OtherLongTermLiabilitiesAbstract" xlink:href="ello-20231231.xsd#ello_OtherLongTermLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_OtherLongTermLiabilitiesAbstract_lbl" xml:lang="en-US">Other Long-Term Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherLongTermLiabilitiesAbstract" xlink:to="ello_OtherLongTermLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfOtherLongTermLiabilitiesAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfOtherLongTermLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfOtherLongTermLiabilitiesAbstract_lbl" xml:lang="en-US">Schedule of Other Long Term Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfOtherLongTermLiabilitiesAbstract" xlink:to="ello_ScheduleOfOtherLongTermLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfQuantitativeInformationAboutLeasesForLesseeAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfQuantitativeInformationAboutLeasesForLesseeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfQuantitativeInformationAboutLeasesForLesseeAbstract_lbl" xml:lang="en-US">Leases [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfQuantitativeInformationAboutLeasesForLesseeAbstract" xlink:to="ifrs-full_DisclosureOfQuantitativeInformationAboutLeasesForLesseeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RightofuseAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RightofuseAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_RightofuseAssets_lbl" xml:lang="en-US">Balance as beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RightofuseAssets" xlink:to="ifrs-full_RightofuseAssets_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_RightofuseAssets_lbl0" xml:lang="en-US">Balance as ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RightofuseAssets" xlink:to="ifrs-full_RightofuseAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RightofuseAssets_lbl1" xml:lang="en-US">Right-of-use asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RightofuseAssets" xlink:to="ifrs-full_RightofuseAssets_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GeographicalAreasAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GeographicalAreasAxis_lbl" xml:lang="en-US">Geographical areas [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfAmountsRecognizedInProfitOrLossAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfAmountsRecognizedInProfitOrLossAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfAmountsRecognizedInProfitOrLossAbstract_lbl" xml:lang="en-US">Schedule of Amounts Recognized in Profit or Loss [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfAmountsRecognizedInProfitOrLossAbstract" xlink:to="ello_ScheduleOfAmountsRecognizedInProfitOrLossAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TransactionsAndBalancesWithRelatedPartiesAbstract" xlink:href="ello-20231231.xsd#ello_TransactionsAndBalancesWithRelatedPartiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TransactionsAndBalancesWithRelatedPartiesAbstract_lbl" xml:lang="en-US">Transactions and Balances with Related Parties [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionsAndBalancesWithRelatedPartiesAbstract" xlink:to="ello_TransactionsAndBalancesWithRelatedPartiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfKeyManagementPersonnelAndInterestedPartiesAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfKeyManagementPersonnelAndInterestedPartiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfKeyManagementPersonnelAndInterestedPartiesAbstract_lbl" xml:lang="en-US">Schedule of Key Management Personnel and Interested Parties [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfKeyManagementPersonnelAndInterestedPartiesAbstract" xlink:to="ello_ScheduleOfKeyManagementPersonnelAndInterestedPartiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" xml:lang="en-US">Categories of related parties [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAbstract_lbl" xml:lang="en-US">Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAbstract" xlink:to="ifrs-full_EquityAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityAbstract_lbl0" xml:lang="en-US">Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAbstract" xlink:to="ifrs-full_EquityAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfCompositionOfShareCapitalAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfCompositionOfShareCapitalAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfCompositionOfShareCapitalAbstract_lbl" xml:lang="en-US">Schedule of Composition of Share Capital [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfCompositionOfShareCapitalAbstract" xlink:to="ello_ScheduleOfCompositionOfShareCapitalAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract_lbl" xml:lang="en-US">Share-Based Payment [Abstract]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOutstandingShareOptions" xlink:to="ifrs-full_NumberOfOutstandingShareOptions_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_StatementOfProfitOrLossAndOtherComprehensiveIncomeAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_StatementOfProfitOrLossAndOtherComprehensiveIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfProfitOrLossAndOtherComprehensiveIncomeAbstract_lbl" xml:lang="en-US">Details of the Statements of Profit or Loss and Other Comprehensive Income (Loss) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfProfitOrLossAndOtherComprehensiveIncomeAbstract" xlink:to="ifrs-full_StatementOfProfitOrLossAndOtherComprehensiveIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfRevenuesAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfRevenuesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfRevenuesAbstract_lbl" xml:lang="en-US">Schedule of Revenues [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfRevenuesAbstract" xlink:to="ello_ScheduleOfRevenuesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TotalRevenues" xlink:href="ello-20231231.xsd#ello_TotalRevenues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ello_TotalRevenues_lbl" xml:lang="en-US">Total revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TotalRevenues" xlink:to="ello_TotalRevenues_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ContinuingAndDiscontinuedOperationsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ContinuingAndDiscontinuedOperationsAxis_lbl" xml:lang="en-US">Continuing and discontinued operations [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_ContinuingAndDiscontinuedOperationsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfOperatingCostsDepreciationAndAmortizationAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfOperatingCostsDepreciationAndAmortizationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfOperatingCostsDepreciationAndAmortizationAbstract_lbl" xml:lang="en-US">Schedule of Operating Costs, Depreciation and Amortization [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfOperatingCostsDepreciationAndAmortizationAbstract" xlink:to="ello_ScheduleOfOperatingCostsDepreciationAndAmortizationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TotalOperatingCosts" xlink:href="ello-20231231.xsd#ello_TotalOperatingCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ello_TotalOperatingCosts_lbl" xml:lang="en-US">Total operating costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TotalOperatingCosts" xlink:to="ello_TotalOperatingCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ProfitOrLossAndOtherComprehensiveIncomeLossLocationAxis" xlink:href="ello-20231231.xsd#ello_ProfitOrLossAndOtherComprehensiveIncomeLossLocationAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ProfitOrLossAndOtherComprehensiveIncomeLossLocationAxis_lbl" xml:lang="en-US">Profit or Loss and Other Comprehensive Income (Loss) location [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProfitOrLossAndOtherComprehensiveIncomeLossLocationAxis" xlink:to="ello_ProfitOrLossAndOtherComprehensiveIncomeLossLocationAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfGeneralAndAdministrativeExpensesAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfGeneralAndAdministrativeExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfGeneralAndAdministrativeExpensesAbstract_lbl" xml:lang="en-US">Schedule of General and Administrative Expenses [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfGeneralAndAdministrativeExpensesAbstract" xlink:to="ello_ScheduleOfGeneralAndAdministrativeExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GeneralAndAdministrativeExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GeneralAndAdministrativeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_GeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Total general and administrative expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeneralAndAdministrativeExpense" xlink:to="ifrs-full_GeneralAndAdministrativeExpense_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GeneralAndAdministrativeExpense_lbl0" xml:lang="en-US">General and administrative expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeneralAndAdministrativeExpense" xlink:to="ifrs-full_GeneralAndAdministrativeExpense_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfFinancingIncomeAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfFinancingIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfFinancingIncomeAbstract_lbl" xml:lang="en-US">Schedule of Financing Income [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfFinancingIncomeAbstract" xlink:to="ello_ScheduleOfFinancingIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TotalFinancingIncome" xlink:href="ello-20231231.xsd#ello_TotalFinancingIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ello_TotalFinancingIncome_lbl" xml:lang="en-US">Total financing income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TotalFinancingIncome" xlink:to="ello_TotalFinancingIncome_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfFinancingExpensesAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfFinancingExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfFinancingExpensesAbstract_lbl" xml:lang="en-US">Schedule of Financing Expenses [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfFinancingExpensesAbstract" xlink:to="ello_ScheduleOfFinancingExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_FinanceExpenses" xlink:href="ello-20231231.xsd#ello_FinanceExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ello_FinanceExpenses_lbl" xml:lang="en-US">Total financing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceExpenses" xlink:to="ello_FinanceExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_IncomeStatementsLocationAxis" xlink:href="ello-20231231.xsd#ello_IncomeStatementsLocationAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_IncomeStatementsLocationAxis_lbl" xml:lang="en-US">Income Statements Location [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncomeStatementsLocationAxis" xlink:to="ello_IncomeStatementsLocationAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TaxesOnIncomeAbstract" xlink:href="ello-20231231.xsd#ello_TaxesOnIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TaxesOnIncomeAbstract_lbl" xml:lang="en-US">Taxes on Income [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TaxesOnIncomeAbstract" xlink:to="ello_TaxesOnIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TaxBenefittaxesOnIncome" xlink:href="ello-20231231.xsd#ello_TaxBenefittaxesOnIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ello_TaxBenefittaxesOnIncome_lbl" xml:lang="en-US">Tax benefit (taxes on income)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TaxBenefittaxesOnIncome" xlink:to="ello_TaxBenefittaxesOnIncome_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfTheoreticalTaxOnThePreTaxProfitAndTheTaxExpenseAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfTheoreticalTaxOnThePreTaxProfitAndTheTaxExpenseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfTheoreticalTaxOnThePreTaxProfitAndTheTaxExpenseAbstract_lbl" xml:lang="en-US">Schedule of Theoretical Tax [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfTheoreticalTaxOnThePreTaxProfitAndTheTaxExpenseAbstract" xlink:to="ello_ScheduleOfTheoreticalTaxOnThePreTaxProfitAndTheTaxExpenseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TaxEffectOfForeignTaxRates" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TaxEffectOfForeignTaxRates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_TaxEffectOfForeignTaxRates_lbl" xml:lang="en-US">Tax benefit (tax expenses) calculated according to the Company&#8217;s primary tax rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxEffectOfForeignTaxRates" xlink:to="ifrs-full_TaxEffectOfForeignTaxRates_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DeferredTaxLiabilityAsset" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DeferredTaxLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xml:lang="en-US">Balance of deferred tax asset (liability) as at January 1</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxLiabilityAsset_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl0" xml:lang="en-US">Balance of deferred tax asset (liability) as at December 31</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxLiabilityAsset_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" xml:lang="en-US">Temporary difference, unused tax losses and unused tax credits [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:to="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EarningsPerShareAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EarningsPerShareAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EarningsPerShareAbstract_lbl" xml:lang="en-US">Earnings Per Share [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EarningsPerShareAbstract" xlink:to="ifrs-full_EarningsPerShareAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EarningsPerShareAbstract_lbl0" xml:lang="en-US">Earnings per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EarningsPerShareAbstract" xlink:to="ifrs-full_EarningsPerShareAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfFinancialInstrumentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsAbstract_lbl" xml:lang="en-US">Financial Instruments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinancialInstrumentsAbstract" xlink:to="ifrs-full_DisclosureOfFinancialInstrumentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ClassesOfFinancialAssetsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis_lbl" xml:lang="en-US">Classes of financial assets [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ifrs-full_ClassesOfFinancialAssetsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows_lbl" xml:lang="en-US">Total non-derivative financial liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows" xlink:to="ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TypesOfRisksAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TypesOfRisksAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfRisksAxis_lbl" xml:lang="en-US">Types of risks [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_CurrencyAxis" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_CurrencyAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_CurrencyAxis_lbl" xml:lang="en-US">Currency [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CurrencyAxis" xlink:to="srt_CurrencyAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_MeasurementAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_MeasurementAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MeasurementAxis_lbl" xml:lang="en-US">Measurement [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MeasurementAxis" xlink:to="ifrs-full_MeasurementAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xml:lang="en-US">Levels of fair value hierarchy [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_FinancialLiabilities_lbl" xml:lang="en-US">Financial liability, Balance beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilities" xlink:to="ifrs-full_FinancialLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_FinancialLiabilities_lbl0" xml:lang="en-US">Financial liability, Balance ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilities" xlink:to="ifrs-full_FinancialLiabilities_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfOperatingSegmentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsAbstract_lbl" xml:lang="en-US">Operating Segments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOperatingSegmentsAbstract" xlink:to="ifrs-full_DisclosureOfOperatingSegmentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DiscontinuedOperationAndDisposalGroupsHeldForSaleAbstract" xlink:href="ello-20231231.xsd#ello_DiscontinuedOperationAndDisposalGroupsHeldForSaleAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DiscontinuedOperationAndDisposalGroupsHeldForSaleAbstract_lbl" xml:lang="en-US">Discontinued operation and Disposal Groups Held for Sale [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DiscontinuedOperationAndDisposalGroupsHeldForSaleAbstract" xlink:to="ello_DiscontinuedOperationAndDisposalGroupsHeldForSaleAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EventsAfterReportingPeriodAbstract" xlink:href="ello-20231231.xsd#ello_EventsAfterReportingPeriodAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EventsAfterReportingPeriodAbstract_lbl" xml:lang="en-US">Subsequent Events [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EventsAfterReportingPeriodAbstract" xlink:to="ello_EventsAfterReportingPeriodAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentType"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentRegistrationStatement" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentRegistrationStatement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentRegistrationStatement_lbl" xml:lang="en-US">Document Registration Statement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentRegistrationStatement" xlink:to="dei_DocumentRegistrationStatement_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentAnnualReport" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAnnualReport"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentAnnualReport_lbl" xml:lang="en-US">Document Annual Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAnnualReport" xlink:to="dei_DocumentAnnualReport_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_CurrentFiscalYearEndDate" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CurrentFiscalYearEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFiscalYearFocus" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalYearFocus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentTransitionReport" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentTransitionReport"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentTransitionReport_lbl" xml:lang="en-US">Document Transition Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentShellCompanyReport" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentShellCompanyReport"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentShellCompanyReport_lbl" xml:lang="en-US">Document Shell Company Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyReport" xlink:to="dei_DocumentShellCompanyReport_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityFileNumber" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFileNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address, Address Line One</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressAddressLine2" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US">Entity Address, Address Line Two</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCityOrTown"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address, City or Town</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address, Postal Zip Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressCountry" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCountry"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressCountry_lbl" xml:lang="en-US">Entity Address, Country</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_ContactPersonnelName" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_ContactPersonnelName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_ContactPersonnelName_lbl" xml:lang="en-US">Contact Personnel Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_ContactPersonnelName" xlink:to="dei_ContactPersonnelName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CityAreaCode"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_ContactPersonnelFaxNumber" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_ContactPersonnelFaxNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_ContactPersonnelFaxNumber_lbl" xml:lang="en-US">Contact Personnel Fax Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_ContactPersonnelFaxNumber" xlink:to="dei_ContactPersonnelFaxNumber_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_Security12bTitle" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12bTitle"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US">Title of 12(b) Security</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_TradingSymbol" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_TradingSymbol"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_SecurityExchangeName" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityExchangeName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US">Security Exchange Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityWellKnownSeasonedIssuer"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Seasoned Issuer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityVoluntaryFilers" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityVoluntaryFilers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCurrentReportingStatus" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCurrentReportingStatus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityInteractiveDataCurrent" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityInteractiveDataCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US">Entity Interactive Data Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityFilerCategory" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFilerCategory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityEmergingGrowthCompany"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US">Entity Emerging Growth Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_IcfrAuditorAttestationFlag" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_IcfrAuditorAttestationFlag"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_IcfrAuditorAttestationFlag_lbl" xml:lang="en-US">ICFR Auditor Attestation Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_IcfrAuditorAttestationFlag" xlink:to="dei_IcfrAuditorAttestationFlag_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFinStmtErrorCorrectionFlag" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFinStmtErrorCorrectionFlag"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentFinStmtErrorCorrectionFlag_lbl" xml:lang="en-US">Document Financial Statement Error Correction [Flag]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFinStmtErrorCorrectionFlag" xlink:to="dei_DocumentFinStmtErrorCorrectionFlag_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFinStmtRestatementRecoveryAnalysisFlag" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFinStmtRestatementRecoveryAnalysisFlag"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentFinStmtRestatementRecoveryAnalysisFlag_lbl" xml:lang="en-US">Document Financial Statement Restatement Recovery Analysis [Flag]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFinStmtRestatementRecoveryAnalysisFlag" xlink:to="dei_DocumentFinStmtRestatementRecoveryAnalysisFlag_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentAccountingStandard" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAccountingStandard"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentAccountingStandard_lbl" xml:lang="en-US">Document Accounting Standard</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAccountingStandard" xlink:to="dei_DocumentAccountingStandard_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityShellCompany" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityShellCompany"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityShellCompany_lbl" xml:lang="en-US">Entity Shell Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_AuditorFirmId" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditorFirmId"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AuditorFirmId_lbl" xml:lang="en-US">Auditor Firm ID</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorFirmId" xlink:to="dei_AuditorFirmId_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_AuditorName" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditorName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AuditorName_lbl" xml:lang="en-US">Auditor Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorName" xlink:to="dei_AuditorName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_AuditorLocation" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditorLocation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AuditorLocation_lbl" xml:lang="en-US">Auditor Location</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorLocation" xlink:to="dei_AuditorLocation_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_AmendmentFlag" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentFlag"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalPeriodFocus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AssetsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssetsAbstract_lbl" xml:lang="en-US">Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_AssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentAssetsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentAssetsAbstract_lbl" xml:lang="en-US">Current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsAbstract" xlink:to="ifrs-full_CurrentAssetsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentAssetsAbstract_lbl0" xml:lang="en-US">Current assets:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsAbstract" xlink:to="ifrs-full_CurrentAssetsAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_MarketableSecuritie" xlink:href="ello-20231231.xsd#ello_MarketableSecuritie"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_MarketableSecuritie_lbl" xml:lang="en-US">Marketable securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MarketableSecuritie" xlink:to="ello_MarketableSecuritie_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ShortTermDeposits" xlink:href="ello-20231231.xsd#ello_ShortTermDeposits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ShortTermDeposits_lbl" xml:lang="en-US">Short-term deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShortTermDeposits" xlink:to="ello_ShortTermDeposits_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_ShortTermDeposits_lbl0" xml:lang="en-US">Short term deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShortTermDeposits" xlink:to="ello_ShortTermDeposits_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentRestrictedCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentRestrictedCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentRestrictedCashAndCashEquivalents_lbl" xml:lang="en-US">Restricted cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentRestrictedCashAndCashEquivalents" xlink:to="ifrs-full_CurrentRestrictedCashAndCashEquivalents_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentRestrictedCashAndCashEquivalents_lbl0" xml:lang="en-US">Short-term restricted cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentRestrictedCashAndCashEquivalents" xlink:to="ifrs-full_CurrentRestrictedCashAndCashEquivalents_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_CurrentRestrictedCashAndCashEquivalents_lbl1" xml:lang="en-US">Derivative financial assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentRestrictedCashAndCashEquivalents" xlink:to="ifrs-full_CurrentRestrictedCashAndCashEquivalents_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentReceivablesFromContractsWithCustomers" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentReceivablesFromContractsWithCustomers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentReceivablesFromContractsWithCustomers_lbl" xml:lang="en-US">Receivable from concession project</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentReceivablesFromContractsWithCustomers" xlink:to="ifrs-full_CurrentReceivablesFromContractsWithCustomers_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherIntangibleAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherIntangibleAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherIntangibleAssets_lbl" xml:lang="en-US">Intangible asset from green certificates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIntangibleAssets" xlink:to="ifrs-full_OtherIntangibleAssets_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherIntangibleAssets_lbl0" xml:lang="en-US">Intangible asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIntangibleAssets" xlink:to="ifrs-full_OtherIntangibleAssets_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TradeAndOtherCurrentReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl" xml:lang="en-US">Trade and other receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivables" xlink:to="ifrs-full_TradeAndOtherCurrentReceivables_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl0" xml:lang="en-US">Total Current Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivables" xlink:to="ifrs-full_TradeAndOtherCurrentReceivables_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_lbl" xml:lang="en-US">Assets of disposal groups classified as held for sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:to="ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentAssetsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentAssetsAbstract_lbl" xml:lang="en-US">Non-current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsAbstract" xlink:to="ifrs-full_NoncurrentAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AdvancesOnAccountOfInvestments" xlink:href="ello-20231231.xsd#ello_AdvancesOnAccountOfInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AdvancesOnAccountOfInvestments_lbl" xml:lang="en-US">Advances on account of investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdvancesOnAccountOfInvestments" xlink:to="ello_AdvancesOnAccountOfInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentReceivablesFromContractsWithCustomers" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentReceivablesFromContractsWithCustomers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentReceivablesFromContractsWithCustomers_lbl" xml:lang="en-US">Receivable from concession project</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentReceivablesFromContractsWithCustomers" xlink:to="ifrs-full_NoncurrentReceivablesFromContractsWithCustomers_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US">Intangible asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentRestrictedCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentRestrictedCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentRestrictedCashAndCashEquivalents_lbl" xml:lang="en-US">Restricted cash and deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentRestrictedCashAndCashEquivalents" xlink:to="ifrs-full_NoncurrentRestrictedCashAndCashEquivalents_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncurrentRestrictedCashAndCashEquivalents_lbl0" xml:lang="en-US">Non-current restricted cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentRestrictedCashAndCashEquivalents" xlink:to="ifrs-full_NoncurrentRestrictedCashAndCashEquivalents_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DeferredTaxAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DeferredTaxAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xml:lang="en-US">Deferred tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxAssets" xlink:to="ifrs-full_DeferredTaxAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentTradeReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentTradeReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentTradeReceivables_lbl" xml:lang="en-US">Long-term receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentTradeReceivables" xlink:to="ifrs-full_NoncurrentTradeReceivables_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncurrentTradeReceivables_lbl0" xml:lang="en-US">Long term receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentTradeReceivables" xlink:to="ifrs-full_NoncurrentTradeReceivables_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentDerivativeFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets_lbl" xml:lang="en-US">Derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:to="ifrs-full_NoncurrentDerivativeFinancialAssets_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets_lbl0" xml:lang="en-US">Derivatives presented under non-current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:to="ifrs-full_NoncurrentDerivativeFinancialAssets_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EquityAndLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xml:lang="en-US">Liabilities and Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilitiesAbstract" xlink:to="ifrs-full_EquityAndLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentLiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentLiabilitiesAbstract_lbl" xml:lang="en-US">Current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilitiesAbstract" xlink:to="ifrs-full_CurrentLiabilitiesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentLiabilitiesAbstract_lbl0" xml:lang="en-US">Current liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilitiesAbstract" xlink:to="ifrs-full_CurrentLiabilitiesAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ShorttermBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ShorttermBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShorttermBorrowings_lbl" xml:lang="en-US">Current maturities and short term bank loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermBorrowings" xlink:to="ifrs-full_ShorttermBorrowings_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ShorttermBorrowings_lbl0" xml:lang="en-US">Current maturities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermBorrowings" xlink:to="ifrs-full_ShorttermBorrowings_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentPortionOfLongtermBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl" xml:lang="en-US">Current maturities of other long-term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:to="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl0" xml:lang="en-US">Long-term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:to="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl" xml:lang="en-US">Current maturities of debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:to="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl0" xml:lang="en-US">Less current maturities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:to="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl1" xml:lang="en-US">Current maturities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:to="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl2" xml:lang="en-US">Current maturities of debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:to="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl2"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_lbl" xml:lang="en-US">Trade payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:to="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_lbl0" xml:lang="en-US">Trade payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:to="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentDerivativeFinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl" xml:lang="en-US">Current maturities of derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl0" xml:lang="en-US">Derivatives presented under current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl1" xml:lang="en-US">Current maturities of derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentLeaseLiabilities_lbl" xml:lang="en-US">Current maturities of lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLeaseLiabilities" xlink:to="ifrs-full_CurrentLeaseLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentLeaseLiabilities_lbl0" xml:lang="en-US">Current maturities of lease liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLeaseLiabilities" xlink:to="ifrs-full_CurrentLeaseLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_CurrentLeaseLiabilities_lbl1" xml:lang="en-US">Current maturities of lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLeaseLiabilities" xlink:to="ifrs-full_CurrentLeaseLiabilities_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_lbl" xml:lang="en-US">Liabilities of disposal groups classified as held for sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:to="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_lbl0" xml:lang="en-US">Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:to="ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract_lbl" xml:lang="en-US">Non-current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilitiesAbstract" xlink:to="ifrs-full_NoncurrentLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl" xml:lang="en-US">Long-term lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLeaseLiabilities" xlink:to="ifrs-full_NoncurrentLeaseLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl0" xml:lang="en-US">Long-term lease liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLeaseLiabilities" xlink:to="ifrs-full_NoncurrentLeaseLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl1" xml:lang="en-US">Long-term lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLeaseLiabilities" xlink:to="ifrs-full_NoncurrentLeaseLiabilities_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentPortionOfNoncurrentLoansReceived" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentPortionOfNoncurrentLoansReceived"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentPortionOfNoncurrentLoansReceived_lbl" xml:lang="en-US">Long-term bank loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentPortionOfNoncurrentLoansReceived" xlink:to="ifrs-full_NoncurrentPortionOfNoncurrentLoansReceived_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings_lbl" xml:lang="en-US">Other long-term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings" xlink:to="ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings_lbl0" xml:lang="en-US">Other long-term bank loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings" xlink:to="ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DeferredTaxLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DeferredTaxLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xml:lang="en-US">Deferred tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl0" xml:lang="en-US">Deferred tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherNoncurrentFinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherNoncurrentFinancialLiabilities_lbl" xml:lang="en-US">Other long-term liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:to="ifrs-full_OtherNoncurrentFinancialLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherNoncurrentFinancialLiabilities_lbl0" xml:lang="en-US">Total Other Long-term Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:to="ifrs-full_OtherNoncurrentFinancialLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_OtherNoncurrentFinancialLiabilities_lbl1" xml:lang="en-US">Other long-term liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:to="ifrs-full_OtherNoncurrentFinancialLiabilities_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities_lbl" xml:lang="en-US">Derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_NoncurrentDerivativeFinancialLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities_lbl0" xml:lang="en-US">Derivatives presented under non-current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_NoncurrentDerivativeFinancialLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities_lbl1" xml:lang="en-US">Derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_NoncurrentDerivativeFinancialLiabilities_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract" xlink:to="ello_UnlabeledAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IssuedCapital" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IssuedCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IssuedCapital_lbl" xml:lang="en-US">Share capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapital" xlink:to="ifrs-full_IssuedCapital_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SharePremium" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SharePremium"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SharePremium_lbl" xml:lang="en-US">Share premium</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharePremium" xlink:to="ifrs-full_SharePremium_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TransactionReserveWithNonControllingInterests" xlink:href="ello-20231231.xsd#ello_TransactionReserveWithNonControllingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TransactionReserveWithNonControllingInterests_lbl" xml:lang="en-US">Transaction reserve with non-controlling Interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionReserveWithNonControllingInterests" xlink:to="ello_TransactionReserveWithNonControllingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherReserves" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherReserves"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherReserves_lbl" xml:lang="en-US">Reserves</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReserves" xlink:to="ifrs-full_OtherReserves_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RetainedEarnings" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RetainedEarnings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RetainedEarnings_lbl" xml:lang="en-US">Accumulated deficit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarnings" xlink:to="ifrs-full_RetainedEarnings_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncontrollingInterests" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xml:lang="en-US">Non-Controlling Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterests" xlink:to="ifrs-full_NoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Revenue" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Revenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Revenue_lbl" xml:lang="en-US">Revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Revenue" xlink:to="ifrs-full_Revenue_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_Revenue_lbl0" xml:lang="en-US">Income for the year, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Revenue" xlink:to="ifrs-full_Revenue_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract1" xlink:to="ello_UnlabeledAbstract1_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncome" xlink:to="ifrs-full_FinanceIncome_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLossFromContinuingOperations_lbl" xml:lang="en-US">Profit (loss) from continuing operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromContinuingOperations" xlink:to="ifrs-full_ProfitLossFromContinuingOperations_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProfitLossFromDiscontinuedOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations_lbl" xml:lang="en-US">Profit (loss) from discontinued operation (net of tax)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:to="ifrs-full_ProfitLossFromDiscontinuedOperations_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncomeStatementAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncomeStatementAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncomeStatementAbstract_lbl" xml:lang="en-US">Profit (loss) attributable to:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeStatementAbstract" xlink:to="ifrs-full_IncomeStatementAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent_lbl" xml:lang="en-US">Owners of the Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent" xlink:to="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OtherComprehensiveIncomeLossItemsThatAfterInitialRecognitionInComprehensiveIncomeLossWereOrWillBeTransferredToProfitOrLossAbstract" xlink:href="ello-20231231.xsd#ello_OtherComprehensiveIncomeLossItemsThatAfterInitialRecognitionInComprehensiveIncomeLossWereOrWillBeTransferredToProfitOrLossAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OtherComprehensiveIncomeLossItemsThatAfterInitialRecognitionInComprehensiveIncomeLossWereOrWillBeTransferredToProfitOrLossAbstract_lbl" xml:lang="en-US">Other comprehensive income (loss) items that after initial recognition in comprehensive income (loss) were or will be transferred to profit or loss:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherComprehensiveIncomeLossItemsThatAfterInitialRecognitionInComprehensiveIncomeLossWereOrWillBeTransferredToProfitOrLossAbstract" xlink:to="ello_OtherComprehensiveIncomeLossItemsThatAfterInitialRecognitionInComprehensiveIncomeLossWereOrWillBeTransferredToProfitOrLossAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads_lbl" xml:lang="en-US">Foreign currency translation differences for foreign operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments_lbl" xml:lang="en-US">Effective portion of change in fair value of cash flow hedges</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss" xlink:href="ello-20231231.xsd#ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss" xlink:to="ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract2" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract2_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract2" xlink:to="ello_UnlabeledAbstract2_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_MiscellaneousOtherComprehensiveIncomeAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_MiscellaneousOtherComprehensiveIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MiscellaneousOtherComprehensiveIncomeAbstract_lbl" xml:lang="en-US">Total other comprehensive income (loss) attributable to:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MiscellaneousOtherComprehensiveIncomeAbstract" xlink:to="ifrs-full_MiscellaneousOtherComprehensiveIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent_lbl" xml:lang="en-US">Owners of the Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract3" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract3_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract3" xlink:to="ello_UnlabeledAbstract3_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract4" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract4"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract4_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract4" xlink:to="ello_UnlabeledAbstract4_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ComprehensiveIncomeAttributableToAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl" xml:lang="en-US">Total comprehensive income (loss) for the year attributable to:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" xml:lang="en-US">Owners of the Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract5" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract5"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract5" xlink:to="ello_UnlabeledAbstract5_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BasicEarningsLossPerShare" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BasicEarningsLossPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl" xml:lang="en-US">Basic net earning (loss) per share (in Euro per share and Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShare" xlink:to="ifrs-full_BasicEarningsLossPerShare_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl0" xml:lang="en-US">Basic net earning (loss) per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShare" xlink:to="ifrs-full_BasicEarningsLossPerShare_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl1" xml:lang="en-US">Basic earnings (loss) per share (in Euro per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShare" xlink:to="ifrs-full_BasicEarningsLossPerShare_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DilutedEarningsLossPerShare" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DilutedEarningsLossPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DilutedEarningsLossPerShare_lbl" xml:lang="en-US">Diluted net earning (loss) per share (in Euro per share and Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShare" xlink:to="ifrs-full_DilutedEarningsLossPerShare_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DilutedEarningsLossPerShare_lbl0" xml:lang="en-US">Diluted net earning (loss) per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShare" xlink:to="ifrs-full_DilutedEarningsLossPerShare_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_DilutedEarningsLossPerShare_lbl1" xml:lang="en-US">Diluted earnings (loss) per share (in Euro per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShare" xlink:to="ifrs-full_DilutedEarningsLossPerShare_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BasicEarningsLossPerShareFromContinuingOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations_lbl" xml:lang="en-US">Basic profit (loss) per share from continuing operations (in Euro per share and Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations" xlink:to="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations_lbl0" xml:lang="en-US">Basic profit (loss) per share from continuing operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations" xlink:to="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations_lbl" xml:lang="en-US">Diluted profit (loss) per share from continuing operations (in Euro per share and Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations" xlink:to="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations_lbl0" xml:lang="en-US">Diluted profit (loss) per share from continuing operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations" xlink:to="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations_lbl" xml:lang="en-US">Basic profit (loss) per share from discontinued operation (in Euro per share and Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations" xlink:to="ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations_lbl0" xml:lang="en-US">Basic profit (loss) per share from discontinued operation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations" xlink:to="ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations_lbl" xml:lang="en-US">Diluted profit (loss) per share from discontinued operation (in Euro per share and Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations" xlink:to="ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations_lbl0" xml:lang="en-US">Diluted profit (loss) per share from discontinued operation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations" xlink:to="ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTax_lbl" xml:lang="en-US">Other comprehensive income for the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeBeforeTax" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTax_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ComprehensiveIncomeloss" xlink:href="ello-20231231.xsd#ello_ComprehensiveIncomeloss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ComprehensiveIncomeloss_lbl" xml:lang="en-US">Total comprehensive income (loss) for the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ComprehensiveIncomeloss" xlink:to="ello_ComprehensiveIncomeloss_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract" xlink:href="ello-20231231.xsd#ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract_lbl" xml:lang="en-US">Transactions with owners of the Company, recognized directly in equity:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract" xlink:to="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl" xml:lang="en-US">Share-based payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract0" xlink:href="ello-20231231.xsd#ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract0_lbl" xml:lang="en-US">Transactions with owners of the Company, recognized directly in equity:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract0" xlink:to="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_IssuanceOfCapitalNoteToNoncontrollingInterest" xlink:href="ello-20231231.xsd#ello_IssuanceOfCapitalNoteToNoncontrollingInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_IssuanceOfCapitalNoteToNoncontrollingInterest_lbl" xml:lang="en-US">Issuance of Capital note to non-controlling interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IssuanceOfCapitalNoteToNoncontrollingInterest" xlink:to="ello_IssuanceOfCapitalNoteToNoncontrollingInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncreaseDecreaseThroughExerciseOfOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions_lbl" xml:lang="en-US">Options exercise</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions" xlink:to="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract1" xlink:href="ello-20231231.xsd#ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract1_lbl" xml:lang="en-US">Transactions with owners of the Company, recognized directly in equity:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract1" xlink:to="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract1_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IssueOfEquity" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IssueOfEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IssueOfEquity_lbl" xml:lang="en-US">Issuance of ordinary shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssueOfEquity" xlink:to="ifrs-full_IssueOfEquity_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_IssueOfEquity_lbl0" xml:lang="en-US">Issue of equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssueOfEquity" xlink:to="ifrs-full_IssueOfEquity_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_lbl" xml:lang="en-US">Acquisition of shares in subsidiaries from non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:to="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity_lbl" xml:lang="en-US">Warrants exercise</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:to="ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract2" xlink:href="ello-20231231.xsd#ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract2_lbl" xml:lang="en-US">Transactions with owners of the Company, recognized directly in equity:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract2" xlink:to="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract2_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CashFlowsFromOperatingActivitiesAbstract" xlink:href="ello-20231231.xsd#ello_CashFlowsFromOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CashFlowsFromOperatingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CashFlowsFromOperatingActivitiesAbstract" xlink:to="ello_CashFlowsFromOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract6" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract6"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract6_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract6" xlink:to="ello_UnlabeledAbstract6_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract7" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract7"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract7_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract7" xlink:to="ello_UnlabeledAbstract7_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AdjustmentsForAbstract" xlink:href="ello-20231231.xsd#ello_AdjustmentsForAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AdjustmentsForAbstract_lbl" xml:lang="en-US">Adjustments for:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdjustmentsForAbstract" xlink:to="ello_AdjustmentsForAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract8" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract8"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract8_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract8" xlink:to="ello_UnlabeledAbstract8_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AdjustmentsForFinancingExpensesNet" xlink:href="ello-20231231.xsd#ello_AdjustmentsForFinancingExpensesNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AdjustmentsForFinancingExpensesNet_lbl" xml:lang="en-US">Financing expenses, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdjustmentsForFinancingExpensesNet" xlink:to="ello_AdjustmentsForFinancingExpensesNet_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_lbl" xml:lang="en-US">Impairment losses on assets of disposal groups classified as held-for-sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:to="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_lbl" xml:lang="en-US">Depreciation and amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:to="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForSharebasedPayments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl" xml:lang="en-US">Share-based payment transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForSharebasedPayments" xlink:to="ifrs-full_AdjustmentsForSharebasedPayments_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl" xml:lang="en-US">Change in trade receivables and other receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets_lbl" xml:lang="en-US">Change in other assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject" xlink:href="ello-20231231.xsd#ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject_lbl" xml:lang="en-US">Change in receivables from concessions project</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject" xlink:to="ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl" xml:lang="en-US">Change in trade payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherOperatingPayables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInOtherOperatingPayables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherOperatingPayables_lbl" xml:lang="en-US">Change in other payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherOperatingPayables" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherOperatingPayables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForIncomeTaxExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense_lbl" xml:lang="en-US">Income tax expense (tax benefit)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:to="ifrs-full_AdjustmentsForIncomeTaxExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee" xlink:href="ello-20231231.xsd#ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee_lbl" xml:lang="en-US">Repayment of interest on loan from an equity accounted investee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee" xlink:to="ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestReceivedClassifiedAsOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestReceivedClassifiedAsOperatingActivities_lbl" xml:lang="en-US">Interest received</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:to="ifrs-full_InterestReceivedClassifiedAsOperatingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract9" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract9"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract9_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract9" xlink:to="ello_UnlabeledAbstract9_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CashFlowsFromInvestingActivitiesAbstract" xlink:href="ello-20231231.xsd#ello_CashFlowsFromInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CashFlowsFromInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from investing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CashFlowsFromInvestingActivitiesAbstract" xlink:to="ello_CashFlowsFromInvestingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract10" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract10"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract10_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract10" xlink:to="ello_UnlabeledAbstract10_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RepaymentOfLoanFromToEquityAccountedInvestee" xlink:href="ello-20231231.xsd#ello_RepaymentOfLoanFromToEquityAccountedInvestee"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RepaymentOfLoanFromToEquityAccountedInvestee_lbl" xml:lang="en-US">Repayment of loan to an equity accounted investee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaymentOfLoanFromToEquityAccountedInvestee" xlink:to="ello_RepaymentOfLoanFromToEquityAccountedInvestee_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ProceedsFromAdvancesOnAccountOfInvestmentsInProcess" xlink:href="ello-20231231.xsd#ello_ProceedsFromAdvancesOnAccountOfInvestmentsInProcess"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ProceedsFromAdvancesOnAccountOfInvestmentsInProcess_lbl" xml:lang="en-US">Proceeds from advances on account of investments in process</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromAdvancesOnAccountOfInvestmentsInProcess" xlink:to="ello_ProceedsFromAdvancesOnAccountOfInvestmentsInProcess_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ProceedsFromSettlementOfDerivativesNet" xlink:href="ello-20231231.xsd#ello_ProceedsFromSettlementOfDerivativesNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ProceedsFromSettlementOfDerivativesNet_lbl" xml:lang="en-US">Investment in settlement of derivatives, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromSettlementOfDerivativesNet" xlink:to="ello_ProceedsFromSettlementOfDerivativesNet_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents_lbl" xml:lang="en-US">Proceed from (investment in) restricted cash, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:to="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments_lbl" xml:lang="en-US">Proceeds from (investment in) short term deposit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:to="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract11" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract11"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract11_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract11" xlink:to="ello_UnlabeledAbstract11_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CashFlowsFromFinancingActivitiesAbstract" xlink:href="ello-20231231.xsd#ello_CashFlowsFromFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CashFlowsFromFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from financing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CashFlowsFromFinancingActivitiesAbstract" xlink:to="ello_CashFlowsFromFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract12" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract12"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract12_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract12" xlink:to="ello_UnlabeledAbstract12_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProceedsFromIssuingShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProceedsFromIssuingShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromIssuingShares_lbl" xml:lang="en-US">Sale of shares in subsidiaries to non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromIssuingShares" xlink:to="ifrs-full_ProceedsFromIssuingShares_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProceedsFromExerciseOfOptions" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProceedsFromExerciseOfOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromExerciseOfOptions_lbl" xml:lang="en-US">Proceeds from options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromExerciseOfOptions" xlink:to="ifrs-full_ProceedsFromExerciseOfOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProceedsFromNoncurrentBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProceedsFromNoncurrentBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromNoncurrentBorrowings_lbl" xml:lang="en-US">Proceeds from long-term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromNoncurrentBorrowings" xlink:to="ifrs-full_ProceedsFromNoncurrentBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RepaymentOfSwapInstrumentAssociatedWithLongTermLoans" xlink:href="ello-20231231.xsd#ello_RepaymentOfSwapInstrumentAssociatedWithLongTermLoans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RepaymentOfSwapInstrumentAssociatedWithLongTermLoans_lbl" xml:lang="en-US">Repayment of SWAP instrument associated with long term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaymentOfSwapInstrumentAssociatedWithLongTermLoans" xlink:to="ello_RepaymentOfSwapInstrumentAssociatedWithLongTermLoans_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ProceedFromSettlementOfDerivativesNet" xlink:href="ello-20231231.xsd#ello_ProceedFromSettlementOfDerivativesNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ProceedFromSettlementOfDerivativesNet_lbl" xml:lang="en-US">Proceed from settlement of derivatives, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedFromSettlementOfDerivativesNet" xlink:to="ello_ProceedFromSettlementOfDerivativesNet_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ProceedsFromIssuanceOfDebenturesNet" xlink:href="ello-20231231.xsd#ello_ProceedsFromIssuanceOfDebenturesNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ProceedsFromIssuanceOfDebenturesNet_lbl" xml:lang="en-US">Proceeds from issuance of Debentures, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromIssuanceOfDebenturesNet" xlink:to="ello_ProceedsFromIssuanceOfDebenturesNet_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract13" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract13"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract13_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract13" xlink:to="ello_UnlabeledAbstract13_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xml:lang="en-US">Effect of exchange rate fluctuations on cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract14" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract14"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract14_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract14" xlink:to="ello_UnlabeledAbstract14_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract15" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract15"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract15_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract15" xlink:to="ello_UnlabeledAbstract15_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract16" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract16"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract16_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract16" xlink:to="ello_UnlabeledAbstract16_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TreasuryShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TreasuryShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_TreasuryShares_lbl" xml:lang="en-US">Treasury shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TreasuryShares" xlink:to="ifrs-full_TreasuryShares_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OperatingExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OperatingExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_OperatingExpense_lbl" xml:lang="en-US">Operating expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OperatingExpense" xlink:to="ifrs-full_OperatingExpense_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OperatingExpense_lbl0" xml:lang="en-US">Operating expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OperatingExpense" xlink:to="ifrs-full_OperatingExpense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_OperatingExpense_lbl1" xml:lang="en-US">Operating expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OperatingExpense" xlink:to="ifrs-full_OperatingExpense_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DepreciationAndAmortisationExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DepreciationAndAmortisationExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl" xml:lang="en-US">Depreciation and amortization expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationAndAmortisationExpense" xlink:to="ifrs-full_DepreciationAndAmortisationExpense_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl0" xml:lang="en-US">Depreciation and amortization expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationAndAmortisationExpense" xlink:to="ifrs-full_DepreciationAndAmortisationExpense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl1" xml:lang="en-US">Depreciation expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationAndAmortisationExpense" xlink:to="ifrs-full_DepreciationAndAmortisationExpense_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_ProjectDevelopmentCosts" xlink:href="ello-20231231.xsd#ello_ProjectDevelopmentCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_ProjectDevelopmentCosts_lbl" xml:lang="en-US">Project development costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProjectDevelopmentCosts" xlink:to="ello_ProjectDevelopmentCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SellingGeneralAndAdministrativeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">General and administrative expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl0" xml:lang="en-US">Project development costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinanceCosts" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FinanceCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_FinanceCosts_lbl" xml:lang="en-US">Financing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceCosts" xlink:to="ifrs-full_FinanceCosts_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinanceCosts_lbl0" xml:lang="en-US">Financing expenses in connection with derivatives and warrants, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceCosts" xlink:to="ifrs-full_FinanceCosts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_FinanceCosts_lbl1" xml:lang="en-US">Financing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceCosts" xlink:to="ifrs-full_FinanceCosts_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_FinanceCosts_lbl2" xml:lang="en-US">Finance cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceCosts" xlink:to="ifrs-full_FinanceCosts_lbl2"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xml:lang="en-US">Tax benefit (Taxes on income)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl0" xml:lang="en-US">Taxes on income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ProfitFromSettlementOfDerivativesContract" xlink:href="ello-20231231.xsd#ello_ProfitFromSettlementOfDerivativesContract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_ProfitFromSettlementOfDerivativesContract_lbl" xml:lang="en-US">Profit from settlement of derivatives contract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProfitFromSettlementOfDerivativesContract" xlink:to="ello_ProfitFromSettlementOfDerivativesContract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities_lbl" xml:lang="en-US">Income taxes paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities" xlink:to="ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestPaidClassifiedAsOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities_lbl" xml:lang="en-US">Interest paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:to="ifrs-full_InterestPaidClassifiedAsOperatingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Acquisition of fixed assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestPaidClassifiedAsInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestPaidClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_InterestPaidClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Interest paid capitalized to fixed assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestPaidClassifiedAsInvestingActivities" xlink:to="ifrs-full_InterestPaidClassifiedAsInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoanToEquityAccountedInvestee" xlink:href="ello-20231231.xsd#ello_LoanToEquityAccountedInvestee"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_LoanToEquityAccountedInvestee_lbl" xml:lang="en-US">Loan to an equity accounted investee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanToEquityAccountedInvestee" xlink:to="ello_LoanToEquityAccountedInvestee_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AdvancesOnAccountOfInvestment" xlink:href="ello-20231231.xsd#ello_AdvancesOnAccountOfInvestment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_AdvancesOnAccountOfInvestment_lbl" xml:lang="en-US">Advances on account of investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdvancesOnAccountOfInvestment" xlink:to="ello_AdvancesOnAccountOfInvestment_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ProceedsFrominvestmentInMarketableSecurities" xlink:href="ello-20231231.xsd#ello_ProceedsFrominvestmentInMarketableSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_ProceedsFrominvestmentInMarketableSecurities_lbl" xml:lang="en-US">Proceeds from sales of (investment in) marketable securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFrominvestmentInMarketableSecurities" xlink:to="ello_ProceedsFrominvestmentInMarketableSecurities_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CostAssociatedWithLongTermLoans" xlink:href="ello-20231231.xsd#ello_CostAssociatedWithLongTermLoans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_CostAssociatedWithLongTermLoans_lbl" xml:lang="en-US">Cost associated with long-term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CostAssociatedWithLongTermLoans" xlink:to="ello_CostAssociatedWithLongTermLoans_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PaymentOfPrincipalOfLeaseLiabilities" xlink:href="ello-20231231.xsd#ello_PaymentOfPrincipalOfLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_PaymentOfPrincipalOfLeaseLiabilities_lbl" xml:lang="en-US">Payment of principal of lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentOfPrincipalOfLeaseLiabilities" xlink:to="ello_PaymentOfPrincipalOfLeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RepaymentsOfNoncurrentBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RepaymentsOfNoncurrentBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_RepaymentsOfNoncurrentBorrowings_lbl" xml:lang="en-US">Repayment of long-term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfNoncurrentBorrowings" xlink:to="ifrs-full_RepaymentsOfNoncurrentBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RepaymentsOfBondsNotesAndDebentures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_RepaymentsOfBondsNotesAndDebentures_lbl" xml:lang="en-US">Repayment of Debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:to="ifrs-full_RepaymentsOfBondsNotesAndDebentures_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ProceedsFromIssuanceOfConvertibleDebentures" xlink:href="ello-20231231.xsd#ello_ProceedsFromIssuanceOfConvertibleDebentures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_ProceedsFromIssuanceOfConvertibleDebentures_lbl" xml:lang="en-US">Proceeds from issue of convertible debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromIssuanceOfConvertibleDebentures" xlink:to="ello_ProceedsFromIssuanceOfConvertibleDebentures_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_IssueOfWarrants" xlink:href="ello-20231231.xsd#ello_IssueOfWarrants"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_IssueOfWarrants_lbl" xml:lang="en-US">Proceeds from issuance / exercise of warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IssueOfWarrants" xlink:to="ello_IssueOfWarrants_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations_lbl" xml:lang="en-US">Cash from disposal groups classified as held-for-sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:to="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_BusinessContactMember" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_BusinessContactMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_BusinessContactMember_lbl" xml:lang="en-US">Business contact</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_BusinessContactMember" xlink:to="dei_BusinessContactMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="dei_BusinessContactMember_lbl0" xml:lang="en-US">Business Contact</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_BusinessContactMember" xlink:to="dei_BusinessContactMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IssuedCapitalMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IssuedCapitalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IssuedCapitalMember_lbl" xml:lang="en-US">Share capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapitalMember" xlink:to="ifrs-full_IssuedCapitalMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SharePremiumMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SharePremiumMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SharePremiumMember_lbl" xml:lang="en-US">Share premium</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharePremiumMember" xlink:to="ifrs-full_SharePremiumMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RetainedEarningsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RetainedEarningsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xml:lang="en-US">Accumulated deficit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarningsMember" xlink:to="ifrs-full_RetainedEarningsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TreasurySharesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TreasurySharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TreasurySharesMember_lbl" xml:lang="en-US">Treasury shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TreasurySharesMember" xlink:to="ifrs-full_TreasurySharesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ReserveOfChangeInValueOfForeignCurrencyBasisSpreadsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ReserveOfChangeInValueOfForeignCurrencyBasisSpreadsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ReserveOfChangeInValueOfForeignCurrencyBasisSpreadsMember_lbl" xml:lang="en-US">Translation reserve from foreign operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfChangeInValueOfForeignCurrencyBasisSpreadsMember" xlink:to="ifrs-full_ReserveOfChangeInValueOfForeignCurrencyBasisSpreadsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember" xlink:href="ello-20231231.xsd#ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember_lbl" xml:lang="en-US">Hedging Reserve</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember" xlink:to="ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TransactionReserveWithNonControllingInterestsMember" xlink:href="ello-20231231.xsd#ello_TransactionReserveWithNonControllingInterestsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TransactionReserveWithNonControllingInterestsMember_lbl" xml:lang="en-US">Transaction reserve with non-controlling Interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionReserveWithNonControllingInterestsMember" xlink:to="ello_TransactionReserveWithNonControllingInterestsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EquityAttributableToOwnersOfParentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityAttributableToOwnersOfParentMember_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:to="ifrs-full_EquityAttributableToOwnersOfParentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncontrollingInterestsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncontrollingInterestsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncontrollingInterestsMember_lbl" xml:lang="en-US">Non- controlling Interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterestsMember" xlink:to="ifrs-full_NoncontrollingInterestsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_lbl" xml:lang="en-US">General</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:to="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory_lbl" xml:lang="en-US">Basis of Preparation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" xlink:to="ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfMaterialAccountingPolicyInformationExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfMaterialAccountingPolicyInformationExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfMaterialAccountingPolicyInformationExplanatory_lbl" xml:lang="en-US">Material Accounting Policies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfMaterialAccountingPolicyInformationExplanatory" xlink:to="ifrs-full_DisclosureOfMaterialAccountingPolicyInformationExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutScheduleOfEstimatedUsefulLivesExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutScheduleOfEstimatedUsefulLivesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutScheduleOfEstimatedUsefulLivesExplanatory_lbl" xml:lang="en-US">Schedule of Estimated Useful Lives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutScheduleOfEstimatedUsefulLivesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutScheduleOfEstimatedUsefulLivesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentagePropertyPlant" xlink:href="ello-20231231.xsd#ello_PercentagePropertyPlant"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentagePropertyPlant_lbl" xml:lang="en-US">Percentage per annum</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentagePropertyPlant" xlink:to="ello_PercentagePropertyPlant_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment" xlink:href="ello-20231231.xsd#ello_MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment_lbl" xml:lang="en-US">Mainly percentage per annum</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment" xlink:to="ello_MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LeaseholdImprovements" xlink:href="ello-20231231.xsd#ello_LeaseholdImprovements"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LeaseholdImprovements_lbl" xml:lang="en-US">Leasehold improvements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LeaseholdImprovements" xlink:to="ello_LeaseholdImprovements_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory_lbl" xml:lang="en-US">Cash and Cash Equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:to="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfCashAndCashEquivalentstableTextBlock" xlink:href="ello-20231231.xsd#ello_DisclosureOfCashAndCashEquivalentstableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfCashAndCashEquivalentstableTextBlock_lbl" xml:lang="en-US">Schedule of Cash and Cash Equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfCashAndCashEquivalentstableTextBlock" xlink:to="ello_DisclosureOfCashAndCashEquivalentstableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Cash" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Cash"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Cash_lbl" xml:lang="en-US">Cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Cash" xlink:to="ifrs-full_Cash_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_lbl" xml:lang="en-US">On call deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_lbl0" xml:lang="en-US">Short-term deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract17" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract17"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract17_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract17" xlink:to="ello_UnlabeledAbstract17_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory_lbl" xml:lang="en-US">Restricted Cash, Deposits and Marketable Securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory" xlink:to="ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory_lbl" xml:lang="en-US">Schedule of Restricted Cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentHeldtomaturityInvestments" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentHeldtomaturityInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentHeldtomaturityInvestments_lbl" xml:lang="en-US">Marketable securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentHeldtomaturityInvestments" xlink:to="ifrs-full_CurrentHeldtomaturityInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract18" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract18"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract18_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract18" xlink:to="ello_UnlabeledAbstract18_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract19" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract19"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract19_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract19" xlink:to="ello_UnlabeledAbstract19_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract20" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract20"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract20_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract20" xlink:to="ello_UnlabeledAbstract20_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RestrictedCashAndLongTermBankDeposits" xlink:href="ello-20231231.xsd#ello_RestrictedCashAndLongTermBankDeposits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RestrictedCashAndLongTermBankDeposits_lbl" xml:lang="en-US">Restricted cash and bank deposits, long-term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RestrictedCashAndLongTermBankDeposits" xlink:to="ello_RestrictedCashAndLongTermBankDeposits_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_RestrictedCashAndLongTermBankDeposits_lbl0" xml:lang="en-US">Restricted cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RestrictedCashAndLongTermBankDeposits" xlink:to="ello_RestrictedCashAndLongTermBankDeposits_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory_lbl" xml:lang="en-US">Investee Companies and other investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory" xlink:to="ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutCompositionExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutCompositionExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutCompositionExplanatory_lbl" xml:lang="en-US">Schedule of Composition of Investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutCompositionExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutCompositionExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_InvestmentInShares" xlink:href="ello-20231231.xsd#ello_InvestmentInShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_InvestmentInShares_lbl" xml:lang="en-US">Investment in shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InvestmentInShares" xlink:to="ello_InvestmentInShares_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_InvestmentInShares_lbl0" xml:lang="en-US">Carrying amount ofinvestment, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InvestmentInShares" xlink:to="ello_InvestmentInShares_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_LongTermInvestment" xlink:href="ello-20231231.xsd#ello_LongTermInvestment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LongTermInvestment_lbl" xml:lang="en-US">Long-term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LongTermInvestment" xlink:to="ello_LongTermInvestment_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract21" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract21"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract21_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract21" xlink:to="ello_UnlabeledAbstract21_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract22" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract22"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract22_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract22" xlink:to="ello_UnlabeledAbstract22_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutChangesInInvestmentsExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutChangesInInvestmentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutChangesInInvestmentsExplanatory_lbl" xml:lang="en-US">Schedule of Changes in Investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutChangesInInvestmentsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutChangesInInvestmentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LongTermLoansExtended" xlink:href="ello-20231231.xsd#ello_LongTermLoansExtended"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LongTermLoansExtended_lbl" xml:lang="en-US">Long term loans extended</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LongTermLoansExtended" xlink:to="ello_LongTermLoansExtended_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RepaymentOfLongTermLoans" xlink:href="ello-20231231.xsd#ello_RepaymentOfLongTermLoans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RepaymentOfLongTermLoans_lbl" xml:lang="en-US">Repayment of long-term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaymentOfLongTermLoans" xlink:to="ello_RepaymentOfLongTermLoans_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_InterestOnLongTermLoans" xlink:href="ello-20231231.xsd#ello_InterestOnLongTermLoans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_InterestOnLongTermLoans_lbl" xml:lang="en-US">Reevaluation in connection with long term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestOnLongTermLoans" xlink:to="ello_InterestOnLongTermLoans_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod_lbl" xml:lang="en-US">The Company&#8217;s share of income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod_lbl0" xml:lang="en-US">Company&#8217;s share of income of investee, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod_lbl1" xml:lang="en-US">Share of loss of equity accounted investee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_ForeignCurrencyTranslationAdjustments" xlink:href="ello-20231231.xsd#ello_ForeignCurrencyTranslationAdjustments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ForeignCurrencyTranslationAdjustments_lbl" xml:lang="en-US">Foreign currency translation adjustments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ForeignCurrencyTranslationAdjustments" xlink:to="ello_ForeignCurrencyTranslationAdjustments_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ConversionToShortTermLoan" xlink:href="ello-20231231.xsd#ello_ConversionToShortTermLoan"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ConversionToShortTermLoan_lbl" xml:lang="en-US">Conversion to short term loan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConversionToShortTermLoan" xlink:to="ello_ConversionToShortTermLoan_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutFinancialPositionForInvestmentsExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutFinancialPositionForInvestmentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutFinancialPositionForInvestmentsExplanatory_lbl" xml:lang="en-US">Schedule of Information on Financial Position</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutFinancialPositionForInvestmentsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutFinancialPositionForInvestmentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_a2023Abstract" xlink:href="ello-20231231.xsd#ello_a2023Abstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_a2023Abstract_lbl" xml:lang="en-US">2023</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_a2023Abstract" xlink:to="ello_a2023Abstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xml:lang="en-US">Rate of ownership, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl0" xml:lang="en-US">Proportion of ownership interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl1" xml:lang="en-US">Owned Israeli subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl2" xml:lang="en-US">Ownership percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl2"/>
    <loc xlink:type="locator" xlink:label="ello_SurplusCostsAndGoodwill" xlink:href="ello-20231231.xsd#ello_SurplusCostsAndGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SurplusCostsAndGoodwill_lbl" xml:lang="en-US">Surplus costs and goodwill, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SurplusCostsAndGoodwill" xlink:to="ello_SurplusCostsAndGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OtherAdjustmentsInvestment" xlink:href="ello-20231231.xsd#ello_OtherAdjustmentsInvestment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OtherAdjustmentsInvestment_lbl" xml:lang="en-US">Other adjustments, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherAdjustmentsInvestment" xlink:to="ello_OtherAdjustmentsInvestment_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract23" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract23"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract23_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract23" xlink:to="ello_UnlabeledAbstract23_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_a2022Abstract" xlink:href="ello-20231231.xsd#ello_a2022Abstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_a2022Abstract_lbl" xml:lang="en-US">2022</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_a2022Abstract" xlink:to="ello_a2022Abstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutInformationOnOperatingResultsExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutInformationOnOperatingResultsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutInformationOnOperatingResultsExplanatory_lbl" xml:lang="en-US">Schedule of Information on Operating Results</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutInformationOnOperatingResultsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutInformationOnOperatingResultsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_a2023Abstract0" xlink:href="ello-20231231.xsd#ello_a2023Abstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_a2023Abstract0_lbl" xml:lang="en-US">2023</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_a2023Abstract0" xlink:to="ello_a2023Abstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xml:lang="en-US">Company&#8217;s share, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EliminationOfInterestOnLoanFromRelatedParty" xlink:href="ello-20231231.xsd#ello_EliminationOfInterestOnLoanFromRelatedParty"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EliminationOfInterestOnLoanFromRelatedParty_lbl" xml:lang="en-US">Elimination of interest on loan from related party, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EliminationOfInterestOnLoanFromRelatedParty" xlink:to="ello_EliminationOfInterestOnLoanFromRelatedParty_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract24" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract24"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract24_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract24" xlink:to="ello_UnlabeledAbstract24_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_a2022Abstract0" xlink:href="ello-20231231.xsd#ello_a2022Abstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_a2022Abstract0_lbl" xml:lang="en-US">2022</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_a2022Abstract0" xlink:to="ello_a2022Abstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutCompositionOfAdvancesOnAccountOfInvestmentsExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutCompositionOfAdvancesOnAccountOfInvestmentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutCompositionOfAdvancesOnAccountOfInvestmentsExplanatory_lbl" xml:lang="en-US">Schedule of Composition of Advances on Account of Investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutCompositionOfAdvancesOnAccountOfInvestmentsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutCompositionOfAdvancesOnAccountOfInvestmentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CompositionOfAdvancesOnAccountOfInvestments" xlink:href="ello-20231231.xsd#ello_CompositionOfAdvancesOnAccountOfInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CompositionOfAdvancesOnAccountOfInvestments_lbl" xml:lang="en-US">On account of development of PV projects in Italy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompositionOfAdvancesOnAccountOfInvestments" xlink:to="ello_CompositionOfAdvancesOnAccountOfInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory_lbl" xml:lang="en-US">Trade and Other Receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:to="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfTradeAndOtherReceivablesTableTextBlock" xlink:href="ello-20231231.xsd#ello_DisclosureOfTradeAndOtherReceivablesTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfTradeAndOtherReceivablesTableTextBlock_lbl" xml:lang="en-US">Schedule of Current Assets - Trade and Other receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfTradeAndOtherReceivablesTableTextBlock" xlink:to="ello_DisclosureOfTradeAndOtherReceivablesTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrentAssetsTradeAndOtherReceivablesAbstract" xlink:href="ello-20231231.xsd#ello_CurrentAssetsTradeAndOtherReceivablesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CurrentAssetsTradeAndOtherReceivablesAbstract_lbl" xml:lang="en-US">Current Assets - Trade and Other receivables:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentAssetsTradeAndOtherReceivablesAbstract" xlink:to="ello_CurrentAssetsTradeAndOtherReceivablesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_GovernmentAuthoritiesCurrentReceivables" xlink:href="ello-20231231.xsd#ello_GovernmentAuthoritiesCurrentReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_GovernmentAuthoritiesCurrentReceivables_lbl" xml:lang="en-US">Government authorities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GovernmentAuthoritiesCurrentReceivables" xlink:to="ello_GovernmentAuthoritiesCurrentReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrentIncomeReceivable" xlink:href="ello-20231231.xsd#ello_CurrentIncomeReceivable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CurrentIncomeReceivable_lbl" xml:lang="en-US">Income receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentIncomeReceivable" xlink:to="ello_CurrentIncomeReceivable_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_CurrentIncomeReceivable_lbl0" xml:lang="en-US">Revenue receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentIncomeReceivable" xlink:to="ello_CurrentIncomeReceivable_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentInterestReceivable" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentInterestReceivable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentInterestReceivable_lbl" xml:lang="en-US">Interest receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentInterestReceivable" xlink:to="ifrs-full_CurrentInterestReceivable_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentTaxAssetsCurrent" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentTaxAssetsCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentTaxAssetsCurrent_lbl" xml:lang="en-US">Advance tax payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxAssetsCurrent" xlink:to="ifrs-full_CurrentTaxAssetsCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentTradeReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentTradeReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentTradeReceivables_lbl" xml:lang="en-US">Trade receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTradeReceivables" xlink:to="ifrs-full_CurrentTradeReceivables_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentTradeReceivables_lbl0" xml:lang="en-US">Trade receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTradeReceivables" xlink:to="ifrs-full_CurrentTradeReceivables_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Inventories" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Inventories"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Inventories_lbl" xml:lang="en-US">Inventory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Inventories" xlink:to="ifrs-full_Inventories_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentDerivativeFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets_lbl" xml:lang="en-US">Derivatives (see Note 21)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialAssets" xlink:to="ifrs-full_CurrentDerivativeFinancialAssets_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets_lbl0" xml:lang="en-US">Derivatives presented under current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialAssets" xlink:to="ifrs-full_CurrentDerivativeFinancialAssets_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_LoanToOthersinDollars" xlink:href="ello-20231231.xsd#ello_LoanToOthersinDollars"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LoanToOthersinDollars_lbl" xml:lang="en-US">Loan to others</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanToOthersinDollars" xlink:to="ello_LoanToOthersinDollars_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentPrepaidExpenses" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentPrepaidExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl" xml:lang="en-US">Prepaid expenses and other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepaidExpenses" xlink:to="ifrs-full_CurrentPrepaidExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrentMaturitiesOfLoansGivenToAnEquityAccountedInvestee" xlink:href="ello-20231231.xsd#ello_CurrentMaturitiesOfLoansGivenToAnEquityAccountedInvestee"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CurrentMaturitiesOfLoansGivenToAnEquityAccountedInvestee_lbl" xml:lang="en-US">Current maturities of loans given to an equity accounted investee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentMaturitiesOfLoansGivenToAnEquityAccountedInvestee" xlink:to="ello_CurrentMaturitiesOfLoansGivenToAnEquityAccountedInvestee_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NonCurrentAssetsLongTermReceivablesAbstract" xlink:href="ello-20231231.xsd#ello_NonCurrentAssetsLongTermReceivablesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NonCurrentAssetsLongTermReceivablesAbstract_lbl" xml:lang="en-US">Non-current Assets - Long term receivables:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonCurrentAssetsLongTermReceivablesAbstract" xlink:to="ello_NonCurrentAssetsLongTermReceivablesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PrepaidExpensesAssociatedWithLongTermLoans" xlink:href="ello-20231231.xsd#ello_PrepaidExpensesAssociatedWithLongTermLoans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PrepaidExpensesAssociatedWithLongTermLoans_lbl" xml:lang="en-US">Prepaid expenses associated with long-term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PrepaidExpensesAssociatedWithLongTermLoans" xlink:to="ello_PrepaidExpensesAssociatedWithLongTermLoans_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentReceivablesFromRentalOfProperties" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentReceivablesFromRentalOfProperties"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentReceivablesFromRentalOfProperties_lbl" xml:lang="en-US">Annual rent deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentReceivablesFromRentalOfProperties" xlink:to="ifrs-full_NoncurrentReceivablesFromRentalOfProperties_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoansToOthers" xlink:href="ello-20231231.xsd#ello_LoansToOthers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LoansToOthers_lbl" xml:lang="en-US">Loans to others</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansToOthers" xlink:to="ello_LoansToOthers_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherNoncurrentReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherNoncurrentReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherNoncurrentReceivables_lbl" xml:lang="en-US">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentReceivables" xlink:to="ifrs-full_OtherNoncurrentReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory_lbl" xml:lang="en-US">Fixed assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_lbl" xml:lang="en-US">Schedule of Fixed Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CostAbstract" xlink:href="ello-20231231.xsd#ello_CostAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CostAbstract_lbl" xml:lang="en-US">Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CostAbstract" xlink:to="ello_CostAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xml:lang="en-US">Additions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ChangesInPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ChangesInPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ChangesInPropertyPlantAndEquipment_lbl" xml:lang="en-US">Effect of changes in exchange rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ChangesInPropertyPlantAndEquipment" xlink:to="ifrs-full_ChangesInPropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract25" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract25"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract25_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract25" xlink:to="ello_UnlabeledAbstract25_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract26" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract26"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract26_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract26" xlink:to="ello_UnlabeledAbstract26_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DepreciationAndAmortisationExpenseAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DepreciationAndAmortisationExpenseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepreciationAndAmortisationExpenseAbstract_lbl" xml:lang="en-US">Depreciation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationAndAmortisationExpenseAbstract" xlink:to="ifrs-full_DepreciationAndAmortisationExpenseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DepreciationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl" xml:lang="en-US">Depreciation for the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:to="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract27" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract27"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract27_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract27" xlink:to="ello_UnlabeledAbstract27_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract28" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract28"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract28_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract28" xlink:to="ello_UnlabeledAbstract28_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CarryingAmountsAbstract" xlink:href="ello-20231231.xsd#ello_CarryingAmountsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CarryingAmountsAbstract_lbl" xml:lang="en-US">Carrying amounts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CarryingAmountsAbstract" xlink:to="ello_CarryingAmountsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory_lbl" xml:lang="en-US">Schedule of Investments in Photovoltaic Plants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OriginalNominalCapacityPlant" xlink:href="ello-20231231.xsd#ello_OriginalNominalCapacityPlant"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OriginalNominalCapacityPlant_lbl" xml:lang="en-US">Original nominal capacity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OriginalNominalCapacityPlant" xlink:to="ello_OriginalNominalCapacityPlant_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ConnectionToGrid" xlink:href="ello-20231231.xsd#ello_ConnectionToGrid"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ConnectionToGrid_lbl" xml:lang="en-US">Connection to grid/Other status</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConnectionToGrid" xlink:to="ello_ConnectionToGrid_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CostIncludedInBookValue" xlink:href="ello-20231231.xsd#ello_CostIncludedInBookValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CostIncludedInBookValue_lbl" xml:lang="en-US">Cost included in book value as at December 31, 2023 (in Euro)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CostIncludedInBookValue" xlink:to="ello_CostIncludedInBookValue_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory_lbl" xml:lang="en-US">Other Payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:to="ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutOtherPayablesExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutOtherPayablesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutOtherPayablesExplanatory_lbl" xml:lang="en-US">Schedule of Other Payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutOtherPayablesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutOtherPayablesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent" xlink:href="ello-20231231.xsd#ello_EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent_lbl" xml:lang="en-US">Employees and payroll accruals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent" xlink:to="ello_EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrentPayableToGovernmentAuthorities" xlink:href="ello-20231231.xsd#ello_CurrentPayableToGovernmentAuthorities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CurrentPayableToGovernmentAuthorities_lbl" xml:lang="en-US">Government authorities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentPayableToGovernmentAuthorities" xlink:to="ello_CurrentPayableToGovernmentAuthorities_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DeferredRevenues" xlink:href="ello-20231231.xsd#ello_DeferredRevenues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DeferredRevenues_lbl" xml:lang="en-US">Deferred revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DeferredRevenues" xlink:to="ello_DeferredRevenues_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AccruedExpensesConnectedToManaraPsp" xlink:href="ello-20231231.xsd#ello_AccruedExpensesConnectedToManaraPsp"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AccruedExpensesConnectedToManaraPsp_lbl" xml:lang="en-US">Accrued expenses connected to Manara PSP</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AccruedExpensesConnectedToManaraPsp" xlink:to="ello_AccruedExpensesConnectedToManaraPsp_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities_lbl" xml:lang="en-US">Other accrued expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:to="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl" xml:lang="en-US">Taxes on income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:to="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlock" xlink:href="ello-20231231.xsd#ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlock_lbl" xml:lang="en-US">Current maturities and short term bank loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlock" xlink:to="ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclodurOfCurrentMaturitiesAndShortTermBankLoansTableTextBlock" xlink:href="ello-20231231.xsd#ello_DisclodurOfCurrentMaturitiesAndShortTermBankLoansTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclodurOfCurrentMaturitiesAndShortTermBankLoansTableTextBlock_lbl" xml:lang="en-US">Schedule of Current Maturities and Short Term Bank Loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclodurOfCurrentMaturitiesAndShortTermBankLoansTableTextBlock" xlink:to="ello_DisclodurOfCurrentMaturitiesAndShortTermBankLoansTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BorrowingsOriginalCurrency" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BorrowingsOriginalCurrency"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BorrowingsOriginalCurrency_lbl" xml:lang="en-US">Linkage terms</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsOriginalCurrency" xlink:to="ifrs-full_BorrowingsOriginalCurrency_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_BorrowingInterestRate" xlink:href="ello-20231231.xsd#ello_BorrowingInterestRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_BorrowingInterestRate_lbl" xml:lang="en-US">Borrowings, interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BorrowingInterestRate" xlink:to="ello_BorrowingInterestRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrentPortionOfLongTermBankLoans" xlink:href="ello-20231231.xsd#ello_CurrentPortionOfLongTermBankLoans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CurrentPortionOfLongTermBankLoans_lbl" xml:lang="en-US">Current portion of long term bank loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentPortionOfLongTermBankLoans" xlink:to="ello_CurrentPortionOfLongTermBankLoans_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OtherLongTermBorrowingsOriginalCurrency" xlink:href="ello-20231231.xsd#ello_OtherLongTermBorrowingsOriginalCurrency"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OtherLongTermBorrowingsOriginalCurrency_lbl" xml:lang="en-US">Other long term borrowings original currency</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherLongTermBorrowingsOriginalCurrency" xlink:to="ello_OtherLongTermBorrowingsOriginalCurrency_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OtherLongTermBorrowingsInterestRate" xlink:href="ello-20231231.xsd#ello_OtherLongTermBorrowingsInterestRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OtherLongTermBorrowingsInterestRate_lbl" xml:lang="en-US">Interest rate of other long term borrowings interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherLongTermBorrowingsInterestRate" xlink:to="ello_OtherLongTermBorrowingsInterestRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings_lbl" xml:lang="en-US">Current borrowings and current portion of non-current borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:to="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfBorrowingsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfBorrowingsExplanatory_lbl" xml:lang="en-US">Loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:to="ifrs-full_DisclosureOfBorrowingsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory_lbl" xml:lang="en-US">Schedule of Loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrentMaturities" xlink:href="ello-20231231.xsd#ello_CurrentMaturities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CurrentMaturities_lbl" xml:lang="en-US">Linkage terms</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentMaturities" xlink:to="ello_CurrentMaturities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BorrowingsInterestRateBasis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BorrowingsInterestRateBasis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BorrowingsInterestRateBasis_lbl" xml:lang="en-US">Borrowings, interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRateBasis" xlink:to="ifrs-full_BorrowingsInterestRateBasis_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BorrowingsInterestRateBasis_lbl0" xml:lang="en-US">Annual interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRateBasis" xlink:to="ifrs-full_BorrowingsInterestRateBasis_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_InterestRate" xlink:href="ello-20231231.xsd#ello_InterestRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_InterestRate_lbl" xml:lang="en-US">Current maturities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestRate" xlink:to="ello_InterestRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract29" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract29"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract29_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract29" xlink:to="ello_UnlabeledAbstract29_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract30" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract30"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract30_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract30" xlink:to="ello_UnlabeledAbstract30_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory_lbl" xml:lang="en-US">Schedule of Aggregate Annual Maturities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract31" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract31"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract31_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract31" xlink:to="ello_UnlabeledAbstract31_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ShorttermLoansinDollars" xlink:href="ello-20231231.xsd#ello_ShorttermLoansinDollars"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ShorttermLoansinDollars_lbl" xml:lang="en-US">Short-term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShorttermLoansinDollars" xlink:to="ello_ShorttermLoansinDollars_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Borrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Borrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Borrowings_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Borrowings" xlink:to="ifrs-full_Borrowings_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_Borrowings_lbl0" xml:lang="en-US">Loan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Borrowings" xlink:to="ifrs-full_Borrowings_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_Borrowings_lbl1" xml:lang="en-US">Amount of loan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Borrowings" xlink:to="ifrs-full_Borrowings_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Borrowings_lbl2" xml:lang="en-US">Aggregate principal amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Borrowings" xlink:to="ifrs-full_Borrowings_lbl2"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory_lbl" xml:lang="en-US">Schedule of Movement in Liabilities Deriving from Financing Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ChangesFromFinancingActivitiesAbstract" xlink:href="ello-20231231.xsd#ello_ChangesFromFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ChangesFromFinancingActivitiesAbstract_lbl" xml:lang="en-US">Changes from financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ChangesFromFinancingActivitiesAbstract" xlink:to="ello_ChangesFromFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_lbl" xml:lang="en-US">Proceeds from issue of debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:to="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_lbl0" xml:lang="en-US">Net proceeds from offering</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:to="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_lbl" xml:lang="en-US">Receipt of loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestPaidClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestPaidClassifiedAsFinancingActivities_lbl" xml:lang="en-US">Accrued interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:to="ifrs-full_InterestPaidClassifiedAsFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LinkageValueOfLoansAndBorrowings" xlink:href="ello-20231231.xsd#ello_LinkageValueOfLoansAndBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LinkageValueOfLoansAndBorrowings_lbl" xml:lang="en-US">Linkage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LinkageValueOfLoansAndBorrowings" xlink:to="ello_LinkageValueOfLoansAndBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_BorrowingsTransactionCosts" xlink:href="ello-20231231.xsd#ello_BorrowingsTransactionCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_BorrowingsTransactionCosts_lbl" xml:lang="en-US">Transaction costs related to borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BorrowingsTransactionCosts" xlink:to="ello_BorrowingsTransactionCosts_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_BorrowingsTransactionCosts_lbl0" xml:lang="en-US">Transaction cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BorrowingsTransactionCosts" xlink:to="ello_BorrowingsTransactionCosts_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_TransferToDisposalGroupsHeldForSaleinDollars" xlink:href="ello-20231231.xsd#ello_TransferToDisposalGroupsHeldForSaleinDollars"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TransferToDisposalGroupsHeldForSaleinDollars_lbl" xml:lang="en-US">Transfer to disposal groups held for sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransferToDisposalGroupsHeldForSaleinDollars" xlink:to="ello_TransferToDisposalGroupsHeldForSaleinDollars_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CashFlowsFromUsedInFinancingActivities1" xlink:href="ello-20231231.xsd#ello_CashFlowsFromUsedInFinancingActivities1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CashFlowsFromUsedInFinancingActivities1_lbl" xml:lang="en-US">Total net financing liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CashFlowsFromUsedInFinancingActivities1" xlink:to="ello_CashFlowsFromUsedInFinancingActivities1_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract32" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract32"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract32_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract32" xlink:to="ello_UnlabeledAbstract32_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EffectOfChangesInForeignExchangeRates" xlink:href="ello-20231231.xsd#ello_EffectOfChangesInForeignExchangeRates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EffectOfChangesInForeignExchangeRates_lbl" xml:lang="en-US">Effect of changes in foreign exchange rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EffectOfChangesInForeignExchangeRates" xlink:to="ello_EffectOfChangesInForeignExchangeRates_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ChangesFromFinancingActivitiesAbstract0" xlink:href="ello-20231231.xsd#ello_ChangesFromFinancingActivitiesAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ChangesFromFinancingActivitiesAbstract0_lbl" xml:lang="en-US">Changes from financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ChangesFromFinancingActivitiesAbstract0" xlink:to="ello_ChangesFromFinancingActivitiesAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract33" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract33"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract33_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract33" xlink:to="ello_UnlabeledAbstract33_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDebtSecuritiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfDebtSecuritiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfDebtSecuritiesExplanatory_lbl" xml:lang="en-US">Debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDebtSecuritiesExplanatory" xlink:to="ifrs-full_DisclosureOfDebtSecuritiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutDebenturesExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutDebenturesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutDebenturesExplanatory_lbl" xml:lang="en-US">Schedule of Debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutDebenturesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutDebenturesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NotesAndDebenturesIssued" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NotesAndDebenturesIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NotesAndDebenturesIssued_lbl" xml:lang="en-US">Debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotesAndDebenturesIssued" xlink:to="ifrs-full_NotesAndDebenturesIssued_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NotesAndDebenturesIssued_lbl0" xml:lang="en-US">Aggregate princiipal amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotesAndDebenturesIssued" xlink:to="ifrs-full_NotesAndDebenturesIssued_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_NotesAndDebenturesIssued_lbl1" xml:lang="en-US">Debentures amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotesAndDebenturesIssued" xlink:to="ifrs-full_NotesAndDebenturesIssued_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures_lbl" xml:lang="en-US">Schedule of Aggregate Annual Maturities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures" xlink:to="ello_DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LongtermBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LongtermBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LongtermBorrowings_lbl" xml:lang="en-US">Long-term debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LongtermBorrowings" xlink:to="ifrs-full_LongtermBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract34" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract34"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract34_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract34" xlink:to="ello_UnlabeledAbstract34_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory_lbl" xml:lang="en-US">Other Long-term Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutOtherLongTermLiabilitiesExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutOtherLongTermLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutOtherLongTermLiabilitiesExplanatory_lbl" xml:lang="en-US">Schedule of Other Long-Term Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutOtherLongTermLiabilitiesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutOtherLongTermLiabilitiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WarrantLiability" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_WarrantLiability"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WarrantLiability_lbl" xml:lang="en-US">Warrants Liability (see Note 16)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WarrantLiability" xlink:to="ifrs-full_WarrantLiability_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherLiabilities_lbl" xml:lang="en-US">Other liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherLiabilities" xlink:to="ifrs-full_OtherLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentProvisionsForEmployeeBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl" xml:lang="en-US">Liabilities for employee&#8217;s benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:to="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfLeasesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfLeasesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfLeasesExplanatory_lbl" xml:lang="en-US">Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfLeasesExplanatory" xlink:to="ifrs-full_DisclosureOfLeasesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory_lbl" xml:lang="en-US">Schedule of Right-of-use Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LeaseAgreementsRightOfUseAssets" xlink:href="ello-20231231.xsd#ello_LeaseAgreementsRightOfUseAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LeaseAgreementsRightOfUseAssets_lbl" xml:lang="en-US">Lease agreements entered into during the period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LeaseAgreementsRightOfUseAssets" xlink:to="ello_LeaseAgreementsRightOfUseAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OtherRightOfUseAssets" xlink:href="ello-20231231.xsd#ello_OtherRightOfUseAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OtherRightOfUseAssets_lbl" xml:lang="en-US">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherRightOfUseAssets" xlink:to="ello_OtherRightOfUseAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EffectOfChangesInExchangeRatesToRightOfUseAssets" xlink:href="ello-20231231.xsd#ello_EffectOfChangesInExchangeRatesToRightOfUseAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EffectOfChangesInExchangeRatesToRightOfUseAssets_lbl" xml:lang="en-US">Effect of changes in exchange rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EffectOfChangesInExchangeRatesToRightOfUseAssets" xlink:to="ello_EffectOfChangesInExchangeRatesToRightOfUseAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory_lbl" xml:lang="en-US">Schedule of Maturity Analysis of Company&apos;s Lease Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory" xlink:to="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LeaseLiabilities_lbl" xml:lang="en-US">Lease Liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseLiabilities" xlink:to="ifrs-full_LeaseLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LeaseLiabilities_lbl0" xml:lang="en-US">Lease liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseLiabilities" xlink:to="ifrs-full_LeaseLiabilities_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory_lbl" xml:lang="en-US">Schedule of Amounts Recognized in Profit or Loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory" xlink:to="ifrs-full_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DepreciationRightofuseAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DepreciationRightofuseAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepreciationRightofuseAssets_lbl" xml:lang="en-US">Depreciation on right-of-use asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationRightofuseAssets" xlink:to="ifrs-full_DepreciationRightofuseAssets_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DepreciationRightofuseAssets_lbl0" xml:lang="en-US">Depreciation from right-of-use assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationRightofuseAssets" xlink:to="ifrs-full_DepreciationRightofuseAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DepreciationRightofuseAssets_lbl1" xml:lang="en-US">Depreciation for the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationRightofuseAssets" xlink:to="ifrs-full_DepreciationRightofuseAssets_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestExpenseOnLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestExpenseOnLeaseLiabilities_lbl" xml:lang="en-US">Interest expenses on lease liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:to="ifrs-full_InterestExpenseOnLeaseLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_InterestExpenseOnLeaseLiabilities_lbl0" xml:lang="en-US">Interest on lease liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:to="ifrs-full_InterestExpenseOnLeaseLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_InterestExpenseOnLeaseLiabilities_lbl1" xml:lang="en-US">Interest expenses on lease liability (in New Shekels)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:to="ifrs-full_InterestExpenseOnLeaseLiabilities_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfRelatedPartyExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory_lbl" xml:lang="en-US">Transactions and Balances with Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:to="ifrs-full_DisclosureOfRelatedPartyExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfAmountsIncurredByEntityForProvisionOfKeyManagementPersonnelServicesProvidedBySeparateManagementEntitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfAmountsIncurredByEntityForProvisionOfKeyManagementPersonnelServicesProvidedBySeparateManagementEntitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfAmountsIncurredByEntityForProvisionOfKeyManagementPersonnelServicesProvidedBySeparateManagementEntitiesExplanatory_lbl" xml:lang="en-US">Schedule of Key Management Personnel and Interested Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfAmountsIncurredByEntityForProvisionOfKeyManagementPersonnelServicesProvidedBySeparateManagementEntitiesExplanatory" xlink:to="ifrs-full_DisclosureOfAmountsIncurredByEntityForProvisionOfKeyManagementPersonnelServicesProvidedBySeparateManagementEntitiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NumberOfEmployeesForShortEmployeeBenefits" xlink:href="ello-20231231.xsd#ello_NumberOfEmployeesForShortEmployeeBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NumberOfEmployeesForShortEmployeeBenefits_lbl" xml:lang="en-US">Short-term Benefits, Number of People</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfEmployeesForShortEmployeeBenefits" xlink:to="ello_NumberOfEmployeesForShortEmployeeBenefits_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl" xml:lang="en-US">Short-term Benefits, Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:to="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NumberOfEmployeesForPostEmploymentBenefits" xlink:href="ello-20231231.xsd#ello_NumberOfEmployeesForPostEmploymentBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NumberOfEmployeesForPostEmploymentBenefits_lbl" xml:lang="en-US">Post-employment Benefits,Number of People</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfEmployeesForPostEmploymentBenefits" xlink:to="ello_NumberOfEmployeesForPostEmploymentBenefits_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl" xml:lang="en-US">Post-employment Benefits, Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:to="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NumberOfEmployeesForShareBasedPayments" xlink:href="ello-20231231.xsd#ello_NumberOfEmployeesForShareBasedPayments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NumberOfEmployeesForShareBasedPayments_lbl" xml:lang="en-US">Share-based payments, Number of People</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfEmployeesForShareBasedPayments" xlink:to="ello_NumberOfEmployeesForShareBasedPayments_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_NumberOfEmployeesForShareBasedPayments_lbl0" xml:lang="en-US">Share-based payments, Number of people</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfEmployeesForShareBasedPayments" xlink:to="ello_NumberOfEmployeesForShareBasedPayments_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl" xml:lang="en-US">Share-based payments, Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:to="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory_lbl" xml:lang="en-US">Schedule of Compensation to Directors</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NumberOfPeopleForCompensationNotEmployed" xlink:href="ello-20231231.xsd#ello_NumberOfPeopleForCompensationNotEmployed"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NumberOfPeopleForCompensationNotEmployed_lbl" xml:lang="en-US">Total compensation to directors not employed by the Company, Number of people</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfPeopleForCompensationNotEmployed" xlink:to="ello_NumberOfPeopleForCompensationNotEmployed_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_KeyManagementPersonnelCompensation" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_KeyManagementPersonnelCompensation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensation_lbl" xml:lang="en-US">Total compensation to directors not employed by the Company, Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensation" xlink:to="ifrs-full_KeyManagementPersonnelCompensation_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory_lbl" xml:lang="en-US">Schedule of Debts and Loans to Related and Interested Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BorrowingsInterestRate" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BorrowingsInterestRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BorrowingsInterestRate_lbl" xml:lang="en-US">Annual interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRate" xlink:to="ifrs-full_BorrowingsInterestRate_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BorrowingsInterestRate_lbl0" xml:lang="en-US">Floating interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRate" xlink:to="ifrs-full_BorrowingsInterestRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_BorrowingsInterestRate_lbl1" xml:lang="en-US">Fixed interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRate" xlink:to="ifrs-full_BorrowingsInterestRate_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AmountsReceivableRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions_lbl" xml:lang="en-US">Debts and loans to related and intrested parites</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:to="ifrs-full_AmountsReceivableRelatedPartyTransactions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestIncomeOnLoansAndReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestIncomeOnLoansAndReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestIncomeOnLoansAndReceivables_lbl" xml:lang="en-US">Interest income recognized in statement of income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestIncomeOnLoansAndReceivables" xlink:to="ifrs-full_InterestIncomeOnLoansAndReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_lbl" xml:lang="en-US">Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:to="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory_lbl" xml:lang="en-US">Schedule of Composition of Share Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:to="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfSharesAuthorised" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NumberOfSharesAuthorised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfSharesAuthorised_lbl" xml:lang="en-US">Ordinary shares of NIS 10.00 par value, Authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesAuthorised" xlink:to="ifrs-full_NumberOfSharesAuthorised_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfSharesOutstanding" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NumberOfSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xml:lang="en-US">Ordinary shares of NIS 10.00 par value, Issued and Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_lbl" xml:lang="en-US">Share-Based Payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:to="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfExpensesRecognizedInFinancialStatementsExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfExpensesRecognizedInFinancialStatementsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfExpensesRecognizedInFinancialStatementsExplanatory_lbl" xml:lang="en-US">Schedule of Expenses Recognized in Financial Statements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfExpensesRecognizedInFinancialStatementsExplanatory" xlink:to="ello_DisclosureOfExpensesRecognizedInFinancialStatementsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ThousandAbstract" xlink:href="ello-20231231.xsd#ello_ThousandAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ThousandAbstract_lbl" xml:lang="en-US">&#8364; thousand</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ThousandAbstract" xlink:to="ello_ThousandAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_lbl" xml:lang="en-US">Expenses arising from share-based payment transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:to="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfBlackScholesOptionsPricingModelTextBlock" xlink:href="ello-20231231.xsd#ello_DisclosureOfBlackScholesOptionsPricingModelTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfBlackScholesOptionsPricingModelTextBlock_lbl" xml:lang="en-US">Schedule of Black-Scholes Options Pricing Model</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfBlackScholesOptionsPricingModelTextBlock" xlink:to="ello_DisclosureOfBlackScholesOptionsPricingModelTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl" xml:lang="en-US">Dividend yield</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:to="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl" xml:lang="en-US">Expected volatility</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl" xml:lang="en-US">Risk-free interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfOptionLifeShareOptionsGranted" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfOptionLifeShareOptionsGranted"/>
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    <loc xlink:type="locator" xlink:label="ello_UsAbstract" xlink:href="ello-20231231.xsd#ello_UsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UsAbstract_lbl" xml:lang="en-US">US$</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" xlink:to="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl" xml:lang="en-US">Granted during the year, Number of options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl0"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_lbl" xml:lang="en-US">Exercised during the year, Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_lbl" xml:lang="en-US">Expired during the year, Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract36" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract36"/>
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    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl" xml:lang="en-US">Exercisable at end of year, Number of options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfDetailsOfStatementsOfProfitOrLossAndOtherComprehensiveIncomeLossExplanatory" xlink:href="ello-20231231.xsd#ello_DisclosureOfDetailsOfStatementsOfProfitOrLossAndOtherComprehensiveIncomeLossExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfDetailsOfStatementsOfProfitOrLossAndOtherComprehensiveIncomeLossExplanatory_lbl" xml:lang="en-US">Details of the Statements of Profit or Loss and Other Comprehensive Income (Loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailsOfStatementsOfProfitOrLossAndOtherComprehensiveIncomeLossExplanatory" xlink:to="ello_DisclosureOfDetailsOfStatementsOfProfitOrLossAndOtherComprehensiveIncomeLossExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfRevenueExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfRevenueExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfRevenueExplanatory_lbl" xml:lang="en-US">Schedule of Revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRevenueExplanatory" xlink:to="ifrs-full_DisclosureOfRevenueExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RevenueFromSaleOfElectricity" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RevenueFromSaleOfElectricity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueFromSaleOfElectricity_lbl" xml:lang="en-US">Revenues from the sale of solar electricity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromSaleOfElectricity" xlink:to="ifrs-full_RevenueFromSaleOfElectricity_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RevenueFromSaleOfOilAndGasProducts" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RevenueFromSaleOfOilAndGasProducts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueFromSaleOfOilAndGasProducts_lbl" xml:lang="en-US">Revenues from the sale of gas and power produced by anaerobic digestion plants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromSaleOfOilAndGasProducts" xlink:to="ifrs-full_RevenueFromSaleOfOilAndGasProducts_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory_lbl" xml:lang="en-US">Schedule of Operating Costs, Depreciation and Amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DepreciationExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DepreciationExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepreciationExpense_lbl" xml:lang="en-US">Depreciation from fixed assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationExpense" xlink:to="ifrs-full_DepreciationExpense_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DepreciationExpense_lbl0" xml:lang="en-US">Depreciation expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationExpense" xlink:to="ifrs-full_DepreciationExpense_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProfessionalFeesExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProfessionalFeesExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfessionalFeesExpense_lbl" xml:lang="en-US">Professional services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfessionalFeesExpense" xlink:to="ifrs-full_ProfessionalFeesExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_MiscellaneousOtherOperatingExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_MiscellaneousOtherOperatingExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MiscellaneousOtherOperatingExpense_lbl" xml:lang="en-US">Operating and maintenance services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MiscellaneousOtherOperatingExpense" xlink:to="ifrs-full_MiscellaneousOtherOperatingExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SystemOperatorCharges" xlink:href="ello-20231231.xsd#ello_SystemOperatorCharges"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SystemOperatorCharges_lbl" xml:lang="en-US">System operator charges</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SystemOperatorCharges" xlink:to="ello_SystemOperatorCharges_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InsuranceExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InsuranceExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InsuranceExpense_lbl" xml:lang="en-US">Insurance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InsuranceExpense" xlink:to="ifrs-full_InsuranceExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherExpenseByNature" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherExpenseByNature"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherExpenseByNature_lbl" xml:lang="en-US">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherExpenseByNature" xlink:to="ifrs-full_OtherExpenseByNature_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory_lbl" xml:lang="en-US">Schedule of General and Administrative Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WagesAndSalaries" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_WagesAndSalaries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WagesAndSalaries_lbl" xml:lang="en-US">Salaries and related compensation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WagesAndSalaries" xlink:to="ifrs-full_WagesAndSalaries_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ProfessionalServicesGeneralAndAdministrativeExpenses" xlink:href="ello-20231231.xsd#ello_ProfessionalServicesGeneralAndAdministrativeExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ProfessionalServicesGeneralAndAdministrativeExpenses_lbl" xml:lang="en-US">Professional services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProfessionalServicesGeneralAndAdministrativeExpenses" xlink:to="ello_ProfessionalServicesGeneralAndAdministrativeExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OtherGeneralAndAdministrativeExpenses" xlink:href="ello-20231231.xsd#ello_OtherGeneralAndAdministrativeExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OtherGeneralAndAdministrativeExpenses_lbl" xml:lang="en-US">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherGeneralAndAdministrativeExpenses" xlink:to="ello_OtherGeneralAndAdministrativeExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfFinanceIncomeExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExplanatory_lbl" xml:lang="en-US">Schedule of Financing Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinanceIncomeExplanatory" xlink:to="ifrs-full_DisclosureOfFinanceIncomeExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RevenueFromInterest" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RevenueFromInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueFromInterest_lbl" xml:lang="en-US">Interest income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromInterest" xlink:to="ifrs-full_RevenueFromInterest_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetForeignExchangeGain_lbl" xml:lang="en-US">Gain from exchange rate differences, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetForeignExchangeGain" xlink:to="ifrs-full_NetForeignExchangeGain_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFinanceCostExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfFinanceCostExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfFinanceCostExplanatory_lbl" xml:lang="en-US">Schedule of Financing Expenses</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_FinancingExpensesInConnectionWithDerivativesNet_lbl" xml:lang="en-US">Change in fair value of derivatives, net</label>
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    <loc xlink:type="locator" xlink:label="ifrs-full_InterestExpenseOnDebtInstrumentsIssued" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestExpenseOnDebtInstrumentsIssued"/>
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    <loc xlink:type="locator" xlink:label="ello_InterestAndCommissionsRelatedToProjectsFinance" xlink:href="ello-20231231.xsd#ello_InterestAndCommissionsRelatedToProjectsFinance"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_InterestAndCommissionsRelatedToProjectsFinance_lbl" xml:lang="en-US">Interest and commissions related to projects finance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestAndCommissionsRelatedToProjectsFinance" xlink:to="ello_InterestAndCommissionsRelatedToProjectsFinance_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AmortizationOfCapitalizedExpensesRelatedToProjectsFinance" xlink:href="ello-20231231.xsd#ello_AmortizationOfCapitalizedExpensesRelatedToProjectsFinance"/>
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    <loc xlink:type="locator" xlink:label="ifrs-full_InterestExpenseOnBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestExpenseOnBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestExpenseOnBorrowings_lbl" xml:lang="en-US">Interest on minority shareholder loan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseOnBorrowings" xlink:to="ifrs-full_InterestExpenseOnBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BankAndSimilarCharges" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BankAndSimilarCharges"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BankAndSimilarCharges_lbl" xml:lang="en-US">Bank charges and other commissions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BankAndSimilarCharges" xlink:to="ifrs-full_BankAndSimilarCharges_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NetForeignExchangeLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NetForeignExchangeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetForeignExchangeLoss_lbl" xml:lang="en-US">Loss from exchange rate differences, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetForeignExchangeLoss" xlink:to="ifrs-full_NetForeignExchangeLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfIncomeTaxExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory_lbl" xml:lang="en-US">Taxes on Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:to="ifrs-full_DisclosureOfIncomeTaxExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock" xlink:href="ello-20231231.xsd#ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock_lbl" xml:lang="en-US">Schedule of Composition of Income Tax Benefit (Taxes on Income)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock" xlink:to="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrentTaxExpenseAbstract" xlink:href="ello-20231231.xsd#ello_CurrentTaxExpenseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CurrentTaxExpenseAbstract_lbl" xml:lang="en-US">Current tax expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentTaxExpenseAbstract" xlink:to="ello_CurrentTaxExpenseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods_lbl" xml:lang="en-US">Current tax expense, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" xlink:to="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DeferredTaxIncomeAbstract" xlink:href="ello-20231231.xsd#ello_DeferredTaxIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DeferredTaxIncomeAbstract_lbl" xml:lang="en-US">Deferred tax income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DeferredTaxIncomeAbstract" xlink:to="ello_DeferredTaxIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences_lbl" xml:lang="en-US">Creation and reversal of temporary differences</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForDeferredTaxOfPriorPeriods" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForDeferredTaxOfPriorPeriods"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForDeferredTaxOfPriorPeriods_lbl" xml:lang="en-US">Adjustments for prior years, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDeferredTaxOfPriorPeriods" xlink:to="ifrs-full_AdjustmentsForDeferredTaxOfPriorPeriods_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForDeferredTaxExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AdjustmentsForDeferredTaxExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_AdjustmentsForDeferredTaxExpense_lbl" xml:lang="en-US">Deferred tax income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDeferredTaxExpense" xlink:to="ifrs-full_AdjustmentsForDeferredTaxExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract37" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract37"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract37_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract37" xlink:to="ello_UnlabeledAbstract37_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock" xlink:href="ello-20231231.xsd#ello_DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock_lbl" xml:lang="en-US">Schedule of Theoretical Tax on the Pre-Tax Profit and the Tax Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock" xlink:to="ello_DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ProfitlossBeforeTaxesOnIncome" xlink:href="ello-20231231.xsd#ello_ProfitlossBeforeTaxesOnIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ProfitlossBeforeTaxesOnIncome_lbl" xml:lang="en-US">Profit (loss) before taxes on income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProfitlossBeforeTaxesOnIncome" xlink:to="ello_ProfitlossBeforeTaxesOnIncome_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ApplicableTaxRate" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ApplicableTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xml:lang="en-US">Primary tax rate of the Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ApplicableTaxRate" xlink:to="ifrs-full_ApplicableTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract38" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract38"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract38_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract38" xlink:to="ello_UnlabeledAbstract38_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AdditionalTaxSavingInRespectOfAbstract" xlink:href="ello-20231231.xsd#ello_AdditionalTaxSavingInRespectOfAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AdditionalTaxSavingInRespectOfAbstract_lbl" xml:lang="en-US">Additional tax saving in respect of:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdditionalTaxSavingInRespectOfAbstract" xlink:to="ello_AdditionalTaxSavingInRespectOfAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees" xlink:href="ello-20231231.xsd#ello_NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees" xlink:to="ello_NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes" xlink:href="ello-20231231.xsd#ello_DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes" xlink:to="ello_DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast" xlink:href="ello-20231231.xsd#ello_CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast" xlink:to="ello_CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes_lbl" xml:lang="en-US">Utilization of tax losses and benefits from prior years for which deferred taxes were not created</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ChangeInTemporaryTaxDifferences" xlink:href="ello-20231231.xsd#ello_ChangeInTemporaryTaxDifferences"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ChangeInTemporaryTaxDifferences_lbl" xml:lang="en-US">Change in temporary differences for which deferred tax were not recognized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ChangeInTemporaryTaxDifferences" xlink:to="ello_ChangeInTemporaryTaxDifferences_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers" xlink:href="ello-20231231.xsd#ello_CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers_lbl" xml:lang="en-US">Current year tax losses and benefits for which deferred taxes were not created</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers" xlink:to="ello_CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TaxesInRespectToPreviousYearsAndOthers" xlink:href="ello-20231231.xsd#ello_TaxesInRespectToPreviousYearsAndOthers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TaxesInRespectToPreviousYearsAndOthers_lbl" xml:lang="en-US">Permanent differences</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TaxesInRespectToPreviousYearsAndOthers" xlink:to="ello_TaxesInRespectToPreviousYearsAndOthers_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory_lbl" xml:lang="en-US">Schedule of Deferred Taxes</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DerivativesPresentedUnderCurrentAssetsAbstract" xlink:to="ello_DerivativesPresentedUnderCurrentAssetsAbstract_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DerivativesPresentedUnderNonCurrentAssetsAbstract" xlink:to="ello_DerivativesPresentedUnderNonCurrentAssetsAbstract_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DerivativesPresentedUnderCurrentLiabilitiesAbstract" xlink:to="ello_DerivativesPresentedUnderCurrentLiabilitiesAbstract_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfCurrencyLinkageReceivable" xlink:to="ello_DescriptionOfCurrencyLinkageReceivable_lbl"/>
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    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xlink:to="ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_interestswapTransaction" xlink:href="ello-20231231.xsd#ello_interestswapTransaction"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_interestswapTransaction_lbl" xml:lang="en-US">Interest swap transaction period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_interestswapTransaction" xlink:to="ello_interestswapTransaction_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_InterestSwapTransactionPeriod" xlink:href="ello-20231231.xsd#ello_InterestSwapTransactionPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_InterestSwapTransactionPeriod_lbl" xml:lang="en-US">Euro interest swap transaction for a period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestSwapTransactionPeriod" xlink:to="ello_InterestSwapTransactionPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_MaturityAnalysisForDerivativeFinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_MaturityAnalysisForDerivativeFinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MaturityAnalysisForDerivativeFinancialLiabilities_lbl" xml:lang="en-US">Schedule of Contractual Maturities of Financial Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaturityAnalysisForDerivativeFinancialLiabilities" xlink:to="ifrs-full_MaturityAnalysisForDerivativeFinancialLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NonDerivativeFinancialLiabilitiesAbstract" xlink:href="ello-20231231.xsd#ello_NonDerivativeFinancialLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NonDerivativeFinancialLiabilitiesAbstract_lbl" xml:lang="en-US">Non-derivative financial liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonDerivativeFinancialLiabilitiesAbstract" xlink:to="ello_NonDerivativeFinancialLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract53" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract53"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract53_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract53" xlink:to="ello_UnlabeledAbstract53_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BankBorrowingsUndiscountedCashFlows" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BankBorrowingsUndiscountedCashFlows"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BankBorrowingsUndiscountedCashFlows_lbl" xml:lang="en-US">Long-term loans, including current maturities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BankBorrowingsUndiscountedCashFlows" xlink:to="ifrs-full_BankBorrowingsUndiscountedCashFlows_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BankBorrowingsUndiscountedCashFlows_lbl0" xml:lang="en-US">Carrying amount, Loans from banks and others (including current maturities)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BankBorrowingsUndiscountedCashFlows" xlink:to="ifrs-full_BankBorrowingsUndiscountedCashFlows_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract54" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract54"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract54_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract54" xlink:to="ello_UnlabeledAbstract54_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BondsIssuedUndiscountedCashFlows" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BondsIssuedUndiscountedCashFlows"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BondsIssuedUndiscountedCashFlows_lbl" xml:lang="en-US">Debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BondsIssuedUndiscountedCashFlows" xlink:to="ifrs-full_BondsIssuedUndiscountedCashFlows_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BondsIssuedUndiscountedCashFlows_lbl0" xml:lang="en-US">Carrying amount, Debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BondsIssuedUndiscountedCashFlows" xlink:to="ifrs-full_BondsIssuedUndiscountedCashFlows_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract55" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract55"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract55_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract55" xlink:to="ello_UnlabeledAbstract55_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GrossLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GrossLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GrossLeaseLiabilities_lbl" xml:lang="en-US">Lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossLeaseLiabilities" xlink:to="ifrs-full_GrossLeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract56" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract56"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract56_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract56" xlink:to="ello_UnlabeledAbstract56_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows_lbl" xml:lang="en-US">Trade payables, other accounts payable and Other long-term liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows" xlink:to="ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NonDerivativeFinancialLiabilitiesAbstract0" xlink:href="ello-20231231.xsd#ello_NonDerivativeFinancialLiabilitiesAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NonDerivativeFinancialLiabilitiesAbstract0_lbl" xml:lang="en-US">Non-derivative financial liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonDerivativeFinancialLiabilitiesAbstract0" xlink:to="ello_NonDerivativeFinancialLiabilitiesAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract57" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract57"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract57_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract57" xlink:to="ello_UnlabeledAbstract57_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract58" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract58"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract58_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract58" xlink:to="ello_UnlabeledAbstract58_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract59" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract59"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract59_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract59" xlink:to="ello_UnlabeledAbstract59_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract60" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract60"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract60_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract60" xlink:to="ello_UnlabeledAbstract60_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract61" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract61"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract61_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract61" xlink:to="ello_UnlabeledAbstract61_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DerivativeFinanceLiabilitiesAbstract" xlink:href="ello-20231231.xsd#ello_DerivativeFinanceLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DerivativeFinanceLiabilitiesAbstract_lbl" xml:lang="en-US">Derivative finance liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DerivativeFinanceLiabilitiesAbstract" xlink:to="ello_DerivativeFinanceLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract62" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract62"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract62_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract62" xlink:to="ello_UnlabeledAbstract62_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_FinancialPowerSwap" xlink:href="ello-20231231.xsd#ello_FinancialPowerSwap"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_FinancialPowerSwap_lbl" xml:lang="en-US">Financial power swap</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancialPowerSwap" xlink:to="ello_FinancialPowerSwap_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfCompanysExposureToLinkageAndForeignCurrencyRiskTableTextBlock" xlink:href="ello-20231231.xsd#ello_ScheduleOfCompanysExposureToLinkageAndForeignCurrencyRiskTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ScheduleOfCompanysExposureToLinkageAndForeignCurrencyRiskTableTextBlock_lbl" xml:lang="en-US">Schedule of Company&apos;s Exposure to Linkage and Foreign Currency Risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfCompanysExposureToLinkageAndForeignCurrencyRiskTableTextBlock" xlink:to="ello_ScheduleOfCompanysExposureToLinkageAndForeignCurrencyRiskTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_IntangibleAssetFromGreenCertificates" xlink:href="ello-20231231.xsd#ello_IntangibleAssetFromGreenCertificates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_IntangibleAssetFromGreenCertificates_lbl" xml:lang="en-US">Intangible asset from green certificates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IntangibleAssetFromGreenCertificates" xlink:to="ello_IntangibleAssetFromGreenCertificates_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentReceivablesDueFromAssociates" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentReceivablesDueFromAssociates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentReceivablesDueFromAssociates_lbl" xml:lang="en-US">Trade and other receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentReceivablesDueFromAssociates" xlink:to="ifrs-full_CurrentReceivablesDueFromAssociates_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale" xlink:href="ello-20231231.xsd#ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale_lbl" xml:lang="en-US">Assets of disposal groups classified as held for sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale" xlink:to="ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NonCurrentAssetsAbstract" xlink:href="ello-20231231.xsd#ello_NonCurrentAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NonCurrentAssetsAbstract_lbl" xml:lang="en-US">Non-current assets:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonCurrentAssetsAbstract" xlink:to="ello_NonCurrentAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentFinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentFinancialAssets_lbl" xml:lang="en-US">Fixed assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentFinancialAssets" xlink:to="ifrs-full_NoncurrentFinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherCashAndCashEquivalents_lbl" xml:lang="en-US">Restricted cash and deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCashAndCashEquivalents" xlink:to="ifrs-full_OtherCashAndCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrentMaturitiesOfLongtermLoans" xlink:href="ello-20231231.xsd#ello_CurrentMaturitiesOfLongtermLoans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CurrentMaturitiesOfLongtermLoans_lbl" xml:lang="en-US">Current maturities of long-term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentMaturitiesOfLongtermLoans" xlink:to="ello_CurrentMaturitiesOfLongtermLoans_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale" xlink:href="ello-20231231.xsd#ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale_lbl" xml:lang="en-US">Liabilities of disposal groups classified as held for sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale" xlink:to="ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NonCurrentLiabilitiesAbstract" xlink:href="ello-20231231.xsd#ello_NonCurrentLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NonCurrentLiabilitiesAbstract_lbl" xml:lang="en-US">Non-current liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonCurrentLiabilitiesAbstract" xlink:to="ello_NonCurrentLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BankAcceptanceLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BankAcceptanceLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BankAcceptanceLiabilities_lbl" xml:lang="en-US">Long-term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BankAcceptanceLiabilities" xlink:to="ifrs-full_BankAcceptanceLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrentAssetsAbstract0" xlink:href="ello-20231231.xsd#ello_CurrentAssetsAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CurrentAssetsAbstract0_lbl" xml:lang="en-US">Current assets:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentAssetsAbstract0" xlink:to="ello_CurrentAssetsAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ReceivableFromConcessionProjectCurrentAssets" xlink:href="ello-20231231.xsd#ello_ReceivableFromConcessionProjectCurrentAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ReceivableFromConcessionProjectCurrentAssets_lbl" xml:lang="en-US">Receivable from concession project</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReceivableFromConcessionProjectCurrentAssets" xlink:to="ello_ReceivableFromConcessionProjectCurrentAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NonCurrentAssetsAbstract0" xlink:href="ello-20231231.xsd#ello_NonCurrentAssetsAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NonCurrentAssetsAbstract0_lbl" xml:lang="en-US">Non-current assets:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonCurrentAssetsAbstract0" xlink:to="ello_NonCurrentAssetsAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ReceivableFromConcessionProjectNonCurrentAssets" xlink:href="ello-20231231.xsd#ello_ReceivableFromConcessionProjectNonCurrentAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ReceivableFromConcessionProjectNonCurrentAssets_lbl" xml:lang="en-US">Receivable from concession project</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReceivableFromConcessionProjectNonCurrentAssets" xlink:to="ello_ReceivableFromConcessionProjectNonCurrentAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrentLiabilitiesAbstract0" xlink:href="ello-20231231.xsd#ello_CurrentLiabilitiesAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CurrentLiabilitiesAbstract0_lbl" xml:lang="en-US">Current liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentLiabilitiesAbstract0" xlink:to="ello_CurrentLiabilitiesAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NonCurrentLiabilitiesAbstract0" xlink:href="ello-20231231.xsd#ello_NonCurrentLiabilitiesAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NonCurrentLiabilitiesAbstract0_lbl" xml:lang="en-US">Non-current liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonCurrentLiabilitiesAbstract0" xlink:to="ello_NonCurrentLiabilitiesAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory_lbl" xml:lang="en-US">Schedule of Significant Exchange Rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory" xlink:to="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfChangeInForeignCurrency" xlink:href="ello-20231231.xsd#ello_PercentageOfChangeInForeignCurrency"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfChangeInForeignCurrency_lbl" xml:lang="en-US">Rate of Change</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfChangeInForeignCurrency" xlink:to="ello_PercentageOfChangeInForeignCurrency_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClosingForeignExchangeRate" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ClosingForeignExchangeRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClosingForeignExchangeRate_lbl" xml:lang="en-US">Exchange rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClosingForeignExchangeRate" xlink:to="ifrs-full_ClosingForeignExchangeRate_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ClosingForeignExchangeRate_lbl0" xml:lang="en-US">Rate of exchange</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClosingForeignExchangeRate" xlink:to="ifrs-full_ClosingForeignExchangeRate_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock" xlink:href="ello-20231231.xsd#ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock_lbl" xml:lang="en-US">Schedule of Sensitivity Analysis of Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock" xlink:to="ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ChangeInTheExchangeRateOfAbstract" xlink:href="ello-20231231.xsd#ello_ChangeInTheExchangeRateOfAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ChangeInTheExchangeRateOfAbstract_lbl" xml:lang="en-US">Change in the exchange rate of:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ChangeInTheExchangeRateOfAbstract" xlink:to="ello_ChangeInTheExchangeRateOfAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ChangeInExchangeRateOfIncreaseDecreaseOfEquity" xlink:href="ello-20231231.xsd#ello_ChangeInExchangeRateOfIncreaseDecreaseOfEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ChangeInExchangeRateOfIncreaseDecreaseOfEquity_lbl" xml:lang="en-US">Change in the exchange rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ChangeInExchangeRateOfIncreaseDecreaseOfEquity" xlink:to="ello_ChangeInExchangeRateOfIncreaseDecreaseOfEquity_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ChangeInTheExchangeRateOfAbstract0" xlink:href="ello-20231231.xsd#ello_ChangeInTheExchangeRateOfAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ChangeInTheExchangeRateOfAbstract0_lbl" xml:lang="en-US">Change in the exchange rate of:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ChangeInTheExchangeRateOfAbstract0" xlink:to="ello_ChangeInTheExchangeRateOfAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfChangeInInterestRateProfitLossTableTextBlock" xlink:href="ello-20231231.xsd#ello_ScheduleOfChangeInInterestRateProfitLossTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ScheduleOfChangeInInterestRateProfitLossTableTextBlock_lbl" xml:lang="en-US">Schedule of Change in Interest Rate Profit (Loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfChangeInInterestRateProfitLossTableTextBlock" xlink:to="ello_ScheduleOfChangeInInterestRateProfitLossTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_IncreaseddecreasedProfitOrLoss" xlink:href="ello-20231231.xsd#ello_IncreaseddecreasedProfitOrLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_IncreaseddecreasedProfitOrLoss_lbl" xml:lang="en-US">Increased (decreased) profit or loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseddecreasedProfitOrLoss" xlink:to="ello_IncreaseddecreasedProfitOrLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesTableTextBlock" xlink:href="ello-20231231.xsd#ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesTableTextBlock_lbl" xml:lang="en-US">Schedule of Fair Values of the Other Financial Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesTableTextBlock" xlink:to="ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NonCurrentLiabilitiesAbstract1" xlink:href="ello-20231231.xsd#ello_NonCurrentLiabilitiesAbstract1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NonCurrentLiabilitiesAbstract1_lbl" xml:lang="en-US">Non-current liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonCurrentLiabilitiesAbstract1" xlink:to="ello_NonCurrentLiabilitiesAbstract1_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementLiabilities_lbl" xml:lang="en-US">Valuation techniques for determining fair value, Loans from banks and others (including current maturities)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementLiabilities" xlink:to="ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities_lbl" xml:lang="en-US">Inputs used to determine fair value, Loans from banks and others (including current maturities)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities" xlink:to="ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities_lbl0" xml:lang="en-US">Interest rates used to discount estimated cash flows</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities" xlink:to="ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_NonCurrentLiabilitiesAbstract2" xlink:href="ello-20231231.xsd#ello_NonCurrentLiabilitiesAbstract2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NonCurrentLiabilitiesAbstract2_lbl" xml:lang="en-US">Non-current liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonCurrentLiabilitiesAbstract2" xlink:to="ello_NonCurrentLiabilitiesAbstract2_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsTableTextBlock" xlink:href="ello-20231231.xsd#ello_ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsTableTextBlock_lbl" xml:lang="en-US">Schedule of Interest Rates Used to Discount Estimated Cash Flows</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsTableTextBlock" xlink:to="ello_ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NonCurrentLiabilitiesAbstract3" xlink:href="ello-20231231.xsd#ello_NonCurrentLiabilitiesAbstract3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NonCurrentLiabilitiesAbstract3_lbl" xml:lang="en-US">Non-current liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonCurrentLiabilitiesAbstract3" xlink:to="ello_NonCurrentLiabilitiesAbstract3_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfFairValuesHierarchyTableTextBlock" xlink:href="ello-20231231.xsd#ello_ScheduleOfFairValuesHierarchyTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ScheduleOfFairValuesHierarchyTableTextBlock_lbl" xml:lang="en-US">Schedule of Fair Values Hierarchy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfFairValuesHierarchyTableTextBlock" xlink:to="ello_ScheduleOfFairValuesHierarchyTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DerivativeFinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DerivativeFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DerivativeFinancialAssets_lbl" xml:lang="en-US">Fair values hierarchy value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DerivativeFinancialAssets" xlink:to="ifrs-full_DerivativeFinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets_lbl" xml:lang="en-US">Valuation techniques for determining fair value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets" xlink:to="ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock" xlink:href="ello-20231231.xsd#ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock_lbl" xml:lang="en-US">Schedule of Reconciliation Financial Instruments Carried at Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock" xlink:to="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract63" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract63"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract63_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract63" xlink:to="ello_UnlabeledAbstract63_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss_lbl" xml:lang="en-US">Total income recognized in profit or loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss" xlink:to="ifrs-full_GainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract64" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract64"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract64_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract64" xlink:to="ello_UnlabeledAbstract64_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsRecognisedInOtherComprehensiveIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsRecognisedInOtherComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsRecognisedInOtherComprehensiveIncome_lbl" xml:lang="en-US">Total income recognized in other comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsRecognisedInOtherComprehensiveIncome" xlink:to="ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsRecognisedInOtherComprehensiveIncome_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract65" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract65"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract65_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract65" xlink:to="ello_UnlabeledAbstract65_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract66" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract66"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract66_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract66" xlink:to="ello_UnlabeledAbstract66_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract67" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract67"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract67_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract67" xlink:to="ello_UnlabeledAbstract67_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract68" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract68"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract68_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract68" xlink:to="ello_UnlabeledAbstract68_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory_lbl" xml:lang="en-US">Operating Segments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:to="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfGeographicalAreasExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfGeographicalAreasExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfGeographicalAreasExplanatory_lbl" xml:lang="en-US">Schedule of Fixed Assets, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGeographicalAreasExplanatory" xlink:to="ifrs-full_DisclosureOfGeographicalAreasExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract69" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract69"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract69_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract69" xlink:to="ello_UnlabeledAbstract69_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss_lbl" xml:lang="en-US">Adjusted gross profit (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:to="ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss_lbl0" xml:lang="en-US">Loss on adjustment to fair value</label>
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    <loc xlink:type="locator" xlink:label="ifrs-full_OtherFinanceIncomeCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherFinanceIncomeCost"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_FixedAssetsNet_lbl" xml:lang="en-US">Total fixed assets, net</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinancialAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfFinancialAssetsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale"/>
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    <loc xlink:type="locator" xlink:label="ifrs-full_OtherReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherReceivables_lbl" xml:lang="en-US">Receivable from concession project</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReceivables" xlink:to="ifrs-full_OtherReceivables_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfDisposalGroupsClassifiedAsHeldForSaleTableTextBlock" xlink:to="ello_ScheduleOfDisposalGroupsClassifiedAsHeldForSaleTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TradeAndOtherPayablesToTradeSuppliers"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:to="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherPayables" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherPayables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherPayables_lbl" xml:lang="en-US">Other payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherPayables" xlink:to="ifrs-full_OtherPayables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived" xlink:to="ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived_lbl"/>
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    <loc xlink:type="locator" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract76" xlink:to="ello_UnlabeledAbstract76_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinanceIncomeCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FinanceIncomeCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinanceIncomeCost_lbl" xml:lang="en-US">Financing income, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncomeCost" xlink:to="ifrs-full_FinanceIncomeCost_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract77" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract77"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract77" xlink:to="ello_UnlabeledAbstract77_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract78" xlink:to="ello_UnlabeledAbstract78_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract79" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract79"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract79" xlink:to="ello_UnlabeledAbstract79_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars" xlink:href="ello-20231231.xsd#ello_ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars" xlink:to="ello_ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesOfDiscontinuedOperations" xlink:to="ifrs-full_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesOfDiscontinuedOperations_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract82" xlink:to="ello_UnlabeledAbstract82_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract83" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract83"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract83" xlink:to="ello_UnlabeledAbstract83_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CashFlowsFromDiscontinuedOperationAbstract" xlink:href="ello-20231231.xsd#ello_CashFlowsFromDiscontinuedOperationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CashFlowsFromDiscontinuedOperationAbstract_lbl" xml:lang="en-US">Cash flows from discontinued operation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CashFlowsFromDiscontinuedOperationAbstract" xlink:to="ello_CashFlowsFromDiscontinuedOperationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UnlabeledAbstract84" xlink:href="ello-20231231.xsd#ello_UnlabeledAbstract84"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UnlabeledAbstract84_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract84" xlink:to="ello_UnlabeledAbstract84_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations_lbl" xml:lang="en-US">Net cash from (used in) discontinued operation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl" xml:lang="en-US">Subsequent Events</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:to="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentInvestments" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_CurrentInvestments_lbl" xml:lang="en-US">Current maturities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentInvestments" xlink:to="ifrs-full_CurrentInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent_lbl" xml:lang="en-US">Dividend distribution</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" xlink:to="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OtherAdjustments" xlink:href="ello-20231231.xsd#ello_OtherAdjustments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_OtherAdjustments_lbl" xml:lang="en-US">Other adjustments, Ellomay Luzon Energy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherAdjustments" xlink:to="ello_OtherAdjustments_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisposalsPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DisposalsPropertyPlantAndEquipment_lbl" xml:lang="en-US">Transfer to disposal groups held for sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:to="ifrs-full_DisposalsPropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RepaymentOfDebentures" xlink:href="ello-20231231.xsd#ello_RepaymentOfDebentures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_RepaymentOfDebentures_lbl" xml:lang="en-US">Repayment of debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaymentOfDebentures" xlink:to="ello_RepaymentOfDebentures_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_lbl" xml:lang="en-US">Repayment of loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_IssuanceOfCapitalToNonControllingInterest" xlink:href="ello-20231231.xsd#ello_IssuanceOfCapitalToNonControllingInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_IssuanceOfCapitalToNonControllingInterest_lbl" xml:lang="en-US">Issuance of capital note to non-controlling interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IssuanceOfCapitalToNonControllingInterest" xlink:to="ello_IssuanceOfCapitalToNonControllingInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale_lbl" xml:lang="en-US">Transfer to disposal groups held for sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" xlink:to="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ExercisedDuringTheYearNumberOfOptions" xlink:href="ello-20231231.xsd#ello_ExercisedDuringTheYearNumberOfOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_ExercisedDuringTheYearNumberOfOptions_lbl" xml:lang="en-US">Exercised during the year, Number of options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ExercisedDuringTheYearNumberOfOptions" xlink:to="ello_ExercisedDuringTheYearNumberOfOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_lbl" xml:lang="en-US">Expired during the year, Number of options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentTaxExpenseIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentTaxExpenseIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_CurrentTaxExpenseIncome_lbl" xml:lang="en-US">Current year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxExpenseIncome" xlink:to="ifrs-full_CurrentTaxExpenseIncome_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AccountingProfit" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AccountingProfit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_AccountingProfit_lbl" xml:lang="en-US">Different tax rate of foreign subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccountingProfit" xlink:to="ifrs-full_AccountingProfit_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ActualTaxBenefittaxesOnIncome" xlink:href="ello-20231231.xsd#ello_ActualTaxBenefittaxesOnIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_ActualTaxBenefittaxesOnIncome_lbl" xml:lang="en-US">Actual tax benefit (taxes on income)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ActualTaxBenefittaxesOnIncome" xlink:to="ello_ActualTaxBenefittaxesOnIncome_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OfficeEquipmentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OfficeEquipmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OfficeEquipmentMember_lbl" xml:lang="en-US">Office furniture and equipment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OfficeEquipmentMember" xlink:to="ifrs-full_OfficeEquipmentMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OfficeEquipmentMember_lbl0" xml:lang="en-US">Office furniture and	equipment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OfficeEquipmentMember" xlink:to="ifrs-full_OfficeEquipmentMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_PhotovoltaicPlantsInSpainMember" xlink:href="ello-20231231.xsd#ello_PhotovoltaicPlantsInSpainMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PhotovoltaicPlantsInSpainMember_lbl" xml:lang="en-US">Photovoltaic plants in Spain [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PhotovoltaicPlantsInSpainMember" xlink:to="ello_PhotovoltaicPlantsInSpainMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AnaerobicDigestionPlantsNetherlandsMember" xlink:href="ello-20231231.xsd#ello_AnaerobicDigestionPlantsNetherlandsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AnaerobicDigestionPlantsNetherlandsMember_lbl" xml:lang="en-US">Biogas plants in the Netherlands [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AnaerobicDigestionPlantsNetherlandsMember" xlink:to="ello_AnaerobicDigestionPlantsNetherlandsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LeaseholdImprovementsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LeaseholdImprovementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LeaseholdImprovementsMember_lbl" xml:lang="en-US">Leasehold improvements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseholdImprovementsMember" xlink:to="ifrs-full_LeaseholdImprovementsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BottomOfRangeMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BottomOfRangeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BottomOfRangeMember_lbl" xml:lang="en-US">Bottom of range [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BottomOfRangeMember_lbl0" xml:lang="en-US">Bottom of Range [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TopOfRangeMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TopOfRangeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TopOfRangeMember_lbl" xml:lang="en-US">Top of range [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_TopOfRangeMember_lbl0" xml:lang="en-US">Top of Range [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_RestrictedCashAndBankDepositsMember" xlink:href="ello-20231231.xsd#ello_RestrictedCashAndBankDepositsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RestrictedCashAndBankDepositsMember_lbl" xml:lang="en-US">Restricted Cash, Deposits and Marketable Securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RestrictedCashAndBankDepositsMember" xlink:to="ello_RestrictedCashAndBankDepositsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DoriEnergyMember" xlink:href="ello-20231231.xsd#ello_DoriEnergyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DoriEnergyMember_lbl" xml:lang="en-US">Dori Energy [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoriEnergyMember" xlink:to="ello_DoriEnergyMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DevelopmentOfPvProjectsInItalyMember" xlink:href="ello-20231231.xsd#ello_DevelopmentOfPvProjectsInItalyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DevelopmentOfPvProjectsInItalyMember_lbl" xml:lang="en-US">Development of PV Projects in Italy [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DevelopmentOfPvProjectsInItalyMember" xlink:to="ello_DevelopmentOfPvProjectsInItalyMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GrossCarryingAmountMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_GrossCarryingAmountMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GrossCarryingAmountMember_lbl" xml:lang="en-US">Cost [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossCarryingAmountMember" xlink:to="ifrs-full_GrossCarryingAmountMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DepreciationMember" xlink:href="ello-20231231.xsd#ello_DepreciationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DepreciationMember_lbl" xml:lang="en-US">Depreciation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DepreciationMember" xlink:to="ello_DepreciationMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CarryingAmountsMember" xlink:href="ello-20231231.xsd#ello_CarryingAmountsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CarryingAmountsMember_lbl" xml:lang="en-US">Carrying amounts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CarryingAmountsMember" xlink:to="ello_CarryingAmountsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherPropertyPlantAndEquipmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherPropertyPlantAndEquipmentMember_lbl" xml:lang="en-US">Photovoltaic plants [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:to="ifrs-full_OtherPropertyPlantAndEquipmentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PumpedStorageMember" xlink:href="ello-20231231.xsd#ello_PumpedStorageMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PumpedStorageMember_lbl" xml:lang="en-US">Pumped storage [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PumpedStorageMember" xlink:to="ello_PumpedStorageMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_BiogasInstallationMember" xlink:href="ello-20231231.xsd#ello_BiogasInstallationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_BiogasInstallationMember_lbl" xml:lang="en-US">Biogas plants [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BiogasInstallationMember" xlink:to="ello_BiogasInstallationMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EllomaySpainRinconadaSecondMember" xlink:href="ello-20231231.xsd#ello_EllomaySpainRinconadaSecondMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EllomaySpainRinconadaSecondMember_lbl" xml:lang="en-US">Ellomay Spain &#8211; Rinconada II [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomaySpainRinconadaSecondMember" xlink:to="ello_EllomaySpainRinconadaSecondMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RodriguezFirstMember" xlink:href="ello-20231231.xsd#ello_RodriguezFirstMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RodriguezFirstMember_lbl" xml:lang="en-US">Rodr&#237;guez I [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RodriguezFirstMember" xlink:to="ello_RodriguezFirstMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RodriguezSecondMember" xlink:href="ello-20231231.xsd#ello_RodriguezSecondMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RodriguezSecondMember_lbl" xml:lang="en-US">Rodr&#237;guez II [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RodriguezSecondMember" xlink:to="ello_RodriguezSecondMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_FuenteLibrillaMember" xlink:href="ello-20231231.xsd#ello_FuenteLibrillaMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_FuenteLibrillaMember_lbl" xml:lang="en-US">Fuente Librilla [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FuenteLibrillaMember" xlink:to="ello_FuenteLibrillaMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TalasolMember" xlink:href="ello-20231231.xsd#ello_TalasolMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TalasolMember_lbl" xml:lang="en-US">Talasol [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolMember" xlink:to="ello_TalasolMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EllomaySolarMember" xlink:href="ello-20231231.xsd#ello_EllomaySolarMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EllomaySolarMember_lbl" xml:lang="en-US">Ellomay Solar [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomaySolarMember" xlink:to="ello_EllomaySolarMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SolarItalyOneMember" xlink:href="ello-20231231.xsd#ello_SolarItalyOneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SolarItalyOneMember_lbl" xml:lang="en-US">Solar Italy One [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SolarItalyOneMember" xlink:to="ello_SolarItalyOneMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SolarItalyTwoMember" xlink:href="ello-20231231.xsd#ello_SolarItalyTwoMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SolarItalyTwoMember_lbl" xml:lang="en-US">Solar Italy Two [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SolarItalyTwoMember" xlink:to="ello_SolarItalyTwoMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SolarItalyFourMember" xlink:href="ello-20231231.xsd#ello_SolarItalyFourMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SolarItalyFourMember_lbl" xml:lang="en-US">Solar Italy Four [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SolarItalyFourMember" xlink:to="ello_SolarItalyFourMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SolarItalyFiveMember" xlink:href="ello-20231231.xsd#ello_SolarItalyFiveMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SolarItalyFiveMember_lbl" xml:lang="en-US">Solar Italy Five [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SolarItalyFiveMember" xlink:to="ello_SolarItalyFiveMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SolarItalySevenMember" xlink:href="ello-20231231.xsd#ello_SolarItalySevenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SolarItalySevenMember_lbl" xml:lang="en-US">Solar Italy Seven [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SolarItalySevenMember" xlink:to="ello_SolarItalySevenMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SolarItalyNineMember" xlink:href="ello-20231231.xsd#ello_SolarItalyNineMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SolarItalyNineMember_lbl" xml:lang="en-US">Solar Italy Nine [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SolarItalyNineMember" xlink:to="ello_SolarItalyNineMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SolarItalyTenMember" xlink:href="ello-20231231.xsd#ello_SolarItalyTenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SolarItalyTenMember_lbl" xml:lang="en-US">Solar Italy Ten [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SolarItalyTenMember" xlink:to="ello_SolarItalyTenMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_FairfieldSolarMember" xlink:href="ello-20231231.xsd#ello_FairfieldSolarMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_FairfieldSolarMember_lbl" xml:lang="en-US">Fairfield Solar [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FairfieldSolarMember" xlink:to="ello_FairfieldSolarMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_MexiaSolarOneMember" xlink:href="ello-20231231.xsd#ello_MexiaSolarOneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_MexiaSolarOneMember_lbl" xml:lang="en-US">Mexia Solar I [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MexiaSolarOneMember" xlink:to="ello_MexiaSolarOneMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_MexiaSolarSecondMember" xlink:href="ello-20231231.xsd#ello_MexiaSolarSecondMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_MexiaSolarSecondMember_lbl" xml:lang="en-US">Mexia Solar II [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MexiaSolarSecondMember" xlink:to="ello_MexiaSolarSecondMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_MalakoffSolarOneMember" xlink:href="ello-20231231.xsd#ello_MalakoffSolarOneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_MalakoffSolarOneMember_lbl" xml:lang="en-US">Malakoff Solar I [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MalakoffSolarOneMember" xlink:to="ello_MalakoffSolarOneMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_MalakoffSolarSecondMember" xlink:href="ello-20231231.xsd#ello_MalakoffSolarSecondMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_MalakoffSolarSecondMember_lbl" xml:lang="en-US">Malakoff Solar II [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MalakoffSolarSecondMember" xlink:to="ello_MalakoffSolarSecondMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TalcoSolarMember" xlink:href="ello-20231231.xsd#ello_TalcoSolarMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TalcoSolarMember_lbl" xml:lang="en-US">Talco Solar [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalcoSolarMember" xlink:to="ello_TalcoSolarMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EuriborMember" xlink:href="ello-20231231.xsd#ello_EuriborMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EuriborMember_lbl" xml:lang="en-US">EURIBOR [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EuriborMember" xlink:to="ello_EuriborMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FixedInterestRateMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FixedInterestRateMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FixedInterestRateMember_lbl" xml:lang="en-US">Fixed interest rate [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FixedInterestRateMember" xlink:to="ifrs-full_FixedInterestRateMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ConsumerPriceIndexInIsraelMember" xlink:href="ello-20231231.xsd#ello_ConsumerPriceIndexInIsraelMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ConsumerPriceIndexInIsraelMember_lbl" xml:lang="en-US">Consumer price index in Israel [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConsumerPriceIndexInIsraelMember" xlink:to="ello_ConsumerPriceIndexInIsraelMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_BankLoanMember" xlink:href="ello-20231231.xsd#ello_BankLoanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_BankLoanMember_lbl" xml:lang="en-US">Bank Loan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BankLoanMember" xlink:to="ello_BankLoanMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_BankOfIsraelInterestRateMember" xlink:href="ello-20231231.xsd#ello_BankOfIsraelInterestRateMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_BankOfIsraelInterestRateMember_lbl" xml:lang="en-US">Bank Of Israel Interest Rate [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BankOfIsraelInterestRateMember" xlink:to="ello_BankOfIsraelInterestRateMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrentMaturitiesMember" xlink:href="ello-20231231.xsd#ello_CurrentMaturitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CurrentMaturitiesMember_lbl" xml:lang="en-US">Current Maturities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentMaturitiesMember" xlink:to="ello_CurrentMaturitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OtherLongTermLoansMember" xlink:href="ello-20231231.xsd#ello_OtherLongTermLoansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OtherLongTermLoansMember_lbl" xml:lang="en-US">Other long-term loans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherLongTermLoansMember" xlink:to="ello_OtherLongTermLoansMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_OtherLongTermLoansMember_lbl0" xml:lang="en-US">Other Long Term Loans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherLongTermLoansMember" xlink:to="ello_OtherLongTermLoansMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_FixedMember" xlink:href="ello-20231231.xsd#ello_FixedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_FixedMember_lbl" xml:lang="en-US">Fixed [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedMember" xlink:to="ello_FixedMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OtherLongtermLoansTotalMember" xlink:href="ello-20231231.xsd#ello_OtherLongtermLoansTotalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OtherLongtermLoansTotalMember_lbl" xml:lang="en-US">Other long-term loans total [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherLongtermLoansTotalMember" xlink:to="ello_OtherLongtermLoansTotalMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CurrentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentMember_lbl" xml:lang="en-US">Current Maturities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentMember" xlink:to="ifrs-full_CurrentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl" xml:lang="en-US">Second year [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl0" xml:lang="en-US">2-3 years [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl" xml:lang="en-US">Third year [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_lbl" xml:lang="en-US">Fourth year [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl" xml:lang="en-US">Fifth year [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanFiveYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanFiveYearsMember_lbl" xml:lang="en-US">Sixth year and thereafter [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFiveYearsMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LaterThanFiveYearsMember_lbl0" xml:lang="en-US">More than 5 years [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFiveYearsMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CorporateLoansMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CorporateLoansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CorporateLoansMember_lbl" xml:lang="en-US">Loans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CorporateLoansMember" xlink:to="ifrs-full_CorporateLoansMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoansAndBorrowingsMember" xlink:href="ello-20231231.xsd#ello_LoansAndBorrowingsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LoansAndBorrowingsMember_lbl" xml:lang="en-US">Loans and borrowings [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansAndBorrowingsMember" xlink:to="ello_LoansAndBorrowingsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ConvertibleDebenturesMember" xlink:href="ello-20231231.xsd#ello_ConvertibleDebenturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ConvertibleDebenturesMember_lbl" xml:lang="en-US">Debentures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConvertibleDebenturesMember" xlink:to="ello_ConvertibleDebenturesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AtFairValueMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AtFairValueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AtFairValueMember_lbl" xml:lang="en-US">Face value [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AtFairValueMember" xlink:to="ifrs-full_AtFairValueMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CarryingAmountMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CarryingAmountMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CarryingAmountMember_lbl" xml:lang="en-US">Carrying amount [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountMember" xlink:to="ifrs-full_CarryingAmountMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CarryingAmountMember_lbl0" xml:lang="en-US">Carrying amount [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountMember" xlink:to="ifrs-full_CarryingAmountMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanFiveYearsAndNotLaterThanSevenYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanFiveYearsAndNotLaterThanSevenYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanFiveYearsAndNotLaterThanSevenYearsMember_lbl" xml:lang="en-US">Later than five years and not later than seven years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFiveYearsAndNotLaterThanSevenYearsMember" xlink:to="ifrs-full_LaterThanFiveYearsAndNotLaterThanSevenYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RightofuseAssetsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RightofuseAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RightofuseAssetsMember_lbl" xml:lang="en-US">Right-of-use assets [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RightofuseAssetsMember" xlink:to="ifrs-full_RightofuseAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_BiogasMember" xlink:href="ello-20231231.xsd#ello_BiogasMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_BiogasMember_lbl" xml:lang="en-US">Bio Gas [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BiogasMember" xlink:to="ello_BiogasMember_lbl"/>
    <loc xlink:type="locator" xlink:label="country_IT" xlink:href="https://xbrl.sec.gov/country/2023/country-2023.xsd#country_IT"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="country_IT_lbl" xml:lang="en-US">Italy [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_IT" xlink:to="country_IT_lbl"/>
    <loc xlink:type="locator" xlink:label="country_ES" xlink:href="https://xbrl.sec.gov/country/2023/country-2023.xsd#country_ES"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="country_ES_lbl" xml:lang="en-US">Spain [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_ES" xlink:to="country_ES_lbl"/>
    <loc xlink:type="locator" xlink:label="country_US" xlink:href="https://xbrl.sec.gov/country/2023/country-2023.xsd#country_US"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="country_US_lbl" xml:lang="en-US">USA [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_US" xlink:to="country_US_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TalmeiYosefMember" xlink:href="ello-20231231.xsd#ello_TalmeiYosefMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TalmeiYosefMember_lbl" xml:lang="en-US">Talmei Yosef [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalmeiYosefMember" xlink:to="ello_TalmeiYosefMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LessThanOneYearMember" xlink:href="ello-20231231.xsd#ello_LessThanOneYearMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LessThanOneYearMember_lbl" xml:lang="en-US">Less than one year [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LessThanOneYearMember" xlink:to="ello_LessThanOneYearMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_LessThanOneYearMember_lbl0" xml:lang="en-US">Less than 1 year [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LessThanOneYearMember" xlink:to="ello_LessThanOneYearMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_OneToFiveYearsMember" xlink:href="ello-20231231.xsd#ello_OneToFiveYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OneToFiveYearsMember_lbl" xml:lang="en-US">One to five years [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OneToFiveYearsMember" xlink:to="ello_OneToFiveYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_MoreThanFiveYearsMember" xlink:href="ello-20231231.xsd#ello_MoreThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_MoreThanFiveYearsMember_lbl" xml:lang="en-US">More than five years [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MoreThanFiveYearsMember" xlink:to="ello_MoreThanFiveYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember_lbl" xml:lang="en-US">Key management personnel of entity or parent [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:to="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_KeyManagementNonPersonnelOfEntityOrParentMember" xlink:href="ello-20231231.xsd#ello_KeyManagementNonPersonnelOfEntityOrParentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_KeyManagementNonPersonnelOfEntityOrParentMember_lbl" xml:lang="en-US">Key Management Non Personnel of Entity or Parent [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_KeyManagementNonPersonnelOfEntityOrParentMember" xlink:to="ello_KeyManagementNonPersonnelOfEntityOrParentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EllomayLuzonEnergyMember" xlink:href="ello-20231231.xsd#ello_EllomayLuzonEnergyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EllomayLuzonEnergyMember_lbl" xml:lang="en-US">Ellomay Luzon Energy [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomayLuzonEnergyMember" xlink:to="ello_EllomayLuzonEnergyMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DiscontinuedOperationsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DiscontinuedOperationsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DiscontinuedOperationsMember_lbl" xml:lang="en-US">Discontinued operations [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DiscontinuedOperationsMember" xlink:to="ifrs-full_DiscontinuedOperationsMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DiscontinuedOperationsMember_lbl0" xml:lang="en-US">Discontinued Operations [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DiscontinuedOperationsMember" xlink:to="ifrs-full_DiscontinuedOperationsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_DiscontinuedOperationsMember_lbl1" xml:lang="en-US">Discontinued Operation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DiscontinuedOperationsMember" xlink:to="ifrs-full_DiscontinuedOperationsMember_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_OperatingCostsDepreciationAndAmortizationMember" xlink:href="ello-20231231.xsd#ello_OperatingCostsDepreciationAndAmortizationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OperatingCostsDepreciationAndAmortizationMember_lbl" xml:lang="en-US">Operating Costs, Depreciation and Amortization [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OperatingCostsDepreciationAndAmortizationMember" xlink:to="ello_OperatingCostsDepreciationAndAmortizationMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_FinancingExpensesMember" xlink:href="ello-20231231.xsd#ello_FinancingExpensesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_FinancingExpensesMember_lbl" xml:lang="en-US">Financing Expenses [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancingExpensesMember" xlink:to="ello_FinancingExpensesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_FinancialAssetMember" xlink:href="ello-20231231.xsd#ello_FinancialAssetMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_FinancialAssetMember_lbl" xml:lang="en-US">Financial Assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancialAssetMember" xlink:to="ello_FinancialAssetMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_FixedAssetsAndLeaseMember" xlink:href="ello-20231231.xsd#ello_FixedAssetsAndLeaseMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_FixedAssetsAndLeaseMember_lbl" xml:lang="en-US">Fixed Assets and Lease [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAssetsAndLeaseMember" xlink:to="ello_FixedAssetsAndLeaseMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SwapContractsMember" xlink:href="ello-20231231.xsd#ello_SwapContractsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SwapContractsMember_lbl" xml:lang="en-US">Swap Contracts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SwapContractsMember" xlink:to="ello_SwapContractsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CarryForwardTaxLossesMember" xlink:href="ello-20231231.xsd#ello_CarryForwardTaxLossesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CarryForwardTaxLossesMember_lbl" xml:lang="en-US">Carry- forward Tax Losses [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CarryForwardTaxLossesMember" xlink:to="ello_CarryForwardTaxLossesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SwapContractMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SwapContractMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SwapContractMember_lbl" xml:lang="en-US">Swap contracts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SwapContractMember" xlink:to="ifrs-full_SwapContractMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_SwapContractMember_lbl0" xml:lang="en-US">Swap contract [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SwapContractMember" xlink:to="ifrs-full_SwapContractMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_FinancialPowerSwapMember" xlink:href="ello-20231231.xsd#ello_FinancialPowerSwapMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_FinancialPowerSwapMember_lbl" xml:lang="en-US">Financial power swap [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancialPowerSwapMember" xlink:to="ello_FinancialPowerSwapMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SemiAnnuallyMember" xlink:href="ello-20231231.xsd#ello_SemiAnnuallyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SemiAnnuallyMember_lbl" xml:lang="en-US">Semi-annually [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SemiAnnuallyMember" xlink:to="ello_SemiAnnuallyMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_InterestSwapTransactionThreeMember" xlink:href="ello-20231231.xsd#ello_InterestSwapTransactionThreeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_InterestSwapTransactionThreeMember_lbl" xml:lang="en-US">Interest Swap Transaction Three [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestSwapTransactionThreeMember" xlink:to="ello_InterestSwapTransactionThreeMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ContractualCashFlowsMember" xlink:href="ello-20231231.xsd#ello_ContractualCashFlowsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ContractualCashFlowsMember_lbl" xml:lang="en-US">Contractual cash flows [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ContractualCashFlowsMember" xlink:to="ello_ContractualCashFlowsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_lbl" xml:lang="en-US">4-5 years [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NonMonetaryMember" xlink:href="ello-20231231.xsd#ello_NonMonetaryMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NonMonetaryMember_lbl" xml:lang="en-US">Non-monetary/ Non finance [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonMonetaryMember" xlink:to="ello_NonMonetaryMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrencyRiskNisMember" xlink:href="ello-20231231.xsd#ello_CurrencyRiskNisMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CurrencyRiskNisMember_lbl" xml:lang="en-US">NIS [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencyRiskNisMember" xlink:to="ello_CurrencyRiskNisMember_lbl"/>
    <loc xlink:type="locator" xlink:label="currency_USD" xlink:href="https://xbrl.sec.gov/currency/2023/currency-2023.xsd#currency_USD"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="currency_USD_lbl" xml:lang="en-US">USD [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_USD" xlink:to="currency_USD_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="currency_USD_lbl0" xml:lang="en-US">United States of America, Dollars</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_USD" xlink:to="currency_USD_lbl0"/>
    <loc xlink:type="locator" xlink:label="srt_EuropeMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_EuropeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_EuropeMember_lbl" xml:lang="en-US">EURO [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_EuropeMember" xlink:to="srt_EuropeMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrencyRiskEuroMember" xlink:href="ello-20231231.xsd#ello_CurrencyRiskEuroMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CurrencyRiskEuroMember_lbl" xml:lang="en-US">Currency Risk Euro [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencyRiskEuroMember" xlink:to="ello_CurrencyRiskEuroMember_lbl"/>
    <loc xlink:type="locator" xlink:label="currency_ILS" xlink:href="https://xbrl.sec.gov/currency/2023/currency-2023.xsd#currency_ILS"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="currency_ILS_lbl" xml:lang="en-US">NIS [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_ILS" xlink:to="currency_ILS_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="currency_ILS_lbl0" xml:lang="en-US">Israel, New Shekels</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_ILS" xlink:to="currency_ILS_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_IncreaseEquityMember" xlink:href="ello-20231231.xsd#ello_IncreaseEquityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_IncreaseEquityMember_lbl" xml:lang="en-US">Increase Equity [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseEquityMember" xlink:to="ello_IncreaseEquityMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DecreaseEquityMember" xlink:href="ello-20231231.xsd#ello_DecreaseEquityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DecreaseEquityMember_lbl" xml:lang="en-US">Decrease	Equity [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DecreaseEquityMember" xlink:to="ello_DecreaseEquityMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_IncreaseOnePercentageMember" xlink:href="ello-20231231.xsd#ello_IncreaseOnePercentageMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_IncreaseOnePercentageMember_lbl" xml:lang="en-US">Increase of 1% [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseOnePercentageMember" xlink:to="ello_IncreaseOnePercentageMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_IncreaseOfThreePercentageMember" xlink:href="ello-20231231.xsd#ello_IncreaseOfThreePercentageMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_IncreaseOfThreePercentageMember_lbl" xml:lang="en-US">Increase of 3% [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseOfThreePercentageMember" xlink:to="ello_IncreaseOfThreePercentageMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DecreaseOfOnePercentageMember" xlink:href="ello-20231231.xsd#ello_DecreaseOfOnePercentageMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DecreaseOfOnePercentageMember_lbl" xml:lang="en-US">Decrease of 1% [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DecreaseOfOnePercentageMember" xlink:to="ello_DecreaseOfOnePercentageMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DecreaseOfThreePercentageMember" xlink:href="ello-20231231.xsd#ello_DecreaseOfThreePercentageMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DecreaseOfThreePercentageMember_lbl" xml:lang="en-US">Decrease of 3% [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DecreaseOfThreePercentageMember" xlink:to="ello_DecreaseOfThreePercentageMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember_lbl" xml:lang="en-US">Carrying amount [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xlink:to="ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Level1OfFairValueHierarchyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember_lbl" xml:lang="en-US">Level 1 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level1OfFairValueHierarchyMember" xlink:to="ifrs-full_Level1OfFairValueHierarchyMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Level2OfFairValueHierarchyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember_lbl" xml:lang="en-US">Level 2 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level2OfFairValueHierarchyMember" xlink:to="ifrs-full_Level2OfFairValueHierarchyMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_Level3OfFairValueHierarchyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember_lbl" xml:lang="en-US">Level 3 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level3OfFairValueHierarchyMember" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember_lbl0" xml:lang="en-US">Level 3 of fair value hierarchy [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level3OfFairValueHierarchyMember" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ValuationTechniquesForDeterminingFairValueMember" xlink:href="ello-20231231.xsd#ello_ValuationTechniquesForDeterminingFairValueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ValuationTechniquesForDeterminingFairValueMember_lbl" xml:lang="en-US">Valuation techniques for determining fair value [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ValuationTechniquesForDeterminingFairValueMember" xlink:to="ello_ValuationTechniquesForDeterminingFairValueMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_InputsUsedToDetermineFairValueMember" xlink:href="ello-20231231.xsd#ello_InputsUsedToDetermineFairValueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_InputsUsedToDetermineFairValueMember_lbl" xml:lang="en-US">Inputs used to determine fair value [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InputsUsedToDetermineFairValueMember" xlink:to="ello_InputsUsedToDetermineFairValueMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoansFromBanksMember" xlink:href="ello-20231231.xsd#ello_LoansFromBanksMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LoansFromBanksMember_lbl" xml:lang="en-US">Loans from banks [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansFromBanksMember" xlink:to="ello_LoansFromBanksMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoansFromBanksTwoMember" xlink:href="ello-20231231.xsd#ello_LoansFromBanksTwoMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LoansFromBanksTwoMember_lbl" xml:lang="en-US">Loans from banks Two [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansFromBanksTwoMember" xlink:to="ello_LoansFromBanksTwoMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoansFromBanksThreeMember" xlink:href="ello-20231231.xsd#ello_LoansFromBanksThreeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LoansFromBanksThreeMember_lbl" xml:lang="en-US">Loans from banks Three [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansFromBanksThreeMember" xlink:to="ello_LoansFromBanksThreeMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoansFromBanksFourMember" xlink:href="ello-20231231.xsd#ello_LoansFromBanksFourMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LoansFromBanksFourMember_lbl" xml:lang="en-US">Loans from banks Four [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansFromBanksFourMember" xlink:to="ello_LoansFromBanksFourMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoansFromBanksFiveMember" xlink:href="ello-20231231.xsd#ello_LoansFromBanksFiveMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LoansFromBanksFiveMember_lbl" xml:lang="en-US">Loans from banks five [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansFromBanksFiveMember" xlink:to="ello_LoansFromBanksFiveMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoanFromOthersOneMember" xlink:href="ello-20231231.xsd#ello_LoanFromOthersOneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LoanFromOthersOneMember_lbl" xml:lang="en-US">Loan From Others One [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanFromOthersOneMember" xlink:to="ello_LoanFromOthersOneMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoanFromOthersTwoMember" xlink:href="ello-20231231.xsd#ello_LoanFromOthersTwoMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LoanFromOthersTwoMember_lbl" xml:lang="en-US">Loan From Others Two [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanFromOthersTwoMember" xlink:to="ello_LoanFromOthersTwoMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_MarketableSecuritiesMember" xlink:href="ello-20231231.xsd#ello_MarketableSecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_MarketableSecuritiesMember_lbl" xml:lang="en-US">Marketable Securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MarketableSecuritiesMember" xlink:to="ello_MarketableSecuritiesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DoriEnergyLoanMember" xlink:href="ello-20231231.xsd#ello_DoriEnergyLoanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DoriEnergyLoanMember_lbl" xml:lang="en-US">Dori Energy Loan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoriEnergyLoanMember" xlink:to="ello_DoriEnergyLoanMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EllomaySolarSpainMember" xlink:href="ello-20231231.xsd#ello_EllomaySolarSpainMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EllomaySolarSpainMember_lbl" xml:lang="en-US">Ellomay Solar Spain [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomaySolarSpainMember" xlink:to="ello_EllomaySolarSpainMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TalasolSpainMember" xlink:href="ello-20231231.xsd#ello_TalasolSpainMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TalasolSpainMember_lbl" xml:lang="en-US">Talasol Spain [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolSpainMember" xlink:to="ello_TalasolSpainMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DiscontinuedOperationIsraelMember" xlink:href="ello-20231231.xsd#ello_DiscontinuedOperationIsraelMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DiscontinuedOperationIsraelMember_lbl" xml:lang="en-US">Discontinued operation Israel [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DiscontinuedOperationIsraelMember" xlink:to="ello_DiscontinuedOperationIsraelMember_lbl"/>
    <loc xlink:type="locator" xlink:label="country_NL" xlink:href="https://xbrl.sec.gov/country/2023/country-2023.xsd#country_NL"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="country_NL_lbl" xml:lang="en-US">Bio Gas Netherland [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_NL" xlink:to="country_NL_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="country_NL_lbl0" xml:lang="en-US">Netherlands [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_NL" xlink:to="country_NL_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_DoradIsraelMember" xlink:href="ello-20231231.xsd#ello_DoradIsraelMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DoradIsraelMember_lbl" xml:lang="en-US">Dorad Israel [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoradIsraelMember" xlink:to="ello_DoradIsraelMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ManaraIsraelMember" xlink:href="ello-20231231.xsd#ello_ManaraIsraelMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ManaraIsraelMember_lbl" xml:lang="en-US">Manara Israel [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ManaraIsraelMember" xlink:to="ello_ManaraIsraelMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ReportableSegmentsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ReportableSegmentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ReportableSegmentsMember_lbl" xml:lang="en-US">Reportable Segments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReportableSegmentsMember" xlink:to="ifrs-full_ReportableSegmentsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ReconciliationsMember" xlink:href="ello-20231231.xsd#ello_ReconciliationsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ReconciliationsMember_lbl" xml:lang="en-US">Reconciliations [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReconciliationsMember" xlink:to="ello_ReconciliationsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SeparateMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SeparateMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SeparateMember_lbl" xml:lang="en-US">Consolidated [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SeparateMember" xlink:to="ifrs-full_SeparateMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SpanishPVSegmentMember" xlink:href="ello-20231231.xsd#ello_SpanishPVSegmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SpanishPVSegmentMember_lbl" xml:lang="en-US">Spanish PV segment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SpanishPVSegmentMember" xlink:to="ello_SpanishPVSegmentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EllomaySolarPVSegmentMember" xlink:href="ello-20231231.xsd#ello_EllomaySolarPVSegmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EllomaySolarPVSegmentMember_lbl" xml:lang="en-US">Ellomay Solar PV segment (Spain)	[Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomaySolarPVSegmentMember" xlink:to="ello_EllomaySolarPVSegmentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TalasolPVSegmentMember" xlink:href="ello-20231231.xsd#ello_TalasolPVSegmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TalasolPVSegmentMember_lbl" xml:lang="en-US">Talasol PV segment (Spain) [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolPVSegmentMember" xlink:to="ello_TalasolPVSegmentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NetherlandsBiogasSegmentMember" xlink:href="ello-20231231.xsd#ello_NetherlandsBiogasSegmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NetherlandsBiogasSegmentMember_lbl" xml:lang="en-US">Netherlands biogas segment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NetherlandsBiogasSegmentMember" xlink:to="ello_NetherlandsBiogasSegmentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="country_IL" xlink:href="https://xbrl.sec.gov/country/2023/country-2023.xsd#country_IL"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="country_IL_lbl" xml:lang="en-US">Israel [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_IL" xlink:to="country_IL_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember_lbl" xml:lang="en-US">Disposal Groups Classified as Held for Sale [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:to="ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl" xml:lang="en-US">Non-adjusting events after reporting period [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_lbl" xml:lang="en-US">Subsidiaries [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AgreementAxis" xlink:href="ello-20231231.xsd#ello_AgreementAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AgreementAxis_lbl" xml:lang="en-US">Agreement [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AgreementAxis" xlink:to="ello_AgreementAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TransactionAxis" xlink:href="ello-20231231.xsd#ello_TransactionAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TransactionAxis_lbl" xml:lang="en-US">Transaction [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionAxis" xlink:to="ello_TransactionAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis_lbl" xml:lang="en-US">Liabilities arising from financing activities [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis" xlink:to="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfShareCapitalAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ClassesOfShareCapitalAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfShareCapitalAxis_lbl" xml:lang="en-US">Classes of share capital [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TypesOfSharebasedPaymentArrangementsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_lbl" xml:lang="en-US">Types of share-based payment arrangements [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:to="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CounterpartiesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CounterpartiesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CounterpartiesAxis_lbl" xml:lang="en-US">Counterparties [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AwardYearAxis" xlink:href="ello-20231231.xsd#ello_AwardYearAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AwardYearAxis_lbl" xml:lang="en-US">Award Year [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AwardYearAxis" xlink:to="ello_AwardYearAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountingPoliciesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccountingPoliciesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xml:lang="en-US">Accounting Policies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_GreenGasProductionCapacity" xlink:href="ello-20231231.xsd#ello_GreenGasProductionCapacity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_GreenGasProductionCapacity_lbl" xml:lang="en-US">Green gas production capacity per year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GreenGasProductionCapacity" xlink:to="ello_GreenGasProductionCapacity_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PercentageOfEntitysRevenue" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PercentageOfEntitysRevenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PercentageOfEntitysRevenue_lbl" xml:lang="en-US">Entity, percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PercentageOfEntitysRevenue" xlink:to="ifrs-full_PercentageOfEntitysRevenue_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_PercentageOfEntitysRevenue_lbl0" xml:lang="en-US">Revenue percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PercentageOfEntitysRevenue" xlink:to="ifrs-full_PercentageOfEntitysRevenue_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfHedge" xlink:href="ello-20231231.xsd#ello_PercentageOfHedge"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfHedge_lbl" xml:lang="en-US">Percentage of hedge</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfHedge" xlink:to="ello_PercentageOfHedge_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_estimatedUsefulLlifeYear" xlink:href="ello-20231231.xsd#ello_estimatedUsefulLlifeYear"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_estimatedUsefulLlifeYear_lbl" xml:lang="en-US">Estimated useful life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_estimatedUsefulLlifeYear" xlink:to="ello_estimatedUsefulLlifeYear_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DepreciatedTerm" xlink:href="ello-20231231.xsd#ello_DepreciatedTerm"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DepreciatedTerm_lbl" xml:lang="en-US">Depreciated term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DepreciatedTerm" xlink:to="ello_DepreciatedTerm_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfShareCapitalHolds" xlink:href="ello-20231231.xsd#ello_PercentageOfShareCapitalHolds"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfShareCapitalHolds_lbl" xml:lang="en-US">Percentage of share capital holds</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfShareCapitalHolds" xlink:to="ello_PercentageOfShareCapitalHolds_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_IssuedProductionLicenses" xlink:href="ello-20231231.xsd#ello_IssuedProductionLicenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_IssuedProductionLicenses_lbl" xml:lang="en-US">Issued production licenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IssuedProductionLicenses" xlink:to="ello_IssuedProductionLicenses_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LicenseExpired" xlink:href="ello-20231231.xsd#ello_LicenseExpired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LicenseExpired_lbl" xml:lang="en-US">License expired date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LicenseExpired" xlink:to="ello_LicenseExpired_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ShareholdersLoans" xlink:href="ello-20231231.xsd#ello_ShareholdersLoans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ShareholdersLoans_lbl" xml:lang="en-US">Shareholders loans (in New Shekels)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShareholdersLoans" xlink:to="ello_ShareholdersLoans_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_InterestPayableOnDebtPercentage" xlink:href="ello-20231231.xsd#ello_InterestPayableOnDebtPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_InterestPayableOnDebtPercentage_lbl" xml:lang="en-US">Interest payable on debt percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestPayableOnDebtPercentage" xlink:to="ello_InterestPayableOnDebtPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AmountFinancialAgreementGuaranteesByDirectShare" xlink:href="ello-20231231.xsd#ello_AmountFinancialAgreementGuaranteesByDirectShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AmountFinancialAgreementGuaranteesByDirectShare_lbl" xml:lang="en-US">Aggregate amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountFinancialAgreementGuaranteesByDirectShare" xlink:to="ello_AmountFinancialAgreementGuaranteesByDirectShare_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AmountFinancialAgreementGuaranteesByIndirectShare" xlink:href="ello-20231231.xsd#ello_AmountFinancialAgreementGuaranteesByIndirectShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AmountFinancialAgreementGuaranteesByIndirectShare_lbl" xml:lang="en-US">Indirect share of guarantees shareholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountFinancialAgreementGuaranteesByIndirectShare" xlink:to="ello_AmountFinancialAgreementGuaranteesByIndirectShare_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfAverageProductionReduced" xlink:href="ello-20231231.xsd#ello_PercentageOfAverageProductionReduced"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfAverageProductionReduced_lbl" xml:lang="en-US">Average production decrease percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfAverageProductionReduced" xlink:to="ello_PercentageOfAverageProductionReduced_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfProductionIncrease" xlink:href="ello-20231231.xsd#ello_PercentageOfProductionIncrease"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfProductionIncrease_lbl" xml:lang="en-US">Percentage of production increase</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfProductionIncrease" xlink:to="ello_PercentageOfProductionIncrease_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ClaimsAmountPayment" xlink:href="ello-20231231.xsd#ello_ClaimsAmountPayment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ClaimsAmountPayment_lbl" xml:lang="en-US">Claims amount payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ClaimsAmountPayment" xlink:to="ello_ClaimsAmountPayment_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ClaimsInterestPaymentAmount" xlink:href="ello-20231231.xsd#ello_ClaimsInterestPaymentAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ClaimsInterestPaymentAmount_lbl" xml:lang="en-US">Claims interest payment amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ClaimsInterestPaymentAmount" xlink:to="ello_ClaimsInterestPaymentAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RefundAmountInClaim" xlink:href="ello-20231231.xsd#ello_RefundAmountInClaim"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RefundAmountInClaim_lbl" xml:lang="en-US">Refund amount in claim</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RefundAmountInClaim" xlink:to="ello_RefundAmountInClaim_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PaymentReceivedForManagementAndEntrepreneurshipServices" xlink:href="ello-20231231.xsd#ello_PaymentReceivedForManagementAndEntrepreneurshipServices"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PaymentReceivedForManagementAndEntrepreneurshipServices_lbl" xml:lang="en-US">Payment received for management and entrepreneurship services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentReceivedForManagementAndEntrepreneurshipServices" xlink:to="ello_PaymentReceivedForManagementAndEntrepreneurshipServices_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageDecreaseFromDoradHolding" xlink:href="ello-20231231.xsd#ello_PercentageDecreaseFromDoradHolding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageDecreaseFromDoradHolding_lbl" xml:lang="en-US">Percentage decrease from Dorad Holding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageDecreaseFromDoradHolding" xlink:to="ello_PercentageDecreaseFromDoradHolding_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RecoveryOfAmountCommitted" xlink:href="ello-20231231.xsd#ello_RecoveryOfAmountCommitted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RecoveryOfAmountCommitted_lbl" xml:lang="en-US">Recovery of amount (in New Shekels)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RecoveryOfAmountCommitted" xlink:to="ello_RecoveryOfAmountCommitted_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ExpensesPercentage" xlink:href="ello-20231231.xsd#ello_ExpensesPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ExpensesPercentage_lbl" xml:lang="en-US">Expenses percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ExpensesPercentage" xlink:to="ello_ExpensesPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfAcquireCooperativesHoldings" xlink:href="ello-20231231.xsd#ello_PercentageOfAcquireCooperativesHoldings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfAcquireCooperativesHoldings_lbl" xml:lang="en-US">Ownership percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfAcquireCooperativesHoldings" xlink:to="ello_PercentageOfAcquireCooperativesHoldings_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AmountOfAcquisition" xlink:href="ello-20231231.xsd#ello_AmountOfAcquisition"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AmountOfAcquisition_lbl" xml:lang="en-US">Amount of acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfAcquisition" xlink:to="ello_AmountOfAcquisition_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RemainingAmountOfAcquisition" xlink:href="ello-20231231.xsd#ello_RemainingAmountOfAcquisition"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RemainingAmountOfAcquisition_lbl" xml:lang="en-US">Remaining amount of Acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RemainingAmountOfAcquisition" xlink:to="ello_RemainingAmountOfAcquisition_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AmountForfeitureOfLicenseGuarantee" xlink:href="ello-20231231.xsd#ello_AmountForfeitureOfLicenseGuarantee"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AmountForfeitureOfLicenseGuarantee_lbl" xml:lang="en-US">Forfeiture of license guarantee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountForfeitureOfLicenseGuarantee" xlink:to="ello_AmountForfeitureOfLicenseGuarantee_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TransmissionNetworkPeriod" xlink:href="ello-20231231.xsd#ello_TransmissionNetworkPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TransmissionNetworkPeriod_lbl" xml:lang="en-US">Transmission network period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransmissionNetworkPeriod" xlink:to="ello_TransmissionNetworkPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AmountOfShareholdersFinancingCommitments" xlink:href="ello-20231231.xsd#ello_AmountOfShareholdersFinancingCommitments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AmountOfShareholdersFinancingCommitments_lbl" xml:lang="en-US">Additional amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfShareholdersFinancingCommitments" xlink:to="ello_AmountOfShareholdersFinancingCommitments_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_FinanceProvidedByOwners" xlink:href="ello-20231231.xsd#ello_FinanceProvidedByOwners"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_FinanceProvidedByOwners_lbl" xml:lang="en-US">Finance provided by owners</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceProvidedByOwners" xlink:to="ello_FinanceProvidedByOwners_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xml:lang="en-US">Investment percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_StandbyEquityGuarantee" xlink:href="ello-20231231.xsd#ello_StandbyEquityGuarantee"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_StandbyEquityGuarantee_lbl" xml:lang="en-US">Equity guarantee aggregate amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_StandbyEquityGuarantee" xlink:to="ello_StandbyEquityGuarantee_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_StandbyEquityGuarantee_lbl0" xml:lang="en-US">Standby equity guarantee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_StandbyEquityGuarantee" xlink:to="ello_StandbyEquityGuarantee_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_EstimatedAdditionalEquity" xlink:href="ello-20231231.xsd#ello_EstimatedAdditionalEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EstimatedAdditionalEquity_lbl" xml:lang="en-US">Additional equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EstimatedAdditionalEquity" xlink:to="ello_EstimatedAdditionalEquity_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AggregateGrossConsideration" xlink:href="ello-20231231.xsd#ello_AggregateGrossConsideration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AggregateGrossConsideration_lbl" xml:lang="en-US">Aggregate consideration amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateGrossConsideration" xlink:to="ello_AggregateGrossConsideration_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_AggregateGrossConsideration_lbl0" xml:lang="en-US">Aggregate gross consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateGrossConsideration" xlink:to="ello_AggregateGrossConsideration_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ConstructionPeriod" xlink:href="ello-20231231.xsd#ello_ConstructionPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ConstructionPeriod_lbl" xml:lang="en-US">Construction period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConstructionPeriod" xlink:to="ello_ConstructionPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AdvancePayment" xlink:href="ello-20231231.xsd#ello_AdvancePayment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AdvancePayment_lbl" xml:lang="en-US">Advance payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdvancePayment" xlink:to="ello_AdvancePayment_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_GreenGasProductionCapacityLevel" xlink:href="ello-20231231.xsd#ello_GreenGasProductionCapacityLevel"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_GreenGasProductionCapacityLevel_lbl" xml:lang="en-US">Green gas production capacity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GreenGasProductionCapacityLevel" xlink:to="ello_GreenGasProductionCapacityLevel_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SharesValue" xlink:href="ello-20231231.xsd#ello_SharesValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SharesValue_lbl" xml:lang="en-US">Share value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SharesValue" xlink:to="ello_SharesValue_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ConstructionAgreementAmount" xlink:href="ello-20231231.xsd#ello_ConstructionAgreementAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ConstructionAgreementAmount_lbl" xml:lang="en-US">Construction agreement amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConstructionAgreementAmount" xlink:to="ello_ConstructionAgreementAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OutputPercentageOfFinancialPowerSwap" xlink:href="ello-20231231.xsd#ello_OutputPercentageOfFinancialPowerSwap"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OutputPercentageOfFinancialPowerSwap_lbl" xml:lang="en-US">Swap output percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OutputPercentageOfFinancialPowerSwap" xlink:to="ello_OutputPercentageOfFinancialPowerSwap_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PeriodOfFinancialPowerSwap" xlink:href="ello-20231231.xsd#ello_PeriodOfFinancialPowerSwap"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PeriodOfFinancialPowerSwap_lbl" xml:lang="en-US">Plant for a period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PeriodOfFinancialPowerSwap" xlink:to="ello_PeriodOfFinancialPowerSwap_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ProjectFinancingAggregateAmount" xlink:href="ello-20231231.xsd#ello_ProjectFinancingAggregateAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ProjectFinancingAggregateAmount_lbl" xml:lang="en-US">Aggregate purchase price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProjectFinancingAggregateAmount" xlink:to="ello_ProjectFinancingAggregateAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PercentageOfVotingEquityInterestsAcquired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired_lbl" xml:lang="en-US">Amount withdrawn</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:to="ifrs-full_PercentageOfVotingEquityInterestsAcquired_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityInterestsOfAcquirer" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EquityInterestsOfAcquirer"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityInterestsOfAcquirer_lbl" xml:lang="en-US">Interest accrued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityInterestsOfAcquirer" xlink:to="ifrs-full_EquityInterestsOfAcquirer_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PaymentPercentage" xlink:href="ello-20231231.xsd#ello_PaymentPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PaymentPercentage_lbl" xml:lang="en-US">Payment percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentPercentage" xlink:to="ello_PaymentPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RecognizedAmountInEquity" xlink:href="ello-20231231.xsd#ello_RecognizedAmountInEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RecognizedAmountInEquity_lbl" xml:lang="en-US">Premium amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RecognizedAmountInEquity" xlink:to="ello_RecognizedAmountInEquity_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DeferredAggregatePurchasePrice" xlink:href="ello-20231231.xsd#ello_DeferredAggregatePurchasePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DeferredAggregatePurchasePrice_lbl" xml:lang="en-US">Aggregate purchase price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DeferredAggregatePurchasePrice" xlink:to="ello_DeferredAggregatePurchasePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DeferredPaymentReceived" xlink:href="ello-20231231.xsd#ello_DeferredPaymentReceived"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DeferredPaymentReceived_lbl" xml:lang="en-US">Deferred payment amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DeferredPaymentReceived" xlink:to="ello_DeferredPaymentReceived_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AssociatedExpensesInEquity" xlink:href="ello-20231231.xsd#ello_AssociatedExpensesInEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AssociatedExpensesInEquity_lbl" xml:lang="en-US">Expenses amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AssociatedExpensesInEquity" xlink:to="ello_AssociatedExpensesInEquity_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PrepaymentOfOutstandingAmount" xlink:href="ello-20231231.xsd#ello_PrepaymentOfOutstandingAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PrepaymentOfOutstandingAmount_lbl" xml:lang="en-US">Prepayment outstanding amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PrepaymentOfOutstandingAmount" xlink:to="ello_PrepaymentOfOutstandingAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DepositAsDebtServiceFund" xlink:href="ello-20231231.xsd#ello_DepositAsDebtServiceFund"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DepositAsDebtServiceFund_lbl" xml:lang="en-US">Deposit amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DepositAsDebtServiceFund" xlink:to="ello_DepositAsDebtServiceFund_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_DepositAsDebtServiceFund_lbl0" xml:lang="en-US">Aggregate amount of withdrawn</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DepositAsDebtServiceFund" xlink:to="ello_DepositAsDebtServiceFund_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_DepositAsSecurityForLetterOfCredit" xlink:href="ello-20231231.xsd#ello_DepositAsSecurityForLetterOfCredit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DepositAsSecurityForLetterOfCredit_lbl" xml:lang="en-US">Security for a letter of credit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DepositAsSecurityForLetterOfCredit" xlink:to="ello_DepositAsSecurityForLetterOfCredit_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PreviousFinancingAmount" xlink:href="ello-20231231.xsd#ello_PreviousFinancingAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PreviousFinancingAmount_lbl" xml:lang="en-US">Financing amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PreviousFinancingAmount" xlink:to="ello_PreviousFinancingAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ExpectedSpecialDividend" xlink:href="ello-20231231.xsd#ello_ExpectedSpecialDividend"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ExpectedSpecialDividend_lbl" xml:lang="en-US">Special dividend</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ExpectedSpecialDividend" xlink:to="ello_ExpectedSpecialDividend_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_FixedAndLumpsumAmount" xlink:href="ello-20231231.xsd#ello_FixedAndLumpsumAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_FixedAndLumpsumAmount_lbl" xml:lang="en-US">Fixed and lump-sum amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAndLumpsumAmount" xlink:to="ello_FixedAndLumpsumAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PeriodOfPlantOperate" xlink:href="ello-20231231.xsd#ello_PeriodOfPlantOperate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PeriodOfPlantOperate_lbl" xml:lang="en-US">Plant for a period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PeriodOfPlantOperate" xlink:to="ello_PeriodOfPlantOperate_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ElectricityPerShare" xlink:href="ello-20231231.xsd#ello_ElectricityPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ElectricityPerShare_lbl" xml:lang="en-US">Electricity produce per share (in New Shekels per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ElectricityPerShare" xlink:to="ello_ElectricityPerShare_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ContractualCommitmentsForAcquisitionOfIntangibleAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ContractualCommitmentsForAcquisitionOfIntangibleAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ContractualCommitmentsForAcquisitionOfIntangibleAssets_lbl" xml:lang="en-US">Intangible asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContractualCommitmentsForAcquisitionOfIntangibleAssets" xlink:to="ifrs-full_ContractualCommitmentsForAcquisitionOfIntangibleAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InvestmentPropertyUnderConstructionOrDevelopment" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InvestmentPropertyUnderConstructionOrDevelopment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InvestmentPropertyUnderConstructionOrDevelopment_lbl" xml:lang="en-US">Cost of development and construction</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentPropertyUnderConstructionOrDevelopment" xlink:to="ifrs-full_InvestmentPropertyUnderConstructionOrDevelopment_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BorrowingCostsCapitalised" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BorrowingCostsCapitalised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BorrowingCostsCapitalised_lbl" xml:lang="en-US">Borrowing costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingCostsCapitalised" xlink:to="ifrs-full_BorrowingCostsCapitalised_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_MinorityPercentage" xlink:href="ello-20231231.xsd#ello_MinorityPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_MinorityPercentage_lbl" xml:lang="en-US">Minority percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MinorityPercentage" xlink:to="ello_MinorityPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NumberOfSplittingOfLoans" xlink:href="ello-20231231.xsd#ello_NumberOfSplittingOfLoans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NumberOfSplittingOfLoans_lbl" xml:lang="en-US">Separate loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfSplittingOfLoans" xlink:to="ello_NumberOfSplittingOfLoans_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BorrowingsMaturity" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BorrowingsMaturity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BorrowingsMaturity_lbl" xml:lang="en-US">Maturity date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsMaturity" xlink:to="ifrs-full_BorrowingsMaturity_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LongTermBorrowingsRiseInCurrentYear" xlink:href="ello-20231231.xsd#ello_LongTermBorrowingsRiseInCurrentYear"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LongTermBorrowingsRiseInCurrentYear_lbl" xml:lang="en-US">Long-term facilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LongTermBorrowingsRiseInCurrentYear" xlink:to="ello_LongTermBorrowingsRiseInCurrentYear_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_MaturityPeriod" xlink:href="ello-20231231.xsd#ello_MaturityPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_MaturityPeriod_lbl" xml:lang="en-US">Repaid over a period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MaturityPeriod" xlink:to="ello_MaturityPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AggregateBookValueInvestmentInSubsidiary" xlink:href="ello-20231231.xsd#ello_AggregateBookValueInvestmentInSubsidiary"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AggregateBookValueInvestmentInSubsidiary_lbl" xml:lang="en-US">Aggregate amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateBookValueInvestmentInSubsidiary" xlink:to="ello_AggregateBookValueInvestmentInSubsidiary_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfMaximumGuaranteedAmount" xlink:href="ello-20231231.xsd#ello_PercentageOfMaximumGuaranteedAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfMaximumGuaranteedAmount_lbl" xml:lang="en-US">Interest rate range</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfMaximumGuaranteedAmount" xlink:to="ello_PercentageOfMaximumGuaranteedAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_FixedAnnualInterestRate" xlink:href="ello-20231231.xsd#ello_FixedAnnualInterestRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_FixedAnnualInterestRate_lbl" xml:lang="en-US">Fixed interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAnnualInterestRate" xlink:to="ello_FixedAnnualInterestRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AmountWithdrawnFromLoanAccount" xlink:href="ello-20231231.xsd#ello_AmountWithdrawnFromLoanAccount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AmountWithdrawnFromLoanAccount_lbl" xml:lang="en-US">Withdrawn loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountWithdrawnFromLoanAccount" xlink:to="ello_AmountWithdrawnFromLoanAccount_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OnCallCreditFacility" xlink:href="ello-20231231.xsd#ello_OnCallCreditFacility"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OnCallCreditFacility_lbl" xml:lang="en-US">Variable interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OnCallCreditFacility" xlink:to="ello_OnCallCreditFacility_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DescriptionOfDebtEquityRatioAndHoldings" xlink:href="ello-20231231.xsd#ello_DescriptionOfDebtEquityRatioAndHoldings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DescriptionOfDebtEquityRatioAndHoldings_lbl" xml:lang="en-US">Goor loan agreement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfDebtEquityRatioAndHoldings" xlink:to="ello_DescriptionOfDebtEquityRatioAndHoldings_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NumberOfPaymentsInstallment" xlink:href="ello-20231231.xsd#ello_NumberOfPaymentsInstallment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NumberOfPaymentsInstallment_lbl" xml:lang="en-US">/Number of installment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfPaymentsInstallment" xlink:to="ello_NumberOfPaymentsInstallment_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RemainingBorrowingsAmount" xlink:href="ello-20231231.xsd#ello_RemainingBorrowingsAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RemainingBorrowingsAmount_lbl" xml:lang="en-US">Outstanding principal amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RemainingBorrowingsAmount" xlink:to="ello_RemainingBorrowingsAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_MaturityPeriodTerm" xlink:href="ello-20231231.xsd#ello_MaturityPeriodTerm"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_MaturityPeriodTerm_lbl" xml:lang="en-US">Maturity period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MaturityPeriodTerm" xlink:to="ello_MaturityPeriodTerm_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ExtensionOfMaturityTermPeriod" xlink:href="ello-20231231.xsd#ello_ExtensionOfMaturityTermPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ExtensionOfMaturityTermPeriod_lbl" xml:lang="en-US">Extension of maturity period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ExtensionOfMaturityTermPeriod" xlink:to="ello_ExtensionOfMaturityTermPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NotionalAmount" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NotionalAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NotionalAmount_lbl" xml:lang="en-US">Aggregate amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotionalAmount" xlink:to="ifrs-full_NotionalAmount_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NotionalAmount_lbl0" xml:lang="en-US">Notional amount (in New Shekels)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotionalAmount" xlink:to="ifrs-full_NotionalAmount_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_AggregateNominalPurchasePrice" xlink:href="ello-20231231.xsd#ello_AggregateNominalPurchasePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AggregateNominalPurchasePrice_lbl" xml:lang="en-US">Aggregate nominal purchase price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateNominalPurchasePrice" xlink:to="ello_AggregateNominalPurchasePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfMinorityInterestOfOwnershipInterestInAssociate" xlink:href="ello-20231231.xsd#ello_PercentageOfMinorityInterestOfOwnershipInterestInAssociate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfMinorityInterestOfOwnershipInterestInAssociate_lbl" xml:lang="en-US">Owns of Talasol</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfMinorityInterestOfOwnershipInterestInAssociate" xlink:to="ello_PercentageOfMinorityInterestOfOwnershipInterestInAssociate_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_GrossProceedsFromIssueOfBondsNotesAndDebentures" xlink:href="ello-20231231.xsd#ello_GrossProceedsFromIssueOfBondsNotesAndDebentures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_GrossProceedsFromIssueOfBondsNotesAndDebentures_lbl" xml:lang="en-US">Gross proceeds from offering</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GrossProceedsFromIssueOfBondsNotesAndDebentures" xlink:to="ello_GrossProceedsFromIssueOfBondsNotesAndDebentures_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PrincipalAmountOfEachUnitComprised" xlink:href="ello-20231231.xsd#ello_PrincipalAmountOfEachUnitComprised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PrincipalAmountOfEachUnitComprised_lbl" xml:lang="en-US">Principal amount of each unit comprised (in New Shekels)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PrincipalAmountOfEachUnitComprised" xlink:to="ello_PrincipalAmountOfEachUnitComprised_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DebentureIssuedPerUnitPrice" xlink:href="ello-20231231.xsd#ello_DebentureIssuedPerUnitPrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DebentureIssuedPerUnitPrice_lbl" xml:lang="en-US">Debenture issued per unit price (in New Shekels per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebentureIssuedPerUnitPrice" xlink:to="ello_DebentureIssuedPerUnitPrice_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AggregateRepaymentOfDebenture" xlink:href="ello-20231231.xsd#ello_AggregateRepaymentOfDebenture"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AggregateRepaymentOfDebenture_lbl" xml:lang="en-US">Aggregate repayment of debenture (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateRepaymentOfDebenture" xlink:to="ello_AggregateRepaymentOfDebenture_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DebenturesPayableTerm" xlink:href="ello-20231231.xsd#ello_DebenturesPayableTerm"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DebenturesPayableTerm_lbl" xml:lang="en-US">Debentures payable term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesPayableTerm" xlink:to="ello_DebenturesPayableTerm_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_IncreaseInPercentageOfInterest" xlink:href="ello-20231231.xsd#ello_IncreaseInPercentageOfInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_IncreaseInPercentageOfInterest_lbl" xml:lang="en-US">Annual interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseInPercentageOfInterest" xlink:to="ello_IncreaseInPercentageOfInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AmountOfImmediateRepaymentProvision" xlink:href="ello-20231231.xsd#ello_AmountOfImmediateRepaymentProvision"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AmountOfImmediateRepaymentProvision_lbl" xml:lang="en-US">Amount of immediate repayment provision (in Euro)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfImmediateRepaymentProvision" xlink:to="ello_AmountOfImmediateRepaymentProvision_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfImmediateRepaymentProvision" xlink:href="ello-20231231.xsd#ello_PercentageOfImmediateRepaymentProvision"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfImmediateRepaymentProvision_lbl" xml:lang="en-US">Percentage of immediate repayment provision</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfImmediateRepaymentProvision" xlink:to="ello_PercentageOfImmediateRepaymentProvision_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfInterestIncreaseProvision" xlink:href="ello-20231231.xsd#ello_PercentageOfInterestIncreaseProvision"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfInterestIncreaseProvision_lbl" xml:lang="en-US">Percentage of interest increase provision</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfInterestIncreaseProvision" xlink:to="ello_PercentageOfInterestIncreaseProvision_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfDistributableProfit" xlink:href="ello-20231231.xsd#ello_PercentageOfDistributableProfit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfDistributableProfit_lbl" xml:lang="en-US">Percentage of distributable profit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfDistributableProfit" xlink:to="ello_PercentageOfDistributableProfit_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfEquityOnConsolidatedBasis" xlink:href="ello-20231231.xsd#ello_PercentageOfEquityOnConsolidatedBasis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfEquityOnConsolidatedBasis_lbl" xml:lang="en-US">Percentage of equity on consolidated basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfEquityOnConsolidatedBasis" xlink:to="ello_PercentageOfEquityOnConsolidatedBasis_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare" xlink:href="ello-20231231.xsd#ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare_lbl" xml:lang="en-US">Debentures Convertible Into Ordinary Shares Par Value Per Share (in New Shekels per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare" xlink:to="ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare_lbl0" xml:lang="en-US">Conversion price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare" xlink:to="ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_DebtInstrumentConversionPrice" xlink:href="ello-20231231.xsd#ello_DebtInstrumentConversionPrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DebtInstrumentConversionPrice_lbl" xml:lang="en-US">Debt Instrument Conversion Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebtInstrumentConversionPrice" xlink:to="ello_DebtInstrumentConversionPrice_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt" xlink:href="ello-20231231.xsd#ello_LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt_lbl" xml:lang="en-US">Long Term Liabilities Recognized In Connection With Convertible Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt" xlink:to="ello_LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DecreaseInAnnualInterestRateForDebentures" xlink:href="ello-20231231.xsd#ello_DecreaseInAnnualInterestRateForDebentures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DecreaseInAnnualInterestRateForDebentures_lbl" xml:lang="en-US">Interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DecreaseInAnnualInterestRateForDebentures" xlink:to="ello_DecreaseInAnnualInterestRateForDebentures_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AmountOfExpansionOfAggregateParValueOfDebentures" xlink:href="ello-20231231.xsd#ello_AmountOfExpansionOfAggregateParValueOfDebentures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AmountOfExpansionOfAggregateParValueOfDebentures_lbl" xml:lang="en-US">Amount Of Expansion Of Aggregate Par Value Of Debentures (in New Shekels)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfExpansionOfAggregateParValueOfDebentures" xlink:to="ello_AmountOfExpansionOfAggregateParValueOfDebentures_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AmountOfAdjustmentOfBalanceSheetEquity" xlink:href="ello-20231231.xsd#ello_AmountOfAdjustmentOfBalanceSheetEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AmountOfAdjustmentOfBalanceSheetEquity_lbl" xml:lang="en-US">Equity rate (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfAdjustmentOfBalanceSheetEquity" xlink:to="ello_AmountOfAdjustmentOfBalanceSheetEquity_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OperatingLeaseAgreementTerm" xlink:href="ello-20231231.xsd#ello_OperatingLeaseAgreementTerm"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OperatingLeaseAgreementTerm_lbl" xml:lang="en-US">Operating Lease Agreement Term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OperatingLeaseAgreementTerm" xlink:to="ello_OperatingLeaseAgreementTerm_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LeaseExpireDates" xlink:href="ello-20231231.xsd#ello_LeaseExpireDates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LeaseExpireDates_lbl" xml:lang="en-US">Lease Expire dates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LeaseExpireDates" xlink:to="ello_LeaseExpireDates_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CapitalizedRent" xlink:href="ello-20231231.xsd#ello_CapitalizedRent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CapitalizedRent_lbl" xml:lang="en-US">Capitalized rent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CapitalizedRent" xlink:to="ello_CapitalizedRent_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_QuarterlyRent" xlink:href="ello-20231231.xsd#ello_QuarterlyRent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_QuarterlyRent_lbl" xml:lang="en-US">Quarterly rent (in New Shekels)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_QuarterlyRent" xlink:to="ello_QuarterlyRent_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RentPercentage" xlink:href="ello-20231231.xsd#ello_RentPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RentPercentage_lbl" xml:lang="en-US">Percentage of rent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RentPercentage" xlink:to="ello_RentPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RentalTerms" xlink:href="ello-20231231.xsd#ello_RentalTerms"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RentalTerms_lbl" xml:lang="en-US">Rent years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RentalTerms" xlink:to="ello_RentalTerms_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PaymentToLeaseLiability" xlink:href="ello-20231231.xsd#ello_PaymentToLeaseLiability"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PaymentToLeaseLiability_lbl" xml:lang="en-US">Payment of lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentToLeaseLiability" xlink:to="ello_PaymentToLeaseLiability_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AnnualRent" xlink:href="ello-20231231.xsd#ello_AnnualRent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AnnualRent_lbl" xml:lang="en-US">Annual rent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AnnualRent" xlink:to="ello_AnnualRent_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AnnualRentIncreasesPercentage" xlink:href="ello-20231231.xsd#ello_AnnualRentIncreasesPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AnnualRentIncreasesPercentage_lbl" xml:lang="en-US">Annual rent increases percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AnnualRentIncreasesPercentage" xlink:to="ello_AnnualRentIncreasesPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RightofuseAsset" xlink:href="ello-20231231.xsd#ello_RightofuseAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RightofuseAsset_lbl" xml:lang="en-US">Right-of-use asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RightofuseAsset" xlink:to="ello_RightofuseAsset_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ServicesReceivedRelatedPartyTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ServicesReceivedRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ServicesReceivedRelatedPartyTransactions_lbl" xml:lang="en-US">Aggregate annual management fee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ServicesReceivedRelatedPartyTransactions" xlink:to="ifrs-full_ServicesReceivedRelatedPartyTransactions_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CompanysShareholders" xlink:href="ello-20231231.xsd#ello_CompanysShareholders"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CompanysShareholders_lbl" xml:lang="en-US">Company&#8217;s shareholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompanysShareholders" xlink:to="ello_CompanysShareholders_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OutstandingCommitmentsMadeByEntityRelatedPartyTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OutstandingCommitmentsMadeByEntityRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OutstandingCommitmentsMadeByEntityRelatedPartyTransactions_lbl" xml:lang="en-US">Conversion amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OutstandingCommitmentsMadeByEntityRelatedPartyTransactions" xlink:to="ifrs-full_OutstandingCommitmentsMadeByEntityRelatedPartyTransactions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions_lbl" xml:lang="en-US">Shareholders loans portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions" xlink:to="ifrs-full_OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_NetOfTreasuryShares" xlink:href="ello-20231231.xsd#ello_NetOfTreasuryShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_NetOfTreasuryShares_lbl" xml:lang="en-US">Net of treasury shares (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NetOfTreasuryShares" xlink:to="ello_NetOfTreasuryShares_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AmountOfOrdinarySharesRepurchased" xlink:href="ello-20231231.xsd#ello_AmountOfOrdinarySharesRepurchased"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AmountOfOrdinarySharesRepurchased_lbl" xml:lang="en-US">Amount of ordinary shares repurchased (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfOrdinarySharesRepurchased" xlink:to="ello_AmountOfOrdinarySharesRepurchased_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ParValuePerShare" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ParValuePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ParValuePerShare_lbl" xml:lang="en-US">Price per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ParValuePerShare" xlink:to="ifrs-full_ParValuePerShare_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ParValuePerShare_lbl0" xml:lang="en-US">Par value per share (in New Shekels per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ParValuePerShare" xlink:to="ifrs-full_ParValuePerShare_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ProceedsFromPrivatePlacement" xlink:href="ello-20231231.xsd#ello_ProceedsFromPrivatePlacement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ProceedsFromPrivatePlacement_lbl" xml:lang="en-US">Proceeds from private placement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromPrivatePlacement" xlink:to="ello_ProceedsFromPrivatePlacement_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl" xml:lang="en-US">Number of share options exercised to ordinary shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement_lbl" xml:lang="en-US">Expires</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement" xlink:to="ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DateOfExpireOfShareBasedPaymentArrangement" xlink:href="ello-20231231.xsd#ello_DateOfExpireOfShareBasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DateOfExpireOfShareBasedPaymentArrangement_lbl" xml:lang="en-US">Original expiration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DateOfExpireOfShareBasedPaymentArrangement" xlink:to="ello_DateOfExpireOfShareBasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement" xlink:href="ello-20231231.xsd#ello_DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement_lbl" xml:lang="en-US">Current expiration date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement" xlink:to="ello_DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OrdinarySharesAvailableForFutureGrants" xlink:href="ello-20231231.xsd#ello_OrdinarySharesAvailableForFutureGrants"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OrdinarySharesAvailableForFutureGrants_lbl" xml:lang="en-US">Available for future grants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OrdinarySharesAvailableForFutureGrants" xlink:to="ello_OrdinarySharesAvailableForFutureGrants_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ShareBasedPaymentAwardOptionsContractualTerm" xlink:href="ello-20231231.xsd#ello_ShareBasedPaymentAwardOptionsContractualTerm"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ShareBasedPaymentAwardOptionsContractualTerm_lbl" xml:lang="en-US">Options vest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShareBasedPaymentAwardOptionsContractualTerm" xlink:to="ello_ShareBasedPaymentAwardOptionsContractualTerm_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfExercisePrice" xlink:href="ello-20231231.xsd#ello_PercentageOfExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfExercisePrice_lbl" xml:lang="en-US">Fair market value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfExercisePrice" xlink:to="ello_PercentageOfExercisePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_lbl" xml:lang="en-US">Weighted average remaining contractual life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" xlink:to="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RelevantTaxRate" xlink:href="ello-20231231.xsd#ello_RelevantTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RelevantTaxRate_lbl" xml:lang="en-US">Tax rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RelevantTaxRate" xlink:to="ello_RelevantTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfNetWealthTaxRate" xlink:href="ello-20231231.xsd#ello_PercentageOfNetWealthTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfNetWealthTaxRate_lbl" xml:lang="en-US">Percentage of net wealth tax rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfNetWealthTaxRate" xlink:to="ello_PercentageOfNetWealthTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AmountOfMinimumNetWealthTax" xlink:href="ello-20231231.xsd#ello_AmountOfMinimumNetWealthTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AmountOfMinimumNetWealthTax_lbl" xml:lang="en-US">Amount of net wealth tax (in Euro)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfMinimumNetWealthTax" xlink:to="ello_AmountOfMinimumNetWealthTax_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AmountOfMaximumNetWealthTax" xlink:href="ello-20231231.xsd#ello_AmountOfMaximumNetWealthTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AmountOfMaximumNetWealthTax_lbl" xml:lang="en-US">Amount of maximum net wealth tax (in Euro)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfMaximumNetWealthTax" xlink:to="ello_AmountOfMaximumNetWealthTax_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod_lbl" xml:lang="en-US">Tax rate reduced</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod" xlink:to="ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_MaximumPercentageOfDeductionInFinancingExpensesOfEbitda" xlink:href="ello-20231231.xsd#ello_MaximumPercentageOfDeductionInFinancingExpensesOfEbitda"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_MaximumPercentageOfDeductionInFinancingExpensesOfEbitda_lbl" xml:lang="en-US">Percentage of financing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MaximumPercentageOfDeductionInFinancingExpensesOfEbitda" xlink:to="ello_MaximumPercentageOfDeductionInFinancingExpensesOfEbitda_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss_lbl" xml:lang="en-US">Financial expenses (in Euro)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss" xlink:to="ifrs-full_ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense_lbl" xml:lang="en-US">Unrecognized tax benefits (in Euro)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense" xlink:to="ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercetageOfTaxableProfitsExceeding" xlink:href="ello-20231231.xsd#ello_PercetageOfTaxableProfitsExceeding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercetageOfTaxableProfitsExceeding_lbl" xml:lang="en-US">Percetage of taxable profits exceeding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercetageOfTaxableProfitsExceeding" xlink:to="ello_PercetageOfTaxableProfitsExceeding_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TaxLossCarryforwards" xlink:href="ello-20231231.xsd#ello_TaxLossCarryforwards"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TaxLossCarryforwards_lbl" xml:lang="en-US">Tax loss carryforwards (in Euro)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TaxLossCarryforwards" xlink:to="ello_TaxLossCarryforwards_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_weightedAverageNumberOfOrdinarySharesOptions" xlink:href="ello-20231231.xsd#ello_weightedAverageNumberOfOrdinarySharesOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_weightedAverageNumberOfOrdinarySharesOptions_lbl" xml:lang="en-US">Weighted average number of ordinary shares options and warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_weightedAverageNumberOfOrdinarySharesOptions" xlink:to="ello_weightedAverageNumberOfOrdinarySharesOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_GovernmentAuthorities" xlink:href="ello-20231231.xsd#ello_GovernmentAuthorities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_GovernmentAuthorities_lbl" xml:lang="en-US">Government authorities receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GovernmentAuthorities" xlink:to="ello_GovernmentAuthorities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_IncreaseDecreaseInWorkingCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseInWorkingCapital_lbl" xml:lang="en-US">Increase (decrease) in working capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:to="ifrs-full_IncreaseDecreaseInWorkingCapital_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfIncomeForProduction" xlink:href="ello-20231231.xsd#ello_PercentageOfIncomeForProduction"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfIncomeForProduction_lbl" xml:lang="en-US">Percentage of income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfIncomeForProduction" xlink:to="ello_PercentageOfIncomeForProduction_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DepositsFromBanks" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DepositsFromBanks"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepositsFromBanks_lbl" xml:lang="en-US">Deposit value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepositsFromBanks" xlink:to="ifrs-full_DepositsFromBanks_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PercentageOfSecurityFundMonthlyReduction" xlink:href="ello-20231231.xsd#ello_PercentageOfSecurityFundMonthlyReduction"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PercentageOfSecurityFundMonthlyReduction_lbl" xml:lang="en-US">Pecentage of reducing fund</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfSecurityFundMonthlyReduction" xlink:to="ello_PercentageOfSecurityFundMonthlyReduction_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SecurityFundAmount" xlink:href="ello-20231231.xsd#ello_SecurityFundAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SecurityFundAmount_lbl" xml:lang="en-US">Security fund amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SecurityFundAmount" xlink:to="ello_SecurityFundAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PecentageOfIndirectInterest" xlink:href="ello-20231231.xsd#ello_PecentageOfIndirectInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PecentageOfIndirectInterest_lbl" xml:lang="en-US">Pecentage of indirect interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PecentageOfIndirectInterest" xlink:to="ello_PecentageOfIndirectInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AdditionalPotentialPayment" xlink:href="ello-20231231.xsd#ello_AdditionalPotentialPayment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AdditionalPotentialPayment_lbl" xml:lang="en-US">Additional potential payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdditionalPotentialPayment" xlink:to="ello_AdditionalPotentialPayment_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RenewableEnergyProduced" xlink:href="ello-20231231.xsd#ello_RenewableEnergyProduced"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_RenewableEnergyProduced_lbl" xml:lang="en-US">Energy produced (in Kilowatt-hours)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RenewableEnergyProduced" xlink:to="ello_RenewableEnergyProduced_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CustomaryException" xlink:href="ello-20231231.xsd#ello_CustomaryException"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CustomaryException_lbl" xml:lang="en-US">Customary exception</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CustomaryException" xlink:to="ello_CustomaryException_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OtherAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherAssets_lbl" xml:lang="en-US">Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherAssets" xlink:to="ifrs-full_OtherAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ImpairmentLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ImpairmentLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ImpairmentLoss_lbl" xml:lang="en-US">Impairment loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLoss" xlink:to="ifrs-full_ImpairmentLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AggregateAmount" xlink:href="ello-20231231.xsd#ello_AggregateAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AggregateAmount_lbl" xml:lang="en-US">Aggregate amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateAmount" xlink:to="ello_AggregateAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ShareIssueRelatedCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ShareIssueRelatedCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShareIssueRelatedCost_lbl" xml:lang="en-US">Share issue related cost (in Euro)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareIssueRelatedCost" xlink:to="ifrs-full_ShareIssueRelatedCost_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PrincipalPaymentPercentage" xlink:href="ello-20231231.xsd#ello_PrincipalPaymentPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PrincipalPaymentPercentage_lbl" xml:lang="en-US">Pricipal payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PrincipalPaymentPercentage" xlink:to="ello_PrincipalPaymentPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DebenturesFixedInterestRate" xlink:href="ello-20231231.xsd#ello_DebenturesFixedInterestRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DebenturesFixedInterestRate_lbl" xml:lang="en-US">Debentures Fixed Interest Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesFixedInterestRate" xlink:to="ello_DebenturesFixedInterestRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AggregateGrossConsiderationPricePerShare" xlink:href="ello-20231231.xsd#ello_AggregateGrossConsiderationPricePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AggregateGrossConsiderationPricePerShare_lbl" xml:lang="en-US">Aggregate gross consideration price per share (in New Shekels per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateGrossConsiderationPricePerShare" xlink:to="ello_AggregateGrossConsiderationPricePerShare_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PrincipalAmount" xlink:href="ello-20231231.xsd#ello_PrincipalAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PrincipalAmount_lbl" xml:lang="en-US">Principal amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PrincipalAmount" xlink:to="ello_PrincipalAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements" xlink:href="ello-20231231.xsd#ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements_lbl" xml:lang="en-US">Basis of consolidation and equity method accounting</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements" xlink:to="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory_lbl" xml:lang="en-US">Foreign currency</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl" xml:lang="en-US">Fixed assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory_lbl" xml:lang="en-US">Impairment for non-financial assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory_lbl" xml:lang="en-US">Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl" xml:lang="en-US">Revenue recognition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForServiceConcessionArrangementsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfAccountingPolicyForServiceConcessionArrangementsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForServiceConcessionArrangementsExplanatory_lbl" xml:lang="en-US">Service concession arrangements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForServiceConcessionArrangementsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForServiceConcessionArrangementsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory_lbl" xml:lang="en-US">Discontinued operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory" xlink:href="ello-20231231.xsd#ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory_lbl" xml:lang="en-US">New standards, amendments to standards and interpretations not yet adopted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory" xlink:to="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TalasolSolarSLUMember" xlink:href="ello-20231231.xsd#ello_TalasolSolarSLUMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TalasolSolarSLUMember_lbl" xml:lang="en-US">Talasol Solar S.L.U [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolSolarSLUMember" xlink:to="ello_TalasolSolarSLUMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DoradEnergyLtdMember" xlink:href="ello-20231231.xsd#ello_DoradEnergyLtdMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DoradEnergyLtdMember_lbl" xml:lang="en-US">Dorad Energy Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoradEnergyLtdMember" xlink:to="ello_DoradEnergyLtdMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_GroenGasGoorBVMember" xlink:href="ello-20231231.xsd#ello_GroenGasGoorBVMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_GroenGasGoorBVMember_lbl" xml:lang="en-US">Groen Gas Goor B.V. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GroenGasGoorBVMember" xlink:to="ello_GroenGasGoorBVMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_GroenGasOudeTongeBVMember" xlink:href="ello-20231231.xsd#ello_GroenGasOudeTongeBVMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_GroenGasOudeTongeBVMember_lbl" xml:lang="en-US">Groen Gas Oude-Tonge B.V. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GroenGasOudeTongeBVMember" xlink:to="ello_GroenGasOudeTongeBVMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_GroenGasOudeTongeBVMember_lbl0" xml:lang="en-US">Groen Gas Oude-Tonge [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GroenGasOudeTongeBVMember" xlink:to="ello_GroenGasOudeTongeBVMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_GroenGasGelderlAndBvMember" xlink:href="ello-20231231.xsd#ello_GroenGasGelderlAndBvMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_GroenGasGelderlAndBvMember_lbl" xml:lang="en-US">Groen Gas Gelderland B.V. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GroenGasGelderlAndBvMember" xlink:to="ello_GroenGasGelderlAndBvMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_GroenGasGelderlAndBvMember_lbl0" xml:lang="en-US">Groen Gas Gelderl And Bv Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GroenGasGelderlAndBvMember" xlink:to="ello_GroenGasGelderlAndBvMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ManaraPSPMember" xlink:href="ello-20231231.xsd#ello_ManaraPSPMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ManaraPSPMember_lbl" xml:lang="en-US">Manara PSP [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ManaraPSPMember" xlink:to="ello_ManaraPSPMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ChangeInClassificationMember" xlink:href="ello-20231231.xsd#ello_ChangeInClassificationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ChangeInClassificationMember_lbl" xml:lang="en-US">Change in classification [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ChangeInClassificationMember" xlink:to="ello_ChangeInClassificationMember_lbl"/>
    <loc xlink:type="locator" xlink:label="currency_EUR" xlink:href="https://xbrl.sec.gov/currency/2023/currency-2023.xsd#currency_EUR"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="currency_EUR_lbl" xml:lang="en-US">Euro Member Countries, Euro</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_EUR" xlink:to="currency_EUR_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_UDoriEnergyInfrastructuresLtdMember" xlink:href="ello-20231231.xsd#ello_UDoriEnergyInfrastructuresLtdMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_UDoriEnergyInfrastructuresLtdMember_lbl" xml:lang="en-US">U. Dori Energy Infrastructures Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UDoriEnergyInfrastructuresLtdMember" xlink:to="ello_UDoriEnergyInfrastructuresLtdMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EllomayLuxembourgMember" xlink:href="ello-20231231.xsd#ello_EllomayLuxembourgMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EllomayLuxembourgMember_lbl" xml:lang="en-US">Ellomay Luxembourg [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomayLuxembourgMember" xlink:to="ello_EllomayLuxembourgMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DoradMember" xlink:href="ello-20231231.xsd#ello_DoradMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DoradMember_lbl" xml:lang="en-US">Dorad [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoradMember" xlink:to="ello_DoradMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ZorluEnerjiElektrikUretimASMember" xlink:href="ello-20231231.xsd#ello_ZorluEnerjiElektrikUretimASMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ZorluEnerjiElektrikUretimASMember_lbl" xml:lang="en-US">Zorlu Enerji Elektrik Uretim A.S [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ZorluEnerjiElektrikUretimASMember" xlink:to="ello_ZorluEnerjiElektrikUretimASMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LuzonGroupMember" xlink:href="ello-20231231.xsd#ello_LuzonGroupMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_LuzonGroupMember_lbl" xml:lang="en-US">Luzon Group [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LuzonGroupMember" xlink:to="ello_LuzonGroupMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EilatAshkelonInfrastructureServicesLtdMember" xlink:href="ello-20231231.xsd#ello_EilatAshkelonInfrastructureServicesLtdMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EilatAshkelonInfrastructureServicesLtdMember_lbl" xml:lang="en-US">Eilat Ashkelon Infrastructure Services Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EilatAshkelonInfrastructureServicesLtdMember" xlink:to="ello_EilatAshkelonInfrastructureServicesLtdMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EdelcomLtdMember" xlink:href="ello-20231231.xsd#ello_EdelcomLtdMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EdelcomLtdMember_lbl" xml:lang="en-US">Edelcom Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EdelcomLtdMember" xlink:to="ello_EdelcomLtdMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EllomayPumpedStorageMember" xlink:href="ello-20231231.xsd#ello_EllomayPumpedStorageMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EllomayPumpedStorageMember_lbl" xml:lang="en-US">Ellomay Pumped Storage [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomayPumpedStorageMember" xlink:to="ello_EllomayPumpedStorageMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AmpaLtdMember" xlink:href="ello-20231231.xsd#ello_AmpaLtdMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_AmpaLtdMember_lbl" xml:lang="en-US">Ampa Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmpaLtdMember" xlink:to="ello_AmpaLtdMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EllomayPSMember" xlink:href="ello-20231231.xsd#ello_EllomayPSMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EllomayPSMember_lbl" xml:lang="en-US">Ellomay PS [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomayPSMember" xlink:to="ello_EllomayPSMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ManaraPspEpcAgreementMember" xlink:href="ello-20231231.xsd#ello_ManaraPspEpcAgreementMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ManaraPspEpcAgreementMember_lbl" xml:lang="en-US">Manara Psp Epc Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ManaraPspEpcAgreementMember" xlink:to="ello_ManaraPspEpcAgreementMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ElectraInfrastructureLtdMember" xlink:href="ello-20231231.xsd#ello_ElectraInfrastructureLtdMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ElectraInfrastructureLtdMember_lbl" xml:lang="en-US">Electra Infrastructure Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ElectraInfrastructureLtdMember" xlink:to="ello_ElectraInfrastructureLtdMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_GroenGasGelderlandBVMember" xlink:href="ello-20231231.xsd#ello_GroenGasGelderlandBVMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_GroenGasGelderlandBVMember_lbl" xml:lang="en-US">Groen Gas Gelderland B.V [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GroenGasGelderlandBVMember" xlink:to="ello_GroenGasGelderlandBVMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TalasolSPAMember" xlink:href="ello-20231231.xsd#ello_TalasolSPAMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TalasolSPAMember_lbl" xml:lang="en-US">Talasol S P A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolSPAMember" xlink:to="ello_TalasolSPAMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EllomaySolarProjectMember" xlink:href="ello-20231231.xsd#ello_EllomaySolarProjectMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_EllomaySolarProjectMember_lbl" xml:lang="en-US">Ellomay Solar Project [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomaySolarProjectMember" xlink:to="ello_EllomaySolarProjectMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SubsidiariesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SubsidiariesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SubsidiariesMember_lbl" xml:lang="en-US">Subsidiaries [Member]</label>
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    <loc xlink:type="locator" xlink:label="ello_ManaraProjectMember" xlink:href="ello-20231231.xsd#ello_ManaraProjectMember"/>
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    <loc xlink:type="locator" xlink:label="ello_OfficeSpaceMember" xlink:href="ello-20231231.xsd#ello_OfficeSpaceMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_OfficeSpaceMember_lbl" xml:lang="en-US">Office Space [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OfficeSpaceMember" xlink:to="ello_OfficeSpaceMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_KanirAndMeisafMember" xlink:href="ello-20231231.xsd#ello_KanirAndMeisafMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_KanirAndMeisafMember_lbl" xml:lang="en-US">Kanir and Meisaf [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_KanirAndMeisafMember" xlink:to="ello_KanirAndMeisafMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_KanirAndKeystoneRPHoldingsAndInvestmentsLtdMember" xlink:href="ello-20231231.xsd#ello_KanirAndKeystoneRPHoldingsAndInvestmentsLtdMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_KanirAndKeystoneRPHoldingsAndInvestmentsLtdMember_lbl" xml:lang="en-US">Kanir And Keystone R P Holdings And Investments Ltd Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_KanirAndKeystoneRPHoldingsAndInvestmentsLtdMember" xlink:to="ello_KanirAndKeystoneRPHoldingsAndInvestmentsLtdMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_KanirMember" xlink:href="ello-20231231.xsd#ello_KanirMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_KanirMember_lbl" xml:lang="en-US">Kanir [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_KanirMember" xlink:to="ello_KanirMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_KeystoneMember" xlink:href="ello-20231231.xsd#ello_KeystoneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_KeystoneMember_lbl" xml:lang="en-US">Keystone [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_KeystoneMember" xlink:to="ello_KeystoneMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OrdinarySharesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_OrdinarySharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OrdinarySharesMember_lbl" xml:lang="en-US">Ordinarty Shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OrdinarySharesMember" xlink:to="ifrs-full_OrdinarySharesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SeriesOneOptionssMember" xlink:href="ello-20231231.xsd#ello_SeriesOneOptionssMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SeriesOneOptionssMember_lbl" xml:lang="en-US">Series One Options [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeriesOneOptionssMember" xlink:to="ello_SeriesOneOptionssMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_BoardMemberAndEmployeesMember" xlink:href="ello-20231231.xsd#ello_BoardMemberAndEmployeesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_BoardMemberAndEmployeesMember_lbl" xml:lang="en-US">Board and Employee [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BoardMemberAndEmployeesMember" xlink:to="ello_BoardMemberAndEmployeesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_Plan1998Member" xlink:href="ello-20231231.xsd#ello_Plan1998Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_Plan1998Member_lbl" xml:lang="en-US">Plan 1998 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_Plan1998Member" xlink:to="ello_Plan1998Member_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_Plan2000Member" xlink:href="ello-20231231.xsd#ello_Plan2000Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_Plan2000Member_lbl" xml:lang="en-US">Plan 2000 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_Plan2000Member" xlink:to="ello_Plan2000Member_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CorporateIncomeTaxMember" xlink:href="ello-20231231.xsd#ello_CorporateIncomeTaxMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CorporateIncomeTaxMember_lbl" xml:lang="en-US">Corporate Income Tax [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CorporateIncomeTaxMember" xlink:to="ello_CorporateIncomeTaxMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ItalianTaxationMember" xlink:href="ello-20231231.xsd#ello_ItalianTaxationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ItalianTaxationMember_lbl" xml:lang="en-US">Italian taxation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ItalianTaxationMember" xlink:to="ello_ItalianTaxationMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ResidentAndNonResidentMember" xlink:href="ello-20231231.xsd#ello_ResidentAndNonResidentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ResidentAndNonResidentMember_lbl" xml:lang="en-US">Resident and Non-Resident [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ResidentAndNonResidentMember" xlink:to="ello_ResidentAndNonResidentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SpainshTaxationMember" xlink:href="ello-20231231.xsd#ello_SpainshTaxationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SpainshTaxationMember_lbl" xml:lang="en-US">Spainsh Taxation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SpainshTaxationMember" xlink:to="ello_SpainshTaxationMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TheNetherlandsTaxationMember" xlink:href="ello-20231231.xsd#ello_TheNetherlandsTaxationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TheNetherlandsTaxationMember_lbl" xml:lang="en-US">The Netherlands Taxation Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TheNetherlandsTaxationMember" xlink:to="ello_TheNetherlandsTaxationMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DutchSubsidiariesMember" xlink:href="ello-20231231.xsd#ello_DutchSubsidiariesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_DutchSubsidiariesMember_lbl" xml:lang="en-US">Dutch Subsidiaries [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DutchSubsidiariesMember" xlink:to="ello_DutchSubsidiariesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_YearOneMember" xlink:href="ello-20231231.xsd#ello_YearOneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_YearOneMember_lbl" xml:lang="en-US">Year One [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_YearOneMember" xlink:to="ello_YearOneMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_YearTwoMember" xlink:href="ello-20231231.xsd#ello_YearTwoMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_YearTwoMember_lbl" xml:lang="en-US">Year Two [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_YearTwoMember" xlink:to="ello_YearTwoMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_YearThreeMember" xlink:href="ello-20231231.xsd#ello_YearThreeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_YearThreeMember_lbl" xml:lang="en-US">Year Three [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_YearThreeMember" xlink:to="ello_YearThreeMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_PumpedStorageHydroPowerPlantMember" xlink:href="ello-20231231.xsd#ello_PumpedStorageHydroPowerPlantMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_PumpedStorageHydroPowerPlantMember_lbl" xml:lang="en-US">Pumped Storage Hydro Power Plant Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PumpedStorageHydroPowerPlantMember" xlink:to="ello_PumpedStorageHydroPowerPlantMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TalmeiYosefSaleAgreementMember" xlink:href="ello-20231231.xsd#ello_TalmeiYosefSaleAgreementMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_TalmeiYosefSaleAgreementMember_lbl" xml:lang="en-US">Talmei Yosef Sale Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalmeiYosefSaleAgreementMember" xlink:to="ello_TalmeiYosefSaleAgreementMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisposalOfMajorSubsidiaryMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisposalOfMajorSubsidiaryMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisposalOfMajorSubsidiaryMember_lbl" xml:lang="en-US">Disposal of major subsidiary [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisposalOfMajorSubsidiaryMember" xlink:to="ifrs-full_DisposalOfMajorSubsidiaryMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SeriesESecuredDebenturesMember" xlink:href="ello-20231231.xsd#ello_SeriesESecuredDebenturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SeriesESecuredDebenturesMember_lbl" xml:lang="en-US">Series E Secured Debentures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeriesESecuredDebenturesMember" xlink:to="ello_SeriesESecuredDebenturesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ForecastMember" xlink:href="ello-20231231.xsd#ello_ForecastMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_ForecastMember_lbl" xml:lang="en-US">Forecast [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ForecastMember" xlink:to="ello_ForecastMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SeriesFDebenturesMember" xlink:href="ello-20231231.xsd#ello_SeriesFDebenturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_SeriesFDebenturesMember_lbl" xml:lang="en-US">Series F Debentures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeriesFDebenturesMember" xlink:to="ello_SeriesFDebenturesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US">Statement [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US">Consolidated Statements of Profit or Loss and Other Comprehensive Income Loss [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EquityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityMember_lbl" xml:lang="en-US">Equity [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityMember" xlink:to="ifrs-full_EquityMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_StatementOfChangesInEquityTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_StatementOfChangesInEquityTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfChangesInEquityTable_lbl" xml:lang="en-US">Statement of changes in equity [table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityTable" xlink:to="ifrs-full_StatementOfChangesInEquityTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_StatementOfChangesInEquityLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems_lbl" xml:lang="en-US">Statement of changes in equity [line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityLineItems" xlink:to="ifrs-full_StatementOfChangesInEquityLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CashandCashEquivalentsTable" xlink:href="ello-20231231.xsd#ello_CashandCashEquivalentsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CashandCashEquivalentsTable_lbl" xml:lang="en-US">Cash and Cash Equivalents [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CashandCashEquivalentsTable" xlink:to="ello_CashandCashEquivalentsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CashandCashEquivalentsLineItems" xlink:href="ello-20231231.xsd#ello_CashandCashEquivalentsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CashandCashEquivalentsLineItems_lbl" xml:lang="en-US">Cash and Cash Equivalents [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CashandCashEquivalentsLineItems" xlink:to="ello_CashandCashEquivalentsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CashandCashEquivalentsTablesTable" xlink:href="ello-20231231.xsd#ello_CashandCashEquivalentsTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CashandCashEquivalentsTablesTable_lbl" xml:lang="en-US">Cash and Cash Equivalents (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CashandCashEquivalentsTablesTable" xlink:to="ello_CashandCashEquivalentsTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CashandCashEquivalentsTablesLineItems" xlink:href="ello-20231231.xsd#ello_CashandCashEquivalentsTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ello_CashandCashEquivalentsTablesLineItems_lbl" xml:lang="en-US">Cash and Cash Equivalents [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CashandCashEquivalentsTablesLineItems" xlink:to="ello_CashandCashEquivalentsTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_PropertyPlantAndEquipmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember_lbl" xml:lang="en-US">Property, plant and equipment [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="ifrs-full_PropertyPlantAndEquipmentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RangesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_RangesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RangesMember_lbl" xml:lang="en-US">Ranges [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangesMember" xlink:to="ifrs-full_RangesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesTable" xlink:href="ello-20231231.xsd#ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesTable_lbl" xml:lang="en-US">Material Accounting Policies (Details) - Schedule of Estimated Useful Lives [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesTable" xlink:to="ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesLineItems" xlink:href="ello-20231231.xsd#ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesLineItems_lbl" xml:lang="en-US">Material Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesLineItems" xlink:to="ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfAssetsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ClassesOfAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfAssetsMember_lbl" xml:lang="en-US">Assets [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ifrs-full_ClassesOfAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_RestrictedCashDepositsandMarketableSecuritiesDetailsScheduleofRestrictedCashTable" xlink:href="ello-20231231.xsd#ello_RestrictedCashDepositsandMarketableSecuritiesDetailsScheduleofRestrictedCashTable"/>
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    <loc xlink:type="locator" xlink:label="ello_InvesteeCompaniesandotherinvestmentsDetailsScheduleofInformationonOperatingResultsTable" xlink:href="ello-20231231.xsd#ello_InvesteeCompaniesandotherinvestmentsDetailsScheduleofInformationonOperatingResultsTable"/>
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    <loc xlink:type="locator" xlink:label="ello_InvesteeCompaniesandotherinvestmentsDetailsScheduleofCompositionofAdvancesonAccountofInvestmentsTable" xlink:href="ello-20231231.xsd#ello_InvesteeCompaniesandotherinvestmentsDetailsScheduleofCompositionofAdvancesonAccountofInvestmentsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_InvesteeCompaniesandotherinvestmentsDetailsScheduleofCompositionofAdvancesonAccountofInvestmentsTable_lbl" xml:lang="en-US">Investee Companies and other investments (Details) - Schedule of Composition of Advances on Account of Investments [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InvesteeCompaniesandotherinvestmentsDetailsScheduleofCompositionofAdvancesonAccountofInvestmentsTable" xlink:to="ello_InvesteeCompaniesandotherinvestmentsDetailsScheduleofCompositionofAdvancesonAccountofInvestmentsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_InvesteeCompaniesandotherinvestmentsDetailsScheduleofCompositionofAdvancesonAccountofInvestmentsLineItems" xlink:href="ello-20231231.xsd#ello_InvesteeCompaniesandotherinvestmentsDetailsScheduleofCompositionofAdvancesonAccountofInvestmentsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_InvesteeCompaniesandotherinvestmentsDetailsScheduleofCompositionofAdvancesonAccountofInvestmentsLineItems_lbl" xml:lang="en-US">Investee Companies and other investments (Details) - Schedule of Composition of Advances on Account of Investments [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InvesteeCompaniesandotherinvestmentsDetailsScheduleofCompositionofAdvancesonAccountofInvestmentsLineItems" xlink:to="ello_InvesteeCompaniesandotherinvestmentsDetailsScheduleofCompositionofAdvancesonAccountofInvestmentsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfCurrentAssetsTradeAndOtherReceivablesTable" xlink:href="ello-20231231.xsd#ello_ScheduleOfCurrentAssetsTradeAndOtherReceivablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfCurrentAssetsTradeAndOtherReceivablesTable_lbl" xml:lang="en-US">Schedule of Current Assets - Trade and Other receivables [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfCurrentAssetsTradeAndOtherReceivablesTable" xlink:to="ello_ScheduleOfCurrentAssetsTradeAndOtherReceivablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfCurrentAssetsTradeAndOtherReceivablesLineItems" xlink:href="ello-20231231.xsd#ello_ScheduleOfCurrentAssetsTradeAndOtherReceivablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfCurrentAssetsTradeAndOtherReceivablesLineItems_lbl" xml:lang="en-US">Schedule of Current Assets - Trade and Other receivables [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfCurrentAssetsTradeAndOtherReceivablesLineItems" xlink:to="ello_ScheduleOfCurrentAssetsTradeAndOtherReceivablesLineItems_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CarryingAmountMember_lbl1" xml:lang="en-US">Carrying amount [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountMember" xlink:to="ifrs-full_CarryingAmountMember_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_FixedAssetsDetailsScheduleofFixedAssetsTable" xlink:href="ello-20231231.xsd#ello_FixedAssetsDetailsScheduleofFixedAssetsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FixedAssetsDetailsScheduleofFixedAssetsTable_lbl" xml:lang="en-US">Fixed Assets (Details) - Schedule of Fixed Assets [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAssetsDetailsScheduleofFixedAssetsTable" xlink:to="ello_FixedAssetsDetailsScheduleofFixedAssetsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_FixedAssetsDetailsScheduleofFixedAssetsLineItems" xlink:href="ello-20231231.xsd#ello_FixedAssetsDetailsScheduleofFixedAssetsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FixedAssetsDetailsScheduleofFixedAssetsLineItems_lbl" xml:lang="en-US">Fixed Assets (Details) - Schedule of Fixed Assets [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAssetsDetailsScheduleofFixedAssetsLineItems" xlink:to="ello_FixedAssetsDetailsScheduleofFixedAssetsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsTable" xlink:href="ello-20231231.xsd#ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsTable_lbl" xml:lang="en-US">Fixed Assets (Details) - Schedule of Investments in Photovoltaic Plants [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsTable" xlink:to="ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems" xlink:href="ello-20231231.xsd#ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems_lbl" xml:lang="en-US">Schedule of Investments in Photovoltaic Plants [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems" xlink:to="ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BorrowingsByNameMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_BorrowingsByNameMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsByNameMember_lbl" xml:lang="en-US">Borrowings by name [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsByNameMember" xlink:to="ifrs-full_BorrowingsByNameMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansTable" xlink:href="ello-20231231.xsd#ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansTable_lbl" xml:lang="en-US">Current maturities and short term bank loans (Details) - Schedule of Current Maturities and Short Term Bank Loans [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansTable" xlink:to="ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansLineItems" xlink:href="ello-20231231.xsd#ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansLineItems_lbl" xml:lang="en-US">Current maturities and short term bank loans (Details) - Schedule of Current Maturities and Short Term Bank Loans [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansLineItems" xlink:to="ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ClassesOfFinancialInstrumentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember_lbl" xml:lang="en-US">Financial instruments, class [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestRateTypesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_InterestRateTypesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestRateTypesMember_lbl" xml:lang="en-US">Interest rate types [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestRateTypesMember" xlink:to="ifrs-full_InterestRateTypesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfComposedAsFollowsTable" xlink:href="ello-20231231.xsd#ello_ScheduleOfComposedAsFollowsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfComposedAsFollowsTable_lbl" xml:lang="en-US">Schedule of Composed as Follows: [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfComposedAsFollowsTable" xlink:to="ello_ScheduleOfComposedAsFollowsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfComposedAsFollowsLineItems" xlink:href="ello-20231231.xsd#ello_ScheduleOfComposedAsFollowsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfComposedAsFollowsLineItems_lbl" xml:lang="en-US">Schedule of Composed as Follows: [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfComposedAsFollowsLineItems" xlink:to="ello_ScheduleOfComposedAsFollowsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AggregatedTimeBandsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_AggregatedTimeBandsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AggregatedTimeBandsMember_lbl" xml:lang="en-US">Aggregated time bands [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_AggregatedTimeBandsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfAggregateAnnualMaturitiesTable" xlink:href="ello-20231231.xsd#ello_ScheduleOfAggregateAnnualMaturitiesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfAggregateAnnualMaturitiesTable_lbl" xml:lang="en-US">Schedule of Aggregate Annual Maturities [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfAggregateAnnualMaturitiesTable" xlink:to="ello_ScheduleOfAggregateAnnualMaturitiesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfAggregateAnnualMaturitiesLineItems" xlink:href="ello-20231231.xsd#ello_ScheduleOfAggregateAnnualMaturitiesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfAggregateAnnualMaturitiesLineItems_lbl" xml:lang="en-US">Schedule of Aggregate Annual Maturities [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfAggregateAnnualMaturitiesLineItems" xlink:to="ello_ScheduleOfAggregateAnnualMaturitiesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesTable" xlink:href="ello-20231231.xsd#ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesTable_lbl" xml:lang="en-US">Schedule of Movement in Liabilities Deriving from Financing Activities [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesTable" xlink:to="ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesLineItems" xlink:href="ello-20231231.xsd#ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesLineItems_lbl" xml:lang="en-US">Schedule of Movement in Liabilities Deriving from Financing Activities [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesLineItems" xlink:to="ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialLiabilitiesTypeMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_FinancialLiabilitiesTypeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilitiesTypeMember_lbl" xml:lang="en-US">Financial liabilities, type [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesTypeMember" xlink:to="ifrs-full_FinancialLiabilitiesTypeMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DebenturesDetailsScheduleofDebenturesTable" xlink:href="ello-20231231.xsd#ello_DebenturesDetailsScheduleofDebenturesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DebenturesDetailsScheduleofDebenturesTable_lbl" xml:lang="en-US">Debentures (Details) - Schedule of Debentures [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesDetailsScheduleofDebenturesTable" xlink:to="ello_DebenturesDetailsScheduleofDebenturesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DebenturesDetailsScheduleofDebenturesLineItems" xlink:href="ello-20231231.xsd#ello_DebenturesDetailsScheduleofDebenturesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DebenturesDetailsScheduleofDebenturesLineItems_lbl" xml:lang="en-US">Schedule of Debentures [Line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesDetailsScheduleofDebenturesLineItems" xlink:to="ello_DebenturesDetailsScheduleofDebenturesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesTable" xlink:href="ello-20231231.xsd#ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesTable_lbl" xml:lang="en-US">Debentures (Details) - Schedule of Aggregate Annual Maturities [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesTable" xlink:to="ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesLineItems" xlink:href="ello-20231231.xsd#ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesLineItems_lbl" xml:lang="en-US">Schedule of Aggregate Annual Maturities [Line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesLineItems" xlink:to="ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesLineItems_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OperatingSegmentsDetailsScheduleofFixedAssetsNetLineItems" xlink:to="ello_OperatingSegmentsDetailsScheduleofFixedAssetsNetLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleTable" xlink:href="ello-20231231.xsd#ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleTable_lbl" xml:lang="en-US">Discontinued operation and Disposal Groups Held for Sale (Details) - Schedule of Assets of Disposal Groups Classified as Held for Sale [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleTable" xlink:to="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleLineItems" xlink:href="ello-20231231.xsd#ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleLineItems_lbl" xml:lang="en-US">Discontinued operation and Disposal Groups Held for Sale (Details) - Schedule of Assets of Disposal Groups Classified as Held for Sale [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleLineItems" xlink:to="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleTable" xlink:href="ello-20231231.xsd#ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleTable_lbl" xml:lang="en-US">Discontinued operation and Disposal Groups Held for Sale (Details) - Schedule of Disposal Groups Classified as Held for Sale [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleTable" xlink:to="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleLineItems" xlink:href="ello-20231231.xsd#ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleLineItems_lbl" xml:lang="en-US">Schedule of Disposal Groups Classified as Held for Sale [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleLineItems" xlink:to="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofResultsAttributabletoDiscontinuedOperationTable" xlink:href="ello-20231231.xsd#ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofResultsAttributabletoDiscontinuedOperationTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofResultsAttributabletoDiscontinuedOperationTable_lbl" xml:lang="en-US">Discontinued operation and Disposal Groups Held for Sale (Details) - Schedule of Results Attributable to Discontinued Operation [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofResultsAttributabletoDiscontinuedOperationTable" xlink:to="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofResultsAttributabletoDiscontinuedOperationTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofResultsAttributabletoDiscontinuedOperationLineItems" xlink:href="ello-20231231.xsd#ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofResultsAttributabletoDiscontinuedOperationLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofResultsAttributabletoDiscontinuedOperationLineItems_lbl" xml:lang="en-US">Discontinued operation and Disposal Groups Held for Sale (Details) - Schedule of Results Attributable to Discontinued Operation [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofResultsAttributabletoDiscontinuedOperationLineItems" xlink:to="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofResultsAttributabletoDiscontinuedOperationLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_NonadjustingEventsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NonadjustingEventsMember_lbl" xml:lang="en-US">Non-adjusting events after reporting period [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ifrs-full_NonadjustingEventsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_GeneralDetailsTable" xlink:href="ello-20231231.xsd#ello_GeneralDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_GeneralDetailsTable_lbl" xml:lang="en-US">General (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GeneralDetailsTable" xlink:to="ello_GeneralDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_GeneralDetailsLineItems" xlink:href="ello-20231231.xsd#ello_GeneralDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_GeneralDetailsLineItems_lbl" xml:lang="en-US">General (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GeneralDetailsLineItems" xlink:to="ello_GeneralDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_BasisofPreparationDetailsTable" xlink:href="ello-20231231.xsd#ello_BasisofPreparationDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_BasisofPreparationDetailsTable_lbl" xml:lang="en-US">Basis of Preparation (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BasisofPreparationDetailsTable" xlink:to="ello_BasisofPreparationDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_BasisofPreparationDetailsLineItems" xlink:href="ello-20231231.xsd#ello_BasisofPreparationDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_BasisofPreparationDetailsLineItems_lbl" xml:lang="en-US">Basis of Preparation (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BasisofPreparationDetailsLineItems" xlink:to="ello_BasisofPreparationDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_MaterialAccountingPoliciesDetailsTable" xlink:href="ello-20231231.xsd#ello_MaterialAccountingPoliciesDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_MaterialAccountingPoliciesDetailsTable_lbl" xml:lang="en-US">Material Accounting Policies (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MaterialAccountingPoliciesDetailsTable" xlink:to="ello_MaterialAccountingPoliciesDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_MaterialAccountingPoliciesDetailsLineItems" xlink:href="ello-20231231.xsd#ello_MaterialAccountingPoliciesDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_MaterialAccountingPoliciesDetailsLineItems_lbl" xml:lang="en-US">Material Accounting Policies (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MaterialAccountingPoliciesDetailsLineItems" xlink:to="ello_MaterialAccountingPoliciesDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AgreementDomainDomain" xlink:href="ello-20231231.xsd#ello_AgreementDomainDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AgreementDomainDomain_lbl" xml:lang="en-US">AgreementDomain [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AgreementDomainDomain" xlink:to="ello_AgreementDomainDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_EntitysTotalForSubsidiariesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember_lbl" xml:lang="en-US">Entity&apos;s total for subsidiaries [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_InvesteeCompaniesandotherinvestmentsDetailsTable" xlink:href="ello-20231231.xsd#ello_InvesteeCompaniesandotherinvestmentsDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_InvesteeCompaniesandotherinvestmentsDetailsTable_lbl" xml:lang="en-US">Investee Companies and other investments (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InvesteeCompaniesandotherinvestmentsDetailsTable" xlink:to="ello_InvesteeCompaniesandotherinvestmentsDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems" xlink:href="ello-20231231.xsd#ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems_lbl" xml:lang="en-US">Investee Companies and Other Investments [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems" xlink:to="ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_FixedAssetsDetailsTable" xlink:href="ello-20231231.xsd#ello_FixedAssetsDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FixedAssetsDetailsTable_lbl" xml:lang="en-US">Fixed Assets (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAssetsDetailsTable" xlink:to="ello_FixedAssetsDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_FixedAssetsDetailsLineItems" xlink:href="ello-20231231.xsd#ello_FixedAssetsDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FixedAssetsDetailsLineItems_lbl" xml:lang="en-US">Fixed Assets (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAssetsDetailsLineItems" xlink:to="ello_FixedAssetsDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoansDetailsPart1Table" xlink:href="ello-20231231.xsd#ello_LoansDetailsPart1Table"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoansDetailsPart1Table_lbl" xml:lang="en-US">Loans (Details) - Part-1 [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansDetailsPart1Table" xlink:to="ello_LoansDetailsPart1Table_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoansDetailsPart1LineItems" xlink:href="ello-20231231.xsd#ello_LoansDetailsPart1LineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoansDetailsPart1LineItems_lbl" xml:lang="en-US">Loans (Details) - Part-1 [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansDetailsPart1LineItems" xlink:to="ello_LoansDetailsPart1LineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TransactionDomainDomain" xlink:href="ello-20231231.xsd#ello_TransactionDomainDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TransactionDomainDomain_lbl" xml:lang="en-US">TransactionDomain [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionDomainDomain" xlink:to="ello_TransactionDomainDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoansDetailsPart2Table" xlink:href="ello-20231231.xsd#ello_LoansDetailsPart2Table"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoansDetailsPart2Table_lbl" xml:lang="en-US">Loans (Details) - Part-2 [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansDetailsPart2Table" xlink:to="ello_LoansDetailsPart2Table_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoansDetailsPart2LineItems" xlink:href="ello-20231231.xsd#ello_LoansDetailsPart2LineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoansDetailsPart2LineItems_lbl" xml:lang="en-US">Loans (Details) - Part-2 [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansDetailsPart2LineItems" xlink:to="ello_LoansDetailsPart2LineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoansDetailsPart3Table" xlink:href="ello-20231231.xsd#ello_LoansDetailsPart3Table"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoansDetailsPart3Table_lbl" xml:lang="en-US">Loans (Details) - Part-3 [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansDetailsPart3Table" xlink:to="ello_LoansDetailsPart3Table_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LoansDetailsPart3LineItems" xlink:href="ello-20231231.xsd#ello_LoansDetailsPart3LineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoansDetailsPart3LineItems_lbl" xml:lang="en-US">Loans (Details) - Part-3 [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansDetailsPart3LineItems" xlink:to="ello_LoansDetailsPart3LineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DebenturesDetailsTable" xlink:href="ello-20231231.xsd#ello_DebenturesDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DebenturesDetailsTable_lbl" xml:lang="en-US">Debentures (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesDetailsTable" xlink:to="ello_DebenturesDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DebenturesDetailsLineItems" xlink:href="ello-20231231.xsd#ello_DebenturesDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DebenturesDetailsLineItems_lbl" xml:lang="en-US">Debentures [Line items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesDetailsLineItems" xlink:to="ello_DebenturesDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember_lbl" xml:lang="en-US">Liabilities arising from financing activities [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember" xlink:to="ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LeasesDetailsTable" xlink:href="ello-20231231.xsd#ello_LeasesDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LeasesDetailsTable_lbl" xml:lang="en-US">Leases (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LeasesDetailsTable" xlink:to="ello_LeasesDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_LeasesDetailsLineItems" xlink:href="ello-20231231.xsd#ello_LeasesDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LeasesDetailsLineItems_lbl" xml:lang="en-US">Leases (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LeasesDetailsLineItems" xlink:to="ello_LeasesDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TransactionsandBalanceswithRelatedPartiesDetailsTable" xlink:href="ello-20231231.xsd#ello_TransactionsandBalanceswithRelatedPartiesDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TransactionsandBalanceswithRelatedPartiesDetailsTable_lbl" xml:lang="en-US">Transactions and Balances with Related Parties (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionsandBalanceswithRelatedPartiesDetailsTable" xlink:to="ello_TransactionsandBalanceswithRelatedPartiesDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TransactionsandBalanceswithRelatedPartiesDetailsLineItems" xlink:href="ello-20231231.xsd#ello_TransactionsandBalanceswithRelatedPartiesDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TransactionsandBalanceswithRelatedPartiesDetailsLineItems_lbl" xml:lang="en-US">Transactions and Balances with Related Parties (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionsandBalanceswithRelatedPartiesDetailsLineItems" xlink:to="ello_TransactionsandBalanceswithRelatedPartiesDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfShareCapitalMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_ClassesOfShareCapitalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfShareCapitalMember_lbl" xml:lang="en-US">Share capital [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfShareCapitalMember" xlink:to="ifrs-full_ClassesOfShareCapitalMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EquityDetailsTable" xlink:href="ello-20231231.xsd#ello_EquityDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EquityDetailsTable_lbl" xml:lang="en-US">Equity (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EquityDetailsTable" xlink:to="ello_EquityDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_EquityDetailsLineItems" xlink:href="ello-20231231.xsd#ello_EquityDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EquityDetailsLineItems_lbl" xml:lang="en-US">Equity (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EquityDetailsLineItems" xlink:to="ello_EquityDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SharebasedPaymentArrangementsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_SharebasedPaymentArrangementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SharebasedPaymentArrangementsMember_lbl" xml:lang="en-US">Share-based payment arrangements [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharebasedPaymentArrangementsMember" xlink:to="ifrs-full_SharebasedPaymentArrangementsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ShareBasedPaymentDetailsTable" xlink:href="ello-20231231.xsd#ello_ShareBasedPaymentDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ShareBasedPaymentDetailsTable_lbl" xml:lang="en-US">Share-Based Payment (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShareBasedPaymentDetailsTable" xlink:to="ello_ShareBasedPaymentDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems_lbl" xml:lang="en-US">Share-Based Payment [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TaxesonIncomeDetailsTable" xlink:href="ello-20231231.xsd#ello_TaxesonIncomeDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TaxesonIncomeDetailsTable_lbl" xml:lang="en-US">Taxes on Income (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TaxesonIncomeDetailsTable" xlink:to="ello_TaxesonIncomeDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_TaxesonIncomeDetailsLineItems" xlink:href="ello-20231231.xsd#ello_TaxesonIncomeDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TaxesonIncomeDetailsLineItems_lbl" xml:lang="en-US">Taxes on Income (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TaxesonIncomeDetailsLineItems" xlink:to="ello_TaxesonIncomeDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_AwardYearDomainDomain" xlink:href="ello-20231231.xsd#ello_AwardYearDomainDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AwardYearDomainDomain_lbl" xml:lang="en-US">AwardYearDomain [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AwardYearDomainDomain" xlink:to="ello_AwardYearDomainDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CounterpartiesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2023-03-23/full_ifrs/full_ifrs-cor_2023-03-23.xsd#ifrs-full_CounterpartiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CounterpartiesMember_lbl" xml:lang="en-US">Counterparties [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ifrs-full_CounterpartiesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OperatingSegmentsDetailsTable" xlink:href="ello-20231231.xsd#ello_OperatingSegmentsDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_OperatingSegmentsDetailsTable_lbl" xml:lang="en-US">Operating Segments (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OperatingSegmentsDetailsTable" xlink:to="ello_OperatingSegmentsDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_OperatingSegmentsDetailsLineItems" xlink:href="ello-20231231.xsd#ello_OperatingSegmentsDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_OperatingSegmentsDetailsLineItems_lbl" xml:lang="en-US">Operating Segments (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OperatingSegmentsDetailsLineItems" xlink:to="ello_OperatingSegmentsDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsTable" xlink:href="ello-20231231.xsd#ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsTable_lbl" xml:lang="en-US">Discontinued operation and Disposal Groups Held for Sale (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsTable" xlink:to="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsLineItems" xlink:href="ello-20231231.xsd#ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsLineItems_lbl" xml:lang="en-US">Non-Current Assets and Disposal Groups Held for Sale [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsLineItems" xlink:to="ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SubsequentEventsDetailsTable" xlink:href="ello-20231231.xsd#ello_SubsequentEventsDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SubsequentEventsDetailsTable_lbl" xml:lang="en-US">Subsequent Events (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SubsequentEventsDetailsTable" xlink:to="ello_SubsequentEventsDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_SubsequentEventsDetailsLineItems" xlink:href="ello-20231231.xsd#ello_SubsequentEventsDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SubsequentEventsDetailsLineItems_lbl" xml:lang="en-US">Subsequent Events (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SubsequentEventsDetailsLineItems" xlink:to="ello_SubsequentEventsDetailsLineItems_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AccruedExpensesConnectedToManaraPsp_lbl0" xml:lang="en-US">Represents the amount of accrued expenses connected to Manara PSP.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AccruedExpensesConnectedToManaraPsp" xlink:to="ello_AccruedExpensesConnectedToManaraPsp_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ActualTaxBenefittaxesOnIncome_lbl0" xml:lang="en-US">Actual tax benefit (taxes on income).</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ActualTaxBenefittaxesOnIncome" xlink:to="ello_ActualTaxBenefittaxesOnIncome_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AdditionalPotentialPayment_lbl0" xml:lang="en-US">Additional potential payment.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdditionalPotentialPayment" xlink:to="ello_AdditionalPotentialPayment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AdjustmentsForFinancingExpensesNet_lbl0" xml:lang="en-US">Financing income (expenses), net.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdjustmentsForFinancingExpensesNet" xlink:to="ello_AdjustmentsForFinancingExpensesNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AdvancePayment_lbl0" xml:lang="en-US">Advance payment.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdvancePayment" xlink:to="ello_AdvancePayment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AdvancesOnAccountOfInvestment_lbl0" xml:lang="en-US">Advances on account of investments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdvancesOnAccountOfInvestment" xlink:to="ello_AdvancesOnAccountOfInvestment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AdvancesOnAccountOfInvestments_lbl0" xml:lang="en-US">Advances on account of investments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdvancesOnAccountOfInvestments" xlink:to="ello_AdvancesOnAccountOfInvestments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AggregateAmount_lbl0" xml:lang="en-US">Aggregate amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateAmount" xlink:to="ello_AggregateAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AggregateBookValueInvestmentInSubsidiary_lbl0" xml:lang="en-US">Aggregate book value of investment in subsidiary.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateBookValueInvestmentInSubsidiary" xlink:to="ello_AggregateBookValueInvestmentInSubsidiary_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AggregateGrossConsideration_lbl1" xml:lang="en-US">Aggregate gross consideration.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateGrossConsideration" xlink:to="ello_AggregateGrossConsideration_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AggregateGrossConsiderationPricePerShare_lbl0" xml:lang="en-US">Aggregate gross consideration price per share.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateGrossConsiderationPricePerShare" xlink:to="ello_AggregateGrossConsiderationPricePerShare_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AggregateNominalPurchasePrice_lbl0" xml:lang="en-US">Aggregate nominal purchase price.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateNominalPurchasePrice" xlink:to="ello_AggregateNominalPurchasePrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AggregateRepaymentOfDebenture_lbl0" xml:lang="en-US">Represents amount of aggregate repayment of debenture.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateRepaymentOfDebenture" xlink:to="ello_AggregateRepaymentOfDebenture_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmortizationOfCapitalizedExpensesRelatedToProjectsFinance_lbl0" xml:lang="en-US">Represents amount of amortization of capitalized expenses related to projects finance.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmortizationOfCapitalizedExpensesRelatedToProjectsFinance" xlink:to="ello_AmortizationOfCapitalizedExpensesRelatedToProjectsFinance_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountFinancialAgreementGuaranteesByDirectShare_lbl0" xml:lang="en-US">Amount financial agreement guarantees by direct share.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountFinancialAgreementGuaranteesByDirectShare" xlink:to="ello_AmountFinancialAgreementGuaranteesByDirectShare_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountFinancialAgreementGuaranteesByIndirectShare_lbl0" xml:lang="en-US">Amount financial agreement guarantees by indirect share.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountFinancialAgreementGuaranteesByIndirectShare" xlink:to="ello_AmountFinancialAgreementGuaranteesByIndirectShare_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountForfeitureOfLicenseGuarantee_lbl0" xml:lang="en-US">Represents amount forfeiture of license guarantee.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountForfeitureOfLicenseGuarantee" xlink:to="ello_AmountForfeitureOfLicenseGuarantee_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountOfAcquisition_lbl0" xml:lang="en-US">Amount of acquisition.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfAcquisition" xlink:to="ello_AmountOfAcquisition_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountOfAdjustmentOfBalanceSheetEquity_lbl0" xml:lang="en-US">It represents amount of adjustment of balance sheet equity.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfAdjustmentOfBalanceSheetEquity" xlink:to="ello_AmountOfAdjustmentOfBalanceSheetEquity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountOfDilutiveStockOptionsAndWarrants_lbl0" xml:lang="en-US">Amount of dilutive stock options and warrants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfDilutiveStockOptionsAndWarrants" xlink:to="ello_AmountOfDilutiveStockOptionsAndWarrants_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountOfExpansionOfAggregateParValueOfDebentures_lbl0" xml:lang="en-US">It represents amount of expansion of aggregate par value of debentures.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfExpansionOfAggregateParValueOfDebentures" xlink:to="ello_AmountOfExpansionOfAggregateParValueOfDebentures_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountOfImmediateRepaymentProvision_lbl0" xml:lang="en-US">Amount of immediate repayment provision.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfImmediateRepaymentProvision" xlink:to="ello_AmountOfImmediateRepaymentProvision_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountOfMaximumNetWealthTax_lbl0" xml:lang="en-US">Represents the amount of maximum net wealth tax.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfMaximumNetWealthTax" xlink:to="ello_AmountOfMaximumNetWealthTax_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountOfMinimumNetWealthTax_lbl0" xml:lang="en-US">Represents the amount of minimum net wealth tax.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfMinimumNetWealthTax" xlink:to="ello_AmountOfMinimumNetWealthTax_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountOfOrdinarySharesRepurchased_lbl0" xml:lang="en-US">Amount of ordinary shares repurchased.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfOrdinarySharesRepurchased" xlink:to="ello_AmountOfOrdinarySharesRepurchased_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountOfShareholdersFinancingCommitments_lbl0" xml:lang="en-US">Represents the amount of shareholders financing commitments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfShareholdersFinancingCommitments" xlink:to="ello_AmountOfShareholdersFinancingCommitments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountWithdrawnFromLoanAccount_lbl0" xml:lang="en-US">Amount withdrawn from loan account.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountWithdrawnFromLoanAccount" xlink:to="ello_AmountWithdrawnFromLoanAccount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AnnualRent_lbl0" xml:lang="en-US">Represents the amount of annual rent.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AnnualRent" xlink:to="ello_AnnualRent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AnnualRentIncreasesPercentage_lbl0" xml:lang="en-US">Annual rent increases percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AnnualRentIncreasesPercentage" xlink:to="ello_AnnualRentIncreasesPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale_lbl0" xml:lang="en-US">Assets of disposal groups classified as held for sale.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale" xlink:to="ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AssociatedExpensesInEquity_lbl0" xml:lang="en-US">Associated expenses in equity.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AssociatedExpensesInEquity" xlink:to="ello_AssociatedExpensesInEquity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_BorrowingsTransactionCosts_lbl1" xml:lang="en-US">Transaction costs (credits) related to borrowings.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BorrowingsTransactionCosts" xlink:to="ello_BorrowingsTransactionCosts_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CapitalizedRent_lbl0" xml:lang="en-US">Represents the amount of capitalized rents to private lessors.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CapitalizedRent" xlink:to="ello_CapitalizedRent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CashFlowsFromUsedInFinancingActivities1_lbl0" xml:lang="en-US">The cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CashFlowsFromUsedInFinancingActivities1" xlink:to="ello_CashFlowsFromUsedInFinancingActivities1_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ChangeInExchangeRateOfIncreaseDecreaseOfEquity_lbl0" xml:lang="en-US">Change in exchange rate of increase (decrease) of equity.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ChangeInExchangeRateOfIncreaseDecreaseOfEquity" xlink:to="ello_ChangeInExchangeRateOfIncreaseDecreaseOfEquity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ChangeInTemporaryTaxDifferences_lbl0" xml:lang="en-US">Change in temporary tax differences.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ChangeInTemporaryTaxDifferences" xlink:to="ello_ChangeInTemporaryTaxDifferences_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ClaimsAmountPayment_lbl0" xml:lang="en-US">Claims amount payment.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ClaimsAmountPayment" xlink:to="ello_ClaimsAmountPayment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ClaimsInterestPaymentAmount_lbl0" xml:lang="en-US">Claims interest payment amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ClaimsInterestPaymentAmount" xlink:to="ello_ClaimsInterestPaymentAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CompanysShareholders_lbl0" xml:lang="en-US">Company&#8217;s shareholders.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompanysShareholders" xlink:to="ello_CompanysShareholders_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CompositionOfAdvancesOnAccountOfInvestments_lbl0" xml:lang="en-US">The amount of on account of development of PV projects in Italy.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompositionOfAdvancesOnAccountOfInvestments" xlink:to="ello_CompositionOfAdvancesOnAccountOfInvestments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CompositionOfInvestments_lbl0" xml:lang="en-US">The amount of composition of the investments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompositionOfInvestments" xlink:to="ello_CompositionOfInvestments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ComprehensiveIncomeloss_lbl0" xml:lang="en-US">Amount of comprehensive income loss.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ComprehensiveIncomeloss" xlink:to="ello_ComprehensiveIncomeloss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ConnectionToGrid_lbl0" xml:lang="en-US">Date grid connection was made.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConnectionToGrid" xlink:to="ello_ConnectionToGrid_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ConstructionAgreementAmount_lbl0" xml:lang="en-US">Construction agreement amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConstructionAgreementAmount" xlink:to="ello_ConstructionAgreementAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ConstructionPeriod_lbl0" xml:lang="en-US">Represents construction period.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConstructionPeriod" xlink:to="ello_ConstructionPeriod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ConversionToShortTermLoan_lbl0" xml:lang="en-US">Represents the amount of conversion to short term loan.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConversionToShortTermLoan" xlink:to="ello_ConversionToShortTermLoan_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CostAssociatedWithLongTermLoans_lbl0" xml:lang="en-US">Cash outflow for cost associated with long term loans during the period.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CostAssociatedWithLongTermLoans" xlink:to="ello_CostAssociatedWithLongTermLoans_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CostIncludedInBookValue_lbl0" xml:lang="en-US">The amount of cost included in book value.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CostIncludedInBookValue" xlink:to="ello_CostIncludedInBookValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast_lbl0" xml:lang="en-US">Creation of deferred taxes for tax losses and benefits from previous years for which deferred taxes were not created in the past.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast" xlink:to="ello_CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrentIncomeReceivable_lbl1" xml:lang="en-US">The amount of current income receivable.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentIncomeReceivable" xlink:to="ello_CurrentIncomeReceivable_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrentMaturities_lbl0" xml:lang="en-US">Represent the amount of current maturities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentMaturities" xlink:to="ello_CurrentMaturities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrentMaturitiesOfLoansGivenToAnEquityAccountedInvestee_lbl0" xml:lang="en-US">Amount of current Maturities of loans given to an equity accounted investee.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentMaturitiesOfLoansGivenToAnEquityAccountedInvestee" xlink:to="ello_CurrentMaturitiesOfLoansGivenToAnEquityAccountedInvestee_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrentMaturitiesOfLongtermLoans_lbl0" xml:lang="en-US">Current maturities of long-term loans.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentMaturitiesOfLongtermLoans" xlink:to="ello_CurrentMaturitiesOfLongtermLoans_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrentPayableToGovernmentAuthorities_lbl0" xml:lang="en-US">Current payables to government authorities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentPayableToGovernmentAuthorities" xlink:to="ello_CurrentPayableToGovernmentAuthorities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers_lbl0" xml:lang="en-US">Current year tax losses and benefits for which deferred taxes were not created, reserve of uncertain tax position and others.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers" xlink:to="ello_CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CustomaryException_lbl0" xml:lang="en-US">Customary exception.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CustomaryException" xlink:to="ello_CustomaryException_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DateOfExpireOfShareBasedPaymentArrangement_lbl0" xml:lang="en-US">The date on which share-based payment arrangements expired.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DateOfExpireOfShareBasedPaymentArrangement" xlink:to="ello_DateOfExpireOfShareBasedPaymentArrangement_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DebentureIssuedPerUnitPrice_lbl0" xml:lang="en-US">Debenture issued per unit price.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebentureIssuedPerUnitPrice" xlink:to="ello_DebentureIssuedPerUnitPrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare_lbl1" xml:lang="en-US">Represents amount of debentures convertible into ordinary shares par value per share.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare" xlink:to="ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DebenturesFixedInterestRate_lbl0" xml:lang="en-US">Represents the amount of debentures Fixed Interest rate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesFixedInterestRate" xlink:to="ello_DebenturesFixedInterestRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DebenturesPayableTerm_lbl0" xml:lang="en-US">Debentures payable term.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesPayableTerm" xlink:to="ello_DebenturesPayableTerm_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DebtInstrumentConversionPrice_lbl0" xml:lang="en-US">Represents conversion price of debt instruments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebtInstrumentConversionPrice" xlink:to="ello_DebtInstrumentConversionPrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DecreaseInAnnualInterestRateForDebentures_lbl0" xml:lang="en-US">Decrease in annual interest rate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DecreaseInAnnualInterestRateForDebentures" xlink:to="ello_DecreaseInAnnualInterestRateForDebentures_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DeferredAggregatePurchasePrice_lbl0" xml:lang="en-US">Deferred aggregate purchase price.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DeferredAggregatePurchasePrice" xlink:to="ello_DeferredAggregatePurchasePrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DeferredPaymentReceived_lbl0" xml:lang="en-US">Deferred payment received</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DeferredPaymentReceived" xlink:to="ello_DeferredPaymentReceived_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DeferredRevenues_lbl0" xml:lang="en-US">Represents the amount of Deferred revenues.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DeferredRevenues" xlink:to="ello_DeferredRevenues_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DepositAsDebtServiceFund_lbl1" xml:lang="en-US">Represents the deposit as debt service fund.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DepositAsDebtServiceFund" xlink:to="ello_DepositAsDebtServiceFund_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DepositAsSecurityForLetterOfCredit_lbl0" xml:lang="en-US">Represents the amount of deposit as security for a letter of credit.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DepositAsSecurityForLetterOfCredit" xlink:to="ello_DepositAsSecurityForLetterOfCredit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory_lbl0" xml:lang="en-US">The description of the entity&apos;s accounting policy for new standards, amendments and interpretations not yet adopted.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory" xlink:to="ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DescriptionOfCurrencyLinkagePayable_lbl0" xml:lang="en-US">Currency/linkage payable.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfCurrencyLinkagePayable" xlink:to="ello_DescriptionOfCurrencyLinkagePayable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DescriptionOfCurrencyLinkageReceivable_lbl0" xml:lang="en-US">Currency/linkage receivable.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfCurrencyLinkageReceivable" xlink:to="ello_DescriptionOfCurrencyLinkageReceivable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DescriptionOfDebtEquityRatioAndHoldings_lbl0" xml:lang="en-US">Description of Debt Equity ratio and holdings.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfDebtEquityRatioAndHoldings" xlink:to="ello_DescriptionOfDebtEquityRatioAndHoldings_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement_lbl0" xml:lang="en-US">The description of the extended term of options granted for a type of share-based payment arrangement that existed at any time during the period. An entity with substantially similar types of share-based payment arrangements may aggregate this information.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement" xlink:to="ello_DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements_lbl0" xml:lang="en-US">The description of accounting policies relevant to an understanding of financial statements, which the entity does not separately disclose.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements" xlink:to="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes_lbl0" xml:lang="en-US">Represents the amount of difference between measurement basis of income (expenses) for tax purposes and measurement basis of income (expenses) for financial reporting purposes.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes" xlink:to="ello_DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfBlackScholesOptionsPricingModelTextBlock_lbl0" xml:lang="en-US">The detailed infoemation about black schole option pricing model.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfBlackScholesOptionsPricingModelTextBlock" xlink:to="ello_DisclosureOfBlackScholesOptionsPricingModelTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfCashAndCashEquivalentstableTextBlock_lbl0" xml:lang="en-US">The disclosure of cash and cash equivalents.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfCashAndCashEquivalentstableTextBlock" xlink:to="ello_DisclosureOfCashAndCashEquivalentstableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlock_lbl0" xml:lang="en-US">The disclosure of current maturities and short term bank loans.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlock" xlink:to="ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures_lbl0" xml:lang="en-US">The disclosure of detailed information about aggregate annual maturities of debentures.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures" xlink:to="ello_DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about aggregate annual maturities of long-term loans.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutChangesInInvestmentsExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about changes in investments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutChangesInInvestmentsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutChangesInInvestmentsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about compensation to individuals not employed by company.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutCompositionExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about the composition of investments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutCompositionExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutCompositionExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutCompositionOfAdvancesOnAccountOfInvestmentsExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about composition of advances on account of investments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutCompositionOfAdvancesOnAccountOfInvestmentsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutCompositionOfAdvancesOnAccountOfInvestmentsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutDebenturesExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about debentures.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutDebenturesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutDebenturesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about debts and loans to related and interested parties.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutFinancialPositionForInvestmentsExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about the financial position in investments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutFinancialPositionForInvestmentsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutFinancialPositionForInvestmentsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutForwardAndSwapContractsExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about forward and swap contracts.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutForwardAndSwapContractsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutForwardAndSwapContractsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutInformationOnOperatingResultsExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about information on operating results in investments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutInformationOnOperatingResultsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutInformationOnOperatingResultsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about investment in photovoltaic plants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about movement in liabilities deriving from financing activities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutOtherLongTermLiabilitiesExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about other long-term liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutOtherLongTermLiabilitiesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutOtherLongTermLiabilitiesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutOtherPayablesExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about other payables.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutOtherPayablesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutOtherPayablesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about restricted cash, deposits and marketable securities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutScheduleOfEstimatedUsefulLivesExplanatory_lbl0" xml:lang="en-US">The disclosure of detailed information about estimated useful lives.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutScheduleOfEstimatedUsefulLivesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutScheduleOfEstimatedUsefulLivesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailsOfStatementsOfProfitOrLossAndOtherComprehensiveIncomeLossExplanatory_lbl0" xml:lang="en-US">The entire disclosure for details of the statements of profit or loss and other comprehensive income (loss).</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailsOfStatementsOfProfitOrLossAndOtherComprehensiveIncomeLossExplanatory" xlink:to="ello_DisclosureOfDetailsOfStatementsOfProfitOrLossAndOtherComprehensiveIncomeLossExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfExpensesRecognizedInFinancialStatementsExplanatory_lbl0" xml:lang="en-US">Tabular disclosure of expenses recognised financial statements.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfExpensesRecognizedInFinancialStatementsExplanatory" xlink:to="ello_DisclosureOfExpensesRecognizedInFinancialStatementsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock_lbl0" xml:lang="en-US">The disclosure of income tax expense benefits explanatory.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock" xlink:to="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock_lbl0" xml:lang="en-US">The disclosure of reconciliation of effective tax rate explanatory.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock" xlink:to="ello_DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfTradeAndOtherReceivablesTableTextBlock_lbl0" xml:lang="en-US">Disclosure of trade and other receivables.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfTradeAndOtherReceivablesTableTextBlock" xlink:to="ello_DisclosureOfTradeAndOtherReceivablesTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EffectOfChangesInExchangeRatesToRightOfUseAssets_lbl0" xml:lang="en-US">The amount of effect of changes in exchange rates to right-of-use assets.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EffectOfChangesInExchangeRatesToRightOfUseAssets" xlink:to="ello_EffectOfChangesInExchangeRatesToRightOfUseAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EffectOfChangesInForeignExchangeRates_lbl0" xml:lang="en-US">Effect of changes in foreign exchange rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EffectOfChangesInForeignExchangeRates" xlink:to="ello_EffectOfChangesInForeignExchangeRates_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EliminationOfInterestOnLoanFromRelatedParty_lbl0" xml:lang="en-US">Elimination of interest on loan from related party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EliminationOfInterestOnLoanFromRelatedParty" xlink:to="ello_EliminationOfInterestOnLoanFromRelatedParty_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent_lbl0" xml:lang="en-US">Employee and payroll accruals.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent" xlink:to="ello_EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EstimatedAdditionalEquity_lbl0" xml:lang="en-US">Represents the value of estimated additional equity.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EstimatedAdditionalEquity" xlink:to="ello_EstimatedAdditionalEquity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ExercisedDuringTheYearNumberOfOptions_lbl0" xml:lang="en-US">Exercised during the year, Number of options.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ExercisedDuringTheYearNumberOfOptions" xlink:to="ello_ExercisedDuringTheYearNumberOfOptions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ExpectedSpecialDividend_lbl0" xml:lang="en-US">Represents the amount of expected special dividend.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ExpectedSpecialDividend" xlink:to="ello_ExpectedSpecialDividend_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ExpensesPercentage_lbl0" xml:lang="en-US">Expenses percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ExpensesPercentage" xlink:to="ello_ExpensesPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ExtensionOfMaturityTermPeriod_lbl0" xml:lang="en-US">Represent the extension of loan maturity term period.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ExtensionOfMaturityTermPeriod" xlink:to="ello_ExtensionOfMaturityTermPeriod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinanceExpenses_lbl0" xml:lang="en-US">Total finance expenses for the period, including finance expense from derivative instruments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceExpenses" xlink:to="ello_FinanceExpenses_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinanceIncomeExpenseNet_lbl0" xml:lang="en-US">Financing income (expenses), net.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceIncomeExpenseNet" xlink:to="ello_FinanceIncomeExpenseNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinanceProvidedByOwners_lbl0" xml:lang="en-US">Finance provided by owners.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceProvidedByOwners" xlink:to="ello_FinanceProvidedByOwners_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinancialPowerSwap_lbl0" xml:lang="en-US">Financial power swap.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancialPowerSwap" xlink:to="ello_FinancialPowerSwap_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinancingExpensesInConnectionWithDerivativesNet_lbl0" xml:lang="en-US">Change in fair value of derivatives.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancingExpensesInConnectionWithDerivativesNet" xlink:to="ello_FinancingExpensesInConnectionWithDerivativesNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinancingIncomeExpensesInConnectionWithDerivativesNet_lbl0" xml:lang="en-US">Financing income (expenses) in connection with derivatives, net.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancingIncomeExpensesInConnectionWithDerivativesNet" xlink:to="ello_FinancingIncomeExpensesInConnectionWithDerivativesNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FixedAndLumpsumAmount_lbl0" xml:lang="en-US">Fixed and lump-sum amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAndLumpsumAmount" xlink:to="ello_FixedAndLumpsumAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FixedAnnualInterestRate_lbl0" xml:lang="en-US">Represents the fixed annual interest rate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAnnualInterestRate" xlink:to="ello_FixedAnnualInterestRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FixedAssetsNet_lbl0" xml:lang="en-US">fixed assets, net.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAssetsNet" xlink:to="ello_FixedAssetsNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ForeignCurrencyTranslationAdjustments_lbl0" xml:lang="en-US">Foreign currency translation adjustments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ForeignCurrencyTranslationAdjustments" xlink:to="ello_ForeignCurrencyTranslationAdjustments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GainFromDerivativeContracts_lbl0" xml:lang="en-US">Represents the amount of gain from derivative contracts.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GainFromDerivativeContracts" xlink:to="ello_GainFromDerivativeContracts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GovernmentAuthorities_lbl0" xml:lang="en-US">Current amounts owed from government authorities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GovernmentAuthorities" xlink:to="ello_GovernmentAuthorities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GovernmentAuthoritiesCurrentReceivables_lbl0" xml:lang="en-US">The amount of government authorities current receivables.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GovernmentAuthoritiesCurrentReceivables" xlink:to="ello_GovernmentAuthoritiesCurrentReceivables_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GreenGasProductionCapacity_lbl0" xml:lang="en-US">Green gas production capacity per year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GreenGasProductionCapacity" xlink:to="ello_GreenGasProductionCapacity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GreenGasProductionCapacityLevel_lbl0" xml:lang="en-US">Green gas production capacity.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GreenGasProductionCapacityLevel" xlink:to="ello_GreenGasProductionCapacityLevel_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GrossProceedsFromIssueOfBondsNotesAndDebentures_lbl0" xml:lang="en-US">Gross proceeds from offering.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GrossProceedsFromIssueOfBondsNotesAndDebentures" xlink:to="ello_GrossProceedsFromIssueOfBondsNotesAndDebentures_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject_lbl0" xml:lang="en-US">Change in receivable from concessions project.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject" xlink:to="ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IncreaseInPercentageOfInterest_lbl0" xml:lang="en-US">Increase in percentage of interest.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseInPercentageOfInterest" xlink:to="ello_IncreaseInPercentageOfInterest_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IncreaseddecreasedProfitOrLoss_lbl0" xml:lang="en-US">Increased (decreased) profit or loss.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseddecreasedProfitOrLoss" xlink:to="ello_IncreaseddecreasedProfitOrLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IntangibleAssetFromGreenCertificates_lbl0" xml:lang="en-US">Intangible asset from green certificates.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IntangibleAssetFromGreenCertificates" xlink:to="ello_IntangibleAssetFromGreenCertificates_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_InterestAndCommissionsRelatedToProjectsFinance_lbl0" xml:lang="en-US">Represents amount of interest and commissions related to projects finance.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestAndCommissionsRelatedToProjectsFinance" xlink:to="ello_InterestAndCommissionsRelatedToProjectsFinance_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_InterestOnLongTermLoans_lbl0" xml:lang="en-US">Interest on long term loans.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestOnLongTermLoans" xlink:to="ello_InterestOnLongTermLoans_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_InterestPayableOnDebtPercentage_lbl0" xml:lang="en-US">Interest payable on debt percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestPayableOnDebtPercentage" xlink:to="ello_InterestPayableOnDebtPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_InterestSwapTransactionPeriod_lbl0" xml:lang="en-US">Interest swap transaction period.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestSwapTransactionPeriod" xlink:to="ello_InterestSwapTransactionPeriod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_InvestmentInShares_lbl1" xml:lang="en-US">Investment in shares.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InvestmentInShares" xlink:to="ello_InvestmentInShares_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IssuanceOfCapitalNoteToNoncontrollingInterest_lbl0" xml:lang="en-US">Amount of issuance of capital to non-controlling interest.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IssuanceOfCapitalNoteToNoncontrollingInterest" xlink:to="ello_IssuanceOfCapitalNoteToNoncontrollingInterest_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IssuanceOfCapitalToNonControllingInterest_lbl0" xml:lang="en-US">It represents issuance of capital to non-controlling interest.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IssuanceOfCapitalToNonControllingInterest" xlink:to="ello_IssuanceOfCapitalToNonControllingInterest_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IssueOfWarrants_lbl0" xml:lang="en-US">The cash outflow for repayments of issue of warrants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IssueOfWarrants" xlink:to="ello_IssueOfWarrants_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IssuedProductionLicenses_lbl0" xml:lang="en-US">Issued production licenses.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IssuedProductionLicenses" xlink:to="ello_IssuedProductionLicenses_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LeaseAgreementsRightOfUseAssets_lbl0" xml:lang="en-US">Represents the amount of lease agreements right of use assets.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LeaseAgreementsRightOfUseAssets" xlink:to="ello_LeaseAgreementsRightOfUseAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LeaseExpireDates_lbl0" xml:lang="en-US">Lease Expire dates.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LeaseExpireDates" xlink:to="ello_LeaseExpireDates_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale_lbl0" xml:lang="en-US">Liabilities of disposal groups classified as held for sale.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale" xlink:to="ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LicenseExpired_lbl0" xml:lang="en-US">License expiration date.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LicenseExpired" xlink:to="ello_LicenseExpired_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LinkageValueOfLoansAndBorrowings_lbl0" xml:lang="en-US">Linkage value of loans and borrowings.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LinkageValueOfLoansAndBorrowings" xlink:to="ello_LinkageValueOfLoansAndBorrowings_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoanToEquityAccountedInvestee_lbl0" xml:lang="en-US">Loan to an equity accounted investee.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanToEquityAccountedInvestee" xlink:to="ello_LoanToEquityAccountedInvestee_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoanToOthersinDollars_lbl0" xml:lang="en-US">The amount of Loan to others.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanToOthersinDollars" xlink:to="ello_LoanToOthersinDollars_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoansToOthers_lbl0" xml:lang="en-US">Information about loans to others.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansToOthers" xlink:to="ello_LoansToOthers_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LongTermBorrowingsRiseInCurrentYear_lbl0" xml:lang="en-US">It represents long term borrowings rise in current year.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LongTermBorrowingsRiseInCurrentYear" xlink:to="ello_LongTermBorrowingsRiseInCurrentYear_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LongTermInvestment_lbl0" xml:lang="en-US">Long-term Investment.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LongTermInvestment" xlink:to="ello_LongTermInvestment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt_lbl0" xml:lang="en-US">Represents amount of long term liabilities recognized in connection with convertible debt.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt" xlink:to="ello_LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LongTermLoansExtended_lbl0" xml:lang="en-US">Long term loans extended.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LongTermLoansExtended" xlink:to="ello_LongTermLoansExtended_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LongtermLoans_lbl0" xml:lang="en-US">Long-term loans.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LongtermLoans" xlink:to="ello_LongtermLoans_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_MarketableSecuritie_lbl0" xml:lang="en-US">Marketable securities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MarketableSecuritie" xlink:to="ello_MarketableSecuritie_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_MaturityPeriod_lbl0" xml:lang="en-US">Maturity period.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MaturityPeriod" xlink:to="ello_MaturityPeriod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_MaturityPeriodTerm_lbl0" xml:lang="en-US">Represent the period of loan maturity.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MaturityPeriodTerm" xlink:to="ello_MaturityPeriodTerm_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_MinorityPercentage_lbl0" xml:lang="en-US">Minority percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MinorityPercentage" xlink:to="ello_MinorityPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss_lbl0" xml:lang="en-US">Net change in fair value of cash flow hedges transferred to profit or loss.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss" xlink:to="ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NetOfTreasuryShares_lbl0" xml:lang="en-US">Treasury shares.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NetOfTreasuryShares" xlink:to="ello_NetOfTreasuryShares_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees_lbl0" xml:lang="en-US">Neutralization of tax calculated in respect of the Company&apos;s share in profits of equity accounted investees.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees" xlink:to="ello_NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NumberOfEmployeesForPostEmploymentBenefits_lbl0" xml:lang="en-US">Number of people for post employment benefits.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfEmployeesForPostEmploymentBenefits" xlink:to="ello_NumberOfEmployeesForPostEmploymentBenefits_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NumberOfEmployeesForShareBasedPayments_lbl1" xml:lang="en-US">Number of people for share-based payments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfEmployeesForShareBasedPayments" xlink:to="ello_NumberOfEmployeesForShareBasedPayments_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NumberOfEmployeesForShortEmployeeBenefits_lbl0" xml:lang="en-US">Number of people for short-term employee benefits.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfEmployeesForShortEmployeeBenefits" xlink:to="ello_NumberOfEmployeesForShortEmployeeBenefits_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NumberOfPaymentsInstallment_lbl0" xml:lang="en-US">Represent the number of installment payment.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfPaymentsInstallment" xlink:to="ello_NumberOfPaymentsInstallment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NumberOfPeopleForCompensationNotEmployed_lbl0" xml:lang="en-US">Number of people for compensation not employed by the company.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfPeopleForCompensationNotEmployed" xlink:to="ello_NumberOfPeopleForCompensationNotEmployed_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NumberOfSplittingOfLoans_lbl0" xml:lang="en-US">It represents number of splitting of loans.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfSplittingOfLoans" xlink:to="ello_NumberOfSplittingOfLoans_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OnCallCreditFacility_lbl0" xml:lang="en-US">On-call credit facility.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OnCallCreditFacility" xlink:to="ello_OnCallCreditFacility_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OperatingLeaseAgreementTerm_lbl0" xml:lang="en-US">Term of operating lease agreement.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OperatingLeaseAgreementTerm" xlink:to="ello_OperatingLeaseAgreementTerm_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OrdinarySharesAvailableForFutureGrants_lbl0" xml:lang="en-US">Ordinary shares available for future grants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OrdinarySharesAvailableForFutureGrants" xlink:to="ello_OrdinarySharesAvailableForFutureGrants_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OriginalNominalCapacityPlant_lbl0" xml:lang="en-US">Nominal Capcity of power plants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OriginalNominalCapacityPlant" xlink:to="ello_OriginalNominalCapacityPlant_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OtherAdjustments_lbl0" xml:lang="en-US">Other adjustments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherAdjustments" xlink:to="ello_OtherAdjustments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OtherAdjustmentsInvestment_lbl0" xml:lang="en-US">Other adjustments investment.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherAdjustmentsInvestment" xlink:to="ello_OtherAdjustmentsInvestment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OtherGeneralAndAdministrativeExpenses_lbl0" xml:lang="en-US">Other general and administrative expenses.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherGeneralAndAdministrativeExpenses" xlink:to="ello_OtherGeneralAndAdministrativeExpenses_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OtherLongTermBorrowingsOriginalCurrency_lbl0" xml:lang="en-US">The currency in which the other long term borrowings are denominated.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherLongTermBorrowingsOriginalCurrency" xlink:to="ello_OtherLongTermBorrowingsOriginalCurrency_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OtherRightOfUseAssets_lbl0" xml:lang="en-US">It represents other right of use assets.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherRightOfUseAssets" xlink:to="ello_OtherRightOfUseAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OutputPercentageOfFinancialPowerSwap_lbl0" xml:lang="en-US">Output percentage of financial power swap.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OutputPercentageOfFinancialPowerSwap" xlink:to="ello_OutputPercentageOfFinancialPowerSwap_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee_lbl0" xml:lang="en-US">Payment of interest on loan from an equity accounted investee.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee" xlink:to="ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PaymentOfPrincipalOfLeaseLiabilities_lbl0" xml:lang="en-US">Payment of principal of lease liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentOfPrincipalOfLeaseLiabilities" xlink:to="ello_PaymentOfPrincipalOfLeaseLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PaymentPercentage_lbl0" xml:lang="en-US">Payment percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentPercentage" xlink:to="ello_PaymentPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PaymentReceivedForManagementAndEntrepreneurshipServices_lbl0" xml:lang="en-US">Payment received for management and entrepreneurship services.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentReceivedForManagementAndEntrepreneurshipServices" xlink:to="ello_PaymentReceivedForManagementAndEntrepreneurshipServices_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PaymentToLeaseLiability_lbl0" xml:lang="en-US">Represent the amount of payment to lease liability.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentToLeaseLiability" xlink:to="ello_PaymentToLeaseLiability_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PecentageOfIndirectInterest_lbl0" xml:lang="en-US">The proportion of indirect interest in an associate attributable to the entity.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PecentageOfIndirectInterest" xlink:to="ello_PecentageOfIndirectInterest_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageDecreaseFromDoradHolding_lbl0" xml:lang="en-US">Percentage decrease from dorad holding.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageDecreaseFromDoradHolding" xlink:to="ello_PercentageDecreaseFromDoradHolding_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfAcquireCooperativesHoldings_lbl0" xml:lang="en-US">Percentage of acquire cooperatives holdings.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfAcquireCooperativesHoldings" xlink:to="ello_PercentageOfAcquireCooperativesHoldings_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfAverageProductionReduced_lbl0" xml:lang="en-US">Percentage of average production reduced</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfAverageProductionReduced" xlink:to="ello_PercentageOfAverageProductionReduced_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfChangeInForeignCurrency_lbl0" xml:lang="en-US">The percentage of spot exchange rate at the end of the reporting period.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfChangeInForeignCurrency" xlink:to="ello_PercentageOfChangeInForeignCurrency_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfDistributableProfit_lbl0" xml:lang="en-US">Percentage of distributable profit.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfDistributableProfit" xlink:to="ello_PercentageOfDistributableProfit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfEquityOnConsolidatedBasis_lbl0" xml:lang="en-US">Percentage of equity on consolidated basis.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfEquityOnConsolidatedBasis" xlink:to="ello_PercentageOfEquityOnConsolidatedBasis_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfExercisePrice_lbl0" xml:lang="en-US">Percentage of exercise price.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfExercisePrice" xlink:to="ello_PercentageOfExercisePrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfHedge_lbl0" xml:lang="en-US">Percentage of hedge.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfHedge" xlink:to="ello_PercentageOfHedge_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfImmediateRepaymentProvision_lbl0" xml:lang="en-US">Percentage of immediate repayment provision.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfImmediateRepaymentProvision" xlink:to="ello_PercentageOfImmediateRepaymentProvision_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfIncomeForProduction_lbl0" xml:lang="en-US">Represent the percentage percentage of income for production.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfIncomeForProduction" xlink:to="ello_PercentageOfIncomeForProduction_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfInterestIncreaseProvision_lbl0" xml:lang="en-US">Percentage of interest increase provision.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfInterestIncreaseProvision" xlink:to="ello_PercentageOfInterestIncreaseProvision_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfMaximumGuaranteedAmount_lbl0" xml:lang="en-US">Percentage of maximum guaranteed amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfMaximumGuaranteedAmount" xlink:to="ello_PercentageOfMaximumGuaranteedAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfMinorityInterestOfOwnershipInterestInAssociate_lbl0" xml:lang="en-US">It represents percentage of minority interest of ownership interest in associate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfMinorityInterestOfOwnershipInterestInAssociate" xlink:to="ello_PercentageOfMinorityInterestOfOwnershipInterestInAssociate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfNetWealthTaxRate_lbl0" xml:lang="en-US">Percentage of net wealth tax rate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfNetWealthTaxRate" xlink:to="ello_PercentageOfNetWealthTaxRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfProductionIncrease_lbl0" xml:lang="en-US">Percentage of production increase.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfProductionIncrease" xlink:to="ello_PercentageOfProductionIncrease_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfSecurityFundMonthlyReduction_lbl0" xml:lang="en-US">It represents percentage of security fund monthly reduction.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfSecurityFundMonthlyReduction" xlink:to="ello_PercentageOfSecurityFundMonthlyReduction_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfShareCapitalHolds_lbl0" xml:lang="en-US">The percentage of share capital holds.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfShareCapitalHolds" xlink:to="ello_PercentageOfShareCapitalHolds_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercetageOfTaxableProfitsExceeding_lbl0" xml:lang="en-US">Percetage of taxable profits exceeding.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercetageOfTaxableProfitsExceeding" xlink:to="ello_PercetageOfTaxableProfitsExceeding_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PeriodOfFinancialPowerSwap_lbl0" xml:lang="en-US">Period of financial power swap.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PeriodOfFinancialPowerSwap" xlink:to="ello_PeriodOfFinancialPowerSwap_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PeriodOfPlantOperate_lbl0" xml:lang="en-US">Period of plant operate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PeriodOfPlantOperate" xlink:to="ello_PeriodOfPlantOperate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PrepaidExpensesAssociatedWithLongTermLoans_lbl0" xml:lang="en-US">Prepaid expenses associated with long term loans.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PrepaidExpensesAssociatedWithLongTermLoans" xlink:to="ello_PrepaidExpensesAssociatedWithLongTermLoans_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PrepaymentOfOutstandingAmount_lbl0" xml:lang="en-US">Represents prepayment of the outstanding amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PrepaymentOfOutstandingAmount" xlink:to="ello_PrepaymentOfOutstandingAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PreviousFinancingAmount_lbl0" xml:lang="en-US">Represents amount of previous financing.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PreviousFinancingAmount" xlink:to="ello_PreviousFinancingAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PrincipalAmount_lbl0" xml:lang="en-US">Principal amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PrincipalAmount" xlink:to="ello_PrincipalAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PrincipalAmountOfEachUnitComprised_lbl0" xml:lang="en-US">Principal amount of each unit comprised.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PrincipalAmountOfEachUnitComprised" xlink:to="ello_PrincipalAmountOfEachUnitComprised_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PrincipalPaymentPercentage_lbl0" xml:lang="en-US">Percentage of principal payment.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PrincipalPaymentPercentage" xlink:to="ello_PrincipalPaymentPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProceedFromSettlementOfDerivativesNet_lbl0" xml:lang="en-US">Represents the amount of proceed from settlement of derivatives, net.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedFromSettlementOfDerivativesNet" xlink:to="ello_ProceedFromSettlementOfDerivativesNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProceedsFromAdvancesOnAccountOfInvestmentsInProcess_lbl0" xml:lang="en-US">Proceeds from advances on account of investments in process.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromAdvancesOnAccountOfInvestmentsInProcess" xlink:to="ello_ProceedsFromAdvancesOnAccountOfInvestmentsInProcess_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProceedsFromIssuanceOfConvertibleDebentures_lbl0" xml:lang="en-US">Represents the cash inflow from Proceeds from issuance of convertible debentures.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromIssuanceOfConvertibleDebentures" xlink:to="ello_ProceedsFromIssuanceOfConvertibleDebentures_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProceedsFromIssuanceOfDebenturesNet_lbl0" xml:lang="en-US">Represents Proceeds from issuance of Debentures, net .</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromIssuanceOfDebenturesNet" xlink:to="ello_ProceedsFromIssuanceOfDebenturesNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProceedsFromPrivatePlacement_lbl0" xml:lang="en-US">Proceeds from private placement.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromPrivatePlacement" xlink:to="ello_ProceedsFromPrivatePlacement_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProceedsFromSettlementOfDerivativesNet_lbl0" xml:lang="en-US">Proceeds from settlement of derivatives, net.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromSettlementOfDerivativesNet" xlink:to="ello_ProceedsFromSettlementOfDerivativesNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProceedsFrominvestmentInMarketableSecurities_lbl0" xml:lang="en-US">Proceeds from (investment in) marketable securities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFrominvestmentInMarketableSecurities" xlink:to="ello_ProceedsFrominvestmentInMarketableSecurities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProfessionalServicesGeneralAndAdministrativeExpenses_lbl0" xml:lang="en-US">Professional services in respect of general and administrative expenses.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProfessionalServicesGeneralAndAdministrativeExpenses" xlink:to="ello_ProfessionalServicesGeneralAndAdministrativeExpenses_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProfitFromSettlementOfDerivativesContract_lbl0" xml:lang="en-US">Represents Profit from settlement of derivatives contract.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProfitFromSettlementOfDerivativesContract" xlink:to="ello_ProfitFromSettlementOfDerivativesContract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProfitlossBeforeTaxesOnIncome_lbl0" xml:lang="en-US">Represent the amount of profit loss before taxes on income.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProfitlossBeforeTaxesOnIncome" xlink:to="ello_ProfitlossBeforeTaxesOnIncome_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProjectDevelopmentCosts_lbl0" xml:lang="en-US">Project development costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProjectDevelopmentCosts" xlink:to="ello_ProjectDevelopmentCosts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProjectFinancingAggregateAmount_lbl0" xml:lang="en-US">Project financing aggregate amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProjectFinancingAggregateAmount" xlink:to="ello_ProjectFinancingAggregateAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_QuarterlyRent_lbl0" xml:lang="en-US">Represents the payment of quarterly rent.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_QuarterlyRent" xlink:to="ello_QuarterlyRent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ReceivableFromConcessionProjectCurrentAssets_lbl0" xml:lang="en-US">Receivable from concession project.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReceivableFromConcessionProjectCurrentAssets" xlink:to="ello_ReceivableFromConcessionProjectCurrentAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ReceivableFromConcessionProjectNonCurrentAssets_lbl0" xml:lang="en-US">Receivable from concession project.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReceivableFromConcessionProjectNonCurrentAssets" xlink:to="ello_ReceivableFromConcessionProjectNonCurrentAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RecognizedAmountInEquity_lbl0" xml:lang="en-US">Recognized amount in equity.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RecognizedAmountInEquity" xlink:to="ello_RecognizedAmountInEquity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RecoveryOfAmountCommitted_lbl0" xml:lang="en-US">Recovery of amounts committed.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RecoveryOfAmountCommitted" xlink:to="ello_RecoveryOfAmountCommitted_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RefundAmountInClaim_lbl0" xml:lang="en-US">Refund amount to Dorado.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RefundAmountInClaim" xlink:to="ello_RefundAmountInClaim_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RemainingAmountOfAcquisition_lbl0" xml:lang="en-US">Remaining amount of Acquisition.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RemainingAmountOfAcquisition" xlink:to="ello_RemainingAmountOfAcquisition_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RemainingBorrowingsAmount_lbl0" xml:lang="en-US">Remaining principle Amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RemainingBorrowingsAmount" xlink:to="ello_RemainingBorrowingsAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RenewableEnergyProduced_lbl0" xml:lang="en-US">Renewable energy produced.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RenewableEnergyProduced" xlink:to="ello_RenewableEnergyProduced_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RepaymentOfLoanFromToEquityAccountedInvestee_lbl0" xml:lang="en-US">Repayment of loan from (to) an equity accounted investee.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaymentOfLoanFromToEquityAccountedInvestee" xlink:to="ello_RepaymentOfLoanFromToEquityAccountedInvestee_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RepaymentOfLongTermLoans_lbl0" xml:lang="en-US">Repayment of long term loans.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaymentOfLongTermLoans" xlink:to="ello_RepaymentOfLongTermLoans_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RepaymentOfSwapInstrumentAssociatedWithLongTermLoans_lbl0" xml:lang="en-US">Represent of amount of Repayment of SWAP instrument associated with long term loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaymentOfSwapInstrumentAssociatedWithLongTermLoans" xlink:to="ello_RepaymentOfSwapInstrumentAssociatedWithLongTermLoans_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RestrictedCashAndLongTermBankDeposits_lbl1" xml:lang="en-US">Restricted cash and long-term bank deposits.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RestrictedCashAndLongTermBankDeposits" xlink:to="ello_RestrictedCashAndLongTermBankDeposits_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars_lbl0" xml:lang="en-US">Results from operating activities, net of taxes on income.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars" xlink:to="ello_ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RightofuseAsset_lbl0" xml:lang="en-US">Right-of-use asset.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RightofuseAsset" xlink:to="ello_RightofuseAsset_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ScheduleOfChangeInInterestRateProfitLossTableTextBlock_lbl0" xml:lang="en-US">Schedule of change in interest rate profit (Loss).</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfChangeInInterestRateProfitLossTableTextBlock" xlink:to="ello_ScheduleOfChangeInInterestRateProfitLossTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ScheduleOfCompanysExposureToLinkageAndForeignCurrencyRiskTableTextBlock_lbl0" xml:lang="en-US">Schedule of Company&apos;s Exposure to Linkage and Foreign Currency Risk.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfCompanysExposureToLinkageAndForeignCurrencyRiskTableTextBlock" xlink:to="ello_ScheduleOfCompanysExposureToLinkageAndForeignCurrencyRiskTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ScheduleOfDisposalGroupsClassifiedAsHeldForSaleTableTextBlock_lbl0" xml:lang="en-US">Disclosure related to a disposal group classified as held for sale.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfDisposalGroupsClassifiedAsHeldForSaleTableTextBlock" xlink:to="ello_ScheduleOfDisposalGroupsClassifiedAsHeldForSaleTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ScheduleOfFairValuesHierarchyTableTextBlock_lbl0" xml:lang="en-US">Schedule of Fair Values Hierarchy.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfFairValuesHierarchyTableTextBlock" xlink:to="ello_ScheduleOfFairValuesHierarchyTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesTableTextBlock_lbl0" xml:lang="en-US">Schedule of Fair Values of the Other Financial Liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesTableTextBlock" xlink:to="ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsTableTextBlock_lbl0" xml:lang="en-US">Schedule of Interest Rates Used to Discount Estimated Cash Flows.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsTableTextBlock" xlink:to="ello_ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock_lbl0" xml:lang="en-US">Schedule of reconciliation financial instruments carried at fair value.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock" xlink:to="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock_lbl0" xml:lang="en-US">Schedule of sensitivity analysis of equity.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock" xlink:to="ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ScheduleOfTransactionsInDerivativeFinancialInstrumentsTableTextBlock_lbl0" xml:lang="en-US">Schedule of Transactions in Derivative Financial Instruments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfTransactionsInDerivativeFinancialInstrumentsTableTextBlock" xlink:to="ello_ScheduleOfTransactionsInDerivativeFinancialInstrumentsTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SecurityFundAmount_lbl0" xml:lang="en-US">Security fund amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SecurityFundAmount" xlink:to="ello_SecurityFundAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ShareBasedPaymentAwardOptionsContractualTerm_lbl0" xml:lang="en-US">Share based payment award options contractual term.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShareBasedPaymentAwardOptionsContractualTerm" xlink:to="ello_ShareBasedPaymentAwardOptionsContractualTerm_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ShareOfProfitLossOfEquityAccountedInvestees_lbl1" xml:lang="en-US">Represents share of profit or loss of equity accounted investees.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShareOfProfitLossOfEquityAccountedInvestees" xlink:to="ello_ShareOfProfitLossOfEquityAccountedInvestees_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ShareholdersLoans_lbl0" xml:lang="en-US">Shareholders loans.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShareholdersLoans" xlink:to="ello_ShareholdersLoans_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SharesValue_lbl0" xml:lang="en-US">Shares value.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SharesValue" xlink:to="ello_SharesValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ShortTermDeposits_lbl1" xml:lang="en-US">The amount of short-term deposits held by the entity.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShortTermDeposits" xlink:to="ello_ShortTermDeposits_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ShorttermLoansinDollars_lbl0" xml:lang="en-US">Represent the amount of short-term loans.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShorttermLoansinDollars" xlink:to="ello_ShorttermLoansinDollars_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_StandbyEquityGuarantee_lbl1" xml:lang="en-US">Represents the value of standby equity guarantee.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_StandbyEquityGuarantee" xlink:to="ello_StandbyEquityGuarantee_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SurplusCostsAndGoodwill_lbl0" xml:lang="en-US">Surplus costs and goodwill.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SurplusCostsAndGoodwill" xlink:to="ello_SurplusCostsAndGoodwill_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SystemOperatorCharges_lbl0" xml:lang="en-US">It represents system operator charges.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SystemOperatorCharges" xlink:to="ello_SystemOperatorCharges_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TaxBenefittaxesOnIncome_lbl0" xml:lang="en-US">Represent the amount of tax benefit taxes on income.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TaxBenefittaxesOnIncome" xlink:to="ello_TaxBenefittaxesOnIncome_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TaxLossCarryforwards_lbl0" xml:lang="en-US">Tax loss carryforwards.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TaxLossCarryforwards" xlink:to="ello_TaxLossCarryforwards_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TaxesInRespectToPreviousYearsAndOthers_lbl0" xml:lang="en-US">Taxes in respect to previous years and others.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TaxesInRespectToPreviousYearsAndOthers" xlink:to="ello_TaxesInRespectToPreviousYearsAndOthers_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TotalFinancingIncome_lbl0" xml:lang="en-US">Total financing income.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TotalFinancingIncome" xlink:to="ello_TotalFinancingIncome_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TotalInvestmentComposition_lbl1" xml:lang="en-US">Total investment composition.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TotalInvestmentComposition" xlink:to="ello_TotalInvestmentComposition_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TotalOperatingCosts_lbl0" xml:lang="en-US">Total operating costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TotalOperatingCosts" xlink:to="ello_TotalOperatingCosts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TotalRevenues_lbl0" xml:lang="en-US">Total Revenues.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TotalRevenues" xlink:to="ello_TotalRevenues_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TransactionReserveWithNonControllingInterests_lbl0" xml:lang="en-US">A component of equity representing transaction reserve with non-controlling interests within equity.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionReserveWithNonControllingInterests" xlink:to="ello_TransactionReserveWithNonControllingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TransferToDisposalGroupsHeldForSaleinDollars_lbl0" xml:lang="en-US">Represent the amount of transfer to disposal groups held for sale.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransferToDisposalGroupsHeldForSaleinDollars" xlink:to="ello_TransferToDisposalGroupsHeldForSaleinDollars_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TransferToDisposalGroupsHeldForSaleseeNote23_lbl0" xml:lang="en-US">Transfer to disposal groups held for sale.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransferToDisposalGroupsHeldForSaleseeNote23" xlink:to="ello_TransferToDisposalGroupsHeldForSaleseeNote23_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TransmissionNetworkPeriod_lbl0" xml:lang="en-US">Transmission network for a period.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransmissionNetworkPeriod" xlink:to="ello_TransmissionNetworkPeriod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_interestswapTransaction_lbl0" xml:lang="en-US">Interest swap transaction period.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_interestswapTransaction" xlink:to="ello_interestswapTransaction_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_weightedAverageNumberOfOrdinarySharesOptions_lbl0" xml:lang="en-US">Weighted average number of ordinary shares options.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_weightedAverageNumberOfOrdinarySharesOptions" xlink:to="ello_weightedAverageNumberOfOrdinarySharesOptions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TransactionAxis_lbl0" xml:lang="en-US">Transaction [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionAxis" xlink:to="ello_TransactionAxis_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ActualCompletionDateOfProjectMember_lbl0" xml:lang="en-US">Represents the actual completion date of the project.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ActualCompletionDateOfProjectMember" xlink:to="ello_ActualCompletionDateOfProjectMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AnaerobicDigestionPlantsNetherlandsMember_lbl0" xml:lang="en-US">Anaerobic digestion plants in the Netherlands [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AnaerobicDigestionPlantsNetherlandsMember" xlink:to="ello_AnaerobicDigestionPlantsNetherlandsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_BankLoanMember_lbl0" xml:lang="en-US">Bank Loan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BankLoanMember" xlink:to="ello_BankLoanMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_BankOfIsraelInterestRateMember_lbl0" xml:lang="en-US">This member stands for bank of Israel interest rate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BankOfIsraelInterestRateMember" xlink:to="ello_BankOfIsraelInterestRateMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_BiogasInstallationMember_lbl0" xml:lang="en-US">Biogas installation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BiogasInstallationMember" xlink:to="ello_BiogasInstallationMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_BiogasMember_lbl0" xml:lang="en-US">Bio Gas [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BiogasMember" xlink:to="ello_BiogasMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_BoardMemberAndEmployeesMember_lbl0" xml:lang="en-US">This member stands for board members and employees.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BoardMemberAndEmployeesMember" xlink:to="ello_BoardMemberAndEmployeesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CarryingAmountsMember_lbl0" xml:lang="en-US">Carrying Amounts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CarryingAmountsMember" xlink:to="ello_CarryingAmountsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CommercialOperationMember_lbl0" xml:lang="en-US">This member stands for commercial operation of project.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CommercialOperationMember" xlink:to="ello_CommercialOperationMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CompanyBalanceSheetMember_lbl0" xml:lang="en-US">Company&apos;s balance sheet [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompanyBalanceSheetMember" xlink:to="ello_CompanyBalanceSheetMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ConstructionPeriodOfProjectMember_lbl0" xml:lang="en-US">Represents the information during the construction period of the project.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConstructionPeriodOfProjectMember" xlink:to="ello_ConstructionPeriodOfProjectMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ConsumerPriceIndexInIsraelMember_lbl0" xml:lang="en-US">Consumer price index in Israel [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConsumerPriceIndexInIsraelMember" xlink:to="ello_ConsumerPriceIndexInIsraelMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ContractualCashFlowsMember_lbl0" xml:lang="en-US">Contractual cash flows [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ContractualCashFlowsMember" xlink:to="ello_ContractualCashFlowsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ConvertibleDebenturesMember_lbl0" xml:lang="en-US">Convertible debentures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConvertibleDebenturesMember" xlink:to="ello_ConvertibleDebenturesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CorporateIncomeTaxMember_lbl0" xml:lang="en-US">This member is stand for corporate income tax.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CorporateIncomeTaxMember" xlink:to="ello_CorporateIncomeTaxMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CreditFacilityMember_lbl0" xml:lang="en-US">Credit Facility [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CreditFacilityMember" xlink:to="ello_CreditFacilityMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrencyRiskEuroMember_lbl0" xml:lang="en-US">1 Euro [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencyRiskEuroMember" xlink:to="ello_CurrencyRiskEuroMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DecreaseOfOnePercentageMember_lbl0" xml:lang="en-US">Decrease of 1% [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DecreaseOfOnePercentageMember" xlink:to="ello_DecreaseOfOnePercentageMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DecreaseOfThreePercentageMember_lbl0" xml:lang="en-US">Decrease of 3% [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DecreaseOfThreePercentageMember" xlink:to="ello_DecreaseOfThreePercentageMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DevelopmentOfPvProjectsInItalyMember_lbl0" xml:lang="en-US">Development of PV Projects of Italy [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DevelopmentOfPvProjectsInItalyMember" xlink:to="ello_DevelopmentOfPvProjectsInItalyMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DoradEnergyLtdMember_lbl0" xml:lang="en-US">Dorad Energy Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoradEnergyLtdMember" xlink:to="ello_DoradEnergyLtdMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DoradMember_lbl0" xml:lang="en-US">Dorad [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoradMember" xlink:to="ello_DoradMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DoriEnergyLoanMember_lbl0" xml:lang="en-US">Dori Energy Loan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoriEnergyLoanMember" xlink:to="ello_DoriEnergyLoanMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DoriEnergyMember_lbl0" xml:lang="en-US">Dori Energy [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoriEnergyMember" xlink:to="ello_DoriEnergyMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DutchSubsidiariesMember_lbl0" xml:lang="en-US">Represents dutch subsidiaries member.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DutchSubsidiariesMember" xlink:to="ello_DutchSubsidiariesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EdelcomLtdMember_lbl0" xml:lang="en-US">Edelcom Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EdelcomLtdMember" xlink:to="ello_EdelcomLtdMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EilatAshkelonInfrastructureServicesLtdMember_lbl0" xml:lang="en-US">Eilat Ashkelon Infrastructure Services Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EilatAshkelonInfrastructureServicesLtdMember" xlink:to="ello_EilatAshkelonInfrastructureServicesLtdMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EllomayAndAmpaInvestmentsLtdMember_lbl0" xml:lang="en-US">Ellomay and Ampa Investments Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomayAndAmpaInvestmentsLtdMember" xlink:to="ello_EllomayAndAmpaInvestmentsLtdMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EllomayLuxembourgMember_lbl0" xml:lang="en-US">Ellomay Luxembourg [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomayLuxembourgMember" xlink:to="ello_EllomayLuxembourgMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EllomayPSMember_lbl0" xml:lang="en-US">Ellomay PS [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomayPSMember" xlink:to="ello_EllomayPSMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EllomayPumpedStorageMember_lbl0" xml:lang="en-US">Ellomay Pumped Storage [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomayPumpedStorageMember" xlink:to="ello_EllomayPumpedStorageMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EllomaySolarItalyOneSrlMember_lbl0" xml:lang="en-US">Ellomay Solar Italy One SRL [Member].</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomaySolarItalyOneSrlMember" xlink:to="ello_EllomaySolarItalyOneSrlMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EllomaySolarMember_lbl0" xml:lang="en-US">This member stand for Ellomay Solar.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomaySolarMember" xlink:to="ello_EllomaySolarMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EllomaySolarPhotovoltaicMember_lbl0" xml:lang="en-US">Ellomay Solar photovoltaic [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomaySolarPhotovoltaicMember" xlink:to="ello_EllomaySolarPhotovoltaicMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EllomaySpainRinconadaSecondMember_lbl0" xml:lang="en-US">Ellomay Spain - Rinconada II [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomaySpainRinconadaSecondMember" xlink:to="ello_EllomaySpainRinconadaSecondMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EuriborMember_lbl0" xml:lang="en-US">EURIBOR [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EuriborMember" xlink:to="ello_EuriborMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinancialAssetMember_lbl0" xml:lang="en-US">Financial assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancialAssetMember" xlink:to="ello_FinancialAssetMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinancialPowerSwapMember_lbl0" xml:lang="en-US">Financial power swap [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancialPowerSwapMember" xlink:to="ello_FinancialPowerSwapMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FuenteLibrillaMember_lbl0" xml:lang="en-US">Fuente Librilla [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FuenteLibrillaMember" xlink:to="ello_FuenteLibrillaMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GoorLoanAgreementMember_lbl0" xml:lang="en-US">Goor Loan Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GoorLoanAgreementMember" xlink:to="ello_GoorLoanAgreementMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GroenGasGelderlAndBvMember_lbl1" xml:lang="en-US">Groen Gas Gelderland B.V [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GroenGasGelderlAndBvMember" xlink:to="ello_GroenGasGelderlAndBvMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GroenGasGoorBVMember_lbl0" xml:lang="en-US">Groen Gas Goor B.V [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GroenGasGoorBVMember" xlink:to="ello_GroenGasGoorBVMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GroenGasOudeTongeBVMember_lbl1" xml:lang="en-US">Groen Gas Oude-Tonge B.V. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GroenGasOudeTongeBVMember" xlink:to="ello_GroenGasOudeTongeBVMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GseThreeUkLimitedAndFondIcoInfraestructurasIiFiccMember_lbl0" xml:lang="en-US">This member stands for gse three uk limited and fond ico infraestructuras ii, ficc.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GseThreeUkLimitedAndFondIcoInfraestructurasIiFiccMember" xlink:to="ello_GseThreeUkLimitedAndFondIcoInfraestructurasIiFiccMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IncreaseOfThreePercentageMember_lbl0" xml:lang="en-US">Increase of 3% [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseOfThreePercentageMember" xlink:to="ello_IncreaseOfThreePercentageMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IncreaseOnePercentageMember_lbl0" xml:lang="en-US">Increase of 1% [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseOnePercentageMember" xlink:to="ello_IncreaseOnePercentageMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_InterestSwapTransactionThreeMember_lbl0" xml:lang="en-US">Interest swap contract [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestSwapTransactionThreeMember" xlink:to="ello_InterestSwapTransactionThreeMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IsraeliConsortiumLoanAgreementMember_lbl0" xml:lang="en-US">Israeli consortium Loan Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IsraeliConsortiumLoanAgreementMember" xlink:to="ello_IsraeliConsortiumLoanAgreementMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ItalianTaxationMember_lbl0" xml:lang="en-US">Italian taxation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ItalianTaxationMember" xlink:to="ello_ItalianTaxationMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_KanirAndKeystoneRPHoldingsAndInvestmentsLtdMember_lbl0" xml:lang="en-US">This member stands for Kanir and Keystone R.P. Holdings and Investments Ltd.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_KanirAndKeystoneRPHoldingsAndInvestmentsLtdMember" xlink:to="ello_KanirAndKeystoneRPHoldingsAndInvestmentsLtdMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_KanirAndMeisafMember_lbl0" xml:lang="en-US">Kanir and Meisaf [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_KanirAndMeisafMember" xlink:to="ello_KanirAndMeisafMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_KanirMember_lbl0" xml:lang="en-US">This member stands for Kanir.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_KanirMember" xlink:to="ello_KanirMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_KeyManagementNonPersonnelOfEntityOrParentMember_lbl0" xml:lang="en-US">Non Employed [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_KeyManagementNonPersonnelOfEntityOrParentMember" xlink:to="ello_KeyManagementNonPersonnelOfEntityOrParentMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_KeystoneMember_lbl0" xml:lang="en-US">This member stands for Keystone.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_KeystoneMember" xlink:to="ello_KeystoneMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoanFromOthersOneMember_lbl0" xml:lang="en-US">Loan from others One [Member].</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanFromOthersOneMember" xlink:to="ello_LoanFromOthersOneMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoanFromOthersTwoMember_lbl0" xml:lang="en-US">Loan from others Two [Member].</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanFromOthersTwoMember" xlink:to="ello_LoanFromOthersTwoMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoansAndBorrowingsMember_lbl0" xml:lang="en-US">Loans and borrowings [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansAndBorrowingsMember" xlink:to="ello_LoansAndBorrowingsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoansFromBanksFourMember_lbl0" xml:lang="en-US">Loans from banks Four [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansFromBanksFourMember" xlink:to="ello_LoansFromBanksFourMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoansFromBanksMember_lbl0" xml:lang="en-US">Loans from banks [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansFromBanksMember" xlink:to="ello_LoansFromBanksMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoansFromBanksThreeMember_lbl0" xml:lang="en-US">Loans from banks Three [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansFromBanksThreeMember" xlink:to="ello_LoansFromBanksThreeMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoansFromBanksTwoMember_lbl0" xml:lang="en-US">Loans from banks Two [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansFromBanksTwoMember" xlink:to="ello_LoansFromBanksTwoMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LudaAndEllomayLuxemburgMember_lbl0" xml:lang="en-US">Ludan and Ellomay Luxemburg [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LudaAndEllomayLuxemburgMember" xlink:to="ello_LudaAndEllomayLuxemburgMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LuzonGroupMember_lbl0" xml:lang="en-US">Luzon Group [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LuzonGroupMember" xlink:to="ello_LuzonGroupMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ManaraPSPMember_lbl0" xml:lang="en-US">Manara PSP [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ManaraPSPMember" xlink:to="ello_ManaraPSPMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ManaraProjectMember_lbl0" xml:lang="en-US">Manara Project [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ManaraProjectMember" xlink:to="ello_ManaraProjectMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_MezzanineLoanMember_lbl0" xml:lang="en-US">This member stands for a class of financial assets that represents Mezzanine loans.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MezzanineLoanMember" xlink:to="ello_MezzanineLoanMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NetFinancialDebtMember_lbl0" xml:lang="en-US">Net Financial Debt [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NetFinancialDebtMember" xlink:to="ello_NetFinancialDebtMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NewFacilitiesAgreementMember_lbl0" xml:lang="en-US">New Facilities Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NewFacilitiesAgreementMember" xlink:to="ello_NewFacilitiesAgreementMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OfficeSpaceMember_lbl0" xml:lang="en-US">This member represents about office space.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OfficeSpaceMember" xlink:to="ello_OfficeSpaceMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OtherLongTermLoansMember_lbl1" xml:lang="en-US">Other long-term loans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherLongTermLoansMember" xlink:to="ello_OtherLongTermLoansMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OudeTongeLoanAgreementMember_lbl0" xml:lang="en-US">Oude Tonge Loan Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OudeTongeLoanAgreementMember" xlink:to="ello_OudeTongeLoanAgreementMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PhotovoltaicPlantsInSpainMember_lbl0" xml:lang="en-US">Photovoltaic plants in Spain [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PhotovoltaicPlantsInSpainMember" xlink:to="ello_PhotovoltaicPlantsInSpainMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PhotovoltaicPlantsSubsidiariesMember_lbl0" xml:lang="en-US">Photovoltaic Plants Subsidiaries [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PhotovoltaicPlantsSubsidiariesMember" xlink:to="ello_PhotovoltaicPlantsSubsidiariesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_Plan1998Member_lbl0" xml:lang="en-US">1998 Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_Plan1998Member" xlink:to="ello_Plan1998Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_Plan2000Member_lbl0" xml:lang="en-US">2000 Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_Plan2000Member" xlink:to="ello_Plan2000Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PumpedStorageHydroPowerPlantMember_lbl0" xml:lang="en-US">Anaerobic digestion plants [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PumpedStorageHydroPowerPlantMember" xlink:to="ello_PumpedStorageHydroPowerPlantMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PumpedStorageMember_lbl0" xml:lang="en-US">Pumped storage [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PumpedStorageMember" xlink:to="ello_PumpedStorageMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RabobankMember_lbl0" xml:lang="en-US">Rabobank [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RabobankMember" xlink:to="ello_RabobankMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ReconciliationsMember_lbl0" xml:lang="en-US">Reconciliations [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReconciliationsMember" xlink:to="ello_ReconciliationsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember_lbl0" xml:lang="en-US">Presentation currency translation Reserve [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember" xlink:to="ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ResidentAndNonResidentMember_lbl0" xml:lang="en-US">Resident and Non-Resident [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ResidentAndNonResidentMember" xlink:to="ello_ResidentAndNonResidentMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RevolvingCreditFacility1Member_lbl0" xml:lang="en-US">Revolving credit facility [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RevolvingCreditFacility1Member" xlink:to="ello_RevolvingCreditFacility1Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RodriguezFirstMember_lbl0" xml:lang="en-US">Rodriguez I [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RodriguezFirstMember" xlink:to="ello_RodriguezFirstMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RodriguezSecondMember_lbl0" xml:lang="en-US">Rodriguez II [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RodriguezSecondMember" xlink:to="ello_RodriguezSecondMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SemiAnnuallyMember_lbl0" xml:lang="en-US">Semi-annually [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SemiAnnuallyMember" xlink:to="ello_SemiAnnuallyMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SeniorSecuredTrancheMember_lbl0" xml:lang="en-US">Senior Secured Tranche[Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeniorSecuredTrancheMember" xlink:to="ello_SeniorSecuredTrancheMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SeriesCDebenturesMember_lbl0" xml:lang="en-US">Series C Debentures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeriesCDebenturesMember" xlink:to="ello_SeriesCDebenturesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SeriesDDebenturesMember_lbl1" xml:lang="en-US">Series D Debentures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeriesDDebenturesMember" xlink:to="ello_SeriesDDebenturesMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SeriesESecuredDebenturesMember_lbl0" xml:lang="en-US">This member represents about Series E Secured Debentures.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeriesESecuredDebenturesMember" xlink:to="ello_SeriesESecuredDebenturesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SeriesOneOptionsMember_lbl0" xml:lang="en-US">Series 1 Options [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeriesOneOptionsMember" xlink:to="ello_SeriesOneOptionsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SeriesOneOptionssMember_lbl0" xml:lang="en-US">Series 1 Options [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeriesOneOptionssMember" xlink:to="ello_SeriesOneOptionssMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ShevaMizrakotLtdMember_lbl0" xml:lang="en-US">Sheva Mizrakot Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShevaMizrakotLtdMember" xlink:to="ello_ShevaMizrakotLtdMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SpainshTaxationMember_lbl0" xml:lang="en-US">Spanish taxation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SpainshTaxationMember" xlink:to="ello_SpainshTaxationMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SpanishSubsidiariesMember_lbl0" xml:lang="en-US">Spanish subsidiaries [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SpanishSubsidiariesMember" xlink:to="ello_SpanishSubsidiariesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SubordinatedSecuredBTrancheMember_lbl0" xml:lang="en-US">Subordinated Secured B Tranche [Member].</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SubordinatedSecuredBTrancheMember" xlink:to="ello_SubordinatedSecuredBTrancheMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SwapContractsMember_lbl0" xml:lang="en-US">Swap contract [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SwapContractsMember" xlink:to="ello_SwapContractsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TalasolMember_lbl0" xml:lang="en-US">Talasol [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolMember" xlink:to="ello_TalasolMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TalasolProjectMember_lbl0" xml:lang="en-US">Talasol Project [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolProjectMember" xlink:to="ello_TalasolProjectMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TalasolSPAMember_lbl0" xml:lang="en-US">n/a</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolSPAMember" xlink:to="ello_TalasolSPAMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TalasolSolarSLUMember_lbl0" xml:lang="en-US">Talasol Solar S.L.U [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolSolarSLUMember" xlink:to="ello_TalasolSolarSLUMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TalmeiYosefMember_lbl0" xml:lang="en-US">Talmei Yosef [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalmeiYosefMember" xlink:to="ello_TalmeiYosefMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TheNetherlandsTaxationMember_lbl0" xml:lang="en-US">The Netherlands taxation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TheNetherlandsTaxationMember" xlink:to="ello_TheNetherlandsTaxationMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ThirtyJuneTwoThousandFortyFourMember_lbl0" xml:lang="en-US">Thirty June Two Thousand Forty Four [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ThirtyJuneTwoThousandFortyFourMember" xlink:to="ello_ThirtyJuneTwoThousandFortyFourMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ThirtyOneDecemberTwoThousandFortyTwoMember_lbl0" xml:lang="en-US">Thirty One December Two Thousand Forty Two [Member].</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ThirtyOneDecemberTwoThousandFortyTwoMember" xlink:to="ello_ThirtyOneDecemberTwoThousandFortyTwoMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TrancheFourMember_lbl0" xml:lang="en-US">Tranche Four [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TrancheFourMember" xlink:to="ello_TrancheFourMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TrancheOneMember_lbl0" xml:lang="en-US">Tranche One [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TrancheOneMember" xlink:to="ello_TrancheOneMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TrancheThreeMember_lbl0" xml:lang="en-US">Tranche Three [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TrancheThreeMember" xlink:to="ello_TrancheThreeMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TrancheTwoMember_lbl0" xml:lang="en-US">Tranche Two [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TrancheTwoMember" xlink:to="ello_TrancheTwoMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ZorluEnerjiElektrikUretimASMember_lbl0" xml:lang="en-US">Zorlu Enerji Elektrik Uretim A.S [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ZorluEnerjiElektrikUretimASMember" xlink:to="ello_ZorluEnerjiElektrikUretimASMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_AddressTypeDomain" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AddressTypeDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AddressTypeDomain_lbl" xml:lang="en-US">Address Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AddressTypeDomain" xlink:to="dei_AddressTypeDomain_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl0" xml:lang="en-US">Proportion of ownership interest in subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Liabilities_lbl4" xml:lang="en-US">Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_Liabilities_lbl4"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AggregateRepaymentOfDebenture_lbl1" xml:lang="en-US">Aggregate Repayment Of Debenture</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateRepaymentOfDebenture" xlink:to="ello_AggregateRepaymentOfDebenture_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DebenturesPayableTerm_lbl1" xml:lang="en-US">Debentures Payable Term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesPayableTerm" xlink:to="ello_DebenturesPayableTerm_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfCashAndCashEquivalentstableTextBlock_lbl1" xml:lang="en-US">Disclosure Of Cash And Cash Equivalentstable Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfCashAndCashEquivalentstableTextBlock" xlink:to="ello_DisclosureOfCashAndCashEquivalentstableTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DeferredRevenues_lbl1" xml:lang="en-US">Deferred Revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DeferredRevenues" xlink:to="ello_DeferredRevenues_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl0" xml:lang="en-US">Adjustments for increase (decrease) in trade accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfFairValuesHierarchyAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfFairValuesHierarchyAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfFairValuesHierarchyAbstract_lbl" xml:lang="en-US">Schedule Of Fair Values Hierarchy Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfFairValuesHierarchyAbstract" xlink:to="ello_ScheduleOfFairValuesHierarchyAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentFinancialAssets_lbl0" xml:lang="en-US">Non-current financial assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentFinancialAssets" xlink:to="ifrs-full_NoncurrentFinancialAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl1" xml:lang="en-US">Equity attributable to owners of parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ActualTaxBenefittaxesOnIncome_lbl1" xml:lang="en-US">Actual Tax Benefittaxes On Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ActualTaxBenefittaxesOnIncome" xlink:to="ello_ActualTaxBenefittaxesOnIncome_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ValuationTechniquesForDeterminingFairValueMember_lbl0" xml:lang="en-US">Valuation Techniques For Determining Fair Value Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ValuationTechniquesForDeterminingFairValueMember" xlink:to="ello_ValuationTechniquesForDeterminingFairValueMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_OneToFiveYearsMember_lbl0" xml:lang="en-US">One To Five Years Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OneToFiveYearsMember" xlink:to="ello_OneToFiveYearsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IssueOfEquity_lbl1" xml:lang="en-US">Issue of equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssueOfEquity" xlink:to="ifrs-full_IssueOfEquity_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl0" xml:lang="en-US">Disclosure of events after reporting period [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:to="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NonMonetaryMember_lbl0" xml:lang="en-US">Non Monetary Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonMonetaryMember" xlink:to="ello_NonMonetaryMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl1" xml:lang="en-US">Deferred tax liability (asset)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxLiabilityAsset_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditorName_lbl0" xml:lang="en-US">Auditor Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorName" xlink:to="dei_AuditorName_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CompositionOfInvestments_lbl1" xml:lang="en-US">Composition Of Investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompositionOfInvestments" xlink:to="ello_CompositionOfInvestments_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl0" xml:lang="en-US">Entity Well-known Seasoned Issuer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExercisePriceShareOptionsGranted2019_lbl0" xml:lang="en-US">Exercise price, share options granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExercisePriceShareOptionsGranted2019" xlink:to="ifrs-full_ExercisePriceShareOptionsGranted2019_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageOfChangeInForeignCurrency_lbl1" xml:lang="en-US">Percentage Of Change In Foreign Currency</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfChangeInForeignCurrency" xlink:to="ello_PercentageOfChangeInForeignCurrency_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TalmeiYosefSaleAgreementMember_lbl0" xml:lang="en-US">Talmei Yosef Sale Agreement Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalmeiYosefSaleAgreementMember" xlink:to="ello_TalmeiYosefSaleAgreementMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestReceivedClassifiedAsOperatingActivities_lbl0" xml:lang="en-US">Interest received, classified as operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:to="ifrs-full_InterestReceivedClassifiedAsOperatingActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IssuedCapitalMember_lbl0" xml:lang="en-US">Issued capital [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapitalMember" xlink:to="ifrs-full_IssuedCapitalMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageOfInterestIncreaseProvision_lbl1" xml:lang="en-US">Percentage Of Interest Increase Provision</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfInterestIncreaseProvision" xlink:to="ello_PercentageOfInterestIncreaseProvision_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CashFlowsFromDiscontinuedOperationAbstract_lbl0" xml:lang="en-US">Cash Flows From Discontinued Operation Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CashFlowsFromDiscontinuedOperationAbstract" xlink:to="ello_CashFlowsFromDiscontinuedOperationAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoanFromOthersTwoMember_lbl1" xml:lang="en-US">Loan From Others Two Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanFromOthersTwoMember" xlink:to="ello_LoanFromOthersTwoMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PaymentPercentage_lbl1" xml:lang="en-US">Payment Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentPercentage" xlink:to="ello_PaymentPercentage_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FixedAssetsNet_lbl1" xml:lang="en-US">Fixed Assets Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAssetsNet" xlink:to="ello_FixedAssetsNet_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Assets_lbl3" xml:lang="en-US">Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets_lbl3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl0" xml:lang="en-US">Intangible assets other than goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_OperatingLeaseAgreementTerm_lbl1" xml:lang="en-US">Operating Lease Agreement Term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OperatingLeaseAgreementTerm" xlink:to="ello_OperatingLeaseAgreementTerm_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory_lbl0" xml:lang="en-US">Disclosure of quantitative information about right-of-use assets [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PeriodOfPlantOperate_lbl1" xml:lang="en-US">Period Of Plant Operate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PeriodOfPlantOperate" xlink:to="ello_PeriodOfPlantOperate_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EuriborMember_lbl1" xml:lang="en-US">Euribor Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EuriborMember" xlink:to="ello_EuriborMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SpanishPVSegmentMember_lbl0" xml:lang="en-US">Spanish PVSegment Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SpanishPVSegmentMember" xlink:to="ello_SpanishPVSegmentMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TransactionAxis_lbl1" xml:lang="en-US">Transaction Axis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionAxis" xlink:to="ello_TransactionAxis_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_BorrowingsTransactionCosts_lbl2" xml:lang="en-US">Borrowings Transaction Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BorrowingsTransactionCosts" xlink:to="ello_BorrowingsTransactionCosts_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NonCurrentLiabilitiesAbstract_lbl0" xml:lang="en-US">Non Current Liabilities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonCurrentLiabilitiesAbstract" xlink:to="ello_NonCurrentLiabilitiesAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesAbstract_lbl" xml:lang="en-US">Schedule Of Movement In Liabilities Deriving From Financing Activities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesAbstract" xlink:to="ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory_lbl0" xml:lang="en-US">Disclosure of basis of preparation of financial statements [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" xlink:to="ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_a2022Abstract_lbl0" xml:lang="en-US">a2022 Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_a2022Abstract" xlink:to="ello_a2022Abstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_OtherLongTermLoansMember_lbl2" xml:lang="en-US">Other Long Term Loans Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherLongTermLoansMember" xlink:to="ello_OtherLongTermLoansMember_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FixedAssetsAndLeaseMember_lbl0" xml:lang="en-US">Fixed Assets And Lease Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAssetsAndLeaseMember" xlink:to="ello_FixedAssetsAndLeaseMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageOfEquityOnConsolidatedBasis_lbl1" xml:lang="en-US">Percentage Of Equity On Consolidated Basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfEquityOnConsolidatedBasis" xlink:to="ello_PercentageOfEquityOnConsolidatedBasis_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CapitalizedRent_lbl1" xml:lang="en-US">Capitalized Rent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CapitalizedRent" xlink:to="ello_CapitalizedRent_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PrincipalAmount_lbl1" xml:lang="en-US">Principal Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PrincipalAmount" xlink:to="ello_PrincipalAmount_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TrancheFourMember_lbl1" xml:lang="en-US">Tranche Four Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TrancheFourMember" xlink:to="ello_TrancheFourMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_lbl0" xml:lang="en-US">Adjustments for depreciation and amortisation expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:to="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisposalOfMajorSubsidiaryMember_lbl0" xml:lang="en-US">Disposal of major subsidiary [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisposalOfMajorSubsidiaryMember" xlink:to="ifrs-full_DisposalOfMajorSubsidiaryMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory_lbl1" xml:lang="en-US">Disclosure Of Detailed Information About Investment In Photovoltaic Plants Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RelevantTaxRate_lbl0" xml:lang="en-US">Relevant Tax Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RelevantTaxRate" xlink:to="ello_RelevantTaxRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl0" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ExtensionOfMaturityTermPeriod_lbl1" xml:lang="en-US">Extension Of Maturity Term Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ExtensionOfMaturityTermPeriod" xlink:to="ello_ExtensionOfMaturityTermPeriod_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CorporateIncomeTaxMember_lbl1" xml:lang="en-US">Corporate Income Tax Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CorporateIncomeTaxMember" xlink:to="ello_CorporateIncomeTaxMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentRegistrationStatement_lbl0" xml:lang="en-US">Document Registration Statement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentRegistrationStatement" xlink:to="dei_DocumentRegistrationStatement_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentTradeReceivables_lbl1" xml:lang="en-US">Non-current trade receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentTradeReceivables" xlink:to="ifrs-full_NoncurrentTradeReceivables_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FixedInterestRateMember_lbl0" xml:lang="en-US">Fixed interest rate [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FixedInterestRateMember" xlink:to="ifrs-full_FixedInterestRateMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ChangesInPropertyPlantAndEquipment_lbl0" xml:lang="en-US">Increase (decrease) in property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ChangesInPropertyPlantAndEquipment" xlink:to="ifrs-full_ChangesInPropertyPlantAndEquipment_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfBlackScholesOptionsPricingModelAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfBlackScholesOptionsPricingModelAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfBlackScholesOptionsPricingModelAbstract_lbl" xml:lang="en-US">Schedule Of Black Scholes Options Pricing Model Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfBlackScholesOptionsPricingModelAbstract" xlink:to="ello_ScheduleOfBlackScholesOptionsPricingModelAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsAbstract_lbl" xml:lang="en-US">Schedule Of Interest Rates Used To Discount Estimated Cash Flows Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsAbstract" xlink:to="ello_ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OperatingExpense_lbl2" xml:lang="en-US">Operating expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OperatingExpense" xlink:to="ifrs-full_OperatingExpense_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome_lbl0" xml:lang="en-US">Income tax relating to components of other comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShorttermBorrowings_lbl1" xml:lang="en-US">Current borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermBorrowings" xlink:to="ifrs-full_ShorttermBorrowings_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfSignificantExchangeRatesAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfSignificantExchangeRatesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfSignificantExchangeRatesAbstract_lbl" xml:lang="en-US">Schedule Of Significant Exchange Rates Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfSignificantExchangeRatesAbstract" xlink:to="ello_ScheduleOfSignificantExchangeRatesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember_lbl1" xml:lang="en-US">Level 3 of fair value hierarchy [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level3OfFairValueHierarchyMember" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoanToEquityAccountedInvestee_lbl1" xml:lang="en-US">Loan To Equity Accounted Investee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanToEquityAccountedInvestee" xlink:to="ello_LoanToEquityAccountedInvestee_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IssueOfWarrants_lbl1" xml:lang="en-US">Issue Of Warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IssueOfWarrants" xlink:to="ello_IssueOfWarrants_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromNoncurrentBorrowings_lbl0" xml:lang="en-US">Proceeds from non-current borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromNoncurrentBorrowings" xlink:to="ifrs-full_ProceedsFromNoncurrentBorrowings_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FixedMember_lbl0" xml:lang="en-US">Fixed Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedMember" xlink:to="ello_FixedMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SeparateMember_lbl0" xml:lang="en-US">Separate [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SeparateMember" xlink:to="ifrs-full_SeparateMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CreditFacilityMember_lbl1" xml:lang="en-US">Credit Facility Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CreditFacilityMember" xlink:to="ello_CreditFacilityMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl0" xml:lang="en-US">Key management personnel compensation, share-based payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:to="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TaxBenefittaxesOnIncome_lbl1" xml:lang="en-US">Tax Benefittaxes On Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TaxBenefittaxesOnIncome" xlink:to="ello_TaxBenefittaxesOnIncome_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DepreciatedTerm_lbl0" xml:lang="en-US">Depreciated Term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DepreciatedTerm" xlink:to="ello_DepreciatedTerm_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SeniorSecuredTrancheMember_lbl1" xml:lang="en-US">Senior Secured Tranche Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeniorSecuredTrancheMember" xlink:to="ello_SeniorSecuredTrancheMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromIssuingShares_lbl0" xml:lang="en-US">Proceeds from issuing shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromIssuingShares" xlink:to="ifrs-full_ProceedsFromIssuingShares_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl0" xml:lang="en-US">Entity Address, Address Line One</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfBorrowingsExplanatory_lbl0" xml:lang="en-US">Disclosure of borrowings [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:to="ifrs-full_DisclosureOfBorrowingsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine2_lbl0" xml:lang="en-US">Entity Address, Address Line Two</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NonCurrentAssetsLongTermReceivablesAbstract_lbl0" xml:lang="en-US">Non Current Assets Long Term Receivables Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonCurrentAssetsLongTermReceivablesAbstract" xlink:to="ello_NonCurrentAssetsLongTermReceivablesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InsuranceExpense_lbl0" xml:lang="en-US">Insurance expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InsuranceExpense" xlink:to="ifrs-full_InsuranceExpense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl0" xml:lang="en-US">Entity Incorporation, State or Country Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl0" xml:lang="en-US">Security Exchange Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfCurrentMaturitiesAndShortTermBankLoansAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfCurrentMaturitiesAndShortTermBankLoansAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfCurrentMaturitiesAndShortTermBankLoansAbstract_lbl" xml:lang="en-US">Schedule Of Current Maturities And Short Term Bank Loans Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfCurrentMaturitiesAndShortTermBankLoansAbstract" xlink:to="ello_ScheduleOfCurrentMaturitiesAndShortTermBankLoansAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ExpectedSpecialDividend_lbl1" xml:lang="en-US">Expected Special Dividend</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ExpectedSpecialDividend" xlink:to="ello_ExpectedSpecialDividend_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfFixedAssetsAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfFixedAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfFixedAssetsAbstract_lbl" xml:lang="en-US">Schedule Of Fixed Assets Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfFixedAssetsAbstract" xlink:to="ello_ScheduleOfFixedAssetsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NumberOfEmployeesForShortEmployeeBenefits_lbl1" xml:lang="en-US">Number Of Employees For Short Employee Benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfEmployeesForShortEmployeeBenefits" xlink:to="ello_NumberOfEmployeesForShortEmployeeBenefits_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows_lbl0" xml:lang="en-US">Non-derivative financial liabilities, undiscounted cash flows</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows" xlink:to="ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_InvestmentInShares_lbl2" xml:lang="en-US">Investment In Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InvestmentInShares" xlink:to="ello_InvestmentInShares_lbl2"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfDisposalGroupsClassifiedAsHeldForSaleAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfDisposalGroupsClassifiedAsHeldForSaleAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfDisposalGroupsClassifiedAsHeldForSaleAbstract_lbl" xml:lang="en-US">Schedule Of Disposal Groups Classified As Held For Sale Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfDisposalGroupsClassifiedAsHeldForSaleAbstract" xlink:to="ello_ScheduleOfDisposalGroupsClassifiedAsHeldForSaleAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesAuthorised_lbl0" xml:lang="en-US">Number of shares authorised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesAuthorised" xlink:to="ifrs-full_NumberOfSharesAuthorised_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountOfShareholdersFinancingCommitments_lbl1" xml:lang="en-US">Amount Of Shareholders Financing Commitments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfShareholdersFinancingCommitments" xlink:to="ello_AmountOfShareholdersFinancingCommitments_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisposalsPropertyPlantAndEquipment_lbl0" xml:lang="en-US">Disposals, property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:to="ifrs-full_DisposalsPropertyPlantAndEquipment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoansFromBanksMember_lbl1" xml:lang="en-US">Loans From Banks Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansFromBanksMember" xlink:to="ello_LoansFromBanksMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ContractualCommitmentsForAcquisitionOfIntangibleAssets_lbl0" xml:lang="en-US">Contractual commitments for acquisition of intangible assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContractualCommitmentsForAcquisitionOfIntangibleAssets" xlink:to="ifrs-full_ContractualCommitmentsForAcquisitionOfIntangibleAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl0" xml:lang="en-US">Title of 12(b) Security</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_MalakoffSolarSecondMember_lbl0" xml:lang="en-US">Malakoff Solar Second Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MalakoffSolarSecondMember" xlink:to="ello_MalakoffSolarSecondMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BankBorrowingsUndiscountedCashFlows_lbl1" xml:lang="en-US">Bank borrowings, undiscounted cash flows</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BankBorrowingsUndiscountedCashFlows" xlink:to="ifrs-full_BankBorrowingsUndiscountedCashFlows_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted_lbl0" xml:lang="en-US">Weighted average fair value at measurement date, share options granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted" xlink:to="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RentalTerms_lbl0" xml:lang="en-US">Rental Terms</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RentalTerms" xlink:to="ello_RentalTerms_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_BiogasInstallationMember_lbl1" xml:lang="en-US">Biogas Installation Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BiogasInstallationMember" xlink:to="ello_BiogasInstallationMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_lbl0" xml:lang="en-US">Disclosure of share-based payment arrangements [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:to="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RightofuseAsset_lbl1" xml:lang="en-US">Rightofuse Asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RightofuseAsset" xlink:to="ello_RightofuseAsset_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl0" xml:lang="en-US">Current tax liabilities, current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:to="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SwapContractMember_lbl1" xml:lang="en-US">Swap contract [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SwapContractMember" xlink:to="ifrs-full_SwapContractMember_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfLoansAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfLoansAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfLoansAbstract_lbl" xml:lang="en-US">Schedule Of Loans Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfLoansAbstract" xlink:to="ello_ScheduleOfLoansAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl0" xml:lang="en-US">Trade payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:to="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_ContactPersonnelName_lbl0" xml:lang="en-US">Contact Personnel Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_ContactPersonnelName" xlink:to="dei_ContactPersonnelName_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TransferToDisposalGroupsHeldForSaleinDollars_lbl1" xml:lang="en-US">Transfer To Disposal Groups Held For Salein Dollars</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransferToDisposalGroupsHeldForSaleinDollars" xlink:to="ello_TransferToDisposalGroupsHeldForSaleinDollars_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities_lbl1" xml:lang="en-US">Description of inputs used in fair value measurement, liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities" xlink:to="ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsOriginalCurrency_lbl0" xml:lang="en-US">Borrowings, original currency</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsOriginalCurrency" xlink:to="ifrs-full_BorrowingsOriginalCurrency_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherPropertyPlantAndEquipmentMember_lbl0" xml:lang="en-US">Other property, plant and equipment [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:to="ifrs-full_OtherPropertyPlantAndEquipmentMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences_lbl0" xml:lang="en-US">Deferred tax expense (income) relating to origination and reversal of temporary differences</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_GreenGasProductionCapacityLevel_lbl1" xml:lang="en-US">Green Gas Production Capacity Level</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GreenGasProductionCapacityLevel" xlink:to="ello_GreenGasProductionCapacityLevel_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProceedsFromPrivatePlacement_lbl1" xml:lang="en-US">Proceeds From Private Placement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromPrivatePlacement" xlink:to="ello_ProceedsFromPrivatePlacement_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl2" xml:lang="en-US">Number of share options outstanding in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOutstandingShareOptions" xlink:to="ifrs-full_NumberOfOutstandingShareOptions_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmortizationOfCapitalizedExpensesRelatedToProjectsFinance_lbl1" xml:lang="en-US">Amortization Of Capitalized Expenses Related To Projects Finance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmortizationOfCapitalizedExpensesRelatedToProjectsFinance" xlink:to="ello_AmortizationOfCapitalizedExpensesRelatedToProjectsFinance_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CompanysShareholders_lbl1" xml:lang="en-US">Companys Shareholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompanysShareholders" xlink:to="ello_CompanysShareholders_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TalmeiYosefMember_lbl1" xml:lang="en-US">Talmei Yosef Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalmeiYosefMember" xlink:to="ello_TalmeiYosefMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_OtherGeneralAndAdministrativeExpenses_lbl1" xml:lang="en-US">Other General And Administrative Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherGeneralAndAdministrativeExpenses" xlink:to="ello_OtherGeneralAndAdministrativeExpenses_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyReport_lbl0" xml:lang="en-US">Document Shell Company Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyReport" xlink:to="dei_DocumentShellCompanyReport_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl0" xml:lang="en-US">Effect of exchange rate changes on cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PecentageOfIndirectInterest_lbl1" xml:lang="en-US">Pecentage Of Indirect Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PecentageOfIndirectInterest" xlink:to="ello_PecentageOfIndirectInterest_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EilatAshkelonInfrastructureServicesLtdMember_lbl1" xml:lang="en-US">Eilat Ashkelon Infrastructure Services Ltd Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EilatAshkelonInfrastructureServicesLtdMember" xlink:to="ello_EilatAshkelonInfrastructureServicesLtdMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EffectOfChangesInExchangeRatesToRightOfUseAssets_lbl1" xml:lang="en-US">Effect Of Changes In Exchange Rates To Right Of Use Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EffectOfChangesInExchangeRatesToRightOfUseAssets" xlink:to="ello_EffectOfChangesInExchangeRatesToRightOfUseAssets_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilities_lbl1" xml:lang="en-US">Financial liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilities" xlink:to="ifrs-full_FinancialLiabilities_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets_lbl0" xml:lang="en-US">Adjustments for decrease (increase) in other assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers_lbl1" xml:lang="en-US">Current Year Tax Losses And Benefits For Which Deferred Taxes Were Not Created Reserve Of Uncertain Tax Position And Others</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers" xlink:to="ello_CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageOfDistributableProfit_lbl1" xml:lang="en-US">Percentage Of Distributable Profit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfDistributableProfit" xlink:to="ello_PercentageOfDistributableProfit_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod_lbl0" xml:lang="en-US">Explanation of changes in applicable tax rates to previous accounting period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod" xlink:to="ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DerivativeFinancialAssets_lbl0" xml:lang="en-US">Derivative financial assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DerivativeFinancialAssets" xlink:to="ifrs-full_DerivativeFinancialAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentPortionOfNoncurrentLoansReceived_lbl0" xml:lang="en-US">Non-current portion of non-current loans received</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentPortionOfNoncurrentLoansReceived" xlink:to="ifrs-full_NoncurrentPortionOfNoncurrentLoansReceived_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss_lbl0" xml:lang="en-US">Expenses on financial assets reclassified out of financial assets at fair value through profit or loss recognised in profit or loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss" xlink:to="ifrs-full_ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AggregateGrossConsideration_lbl2" xml:lang="en-US">Aggregate Gross Consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateGrossConsideration" xlink:to="ello_AggregateGrossConsideration_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentInvestments_lbl0" xml:lang="en-US">Current investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentInvestments" xlink:to="ifrs-full_CurrentInvestments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_OudeTongeLoanAgreementMember_lbl1" xml:lang="en-US">Oude Tonge Loan Agreement Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OudeTongeLoanAgreementMember" xlink:to="ello_OudeTongeLoanAgreementMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DutchSubsidiariesMember_lbl1" xml:lang="en-US">Dutch Subsidiaries Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DutchSubsidiariesMember" xlink:to="ello_DutchSubsidiariesMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SeriesOneOptionssMember_lbl1" xml:lang="en-US">Series One Optionss Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeriesOneOptionssMember" xlink:to="ello_SeriesOneOptionssMember_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfMaturityAnalysisOfCompanysLeaseLiabilitiesAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfMaturityAnalysisOfCompanysLeaseLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfMaturityAnalysisOfCompanysLeaseLiabilitiesAbstract_lbl" xml:lang="en-US">Schedule Of Maturity Analysis Of Companys Lease Liabilities Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ComprehensiveIncomeloss_lbl1" xml:lang="en-US">Comprehensive Incomeloss</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FinancingExpensesMember_lbl0" xml:lang="en-US">Financing Expenses Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FinanceProvidedByOwners_lbl1" xml:lang="en-US">Finance Provided By Owners</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CorporateLoansMember_lbl0" xml:lang="en-US">Loans to corporate entities [member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EllomayLuzonEnergyMember_lbl0" xml:lang="en-US">Ellomay Luzon Energy Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageOfSecurityFundMonthlyReduction_lbl1" xml:lang="en-US">Percentage Of Security Fund Monthly Reduction</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss_lbl1" xml:lang="en-US">Net Change In Fair Value Of Cash Flow Hedges Transferred To Profit Or Loss</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for financial instruments [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RepaymentOfLongTermLoans_lbl1" xml:lang="en-US">Repayment Of Long Term Loans</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfessionalFeesExpense_lbl0" xml:lang="en-US">Professional fees expense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory_lbl0" xml:lang="en-US">Disclosure of effect of changes in foreign exchange rates [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_KeyManagementNonPersonnelOfEntityOrParentMember_lbl1" xml:lang="en-US">Key Management Non Personnel Of Entity Or Parent Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ItalianTaxationMember_lbl1" xml:lang="en-US">Italian Taxation Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DescriptionOfCurrencyLinkageReceivable_lbl1" xml:lang="en-US">Description Of Currency Linkage Receivable</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RightofuseAssets_lbl2" xml:lang="en-US">Right-of-use assets</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SurplusCostsAndGoodwill_lbl1" xml:lang="en-US">Surplus Costs And Goodwill</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfDetailedInformationAboutChangesInInvestmentsExplanatory_lbl1" xml:lang="en-US">Disclosure Of Detailed Information About Changes In Investments Explanatory</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl2" xml:lang="en-US">Depreciation and amortisation expense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl0" xml:lang="en-US">Risk free interest rate, share options granted</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl0" xml:lang="en-US">Purchase of property, plant and equipment, classified as investing activities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory_lbl0" xml:lang="en-US">Disclosure of related party [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrentAssetsTradeAndOtherReceivablesAbstract_lbl0" xml:lang="en-US">Current Assets Trade And Other Receivables Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PreviousFinancingAmount_lbl1" xml:lang="en-US">Previous Financing Amount</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProjectFinancingAggregateAmount_lbl1" xml:lang="en-US">Project Financing Aggregate Amount</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl0" xml:lang="en-US">Comprehensive income, attributable to non-controlling interests</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountOfAcquisition_lbl1" xml:lang="en-US">Amount Of Acquisition</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_KanirAndKeystoneRPHoldingsAndInvestmentsLtdMember_lbl1" xml:lang="en-US">Kanir And Keystone RPHoldings And Investments Ltd Member</label>
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    <loc xlink:type="locator" xlink:label="ello_ScheduleOfNumberAndWeightedAverageExercisePricesOfShareOptionsAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfNumberAndWeightedAverageExercisePricesOfShareOptionsAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment_lbl0" xml:lang="en-US">Mainly Useful Lives Or Depreciation Rate Property Plant And Equipment</label>
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    <loc xlink:type="locator" xlink:label="ello_ScheduleOfInformationOnFinancialPositionAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfInformationOnFinancialPositionAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReserveOfChangeInValueOfForeignCurrencyBasisSpreadsMember_lbl0" xml:lang="en-US">Reserve of change in value of foreign currency basis spreads [member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PrepaidExpensesAssociatedWithLongTermLoans_lbl1" xml:lang="en-US">Prepaid Expenses Associated With Long Term Loans</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_KanirAndMeisafMember_lbl1" xml:lang="en-US">Kanir And Meisaf Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory_lbl0" xml:lang="en-US">Disclosure of cash and cash equivalents [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RodriguezFirstMember_lbl1" xml:lang="en-US">Rodriguez First Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_BorrowingInterestRate_lbl0" xml:lang="en-US">Borrowing Interest Rate</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract_lbl0" xml:lang="en-US">Equity and liabilities [abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SharesValue_lbl1" xml:lang="en-US">Shares Value</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrencyRiskNisMember_lbl0" xml:lang="en-US">Currency Risk Nis Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_OrdinarySharesAvailableForFutureGrants_lbl1" xml:lang="en-US">Ordinary Shares Available For Future Grants</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement_lbl0" xml:lang="en-US">Number of share options expired in share-based payment arrangement</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_MarketableSecuritiesMember_lbl0" xml:lang="en-US">Marketable Securities Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent_lbl1" xml:lang="en-US">Employees And Payroll Related Agencies Liabilities Current</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_lbl0" xml:lang="en-US">Financial instruments designated as hedging instruments, at fair value</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BondsIssuedUndiscountedCashFlows_lbl1" xml:lang="en-US">Bonds issued, undiscounted cash flows</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ManaraPSPMember_lbl1" xml:lang="en-US">Manara PSPMember</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EllomaySolarPhotovoltaicMember_lbl1" xml:lang="en-US">Ellomay Solar Photovoltaic Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_GroenGasGoorBVMember_lbl1" xml:lang="en-US">Groen Gas Goor BVMember</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TotalFinancingIncome_lbl1" xml:lang="en-US">Total Financing Income</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets_lbl1" xml:lang="en-US">Current derivative financial assets</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossFromContinuingOperations_lbl0" xml:lang="en-US">Profit (loss) from continuing operations</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TalcoSolarMember_lbl0" xml:lang="en-US">Talco Solar Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LongTermInvestment_lbl1" xml:lang="en-US">Long Term Investment</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PhotovoltaicPlantsSubsidiariesMember_lbl1" xml:lang="en-US">Photovoltaic Plants Subsidiaries Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TalasolPVSegmentMember_lbl0" xml:lang="en-US">Talasol PVSegment Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BankAcceptanceLiabilities_lbl0" xml:lang="en-US">Bank acceptance liabilities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SolarItalyTwoMember_lbl0" xml:lang="en-US">Solar Italy Two Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepositsFromBanks_lbl0" xml:lang="en-US">Deposits from banks</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl0" xml:lang="en-US">Document Type</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EffectOfChangesInForeignExchangeRates_lbl1" xml:lang="en-US">Effect Of Changes In Foreign Exchange Rates</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForServiceConcessionArrangementsExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for service concession arrangements [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityInterestsOfAcquirer_lbl0" xml:lang="en-US">Equity interests of acquirer</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ShevaMizrakotLtdMember_lbl1" xml:lang="en-US">Sheva Mizrakot Ltd Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_KanirMember_lbl1" xml:lang="en-US">Kanir Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WagesAndSalaries_lbl0" xml:lang="en-US">Wages and salaries</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SeriesFDebenturesMember_lbl0" xml:lang="en-US">Series FDebentures Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CompositionOfAdvancesOnAccountOfInvestments_lbl1" xml:lang="en-US">Composition Of Advances On Account Of Investments</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageOfNetWealthTaxRate_lbl1" xml:lang="en-US">Percentage Of Net Wealth Tax Rate</label>
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    <loc xlink:type="locator" xlink:label="ello_ScheduleOfRightOfUseAssetsAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfRightOfUseAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfRightOfUseAssetsAbstract_lbl" xml:lang="en-US">Schedule Of Right Of Use Assets Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl1" xml:lang="en-US">Tax expense (income)</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory_lbl0" xml:lang="en-US">Disclosure of maturity analysis of operating lease payments [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_InterestSwapTransactionThreeMember_lbl1" xml:lang="en-US">Interest Swap Transaction Three Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_lbl0" xml:lang="en-US">Disclosure of general information about financial statements [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageShares_lbl0" xml:lang="en-US">Weighted average number of ordinary shares used in calculating basic earnings per share</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DescriptionOfDebtEquityRatioAndHoldings_lbl1" xml:lang="en-US">Description Of Debt Equity Ratio And Holdings</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsExplanatory_lbl0" xml:lang="en-US">Disclosure of financial instruments [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoanToOthersinDollars_lbl1" xml:lang="en-US">Loan To Othersin Dollars</label>
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    <loc xlink:type="locator" xlink:label="ello_ScheduleOfAggregateAnnualMaturitiesAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfAggregateAnnualMaturitiesAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DepositAsSecurityForLetterOfCredit_lbl1" xml:lang="en-US">Deposit As Security For Letter Of Credit</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfAmountsIncurredByEntityForProvisionOfKeyManagementPersonnelServicesProvidedBySeparateManagementEntitiesExplanatory_lbl0" xml:lang="en-US">Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_GreenGasProductionCapacity_lbl1" xml:lang="en-US">Green Gas Production Capacity</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MiscellaneousOtherOperatingExpense_lbl0" xml:lang="en-US">Miscellaneous other operating expense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProfessionalServicesGeneralAndAdministrativeExpenses_lbl1" xml:lang="en-US">Professional Services General And Administrative Expenses</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DescriptionOfCurrencyLinkagePayable_lbl1" xml:lang="en-US">Description Of Currency Linkage Payable</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_a2022Abstract0_lbl0" xml:lang="en-US">a2022 Abstract0</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FinancingIncomeExpensesInConnectionWithDerivativesNet_lbl1" xml:lang="en-US">Financing Income Expenses In Connection With Derivatives Net</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="currency_EUR_lbl0" xml:lang="en-US">Euro Member Countries, Euro</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale_lbl0" xml:lang="en-US">Cash and cash equivalents classified as part of disposal group held for sale</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_BoardMemberAndEmployeesMember_lbl1" xml:lang="en-US">Board Member And Employees Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_GroenGasGelderlAndBvMember_lbl2" xml:lang="en-US">Groen Gas Gelderl And Bv Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl2" xml:lang="en-US">Basic earnings (loss) per share</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_lbl0" xml:lang="en-US">Additions other than through business combinations, property, plant and equipment</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesOfDiscontinuedOperations_lbl0" xml:lang="en-US">Tax expense (income) relating to profit (loss) from ordinary activities of discontinued operations</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsAbstract_lbl0" xml:lang="en-US">Assets [abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_MexiaSolarSecondMember_lbl0" xml:lang="en-US">Mexia Solar Second Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory_lbl1" xml:lang="en-US">Disclosure Of Detailed Information About Movement In Liabilities Deriving From Financing Activities Explanatory</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_GroenGasGelderlandBVMember_lbl0" xml:lang="en-US">Groen Gas Gelderland BVMember</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember_lbl0" xml:lang="en-US">Disposal groups classified as held for sale [member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentAssets_lbl1" xml:lang="en-US">Current assets</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_MalakoffSolarOneMember_lbl0" xml:lang="en-US">Malakoff Solar One Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ManaraProjectMember_lbl1" xml:lang="en-US">Manara Project Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LinkageValueOfLoansAndBorrowings_lbl1" xml:lang="en-US">Linkage Value Of Loans And Borrowings</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LeaseholdImprovements_lbl0" xml:lang="en-US">Leasehold Improvements</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_lbl0" xml:lang="en-US">Current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:to="ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTax_lbl0" xml:lang="en-US">Other comprehensive income, before tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeBeforeTax" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTax_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ConsumerPriceIndexInIsraelMember_lbl1" xml:lang="en-US">Consumer Price Index In Israel Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_OperatingCostsDepreciationAndAmortizationMember_lbl0" xml:lang="en-US">Operating Costs Depreciation And Amortization Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OperatingCostsDepreciationAndAmortizationMember" xlink:to="ello_OperatingCostsDepreciationAndAmortizationMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RestrictedCashAndBankDepositsMember_lbl0" xml:lang="en-US">Restricted Cash And Bank Deposits Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RestrictedCashAndBankDepositsMember" xlink:to="ello_RestrictedCashAndBankDepositsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl0" xml:lang="en-US">Later than four years and not later than five years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AnaerobicDigestionPlantsNetherlandsMember_lbl1" xml:lang="en-US">Anaerobic Digestion Plants Netherlands Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AnaerobicDigestionPlantsNetherlandsMember" xlink:to="ello_AnaerobicDigestionPlantsNetherlandsMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TopOfRangeMember_lbl1" xml:lang="en-US">Top of range [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_StandbyEquityGuarantee_lbl2" xml:lang="en-US">Standby Equity Guarantee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_StandbyEquityGuarantee" xlink:to="ello_StandbyEquityGuarantee_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_InterestAndCommissionsRelatedToProjectsFinance_lbl1" xml:lang="en-US">Interest And Commissions Related To Projects Finance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestAndCommissionsRelatedToProjectsFinance" xlink:to="ello_InterestAndCommissionsRelatedToProjectsFinance_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetForeignExchangeLoss_lbl0" xml:lang="en-US">Net foreign exchange loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetForeignExchangeLoss" xlink:to="ifrs-full_NetForeignExchangeLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IsraeliConsortiumLoanAgreementMember_lbl1" xml:lang="en-US">Israeli Consortium Loan Agreement Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IsraeliConsortiumLoanAgreementMember" xlink:to="ello_IsraeliConsortiumLoanAgreementMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IncomeStatementsLocationAxis_lbl0" xml:lang="en-US">Income Statements Location Axis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncomeStatementsLocationAxis" xlink:to="ello_IncomeStatementsLocationAxis_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_lbl0" xml:lang="en-US">Weighted average exercise price of share options expired in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RetainedEarningsMember_lbl0" xml:lang="en-US">Retained earnings [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarningsMember" xlink:to="ifrs-full_RetainedEarningsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DecreaseEquityMember_lbl0" xml:lang="en-US">Decrease Equity Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DecreaseEquityMember" xlink:to="ello_DecreaseEquityMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueAbstract_lbl" xml:lang="en-US">Schedule Of Reconciliation Financial Instruments Carried At Fair Value Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueAbstract" xlink:to="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_InputsUsedToDetermineFairValueMember_lbl0" xml:lang="en-US">Inputs Used To Determine Fair Value Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InputsUsedToDetermineFairValueMember" xlink:to="ello_InputsUsedToDetermineFairValueMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements_lbl1" xml:lang="en-US">Description Of Other Accounting Policies Relevant To Understanding Of Financial Statements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements" xlink:to="ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ChangesFromFinancingActivitiesAbstract_lbl0" xml:lang="en-US">Changes From Financing Activities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ChangesFromFinancingActivitiesAbstract" xlink:to="ello_ChangesFromFinancingActivitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations_lbl0" xml:lang="en-US">Cash flows from (used in) operating activities, discontinued operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CostAbstract_lbl0" xml:lang="en-US">Cost Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLoss_lbl0" xml:lang="en-US">Adjustments to reconcile profit (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLoss" xlink:to="ifrs-full_AdjustmentsForReconcileProfitLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForDeferredTaxExpense_lbl0" xml:lang="en-US">Adjustments for deferred tax expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDeferredTaxExpense" xlink:to="ifrs-full_AdjustmentsForDeferredTaxExpense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TalasolSpainMember_lbl0" xml:lang="en-US">Talasol Spain Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolSpainMember" xlink:to="ello_TalasolSpainMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EdelcomLtdMember_lbl1" xml:lang="en-US">Edelcom Ltd Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EdelcomLtdMember" xlink:to="ello_EdelcomLtdMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentAssets_lbl1" xml:lang="en-US">Non-current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_NoncurrentAssets_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_ConsolidatedStatementsOfChangesInEquityAbstract" xlink:href="ello-20231231.xsd#ello_ConsolidatedStatementsOfChangesInEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ConsolidatedStatementsOfChangesInEquityAbstract_lbl" xml:lang="en-US">Consolidated Statements Of Changes In Equity Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConsolidatedStatementsOfChangesInEquityAbstract" xlink:to="ello_ConsolidatedStatementsOfChangesInEquityAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl0" xml:lang="en-US">Expected dividend as percentage, share options granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:to="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EarningsPerShareExplanatory_lbl0" xml:lang="en-US">Earnings per share [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EarningsPerShareExplanatory" xlink:to="ifrs-full_EarningsPerShareExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExplanatory_lbl0" xml:lang="en-US">Disclosure of finance income [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinanceIncomeExplanatory" xlink:to="ifrs-full_DisclosureOfFinanceIncomeExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GrossLeaseLiabilities_lbl0" xml:lang="en-US">Gross lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossLeaseLiabilities" xlink:to="ifrs-full_GrossLeaseLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory_lbl0" xml:lang="en-US">Disclosure of disaggregation of revenue from contracts with customers [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_lbl0" xml:lang="en-US">Increase (decrease) in cash and cash equivalents after effect of exchange rate changes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountWithdrawnFromLoanAccount_lbl1" xml:lang="en-US">Amount Withdrawn From Loan Account</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl0" xml:lang="en-US">Comprehensive income attributable to [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfWeightedAverageFairValuesAndExercisePriceAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfWeightedAverageFairValuesAndExercisePriceAbstract"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfWeightedAverageFairValuesAndExercisePriceAbstract" xlink:to="ello_ScheduleOfWeightedAverageFairValuesAndExercisePriceAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ReceivableFromConcessionProjectCurrentAssets_lbl1" xml:lang="en-US">Receivable From Concession Project Current Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReceivableFromConcessionProjectCurrentAssets" xlink:to="ello_ReceivableFromConcessionProjectCurrentAssets_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NumberOfEmployeesForPostEmploymentBenefits_lbl1" xml:lang="en-US">Number Of Employees For Post Employment Benefits</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueFromSaleOfOilAndGasProducts_lbl0" xml:lang="en-US">Revenue from sale of oil and gas products</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromSaleOfOilAndGasProducts" xlink:to="ifrs-full_RevenueFromSaleOfOilAndGasProducts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ManaraPspEpcAgreementMember_lbl0" xml:lang="en-US">Manara Psp Epc Agreement Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ManaraPspEpcAgreementMember" xlink:to="ello_ManaraPspEpcAgreementMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl0" xml:lang="en-US">Expected volatility, share options granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCurrentPayables_lbl2" xml:lang="en-US">Other current payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentPayables" xlink:to="ifrs-full_OtherCurrentPayables_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CashandCashEquivalentsTablesLineItems_lbl0" xml:lang="en-US">Cashand Cash Equivalents Tables Line Items</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepreciationExpense_lbl1" xml:lang="en-US">Depreciation expense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsExplanatory_lbl0" xml:lang="en-US">Disclosure of operating segments [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanFiveYearsAndNotLaterThanSevenYearsMember_lbl0" xml:lang="en-US">Later than five years and not later than seven years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFiveYearsAndNotLaterThanSevenYearsMember" xlink:to="ifrs-full_LaterThanFiveYearsAndNotLaterThanSevenYearsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory_lbl0" xml:lang="en-US">Disclosure of number and weighted average exercise prices of other equity instruments [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory" xlink:to="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LongTermLoansExtended_lbl1" xml:lang="en-US">Long Term Loans Extended</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LongTermLoansExtended" xlink:to="ello_LongTermLoansExtended_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountOfMaximumNetWealthTax_lbl1" xml:lang="en-US">Amount Of Maximum Net Wealth Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfMaximumNetWealthTax" xlink:to="ello_AmountOfMaximumNetWealthTax_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfFairValuesHierarchyTableTextBlock_lbl1" xml:lang="en-US">Schedule Of Fair Values Hierarchy Table Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfFairValuesHierarchyTableTextBlock" xlink:to="ello_ScheduleOfFairValuesHierarchyTableTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DoradIsraelMember_lbl0" xml:lang="en-US">Dorad Israel Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoradIsraelMember" xlink:to="ello_DoradIsraelMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoansFromBanksFourMember_lbl1" xml:lang="en-US">Loans From Banks Four Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansFromBanksFourMember" xlink:to="ello_LoansFromBanksFourMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory_lbl0" xml:lang="en-US">Disclosure of depreciation and amortisation expense [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl2" xml:lang="en-US">Current derivative financial liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_InterestOnLongTermLoans_lbl1" xml:lang="en-US">Interest On Long Term Loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestOnLongTermLoans" xlink:to="ello_InterestOnLongTermLoans_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PaymentToLeaseLiability_lbl1" xml:lang="en-US">Payment To Lease Liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentToLeaseLiability" xlink:to="ello_PaymentToLeaseLiability_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory_lbl0" xml:lang="en-US">Disclosure of trade and other payables [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:to="ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows_lbl0" xml:lang="en-US">Trade and other payables, undiscounted cash flows</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows" xlink:to="ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditorLocation_lbl0" xml:lang="en-US">Auditor Location</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorLocation" xlink:to="dei_AuditorLocation_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SolarItalyFiveMember_lbl0" xml:lang="en-US">Solar Italy Five Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SolarItalyFiveMember" xlink:to="ello_SolarItalyFiveMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl0" xml:lang="en-US">Profit (loss), attributable to non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_GovernmentAuthoritiesCurrentReceivables_lbl1" xml:lang="en-US">Government Authorities Current Receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GovernmentAuthoritiesCurrentReceivables" xlink:to="ello_GovernmentAuthoritiesCurrentReceivables_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_lbl0" xml:lang="en-US">Repayments of borrowings, classified as financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_KeystoneMember_lbl1" xml:lang="en-US">Keystone Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_KeystoneMember" xlink:to="ello_KeystoneMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LongtermBorrowings_lbl0" xml:lang="en-US">Non-current portion of non-current borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LongtermBorrowings" xlink:to="ifrs-full_LongtermBorrowings_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NonCurrentAssetsAbstract_lbl0" xml:lang="en-US">Non Current Assets Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonCurrentAssetsAbstract" xlink:to="ello_NonCurrentAssetsAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FinancialPowerSwapMember_lbl1" xml:lang="en-US">Financial Power Swap Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancialPowerSwapMember" xlink:to="ello_FinancialPowerSwapMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestPaidClassifiedAsFinancingActivities_lbl0" xml:lang="en-US">Interest paid, classified as financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:to="ifrs-full_InterestPaidClassifiedAsFinancingActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DoriEnergyLoanMember_lbl1" xml:lang="en-US">Dori Energy Loan Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoriEnergyLoanMember" xlink:to="ello_DoriEnergyLoanMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ShareOfProfitLossOfEquityAccountedInvestees_lbl2" xml:lang="en-US">Share Of Profit Loss Of Equity Accounted Investees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShareOfProfitLossOfEquityAccountedInvestees" xlink:to="ello_ShareOfProfitLossOfEquityAccountedInvestees_lbl2"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfDeferredTaxesAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfDeferredTaxesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfDeferredTaxesAbstract_lbl" xml:lang="en-US">Schedule Of Deferred Taxes Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfDeferredTaxesAbstract" xlink:to="ello_ScheduleOfDeferredTaxesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl0" xml:lang="en-US">Entity Registrant Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ContractualCashFlowsMember_lbl1" xml:lang="en-US">Contractual Cash Flows Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ContractualCashFlowsMember" xlink:to="ello_ContractualCashFlowsMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FixedAnnualInterestRate_lbl1" xml:lang="en-US">Fixed Annual Interest Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAnnualInterestRate" xlink:to="ello_FixedAnnualInterestRate_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_interestswapTransaction_lbl1" xml:lang="en-US">interestswap Transaction</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_interestswapTransaction" xlink:to="ello_interestswapTransaction_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019_lbl0" xml:lang="en-US">Weighted average exercise price of share options exercisable in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCashAndCashEquivalents_lbl0" xml:lang="en-US">Other cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCashAndCashEquivalents" xlink:to="ifrs-full_OtherCashAndCashEquivalents_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoanFromOthersOneMember_lbl1" xml:lang="en-US">Loan From Others One Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanFromOthersOneMember" xlink:to="ello_LoanFromOthersOneMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl0" xml:lang="en-US">City Area Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EllomaySolarSpainMember_lbl0" xml:lang="en-US">Ellomay Solar Spain Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomaySolarSpainMember" xlink:to="ello_EllomaySolarSpainMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_OtherRightOfUseAssets_lbl1" xml:lang="en-US">Other Right Of Use Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherRightOfUseAssets" xlink:to="ello_OtherRightOfUseAssets_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract_lbl0" xml:lang="en-US">Non-current liabilities [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilitiesAbstract" xlink:to="ifrs-full_NoncurrentLiabilitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentRestrictedCashAndCashEquivalents_lbl1" xml:lang="en-US">Non-current restricted cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentRestrictedCashAndCashEquivalents" xlink:to="ifrs-full_NoncurrentRestrictedCashAndCashEquivalents_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl1" xml:lang="en-US">Deferred tax liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ShareBasedPaymentAwardOptionsContractualTerm_lbl1" xml:lang="en-US">Share Based Payment Award Options Contractual Term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShareBasedPaymentAwardOptionsContractualTerm" xlink:to="ello_ShareBasedPaymentAwardOptionsContractualTerm_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrentIncomeReceivable_lbl2" xml:lang="en-US">Current Income Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentIncomeReceivable" xlink:to="ello_CurrentIncomeReceivable_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_GrossProceedsFromIssueOfBondsNotesAndDebentures_lbl1" xml:lang="en-US">Gross Proceeds From Issue Of Bonds Notes And Debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GrossProceedsFromIssueOfBondsNotesAndDebentures" xlink:to="ello_GrossProceedsFromIssueOfBondsNotesAndDebentures_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherLiabilities_lbl0" xml:lang="en-US">Other liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherLiabilities" xlink:to="ifrs-full_OtherLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountOfOrdinarySharesRepurchased_lbl1" xml:lang="en-US">Amount Of Ordinary Shares Repurchased</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfOrdinarySharesRepurchased" xlink:to="ello_AmountOfOrdinarySharesRepurchased_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCountry_lbl0" xml:lang="en-US">Entity Address, Country</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_lbl0" xml:lang="en-US">Later than three years and not later than five years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations_lbl0" xml:lang="en-US">Proceeds from disposal of non-current assets or disposal groups classified as held for sale and discontinued operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:to="ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherNoncurrentReceivables_lbl0" xml:lang="en-US">Other non-current receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentReceivables" xlink:to="ifrs-full_OtherNoncurrentReceivables_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent_lbl0" xml:lang="en-US">Dividends recognised as distributions to owners of parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" xlink:to="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl3" xml:lang="en-US">Current notes and debentures issued and current portion of non-current notes and debentures issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:to="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DeferredPaymentReceived_lbl1" xml:lang="en-US">Deferred Payment Received</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DeferredPaymentReceived" xlink:to="ello_DeferredPaymentReceived_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity_lbl1" xml:lang="en-US">Profit (loss) from continuing operations attributable to ordinary equity holders of parent entity, used in calculating basic earnings per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:to="ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TrancheThreeMember_lbl1" xml:lang="en-US">Tranche Three Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TrancheThreeMember" xlink:to="ello_TrancheThreeMember_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfForwardAndSwapContractsAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfForwardAndSwapContractsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfForwardAndSwapContractsAbstract_lbl" xml:lang="en-US">Schedule Of Forward And Swap Contracts Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfForwardAndSwapContractsAbstract" xlink:to="ello_ScheduleOfForwardAndSwapContractsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueFromInterest_lbl0" xml:lang="en-US">Interest income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromInterest" xlink:to="ifrs-full_RevenueFromInterest_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentReceivablesDueFromAssociates_lbl0" xml:lang="en-US">Current receivables due from associates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentReceivablesDueFromAssociates" xlink:to="ifrs-full_CurrentReceivablesDueFromAssociates_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BankAndSimilarCharges_lbl0" xml:lang="en-US">Bank and similar charges</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BankAndSimilarCharges" xlink:to="ifrs-full_BankAndSimilarCharges_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NewFacilitiesAgreementMember_lbl1" xml:lang="en-US">New Facilities Agreement Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NewFacilitiesAgreementMember" xlink:to="ello_NewFacilitiesAgreementMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl2" xml:lang="en-US">Non-current portion of non-current notes and debentures issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:to="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads_lbl0" xml:lang="en-US">Other comprehensive income, net of tax, change in value of foreign currency basis spreads</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AggregateGrossConsiderationPricePerShare_lbl1" xml:lang="en-US">Aggregate Gross Consideration Price Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateGrossConsiderationPricePerShare" xlink:to="ello_AggregateGrossConsiderationPricePerShare_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl0" xml:lang="en-US">Number of shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RecoveryOfAmountCommitted_lbl1" xml:lang="en-US">Recovery Of Amount Committed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RecoveryOfAmountCommitted" xlink:to="ello_RecoveryOfAmountCommitted_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ConstructionAgreementAmount_lbl1" xml:lang="en-US">Construction Agreement Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConstructionAgreementAmount" xlink:to="ello_ConstructionAgreementAmount_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_OutputPercentageOfFinancialPowerSwap_lbl1" xml:lang="en-US">Output Percentage Of Financial Power Swap</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OutputPercentageOfFinancialPowerSwap" xlink:to="ello_OutputPercentageOfFinancialPowerSwap_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock_lbl1" xml:lang="en-US">Schedule Of Sensitivity Analysis Of Equity Table Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock" xlink:to="ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SolarItalySevenMember_lbl0" xml:lang="en-US">Solar Italy Seven Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SolarItalySevenMember" xlink:to="ello_SolarItalySevenMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RecognizedAmountInEquity_lbl1" xml:lang="en-US">Recognized Amount In Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RecognizedAmountInEquity" xlink:to="ello_RecognizedAmountInEquity_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl0" xml:lang="en-US">Current prepaid expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepaidExpenses" xlink:to="ifrs-full_CurrentPrepaidExpenses_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReportableSegmentsMember_lbl0" xml:lang="en-US">Reportable segments [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReportableSegmentsMember" xlink:to="ifrs-full_ReportableSegmentsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TalcoSolarLLCMember_lbl0" xml:lang="en-US">Talco Solar LLCMember</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalcoSolarLLCMember" xlink:to="ello_TalcoSolarLLCMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DiscontinuedOperationIsraelMember_lbl0" xml:lang="en-US">Discontinued Operation Israel Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DiscontinuedOperationIsraelMember" xlink:to="ello_DiscontinuedOperationIsraelMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InvestmentPropertyUnderConstructionOrDevelopment_lbl0" xml:lang="en-US">Investment property under construction or development</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentPropertyUnderConstructionOrDevelopment" xlink:to="ifrs-full_InvestmentPropertyUnderConstructionOrDevelopment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OutstandingCommitmentsMadeByEntityRelatedPartyTransactions_lbl0" xml:lang="en-US">Outstanding commitments made by entity, related party transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OutstandingCommitmentsMadeByEntityRelatedPartyTransactions" xlink:to="ifrs-full_OutstandingCommitmentsMadeByEntityRelatedPartyTransactions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CompanyBalanceSheetMember_lbl1" xml:lang="en-US">Company Balance Sheet Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompanyBalanceSheetMember" xlink:to="ello_CompanyBalanceSheetMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestIncomeOnLoansAndReceivables_lbl0" xml:lang="en-US">Interest income on loans and receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestIncomeOnLoansAndReceivables" xlink:to="ifrs-full_InterestIncomeOnLoansAndReceivables_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NumberOfSplittingOfLoans_lbl1" xml:lang="en-US">Number Of Splitting Of Loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfSplittingOfLoans" xlink:to="ello_NumberOfSplittingOfLoans_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests_lbl0" xml:lang="en-US">Other comprehensive income, attributable to non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepreciationRightofuseAssets_lbl2" xml:lang="en-US">Depreciation, right-of-use assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationRightofuseAssets" xlink:to="ifrs-full_DepreciationRightofuseAssets_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions_lbl0" xml:lang="en-US">Amounts receivable, related party transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:to="ifrs-full_AmountsReceivableRelatedPartyTransactions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfRevenueExplanatory_lbl0" xml:lang="en-US">Disclosure of revenue [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRevenueExplanatory" xlink:to="ifrs-full_DisclosureOfRevenueExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherFinanceIncomeCost_lbl0" xml:lang="en-US">Other finance income (cost)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherFinanceIncomeCost" xlink:to="ifrs-full_OtherFinanceIncomeCost_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ForeignCurrencyTranslationAdjustments_lbl1" xml:lang="en-US">Foreign Currency Translation Adjustments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ForeignCurrencyTranslationAdjustments" xlink:to="ello_ForeignCurrencyTranslationAdjustments_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare_lbl2" xml:lang="en-US">Debentures Convertible Into Ordinary Shares Par Value Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare" xlink:to="ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotesAndDebenturesIssued_lbl2" xml:lang="en-US">Notes and debentures issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotesAndDebenturesIssued" xlink:to="ifrs-full_NotesAndDebenturesIssued_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrentAssetsAbstract0_lbl0" xml:lang="en-US">Current Assets Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentAssetsAbstract0" xlink:to="ello_CurrentAssetsAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UsAbstract_lbl0" xml:lang="en-US">Us Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UsAbstract" xlink:to="ello_UsAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentLeaseLiabilities_lbl2" xml:lang="en-US">Current lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLeaseLiabilities" xlink:to="ifrs-full_CurrentLeaseLiabilities_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageOfAcquireCooperativesHoldings_lbl1" xml:lang="en-US">Percentage Of Acquire Cooperatives Holdings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfAcquireCooperativesHoldings" xlink:to="ello_PercentageOfAcquireCooperativesHoldings_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountOfExpansionOfAggregateParValueOfDebentures_lbl1" xml:lang="en-US">Amount Of Expansion Of Aggregate Par Value Of Debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfExpansionOfAggregateParValueOfDebentures" xlink:to="ello_AmountOfExpansionOfAggregateParValueOfDebentures_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentAssetsAbstract_lbl0" xml:lang="en-US">Non-current assets [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsAbstract" xlink:to="ifrs-full_NoncurrentAssetsAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AdditionalPotentialPayment_lbl1" xml:lang="en-US">Additional Potential Payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdditionalPotentialPayment" xlink:to="ello_AdditionalPotentialPayment_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfChangeInInterestRateProfitLossAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfChangeInInterestRateProfitLossAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfChangeInInterestRateProfitLossAbstract_lbl" xml:lang="en-US">Schedule Of Change In Interest Rate Profit Loss Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfChangeInInterestRateProfitLossAbstract" xlink:to="ello_ScheduleOfChangeInInterestRateProfitLossAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_lbl1" xml:lang="en-US">Current trade payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:to="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RepaymentOfLoanFromToEquityAccountedInvestee_lbl1" xml:lang="en-US">Repayment Of Loan From To Equity Accounted Investee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaymentOfLoanFromToEquityAccountedInvestee" xlink:to="ello_RepaymentOfLoanFromToEquityAccountedInvestee_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_MaximumPercentageOfDeductionInFinancingExpensesOfEbitda_lbl0" xml:lang="en-US">Maximum Percentage Of Deduction In Financing Expenses Of Ebitda</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MaximumPercentageOfDeductionInFinancingExpensesOfEbitda" xlink:to="ello_MaximumPercentageOfDeductionInFinancingExpensesOfEbitda_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ShorttermLoansinDollars_lbl1" xml:lang="en-US">Shortterm Loansin Dollars</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShorttermLoansinDollars" xlink:to="ello_ShorttermLoansinDollars_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_GoorLoanAgreementMember_lbl1" xml:lang="en-US">Goor Loan Agreement Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GoorLoanAgreementMember" xlink:to="ello_GoorLoanAgreementMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentReceivablesFromContractsWithCustomers_lbl0" xml:lang="en-US">Non-current receivables from contracts with customers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentReceivablesFromContractsWithCustomers" xlink:to="ifrs-full_NoncurrentReceivablesFromContractsWithCustomers_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfInformationOnOperatingResultsAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfInformationOnOperatingResultsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfInformationOnOperatingResultsAbstract_lbl" xml:lang="en-US">Schedule Of Information On Operating Results Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfInformationOnOperatingResultsAbstract" xlink:to="ello_ScheduleOfInformationOnOperatingResultsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageOfProductionIncrease_lbl1" xml:lang="en-US">Percentage Of Production Increase</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfProductionIncrease" xlink:to="ello_PercentageOfProductionIncrease_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ClaimsInterestPaymentAmount_lbl1" xml:lang="en-US">Claims Interest Payment Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ClaimsInterestPaymentAmount" xlink:to="ello_ClaimsInterestPaymentAmount_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory_lbl1" xml:lang="en-US">Disclosure Of Detailed Information About Aggregate Maturities Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RemainingAmountOfAcquisition_lbl1" xml:lang="en-US">Remaining Amount Of Acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RemainingAmountOfAcquisition" xlink:to="ello_RemainingAmountOfAcquisition_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired_lbl0" xml:lang="en-US">Percentage of voting equity interests acquired</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_US_lbl0" xml:lang="en-US">UNITED STATES</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UnlabeledAbstract42_lbl0" xml:lang="en-US">Unlabeled Abstract42</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UnlabeledAbstract46_lbl0" xml:lang="en-US">Unlabeled Abstract46</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract46" xlink:to="ello_UnlabeledAbstract46_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory_lbl0" xml:lang="en-US">Disclosure of detailed information about borrowings [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived_lbl1" xml:lang="en-US">Current secured bank loans received and current portion of non-current secured bank loans received</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived" xlink:to="ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived_lbl1"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract49" xlink:to="ello_UnlabeledAbstract49_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeStatementAbstract_lbl0" xml:lang="en-US">Profit or loss [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeStatementAbstract" xlink:to="ifrs-full_IncomeStatementAbstract_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods_lbl0" xml:lang="en-US">Current tax expense (income) and adjustments for current tax of prior periods</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" xlink:to="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DateOfExpireOfShareBasedPaymentArrangement_lbl1" xml:lang="en-US">Date Of Expire Of Share Based Payment Arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DateOfExpireOfShareBasedPaymentArrangement" xlink:to="ello_DateOfExpireOfShareBasedPaymentArrangement_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccountingProfit_lbl0" xml:lang="en-US">Accounting profit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccountingProfit" xlink:to="ifrs-full_AccountingProfit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl1" xml:lang="en-US">Current portion of non-current borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:to="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UnlabeledAbstract50_lbl0" xml:lang="en-US">Unlabeled Abstract50</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract50" xlink:to="ello_UnlabeledAbstract50_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UnlabeledAbstract51_lbl0" xml:lang="en-US">Unlabeled Abstract51</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract51" xlink:to="ello_UnlabeledAbstract51_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UnlabeledAbstract54_lbl0" xml:lang="en-US">Unlabeled Abstract54</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract54" xlink:to="ello_UnlabeledAbstract54_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsMaturity_lbl0" xml:lang="en-US">Borrowings, maturity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsMaturity" xlink:to="ifrs-full_BorrowingsMaturity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProfitOrLossAndOtherComprehensiveIncomeLossLocationAxis_lbl0" xml:lang="en-US">Profit Or Loss And Other Comprehensive Income Loss Location Axis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProfitOrLossAndOtherComprehensiveIncomeLossLocationAxis" xlink:to="ello_ProfitOrLossAndOtherComprehensiveIncomeLossLocationAxis_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UnlabeledAbstract55_lbl0" xml:lang="en-US">Unlabeled Abstract55</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract55" xlink:to="ello_UnlabeledAbstract55_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UnlabeledAbstract52_lbl0" xml:lang="en-US">Unlabeled Abstract52</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract52" xlink:to="ello_UnlabeledAbstract52_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ExpensesPercentage_lbl1" xml:lang="en-US">Expenses Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ExpensesPercentage" xlink:to="ello_ExpensesPercentage_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UnlabeledAbstract53_lbl0" xml:lang="en-US">Unlabeled Abstract53</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract53" xlink:to="ello_UnlabeledAbstract53_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UnlabeledAbstract58_lbl0" xml:lang="en-US">Unlabeled Abstract58</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract58" xlink:to="ello_UnlabeledAbstract58_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherExpenseByNature_lbl0" xml:lang="en-US">Other expenses, by nature</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UnlabeledAbstract59_lbl0" xml:lang="en-US">Unlabeled Abstract59</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherReceivables_lbl0" xml:lang="en-US">Other receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReceivables" xlink:to="ifrs-full_OtherReceivables_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinanceIncome_lbl0" xml:lang="en-US">Finance income</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract56" xlink:to="ello_UnlabeledAbstract56_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UnlabeledAbstract57_lbl0" xml:lang="en-US">Unlabeled Abstract57</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract57" xlink:to="ello_UnlabeledAbstract57_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UnlabeledAbstract18_lbl0" xml:lang="en-US">Unlabeled Abstract18</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract18" xlink:to="ello_UnlabeledAbstract18_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UnlabeledAbstract19_lbl0" xml:lang="en-US">Unlabeled Abstract19</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract19" xlink:to="ello_UnlabeledAbstract19_lbl0"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UnlabeledAbstract17_lbl0" xml:lang="en-US">Unlabeled Abstract17</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory_lbl0" xml:lang="en-US">Disclosure of temporary difference, unused tax losses and unused tax credits [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfTradeAndOtherReceivablesTableTextBlock_lbl1" xml:lang="en-US">Disclosure Of Trade And Other Receivables Table Text Block</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_lbl0" xml:lang="en-US">Proceeds from borrowings, classified as financing activities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ConstructionPeriod_lbl1" xml:lang="en-US">Construction Period</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SeriesDDebenturesMember_lbl2" xml:lang="en-US">Series DDebentures Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TalasolMember_lbl1" xml:lang="en-US">Talasol Member</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharePremiumMember" xlink:to="ifrs-full_SharePremiumMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl0" xml:lang="en-US">Comprehensive income, attributable to owners of parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CostAssociatedWithLongTermLoans_lbl1" xml:lang="en-US">Cost Associated With Long Term Loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CostAssociatedWithLongTermLoans" xlink:to="ello_CostAssociatedWithLongTermLoans_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfRestrictedCashAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfRestrictedCashAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfRestrictedCashAbstract_lbl" xml:lang="en-US">Schedule Of Restricted Cash Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfRestrictedCashAbstract" xlink:to="ello_ScheduleOfRestrictedCashAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_BusinessContactMember_lbl1" xml:lang="en-US">Business Contact [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_BusinessContactMember" xlink:to="dei_BusinessContactMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProceedsFromIssuanceOfDebenturesNet_lbl1" xml:lang="en-US">Proceeds From Issuance Of Debentures Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromIssuanceOfDebenturesNet" xlink:to="ello_ProceedsFromIssuanceOfDebenturesNet_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ActualCompletionDateOfProjectMember_lbl1" xml:lang="en-US">Actual Completion Date Of Project Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ActualCompletionDateOfProjectMember" xlink:to="ello_ActualCompletionDateOfProjectMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl0" xml:lang="en-US">Current Fiscal Year End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PrepaymentOfOutstandingAmount_lbl1" xml:lang="en-US">Prepayment Of Outstanding Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PrepaymentOfOutstandingAmount" xlink:to="ello_PrepaymentOfOutstandingAmount_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_YearTwoMember_lbl0" xml:lang="en-US">Year Two Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_YearTwoMember" xlink:to="ello_YearTwoMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfLeasesExplanatory_lbl0" xml:lang="en-US">Disclosure of leases [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfLeasesExplanatory" xlink:to="ifrs-full_DisclosureOfLeasesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_UnlabeledAbstract_lbl0" xml:lang="en-US">Unlabeled Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlabeledAbstract" xlink:to="ello_UnlabeledAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageOfAverageProductionReduced_lbl1" xml:lang="en-US">Percentage Of Average Production Reduced</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfAverageProductionReduced" xlink:to="ello_PercentageOfAverageProductionReduced_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl1" xml:lang="en-US">Other comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentLiabilities_lbl1" xml:lang="en-US">Current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentLiabilities_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsInterestRateBasis_lbl1" xml:lang="en-US">Borrowings, interest rate basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRateBasis" xlink:to="ifrs-full_BorrowingsInterestRateBasis_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ReconciliationsMember_lbl1" xml:lang="en-US">Reconciliations Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReconciliationsMember" xlink:to="ello_ReconciliationsMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale_lbl0" xml:lang="en-US">Non-current assets or disposal groups classified as held for sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" xlink:to="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LuzonGroupMember_lbl1" xml:lang="en-US">Luzon Group Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LuzonGroupMember" xlink:to="ello_LuzonGroupMember_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesAbstract_lbl" xml:lang="en-US">Schedule Of Fair Values Of The Other Financial Liabilities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesAbstract" xlink:to="ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfDetailedInformationAboutOtherPayablesExplanatory_lbl1" xml:lang="en-US">Disclosure Of Detailed Information About Other Payables Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutOtherPayablesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutOtherPayablesExplanatory_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DerivativeFinanceLiabilitiesAbstract_lbl0" xml:lang="en-US">Derivative Finance Liabilities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DerivativeFinanceLiabilitiesAbstract" xlink:to="ello_DerivativeFinanceLiabilitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock_lbl1" xml:lang="en-US">Disclosure Of Income Tax Expense Benefits Explanatory Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock" xlink:to="ello_DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl0" xml:lang="en-US">Adjustments for decrease (increase) in trade and other receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DevelopmentOfPvProjectsInItalyMember_lbl1" xml:lang="en-US">Development Of Pv Projects In Italy Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DevelopmentOfPvProjectsInItalyMember" xlink:to="ello_DevelopmentOfPvProjectsInItalyMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FinanceIncomeExpenseNet_lbl1" xml:lang="en-US">Finance Income Expense Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceIncomeExpenseNet" xlink:to="ello_FinanceIncomeExpenseNet_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GrossProfit_lbl2" xml:lang="en-US">Gross profit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentMember_lbl0" xml:lang="en-US">Current [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentMember" xlink:to="ifrs-full_CurrentMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DiscontinuedOperationsMember_lbl2" xml:lang="en-US">Discontinued operations [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DiscontinuedOperationsMember" xlink:to="ifrs-full_DiscontinuedOperationsMember_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IncreaseEquityMember_lbl0" xml:lang="en-US">Increase Equity Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseEquityMember" xlink:to="ello_IncreaseEquityMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GeneralAndAdministrativeExpense_lbl1" xml:lang="en-US">General and administrative expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeneralAndAdministrativeExpense" xlink:to="ifrs-full_GeneralAndAdministrativeExpense_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RepaymentOfDebentures_lbl0" xml:lang="en-US">Repayment Of Debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaymentOfDebentures" xlink:to="ello_RepaymentOfDebentures_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl0" xml:lang="en-US">Later than two years and not later than three years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl2" xml:lang="en-US">Non-current lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLeaseLiabilities" xlink:to="ifrs-full_NoncurrentLeaseLiabilities_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl0" xml:lang="en-US">Depreciation, property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:to="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities_lbl0" xml:lang="en-US">Current accrued expenses and other current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:to="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountFinancialAgreementGuaranteesByIndirectShare_lbl1" xml:lang="en-US">Amount Financial Agreement Guarantees By Indirect Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountFinancialAgreementGuaranteesByIndirectShare" xlink:to="ello_AmountFinancialAgreementGuaranteesByIndirectShare_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity_lbl0" xml:lang="en-US">Increase (decrease) through exercise of warrants, equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity" xlink:to="ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DebentureIssuedPerUnitPrice_lbl1" xml:lang="en-US">Debenture Issued Per Unit Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DebentureIssuedPerUnitPrice" xlink:to="ello_DebentureIssuedPerUnitPrice_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfOptionLifeShareOptionsGranted_lbl0" xml:lang="en-US">Option life, share options granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfOptionLifeShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfOptionLifeShareOptionsGranted_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl0" xml:lang="en-US">Entity Address, Postal Zip Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl0" xml:lang="en-US">Adjustments for share-based payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForSharebasedPayments" xlink:to="ifrs-full_AdjustmentsForSharebasedPayments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember_lbl1" xml:lang="en-US">Reserve Of Presentation In Value Of Foreign Currency Basis Spreads Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember" xlink:to="ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Revenue_lbl2" xml:lang="en-US">Revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Revenue" xlink:to="ifrs-full_Revenue_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations_lbl1" xml:lang="en-US">Diluted earnings (loss) per share from discontinued operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations" xlink:to="ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DoradEnergyLtdMember_lbl1" xml:lang="en-US">Dorad Energy Ltd Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoradEnergyLtdMember" xlink:to="ello_DoradEnergyLtdMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RefundAmountInClaim_lbl1" xml:lang="en-US">Refund Amount In Claim</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RefundAmountInClaim" xlink:to="ello_RefundAmountInClaim_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings_lbl0" xml:lang="en-US">Current borrowings and current portion of non-current borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:to="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ApplicableTaxRate_lbl0" xml:lang="en-US">Applicable tax rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ApplicableTaxRate" xlink:to="ifrs-full_ApplicableTaxRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for property, plant and equipment [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PeriodOfFinancialPowerSwap_lbl1" xml:lang="en-US">Period Of Financial Power Swap</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PeriodOfFinancialPowerSwap" xlink:to="ello_PeriodOfFinancialPowerSwap_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TreasurySharesMember_lbl0" xml:lang="en-US">Treasury shares [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TreasurySharesMember" xlink:to="ifrs-full_TreasurySharesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProceedFromSettlementOfDerivativesNet_lbl1" xml:lang="en-US">Proceed From Settlement Of Derivatives Net</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmpaLtdMember_lbl0" xml:lang="en-US">Ampa Ltd Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountFinancialAgreementGuaranteesByDirectShare_lbl1" xml:lang="en-US">Amount Financial Agreement Guarantees By Direct Share</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WarrantLiability_lbl0" xml:lang="en-US">Warrant liability</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations_lbl1" xml:lang="en-US">Basic earnings (loss) per share from continuing operations</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl0" xml:lang="en-US">Trading Symbol</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings_lbl1" xml:lang="en-US">Non-current portion of other non-current borrowings</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Cash_lbl0" xml:lang="en-US">Cash</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ImpairmentLoss_lbl0" xml:lang="en-US">Impairment loss</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_EuropeMember_lbl0" xml:lang="en-US">Europe [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinanceCosts_lbl3" xml:lang="en-US">Finance costs</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PaymentOfPrincipalOfLeaseLiabilities_lbl1" xml:lang="en-US">Payment Of Principal Of Lease Liabilities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ClaimsAmountPayment_lbl1" xml:lang="en-US">Claims Amount Payment</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossFromOperatingActivities_lbl2" xml:lang="en-US">Profit (loss) from operating activities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NonCurrentLiabilitiesAbstract2_lbl0" xml:lang="en-US">Non Current Liabilities Abstract2</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ResidentAndNonResidentMember_lbl1" xml:lang="en-US">Resident And Non Resident Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NonCurrentLiabilitiesAbstract3_lbl0" xml:lang="en-US">Non Current Liabilities Abstract3</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl1" xml:lang="en-US">Cash flows from (used in) financing activities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AnnualRentIncreasesPercentage_lbl1" xml:lang="en-US">Annual Rent Increases Percentage</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SolarItalyFourMember_lbl0" xml:lang="en-US">Solar Italy Four Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl0" xml:lang="en-US">Document Period End Date</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory_lbl1" xml:lang="en-US">Disclosure Of Detailed Information About Compensation To Not Employed By Company Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NonCurrentLiabilitiesAbstract0_lbl0" xml:lang="en-US">Non Current Liabilities Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonCurrentLiabilitiesAbstract0" xlink:to="ello_NonCurrentLiabilitiesAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EliminationOfInterestOnLoanFromRelatedParty_lbl1" xml:lang="en-US">Elimination Of Interest On Loan From Related Party</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NonCurrentLiabilitiesAbstract1_lbl0" xml:lang="en-US">Non Current Liabilities Abstract1</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LongtermLoans_lbl1" xml:lang="en-US">Longterm Loans</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProceedsFromAdvancesOnAccountOfInvestmentsInProcess_lbl1" xml:lang="en-US">Proceeds From Advances On Account Of Investments In Process</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfDetailedInformationAboutInformationOnOperatingResultsExplanatory_lbl1" xml:lang="en-US">Disclosure Of Detailed Information About Information On Operating Results Explanatory</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CarryingAmountsAbstract_lbl0" xml:lang="en-US">Carrying Amounts Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ReceivableFromConcessionProjectNonCurrentAssets_lbl1" xml:lang="en-US">Receivable From Concession Project Non Current Assets</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AwardYearAxis_lbl0" xml:lang="en-US">Award Year Axis</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_MaturityPeriodTerm_lbl1" xml:lang="en-US">Maturity Period Term</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CashFlowsFromUsedInFinancingActivities1_lbl1" xml:lang="en-US">Cash Flows From Used In Financing Activities1</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for non-current assets or disposal groups classified as held for sale and discontinued operations [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrentMaturitiesOfLoansGivenToAnEquityAccountedInvestee_lbl1" xml:lang="en-US">Current Maturities Of Loans Given To An Equity Accounted Investee</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetForeignExchangeGain_lbl0" xml:lang="en-US">Net foreign exchange gain</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NonDerivativeFinancialLiabilitiesAbstract0_lbl0" xml:lang="en-US">Non Derivative Financial Liabilities Abstract0</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAnnualReport_lbl0" xml:lang="en-US">Document Annual Report</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ElectricityPerShare_lbl0" xml:lang="en-US">Electricity Per Share</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RetainedEarnings_lbl0" xml:lang="en-US">Retained earnings</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DeferredAggregatePurchasePrice_lbl1" xml:lang="en-US">Deferred Aggregate Purchase Price</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl0" xml:lang="en-US">Entity Address, City or Town</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl0" xml:lang="en-US">Key management personnel compensation, short-term employee benefits</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpenseOnLeaseLiabilities_lbl2" xml:lang="en-US">Interest expense on lease liabilities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions_lbl0" xml:lang="en-US">Outstanding commitments made on behalf of entity, related party transactions</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NetFinancialDebtMember_lbl1" xml:lang="en-US">Net Financial Debt Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfBlackScholesOptionsPricingModelTextBlock_lbl1" xml:lang="en-US">Disclosure Of Black Scholes Options Pricing Model Text Block</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl0" xml:lang="en-US">Entity Voluntary Filers</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl0" xml:lang="en-US">Entity Filer Category</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SemiAnnuallyMember_lbl1" xml:lang="en-US">Semi Annually Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ConstructionPeriodOfProjectMember_lbl1" xml:lang="en-US">Construction Period Of Project Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FinancialPowerSwap_lbl1" xml:lang="en-US">Financial Power Swap</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities_lbl0" xml:lang="en-US">Income taxes paid, classified as operating activities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageDecreaseFromDoradHolding_lbl1" xml:lang="en-US">Percentage Decrease From Dorad Holding</label>
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    <loc xlink:type="locator" xlink:label="ello_ScheduleOfTransactionsInDerivativeFinancialInstrumentsAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfTransactionsInDerivativeFinancialInstrumentsAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SecurityFundAmount_lbl1" xml:lang="en-US">Security Fund Amount</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AdvancePayment_lbl1" xml:lang="en-US">Advance Payment</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ChangeInTheExchangeRateOfAbstract_lbl0" xml:lang="en-US">Change In The Exchange Rate Of Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AdjustmentsForFinancingExpensesNet_lbl1" xml:lang="en-US">Adjustments For Financing Expenses Net</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments_lbl0" xml:lang="en-US">Cash flows from (used in) decrease (increase) in short-term deposits and investments</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_GovernmentAuthorities_lbl1" xml:lang="en-US">Government Authorities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TreasuryShares_lbl0" xml:lang="en-US">Treasury shares</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountOfDilutiveStockOptionsAndWarrants_lbl1" xml:lang="en-US">Amount Of Dilutive Stock Options And Warrants</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_ES_lbl0" xml:lang="en-US">SPAIN</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TransactionsWithOwnersOfTheCompanyRecognizedDirectlyInEquityAbstract_lbl0" xml:lang="en-US">Transactions With Owners Of The Company Recognized Directly In Equity Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PumpedStorageHydroPowerPlantMember_lbl1" xml:lang="en-US">Pumped Storage Hydro Power Plant Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for foreign currency translation [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoansAndBorrowingsMember_lbl1" xml:lang="en-US">Loans And Borrowings Member</label>
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    <loc xlink:type="locator" xlink:label="ello_ScheduleOfSensitivityAnalysisOfEquityAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfSensitivityAnalysisOfEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfSensitivityAnalysisOfEquityAbstract_lbl" xml:lang="en-US">Schedule Of Sensitivity Analysis Of Equity Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ForecastMember_lbl0" xml:lang="en-US">Forecast Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AdvancesOnAccountOfInvestment_lbl1" xml:lang="en-US">Advances On Account Of Investment</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentTransitionReport_lbl0" xml:lang="en-US">Document Transition Report</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CashFlowsFromFinancingActivitiesAbstract_lbl0" xml:lang="en-US">Cash Flows From Financing Activities Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense_lbl0" xml:lang="en-US">Tax benefit arising from previously unrecognised tax loss, tax credit or temporary difference of prior period used to reduce current tax expense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AggregateAmount_lbl1" xml:lang="en-US">Aggregate Amount</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountForfeitureOfLicenseGuarantee_lbl1" xml:lang="en-US">Amount Forfeiture Of License Guarantee</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingCostsCapitalised_lbl0" xml:lang="en-US">Borrowing costs capitalised</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FuenteLibrillaMember_lbl1" xml:lang="en-US">Fuente Librilla Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement_lbl0" xml:lang="en-US">Description of maximum term of options granted for share-based payment arrangement</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DerivativesPresentedUnderCurrentLiabilitiesAbstract_lbl0" xml:lang="en-US">Derivatives Presented Under Current Liabilities Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfCompanysExposureToLinkageAndForeignCurrencyRiskTableTextBlock_lbl1" xml:lang="en-US">Schedule Of Companys Exposure To Linkage And Foreign Currency Risk Table Text Block</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EllomayPSMember_lbl1" xml:lang="en-US">Ellomay PSMember</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherReserves_lbl0" xml:lang="en-US">Other reserves</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReserves" xlink:to="ifrs-full_OtherReserves_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TrancheOneMember_lbl1" xml:lang="en-US">Tranche One Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TrancheOneMember" xlink:to="ello_TrancheOneMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RestrictedCashAndLongTermBankDeposits_lbl2" xml:lang="en-US">Restricted Cash And Long Term Bank Deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RestrictedCashAndLongTermBankDeposits" xlink:to="ello_RestrictedCashAndLongTermBankDeposits_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_GroenGasOudeTongeBVMember_lbl2" xml:lang="en-US">Groen Gas Oude Tonge BVMember</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GroenGasOudeTongeBVMember" xlink:to="ello_GroenGasOudeTongeBVMember_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ThirtyJuneTwoThousandFortyFourMember_lbl1" xml:lang="en-US">Thirty June Two Thousand Forty Four Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ThirtyJuneTwoThousandFortyFourMember" xlink:to="ello_ThirtyJuneTwoThousandFortyFourMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityShellCompany_lbl0" xml:lang="en-US">Entity Shell Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ParValuePerShare_lbl1" xml:lang="en-US">Par value per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ParValuePerShare" xlink:to="ifrs-full_ParValuePerShare_lbl1"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfDebtsAndLoansToRelatedAndInterestedPartiesAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfDebtsAndLoansToRelatedAndInterestedPartiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfDebtsAndLoansToRelatedAndInterestedPartiesAbstract_lbl" xml:lang="en-US">Schedule Of Debts And Loans To Related And Interested Parties Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfDebtsAndLoansToRelatedAndInterestedPartiesAbstract" xlink:to="ello_ScheduleOfDebtsAndLoansToRelatedAndInterestedPartiesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IncreaseddecreasedProfitOrLoss_lbl1" xml:lang="en-US">Increaseddecreased Profit Or Loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseddecreasedProfitOrLoss" xlink:to="ello_IncreaseddecreasedProfitOrLoss_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageOfHedge_lbl1" xml:lang="en-US">Percentage Of Hedge</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfHedge" xlink:to="ello_PercentageOfHedge_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_GseThreeUkLimitedAndFondIcoInfraestructurasIiFiccMember_lbl1" xml:lang="en-US">Gse Three Uk Limited And Fond Ico Infraestructuras Ii Ficc Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GseThreeUkLimitedAndFondIcoInfraestructurasIiFiccMember" xlink:to="ello_GseThreeUkLimitedAndFondIcoInfraestructurasIiFiccMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfEarningsPerShareExplanatory_lbl0" xml:lang="en-US">Disclosure of earnings per share [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:to="ifrs-full_DisclosureOfEarningsPerShareExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_lbl0" xml:lang="en-US">Expense from share-based payment transactions with employees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:to="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfCurrentAssetsTradeAndOtherReceivablesAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfCurrentAssetsTradeAndOtherReceivablesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfCurrentAssetsTradeAndOtherReceivablesAbstract_lbl" xml:lang="en-US">Schedule Of Current Assets Trade And Other Receivables Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfCurrentAssetsTradeAndOtherReceivablesAbstract" xlink:to="ello_ScheduleOfCurrentAssetsTradeAndOtherReceivablesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_MexiaSolarOneMember_lbl0" xml:lang="en-US">Mexia Solar One Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MexiaSolarOneMember" xlink:to="ello_MexiaSolarOneMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RepaymentOfSwapInstrumentAssociatedWithLongTermLoans_lbl1" xml:lang="en-US">Repayment Of Swap Instrument Associated With Long Term Loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaymentOfSwapInstrumentAssociatedWithLongTermLoans" xlink:to="ello_RepaymentOfSwapInstrumentAssociatedWithLongTermLoans_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ElectraInfrastructureLtdMember_lbl0" xml:lang="en-US">Electra Infrastructure Ltd Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ElectraInfrastructureLtdMember" xlink:to="ello_ElectraInfrastructureLtdMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_MaturityPeriod_lbl1" xml:lang="en-US">Maturity Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MaturityPeriod" xlink:to="ello_MaturityPeriod_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for discontinued operations [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrentLiabilitiesAbstract0_lbl0" xml:lang="en-US">Current Liabilities Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentLiabilitiesAbstract0" xlink:to="ello_CurrentLiabilitiesAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IncreaseOfThreePercentageMember_lbl1" xml:lang="en-US">Increase Of Three Percentage Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseOfThreePercentageMember" xlink:to="ello_IncreaseOfThreePercentageMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RemainingBorrowingsAmount_lbl1" xml:lang="en-US">Remaining Borrowings Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RemainingBorrowingsAmount" xlink:to="ello_RemainingBorrowingsAmount_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TotalInvestmentComposition_lbl2" xml:lang="en-US">Total Investment Composition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TotalInvestmentComposition" xlink:to="ello_TotalInvestmentComposition_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl0" xml:lang="en-US">Description of accounting policy for recognition of revenue [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EllomaySpainRinconadaSecondMember_lbl1" xml:lang="en-US">Ellomay Spain Rinconada Second Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomaySpainRinconadaSecondMember" xlink:to="ello_EllomaySpainRinconadaSecondMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AtFairValueMember_lbl0" xml:lang="en-US">At fair value [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AtFairValueMember" xlink:to="ifrs-full_AtFairValueMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LessThanOneYearMember_lbl1" xml:lang="en-US">Less Than One Year Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LessThanOneYearMember" xlink:to="ello_LessThanOneYearMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for leases [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FinancingExpensesInConnectionWithDerivativesNet_lbl1" xml:lang="en-US">Financing Expenses In Connection With Derivatives Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancingExpensesInConnectionWithDerivativesNet" xlink:to="ello_FinancingExpensesInConnectionWithDerivativesNet_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory_lbl0" xml:lang="en-US">Disclosure of classes of share capital [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:to="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherRevenue_lbl1" xml:lang="en-US">Other revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherRevenue" xlink:to="ifrs-full_OtherRevenue_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SeriesOneOptionsMember_lbl1" xml:lang="en-US">Series One Options Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeriesOneOptionsMember" xlink:to="ello_SeriesOneOptionsMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl0" xml:lang="en-US">Number of share options exercised in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IncreaseInPercentageOfInterest_lbl1" xml:lang="en-US">Increase In Percentage Of Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseInPercentageOfInterest" xlink:to="ello_IncreaseInPercentageOfInterest_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AggregateNominalPurchasePrice_lbl1" xml:lang="en-US">Aggregate Nominal Purchase Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregateNominalPurchasePrice" xlink:to="ello_AggregateNominalPurchasePrice_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl0" xml:lang="en-US">Profit (loss), attributable to owners of parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:to="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BottomOfRangeMember_lbl1" xml:lang="en-US">Bottom of range [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="currency_USD_lbl1" xml:lang="en-US">United States of America, Dollars</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_USD" xlink:to="currency_USD_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_lbl0" xml:lang="en-US">Deferred tax expense (income) recognised in profit or loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_lbl0"/>
    <loc xlink:type="locator" xlink:label="ello_ScheduleOfFixedAssetsNetAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfFixedAssetsNetAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfFixedAssetsNetAbstract_lbl" xml:lang="en-US">Schedule Of Fixed Assets Net Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ScheduleOfFixedAssetsNetAbstract" xlink:to="ello_ScheduleOfFixedAssetsNetAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_lbl0" xml:lang="en-US">Disclosure of share capital, reserves and other equity interest [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:to="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl0" xml:lang="en-US">Amendment Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl0" xml:lang="en-US">Number of share options exercisable in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_BiogasMember_lbl1" xml:lang="en-US">Biogas Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BiogasMember" xlink:to="ello_BiogasMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations_lbl0" xml:lang="en-US">Profit (loss) from discontinued operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:to="ifrs-full_ProfitLossFromDiscontinuedOperations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SharePremium_lbl0" xml:lang="en-US">Share premium</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharePremium" xlink:to="ifrs-full_SharePremium_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProceedsFrominvestmentInMarketableSecurities_lbl1" xml:lang="en-US">Proceeds Frominvestment In Marketable Securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFrominvestmentInMarketableSecurities" xlink:to="ello_ProceedsFrominvestmentInMarketableSecurities_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NonDerivativeFinancialLiabilitiesAbstract_lbl0" xml:lang="en-US">Non Derivative Financial Liabilities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonDerivativeFinancialLiabilitiesAbstract" xlink:to="ello_NonDerivativeFinancialLiabilitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfProfitLossFromOperatingActivitiesExplanatory_lbl0" xml:lang="en-US">Disclosure of profit (loss) from operating activities [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfProfitLossFromOperatingActivitiesExplanatory" xlink:to="ifrs-full_DisclosureOfProfitLossFromOperatingActivitiesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentagePropertyPlant_lbl0" xml:lang="en-US">Percentage Property Plant</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentagePropertyPlant" xlink:to="ello_PercentagePropertyPlant_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfDetailedInformationAboutForwardAndSwapContractsExplanatory_lbl1" xml:lang="en-US">Disclosure Of Detailed Information About Forward And Swap Contracts Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutForwardAndSwapContractsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutForwardAndSwapContractsExplanatory_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoansFromBanksThreeMember_lbl1" xml:lang="en-US">Loans From Banks Three Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities_lbl0" xml:lang="en-US">Interest paid, classified as operating activities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EllomayAndAmpaInvestmentsLtdMember_lbl1" xml:lang="en-US">Ellomay And Ampa Investments Ltd Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DerivativesPresentedUnderCurrentAssetsAbstract_lbl0" xml:lang="en-US">Derivatives Presented Under Current Assets Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl0" xml:lang="en-US">Entity Central Index Key</label>
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    <loc xlink:type="locator" xlink:label="ello_ScheduleOfComputationOfBasicAndDilutedEarningsPerShareAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfComputationOfBasicAndDilutedEarningsPerShareAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl0" xml:lang="en-US">Key management personnel compensation, post-employment benefits</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory_lbl1" xml:lang="en-US">Disclosure Of Detailed Information About Restricted Cash Deposits And Marketable Securities Explanatory</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TheNetherlandsTaxationMember_lbl1" xml:lang="en-US">The Netherlands Taxation Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee_lbl1" xml:lang="en-US">Payment Of Interest On Loan From Equity Accounted Investee</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EllomaySolarItalyOneSrlMember_lbl1" xml:lang="en-US">Ellomay Solar Italy One Srl Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RepaymentsOfNoncurrentBorrowings_lbl0" xml:lang="en-US">Repayments of non-current borrowings</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DisclosureOfDetailedInformationAboutOtherLongTermLiabilitiesExplanatory_lbl1" xml:lang="en-US">Disclosure Of Detailed Information About Other Long Term Liabilities Explanatory</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_a2023Abstract_lbl0" xml:lang="en-US">a2023 Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Inventories_lbl0" xml:lang="en-US">Current inventories</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShareIssueRelatedCost_lbl0" xml:lang="en-US">Share issue related cost</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrentPayableToGovernmentAuthorities_lbl1" xml:lang="en-US">Current Payable To Government Authorities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CostIncludedInBookValue_lbl1" xml:lang="en-US">Cost Included In Book Value</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IssuanceOfCapitalToNonControllingInterest_lbl1" xml:lang="en-US">Issuance Of Capital To Non Controlling Interest</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for finance income and costs [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl2" xml:lang="en-US">Investments accounted for using equity method</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OfficeEquipmentMember_lbl1" xml:lang="en-US">Office equipment [member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageOfMaximumGuaranteedAmount_lbl1" xml:lang="en-US">Percentage Of Maximum Guaranteed Amount</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DebtInstrumentConversionPrice_lbl1" xml:lang="en-US">Debt Instrument Conversion Price</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DoriEnergyMember_lbl1" xml:lang="en-US">Dori Energy Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SeriesEDebenturesMember_lbl0" xml:lang="en-US">Series EDebentures Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueFromSaleOfElectricity_lbl0" xml:lang="en-US">Revenue from sale of electricity</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_weightedAverageNumberOfOrdinarySharesOptions_lbl1" xml:lang="en-US">weighted Average Number Of Ordinary Shares Options</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LicenseExpired_lbl1" xml:lang="en-US">License Expired</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProjectDevelopmentCosts_lbl1" xml:lang="en-US">Project Development Costs</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrentMaturitiesMember_lbl0" xml:lang="en-US">Current Maturities Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_YearOneMember_lbl0" xml:lang="en-US">Year One Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SubordinatedSecuredBTrancheMember_lbl1" xml:lang="en-US">Subordinated Secured BTranche Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_MarketableSecuritie_lbl1" xml:lang="en-US">Marketable Securitie</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxAssets_lbl0" xml:lang="en-US">Deferred tax assets</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock_lbl1" xml:lang="en-US">Schedule Of Reconciliation Financial Instruments Carried At Fair Value Table Text Block</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_lbl0" xml:lang="en-US">Disclosure of number and weighted average exercise prices of share options [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PhotovoltaicPlantsInSpainMember_lbl1" xml:lang="en-US">Photovoltaic Plants In Spain Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations_lbl1" xml:lang="en-US">Basic earnings (loss) per share from discontinued operations</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentReceivablesFromContractsWithCustomers_lbl0" xml:lang="en-US">Current receivables from contracts with customers</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_IcfrAuditorAttestationFlag_lbl0" xml:lang="en-US">ICFR Auditor Attestation Flag</label>
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    <loc xlink:type="locator" xlink:label="ello_ScheduleOfAssetsOfDisposalGroupsClassifiedAsHeldForSaleAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfAssetsOfDisposalGroupsClassifiedAsHeldForSaleAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_OriginalNominalCapacityPlant_lbl1" xml:lang="en-US">Original Nominal Capacity Plant</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfGeographicalAreasExplanatory_lbl0" xml:lang="en-US">Disclosure of geographical areas [text block]</label>
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    <loc xlink:type="locator" xlink:label="ello_ScheduleOfRevenuesFromTheCompanySOperationsAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfRevenuesFromTheCompanySOperationsAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_InterestPayableOnDebtPercentage_lbl1" xml:lang="en-US">Interest Payable On Debt Percentage</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_MaterialLeaseAgreementsMember_lbl0" xml:lang="en-US">Material Lease Agreements Member</label>
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    <loc xlink:type="locator" xlink:label="ello_ScheduleOfExpensesRecognizedInFinancialStatementsAbstract" xlink:href="ello-20231231.xsd#ello_ScheduleOfExpensesRecognizedInFinancialStatementsAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl0" xml:lang="en-US">Share of profit (loss) from continuing operations of associates and joint ventures accounted for using equity method</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl0" xml:lang="en-US">Entity Current Reporting Status</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ChangeInTheExchangeRateOfAbstract0_lbl0" xml:lang="en-US">Change In The Exchange Rate Of Abstract0</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CustomaryException_lbl1" xml:lang="en-US">Customary Exception</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentLiabilitiesAbstract_lbl1" xml:lang="en-US">Current liabilities [abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss_lbl0" xml:lang="en-US">Gains (losses) on financial assets reclassified out of financial assets at fair value through profit or loss recognised in profit or loss</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PaymentReceivedForManagementAndEntrepreneurshipServices_lbl1" xml:lang="en-US">Payment Received For Management And Entrepreneurship Services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentReceivedForManagementAndEntrepreneurshipServices" xlink:to="ello_PaymentReceivedForManagementAndEntrepreneurshipServices_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsRecognisedInOtherComprehensiveIncome_lbl0" xml:lang="en-US">Fair value gains (losses) on financial assets reclassified out of available-for-sale financial assets recognised in other comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsRecognisedInOtherComprehensiveIncome" xlink:to="ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsRecognisedInOtherComprehensiveIncome_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IssuedProductionLicenses_lbl1" xml:lang="en-US">Issued Production Licenses</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ThousandAbstract_lbl0" xml:lang="en-US">Thousand Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PumpedStorageMember_lbl1" xml:lang="en-US">Pumped Storage Member</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" xlink:to="ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory_lbl0" xml:lang="en-US">Disclosure of interests in other entities [text block]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromExerciseOfOptions" xlink:to="ifrs-full_ProceedsFromExerciseOfOptions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfMaterialAccountingPolicyInformationExplanatory_lbl0" xml:lang="en-US">Disclosure of material accounting policy information [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountOfAdjustmentOfBalanceSheetEquity_lbl1" xml:lang="en-US">Amount Of Adjustment Of Balance Sheet Equity</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_Plan2000Member_lbl1" xml:lang="en-US">Plan2000 Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FinancialAssetMember_lbl1" xml:lang="en-US">Financial Asset Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrencyRiskEuroMember_lbl1" xml:lang="en-US">Currency Risk Euro Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencyRiskEuroMember" xlink:to="ello_CurrencyRiskEuroMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions_lbl0" xml:lang="en-US">Increase (decrease) through exercise of options, equity</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl0" xml:lang="en-US">Non-current provisions for employee benefits</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_lbl1" xml:lang="en-US">Weighted average exercise price of share options granted in share-based payment arrangement</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent_lbl0" xml:lang="en-US">Income from discontinued operations attributable to owners of parent</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotionalAmount_lbl1" xml:lang="en-US">Notional amount</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_a2023Abstract0_lbl0" xml:lang="en-US">a2023 Abstract0</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensation_lbl0" xml:lang="en-US">Key management personnel compensation</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageOfIncomeForProduction_lbl1" xml:lang="en-US">Percentage Of Income For Production</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt_lbl1" xml:lang="en-US">Long Term Liabilities Recognized In Connection With Convertible Debt</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl1" xml:lang="en-US">Trade and other current receivables</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountOfImmediateRepaymentProvision_lbl1" xml:lang="en-US">Amount Of Immediate Repayment Provision</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_InterestSwapTransactionPeriod_lbl1" xml:lang="en-US">Interest Swap Transaction Period</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_BankLoanMember_lbl1" xml:lang="en-US">Bank Loan Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AccruedExpensesConnectedToManaraPsp_lbl1" xml:lang="en-US">Accrued Expenses Connected To Manara Psp</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl1" xml:lang="en-US">Cash flows from (used in) operating activities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_IL_lbl0" xml:lang="en-US">ISRAEL</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IntangibleAssetFromGreenCertificates_lbl1" xml:lang="en-US">Intangible Asset From Green Certificates</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentRestrictedCashAndCashEquivalents_lbl2" xml:lang="en-US">Current restricted cash and cash equivalents</label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>22
<FILENAME>ello-20231231_pre.xml
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>24
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
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</head>
<body>
<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583029889888">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2023 </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information Line Items</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">ELLOMAY CAPITAL LTD.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">ELLO<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">20-F<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">12,852,585<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000946394<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Accelerated Filer<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
<td class="text">No<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2023<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2023<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityShellCompany', window );">Entity Shell Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_IcfrAuditorAttestationFlag', window );">ICFR Auditor Attestation Flag</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentRegistrationStatement', window );">Document Registration Statement</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentAnnualReport', window );">Document Annual Report</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentTransitionReport', window );">Document Transition Report</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentShellCompanyReport', window );">Document Shell Company Report</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-35284<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">L3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">18 Rothschild Boulevard<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">1st floor<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Tel Aviv<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">6688121<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCountry', window );">Entity Address, Country</a></td>
<td class="text">IL<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Ordinary Shares, par value NIS 10.00 per share<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInteractiveDataCurrent', window );">Entity Interactive Data Current</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFinStmtErrorCorrectionFlag', window );">Document Financial Statement Error Correction [Flag]</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFinStmtRestatementRecoveryAnalysisFlag', window );">Document Financial Statement Restatement Recovery Analysis [Flag]</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentAccountingStandard', window );">Document Accounting Standard</a></td>
<td class="text">International Financial Reporting Standards<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AuditorFirmId', window );">Auditor Firm ID</a></td>
<td class="text">1057<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AuditorName', window );">Auditor Name</a></td>
<td class="text">Somekh Chaikin<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AuditorLocation', window );">Auditor Location</a></td>
<td class="text">Tel Aviv, Israel<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressesAddressTypeAxis=dei_BusinessContactMember', window );">Business Contact</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information Line Items</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">18 Rothschild Boulevard<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">1st floor<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Tel Aviv<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">6688121<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCountry', window );">Entity Address, Country</a></td>
<td class="text">IL<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_ContactPersonnelName', window );">Contact Personnel Name</a></td>
<td class="text">Kalia Rubenbach<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">972<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">3-797-1111<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_ContactPersonnelFaxNumber', window );">Contact Personnel Fax Number</a></td>
<td class="text">972-77-344-6856<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AuditorFirmId">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>PCAOB issued Audit Firm Identifier</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AuditorFirmId</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:nonemptySequenceNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AuditorLocation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AuditorLocation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:internationalNameItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AuditorName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AuditorName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:internationalNameItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_ContactPersonnelFaxNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fax Number of contact personnel.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_ContactPersonnelFaxNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_ContactPersonnelName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of contact personnel</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_ContactPersonnelName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentAccountingStandard">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The basis of accounting the registrant has used to prepare the financial statements included in this filing This can either be 'U.S. GAAP', 'International Financial Reporting Standards', or 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentAccountingStandard</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:accountingStandardItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentAnnualReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as an annual report.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentAnnualReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFinStmtErrorCorrectionFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicates whether any of the financial statement period in the filing include a restatement due to error correction.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection w<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFinStmtErrorCorrectionFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFinStmtRestatementRecoveryAnalysisFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicates whether any of the financial statement periods include restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to &#167;240.10D-1(b).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection w<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFinStmtRestatementRecoveryAnalysisFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentRegistrationStatement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as a registration statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentRegistrationStatement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentShellCompanyReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true for a Shell Company Report pursuant to section 13 or 15(d) of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentShellCompanyReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentTransitionReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as a transition report.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Forms 10-K, 10-Q, 20-F<br> -Number 240<br> -Section 13<br> -Subsection a-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentTransitionReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCountry">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>ISO 3166-1 alpha-2 country code.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCountry</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:countryCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInteractiveDataCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-T<br> -Number 232<br> -Section 405<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInteractiveDataCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityShellCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityShellCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 405<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_IcfrAuditorAttestationFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_IcfrAuditorAttestationFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressesAddressTypeAxis=dei_BusinessContactMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<SEQUENCE>25
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583033655776">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Financial Position<br> &#8364; in Thousands, &#8362; in Thousands, $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsAbstract', window );"><strong>Current assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">&#8364; 51,127<span></span>
</td>
<td class="nump">$ 56,548<span></span>
</td>
<td class="nump">&#8364; 46,458<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MarketableSecuritie', window );">Marketable securities</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,836<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ShortTermDeposits', window );">Short-term deposits</a></td>
<td class="nump">997<span></span>
</td>
<td class="nump">1,103<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentRestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">810<span></span>
</td>
<td class="nump">896<span></span>
</td>
<td class="nump">900<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesFromContractsWithCustomers', window );">Receivable from concession project</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,799<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherIntangibleAssets', window );">Intangible asset from green certificates</a></td>
<td class="nump">553<span></span>
</td>
<td class="nump">612<span></span>
</td>
<td class="nump">585<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Trade and other receivables</a></td>
<td class="nump">11,992<span></span>
</td>
<td class="nump">13,264<span></span>
</td>
<td class="nump">12,097<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Assets of disposal groups classified as held for sale</a></td>
<td class="nump">28,297<span></span>
</td>
<td class="nump">31,298<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Total Current assests</a></td>
<td class="nump">93,776<span></span>
</td>
<td class="nump">103,721<span></span>
</td>
<td class="nump">64,675<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsAbstract', window );"><strong>Non-current assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investment in equity accounted investee</a></td>
<td class="nump">31,772<span></span>
</td>
<td class="nump">35,141<span></span>
</td>
<td class="nump">30,029<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AdvancesOnAccountOfInvestments', window );">Advances on account of investments</a></td>
<td class="nump">898<span></span>
</td>
<td class="nump">993<span></span>
</td>
<td class="nump">2,328<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivablesFromContractsWithCustomers', window );">Receivable from concession project</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">24,795<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Fixed assets</a></td>
<td class="nump">407,982<span></span>
</td>
<td class="nump">451,244<span></span>
</td>
<td class="nump">365,756<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use asset</a></td>
<td class="nump">30,967<span></span>
</td>
<td class="nump">34,251<span></span>
</td>
<td class="nump">30,020<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,094<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents', window );">Restricted cash and deposits</a></td>
<td class="nump">17,386<span></span>
</td>
<td class="nump">19,230<span></span>
</td>
<td class="nump">20,192<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax</a></td>
<td class="nump">8,677<span></span>
</td>
<td class="nump">9,597<span></span>
</td>
<td class="nump">23,510<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentTradeReceivables', window );">Long-term receivables</a></td>
<td class="nump">10,446<span></span>
</td>
<td class="nump">11,554<span></span>
</td>
<td class="nump">9,270<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Derivatives</a></td>
<td class="nump">10,948<span></span>
</td>
<td class="nump">12,109<span></span>
</td>
<td class="nump">1,488<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Non-current assets</a></td>
<td class="nump">519,076<span></span>
</td>
<td class="nump">574,119<span></span>
</td>
<td class="nump">511,482<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">612,852<span></span>
</td>
<td class="nump">677,840<span></span>
</td>
<td class="nump">576,157<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilitiesAbstract', window );"><strong>Current liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShorttermBorrowings', window );">Current maturities and short term bank loans</a></td>
<td class="nump">9,784<span></span>
</td>
<td class="nump">10,821<span></span>
</td>
<td class="nump">12,815<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Current maturities of other long-term loans</a></td>
<td class="nump">5,000<span></span>
</td>
<td class="nump">5,530<span></span>
</td>
<td class="nump">10,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Current maturities of debentures</a></td>
<td class="nump">35,200<span></span>
</td>
<td class="nump">38,933<span></span>
</td>
<td class="nump">18,714<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers', window );">Trade payables</a></td>
<td class="nump">5,249<span></span>
</td>
<td class="nump">5,808<span></span>
</td>
<td class="nump">4,504<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentPayables', window );">Other payables</a></td>
<td class="nump">10,859<span></span>
</td>
<td class="nump">12,010<span></span>
</td>
<td class="nump">11,207<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current maturities of derivatives</a></td>
<td class="nump">4,643<span></span>
</td>
<td class="nump">5,135<span></span>
</td>
<td class="nump">33,183<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current maturities of lease liabilities</a></td>
<td class="nump">700<span></span>
</td>
<td class="nump">774<span></span>
</td>
<td class="nump">745<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities of disposal groups classified as held for sale</a></td>
<td class="nump">17,142<span></span>
</td>
<td class="nump">18,960<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Total current liabilities</a></td>
<td class="nump">88,577<span></span>
</td>
<td class="nump">97,971<span></span>
</td>
<td class="nump">91,168<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilitiesAbstract', window );"><strong>Non-current liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Long-term lease liabilities</a></td>
<td class="nump">23,680<span></span>
</td>
<td class="nump">26,191<span></span>
</td>
<td class="nump">22,005<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPortionOfNoncurrentLoansReceived', window );">Long-term bank loans</a></td>
<td class="nump">237,781<span></span>
</td>
<td class="nump">262,995<span></span>
</td>
<td class="nump">229,466<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings', window );">Other long-term loans</a></td>
<td class="nump">29,373<span></span>
</td>
<td class="nump">32,488<span></span>
</td>
<td class="nump">21,582<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Debentures</a></td>
<td class="nump">104,887<span></span>
</td>
<td class="nump">116,009<span></span>
</td>
<td class="nump">91,714<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax</a></td>
<td class="nump">2,516<span></span>
</td>
<td class="nump">2,783<span></span>
</td>
<td class="nump">6,770<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentFinancialLiabilities', window );">Other long-term liabilities</a></td>
<td class="nump">939<span></span>
</td>
<td class="nump">1,039<span></span>
</td>
<td class="nump">2,021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Derivatives</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">28,354<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Total Non-current liabilities</a></td>
<td class="nump">399,176<span></span>
</td>
<td class="nump">441,505<span></span>
</td>
<td class="nump">401,912<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total liabilities</a></td>
<td class="nump">487,753<span></span>
</td>
<td class="nump">539,476<span></span>
</td>
<td class="nump">493,080<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAbstract', window );"><strong>Equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">Share capital</a></td>
<td class="nump">25,613<span></span>
</td>
<td class="nump">28,329<span></span>
</td>
<td class="nump">25,613<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SharePremium', window );">Share premium</a></td>
<td class="nump">86,159<span></span>
</td>
<td class="nump">95,295<span></span>
</td>
<td class="nump">86,038<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TreasuryShares', window );">Treasury shares</a></td>
<td class="num">(1,736)<span></span>
</td>
<td class="num">(1,920)<span></span>
</td>
<td class="num">(1,736)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransactionReserveWithNonControllingInterests', window );">Transaction reserve with non-controlling Interests</a></td>
<td class="nump">5,697<span></span>
</td>
<td class="nump">6,301<span></span>
</td>
<td class="nump">5,697<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherReserves', window );">Reserves</a></td>
<td class="nump">4,299<span></span>
</td>
<td class="nump">4,755<span></span>
</td>
<td class="num">(12,632)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RetainedEarnings', window );">Accumulated deficit</a></td>
<td class="num">(5,037)<span></span>
</td>
<td class="num">(5,571)<span></span>
</td>
<td class="num">(7,256)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAttributableToOwnersOfParent', window );">Total equity attributed to shareholders of the Company</a></td>
<td class="nump">114,995<span></span>
</td>
<td class="nump">127,189<span></span>
</td>
<td class="nump">95,724<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Non-Controlling Interest</a></td>
<td class="nump">10,104<span></span>
</td>
<td class="nump">11,175<span></span>
</td>
<td class="num">(12,647)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total equity</a></td>
<td class="nump">125,099<span></span>
</td>
<td class="nump">138,364<span></span>
</td>
<td class="nump">83,077<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities and equity</a></td>
<td class="nump">&#8364; 612,852<span></span>
</td>
<td class="nump">$ 677,840<span></span>
</td>
<td class="nump">&#8364; 576,157<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AdvancesOnAccountOfInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Advances on account of investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AdvancesOnAccountOfInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_MarketableSecuritie">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Marketable securities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_MarketableSecuritie</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ShortTermDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of short-term deposits held by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ShortTermDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_TransactionReserveWithNonControllingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing transaction reserve with non-controlling interests within equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TransactionReserveWithNonControllingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners. [Refer: Current assets; Disposal groups classified as held for sale [member]; Non-current assets or disposal groups classified as held for sale; Non-current assets or disposal groups classified as held for distribution to owners]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have the right at the end of the reporting period to defer settlement for at least twelve months after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_iii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 69<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current notes and debentures issued and the current portion of non-current notes and debentures issued. [Refer: Notes and debentures issued]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPortionOfLongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPortionOfLongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentReceivablesFromContractsWithCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current receivables from contracts with customers. [Refer: Receivables from contracts with customers]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2023-01-01<br> -Paragraph 105<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_105&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentReceivablesFromContractsWithCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentRestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentRestrictedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of equity attributable to the owners of the parent. This specifically excludes non-controlling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph r<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_r&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of identifiable non-monetary assets without physical substance. This amount does not include goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2023-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of investments accounted for using the equity method. The equity method is a method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor's share of net assets of the investee. The investor's profit or loss includes its share of the profit or loss of the investee. The investor's other comprehensive income includes its share of the other comprehensive income of the investee. [Refer: At cost [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B16&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssuedCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal value of capital issued.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssuedCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities included in disposal groups classified as held for sale. [Refer: Liabilities; Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2023-01-01<br> -Paragraph 38<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_38&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph p<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_p&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of equity in a subsidiary not attributable, directly or indirectly, to a parent. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 12<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_12_f&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 10<br> -IssueDate 2023-01-01<br> -Paragraph 22<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=10&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_22&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph q<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_q&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that do not meet the definition of current assets. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_ii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial assets. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_iv&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 69<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentPortionOfNoncurrentLoansReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current loans received. [Refer: Loans received]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentPortionOfNoncurrentLoansReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current notes and debentures issued. [Refer: Notes and debentures issued]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current other borrowings. [Refer: Other borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentReceivablesFromContractsWithCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current receivables from contracts with customers. [Refer: Receivables from contracts with customers]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2023-01-01<br> -Paragraph 105<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_105&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentReceivablesFromContractsWithCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentRestrictedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets that the entity does not separately disclose in the same statement or note. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2023-01-01<br> -Paragraph 119<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_119&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial liabilities that the entity does not separately disclose in the same statement or note. [Refer: Other financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B13<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B13_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph m<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_m&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherReserves">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing reserves within equity, not including retained earnings. [Refer: Retained earnings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherReserves</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period. Note that right-of-use assets are not included. [Contrast: Property, plant and equipment including right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RetainedEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the entity's cumulative undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph IG6<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RetainedEarnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term that do not meet the definition of investment property. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 53<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SharePremium">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount received or receivable from the issuance of the entity's shares in excess of nominal value.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SharePremium</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current amount of payment due to suppliers for goods and services used in entity's business. [Refer: Current liabilities; Trade payables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 70<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_70&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TreasuryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>An entity&#8217;s own equity instruments, held by the entity or other members of the consolidated group.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2023-01-01<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=32&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TreasuryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583030221168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Profit or Loss and Other Comprehensive Income (Loss)<br> &#8364; in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="6">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;) </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>&#8364; / shares</div>
</th>
<th class="th"><sup>[1]</sup></th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;) </div>
<div>&#8364; / shares</div>
</th>
<th class="th"><sup>[1]</sup></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">&#8364; 48,834<span></span>
</td>
<td class="nump">$ 54,012<span></span>
</td>
<td class="nump">&#8364; 52,241<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">&#8364; 44,705<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Operating expenses</a></td>
<td class="num">(22,861)<span></span>
</td>
<td class="num">(25,285)<span></span>
</td>
<td class="num">(23,671)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(17,223)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization expenses</a></td>
<td class="num">(16,012)<span></span>
</td>
<td class="num">(17,710)<span></span>
</td>
<td class="num">(15,580)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(14,641)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="nump">9,961<span></span>
</td>
<td class="nump">11,017<span></span>
</td>
<td class="nump">12,990<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">12,841<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ProjectDevelopmentCosts', window );">Project development costs</a></td>
<td class="num">(4,465)<span></span>
</td>
<td class="num">(4,938)<span></span>
</td>
<td class="num">(3,784)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(2,508)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SellingGeneralAndAdministrativeExpense', window );">General and administrative expenses</a></td>
<td class="num">(5,283)<span></span>
</td>
<td class="num">(5,843)<span></span>
</td>
<td class="num">(5,855)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(5,624)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ShareOfProfitLossOfEquityAccountedInvestees', window );">Share of profits of equity accounted investee</a></td>
<td class="nump">4,320<span></span>
</td>
<td class="nump">4,778<span></span>
</td>
<td class="nump">1,206<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">117<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Operating profit</a></td>
<td class="nump">4,533<span></span>
</td>
<td class="nump">5,014<span></span>
</td>
<td class="nump">4,557<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">4,826<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Financing income</a></td>
<td class="nump">8,747<span></span>
</td>
<td class="nump">9,675<span></span>
</td>
<td class="nump">6,443<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">673<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancingIncomeExpensesInConnectionWithDerivativesNet', window );">Financing income (expenses) in connection with derivatives and warrants, net</a></td>
<td class="nump">251<span></span>
</td>
<td class="nump">278<span></span>
</td>
<td class="nump">605<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(841)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Financing expenses</a></td>
<td class="num">(12,555)<span></span>
</td>
<td class="num">(13,886)<span></span>
</td>
<td class="num">(10,524)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(27,593)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinanceIncomeExpenseNet', window );">Financing expenses, net</a></td>
<td class="num">(3,557)<span></span>
</td>
<td class="num">(3,933)<span></span>
</td>
<td class="num">(3,476)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(27,761)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Profit (loss) before taxes on income</a></td>
<td class="nump">976<span></span>
</td>
<td class="nump">1,081<span></span>
</td>
<td class="nump">1,081<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(22,935)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Tax benefit (Taxes on income)</a></td>
<td class="nump">1,436<span></span>
</td>
<td class="nump">1,588<span></span>
</td>
<td class="num">(1,652)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">2,536<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromContinuingOperations', window );">Profit (loss) from continuing operations</a></td>
<td class="nump">2,412<span></span>
</td>
<td class="nump">2,669<span></span>
</td>
<td class="num">(571)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(20,399)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromDiscontinuedOperations', window );">Profit (loss) from discontinued operation (net of tax)</a></td>
<td class="num">(1,787)<span></span>
</td>
<td class="num">(1,976)<span></span>
</td>
<td class="nump">711<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">759<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit (loss) for the year</a></td>
<td class="nump">625<span></span>
</td>
<td class="nump">693<span></span>
</td>
<td class="nump">140<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(19,640)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeStatementAbstract', window );"><strong>Profit (loss) attributable to:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent', window );">Owners of the Company</a></td>
<td class="nump">2,219<span></span>
</td>
<td class="nump">2,456<span></span>
</td>
<td class="num">(357)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(15,090)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="num">(1,594)<span></span>
</td>
<td class="num">(1,763)<span></span>
</td>
<td class="nump">497<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(4,550)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit (loss) for the year</a></td>
<td class="nump">625<span></span>
</td>
<td class="nump">693<span></span>
</td>
<td class="nump">140<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(19,640)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherComprehensiveIncomeLossItemsThatAfterInitialRecognitionInComprehensiveIncomeLossWereOrWillBeTransferredToProfitOrLossAbstract', window );"><strong>Other comprehensive income (loss) items that after initial recognition in comprehensive income (loss) were or will be transferred to profit or loss:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads', window );">Foreign currency translation differences for foreign operations</a></td>
<td class="num">(7,949)<span></span>
</td>
<td class="num">(8,792)<span></span>
</td>
<td class="num">(7,829)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">12,284<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments', window );">Effective portion of change in fair value of cash flow hedges</a></td>
<td class="nump">39,431<span></span>
</td>
<td class="nump">43,611<span></span>
</td>
<td class="num">(65,542)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(35,097)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss', window );">Net change in fair value of cash flow hedges transferred to profit or loss</a></td>
<td class="nump">9,794<span></span>
</td>
<td class="nump">10,833<span></span>
</td>
<td class="nump">38,080<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">18,315<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Total other comprehensive income (loss)</a></td>
<td class="nump">41,276<span></span>
</td>
<td class="nump">45,652<span></span>
</td>
<td class="num">(35,291)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(4,498)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MiscellaneousOtherComprehensiveIncomeAbstract', window );"><strong>Total other comprehensive income (loss) attributable to:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent', window );">Owners of the Company</a></td>
<td class="nump">16,931<span></span>
</td>
<td class="nump">18,726<span></span>
</td>
<td class="num">(19,920)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">3,124<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">24,345<span></span>
</td>
<td class="nump">26,926<span></span>
</td>
<td class="num">(15,371)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(7,622)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Total other comprehensive income (loss)</a></td>
<td class="nump">41,276<span></span>
</td>
<td class="nump">45,652<span></span>
</td>
<td class="num">(35,291)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(4,498)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income (loss) for the year</a></td>
<td class="nump">41,901<span></span>
</td>
<td class="nump">46,345<span></span>
</td>
<td class="num">(35,151)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(24,138)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract', window );"><strong>Total comprehensive income (loss) for the year attributable to:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent', window );">Owners of the Company</a></td>
<td class="nump">19,150<span></span>
</td>
<td class="nump">21,182<span></span>
</td>
<td class="num">(20,277)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(11,966)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">22,751<span></span>
</td>
<td class="nump">25,163<span></span>
</td>
<td class="num">(14,874)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(12,172)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income (loss) for the year</a></td>
<td class="nump">&#8364; 41,901<span></span>
</td>
<td class="nump">$ 46,345<span></span>
</td>
<td class="num">&#8364; (35,151)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">&#8364; (24,138)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShare', window );">Basic net earning (loss) per share (in Euro per share and Dollars per share) | (per share)</a></td>
<td class="nump">&#8364; 0.17<span></span>
</td>
<td class="nump">$ 0.19<span></span>
</td>
<td class="num">&#8364; (0.03)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">&#8364; (1.18)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShare', window );">Diluted net earning (loss) per share (in Euro per share and Dollars per share) | (per share)</a></td>
<td class="nump">0.17<span></span>
</td>
<td class="nump">0.19<span></span>
</td>
<td class="num">(0.03)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(1.18)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShareFromContinuingOperations', window );">Basic profit (loss) per share from continuing operations (in Euro per share and Dollars per share) | (per share)</a></td>
<td class="nump">0.31<span></span>
</td>
<td class="nump">0.34<span></span>
</td>
<td class="num">(0.08)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(1.24)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations', window );">Diluted profit (loss) per share from continuing operations (in Euro per share and Dollars per share) | (per share)</a></td>
<td class="nump">0.31<span></span>
</td>
<td class="nump">0.34<span></span>
</td>
<td class="num">(0.08)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(1.24)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations', window );">Basic profit (loss) per share from discontinued operation (in Euro per share and Dollars per share) | (per share)</a></td>
<td class="num">(0.14)<span></span>
</td>
<td class="num">(0.15)<span></span>
</td>
<td class="nump">0.05<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">0.06<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations', window );">Diluted profit (loss) per share from discontinued operation (in Euro per share and Dollars per share) | (per share)</a></td>
<td class="num">&#8364; (0.14)<span></span>
</td>
<td class="num">$ (0.15)<span></span>
</td>
<td class="nump">&#8364; 0.05<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">&#8364; 0.06<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr><td colspan="7"></td></tr>
<tr><td colspan="7"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Reclassified due to discontinued operation - see Note 23.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Reclassified &#8211; see Note 2G.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_FinanceIncomeExpenseNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing income (expenses), net.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FinanceIncomeExpenseNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_FinancingIncomeExpensesInConnectionWithDerivativesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing income (expenses) in connection with derivatives, net.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FinancingIncomeExpensesInConnectionWithDerivativesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net change in fair value of cash flow hedges transferred to profit or loss.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_OtherComprehensiveIncomeLossItemsThatAfterInitialRecognitionInComprehensiveIncomeLossWereOrWillBeTransferredToProfitOrLossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OtherComprehensiveIncomeLossItemsThatAfterInitialRecognitionInComprehensiveIncomeLossWereOrWillBeTransferredToProfitOrLossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ProjectDevelopmentCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Project development costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ProjectDevelopmentCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ShareOfProfitLossOfEquityAccountedInvestees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents share of profit or loss of equity accounted investees.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ShareOfProfitLossOfEquityAccountedInvestees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShareFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Basic earnings (loss) per share from continuing operations. [Refer: Basic earnings (loss) per share; Continuing operations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShareFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Basic earnings (loss) per share from discontinued operations. [Refer: Basic earnings (loss) per share; Discontinued operations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 68<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 81A<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to non-controlling interests. [Refer: Comprehensive income; Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81B_b_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to owners of the parent. [Refer: Comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81B_b_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B13<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 104<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutedEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator), divided by the weighted average number of ordinary shares outstanding during the period (the denominator), both adjusted for the effects of all dilutive potential ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Diluted earnings (loss) per share from continuing operations. [Refer: Continuing operations [member]; Diluted earnings (loss) per share]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Diluted earnings (loss) per share from discontinued operations. [Refer: Diluted earnings (loss) per share; Discontinued operations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 68<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 82<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue less cost of sales. [Refer: Cost of sales; Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income from continuing operations attributable to owners of the parent. [Refer: Continuing operations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeStatementAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeStatementAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2023-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 79<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MiscellaneousOtherComprehensiveIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MiscellaneousOtherComprehensiveIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OperatingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of all operating expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OperatingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_viii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 81A<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81A_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_d_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income attributable to non-controlling interests. [Refer: Non-controlling interests; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income attributable to owners of the parent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, after reclassification adjustments, related to change in value of foreign currency basis spreads. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to gains (losses) on hedging instruments that hedge investments in equity instruments that the entity has designated at fair value through other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 17<br> -IssueDate 2023-01-01<br> -Paragraph 113<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to non-controlling interests. [Refer: Profit (loss); Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 12<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_12_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81B_a_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing operations. [Refer: Continuing operations [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause vi<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_vi&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from discontinued operations. [Refer: Discontinued operations [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause vii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_vii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 82<br> -Subparagraph ea<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_82_ea&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 98<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_98_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from operating activities of the entity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2023-01-01<br> -Paragraph IE33<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=32&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_IE33&amp;doctype=Illustrative%20Examples<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SellingGeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to selling, general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SellingGeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583030541920">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Changes in Equity<br> &#8364; in Thousands, $ in Thousands</strong></div></th>
<th class="th">
<div>Share capital </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Share capital </div>
<div>USD ($)</div>
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<th class="th">
<div>Share premium </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Share premium </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Accumulated deficit </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Accumulated deficit </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Treasury shares </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Treasury shares </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Translation reserve from foreign operations </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Translation reserve from foreign operations </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Hedging Reserve </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Hedging Reserve </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Transaction reserve with non-controlling Interests </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Transaction reserve with non-controlling Interests </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Total </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Total </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Non- controlling Interests </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Non- controlling Interests </div>
<div>USD ($)</div>
</th>
<th class="th" colspan="2"><div>EUR (&#8364;)</div></th>
<th class="th"><div>USD ($)</div></th>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2020</a></td>
<td class="nump">&#8364; 25,102<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 82,401<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 8,191<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (1,736)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3,823<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 341<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6,106<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 124,228<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 798<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 125,026<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit (loss) for the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,090)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,090)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,550)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(19,640)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeBeforeTax', window );">Other comprehensive income for the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,542<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(8,418)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,124<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,622)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,498)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ComprehensiveIncomeloss', window );">Total comprehensive income (loss) for the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,090)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,542<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(8,418)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(11,966)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(12,172)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(24,138)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Issuance of ordinary shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,682<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary', window );">Acquisition of shares in subsidiaries from non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(409)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(409)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">961<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">552<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity', window );">Warrants exercise</a></td>
<td class="nump">454<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,419<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,873<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,873<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions', window );">Options exercise</a></td>
<td class="nump">49<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Share-based payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">63<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">63<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">63<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2021</a></td>
<td class="nump">25,605<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">85,883<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(6,899)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,736)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,365<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(8,077)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,697<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">115,838<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,731)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">114,107<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit (loss) for the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(357)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(357)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">497<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">140<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeBeforeTax', window );">Other comprehensive income for the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,395)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(12,525)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(19,920)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,371)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(35,291)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ComprehensiveIncomeloss', window );">Total comprehensive income (loss) for the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(357)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,395)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(12,525)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(20,277)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(14,874)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(35,151)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IssuanceOfCapitalNoteToNoncontrollingInterest', window );">Issuance of Capital note to non-controlling interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,958<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,958<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions', window );">Options exercise</a></td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Share-based payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">127<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">127<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">127<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2022</a></td>
<td class="nump">25,613<span></span>
</td>
<td class="nump">$ 28,329<span></span>
</td>
<td class="nump">86,038<span></span>
</td>
<td class="nump">$ 95,161<span></span>
</td>
<td class="num">(7,256)<span></span>
</td>
<td class="num">$ (8,027)<span></span>
</td>
<td class="num">(1,736)<span></span>
</td>
<td class="num">$ (1,920)<span></span>
</td>
<td class="nump">7,970<span></span>
</td>
<td class="nump">$ 8,816<span></span>
</td>
<td class="num">(20,602)<span></span>
</td>
<td class="num">$ (22,787)<span></span>
</td>
<td class="nump">5,697<span></span>
</td>
<td class="nump">$ 6,301<span></span>
</td>
<td class="nump">95,724<span></span>
</td>
<td class="nump">$ 105,873<span></span>
</td>
<td class="num">(12,647)<span></span>
</td>
<td class="num">$ (13,988)<span></span>
</td>
<td class="nump">83,077<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 91,885<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit (loss) for the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,219<span></span>
</td>
<td class="nump">2,456<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,219<span></span>
</td>
<td class="nump">2,456<span></span>
</td>
<td class="num">(1,594)<span></span>
</td>
<td class="num">(1,763)<span></span>
</td>
<td class="nump">625<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">693<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeBeforeTax', window );">Other comprehensive income for the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,585)<span></span>
</td>
<td class="num">(8,389)<span></span>
</td>
<td class="nump">24,516<span></span>
</td>
<td class="nump">27,115<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">16,931<span></span>
</td>
<td class="nump">18,726<span></span>
</td>
<td class="nump">24,345<span></span>
</td>
<td class="nump">26,926<span></span>
</td>
<td class="nump">41,276<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">45,652<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ComprehensiveIncomeloss', window );">Total comprehensive income (loss) for the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,219<span></span>
</td>
<td class="nump">2,456<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,585)<span></span>
</td>
<td class="num">(8,389)<span></span>
</td>
<td class="nump">24,516<span></span>
</td>
<td class="nump">27,115<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">19,150<span></span>
</td>
<td class="nump">21,182<span></span>
</td>
<td class="nump">22,751<span></span>
</td>
<td class="nump">25,163<span></span>
</td>
<td class="nump">41,901<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">46,345<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Share-based payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">121<span></span>
</td>
<td class="nump">134<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">121<span></span>
</td>
<td class="nump">134<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">121<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">134<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2023</a></td>
<td class="nump">&#8364; 25,613<span></span>
</td>
<td class="nump">$ 28,329<span></span>
</td>
<td class="nump">&#8364; 86,159<span></span>
</td>
<td class="nump">$ 95,295<span></span>
</td>
<td class="num">&#8364; (5,037)<span></span>
</td>
<td class="num">$ (5,571)<span></span>
</td>
<td class="num">&#8364; (1,736)<span></span>
</td>
<td class="num">$ (1,920)<span></span>
</td>
<td class="nump">&#8364; 385<span></span>
</td>
<td class="nump">$ 427<span></span>
</td>
<td class="nump">&#8364; 3,914<span></span>
</td>
<td class="nump">$ 4,328<span></span>
</td>
<td class="nump">&#8364; 5,697<span></span>
</td>
<td class="nump">$ 6,301<span></span>
</td>
<td class="nump">&#8364; 114,995<span></span>
</td>
<td class="nump">$ 127,189<span></span>
</td>
<td class="nump">&#8364; 10,104<span></span>
</td>
<td class="nump">$ 11,175<span></span>
</td>
<td class="nump">&#8364; 125,099<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 138,364<span></span>
</td>
</tr>
<tr><td colspan="22"></td></tr>
<tr><td colspan="22"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Reclassified due to discontinued operation - see Note 23.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ComprehensiveIncomeloss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of comprehensive income loss.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ComprehensiveIncomeloss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_IssuanceOfCapitalNoteToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of issuance of capital to non-controlling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_IssuanceOfCapitalNoteToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the acquisition of subsidiaries. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the exercise of options.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughExerciseOfOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the exercise of warrants.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughExerciseOfWarrantsEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from share-based payment transactions. [Refer: Equity]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssueOfEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase in equity through the issue of equity instruments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssueOfEquity</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, before tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 91<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_91_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 17<br> -IssueDate 2023-01-01<br> -Paragraph 113<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td>duration</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583030530848">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Cash Flows<br> &#8364; in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="6">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th" colspan="2">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th" colspan="2">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CashFlowsFromOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit (loss) for the year</a></td>
<td class="nump">&#8364; 625<span></span>
</td>
<td class="nump">$ 693<span></span>
</td>
<td class="nump">&#8364; 140<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">&#8364; (19,640)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AdjustmentsForAbstract', window );"><strong>Adjustments for:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AdjustmentsForFinancingExpensesNet', window );">Financing expenses, net</a></td>
<td class="nump">3,034<span></span>
</td>
<td class="nump">3,355<span></span>
</td>
<td class="nump">2,466<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">26,884<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ProfitFromSettlementOfDerivativesContract', window );">Profit from settlement of derivatives contract</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(407)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss', window );">Impairment losses on assets of disposal groups classified as held-for-sale</a></td>
<td class="nump">2,565<span></span>
</td>
<td class="nump">2,837<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="nump">16,473<span></span>
</td>
<td class="nump">18,220<span></span>
</td>
<td class="nump">16,092<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">15,116<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForSharebasedPayments', window );">Share-based payment transactions</a></td>
<td class="nump">121<span></span>
</td>
<td class="nump">134<span></span>
</td>
<td class="nump">127<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">63<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ShareOfProfitLossOfEquityAccountedInvestees', window );">Share of profits of equity accounted investees</a></td>
<td class="num">(4,320)<span></span>
</td>
<td class="num">(4,778)<span></span>
</td>
<td class="num">(1,206)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(117)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables', window );">Change in trade receivables and other receivables</a></td>
<td class="num">(302)<span></span>
</td>
<td class="num">(334)<span></span>
</td>
<td class="nump">724<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(1,883)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets', window );">Change in other assets</a></td>
<td class="num">(681)<span></span>
</td>
<td class="num">(753)<span></span>
</td>
<td class="num">(209)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(545)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject', window );">Change in receivables from concessions project</a></td>
<td class="nump">1,778<span></span>
</td>
<td class="nump">1,967<span></span>
</td>
<td class="num">(521)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,580<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable', window );">Change in trade payables</a></td>
<td class="num">(45)<span></span>
</td>
<td class="num">(50)<span></span>
</td>
<td class="nump">1,697<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">154<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncreaseDecreaseInOtherOperatingPayables', window );">Change in other payables</a></td>
<td class="num">(2,235)<span></span>
</td>
<td class="num">(2,472)<span></span>
</td>
<td class="nump">3,807<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">2,380<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncomeTaxExpense', window );">Income tax expense (tax benefit)</a></td>
<td class="num">(1,852)<span></span>
</td>
<td class="num">(2,048)<span></span>
</td>
<td class="nump">2,103<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(2,281)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities', window );">Income taxes paid</a></td>
<td class="num">(912)<span></span>
</td>
<td class="num">(1,009)<span></span>
</td>
<td class="num">(6,337)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(94)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee', window );">Repayment of interest on loan from an equity accounted investee</a></td>
<td class="nump">1,501<span></span>
</td>
<td class="nump">1,660<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">859<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestReceivedClassifiedAsOperatingActivities', window );">Interest received</a></td>
<td class="nump">2,936<span></span>
</td>
<td class="nump">3,247<span></span>
</td>
<td class="nump">1,896<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,844<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestPaidClassifiedAsOperatingActivities', window );">Interest paid</a></td>
<td class="num">(10,082)<span></span>
</td>
<td class="num">(11,151)<span></span>
</td>
<td class="num">(9,459)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(7,801)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForReconcileProfitLoss', window );">Total adjustment to reconcile profit and loss</a></td>
<td class="nump">7,979<span></span>
</td>
<td class="nump">8,825<span></span>
</td>
<td class="nump">11,180<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">35,752<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Net cash provided by operating activities</a></td>
<td class="nump">8,604<span></span>
</td>
<td class="nump">9,518<span></span>
</td>
<td class="nump">11,320<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">16,112<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CashFlowsFromInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities', window );">Acquisition of fixed assets</a></td>
<td class="num">(58,848)<span></span>
</td>
<td class="num">(65,088)<span></span>
</td>
<td class="num">(46,644)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(79,696)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestPaidClassifiedAsInvestingActivities', window );">Interest paid capitalized to fixed assets</a></td>
<td class="num">(2,283)<span></span>
</td>
<td class="num">(2,525)<span></span>
</td>
<td class="num">(1,966)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(1,189)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RepaymentOfLoanFromToEquityAccountedInvestee', window );">Repayment of loan to an equity accounted investee</a></td>
<td class="nump">1,324<span></span>
</td>
<td class="nump">1,464<span></span>
</td>
<td class="nump">149<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,400<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoanToEquityAccountedInvestee', window );">Loan to an equity accounted investee</a></td>
<td class="num">(128)<span></span>
</td>
<td class="num">(142)<span></span>
</td>
<td class="num">(128)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(335)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AdvancesOnAccountOfInvestment', window );">Advances on account of investments</a></td>
<td class="num">(421)<span></span>
</td>
<td class="num">(466)<span></span>
</td>
<td class="num">(774)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ProceedsFromAdvancesOnAccountOfInvestmentsInProcess', window );">Proceeds from advances on account of investments in process</a></td>
<td class="nump">2,218<span></span>
</td>
<td class="nump">2,453<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ProceedsFrominvestmentInMarketableSecurities', window );">Proceeds from sales of (investment in) marketable securities</a></td>
<td class="nump">2,837<span></span>
</td>
<td class="nump">3,138<span></span>
</td>
<td class="num">(1,062)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(112)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ProceedsFromSettlementOfDerivativesNet', window );">Investment in settlement of derivatives, net</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(528)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(976)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents', window );">Proceed from (investment in) restricted cash, net</a></td>
<td class="nump">840<span></span>
</td>
<td class="nump">929<span></span>
</td>
<td class="num">(4,873)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(5,990)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments', window );">Proceeds from (investment in) short term deposit</a></td>
<td class="num">(1,092)<span></span>
</td>
<td class="num">(1,208)<span></span>
</td>
<td class="nump">27,645<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(18,599)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivities', window );">Net cash used in investing activities</a></td>
<td class="num">(55,553)<span></span>
</td>
<td class="num">(61,445)<span></span>
</td>
<td class="num">(28,181)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(105,497)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CashFlowsFromFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Sale of shares in subsidiaries to non-controlling interests</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,400<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromExerciseOfOptions', window );">Proceeds from options</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">36<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">49<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAssociatedWithLongTermLoans', window );">Cost associated with long-term loans</a></td>
<td class="num">(1,877)<span></span>
</td>
<td class="num">(2,076)<span></span>
</td>
<td class="num">(9,988)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(2,796)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PaymentOfPrincipalOfLeaseLiabilities', window );">Payment of principal of lease liabilities</a></td>
<td class="num">(1,156)<span></span>
</td>
<td class="num">(1,279)<span></span>
</td>
<td class="num">(5,703)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(4,803)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromNoncurrentBorrowings', window );">Proceeds from long-term loans</a></td>
<td class="nump">32,157<span></span>
</td>
<td class="nump">35,567<span></span>
</td>
<td class="nump">215,170<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">32,947<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfNoncurrentBorrowings', window );">Repayment of long-term loans</a></td>
<td class="num">(12,736)<span></span>
</td>
<td class="num">(14,087)<span></span>
</td>
<td class="num">(153,751)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(18,905)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBondsNotesAndDebentures', window );">Repayment of Debentures</a></td>
<td class="num">(17,763)<span></span>
</td>
<td class="num">(19,647)<span></span>
</td>
<td class="num">(19,764)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(30,730)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RepaymentOfSwapInstrumentAssociatedWithLongTermLoans', window );">Repayment of SWAP instrument associated with long term loans</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(3,290)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ProceedFromSettlementOfDerivativesNet', window );">Proceed from settlement of derivatives, net</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">3,800<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ProceedsFromIssuanceOfConvertibleDebentures', window );">Proceeds from issue of convertible debentures</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">15,571<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ProceedsFromIssuanceOfDebenturesNet', window );">Proceeds from issuance of Debentures, net</a></td>
<td class="nump">55,808<span></span>
</td>
<td class="nump">61,726<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">57,717<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IssueOfWarrants', window );">Proceeds from issuance / exercise of warrants</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">3,746<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivities', window );">Net cash provided by financing activities</a></td>
<td class="nump">54,433<span></span>
</td>
<td class="nump">60,204<span></span>
</td>
<td class="nump">26,510<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">54,196<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents', window );">Effect of exchange rate fluctuations on cash and cash equivalents</a></td>
<td class="num">(2,387)<span></span>
</td>
<td class="num">(2,640)<span></span>
</td>
<td class="num">(4,420)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">9,573<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents', window );">Increase (decrease) in cash and cash equivalents</a></td>
<td class="nump">5,097<span></span>
</td>
<td class="nump">5,637<span></span>
</td>
<td class="nump">5,229<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(25,616)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents at the beginning of year</a></td>
<td class="nump">46,458<span></span>
</td>
<td class="nump">51,384<span></span>
</td>
<td class="nump">41,229<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">66,845<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations', window );">Cash from disposal groups classified as held-for-sale</a></td>
<td class="num">(428)<span></span>
</td>
<td class="num">(473)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents at the end of the year</a></td>
<td class="nump">&#8364; 51,127<span></span>
</td>
<td class="nump">$ 56,548<span></span>
</td>
<td class="nump">&#8364; 46,458<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">&#8364; 41,229<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr><td colspan="7"></td></tr>
<tr><td colspan="7"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Reclassified due to discontinued operation - see Note 23.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AdjustmentsForAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AdjustmentsForAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AdjustmentsForFinancingExpensesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing income (expenses), net.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AdjustmentsForFinancingExpensesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AdvancesOnAccountOfInvestment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Advances on account of investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AdvancesOnAccountOfInvestment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CashFlowsFromFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CashFlowsFromFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CashFlowsFromInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CashFlowsFromInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CashFlowsFromOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CashFlowsFromOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CostAssociatedWithLongTermLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash outflow for cost associated with long term loans during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CostAssociatedWithLongTermLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Change in receivable from concessions project.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_IssueOfWarrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for repayments of issue of warrants.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_IssueOfWarrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LoanToEquityAccountedInvestee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loan to an equity accounted investee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LoanToEquityAccountedInvestee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payment of interest on loan from an equity accounted investee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PaymentOfPrincipalOfLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payment of principal of lease liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PaymentOfPrincipalOfLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ProceedFromSettlementOfDerivativesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of proceed from settlement of derivatives, net.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ProceedFromSettlementOfDerivativesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ProceedsFromAdvancesOnAccountOfInvestmentsInProcess">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds from advances on account of investments in process.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ProceedsFromAdvancesOnAccountOfInvestmentsInProcess</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ProceedsFromIssuanceOfConvertibleDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the cash inflow from Proceeds from issuance of convertible debentures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ProceedsFromIssuanceOfConvertibleDebentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ProceedsFromIssuanceOfDebenturesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents Proceeds from issuance of Debentures, net .</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ProceedsFromIssuanceOfDebenturesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ProceedsFromSettlementOfDerivativesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds from settlement of derivatives, net.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ProceedsFromSettlementOfDerivativesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ProceedsFrominvestmentInMarketableSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds from (investment in) marketable securities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ProceedsFrominvestmentInMarketableSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ProfitFromSettlementOfDerivativesContract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents Profit from settlement of derivatives contract.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ProfitFromSettlementOfDerivativesContract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RepaymentOfLoanFromToEquityAccountedInvestee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Repayment of loan from (to) an equity accounted investee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RepaymentOfLoanFromToEquityAccountedInvestee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RepaymentOfSwapInstrumentAssociatedWithLongTermLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represent of amount of Repayment of SWAP instrument associated with long term loans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RepaymentOfSwapInstrumentAssociatedWithLongTermLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ShareOfProfitLossOfEquityAccountedInvestees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents share of profit or loss of equity accounted investees.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ShareOfProfitLossOfEquityAccountedInvestees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in other assets to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Other assets; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 20<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in trade and other receivables to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Trade and other receivables; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 20<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments for depreciation and amortisation expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Depreciation and amortisation expense; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Impairment loss (reversal of impairment loss) recognised in profit or loss]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncomeTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments for income tax expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncomeTaxExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncreaseDecreaseInOtherOperatingPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in other operating payables to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_20_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncreaseDecreaseInOtherOperatingPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in trade accounts payable to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_20_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForReconcileProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 20<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForReconcileProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForSharebasedPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments for share-based payments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForSharebasedPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow (outflow) due to a decrease (increase) in restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow (outflow) due to a decrease (increase) in short-term deposits and investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) investing activities, which are the acquisition and disposal of long-term assets and other investments not included in cash equivalents.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) operating activities, which are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The effect of exchange rate changes on cash and cash equivalents held or due in a foreign currency. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for income taxes paid, classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in cash and cash equivalents after the effect of exchange rate changes on cash and cash equivalents held in foreign currencies. [Refer: Cash and cash equivalents; Effect of exchange rate changes on cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestPaidClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for interest paid, classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 31<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestPaidClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestPaidClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for interest paid, classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 31<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestPaidClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestReceivedClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from interest received, classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 31<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestReceivedClassifiedAsOperatingActivities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the disposal of non-current assets or disposal groups classified as held for sale and discontinued operations. [Refer: Discontinued operations [member]; Disposal groups classified as held for sale [member]; Non-current assets or disposal groups classified as held for sale]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the exercise of options.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromExerciseOfOptions</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssuingShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from issuing shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssuingShares</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from non-current borrowings obtained. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromNoncurrentBorrowings</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 17<br> -IssueDate 2023-01-01<br> -Paragraph 113<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchases of property, plant and equipment, classified as investing activities. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 16<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_16_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for repayments of bonds, notes and debentures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBondsNotesAndDebentures</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for repayments of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">ifrs-full_RepaymentsOfNoncurrentBorrowings</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022984848">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>General<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GeneralAbstract', window );"><strong>General [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory', window );">General</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 1 - General</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify">Ellomay Capital Ltd. (the &#8220;Company&#8221;)
                                            is an Israeli Company operating in the business of initiation, development, construction
                                            and production of renewable and clean energy projects in Europe, USA and Israel.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">As of December 31,
2023, the Company owns seven photovoltaic plants (each, a &#8220;PV Plant&#8221; and, together, the &#8220;PV Plants&#8221;) connected
to their respective national grids and operating as follows:</p>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in">(i)</td><td style="text-align: justify">five photovoltaic plants in Spain with
                                            an aggregate installed capacity of approximately 35.9 Mega Watt (&#8220;MW&#8221;),</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><span style="-sec-ix-hidden: hidden-fact-121">(ii)</span></td><td style="text-align: justify">51% of Talasol Solar S.L.U (&#8220;Talasol&#8221;), which owns a photovoltaic plant with installed capacity of 300MW in the municipality of Talav&#225;n, C&#225;ceres, Spain (the &#8220;Talasol PV Plant&#8221;), and</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in">(iii)</td><td style="text-align: justify">one photovoltaic plant in Israel with
                                            an aggregate installed capacity of approximately 9 MW. See Note 23 for Non-Current Assets
                                            and Disposal Groups Held for Sale.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify; text-indent: 0in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">In addition, the
Company indirectly owns:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify; text-indent: 0in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><span style="-sec-ix-hidden: hidden-fact-123">(i)</span></td><td style="text-align: justify">9.375% of Dorad Energy Ltd. (&#8220;Dorad&#8221;),</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in">(ii)</td><td style="text-align: justify">Ellomay Solar Italy One SRL and Ellomay
                                            Solar Italy Two SRL, which own photovoltaic plants with installed capacity of 14.8 MW and
                                            4.95 MW, respectively, in the Lazio Region, Italy that are ready for connection to the grid,</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in">(iii)</td><td style="text-align: justify">Ellomay Solar Italy Four SRL, Ellomay
                                            Solar Italy Five SRL, Ellomay Solar Italy Seven SRL, Ellomay Solar Italy Nine SRL and Ellomay
                                            Solar Italy Ten SRL that are developing photovoltaic projects with installed capacity of
                                            15.06 MW, 87.2 MW, 54.77 MW, 8 MW and 18 MW, respectively, in Italy that have reached &#8220;ready
                                            to build&#8221; status,</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><span style="-sec-ix-hidden: hidden-fact-118"><span style="-sec-ix-hidden: hidden-fact-119"><span style="-sec-ix-hidden: hidden-fact-120">(iv)</span></span></span></td><td style="text-align: justify">Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in&#160;the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million Nm3 per year, respectively, </td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><span style="-sec-ix-hidden: hidden-fact-122">(v)</span></td><td style="text-align: justify">83.333% of Ellomay Pumped Storage (2014) Ltd., which is constructing a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel (the &#8220;Manara PSP&#8221;), and</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in">(vi)</td><td style="text-align: justify">Fairfield Solar Project, LLC, Malakoff Solar I, LLC, Malakoff Solar II, LLC, Mexia Solar I, LLC, Mexia Solar
II, LLC, and Talco Solar, LLC, that are developing photovoltaic projects with installed capacity of 13.44 MW, 6.96 MW, 6.96 MW, 5.<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6
<span style="background-color: white">MW, 5.</span>6 <span style="background-color: white">MW and </span>10.3 <span style="background-color: white">MW
respectively, in the Dallas Metropolitan area, Texas, that have reached &#8220;ready to build&#8221; status.</span></span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify; text-indent: 0in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The Company also
develops PV projects in Italy, Spain, USA and Israel.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-align: justify; text-indent: 0in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The ordinary shares
of the Company are listed on the NYSE American and on the Tel Aviv Stock Exchange (under the symbol &#8220;ELLO&#8221;). The address
of the Company&#8217;s registered office is 18 Rothschild Blvd., Tel Aviv, Israel.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify; text-indent: 0in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>B.</b></td><td style="text-align: justify"><b>Definitions:</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In these financial statements:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Consolidated companies/subsidiaries
</span>&#8211; Companies, including partnerships, the financial statements of which are fully consolidated, directly or indirectly, with
the financial statements of the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Investee companies</span> &#8211;
Subsidiaries and companies, including partnerships, the Company&#8217;s investment in which is accounted for, directly or indirectly,
using the equity method.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Related party</span> &#8211; Within
its meaning in IAS 24 (2009), &#8220;Related Party Disclosures&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Interested parties</span> &#8211;
Within their meaning in Paragraph (1) of the definition of an &#8220;interested party&#8221; in Section 1 of the Securities Law - 1968.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Unless otherwise noted, all references
to &#8220;&#8364;,&#8221; &#8220;euro&#8221; or &#8220;EUR&#8221; are to the legal currency of the European Union, all references to &#8220;USD,&#8221;
&#8220;US dollar,&#8221; &#8220;dollars&#8221; and &#8220;$&#8221; are to United States dollars, and all references to &#8220;NIS&#8221;
are to New Israeli Shekels.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Other than as specifically noted,
all amounts translated into euro were translated based on the exchange rate as of December 31, 2023.</p><span></span>
</td>
</tr>
</table>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022864160">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Preparation<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfBasisOfPreparationAbstract', window );"><strong>Basis of Preparation [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory', window );">Basis of Preparation</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 2 - <span style="font-family: Times New Roman, Times, Serif">Basis
of Preparation</span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>A.</b></td><td style="text-align: justify"><b>Statement of compliance</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The consolidated financial
statements of the Company have been prepared in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) as issued
by the International Accounting Standards Board.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The consolidated financial statements
were authorized by the Company&#8217;s Board of Directors for issue on April 18, 2024.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>B.</b></td><td style="text-align: justify"><b>Functional and presentation currency</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">These consolidated
financial statements are presented in euro, which is the Company&#8217;s functional currency, and have been rounded to the nearest thousand,
except when otherwise indicated. The euro is the currency that represents the principal economic environment in which the Company operates.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>C.</b></td><td style="text-align: justify"><b>Basis of measurement</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The consolidated financial statements
have been prepared on the historical cost basis, except for the following assets and liabilities:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in">(i)</td><td style="text-align: justify">Investment in investee accounted for using
                                            the equity method;</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in">(ii)</td><td style="text-align: justify">Financial instruments, derivatives and
                                            other assets and liabilities measured at fair value through profit or loss; and</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in">(iii)</td><td style="text-align: justify">Deferred tax assets and liabilities.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>D.</b></td><td style="text-align: justify"><b>Operating cycle</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The operating cycle of the Company is
one year.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>E.</b></td><td style="text-align: justify"><b>Use of estimates and judgments</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><i>Use of estimates</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The preparation of financial statements
in conformity with IFRS requires management to make judgments, estimates and assumptions, that affect the application of accounting policies
and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The determination of accounting estimates
used in the preparation of the Company&#8217;s financial statements requires that management of the Company makes assumptions regarding
circumstances and events that involve considerable uncertainty. The Company&#8217;s management prepares the estimates on the basis of
past experience, various facts, external circumstances and reasonable assumptions according to the pertinent circumstances of each estimate.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period
in which the estimates are revised and in any future periods affected.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The key assumptions made in the financial
statements with respect to the future and other reasons for uncertainty with respect to estimates that have a significant risk of resulting
in a material adjustment to carrying amounts of assets and liabilities within the next financial year are discussed below:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>Recoverable amount of cash generating
unit:</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company examines at the end of each
reporting year whether there have been any events or changes in circumstances that indicate impairment of cash-generating units. When
an indication of impairment is revealed, the Company checks whether the carrying amount of the cash-generating units is recoverable.
An impairment loss is recognized if the carrying amount of the cash-generating unit exceeds its estimated recoverable amount. A principal
assumption of this estimate is the allocation of fair value (less costs of disposal) to the cash-generating units of the Company and
a possible effect of this estimate is change of the impairment loss. For more information see Note 6D.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>Fair value measurement of non-trading
derivatives:</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Within the scope of the valuation of
financial assets and derivatives not traded on an active market, management makes assumptions about inputs used in the valuation models.
Principal assumptions of this estimate are unobservable inputs used in the valuation model (especially standard deviation and discount
rates) and a possible effect of this estimate is profit or loss from a change in the fair value of those financial assets and derivatives.
For information on a sensitivity analysis of levels 2 and 3 financial instruments carried at fair value see Note 21 regarding financial
instruments.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>Recognition of deferred tax asset
in respect of tax losses:</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">A principal assumption of this estimate
is the probability that in the future there will be taxable profits against which carried forward losses can be utilized. A possible
effect of this estimate is recognition or reversal of deferred tax asset in profit or loss. See Note 19 regarding taxes on income.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>Determination of fair value:</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">Preparation of the financial statements
requires the Company to determine the fair value of certain assets and liabilities. Further information about the assumptions that were
used to determine fair value is included in Note 15, on share-based payments and Note 21, on financial instruments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>F.</b></td><td style="text-align: justify"><b>Initial application of new standards,
                                            amendments to standards and interpretations</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>1.</b></td><td style="text-align: justify"><b>Amendment to IAS 1, <i>Presentation
                                            of Financial Statements: &#8220;Disclosure of Accounting Policies.&#8221; </i>(&#8220;the
                                            IAS 1 Amendment&#8221;)</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Effective January 1, 2023, the Company
adopted IAS 1 Amendment and IFRS Practice Statement 2 &#8211;&#160;Disclosure of Accounting Policies (&#8220;IFRS Practice Statement
2&#8221;). The IAS 1 Amendment and IFRS Practice Statement 2 require the Company to disclose its material accounting policies instead
of its significant accounting policies. As a result of the adoption of these amendments, the accounting disclosure provided in the financial
statements for 2023 was reduced and adjusted according to the Company&#8217;s specific circumstances.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>2.</b></td><td style="text-align: justify"><b>Amendment to IAS 12, <i>Income
                                            Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction</i>
                                            (&#8220;the IAS 12 Amendment&#8221;)</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The IAS 12 Amendment narrows the scope
of the exemption from recognizing deferred taxes as a result of temporary differences created at the initial recognition of assets and/or
liabilities, so that it does not apply to transactions that give rise to equal and offsetting temporary differences.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As a result, companies will need to recognize
a deferred tax asset or a deferred tax liability for these temporary differences at the initial recognition of transactions that give
rise to equal and offsetting temporary differences, such as lease transactions and provisions for decommissioning and restoration.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The IAS 12 Amendment is effective for
annual periods beginning on or after January 1, 2023. For deferred taxes arising from leases and decommissioning and restoration liabilities,
the Amendment is applied by amending the opening balance of retained earnings for the earliest comparative data presented.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Application of the Amendment did not
have a material effect on the financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>G.</b></td><td style="text-align: justify"><b>Retrospective
                                            <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">classification</span></b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Comparative amounts of other comprehensive
income were retrospectively classified in order to present the change in fair value of cash flow hedges transferred to profit
or loss, which resulted in approximately &#8364; 37.3 million and &#8364;21.8 million being reclassified
for 2022 and 2021, respectively, from Effective portion of change in fair value of cash flow hedges to Net change in fair value of cash
flow hedges transferred to profit or loss. This classification did not have any effect on the profit (loss) and on the Total other comprehensive
income (loss) for the year.</p><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the basis used for the preparation of the financial statements.</p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583020191360">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Material Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfVoluntaryChangeInAccountingPolicyAbstract', window );"><strong>Material Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaterialAccountingPolicyInformationExplanatory', window );">Material Accounting Policies</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 3 - Material Accounting
Policies</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The accounting policies set out below
have been applied consistently for all periods presented in these consolidated financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Basis of consolidation and equity method accounting </b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(1)</b></td><td style="text-align: justify"><b>Subsidiaries</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Subsidiaries are entities controlled
by the Company. Control exists when the Company is exposed, or has rights, to variable returns from its involvement with the acquiree
and it has the ability to affect those returns through its power over the acquiree. Substantive rights held by the Company and others
are taken into account when assessing control. The financial statements of subsidiaries are included in the consolidated financial statements
from the date that control commences until the date that control is lost.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(2)</b></td><td style="text-align: justify"><b>Non-controlling interests</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Non-controlling interests comprise the
equity of a subsidiary that cannot be attributed, directly or indirectly, to the parent company and they include additional components
such as Issuance of capital note only to the non-controlling interest and share options of subsidiaries.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Allocation of profit or loss and other
comprehensive income to the shareholders</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Profit or loss and any part of other
comprehensive income are allocated to the owners of the Company and the non-controlling interests. Total comprehensive income is allocated
to the owners of the Company and the non-controlling interests even if the result is a negative balance of non-controlling interests.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Transactions with non-controlling
interests, while retaining control</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Transactions with non-controlling interests
while retaining control are accounted for as equity transactions. Any difference between the consideration paid or received and the change
in non-controlling interests is included in the owners&#8217; share in equity of the Company directly in Transaction reserve with non-controlling
interests.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(3)</b></td><td style="text-align: justify"><b>Investment in associates and joint ventures (equity accounted
investees)</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Associates are those entities in which
the Company has significant influence, but not control or joint control, over the financial and operating policies. There is a rebuttable
presumption that significant influence exists when the Company holds between 20% and 50% of another entity. Joint ventures are joint
arrangements in which the Company has rights to the net assets of the arrangement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Associates and joint ventures are accounted
for using the equity method (equity accounted investees) and are recognized initially at cost. The cost of the investment includes transaction
costs that are directly attributable to an expected acquisition of an associate or joint venture. The consolidated financial statements
include the Company&#8217;s share of the income and expenses in profit or loss and of other comprehensive income of equity accounted
investees, after adjustments to align the accounting policies with those of the Company, from the date that significant influence commences
until the date that significant influence ceases.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Long-term interests in associates and
joint ventures that, in substance, form part of the net investment in the associate or joint venture, such as preferred shares and long-term
loans that their repayment is not expected and is unlikely to occur in the foreseeable future, are first accounted for in accordance
with the guidance of IFRS 9 and then the equity method is applied in accordance with the guidance of IAS 28.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>B.</b></td><td style="text-align: justify"><b>Foreign currency</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(1)</b></td><td style="text-align: justify"><b>Foreign currency transactions</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Transactions in foreign currencies are
translated to the respective functional currencies of the Company at exchange rates at the dates of the transactions. Monetary assets
and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency at the exchange rate
at that date. The foreign currency gain or loss on monetary items is the difference between amortized cost in the functional currency
at the beginning of the year, adjusted for effective interest and payments during the year, and the amortized cost in foreign currency
translated at the exchange rate at the end of the year.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Non-monetary assets and liabilities denominated
in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date that
the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated
using the exchange rate at the date of the transaction.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Foreign currency differences arising
on translation are generally recognized in profit or loss, except for qualifying cash flow hedges to the extent the hedge is effective,
which are recognized in other comprehensive income.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(2)</b></td><td style="text-align: justify"><b>Foreign operations</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The assets and liabilities of foreign
operations, including adjustments arising on consolidation, are translated at exchange rates at the reporting date. The income and expenses
for each period presented in the statement of profit or loss and other comprehensive income (loss) are translated at average exchange
rates for the presented periods; however, if exchange rates fluctuate significantly, income and expenses are translated at the exchange
rates at the date of the transactions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Foreign currency exchange differences
are recognized in equity as a separate component of other comprehensive income (loss): &#8220;foreign currency translation adjustments&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">When the foreign operation is a non-wholly-owned
subsidiary of the Company, then the relevant proportionate share of the foreign operation translation difference is allocated to the
non-controlling interests.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Foreign exchange gains and losses arising
from a monetary item receivable from, or payable to, a foreign operation, the settlement of which is neither planned nor likely in the
foreseeable future, are considered to form part of a net investment in a foreign operation and are recognized in other comprehensive
income (loss) and are presented within equity as part of the translation reserve.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(3)</b></td><td style="text-align: justify"><b>Presentation Currency</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">For the convenience of the reader, the
reported euro figures as of December 31, 2023 and for the year then ended, are also presented in dollars, translated at the representative
rate of exchange as of December 31, 2023 (euro 1.106 = US$ 1.00). The dollar amounts presented in these financial statements should not
be construed as representing amounts that are receivable or payable in dollars or convertible into dollars, unless otherwise indicated.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: 7.65pt"><b><i>&#160;</i></b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>C.</b></td><td style="text-align: justify"><b>Financial instruments</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(1)</b></td><td style="text-align: justify"><b>Trade accounts receivables, services concession receivables
and other receivables</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company initially recognizes receivables
on the date that they are created. Receivables without a significant financing component are initially measured at the transaction price
and subsequently measured at amortized cost, using the effective interest method. The amortized cost is reduced by impairment losses.
Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(2)</b></td><td style="text-align: justify"><b>Non-derivative financial liabilities</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company&#8217;s financial liabilities
include loans and borrowings, trade payables, other payables, finance lease obligations, debentures, long-term loans and other long-term
liabilities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company initially recognizes debt
securities issued on the date that they originated. All other financial liabilities are recognized initially on the trade date at which
the Company becomes a party to the contractual provisions of the instrument.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Financial liabilities are recognized
initially at fair value less any directly attributable transaction costs. Subsequent to initial recognition, these financial liabilities
are measured at amortized cost using the effective interest method.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Financial liabilities are derecognized
when the obligation of the Company, as specified in the agreement, expires or when it is discharged or cancelled.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(3)</b></td><td style="text-align: justify"><b>Derivative financial instruments, including hedge accounting</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company holds both derivative financial
instruments to hedge its interest rate risk exposures and fluctuating electricity prices risk exposures and derivatives that do not serve
hedging purposes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><b><i>Hedge
accounting </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company designates certain derivatives
as hedging instruments in order to hedge changes in cash flows that relate to highly probable forecasted transactions and which derive
from changes in fluctuation in the electricity prices and changes in interest on variable-rate loans. The Company continues to apply
IAS 39 for the hedge accounting.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company makes an assessment, both
at the inception of the hedge relationship as well as on an ongoing basis, as to whether the hedging instruments are expected to be &#8220;highly
effective&#8221; in offsetting the changes in the fair value or cash flows of the respective hedged items during the period for which
the hedge is designated, and whether the actual results of each hedge are within a range of 80-125 percent.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><b><i>Measurement
of derivative financial instruments</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Derivatives are recognized initially
at fair value and attributable transaction costs are recognized in profit or loss as incurred. Subsequent to initial recognition, derivatives
are measured at fair value, and changes therein are accounted for as described below.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify; text-indent: 56.7pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><b><i>Cash flow
hedges</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">When a derivative instrument is designated
as a cash flow hedge, the effective portion of the changes in fair value of the derivative is recognized in other comprehensive income,
directly within a hedging reserve. The effective portion of changes in fair value of a derivative, recognized in other comprehensive
income, is limited to the cumulative change in fair value of the hedged item (based on present value), from inception of the hedge. The
change in fair value in respect of the ineffective portion is recognized immediately in profit or loss.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">If the hedge no longer qualifies as an
accounting hedge, or the hedging instrument is sold, expires, is terminated or exercised, hedge accounting is discontinued on a prospective
basis. When hedge accounting is discontinued, the amounts accumulated in the past in the hedging reserve and cost of hedging reserve
remain in the reserve, until such time as they are included in the initial cost of the non-financial item (for hedged transactions whose
result is a non-financial item), or until such time as they are reclassified to profit or loss in the period, or periods, in which the
hedged forecasted future cash flows affect profit or loss (for other cash flows hedges).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><b><i>Economic
hedges</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Hedge accounting is not applied to derivative
instruments that economically hedge financial assets and liabilities denominated in foreign currencies. Changes in the fair value of
such derivatives are recognized in profit or loss under financing income or expenses.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(4)</b></td><td style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><b>Interest Rate Benchmark Reform</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">When the basis for determining the contractual
cash flows of a financial asset or financial liability measured at amortized cost changes as a result of interest rate benchmark reform,
the Company updates the effective interest rate of the financial asset or financial liability to reflect the change required by the reform.
When changes are made to a financial asset or financial liability in addition to changes to the basis for determining the contractual
cash flows required by interest rate benchmark reform, in addition to adjusting the effective interest rate as a result of the reform
the Company applies on accounting for substantial modifications in terms of debt instruments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(5)</b></td><td style="text-align: justify"><b>CPI-linked assets and liabilities that are not measured
at fair value</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The value of CPI-linked financial assets
and liabilities, which are not measured at fair value, is re-measured every period in accordance with the actual increase/decrease in
the CPI.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>D.</b></td><td style="text-align: justify"><b>Fixed assets</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left">(1)</td><td style="text-align: justify"><i>Recognition and measurement</i></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Fixed assets items are measured at cost
less accumulated depreciation. Cost includes expenditures that are directly attributable to the acquisition of the fixed asset. The cost
of self-constructed assets includes the cost of materials and direct labor, any other costs directly attributable to bringing the assets
to a working condition for their intended use, an estimate of the costs of dismantling and removing the items and restoring the site
on which they are located, and capitalized borrowing costs (mainly specific). Project licenses are included in the cost of photovoltaic
plants.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The costs of replacing part of a fixed
asset item and other subsequent expenses are capitalized if it is probable that the future economic benefits associated with them will
flow to the Company and their cost can be measured reliably. The carrying amount of the replaced part of a fixed asset item is derecognized.
The costs of day-to-day servicing are recognized in profit or loss as incurred.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Gains and losses on disposal of a fixed
asset item are determined by comparing the net proceeds from disposal with the carrying amount of the asset, and are recognized in profit
or loss.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left">(2)</td><td style="text-align: justify"><i>Depreciation</i></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Depreciation is a systematic allocation
of the depreciable amount of an asset over its useful life. The depreciable amount is the cost of the asset, or other amount substituted
for cost, less its residual value. An asset is depreciated from the date it is ready for use, meaning the date it reaches the location
and condition required for it to operate in the manner intended by management. Depreciation is recognized in profit or loss on a straight-line
basis over the estimated useful lives of each part of the fixed asset item.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The estimated useful lives are as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">% per annum</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Mainly % <br/>
per annum</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 50%; text-align: left">Office furniture and equipment</td><td style="width: 1%">&#160;</td>
    <td style="width: 24%; text-align: center">6-33</td><td style="width: 1%">&#160;</td>
    <td style="width: 24%; text-align: center">33</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Photovoltaic plants in Spain</td><td>&#160;</td>
    <td style="text-align: center">5</td><td>&#160;</td>
    <td style="text-align: center">5</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Biogas plants in the Netherlands</td><td>&#160;</td>
    <td style="text-align: center">8</td><td>&#160;</td>
    <td style="text-align: center">8</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="vertical-align: top; text-align: left">Leasehold improvements</td><td>&#160;</td>
    <td style="text-align: center">Over the shorter of the lease period or the life of the asset</td><td>&#160;</td>
    <td style="text-align: center">7</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The estimated useful life of the project
licenses of photovoltaic plants that are carried at cost is 20-25 years for the Company&#8217;s Spanish subsidiaries. The estimated useful
life of the project licenses of the Company&#8217;s Netherlands anaerobic digestion plants that are carried at cost is 13 years. The
fixed assets residual values, useful lives and methods of depreciation are reviewed at each financial year-end and adjusted if appropriate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>E.</b></td><td style="text-align: justify"><b>Impairment for non-financial assets</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The carrying amounts of the Company&#8217;s
non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication
exists, then the asset&#8217;s recoverable amount is estimated.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">For the purpose of impairment testing,
assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing
use that are largely independent of the cash inflows of other assets or groups of assets (the &#8220;cash-generating unit&#8221;). The
Company views each PV plant as a separate cash-generating unit.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The recoverable amount of an asset or
cash-generating unit is the greater of its fair value less costs of disposal and its value in use.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>F.</b></td><td style="text-align: justify"><b>Leases</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 36pt"></td><td style="width: 34.9pt"><i>(1)</i></td><td style="text-align: justify"><i>Leased assets and lease liabilities</i></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Contracts that award the Company control
over the use of a leased asset for a period of time in exchange for consideration are accounted for as leases. Upon initial recognition,
the Company recognizes a liability at the present value of the balance of future lease payments (these payments do not include certain
variable lease payments), and concurrently recognizes a right-of-use asset at the same amount of the lease liability, adjusted for any
prepaid or accrued lease payments, plus initial direct costs incurred in respect of the lease.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Since the interest rate implicit in the
Company&#8217;s leases is not readily determinable, the incremental borrowing rate of the lessee is used. Subsequent to initial recognition,
the right-of-use asset is accounted for using the cost model and depreciated over the shorter of the lease term or useful life of the
asset.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company has elected to apply the
practical expedient by which short-term leases of up to one year and/or leases in which the underlying asset has a low value, are accounted
for such that lease payments are recognized in profit or loss on a straight-line basis, over the lease term, without recognizing an asset
and/or liability in the statement of financial position.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 36pt"></td><td style="width: 34.9pt"><i>(2)</i></td><td style="text-align: justify"><i>Variable lease payments</i></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Variable lease payments that depend on
an index or a rate, are initially measured using the index or rate existing at the commencement of the lease and are included in the
measurement of the lease liability. When the cash flows of future lease payments change as the result of a change in an index or a rate,
the balance of the liability is adjusted against the right-of-use asset. Other variable lease payments that are not included in the measurement
of the lease liability are recognized in profit or loss in the period in which the event or condition that triggers payment occurs.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 36pt"></td><td style="width: 34.9pt"><i>(3)</i></td><td style="text-align: justify"><i>Depreciation of right-of-use
                                            asset</i></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">After lease commencement, a right-of-use
asset is measured on a cost basis less accumulated depreciation and accumulated impairment losses and is adjusted for re-measurements
of the lease liability. Depreciation is calculated on a straight-line basis over the useful life or contractual lease period, whichever
earlier. The main right of use assets are lands which are depreciated over 20-40 years.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>G.</b></td><td style="text-align: justify"><b>Revenue recognition</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Revenues are derived primarily from the
sale of electricity and natural gas to customers. Revenues are recognized when the customer obtains control over the promised products,
i.e. when the natural gas or electricity is delivered to the customer. The revenue is measured according to the amount of consideration
to which the Company expects to be entitled in exchange for the products promised to the customer, other than amounts collected for third
parties.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Revenues from the sale of electricity
and natural gas are recognized when the units produced are transferred to the grid at connection points on the basis of a meter reading.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Revenues in respect of units produced
and transferred to the grid in the period between the most recent meter reading and the date of the statement of financial position,
are included based on an estimate.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In some of the Company&#8217;s PV plants
in Spain, the proceeds from the sale of electricity also depend on the subsidies granted by the local government in accordance with changes
in the market prices of electricity. The Company measures revenues while taking into account the increase or decrease of the subsidies
it will receive as a result of changes in market prices throughout the current year.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>H.</b></td><td style="text-align: justify"><b>Income tax</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Income tax consists of current tax and
deferred tax. Current tax and deferred tax are recognized in profit or loss except to the extent that the tax arises from items which
are recognized directly in equity. In such cases, the tax effect is also recognized in the relevant item in equity.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Deferred tax is recognized in respect
of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used
for taxation purposes, except for a limited number of exceptions, including differences relating to investments in subsidiaries, joint
arrangements and associates, to the extent that the Company is able to control the timing of the reversal of the temporary difference
and it is probable that they will not reverse in the foreseeable future, either by way of selling the investment or by way of distributing
dividends in respect of the investment.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">A deferred tax asset is recognized for
unused tax losses, tax benefits and deductible temporary differences, to the extent that it is probable that future taxable profits will
be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent
that it is no longer probable that the related tax benefit will be realized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Deferred tax assets that were not recognized
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which they can be utilized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>I.</b></td><td style="text-align: justify"><b>Financing income and expenses</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Financing income comprises interest income
on bank deposits and marketable securities, gains on changes in the fair value of financial assets at fair value through profit or loss,
gains on hedging instruments that are recognized in profit or loss and exchange rate differences. Interest income is recognized as it
accrues. Changes in the fair value of financial assets at fair value through profit or loss also include income from dividends and interest.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Financing expenses consist of bank charges,
interest expenses on borrowings and debentures, changes in the fair value of financial assets at fair value through profit or loss, losses
on hedging instruments that are recognized in profit or loss, and exchange rate differences.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Borrowing costs, which are not capitalized
to qualifying assets, are recognized in profit or loss using the effective interest method. Foreign currency gains and losses on financial
assets and financial liabilities are reported on a net basis as either financing income or financing expenses depending on whether foreign
currency movements are in a net gain or net loss position.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In the statements of cash flows, interest
received and interest paid are presented as part of cash flows from operating activities. Financing costs that were capitalized to qualifying
assets are presented as part of cash flows from investment activities<b>.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>J.</b></td><td style="text-align: justify"><b>Service concession arrangements</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">As part of service concession arrangements
with government bodies for the construction and operation of a facility in consideration for fixed and variable payments, the Company
recognizes a financial asset commencing from the start of the construction of the facility when it has an unconditional right to receive
cash or some other financial asset for the construction services. The financial asset reflects the unconditional payments receivable in
the future from the government body and bears an appropriate rate of interest for risk that is determined based on the risk of the customer.
The aforementioned financial assets are stated at fair value upon initial recognition and at amortized cost in subsequent periods. As
from January 1, 2018, the Company&#8217;s right to receive consideration for the construction services, constitutes a contract asset until
the end of the construction period.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In projects accounted for using the financial
asset model, when at the end of the construction period there is an unconditional right (other than that of the passing of time) to receive
consideration for the construction services, the contract asset is classified to receivables (financial asset) according to the carrying
amount of the contract asset.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

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<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>K.</b></td><td style="text-align: justify"><b>Discontinued operations</b></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company classifies an operation as
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Company&#8217;s business that represents a separate major line of business. The comparative income statement is restated as if the operation
had been discontinued from the start of the earliest comparative period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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not yet adopted</b></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>Amendment to IAS 1, <i>Presentation
of Financial Statements: Classification of Liabilities as Current or Non-Current (&#8220;the IAS 1 Amendment&#8221;) and subsequent amendment:
Non-Current Liabilities with Covenants (&#8220;the IAS 1Subsequent Amendment&#8221;)</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The IAS 1 Amendment, together with the
IAS 1 Subsequent Amendment (see below), replaces certain requirements for classifying liabilities as current or non-current.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">According to the IAS 1 Amendment, a liability
will be classified as non-current when the entity has the right to defer settlement for at least 12 months after the reporting period,
and it &#8220;has substance&#8221; and is in existence at the end of the reporting period.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">According to the IAS 1 Subsequent Amendment,
as published in October 2022, covenants with which the entity must comply after the reporting date do not affect classification of the
liability as current or non-current. Additionally, the IAS 1 Subsequent Amendment adds disclosure requirements for liabilities subject
to covenants within 12 months after the reporting date, such as disclosure regarding the nature of the covenants, the date they need to
be complied with and facts and circumstances that indicate the entity may have difficulty complying with the covenants. Furthermore, the
IAS 1 Amendment clarifies that the conversion option of a liability will affect its classification as current or non-current, other than
when the conversion option is recognized as equity.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The IAS 1 Amendment and the IAS 1 Subsequent
Amendment are effective for reporting periods beginning on or after January 1, 2024 with earlier application being permitted. The IAS
1 Amendment and IAS 1 Subsequent Amendment are applicable retrospectively, including an amendment to comparative data.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In the opinion of the Company, with regard
to current loans and covenants of the Company, application of the IAS 1 Amendment and the IAS 1 Subsequent Amendment is not expected to
have a material effect on the Company.</p><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure of material accounting policy information applied by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583030790016">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash and Cash Equivalents<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 4 - Cash and Cash Equivalents</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company&#8217;s exposure to credit,
interest rate and currency risks, and a sensitivity analysis for financial assets, are included in Note 21 regarding financial instruments.</p><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of cash and cash equivalents. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583023135200">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Restricted Cash, Deposits and Marketable Securities<br></strong></div></th>
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<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory', window );">Restricted Cash, Deposits and Marketable Securities</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 5 - Restricted Cash, Deposits and Marketable
Securities</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
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    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">900</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted cash and bank deposits, long-term<sup>(1)</sup></span></td><td style="padding-bottom: 4pt; font-weight: bold">&#160;</td>
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in">(1)</td><td style="text-align: justify">Deposits used to secure obligations under agreements (see Notes 6 and 21E(3)) and loan
agreements (see Note 11).</td></tr></table><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022990640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investee Companies and other investments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesAndOtherInvestmentsAbstract', window );"><strong>Investee Companies and other investments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfInterestsInOtherEntitiesExplanatory', window );">Investee Companies and other investments</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 6 - Investee Companies and other investments</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Equity accounted investees</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white"><b>Ellomay Luzon Energy Infrastructures
Ltd. (&#8220;Ellomay Luzon Energy&#8221;)&#8211; </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Since November 2010, the Company indirectly
(through Ellomay Clean Energy LP (&#8220;Ellomay Energy LP&#8221;)) holds 50% of Ellomay Luzon Energy (formerly U. Dori Energy Infrastructures
Ltd.). Ellomay Luzon Energy holds 18.75% of the share capital of Dorad Energy Ltd. (&#8220;Dorad&#8221;), which owns an approximate 850
MWp dual-fuel operated power plant in the vicinity of Ashkelon, Israel (the &#8220;Dorad Power Plant&#8221;). The investment in Ellomay
Luzon Energy is accounted for under the equity method.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On May 12, 2014, Dorad was issued a production
license for 20 years and on May 19, 2014, Dorad began commercial operation of the power plant. In July 2015, Dorad was issued a long-term
supply license that will expire on May 11, 2034.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">Effective December 31, 2022, Ellomay
Energy LP and Ellomay Luzon Energy entered into a loan agreement and capital notes agreements, which provide for the conversion of approximately
NIS 23,467 thousand of the then outstanding shareholders&#8217; loans provided by them to Ellomay Luzon Energy to capital notes, payable
not less than 60 months after the date of their execution, at the sole discretion of Ellomay Luzon Energy, with the remaining balance
of shareholders&#8217; loans (NIS 10 million), linked to the Israeli CPI and bearing an annual interest equal to the interest payable
on Dorad&#8217;s senior debt plus 3%, with a repayment date of December 31, 2023. The Luzon Group entered into a similar loan agreement
and capital notes with respect to its portion of the shareholders&#8217; loans. During the year ended December 31, 2023, Ellomay Luzon
Energy repaid all outstanding shareholders&#8217; loans. Such shareholders&#8217; loans were repaid from proceeds from dividends distributed
by Dorad.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">As of December 31, 2023, Dorad provided,
through its shareholders at their proportionate holdings and as required by the financing agreements executed by Dorad, guarantees in
favor of the Israeli Electricity Authority, NOGA &#8211; electricity system management and Israel Natural Gas Lines Ltd. in the aggregate
amount of approximately NIS 162,000 thousand (approximately &#8364;40,400 thousand). The Company&#8217;s indirect share of guarantees provided
on behalf of Dorad by Dorad&#8217;s shareholders is approximately NIS 15,000 thousand (approximately &#8364;3,700 thousand).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">Dorad&#8217;s revenues and operating
expenses are affected by the average production component as determined by the Israeli Electricity Authority. The average production component
was reduced by approximately 5.7% commencing January 1, 2021, increased by approximately 13.6% commencing February 1, 2022, increased
by approximately 9.4% compared to the 2021 tariff, commencing May 1, 2022, increased by approximately 24.3% compared to the 2021 tariff,
decreased by approximately 0.7% commencing January 1, 2023, decreased by approximately 1.2% from February 1, 2023, decreased by approximately
1.4% commencing April 1, 2023, and decreased by approximately 1% commencing February 2024.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Dorad&#8217;s financing expenses are affected
by the indexation to the Israeli CPI of its Project Finance. The Israeli CPI increased by approximately 3.3% in 2023 and by approximately
5.3% during 2022.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">On November 22, 2020, the IEC filed a
third-party notice against Dorad in connection with a class action submitted against the IEC claiming that the IEC was negligent in overseeing
the private electricity manufacturers thereby damaging the electricity consumers. The claim against the IEC alleges that the private electricity
manufacturers provided false reports in the consumption plans they submitted to the system manager in the IEC, based on the standards
set by the Israeli Electricity Authority. On April 10, 2023, the court decided to reject the request to send a third-party notice to Dorad.
On June 11, 2023, IEC filed an appeal to the Israeli Supreme Court. On June 29, 2023, the Supreme Court decided that the respondents must
submit a written answer to the appeal by March 14, 2024, and the hearing of the appeal was set for May 6, 2024. At this point, based on
the advice of legal counsel, Dorad cannot estimate the outcome of this legal proceeding.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Dorad and its shareholders are involved
in several legal proceedings as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><i>Petition to Approve a Derivative
Claim filed by Ellomay Luzon Energy</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On July 16, 2015, Ellomay Luzon Energy
and Ellomay Luzon Energy&#8217;s representative on Dorad&#8217;s board of directors at the time, Mr. Hemi Raphael, filed a petition (the
&#8220;Petition&#8221;), for approval of a derivative action on behalf of Dorad with the Economic Department of the Tel Aviv-Jaffa</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">District Court. The Petition was filed
originally against Zorlu Enerji Elektrik Uretim A.S (&#8220;Zorlu&#8221;), which holds 25% of Dorad, Zorlu&#8217;s current and past representatives
on Dorad&#8217;s board of directors and Wood Group Gas Turbines Services Ltd. (&#8220;Wood Group&#8221;) and several of its affiliates,
and thereafter amended to add Mr. Ori Edelsburg (a director in Dorad) and affiliated companies. The Petition requested, inter alia, that
the court instruct the defendants to disclose and provide to Dorad documents and information relating to the contractual relationship
between Zorlu and Wood Group, which included the transfer of funds from Wood Group to Zorlu in connection with the EPC agreement of the
Dorad Power Plant.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On December 27, 2016, this proceeding,
as well as the petition to approve a derivative claim filed by Edelcom mentioned below, were moved to an arbitration proceeding. On February
23, 2017, a statement of claim was filed by Ellomay Luzon Energy and Mr. Hemi Raphael on behalf of Dorad against Zorlu, Mr. Edelsburg,
Edelcom Ltd. (&#8220;Edelcom&#8221;) and Edeltech Holdings 2006 Ltd. (&#8220;Edeltech&#8221;) in which they repeated their claims included
in the Petition and in which they required the arbitrator to obligate the defendants, jointly and severally, to pay an amount of $183,367,953
plus interest and linkage to Dorad.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">In April 2017, the defendants filed their
statements of defense. Within the said statements of defense, Zorlu attached a third party notice against Dorad, Ellomay Luzon Energy
and the Luzon Group, in the framework of which it repeated the claims on which its defense statement was based and claimed, among other
claims, that if the plaintiffs&#8217; claim against Zorlu was accepted and would negate Zorlu&#8217;s right receive compensation and profit
from its agreement with Dorad and therefore Zorlu should be compensated in the amount of approximately NIS 906.4 million (approximately
&#8364;218 million based on the then existing exchange rate). Similarly, also within their statement of defense, Edelcom, Mr. Edelsburg
and Edeltech (together, the &#8220;Edelsburg Group&#8221;) filed a third-party notice against Ellomay Luzon Energy claiming for breaches
by Ellomay Luzon Energy of the duty to act in good faith in contract negotiations and that any amount ruled will constitute unlawful enrichment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On October 1, 2017, Eilat Ashkelon Infrastructure
Services Ltd. (&#8220;EAIS&#8221;), which holds 37.5% of Dorad&#8217;s shares, filed a statement of claim in the arbitration proceedings.
In its statement of claim, EAIS joins Ellomay Luzon Energy&#8217;s and Mr. Raphael&#8217;s request as set forth in the statement of claim
filed by them in the arbitration proceeding and raises claims that are similar to the claims raised by Ellomay Luzon Energy and Mr. Raphael.
In January 2018, the arbitrator provided its ruling that the legal validity of the actions or inactions of board members of Dorad will
be attributed to the entities that are shareholders of Dorad on whose behalf the relevant board member acted and the legal determinations,
if any, will be directed only towards the shareholders of Dorad.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">During January 2018, Mr. Edelsburg, Edelcom
and Zorlu filed their statement of defense in connection with the claim filed by EAIS and also filed third party notices against EAIS,
Ellomay Luzon Energy and the Luzon Group claiming that EAIS and the Luzon Group enriched themselves at Dorad&#8217;s account without providing
disclosure to the other shareholders and requesting that, should the position of Ellomay Luzon Energy and EAIS be accepted in the main
proceeding, the arbitrator, among other things, obligate EAIS to refund to Doard all of the rent paid to date and determine that Dorad
is not required to pay any rent in the future or determine that the rent fees be reduced to their market value and refund Dorad the excess
amounts paid by it to EAIS, determine that the board members that represent EAIS and Ellomay Luzon Energy breached their fiduciary duties
towards Dorad and obligate EAIS and Ellomay Luzon Energy to pay the amount of $140 million (approximately &#8364;127 million), plus interest
in the amount of $43 million (approximately &#8364;39 million), which is the amount Zorlu received for the sale of its rights under the
Dorad EPC agreement, and rule that in connection with the engineering and construction works performed by the Luzon Group, the Luzon Group
and Ellomay Luzon Energy are required to refund to Dorad or compensate the defendants in an amount of $24 million (approximately &#8364;22
million), plus interest and linkage and, alternatively, determine that Mr. Edelsburg, Edelcom and Zorlu are entitled to indemnification
from the third parties for the entire amount they will be required to pay.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On February 15, 2021, the arbitrator approved
replacing the late Mr. Hemi Raphael as the claimant with Mr. Ran Fridrich. On June 28, 2023, the arbitration award was provided. For more
information see below under &#8220;Arbitration Award.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><i>Petition to Approve
a Derivative Claim filed by Edelcom</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">On July 25, 2016, Edelcom, which holds
18.75% of Dorad, filed a petition for approval of a derivative action on behalf of Dorad (the &#8220;Edelcom Petition&#8221;) against
Ellomay Energy LP, Luzon Group, Ellomay Luzon Energy and Dorad following a letter delivered to Dorad on February 25, 2016. The Edelcom
Petition refers to an entrepreneurship agreement that was signed on November 25, 2010, between Dorad and the Luzon Group, pursuant to
which the Luzon Group received payment in the amount of approximately NIS 49.4 million (approximately &#8364;11.9 million) in consideration
for management and entrepreneurship services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Pursuant to this agreement, the
Luzon Group undertook to continue holding, directly or indirectly, at least 10% of Dorad&#8217;s share capital for a period of 12
months from the date the Dorad Power Plant is handed over to Dorad by the construction contractor. The Edelcom Petition claims that
as a consequence of the management rights and the options to acquire additional shares of Ellomay Luzon Energy&#160;granted to the
Company&#160;pursuant to the Investment&#160;Agreement, the holdings of the Luzon Group in Dorad have fallen below 10% upon
execution of the Luzon Investment Agreement. The Edelcom Petition therefore claims that Luzon Group breached its commitment
according to entrepreneurship agreement and requests that a derivative action be approved to recover an amount of NIS 49.4 million,
plus linkage and interest from the defendants.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As noted above, on December 27, 2016,
this proceeding, along with the proceeding mentioned above and below, was moved to arbitration.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>Arbitration Award</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On June 28, 2023, an arbitration award
was issued in connection with the arbitration proceeding as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.25in"><span>&#9679;</span></td><td style="text-align: justify"><i>Petition to Approve a Derivative Claim filed by Ellomay Luzon Energy and Hemi Raphael</i> - The arbitration
award accepts the majority of the claims made by the Plaintiffs and the arbitrator ruled that the defendants, severally and jointly, are
required to: (i) pay Dorad an amount of $100 million, bearing interest pursuant to applicable law from January 1, 2013 until the payment
date, (ii) bear the expenses of the plaintiffs, including Ellomay Luzon Energy, in an aggregate amount of NIS 20 million, plus VAT, and
(iii) bear 80% of the expenses of Dorad in the proceeding (while the Plaintiffs will bear the remaining 20%).</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.25in"><span>&#9679;</span></td><td style="text-align: justify"><i>Third-Party Notices and Counterclaims submitted by Zorlu and Edelcom</i> - The arbitration award provides
that due to the ruling accepting the derivative petition as detailed above, the third-party notices and counterclaim are rejected.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.25in"><span>&#9679;</span></td><td style="text-align: justify"><i>Petition to Approve a Derivative Claim filed by Edelcom</i> - The arbitration award provides, inter
alia, that the entrepreneurship agreement was not breached and therefore there is no basis for approving a derivative claim.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In November 2023, appeals were submitted
by the plaintiffs and the defendants against the arbitration award. In their appeal, the defendants claimed, inter alia, that the arbitrator
was mistaken in his arbitration award decisions and requested alternative rulings either accepting the appeal and cancelling the entire
financial payment decision included in the arbitration award or a partial cancellation of the financial payment decision included in the
arbitration award and a relative decrease of the interest and expenses obligation imposed on the defendants. In their appeal, the plaintiffs
appealed the financial payment decision and claimed that the amount ruled should have been higher and also appealed the interest rate
determined with respect to the financial payment and the scope of expenses reimbursement. The parties filed responses to the appeals in
February 2024 and the last date for submission of answers to the responses was scheduled for May 2024. A preliminary hearing is scheduled
for May 30, 2024.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As of the date hereof, based on the advice
of legal counsel of Ellomay Luzon Energy, it is too early to estimate the outcome of the appeals. As Edelcom did not appeal the arbitrator&#8217;s
decision with respect to the petition to approve a derivative claim filed by Edelcom in connection with the entrepreneurship fees, the
arbitration award remains unchanged with respect to this petition and claim.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in"><i>Potential Expansion
of the Dorad Power Plant (&#8220;Dorad 2&#8221;)</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Dorad is examining the possibility of
constructing an additional power plant within the area of the existing Dorad Power Plant, that will become part of the existing plant.
On July 13, 2020, Dorad submitted to the National Infrastructure Committee, or NIC, plans for public objections, on January 11, 2021,
the NIC decided to postpone the final decision and on December 27, 2021, the NIC decided to raise the construction of another power plant
to a government decision. The NIC&#8217;s decision includes conditions to the issuance of the building permit. On May 28, 2023, the Israeli
Government approved the national infrastructures plan (NIP 11/b) which governs, among other issues, the expansion of the power plant owned
by Doard by approximately 650 MW.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On January 16, 2024, Dorad received a
letter from Edelcom stating that Edelcom, as a shareholder of Dorad, objects to the proposal to expand the power plant. On February 19,
2024, Dorad received a planning survey to receive the expansion of the power plant from the System Manager, which allows electricity to
be taken out commencing October 2028.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In March 2024, Dorad filed a petition
with the Israeli Supreme Court asking for the issuance of a building permit for the construction of the &#8220;Dorad 2&#8221; power plant.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The expansion of the Dorad Power Plant
by building the Dorad 2 facility in a combined cycle technology, will result in an aggregate capacity of the Dorad Power Plant of approximately
1,500 MW and the approved plan also enables adding batteries with a capacity of approximately 80 MW. The Company expects that if the Dorad
2 plan will materialize and the expansion will be completed, the expansion of the power plant will increase the revenues and income of
Dorad. The expansion has not yet been approved and is subject to various conditions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in"><i>Impact of War in
Israel</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On October 7, 2023, following a surprise
attack by the terrorist organization Hamas against the State of Israel and its citizens, the Israeli government declared a war (the &#8220;Iron
Swords War&#8221;), which continues as of the date of this report, and which has also expanded into a security conflict in the northern
region. During the days of fighting, thousands of rockets were launched towards the State of Israel, and shrapnel fell several times in
the territory of the power plant, which caused immaterial damage to property and equipment but did not impact the regular operation of
the power plant. Dorad estimates at this stage, that the current events and the security escalation in Israel have an impact on its results
but that the impact on its short-term business results will be immaterial. Since this is an event that is not under the control of Dorad
and matters such as the fighting continuing or stopping may affect the Dorad&#8217;s assessments, as at the reporting date Dorad is unable
to assess the extent of the effect of the Iron Swords War on its business activities and on its medium and long-term results.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">

</p><p style="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><b>Composition
of the investment</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -0.5in"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -0.5in"></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><b>&#160;</b></td><td style="padding-bottom: 1.5pt; font-weight: bold"><b>&#160;</b></td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -0.5in">&#160;</p>

<p style="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left"><b>Changes in investments</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,665</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -28.35pt; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -43.65pt; background-color: white">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">(b)</td><td style="text-align: justify">Summary information on operating results</td></tr>
                                                                                                                                                     </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -43.65pt; background-color: white">&#160;</p>

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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43.65pt; text-align: justify; text-indent: -43.65pt">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>B.</b></td><td style="text-align: justify"><b>Pumped Storage Projects </b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><b>Pumped-storage
project in the Manara Cliff in Israel (&#8220;Manara PSP&#8221;) -</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Ellomay Pumped Storage (2014) Ltd. (&#8220;Ellomay
PS&#8221;), in which the Company directly and indirectly owns 83.333% (with the remaining 16.667% held by Ampa Ltd. (&#8220;Ampa&#8221;)),
received a conditional license for the Manara PSP from the Israeli Minister of Energy and Infrastructures (the &#8220;Minister&#8221;)
for the construction of a pumped storage plant in the Manara Cliff with a capacity of 156 MW (the &#8220;Conditional License&#8221;).
The Conditional License permits Ellomay PS to construct the Manara PSP and includes several conditions precedent to the entitlement of
Ellomay PS to receive an electricity production license.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company and its affiliates did not
pay any consideration upon the acquisition of the rights in the Manara PSP and undertook to pay certain consideration upon the fulfillment
of certain conditions and milestones. As of December 31, 2023, the Company paid an amount of approximately NIS 24,000 thousand (approximately
&#8364;6,000 thousand) on account of the consideration upon the acquisition and may be required, if certain conditions and milestones are
met (which conditions and milestones have not currently been met), to pay certain parties additional amounts (including interest), which
in the aggregate are not expected to exceed an amount of approximately NIS 6,400 thousand (approximately &#8364;1,600 thousand).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In February 2023, the trustees of the
entity that sold the rights in the Manara PSP to the Company filed a petition with the Israeli court requesting the following: (1) payment
of NIS 1,500 thousand (approximately &#8364;374 thousand) in connection with a claimed debt of a third party, and (2) payment of linkage
and interest differences in an amount of approximately NIS 672 thousand (approximately &#8364;168 thousand) with respect to an amount that
was already paid to the seller and to Electra, claiming that the payment was delayed due to disagreements between the seller and Electra
and missing approvals. Based on the parties&#8217; agreement, a mediation process is ongoing. In light of the preliminary stage of the
proceedings and based on the advice of the Company&#8217;s legal counsel, it is too early to estimate the outcome of the mediation process
and the legal proceedings.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Conditional License was originally
valid for a period of seventy-two (72) months commencing from the date of its approval by the Minister, subject to compliance by Ellomay
PS with the milestones set forth therein and subject to the other provisions set forth therein (including financial closing, provision
of guarantees and construction of the pumped storage hydro power plant). According to applicable law, the 72 months validity period may
be extended for additional periods of 12 months each if required and subject to the Minister&#8217;s approval at such time. Such extensions
may result in forfeiture of the license guarantee which value currently amounts to approximately NIS 4,100 thousand (approximately &#8364;1,000
thousand). The guarantee amount is linked to the USD and is reduced over time upon fulfillment of certain interim project milestones.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On December 31, 2020, Ellomay PS received
the conditional tariff approval for the project from the Israeli Electricity Authority that regulates the tariffs and formulas for purchasing
energy from a pumped storage manufacturer connected to the transmission network for a period of 20 years beginning on the date of receipt
of the permanent production license. The conditional tariff became effective following financial closing in February 2021.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><i>Manara PSP Project Finance</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">On February 11,
2021, the Manara PSP Project Finance reached financial closing. The Manara PSP Project Finance is provided by a consortium of Israeli
banks and institutional investors, arranged and led by Mizrahi-Tefahot Bank Ltd. As of the date of the financial closing, the Manara PSP
Project Finance was in the aggregate amount of approximately NIS 1.27 billion (approximately &#8364;0.317 billion). This aggregate amount
is linked to a synthetic composite index comprising a weighted average of the indices and currencies applicable to the Manara PSP&#8217;s
construction costs (the &#8220;Project Index&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">As of December
31, 2023, the Manara PSP Project Finance (including reevaluation linkage to the Project Index) amounts to approximately NIS 1.4 billion
(approximately &#8364;0.349 billion).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">The owners of
Ellomay PS undertook to provide, and provided, aggregate equity and shareholder&#8217;s loans financing to the project of NIS 353 million
(approximately &#8364;94.1 million), pro rata to their holdings in the Manara PSP, linked to the Project Index. Due to this indexation,
additional shareholders&#8217; loans were provided by the shareholders pro rata to their respective holdings in Manara PSP. In March 2022
and March 2023, such additional amounts were approximately NIS 11.5 million (approximately &#8364;3.2 million) and approximately NIS 17.5
million (approximately &#8364;4.7 million), respectively. An additional amount of approximately NIS 10 million (approximately &#8364;2.5
million) was provided following the balance sheet date, on March 2024.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">As of December
31, 2023, the financing provided by the owners of Manara PSP (not including the aforementioned indexation payment in March 2024) amounted
to approximately NIS 382,000 thousand (approximately &#8364;95,000 thousand).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Ellomay and Ampa
Investments Ltd. (&#8220;Ampa&#8221;), which indirectly owns 16.667% of Ellomay PS, provided certain sponsor support undertakings towards
the lenders commensurate with the size and complexity of the project and the length of the construction period, including a standby equity
guarantee in the aggregate amount of approximately NIS 12,500 thousand (approximately &#8364;3,331 thousand), pro rata to their holdings
in the Manara PSP.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">This standby
equity guarantee is linked to the Israeli CPI and adjusted to the Project Index. As of December 31, 2023, the standby equity guarantee,
including linkage, amounts to NIS 13,475 thousand (approximately &#8364;3,400 thousand). Ellomay and Ampa also provided corporate guarantees
in an amount similar to the amount of the standby equity guarantee.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">In August 2021,
the Israeli Electricity Authority issued a clarification letter relating to the method of calculation of certain dynamic benefits applicable
to all pumped storage projects in Israel. The owners of the Manara PSP currently estimate that if the updates to the method of calculation
will be implemented, the new calculation may reduce the cover ratios of the Manara PSP during the commercial operation period by up to
5 basis points. In order to mitigate such potential future effect, the owners
of the Manara PSP agreed to provide the lenders with certain undertakings to inject additional equity to the Manara PSP in certain scenarios,
subject to a cap which is currently estimated by the owners of the Manara PSP to be approximately NIS 46,000 thousand (approximately &#8364;11,500
thousand).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><b>&#160;&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><i>Manara PSP EPC
Agreement</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">In February 2021,
Ellomay PS executed the EPC agreement for the construction of the Manara PSP (the &#8220;Manara PSP EPC Agreement&#8221;), under a &#8220;turnkey&#8221;
contract with Electra Infrastructure Ltd. (&#8220;Electra Infrastructure&#8221;), one of Israel&#8217;s largest construction companies.
The aggregate consideration payable to Electra Infrastructure under the Manara PSP EPC Agreement is expected to be approximately NIS 1.13
billion excluding indexation (approximately &#8364;280 million). The majority of this amount is linked to the actual change in the Israel
Residential Construction Index (&#8220;IRC&#8221;). A small portion of the price is denominated in Euros. Under the Manara PSP EPC Agreement,
Voith Hydro, the world&#8217;s leading manufacturer of hydroelectric turbines, was nominated as the main subcontractor that will provide
the electro-mechanical equipment to the Manara PSP.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><i>Manara PSP O&amp;M Agreement</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Simultaneously
with the execution of the Manara PSP EPC Agreement, Ellomay PS also executed an O&amp;M agreement (the &#8220;Manara PSP O&amp;M Agreement&#8221;),
with Mekorot Israel National Water Co. (&#8220;Mekorot&#8221;), the Israeli national water company (which is fully owned by the Israeli
Government), Voith Hydro and Verbund Hydro, one of the largest hydroelectric companies in Europe with extensive expertise in the operation
of hydroelectric power plants (collectively, the &#8220;Manara PSP O&amp;M Contractors&#8221;). The Manara PSP O&amp;M Agreement provides
that the Manara PSP O&amp;M Contractors will be involved in the construction process through a mobilization period of 48 months and that
O&amp;M services will be provided for a twenty-year period, during which Mekorot, Voith Hydro and Verbund will provide O&amp;M services
for the initial three years of commercial operation, and Mekorot providing O&amp;M services exclusively for the remaining 17 year period.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Notice to commence
the construction works was issued to Electra Infrastructure in April 2021. The Construction period of the Manara PSP was originally expected
to be 62.5 months.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><i>Impact of War in Israel</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Due to the Iron
Swords War, which has also expanded into a security conflict in the northern region, operations construction works at the Manara site
were halted. The planning works, the construction of the equipment off site, including the electro-mechanical equipment and the arrival
of the equipment in Israel continue as usual. The Electricity Authority granted a ten-month extension to the regulatory milestones and
the duration of the general license. As part of the standards supporting financing, there is protection for the senior debt (principal
and interest) and the developer&#8217;s expenses, subject to the approval of the Electricity Authority on the subject. At this stage the company
cannot quantify the impact on the timing of the construction of the project. The Company cannot predict at this stage the duration and
scope of the Iron Swords War or its effect on the Company.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">

</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>C.</b></td><td style="text-align: justify"><b>Development of PV Projects in Italy </b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><b>Framework
Agreement</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">In December 2019,
Ellomay Luxembourg executed a Framework Agreement (the &#8220;Framework Agreement&#8221;), with an established and experienced European
developer. Pursuant to the Framework Agreement, the developer will provide Ellomay Luxembourg with development services with respect to
photovoltaic greenfield projects in Italy in the scope of 350 MW with the aim of reaching an aggregate Ready to Build (&#8220;RtB&#8221;)
authorized capacity of at least 265 MW over a forty-one month period. The Framework Agreement provides that the developer will offer all
projects identified during the term of the Framework Agreement exclusively to Ellomay Luxembourg and that, with respect to each project
acquired by Ellomay Luxembourg, the developer will be entitled to provide development services until it reaches the RtB status.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">The parties agreed
on a development budget including a monthly development service consideration, to be paid to the developer and all other payments for
the tasks required to bring the projects to a RtB. In addition, Ellomay Luxembourg undertook to pay a success fee to the developer with
respect to each project that achieves a RtB status.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Currently development
is progressing as planned. In April 2021, the Framework Agreement was amended and the target of reaching an aggregate RtB authorized capacity
of at least 265 MW was increased to 365 MW.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">In May 2023,
a notice to proceed was issued to the EPC contractor with respect to the first two projects, <span style="background-color: white">Ellomay
Solar Italy One SRL (14.8 MW) and Ellomay Solar Italy Two SRL (4.95 MW), located in the </span>Lazio Region<span style="background-color: white">,
Italy. The PV Plant owned by Ellomay Solar Italy Two SRL was connected to the grid in February 2024 and the PV Plant owned by Ellomay
Solar Italy One is expected to be connected to the grid during the second quarter of 2024. Several other projects, held by the Company&#8217;s
wholly-owned subsidiaries, Ellomay Solar Italy Four SRL (15.06 MW), Ellomay Solar Italy Five SRL (87.2 MW), Ellomay Solar Italy Seven
SRL (54.77 MW), Ellomay Solar Italy Nine SRL (8 MW ) and Ellomay Solar Italy Ten SRL (18 MW), which are developing PV plants in the Lazio
Region, Italy, have reached RtB status.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">The Company capitalizes
expenses in connection with such projects once RtB status is reached.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">In November 2019,
Ellomay Luxembourg executed a Framework Agreement with a developer with the aim of reaching an aggregate authorized capacity of at least
250 MW over a three-year period. In connection with the execution of this agreement, during 2020 Ellomay Luxembourg paid the developer
advance payments in the aggregate amount of approximately &#8364;1,554 thousand. As the target aggregate capacity was not achieved, in
August 2023 the advance payment including interest in the aggregate amount of &#8364;1,921 thousand was refunded.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>Composition of
Advances on account of investments</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">&#8364; in thousands</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; width: 76%; text-align: left; padding-bottom: 4pt">On account of development of PV projects in Italy</td><td style="width: 1%; font-weight: bold; padding-bottom: 4pt">&#160;</td>
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    <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">2,328</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">&#160;</td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>D.</b></td><td style="text-align: justify"><b>Subsidiaries -</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">1.</td><td style="text-align: justify"><b>Biogas Plants in the Netherlands</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white">The Company owns three Waste-to-Energy
(specifically Gasification and Bio-Gas (anaerobic digestion)) projects in the Netherlands.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><span style="text-decoration:underline">Groen Goor
Anaerobic Digestion Project- </span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Groen Gas Goor
B.V. (&#8220;Groen Goor&#8221;), a project company operating an anaerobic digestion plant, with a green gas production capacity of approximately
375 Nm3/h, in Goor, the Netherlands (the &#8220;Groen Goor Plant&#8221;). The Groen Goor Plant commenced operations in November 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><span style="text-decoration:underline">Groen Gas
Oude-Tonge Anaerobic Digestion Project-</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Groen Gas Oude-Tonge
B.V. (&#8220;Groen Gas Oude-Tonge&#8221;) a project company operating an anaerobic digestion plant, with a green gas production capacity
of approximately 475 Nm3/h, in Oude-Tonge, the Netherlands (the &#8220;Oude-Tonge Plant&#8221;). The Oude-Tonge Plant commenced operations
in June 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><span style="text-decoration:underline">Groen Gas
Gelderland Anaerobic Digestion Project -</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">On December 1,
2020, the Company, through its wholly-owned subsidiary, Ellomay Luxembourg, acquired all issued and outstanding shares of Groen Gas Gelderland
B.V. (&#8220;. (&#8220;GG Gelderland&#8221;) a project company operating an anaerobic digestion plant, with a green gas production capacity
of approximately 7.5 million Nm3 per year, in Gelderland, the Netherlands The actual production capacity of the plant is approximately
9.5 million Nm3 per year.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"><span style="text-decoration:underline">Assessment
of recoverable amount</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">During 2023, the Company assessed the
recoverable amount of its Biogas plants in the Netherlands in light of operating losses suffered by these projects in recent years and
lower results than forecasted for 2023. The examination was conducted based on the net consideration (net of expected estimated indemnification)
included in a binding offer received for the sale of the Biogas plants. The examination concluded that the fair value (net of transaction
costs) of each of the plants is higher than the carrying value of such plant and therefore there is no need for an impairment provision.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;&#160;</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>2.</b></td><td style="text-align: justify"><b>PV Projects in Spain</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>The Talasol PV Plant </b>&#8211;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company indirectly owns 51% of the
share capital of Talasol Solar S.L.U (&#8220;Talasol&#8221;), which owns a photovoltaic plant with a peak capacity of 300 MW in the municipality
of Talav&#225;n, C&#225;ceres, Spain. The purchase price originally paid by the Company during 2017 for 100% of Talasol&#8217;s shares
was &#8364;10 million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The construction cost of the Talasol PV
Plant based on the engineering, procurement &amp; construction agreement entered into by Talsol and METKA EGN Limited (&#8220;METKA&#160;EGN&#8221;)
was &#8364;192.5 million. The works under this agreement includes also a 400 kV step-up substation, the high voltage interconnection line
to the point of connection to the grid and performance of two years of O&amp;M services.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In June 2018, Talasol executed a financial
power swap in respect of approximately 80% of the output of the Talasol PV Plant for a period of 10 years (the &#8220;Talasol PPA&#8221;)
whose accounting treatment is according to cash flow hedge.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The power produced by the Talasol PV Plant
is sold by Talasol in the open market for the current market power price and the Talasol PPA is expected to hedge the risks associated
with fluctuating electricity market prices by allowing Talasol to secure a certain level of income for the power production included under
the Talasol PPA. The Talasol PPA became effective in March 2019.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On April 17, 2019, the Company, through
its wholly owned subsidiary Ellomay Luxembourg, executed a Credit Facilities Assignment and Sale and Purchase of Shares Agreement (the
&#8220;Talasol SPA&#8221;), with GSE 3 UK Limited and Fond-ICO Infraestructuras II, FICC (together, the &#8220;Talasol Partners&#8221;),
pursuant to which it agreed to sell to each of the Talasol Partners 24.5% of its holdings in Talasol. The transactions contemplated under
the Talasol SPA were consummated in April 2019. The aggregate purchase price paid by the Talasol Partners, in the amount of approximately
&#8364;16.1 million, represented 49% of the amounts withdrawn and interests accrued from and by Talasol PV Plant&#8217;s financing as of
the closing date of the Talasol SPA (approximately &#8364;4.9 million), plus a payment for 49% of Talasol&#8217;s shares (approximately
&#8364;4.9 million) plus a premium of approximately &#8364;6.1 million. Of such aggregate purchase price, the payment of &#8364;1.4 million
was deferred until the achievement of a preliminary acceptance certificate (PAC) under the EPC agreement of the Talasol PV Plant. Following
the achievement of PAC on January 27, 2021, the deferred payment amount of &#8364;1.4 million was received by Ellomay Luxembourg.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As the Company directs the operations
of Talasol and the rights granted to the Talasol Partners are minority protective rights, these changes in the Company&#8217;s ownership
interest in Talasol did not result in loss of control and were accounted for as equity transactions. The Company therefore recognized
in equity an amount of approximately &#8364;6.1 million, less associated expenses in the amount of approximately &#8364;0.7 million on the
date of the Talasol SPA.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Talasol PV Plant reached mechanical
completion in September 2020 and was connected to the electricity grid and electricity production commenced at the end of December 2020.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In December 2021, Talasol entered into
a New Facilities Agreement in the aggregate amount of &#8364;175 million with European institutional lenders (the &#8220;Talasol New Facilities
Agreement&#8221;). Financial closing of the Talasol New Facilities Agreement was achieved in January 2022 (see Note 11).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The uses of the Talasol New Financing
amount were as follows: (1) prepayment of the outstanding &#8364;121 million amount of the Talasol Previous Financing; (2) deposit of &#8364;6.9
million in Talasol&#8217;s bank account as a debt service fund; (3) deposit of &#8364;10 million in Talasol&#8217;s bank account as security
for a letter of credit to the Talasol PPA provider; (4) unwinding of the interest rate SWAP entered into in connection with the Previous
Financing in an amount of &#8364;3.29 million; (5) transaction costs in an amount of approximately &#8364;3 million; and (6) a special dividend
to Talasol&#8217;s shareholders in an amount of approximately &#8364;31 million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>The Ellomay Solar Project <i>-</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Ellomay Solar S.L.U. (&#8220;Ellomay Solar&#8221;),
wholly owned by Ellomay Luxembourg, owns a photovoltaic plant with an installed capacity of 28 MW in the municipality of Talav&#225;n,
C&#225;ceres, Spain (the &#8220;Ellomay Solar PV Plant&#8221;). On February 26, 2021, Ellomay Solar entered into an engineering, procurement
&amp; construction agreement in connection with the Ellomay Solar PV Plant (the &#8220;EPC Agreement&#8221;) with METKA EGN Spain S.L.U.,
a 100% indirect subsidiary of MYTILINEOS S.A., under the Renewables &amp; Storage Development Business Unit. The EPC Agreement provides
a fixed and lump-sum amount of &#8364;15.82 million, for the complete execution and performance of the works defined in the EPC Agreement.
The works include the engineering, procurement and construction of the Ellomay Solar PV Plant and the ancillary facilities for injecting
power into the grid and performance of two years of O&amp;M services.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In June 24, 2022, the Ellomay Solar PV
Plant was connected to the electricity grid and commenced production of electricity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0.25in"><b>Regulatory update</b> &#8211;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Spanish Royal Decree-Law 17/2021 of
September 14, 2021, (&#8220;RDL 17/2021&#8221;), which entered into force on September 16, 2021, established the reduction of returns
on the electricity generating activity of Spanish production facilities that do not emit greenhouse gases accomplished through payments
of a portion of the revenues by the production facilities to the Spanish government). RDL 17/2021 was extended several times and was in
effect until December 31, 2023. This reduction and payments were recorded as part of the operating expenses of the relevant facilities.
RDL 17/2021 did not apply to the portion of the revenues produced by Talasol that is subject to a fixed price under the Talasol PPA Producers
likely to be affected by the reduction were required to submit to REE a responsible statement and supporting documentation on the energy
covered by contracting instruments.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">3.</td><td style="text-align: justify"><b>Israeli Service Concession project</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company indirectly owns a photovoltaic
site with fixed technology and a nominal capacity of approximately 9 MWp in Talmei Yosef, Israel (the &#8220;Talmei Yosef Plant&#8221;),
which was connected to the grid in November 2013. The Talmei Yosef Plant is primarily financed by an Israeli consortium led by Israel
Discount Bank.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Talmei Yosef entered into a service concession
agreement with the IEC for the construction of a PV plant in Talmei Yosef. In Under the terms of the agreement with the IEC, Talmei Yosef
operates the PV plant for a period of 20 years as from November 15, 2013. The IEC provides the Company a guaranteed tariff for the electricity
produced of NIS 0.9631 per KWp linked to the Israeli CPI as of October 2011. The service concession agreement does not contain a renewal
option.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In accordance with IFRIC 12, the portion
of the consideration received from the IEC that reflects the Company&#8217;s right to charge for services it provides in connection with
the operation of the Talmei Yosef PV Plant, is classified as an intangible asset. The intangible asset was recorded at the acquisition
in the amount of &#8364;5,505 thousand that will be amortized until the end of the service concession agreement with the IEC with Talmei
Yosef.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>Impact of War in Israel</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Talmei Yosef Plant is located in southern
Israel, in proximity to the Gaza Strip and is therefore exposed to missile and mortar bomb attacks. The Talmei Yosef Plant was not impacted
by the Iron Swords War other than a temporary halt in operations which did not have a material impact on the Company&#8217;s results.
On December 31, 2023, the Company executed an agreement to sell its holdings in the Talmei Yosef PV Plant. For more information, including
the potential impact of the Iron Swords War on the consummation of the sale, see Note 23.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">4.</td><td style="text-align: justify"><b>Texas USA PV</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">During 2023, the Company entered into
a Joint Development Agreement with a project development company experienced in the development of energy projects, site acquisition,
capital markets and commercial management, and commenced development of PV projects in the vicinity of Dallas, Texas. Each of the PV projects
under development is expected to have a capacity of approximately 10-14 MW.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">There are currently two projects under
construction with an aggregate capacity of approximately 27.36 MW (the Fairfield and Malakoff projects), and two projects that are ready
for construction with an aggregate capacity of approximately 21.5 MW (the Mexia and Talco projects). All four projects are expected to
be connected to the grid during 2024.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The aggregate cost of development and
construction of these projects is expected to be approximately &#8364;58 million, and the projects are expected to be funded partially
through a tax equity arrangement covering approximately 36% of the expenses.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">During 2023, the Company entered into
a Joint Development Agreement with a project development company experienced in the development of energy projects, site acquisition,
capital markets and commercial management, and commenced development of PV projects in the vicinity of Dallas, Texas. Each of the PV projects
under development is expected to have a capacity of approximately 10-14 MW. There are currently two projects under construction with an
aggregate capacity of approximately 27.36 MW (the Fairfield and Malakoff projects), and two projects that are ready for construction with
an aggregate capacity of approximately 21.5 MW (the Mexia and Talco projects). All four projects are expected to be connected to the grid
during 2024.</p><span></span>
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<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Trade and Other Receivables<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory', window );">Trade and Other Receivables</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 7 - Trade and Other Receivables</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">3,752</td><td style="width: 1%; text-align: left">&#160;</td></tr>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of trade and other receivables. [Refer: Trade and other receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td>duration</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583023135200">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fixed Assets<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndOtherExplanatoryInformationAbstract', window );"><strong>Fixed Assets [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory', window );">Fixed assets</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 8 - Fixed Assets</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>Investment
in Photovoltaic Plants</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Presented hereunder are data regarding
the Company&#8217;s investments in photovoltaic plants as at December 31, 2023:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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capacity</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: center; padding-left: 5.4pt">Ready to Build status</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">351</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#8220;Talco Solar&#8221;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt">10.3 MWP</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt">Ready to Build status</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">789</td><td style="text-align: left">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">The Company
commences capitalization of expenses when it is probable that the Company will enjoy future economic benefits from the projects. The Company
commenced capitalization of expenses from the aforementioned projects that have reached Ready to Build status as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"><span style="text-decoration:underline">In Texas
USA</span> (i) the <span style="background-color: white">Fairfield Solar LLC Project </span>since February 2023, (ii) the Mexia Solar I LLC
and Mexia Solar II LLC Projects since July 2023, (iii) the Malakoff I Solar LLC and Malakoff II Solar LLC projects since April 2023, and
(iv) the Talco Solar LLC project since September 2023.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"><span style="text-decoration:underline">In Italy</span>
(i) Ellomay Solar Italy Seven <span style="background-color: white">SRL</span> since March 2023, and (ii) Ellomay Solar Italy Nine <span style="background-color: white">SRL</span>
since May 2023. For additional information see Notes 6C and 6D.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>Investment
in Pumped Storage Project</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Commencing the fourth quarter of 2020,
as it is probable that the Company will enjoy future economic benefits in connection with the Manara PSP (see Note 6B), expenses in connection
with the Manara PSP are capitalized as assets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>Security</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As of December 31, 2023 fixed assets
of the Company&#8217;s subsidiaries with a carrying amount of &#8364;339,821 thousand are pledged as security for bank loans (see Note
11 regarding loans and borrowings with respect to terms and repayment dates).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Capitalized borrowing costs</b></p>

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in the amount of &#8364;6,996 thousand were capitalized to qualifying assets for the year 2023. Those expenses are mostly related to the
construction of the Manara PSP.</p><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;doctype=Standard&amp;dita_xref=IAS16_g73-79_TI<br> -URIDate 2023-03-23<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Payables<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 9 - Other Payables</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583023062400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Current maturities and short term bank loans<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlock', window );">Current maturities and short term bank loans</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 10 - Current maturities and short term
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Composed as follows:</b></p>

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<td style="width: 0.25in; text-align: left">(1)</td><td style="text-align: justify">Loans provided by the minority (49%) holders in Talasol.</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of current maturities and short term bank loans.</p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583023119952">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 11 - Loans</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p>

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<td style="width: 0.5in"></td><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Loans details </b></td></tr></table>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><b>Composed as follows:</b></p>

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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left">(1)</td><td style="text-align: justify">Loans provided by the minority (49%) holders in Talasol.</td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><b>Israel - Ellomay PS Loans</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -15.3pt"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 56.7pt"></td><td style="width: 15.3pt; text-align: left">1.</td><td style="text-align: justify"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The Company&#8217;s
83.333% owned Israeli subsidiary promoting the Manara PSP, Ellomay PS, entered into a loan agreement with Ampa, the owner of the remaining
16.667% of its outstanding shares. The unpaid balance (principal and interest) of the loan is split into 2 separate loans, an interest-bearing
loan at an annual rate of 7% linked to the consumer price index (senior international debt), and a mezzanine loan (an internationally
inferior debt) bearing an annual interest rate of 5%. The maturity date of this loan starts from December 31, 2027. As of December 31,
2023, the amount of the loan is NIS 33,910 thousand (&#8364;8,452 thousand).</p>
</td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 56.7pt"></td><td style="width: 15.3pt">2.</td><td style="text-align: justify">On February 11, 2021, the Manara PSP Project Finance achieved financial closing. The Manara PSP Project
Finance facilities are provided by a consortium of Israeli banks and institutional investors, arranged and led by Mizrahi-Tefahot Bank
Ltd. The Manara PSP Project Finance long-term facilities were originally in the aggregate amount of approximately NIS 1.27 billion (approximately
&#8364;338 million). This aggregate amount represents the real (non-indexed) value of the Long-Term Facilities as of the date of financial
closing. Such amount, as well as the standby facilities, is linked to a synthetic composite index comprising a weighted average of the
indices and currencies applicable to the Manara PSP&#8217;s construction costs (the &#8220;Project Index&#8221;), on an annual basis during
the first 4 years of construction, and thereafter semi-annually until construction end. As a result of the linkage to the Project Index,
the long-term facilities amount increased in March 2022 and March 2023 by approximately NIS 40 million (approximately &#8364;10.6 million)
and approximately NIS 63 million (approximately &#8364;16.8 million), respectively.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">The Manara PSP
Project Finance facilities includes two Long-Term Facilities: (i) a Senior Secured A Tranche at a fixed rate of interest for each drawdown,
with base interest rate equal to the yield to maturity of Israeli treasury bonds with like duration of the drawn loan, plus a spread of
3.25% per-annum during the Construction Period of the Project and a spread of 2.40% per-annum from the Actual Completion Construction
Date. The Senior Secured Tranche is linked to the Israeli Consumer Price Index and is to be repaid over a period of 19.5 years from the
commercial operation date; and (ii) a Subordinated Secured B Tranche at a floating rate of interest, with the base interest being the
Bank of Israel rate, plus a spread of 4.35% per-annum during the construction period and a spread of 3.90% per-annum from the Actual Completion
Construction Date. The stated maturity of the Tranche B loan is one year less than the maturity of the Senior Secured Loan with a cash
sweep mechanism that shortens its maturity to approximately 12 years from the commercial operation date under the Base Case Financial
Model and the Manara PSP Project Finance also includes standby facilities (Tranche A and Tranche B).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">The Manara PSP
Project Finance includes customary terms in connection with early prepayment, acceleration of payments upon certain breaches and limitations
on distributions. The Manara PSP Project Finance also includes ancillary facilities VAT, Guarantees and Debt Service Reserve facilities
in an aggregate amount of approximately NIS 64 million (approximately &#8364;17.1 million).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">The Manara PSP
Project Finance includes mandatory cash sweeps upon certain cover ratio and other events with respect to the Senior Secured Tranche, cash
sweep payments in connection with the Subordinated Secured Tranche as mentioned above and other lender protection mechanisms.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">In addition,
the Manara PSP Project Finance agreement permits the owners of the Manara PSP to drawdown a developers&#8217; fee on the Actual Completion
Construction Date (as such term is defined in the Manara PSP Project loan agreements) of the Manara PSP, subject to availability of funding
in the Standby Facility at the time and provided the Average ADSCR at the time is not less than a ratio of 1.28.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">Ellomay and Ampa
provided certain sponsor support undertakings towards the lenders commensurate with the size and complexity of the project and the length
of the construction period, including a standby equity guarantee in the aggregate amount of approximately NIS 12.5 million (approximately
&#8364;3.3 million), pro rata to their holdings in the Manara PSP. This standby equity guarantee is linked monthly to the Israeli CPI and
adjusted (if applicable) in the same manner and timing as the Long-Term Facilities, as described above.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">As of December
31, 2023 a total aggregate amount of NIS 245,656 (&#8364;65,452 thousand) was drawn down under the Manara PSP Project Finance from the
Senior Secured Tranche (interest rate range between 2.75%-4.78% linked to the Israeli Consumer Price Index) and a total aggregate amount
of NIS 20,875 (&#8364;5,527 thousand) was drawn from the Subordinated Secured B Tranche (floating interest rate based on the Bank of Israel
Rate &#8211; 9.1% as of December 31, 2023).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>The Netherland - Bio Gas
- Loans </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -15.3pt">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 56.7pt"></td><td style="width: 15.3pt; text-align: left">1.</td><td style="text-align: justify"><b>Groen Goor</b> and Ellomay Luxembourg entered into a senior
project finance agreement in 2017 (the &#8220;Goor Loan Agreement&#8221;), with Co&#246;peratieve Rabobank U.A. (&#8220;Rabobank&#8221;),
that includes the following tranches: (i) two loans with principal amounts of &#8364;3,510 thousand (with a fixed interest rate of 3%
until the end of 2021 and with a fixed interest rate of 3.45% for the next five years) and &#8364;2,090 thousand, (with a fixed interest
rate of 2.5% until the end of March 2022 and then with a fixed interest rate of 2.65% until the end of March 2023 and with a fixed interest
rate of 6.05% until the end of March 2026), for a period of 12.25 years, repayable in equal monthly installments commencing three months
following the connection of the Goor Project&#8217;s facility to the grid and (ii) an on-call credit facility of &#8364;370 thousand with
variable interest. The amount of &#8364;5,600 thousand was withdrawn in 2017 on account of these loans. In connection with the Goor Loan
Agreement, the following securities were provided to Rabobank: (i) pledge on the present and future rights arising from the feedstock
purchase agreement, the EPC agreement, the O&amp;M agreement, the SDE subsidy, the various power and green gas purchase agreements, and
the green gas certification supply agreement, (ii) pledge on all present and future (a) receivables arising from business and trade,
and (b) stock and inventory including machinery and transport vehicles of Groen Goor, and (iii) all rights/claims of Groen Goor against
third parties existing at the time of the execution of the Loan Agreement, including rights from insurance agreements.</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Groen Gas Oude-Tonge</b> and Ellomay Luxembourg entered into a senior project finance agreement (the &#8220;Oude Tonge Loan Agreement&#8221;), with Rabobank, that includes the following tranches: (i) three loans with principal amounts of &#8364;3,150 thousand (with a fixed interest rate of 3.1% the end of June 2022 and with a fixed interest rate of 3.95% for the next three years), &#8364;1,540 thousand (with a fixed interest rate of 2.9% until the end of March 2023 and with a fixed interest rate of 5.15% for the next five years) and &#8364;160 thousand, (with a fixed interest rate of 3.4% until the end of March 2023 and with a fixed interest rate of 5.65% for the next five years), for a period of 12.25 years, repayable in equal monthly installments commencing three months following the connection of the Oude Tonge Project&#8217;s facility to the grid and (ii) an on-call credit facility of &#8364;100 thousand with variable interest. The amount of &#8364;4,850 thousand was withdrawn in 2017 and 2018 on account of these loans.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the Goor Loan Agreement and the Oude Tonge Loan Agreement Ellomay Luxembourg, the Company&#8217;s wholly-owned subsidiary:
(i) provided the following undertakings to Rabobank: (a) that Groen Goor and Groen Gas Oude Tonge, as applicable, will not make distributions
to its shareholders for a period of two years following the execution of the Loan Agreement, (b) that Groen Goor will not make distributions
or repurchase its shares so long as the equity (including owners loans) to total assets ratio of Groen Goor is less than 40%, (c) that
in the event the equity (including owners loans) to total assets ratio of Groen Goor and Groen Gas Oude Tonge will be below 40%, its
shareholders will invest the equity required in order to increase this ratio to 40%, pro rata to their holdings in Groen Goor and Groen
Gas Oude Tonge, as applicable, and up to a maximum of &#8364;1.2 million, and (d) that they will provide the equity required for the completion
of the Goor Project (ii) provided pledges on their respective rights in connection with the shareholders loans which each provided to
Groen Goor and Groen Gas Oude Tonge, which loans shall also be subordinated by Ellomay Luxembourg in the favor of Rabobank. In addition,
the Company provided a guarantee to Rabobank for the fulfillment of Ellomay Luxembourg&#8217;s undertakings set forth above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -13.5pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GG Gelderland</b> entered into a senior project finance agreement (the &#8220;Gelderland Loan Agreement&#8221;), with Rabobank, that includes the following tranches: (i) four loans with principal amounts of (a) &#8364;2,453 thousand (with a fixed interest rate of 3.6% for the first five years), (b) &#8364;1,200 thousand (with a fixed interest rate of 4.5% until the beginning of December 2020 and with a fixed interest rate of 3.5% until the beginning of December 2025), (c) &#8364;400 thousand (with a fixed interest rate of 3.55% until the end of January 2023 and with a fixed interest rate of 5.95% until the end of the loan period) and (d) &#8364;2,847 thousand (with a fixed interest rate of 4.5% until the beginning of December 2020 and with a fixed interest rate of 3.5% until the beginning of December 2025), all for a period of 12 years (144 monthly payments), repayable in equal monthly installments and (ii) an on-call credit facility of &#8364;750 thousand with variable interest. An aggregate amount of &#8364;6,900 thousand was withdrawn in 2015, 2016 and 2018 on account of these loans. On November 30, 2020, GG Gelderland replaced the loan set forth in (i)(a) above, which as of that date had an outstanding principal amount of &#8364;1,890 thousand, with another loan from Rabobank with a fixed interest rate of 3.1% per year, repayable in 56 payments monthly, with a repayment of principal in one payment in August 2025.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the Gelderland Loan Agreement, the following securities were provided to Rabobank: (i) pledge on the present and future
rights arising from the feedstock purchase agreement, the EPC agreement, the O&amp;M agreement, the SDE subsidy, the various power and
green gas purchase agreements, and the green gas certification supply agreement, (ii) pledge on all present and future (a) receivables
arising from business and trade, and (b) stock and inventory including machinery and transport vehicles of GG Gelderland, and (iii) all
rights/claims of GG Gelderland against third parties existing at the time of the execution of the Gelderland Loan Agreement, including
rights from insurance agreements. In connection with the Gelderland Loan Agreement, Ellomay Luxembourg, the Company wholly-owned subsidiary,
provided the undertaking to Rabobank that Ellomay Luxembourg will not sell the shares of GG Gelderland without the prior written consent
of Rabobank.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">4.</td><td style="text-align: justify"><b>GG Gelderland</b>, entered into a loan agreement in the end of November 2020, with Ontwikkelingsnaatscgappij
Oost-Nederland N.V. (&#8220;Oost&#8221;), as a benefit created in connection with the Covid-19 pandemic. The loan is with a principal
amount of &#8364;750 thousand bore a fixed interest rate of 3 % per year for 3 years. The interest and the principle were to be fully repaid
in one single amount after 3 years. According to the agreement with Oost, the loan term may be prolonged to 5 years. In October 2023,
it was decided to extend the loan to 5 years and the interest rate changed to 5% as from November 2020.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Spain
- Loans</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 12, 2019, four of the Company&#8217;s Spanish subsidiaries (together, the &#8220;Subsidiaries&#8221;) entered into a &#8364;18.4
million project finance Facility Agreement (the &#8220;Facility Agreement&#8221;). The &#8364;18.4 million principal amount is divided
into: (i) four term loan facilities, one for each Subsidiary, in the aggregate amount of &#8364;17.6 million with terms ending in December
2037, and (ii) a revolving credit facility to attend the debt service if needed, for a maximum amount of euro 0.8 million granted to
any of the Subsidiaries.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
loans provided under the Facility Agreement bear an annual interest at the rate of Euribor 6 months plus a margin of 2% (with a zero
interest floor) and repaid semi-annually on June 20 and December 20. The principal is repaid on a semi-annual basis based on a pre-determined
sculptured repayment schedule.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Facility Agreement provides for mandatory prepayment upon the occurrence of certain events and includes various customary representations,
warranties and covenants, including covenants to maintain a DSCR on an aggregate basis not lower than 1.05:1, and not to make distributions
unless, among other things: (i) the DSCR, on an aggregate basis, is equal to or higher than 1.15:1.0, (ii) the first instalment of the
Project Finance has been repaid, (iii) no amount under the revolving credit tranche has been withdrawn and not fully repaid and no drawdowns
of the revolving credit tranche are expected within the next six months, and (iv) the Subsidiaries&#8217; net debt to regulatory value
(as such terms are defined in the Facility Agreement) ratio is equal to or higher than 0.7:1.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white">The
regulatory value of the PV Plants owned by the Subsidiaries is approximately &#8364;23.5 million, compared to their aggregate nominal purchase
price, which was approximately &#8364;14.85 million and their aggregate book value, which was approximately &#8364;14.6 million as of September
30, 2018. The Facility Agreements includes a cash-sweep payment mechanism and obligation that applies in the event the Subsidiaries&#8217;
net debt to regulatory value ratio is equal to or higher than 0.7:1.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white">

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the financial covenants were met.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 12, 2019, the Subsidiaries entered into swap agreements with respect to approximately &#8364;17.6 million (with a decreasing notional
principal amount based on the amortization table) until December 2037, replacing the Euribor 6 month rate with a fixed 6 month rate of
approximately 1%, resulting in a fixed annual interest rate of approximately 3%. Such swap transactions qualify for hedge accounting.
See Note 21 E regarding the effect of the expected transition away from Libor and Euribor.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
documents ancillary to the Facility Agreements require that security interests be provided in connection with the following: (i) the
Subsidiaries&#8217; shares (held by Ellomay Luxembourg(, (ii) pledges over accounts, (iii) pledges over relevant agreements including
hedging agreements; and (iv) promissory equipment mortgage.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Talasol
- Loans </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 35.4pt">1.</td><td style="text-align: justify">In December 2021, Talasol entered into financing agreement (the &#8220;Talasol Facilities Agreement&#8221;).
Financial closing of the Talasol Facilities Agreement was achieved in January 2022. The Talasol Facilities Agreement provides for the
provision of two tranches:</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a term loan in the amount of &#8364;155 million of which the final maturity date is June 30, 2044, and</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr> </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a term loan in the amount of &#8364;20 million of which the final maturity date is December 31, 2042. </span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr> </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Principal
and interest at a weighted average of approximately 3% repayment are made on a semi-annual basis, in June and December.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
agreements executed in connection with the Talasol Financing provide for mandatory prepayment upon the occurrence of certain events and
various customary representations, warranties, and covenants, including covenants to maintain a Historic and Forecast DSCR equal to at
least 1.05x. Moreover, Talasol undertook not to make distributions in the event that: (i) the Historic and Forecast DSCR will be lower
than 1.10x until the expiration date of the Talasol PPA and equal to at least 1.25x thereafter and (ii) the Loan Life Cover Ratio will
be lower than 1.30x from the expiration date of the Talasol PPA and until maturity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.85pt; text-align: justify; text-indent: 0in; background-color: white">The
Talasol Facilities Agreement requires that security interests be provided in connection with the following: (i) Talasol&#8217;s shares
(held by Ellomay Luxembourg and the other shareholders of Talasol), (ii) pledges over credit rights under certain accounts, (iii) pledges
over credit rights under certain Talasol PV Plant&#8217;s documents, (iv) pledges over credit rights under the shareholders loans, (v)
security assignment of receivables in connection with the Talasol PPA, (vi) promissory equipment mortgage and (vii) mortgage on all solar
modules and power inverters comprised in the project.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white">

</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 35.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 30, 2019, following the closing of Talasol PV Plant and sale of 49% holdings of the Talasol Project, Talasol entered into a loan agreement with GSE 3 UK Limited and Fond-ICO Infraestructuras II, FICC (the minority shareholders of Talasol, each of whom owns 24.5% of Talasol). The unpaid balance (principal and interest) of the loan will bear interest of Euribor 6 mount plus 5.27%. The maturity date of this loan is December 31, 2037. As of December 31, 2023, the amount of the loan is &#8364;25,055 thousand.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 35.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The aggregate annual maturities are as follows:</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Second year</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">14,049</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,811</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Third year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,668</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">15,952</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Fourth year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">15,828</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">14,759</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Fifth year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">24,462</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">16,026</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Sixth year and thereafter</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">199,147</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">190,500</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Long-term loans</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">267,154</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">251,048</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Current maturities</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">14,308</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">22,187</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Short-term loans</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">476</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">628</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">281,938</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">273,863</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 35.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In order to minimize the interest-rate risk resulting from liabilities to banks and financing institutions linked to the Euribor, the Company executed swap transactions. For more information, see Note 21.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 35.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Movement in liabilities deriving from financing activities</b></span></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Liabilities</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Loans and</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Note</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">borrowings</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Debentures</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 54%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Balance as at January 1, 2023</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">273,863</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">110,428</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">384,291</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Changes from financing activities</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Proceeds from issue of debentures</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-161; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">55,808</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">55,808</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Repayment of debentures</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">12</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-162; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(17,763</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(17,763</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Receipt of loans</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">32,157</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-163; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">32,157</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Repayment of loans</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(12,736</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-164; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(12,736</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued interest</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,284</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-165; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,284</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Linkage</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,849</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-166; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,849</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Transaction costs related to borrowings</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(686</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">446</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(240</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Transfer to disposal
    groups held for sale</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(13,047</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-167; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(13,047</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total net financing liabilities</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">285,684</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">148,919</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">434,603</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Effect
    of changes in foreign exchange rates</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,746</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(8,832</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(12,578</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Balance as at December
    31, 2023</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">281,938</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">140,087</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">422,025</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Liabilities</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Loans and</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Note</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">borrowings</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Debentures</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 54%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Balance as at January 1, 2022</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">218,895</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">137,299</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">356,194</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Changes from financing
    activities</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Repayment of debentures</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">12</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-168; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(19,764</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(19,764</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Receipt of loans</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">215,170</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-169; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">215,170</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Repayment of loans</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(153,751</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-170; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(153,751</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Accrued interest</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,488</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-171; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,488</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Linkage</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,029</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-172; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,029</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Transaction costs
    related to borrowings</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,861</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">779</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,082</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Issuance of capital
    note to non-controlling interest</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,958</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-173; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,958</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Total net financing liabilities</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">277,012</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">118,314</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">395,326</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Effect
    of changes in foreign exchange rates</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,149</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(7,886</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(11,035</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Balance as at December
    31, 2022</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">273,863</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">110,428</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">384,291</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583030539696">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Debentures<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesAbstract', window );"><strong>Debentures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDebtSecuritiesExplanatory', window );">Debentures</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
12 - Debentures</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 183pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 35.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Composed as follows:</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">December
    31, 2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">December
    31, 2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Face
    value</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Carrying<br/>
    amount</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Face
    value</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Carrying<br/>
    amount</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 52%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Debentures</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">141,689</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">140,087</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">111,911</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">110,428</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Less
    current maturities</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">35,698</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">35,200</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">19,078</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">18,714</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Total
    long-term debentures</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">105,991</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">104,887</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">92,833</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">91,714</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 35.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Debentures
                                            &#8211; Details</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series
C Debentures</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 25, 2019, the Company issued Series C Debentures due June 30, 2025 in a public offering in Israel in the aggregate principal amount
of NIS 89,065 thousand (approximately &#8364;22,690 thousand based on the Euro/NIS exchange rate at that time). The gross proceeds of
the offering were NIS 89,065 thousand and the net proceeds of the offering, net of related expenses such as consultancy fee and commissions,
were approximately NIS 87,600 thousand (approximately &#8364;22,317 thousand based on the Euro/NIS exchange rate at that time).</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
October 26, 2020, the Company completed a public offering in Israel of additional Series C Debenture and a of Series 1 Options (see Note
16A). The Company issued an aggregate principal amount of NIS 154,000 thousand (approximately &#8364;38,500 thousand based on the Euro/NIS
exchange rate at that time) of Series C Debentures and 385,000 Series 1 Options. The gross proceeds from the offering were NIS 164,200
thousand (approximately &#8364;41,100 thousand based on the Euro/NIS exchange rate at that time) and the net proceeds of the offering,
net of related expenses such as consultancy fee and commissions, were approximately NIS 162,400 thousand (approximately &#8364;40,300
thousand based on the Euro/NIS exchange rate at that time).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
February 23, 2021, the Company issued additional Series C Debentures in a public offering in Israel in an aggregate principal amount
of NIS 100,939 thousand (approximately &#8364;25,442 thousand based on the Euro/NIS exchange rate at that time). The gross proceeds from
the offering were NIS 102,400 thousand and the net proceeds of the offering, net of related expenses such as consultancy fee and commissions,
were approximately NIS 101,500 thousand (approximately &#8364;25,534 thousand based on the Euro/NIS exchange rate at that time).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
October 2021, the Company issued additional Series C Debentures in an aggregate principal amount of NIS 120,000 thousand (approximately
&#8364;32,100 thousand based on the Euro/NIS exchange rate at that time) to Israeli classified investors in a private placement for an
aggregate gross consideration of approximately NIS 121,600 thousand (approximately &#8364;32,529 thousand based on the Euro/NIS exchange
rate at that time), reflecting a price of NIS <span style="-sec-ix-hidden: hidden-fact-176">1.0135</span> per NIS 1 principal amount.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
order to manage the currency risk resulting from the Series C Debentures, which are denominated in NIS, the Company executed currency
swap transactions in March 2021. The Company exchanged Series C Debentures NIS denominated notional principal in the aggregate amount
of NIS 100,000 thousand with a euro notional principal. Such currency swap transactions qualify for hedge accounting. On August 17, 2022,
the currency swap was realized at an exercise price of &#8364;3,800 thousand.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
principal amount of Series C Debentures is repayable in five (5) unequal annual installments as follows: on June 30, 2021 10% of the
principal shall be paid, on June 30 of each of the years 2022 and 2023, 15% of the principal shall be paid and on June 30 of each of
the years 2024 and 2025, 30% of the principal shall be paid. The Series C Debentures originally bore a fixed interest at the rate of
3.3% per year (that is not linked to the Israeli CPI or otherwise), payable semi-annually on June 30 and December 31 commencing December
31, 2019 through June 30, 2025 (inclusive).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 6, 2022, the holders of Series C Debentures approved an amendment to the Series C Deed of Trust, which provides for certain revisions
to the financial covenants and for the increase of the annual interest rate payable on the principal of the Series C Debentures by 0.25%
from 3.3% to 3.55%, commencing on June 6, 2022.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series C Deed of Trust includes customary provisions, including (i) a negative pledge such that the Company may not place a floating
charge on all of the Company&#8217;s assets, subject to certain exceptions and (ii) an obligation to pay additional interest for failure
to maintain certain financial covenants, with an increase of 0.25% for the period in which the Company do not meet each standard and
up to an annual increase of 0.5%. The Series C Deed of Trust does not restrict the Company&#8217;s ability to issue any new series of
debt instruments, other than in certain specific circumstances, and enables us to expand the Series C Debentures provided that: (i) the
Company is not in default of any of the immediate repayment provisions included in the Series C Deed of Trust or in breach of any of
the Company&#8217;s material obligations to the holders of the Series C Debentures pursuant to the terms of the Series C Deed of Trust,
(ii) the expansion will not harm the Company&#8217;s compliance with the financial covenants included in the distribution undertaking
Series C Deed of Trust and (iii) to the extent the Series C Debentures are rated at the time of the expansion, the expansion will not
harm the rating of the existing Series C Debentures.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series C Deed of Trust includes a number of customary causes for immediate repayment, including a default with certain financial covenants
for two consecutive financial quarters, and includes a mechanism for the update of the annual interest rate of the Series C Debentures
in the event the Company does not meet certain financial covenants. The financial covenants are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the Company&#8217;s Adjusted Balance Sheet Equity (as such term is defined in the Series C Deet of Trust, which, among other exclusions, excludes changes in the fair value of hedging transactions of electricity prices, such as the Talasol PPA), on a consolidated basis, shall not be less than &#8364;50 million for purposes of the immediate repayment provision and shall not be less than &#8364;60 million for purposes of the update of the annual interest provision;</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The ratio of (a) the short-term and long-term debt from banks, in addition to the debt to holders of debentures issued by us and any other interest-bearing financial obligations, net of cash and cash equivalents and short-term investments and net of financing of projects, including hedging transactions in connection with such financing, of the Company&#8217;s subsidiaries (together, the &#8220;Series C Net Financial Debt&#8221;), to (b) the Company&#8217;s Series C Adjusted Balance Sheet Equity, on a consolidated basis, plus the Net Financial Debt (the &#8220;Series C CAP, Net&#8221; and the &#8220;Series C Ratio of Net Financial Debt to Series C CAP, Net,&#8221; respectively), shall not exceed the rate of 67.5% for purposes of the immediate repayment provision and shall not exceed a rate of 60% for purposes of the update of the annual interest provision; and</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            ratio of (a) the Series C Net Financial Debt, to (b) the Company&#8217;s earnings before
                                            financial expenses, net, taxes, depreciation and amortization, where the revenues from the
                                            Company&#8217;s operations, such as the Talmei Yosef Plant, are calculated based on the
                                            fixed asset model and not based on the financial asset model (IFRIC 12), and before share-based
                                            payments, based on the aggregate four preceding quarters (the &#8220;Series C Adjusted EBITDA&#8221;
                                            and the &#8220;Series C Ratio of Net Financial Debt to Series C Adjusted EBITDA,&#8221; respectively),
                                            shall not be higher than 12 for purposes of the immediate repayment provision and shall not
                                            be higher than 10 for purposes of the update of the annual interest provision.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series C Deed of Trust further provides that the Company may make distributions (as such term is defined in the Companies Law, e.g. dividends),
to the Company&#8217;s shareholders, provided that: (a) the Company will not distribute more than 75% of the distributable profit, (b)
the Company will not distribute dividends based on profit due to revaluation (for the removal of doubt, negative goodwill will not be
considered a revaluation profit), (c) the Company is in compliance with all of its material undertakings to the holders of the Series
C Debentures and (d) on the date of distribution and after the distribution no cause for immediate repayment exists. The Company is also
required to maintain the following financial ratios (which are calculated based on the same definitions applicable to the financial covenants
set forth above) after the distribution: (i) Series C Adjusted Balance Sheet Equity not lower than &#8364;70 million, (ii) Series C Ratio
of Net Financial Debt to Series C CAP, Net not to exceed 60%, and (iii) Series C Ratio of Net Financial Debt to Series C Adjusted EBITDA,
shall not be higher than 8, and not to make distributions if the Company do not meet all of its material obligations to the holders of
the Series C Debentures and if on the date of distribution and after the distribution a cause for immediate repayment exists.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the financial covenants were met.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series
D Convertible Debentures</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
February 23, 2021, the Company issued new Series D Convertible Debentures in a public offering in Israel in the aggregate principal amount
of NIS 62,000 thousand (approximately &#8364;15,627 thousand based on the Euro/NIS exchange rate at that time). The principal amount of
the Series D Convertible Debentures is repayable in one installment on December 31, 2026. The Series D Convertible Debentures bear a
fixed interest at the rate of 1.2% per year (that is not linked to the Israeli CPI or otherwise), payable semi-annually on June 30 and
December 31 commencing June 30, 2021, through December 31, 2026 (inclusive). The Series D Convertible Debentures are convertible into
the Company&#8217;s ordinary shares, NIS 10.00 par value per share, at a conversion price of NIS 165 (approximately &#8364;41.6 based
on the Euro/NIS exchange rate at that time), subject to adjustments upon customary terms. The Series D Convertible Debentures are not
rated. The gross proceeds from the offering were approximately NIS 62,600 thousand and the net proceeds of the offering, net of related
expenses such as consultancy fee and commissions, were approximately NIS 61,800 thousand (approximately &#8364;15,577 thousand based on
the Euro/NIS exchange rate at that time). Of the total proceeds, an amount NIS 7,504 thousand (approximately &#8364;1,890 thousand based
on the Euro/NIS exchange rate at that time) was recognized in Other long-term liabilities in connection with the convertible component.
As of December 31, 2023, the amount of the liability was &#8364;82 thousand.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series D Deed of Trust includes customary provisions, including (i) a negative pledge such that the Company may not place a floating
charge on all of the Company assets, subject to certain exceptions and (ii) an obligation to pay additional interest for failure to maintain
certain financial covenants, with an increase of 0.25% in the annual interest rate for the period in which the Company do not meet each
standard and up to an increase of 0.75% in the annual interest rate.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series D Deed of Trust does not restrict the Company ability to issue any new series of debt instruments, other than in certain specific
circumstances, and enables us to expand the Series D Convertible Debentures up to an aggregate par value of NIS 200 million provided
that: (i) The Company is not in default of any of the immediate repayment provisions included in the Series D Deed of Trust or in breach
of any of its material obligations to the holders of the Series D Convertible Debentures pursuant to the terms of the Series D Deed of
Trust, (ii) the expansion will not harm the Company compliance with the financial covenants included in the distribution undertaking
Series D Deed of Trust and (iii) to the extent the Series D Convertible Debentures are rated at the time of the expansion, the expansion
will not harm the rating of the existing Series D Convertible Debentures.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series D Deed of Trust includes a number of customary causes for immediate repayment, including a default with certain financial covenants
for the applicable period, and includes a mechanism for the update of the annual interest rate of the Series D Convertible Debentures
in the event the Company do not meet certain financial covenants. The financial covenants are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company Adjusted Balance Sheet Equity (as such term is defined in the Series D Deed of Trust, which, among other exclusions, excludes changes in the fair value of hedging transactions of electricity prices, such as the Talasol PPA), on a consolidated basis, shall not be less than &#8364;70 million for two consecutive quarters for purposes of the immediate repayment provision and shall not be less than &#8364;75 million for purposes of the update of the annual interest provision;</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr> </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The ratio of (a) the short-term and long-term debt from banks, in addition to the debt to holders of debentures issued by us and any other interest-bearing financial obligations provided by entities who are in the business of lending money (excluding financing of projects and other exclusions as set forth in the Series D Deed of Trust), net of cash and cash equivalents, short-term investments, deposits, financial funds and negotiable securities, to the extent that these are not restricted (with the exception of a restriction for the purpose of securing any financial debt according to this definition) (together, the &#8220;Series D Net Financial Debt&#8221;), to (b) The Series D Adjusted Balance Sheet Equity, on a consolidated basis, plus the Series D Net Financial Debt (the &#8220;Series D CAP, Net&#8221; and the &#8220;Series D Ratio of Net Financial Debt to Series D CAP, Net,&#8221; respectively), shall not exceed the rate of 68% for three consecutive quarters for purposes of the immediate repayment provision and shall not exceed a rate of 60% for purposes of the updated of the annual interest provision; and</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr> </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in">3.</td><td style="text-align: justify">The ratio of (a) the Series D Net Financial Debt, to (b) the Company earnings before financial expenses,
net, taxes, depreciation and amortization, where the revenues from its operations, such as the Talmei Yosef Plant, are calculated based
on the fixed asset model and not based on the financial asset model (IFRIC 12), and before share-based payments, when the data of assets
or projects whose Commercial Operation Date occurred in the four quarters that preceded the test date will be calculated based on Annual
Gross Up (as such terms are defined in the Series D Deed of Trust), based on the aggregate four preceding quarters (the &#8220;Series
D Adjusted EBITDA&#8221; and the &#8220;Series D Ratio of Net Financial Debt to Series D Adjusted EBITDA,&#8221; respectively), shall
not be higher than 14 for purposes of the immediate repayment provision and shall not be higher than 12 for purposes of the update of
the annual interest provision.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series D Deed of Trust includes similar conditions to the Company ability to make distributions (as such term is defined in the Companies
Law, e.g. dividends), to the Company shareholders as are included in the Series C Deed of Trust and set forth above. The Company is also
required to maintain the following financial ratios (which are calculated based on the same definitions applicable to the financial covenants
set forth above) after the distribution: (i) Series D Adjusted Balance Sheet Equity not lower than &#8364;85 million, (ii) Series D Ratio
of Series D Net Financial Debt to Series D CAP, Net not to exceed 60%, and (iii) Series D Ratio of Series D Net Financial Debt to Series
D Adjusted EBITDA, shall not be higher than 9, and not to make distributions if the Company do not meet all of the Company material obligations
to the holders of the Series D Convertible Debentures and if on the date of distribution and after the distribution a cause for immediate
repayment exists.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the financial covenants were met.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series
E Debentures</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On February 1, 2023, the Company issued
NIS 220 million (approximately &#8364;58.5 million based on the Euro/NIS exchange rate at that time) of the Series E Secured Debentures,
due March 31, 2029, through a public offering in Israel. The net proceeds of the offering, net of related expenses such as consultancy
fee and commissions, were approxim<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ately NIS 218 million (approximately
&#8364;56 million based on the Euro/NIS exchange rate at that time). The Series E Debentures are secured by the following pledges:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">i.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a fixed pledge first degree on shares of Ellomay Luzon Energy held by Ellomay Energy LP, representing a 50% ownership of Ellomay Luzon Energy, which holds 18.75% of Dorad;</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr> </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
                                            floating first-degree pledge and an assignment by way of a pledge of, and with respect to,
                                            Ellomay Energy LP&#8217;s rights and agreements in connection with shareholder&#8217;s loans
                                            and capital notes provided by Ellomay Energy LP to Ellomay Luzon Energy; and</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
                                                                                                                                         </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iii.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
                                            fixed first-degree pledge on the Company rights and the rights of Ellomay Energy LP in and
                                            to a trust bank account in the name of the trustee of the Series E Secured Debentures.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
principal amount of Series E Secured Debentures is repayable in four equal installments on March 31 from 2026 through 2029 (inclusive).
The Series E Secured Debentures bear a fixed interest at the rate of 6.05% per year (that is not linked to the Israeli CPI or otherwise),
payable semi-annually on March 31 and September 30, commencing March 31, 2023 through March 31, 2029 (inclusive).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series E Deed of Trust includes customary provisions, including (i) a negative pledge such that the Company may not place a floating
charge on all of its assets, subject to certain exceptions and (ii) an obligation to pay additional interest for failure to maintain
certain financial covenants, with an increase of 0.25% in the annual interest rate for the period in which the Company do not meet each
standard and up to an increase of 0.75% in the annual interest rate. The Series E Deed of Trust does not restrict the Company ability
to issue any new series of debt instruments, other than in certain specific circumstances, and enables us to expand the Series E Secured
Debentures provided that: (i) The Company is not in default of any of the immediate repayment provisions included in the Series E Deed
of Trust or in breach of any of its material obligations to the holders of the Series E Secured Debentures pursuant to the terms of the
Series E Deed of Trust, (ii) the expansion will not harm its compliance with the financial covenants for purposes of the immediate repayment
provision included in the Series E Deed of Trust, (iii) to the extent the Series E Secured Debentures are rated at the time of the expansion,
the expansion will not harm the rating of the existing Series E Secured Debentures and (iv) the par value of the Series E Secured Debentures
may not be higher than NIS 220 million following the expansion.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series E Deed of Trust includes a number of customary causes for immediate repayment, including a default with certain financial covenants
for the applicable period, and as noted above a mechanism for the update of the annual interest rate in the event the Company do not
meet certain financial covenants. The financial covenants are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in">a.</td><td style="text-align: justify">The Company Series E Adjusted Balance Sheet Equity (as such term is defined in the Series E Deed of Trust,
which, among other exclusions, excludes changes in the fair value of hedging transactions of electricity prices, such as the Talasol PPA),
on a consolidated basis, shall not be less than &#8364;75 million for two consecutive quarters for purposes of the immediate repayment
provision and shall not be less than &#8364;80 million for purposes of the update of the annual interest provision;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
                                                                                                                     </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The ratio of (a) the short-term and long-term debt from banks, in addition to the debt to holders of debentures issued by us and any other interest-bearing financial obligations provided by entities who are in the business of lending money (excluding financing of projects and other exclusions as set forth in the Series E Deed of Trust), net of cash and cash equivalents, short-term investments, deposits, financial funds and negotiable securities, to the extent that these are not restricted (with the exception of a restriction for the purpose of securing any financial debt according to this definition), or, together, the Series E Net Financial Debt, to (b) the Company Series E Adjusted Balance Sheet Equity, on a consolidated basis, plus the Series E Net Financial Debt, or the Company Series E CAP, Net (the &#8220;Series E Ratio of Net Financial Debt to Series E CAP, Net&#8221;), shall not exceed the rate of 65% for three consecutive quarters for purposes of the immediate repayment provision and shall not exceed a rate of 60% for purposes of the update of the annual interest provision; and</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr> </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            ratio of (a) the Company Series E Net Financial Debt, to (b) the Company earnings before
                                            financial expenses, net, taxes, depreciation and amortization, where the revenues from the
                                            Company operations, such as the Talmei Yosef PV Plant, are calculated based on the fixed
                                            asset model and not based on the financial asset model (IFRIC 12), and before share-based
                                            payments, when the data of assets or projects whose Commercial Operation Date occurred in
                                            the four quarters that preceded the test date will be calculated based on Annual Gross Up
                                            (as such terms are defined in the Series E Deed of Trust), based on the aggregate four preceding
                                            quarters, or the Company Series E Adjusted EBITDA (the &#8220;Series E Ratio of Net Financial
                                            Debt to Series E Adjusted EBITDA&#8221;), shall not be higher than 12 for three consecutive
                                            quarters for purposes of the immediate repayment provision and shall not be higher than 11
                                            for purposes of the update of the annual interest provision.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series E Deed of Trust further provides that the Company may make distributions (as such term is defined in the Companies Law, e.g. dividends),
to its shareholders, provided that: (a) the Company will not distribute more than 60% of the distributable profit, (b) the Company will
not distribute dividends based on profit due to revaluation (for the removal of doubt, negative goodwill will not be considered a revaluation
profit), (c) the Company are in compliance with all of its material undertakings to the holders of the Series E Secured Debentures, (d)
on the date of distribution and after the distribution no cause for immediate repayment exists and (e) the Company will not make a distribution
for as long as a &#8220;warning sign&#8221; (as such term is defined in the Israeli Securities Regulations) exists.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company is also required to maintain the following financial ratios (which are calculated based on the same definitions applicable to
the financial covenants set forth above) after the distribution: (i) Series E Adjusted Balance Sheet Equity not lower than &#8364;90 million,
(ii) Series E Ratio of Net Financial Debt to Series E CAP, Net not to exceed 60%, and (iii) Series E Ratio of Net Financial Debt to Series
E Adjusted EBITDA, shall not be higher than 9, and not to make distributions if the Company do not meet all of its material obligations
to the holders of the Series E Secured Debentures and if on the date of distribution and after the distribution a cause for immediate
repayment exists.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the financial covenants were met.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The aggregate annual maturities are as follows:</b></span></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Second year</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">35,212</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">37,779</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Third year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">28,692</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">37,792</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Fourth year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,625</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">16,143</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Fifth year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,657</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-174; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Sixth year and thereafter</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,701</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-175; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Long-term debentures</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">104,887</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">91,714</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Current maturities</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">35,200</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">18,714</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of debt instruments. [Refer: Debt instruments issued; Debt instruments held]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583020145520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Long-term Liabilities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory', window );">Other Long-term Liabilities</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
13 - Other Long-term Liabilities</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,626</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Liabilities for employee&#8217;s
    benefits</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">62</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">939</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,021</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><sup>(1)</sup></td><td style="text-align: justify">Represents the long-term portion of the potential liability
in connection with the acquisition of rights in the Manara PSP. See Note 6B.</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of other non-current liabilities. [Refer: Other non-current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583027446208">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Leases<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutLeasesForLesseeAbstract', window );"><strong>Leases [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfLeasesExplanatory', window );">Leases</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
14 - Leases</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Leases
in which the Company is the lessee</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has lease agreements with respect to the following items:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lands;
                                            and</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
                                                                </table>

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<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Machinery
                                            equipment.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Information
                                            regarding material lease agreements</b></span></td></tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2cm; text-align: justify">Ellomay PS leases land in Israel from
private lessors for a period of 24 years and 11 months, on which the Manara PSP is constructed. The contractual period of the aforesaid
lease agreements ends in July 2046. Ellomay PS paid capitalized rents in the total amount of NIS 28,800 thousand (approximately &#8364;7,758
thousand) to the private lessors, not including VAT. The discounted rent is linked to the Israeli CPI and constitutes an advance payment
for the entire rental period. In addition, Ellomay PS will pay a regular quarterly rent of approximately NIS 165 thousand per quarter,
not including VAT. The quarterly rent will increase by 2% every 3 years and is linked to the Israeli CPI. A lease liability in the amount
of &#8364;10,629 thousand and right-of-use asset in the amount of &#8364;10,629 thousand have been recognized in the statement of financial
position in April 2021 in respect of the Manara PSP&#8217;s leases of land.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Information
                                            regarding material lease agreements entered into during the period</b></span></td></tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellomay
Solar Italy Seven SRL and Ellomay Solar Italy Nine SRL lease land in Italy from private lessors for a period of 31 years. The contractual
period of the aforesaid lease agreements ends between March 2054 until May 2054. They will pay a regular annual rent of approximately
&#8364;208 thousand, not including VAT and capitalized rents in the total amount of &#8364;397 thousand. The annual rent is linked to the
Italian CPI. A lease liability in the amount of &#8364;2,527 thousand and right-of-use asset in the amount of &#8364;2,527 thousand have
been recognized in 2023 in respect of these leases of land.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fairfield
Solar LLC, Mexia Solar I LLC, Mexia Solar II LLC, Malakoff Solar I LLC, Malakoff Solar II LLC, and Talco Solar LLC lease land in the
vicinity of Texas, Dallas, USA from private lessors for 25-35 years. The contractual period of the aforesaid lease agreements ends between
February 2048 and September 2058. They will pay a regular annual rent of approximately &#8364;207 thousand, not including VAT, commencing
the beginning of operations. The annual rent increases by 2.0% every year. A lease liability in the amount of &#8364;2,142 thousand and
right-of-use asset in the amount of &#8364;2,142 thousand have been recognized in 2023 in respect of these leases of land.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Right-of-use assets</b></span></td></tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bio
                                            Gas</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Italy</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Spain</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Talasol</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Pumped<br/>
    storage</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>USA</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Talmei
                                            </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Yosef</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="30" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; width: 20%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Balance
    as at January 1, 2023</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">46</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,733</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,314</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,183</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">10,413</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-177; font-family: Times New Roman, Times, Serif">-</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,331</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">30,020</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Lease
    agreements entered into during the period</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-178; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,527</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-179; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-180; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-181; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,142</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-182; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,669</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Depreciation
    for the year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(26</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(262</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(126</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(455</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(429</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(24</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(111</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,433</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Other</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Transfer
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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-190; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-191; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-192; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-194; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Balance
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  </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bio
                                            Gas</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Italy</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Spain</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Talasol</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    storage</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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                                            </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Yosef</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; width: 30%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Balance
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(473</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Effect
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    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Balance
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Lease
                                            liability</b></span></td></tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Maturity
analysis of the Company&#8217;s lease liabilities</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">24,380</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Current maturities of
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    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">700</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Long-term lease liability</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23,680</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Additional
                                            information on leases</b></span></td></tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(a)</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amounts recognized in profit or loss</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>



<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">*2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">*2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">*2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Depreciation on right-of-use asset</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">718</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">743</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">774</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Interest expenses on lease
    liability</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">407</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">370</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">367</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
remainder of the depreciation and the interest is capitalized to fixed assets.</span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Including
the amounts of &#8364;111 thousand, &#8364;117 thousand and &#8364;110 thousand recorded in the depreciation expenses that were presented
as a discontinued operation and classified as held for sale for 2023, 2022 and 2021, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Including
the amounts of &#8364;66 thousand, &#8364;74 thousand and &#8364;73 thousand recorded in the interest expenses on lease liability that were
presented as a discontinued operation and classified as held for sale for 2023, 2022 and 2021, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(b)</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Short-term
                                            leases</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
mentioned in Note 3F regarding material accounting policies, the Company, in accordance with the practical expedient, accounts for short-term
leases and leases of low-value assets as expenses on a straight-line basis over the lease term, instead of a right-of-use asset and lease
liability. These leases include office space in the amount of approximately &#8364;262 thousand.</span></p><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for leases.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Section Presentation<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;doctype=Standard&amp;dita_xref=IFRS16_g47-50_TI<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;doctype=Standard&amp;dita_xref=IFRS16_g51-60_TI<br> -URIDate 2023-03-23<br></p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583020168848">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions and Balances with Related Parties<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransactionsAndBalancesWithRelatedPartiesAbstract', window );"><strong>Transactions and Balances with Related Parties [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfRelatedPartyExplanatory', window );">Transactions and Balances with Related Parties</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
15 - Transactions and Balances with Related Parties</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 30, 2008, the Company&#8217;s shareholders approved the terms of a management services agreement entered into among the Company, Kanir Joint Investments (2005) Limited Partnership (&#8220;Kanir&#8221;), the one of the Company&#8217;s controlling shareholders, and Meisaf Blue &amp; White Holdings Ltd. (&#8220;Meisaf&#8221;), a company controlled by the Company&#8217;s chairman of the board and controlling shareholder, effective as of March 31, 2008 (the &#8220;Previous Management Agreement&#8221;). The aggregate annual management fee under the Previous Management Agreement, as updated, was $400 thousand.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
the annual shareholders meeting held on August 12, 2021, the Company&#8217;s shareholders approved, following the approval by the Audit
and Compensation Committee and Board of Directors, an Amended and Restated Management Services Agreement, effective July 1, 2021 (the
&#8220;Management Agreement&#8221;), which provides, among other things, for the payment of NIS 1,386 thousand, (approximately &#8364;345
thousand) per year to Meisaf in consideration for the services provided by Meisaf, including the service of Mr. Nehama as the Company
Chairman of the Board in no less than a 77% position, and the payment of NIS 1,800 million (approximately &#8364;449 thousand) per year
to Kanir and Keystone R.P. Holdings and Investments Ltd., a private company wholly-owned by Mr. Ran Fridrich (&#8220;Keystone&#8221;)
(in an initial allocation of NIS 0.66 million to Kanir and NIS 1.14 million to Keystone) in consideration for service provided by these
entities, including the service of Mr. Fridrich as the Company Chief Executive Officer in a full-time position and as a Board member.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the Management Agreement, Meisaf, Kanir and Keystone, through their employees, officers and directors, will assist the Company in
all aspects of the management of the Company and advise as required from time to time by the Company, including provision of Chairman,
CEO and Board services as detailed above. The Management Agreement is valid until June 30, 2024 or until its earlier termination in accordance
with its terms.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company sub-leases a small part of its office space to a company controlled by Mr. Shlomo Nehama, the Company&#8217;s chairman of the
Board and a controlling shareholder, at a price per square meter based on the price that it pays under its lease agreements. This sub-lease
agreement was approved by the Company&#8217;s Board of Directors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company employs the son of Mr.
Shlomo Nehama as a project manager in connection with the development activities of photovoltaic plants in Texas, USA. The annual cost
of employment of Mr. Nehama&#8217;s son, for the year ended December 31, 2023, as approved by the Company&#8217;s shareholders, is approximately
NIS 239 thousand (approximately &#8364;60&#160;thousand).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Compensation
                                            to key management personnel and interested parties (including directors)</b></span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
directors and officers participate in the Company&#8217;s share option programs. For further information see Note 17 regarding share-based
payments.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.55pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compensation
to key management personnel and interested parties that are employed by, or provide consulting services to, the Company:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
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    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">People</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Amount</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
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    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 28%; text-align: left">Short-term <span style="font-family: Times New Roman, Times, Serif">Benefits</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;763</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Post-employment Benefits</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">66</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">2</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">61</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Share-based payments</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">3</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">80</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">3</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compensation
to directors (excluding compensation paid under the Management Agreement):</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-indent: -0.125in; padding-left: 0.125in; width: 28%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total compensation to directors
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Share-based payments</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">10</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Debts and loans to related and interested parties</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    income recognized in <br/>
statement of</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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</td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Linkage</span><br/>
</td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 16%; text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Ellomay Luzon
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See Note 6A regarding the conversion of approximately NIS 46,933 thousand of the shareholders loans (of which the Company&#8217;s portion is approximately NIS 23,467 thousand) to capital notes.</span></td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583020116912">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAbstract', window );"><strong>Equity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory', window );">Equity</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
16 - Equity </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Composition of share capital</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td style="white-space: nowrap; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="white-space: nowrap; width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17,000,000</span></td><td style="white-space: nowrap; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="white-space: nowrap; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="white-space: nowrap; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="white-space: nowrap; width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,849,295 </span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net of 258,046 Ordinary shares held as treasury shares as of December 31, 2023, 2022 and 2021, all of which have been purchased according to share buyback programs that were authorized by the Company&#8217;s Board of Directors.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
October 26, 2020, the Company completed a public offering in Israel of additional Series C Debenture (see Note 12B) with an aggregate
principal amount of NIS 154 million (approximately &#8364;38.5 million based on the Euro/NIS exchange rate at that time) (subject to adjustments
upon customary terms and 385,000 Series 1 Options, tradable on the Tel Aviv Stock Exchange, to purchase the Company&#8217;s ordinary
shares at an exercise price per share of NIS 150 (approximately &#8364;37.5 based on the Euro/NIS exchange rate at that time) (subject
to adjustments upon customary terms). Of the total proceeds of the offering, an amount NIS 8,891 thousand (approximately &#8364;2,224
thousand based on the Euro/NIS exchange rate at that time) was recognized in Other long-term liabilities in connection with these options.
As of December 31, 2023, the amount of the liability was &#8364;2 thousand.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
February 23, 2021, the Company issued new Series D Convertible Debentures in a public offering in Israel in the aggregate principal amount
of NIS 62,000 thousand (approximately &#8364;16,956 thousand based on the Euro/NIS exchange rate at that time) (see Note 12B). The Series
D Convertible Debentures are convertible into the Company&#8217;s ordinary shares, NIS 10.00 par value per share, at a conversion price
of NIS 165 (approximately &#8364;41.6 based on the Euro/NIS exchange rate at that time), subject to adjustments upon customary terms.
Of the total proceeds of the offering, an amount NIS 7,504 thousand (approximately &#8364;1,890 thousand based on the Euro/NIS exchange
rate at that time) was recognized in Other long-term liabilities in connection with the convertible component. As of December 31, 2023,
the amount of the liability was &#8364;82 thousand.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
2022, one of the Company&#8217;s employees exercised options to purchase 3,290 ordinary shares, respectively. No options were exercised
during 2023.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Rights
                                            attached to shares:</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Voting
                                            rights at the general meeting, right to dividend and rights upon liquidation of the Company.</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
                                                                                                                                                         </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Commencing
                                            August 22, 2011, the Company&#8217;s ordinary shares have been listed on the NYSE American
                                            (formerly the NYSE MKT and the NYSE Amex). On October 27, 2013, the Company&#8217;s ordinary
                                            shares were also listed for trading on the Tel Aviv Stock Exchange in Israel.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Translation
                                            reserve from foreign operation</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capital
                                            management in the Company</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s capital management objectives are:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
                                            preserve the Company&#8217;s ability to ensure business continuity thereby creating a return
                                            for the shareholders, investors and other interested parties.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
                                            ensure adequate return for the shareholders by making reasonable investment decisions based
                                            on the level of internal rate of return that is in line with the Company&#8217;s business
                                            activity.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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                                            maintain healthy capital ratios in order to support business activity and maximize shareholders
                                            value.</span></td></tr></table><span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for share capital, reserves and other equity interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 79<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583023008112">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share-Based Payment<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory', window );">Share-Based Payment</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
17 - Share-Based Payment</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Expenses
                                            recognized in the financial statements</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
expenses recognized in the financial statements for services received from directors and employees is shown in the following table:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Year
    ended December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    thousand</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Expenses arising
    from share-based payment&#160;transactions</span></td><td style="width: 1%; font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">122</span></td><td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">127</span></td><td style="width: 1%; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">63</span></td><td style="width: 1%; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
share-based payments that the Company granted to its employees and directors are described below. There have been no modifications or
cancellations to any of the share options plans during 2023, 2022 or 2021. The amount recognized as an expense is adjusted to reflect
the actual number of share options that are expected to vest.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
fair value of the options is estimated using a Black-Scholes options pricing model with the following weighted average assumptions:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Year
    ended December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Dividend yield</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0</span></td><td style="font-weight: bold">%</td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0</span></td><td>%<span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0</span></td><td>%<span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Expected volatility</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Risk-free interest</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Expected life (in years)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Exercise price</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">27.22</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
options granted during 2023, 2022 and 2021 were granted with exercise price equal to or higher than the market price on the date of grant.
Weighted average fair values and exercise price of options on dates of grant are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Equal
    market price</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">US$</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Weighted average
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    <td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">16.11</span></td><td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">27.22</span></td><td style="width: 1%; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">29.27</span></td><td style="width: 1%; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt">&#160;</td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
    <td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: right">&#160;</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt; text-align: right">&#160;</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt; text-align: right">&#160;</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Weighted average fair
    value on grant date</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5.11</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7.27</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">9.65</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stock
                                            Option Plans</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
December 1998, the Company&#8217;s shareholders approved the non-employee director stock option plan (the &#8220;1998 Plan&#8221;). Each
option granted under the 1998 Plan originally vested immediately and expires after 10 years. Generally, the Company grants options under
the plan with an exercise price equal to the market price of the underlying shares on the date of grant. An aggregate amount of not more
than 75,000 ordinary shares was reserved for grants under the 1998 Plan. The original expiration date of the 1998 Plan pursuant to its
terms was December 8, 2008 (10 years after its adoption). In January 2008 and June 2018, the term of the 1998 Plan was extended and as
a result on the current expiration date is December 8, 2028. In connection with the adoption of the Company&#8217;s compensation policy
in 2013, the 1998 Plan was amended to provide that options granted under the 1998 Plan will become exercisable based on the vesting schedule
determined in the approvals of the option grant.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
each of the years 2023, 2022 and 2021, the Company granted to directors options to purchase an aggregate amount of 4,616, 4,000 and 4,000
ordinary shares, respectively, under the 1998 Plan.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, options to purchase 19,365 ordinary shares are outstanding and 18,051 ordinary shares are available for future
grants under the 1998 Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
August 2000, the Company&#8217;s board of directors adopted the 2000 Stock Option Plan (the &#8220;2000 Plan&#8221;). The initial reserve
under the 2000 Plan was 200,000 ordinary shares underlying options that may be granted to officers, directors, employees and consultants
of the Company and its subsidiaries and this initial reserve was increased several times. The options usually vest over a three year
period. The exercise price of the options under the 2000 Plan is determined to be not less than 80% of the fair market value of the Company&#8217;s
ordinary shares at the time of grant, and they usually expire after 10 years from the date of grant. In June 2008 and June 2018, the
term of the 2000 Plan was extended by additional 10 year periods and the current expiration date of the 2000 Plan is August 31, 2028.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, options to purchase 34,645 ordinary shares are outstanding and 547,206 ordinary shares are available for future
grants under the 2000 Plan. Options that are cancelled or forfeited become available for future grant.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Changes
                                            during the year:</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table lists the number of share options, the weighted average exercise prices of share options during the current year:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 113.4pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 113.4pt 0pt 0.5in; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td>
    <td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td>
    <td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td>
    <td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td>
    <td style="font-weight: bold">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td>
    <td style="font-weight: bold">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td>
    <td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Average</td>
    <td style="font-weight: bold">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">average</td>
    <td style="font-weight: bold">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Average</td>
    <td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Number of</td>
    <td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Exercise</td>
    <td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Number of</td>
    <td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">exercise</td>
    <td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Number of</td>
    <td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Exercise</td>
    <td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
weighted average remaining contractual life for the share options outstanding as of December&#160;31, 2023 was 8.23 years (as of December&#160;31,
2022 was 8.40 years and as of December 31, 2021 was 9.38 years).</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for share-based payment arrangements.</p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583023008112">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Details of the Statements of Profit or Loss and Other Comprehensive Income (Loss)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

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</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">For
    the year ended December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">*2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Revenues from the sale of solar
    electricity</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">31,813</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">39,601</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">32,019</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Revenues from the sale
    of gas and power produced by anaerobic digestion plants</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">17,021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">12,640</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">12,686</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Total revenues</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">48,834</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">52,241</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">44,705</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Operating Costs, Depreciation and Amortization</b></span></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">For
    the year ended December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">*2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Depreciation from fixed assets</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">15,405</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">14,954</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,977</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Depreciation from right-of-use assets</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">607</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">626</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">664</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Professional services</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,549</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,232</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,465</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating and maintenance services</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">16,276</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,827</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">11,193</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">System operator charges</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,385</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">6,882</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,046</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Insurance</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">842</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">649</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">506</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Other</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">809</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">81</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,013</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Total operating costs</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">38,873</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">39,251</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">31,864</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>General and Administrative Expenses</b></span></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">For
    the year ended December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">*2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">*2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Salaries and related compensation</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,797</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,151</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,505</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Professional services</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,306</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,367</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,785</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Other</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,180</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,337</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,334</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Total general and administrative
    expenses</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,283</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,855</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,624</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financing
                                            Income and Expenses:</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financing income</span></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">For
    the year ended December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">*2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">*2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest income</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,015</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">402</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">266</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value of derivatives, net</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">251</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">605</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-216; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Profit from settlement of derivatives contract</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-217; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-218; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">407</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Gain from exchange rate
    differences, net</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">6,732</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">6,041</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-219; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Total financing income</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,998</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,048</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">673</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financing expenses</span></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    the year ended December 31</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value of derivatives, net</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,876</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,130</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,220</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest and commissions related to projects
    finance</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,825</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,852</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,313</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Amortization of capitalized expenses related
    to projects finance</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">252</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">246</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">12,180</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest on minority shareholder loan</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,014</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,529</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,055</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Bank charges and other commissions</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">247</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">471</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">137</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest on lease liability</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">341</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">296</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">294</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    differences, net</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-222; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-223; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,394</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Total financing expenses</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">12,555</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">10,524</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">28,434</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for details of the statements of profit or loss and other comprehensive income (loss).</p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583020335760">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Taxes on Income<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TaxesOnIncomeAbstract', window );"><strong>Taxes on Income [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIncomeTaxExplanatory', window );">Taxes on Income</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
19 - Taxes on Income </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Regional
                                            Taxation</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Israeli
taxation</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
tax rate that is relevant to the Company in the years 2021-2023: 23%.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Luxembourg
taxation</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration:underline">Net
wealth tax (NWT):</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The real NWT is calculated by the difference between the entity&#8217;s total assets and entity&#8217;s total liabilities (exemption can be applied) multiplied by 0.5% if the fortune is lower than &#8364;500 thousand.</span></td></tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr> </table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The minimum NWT is from &#8364;535 to &#8364;32,100.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Italian
taxation</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a rule, corporate income tax (IRES) is payable by all resident companies on income from any source, whether earned in Italy or abroad
(also for branch established in other country), at the rate of 24%.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Both
resident and non-resident companies are subject to regional income tax (IRAP), but only on income arising in Italy at the rate from 3.29%
(in 2024 the minimum rate will increase to 3.9%) to 4.82%, depending on the region.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Spanish
taxation</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a rule, corporate income tax is payable by all resident companies on income from any source, whether earned in Spain or abroad at the
rate of 25%. Commencing January 1, 2021, Spanish companies are allowed to deduct financing expenses in an amount up to 30% of their EBITDA
from one million in financial expenses and up to one million of financial expenses can be deducted in the CIT without having to apply
30% of EBITDA, with the remainder being carried forward to following years.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">The
Netherlands taxation</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2023, the Dutch corporate income tax rate was 19% on the first &#8364;200 thousand of taxable profits, and 25.8% on taxable profits exceeding
that amount. In 2022, 15% on the first &#8364;395 thousand of taxable profits and 25% on taxable profits exceeding that amount. In 2021,
15% on the first &#8364;245 thousand of taxable profits and 25% on taxable profits exceeding that amount.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Composition of income tax benefit (taxes on income):</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">For
    the year ended December 31</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">*2022</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">*2021</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Current tax expense</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Current
    year</span></td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(932</span></td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="width: 1%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,826</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="width: 1%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(977</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(932</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,826</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(977</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Deferred tax income</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Creation and reversal of temporary differences</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,655</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">174</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,513</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Adjustments for prior
    years, net</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">713</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-224; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-225; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,368</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">174</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,513</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Tax benefit (taxes on
    income)</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,436</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,652</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,536</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Reconciliation between the theoretical tax on the pre-tax profit and the tax expense:</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">*2022</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">*2021</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Profit
    (loss) before taxes on income</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">976</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,081</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(22,935</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Primary
    tax rate of the Company</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Tax
    benefit (tax expenses) calculated according to the Company&#8217;s primary tax rate</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(224</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(249</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,275</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Additional
    tax saving in respect of:</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Different
    tax rate of foreign subsidiaries</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(72</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(488</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(40</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Neutralization
    of tax calculated in respect of the Company&#8217;s share in profits of equity accounted investees</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">994</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">277</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">27</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Difference
    between measurement basis of income (expenses) for tax purposes and measurement basis of income (expenses) for financial reporting
    purposes</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(47</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(706</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-226; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Changes
    in deferred taxes for tax losses and benefits from previous years for which deferred taxes were not created in the past</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">713</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">282</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-227; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Utilization
    of tax losses and benefits from prior years for which deferred taxes were not created</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right">1,363</td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">566</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-228; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change
    in temporary differences for which deferred tax were not recognized</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">106</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-229; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">51</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Current
    year tax losses and benefits for which deferred taxes were not created</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,275</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,199</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(2,770</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Permanent
differences</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(122</td><td style="padding-right: 2.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(135</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(7</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Actual
    tax benefit (taxes on income)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,436</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,652</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,536</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified
due to discontinued operation - see Note 23.</span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Carry
                                            forward tax losses:</b></span></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, Ellomay Capital Ltd. had no available carry forward tax losses. Ellomay Capital Ltd. had carry forward capital
tax losses in the amount of approximately &#8364;1,361 thousand, which have no expiration date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
taxes of Ellomay Capital Ltd. have not been recognized because the Company&#8217;s management currently believes that as the Company
has a history of losses it is more likely than not that the deferred tax regarding losses carry forward will not be utilized in the foreseeable
future.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
taxes are recognized by operating subsidiaries for unused tax losses, tax benefits and deductible temporary differences, to the extent
that it is probable that future taxable profits will be available against which they can be utilized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2023, the Company&#8217;s Dutch subsidiaries had carry forward tax losses and deductions aggregating to approximately
&#8364;18,906 thousand. Of such carry forward tax losses, a deferred tax asset amounting to approximately &#8364;1,592 thousand was not
recorded.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>E.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Deferred taxes:</b></span></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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tax</span>deductions</td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; width: 40%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance
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    <td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,642</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,124</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,562</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16,740</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
    recognized in profit or loss</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">690</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">774</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-230; font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,594</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,058</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
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    <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">235</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-231; font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(16,589</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-232; font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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losses</p></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(569</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
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    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-238; font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,798</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes.</p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583020221888">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings Per Share<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EarningsPerShareAbstract', window );"><strong>Earnings Per Share [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EarningsPerShareExplanatory', window );">Earnings Per Share</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 20 - Earnings Per Share</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The calculation of basic earnings per
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average number of ordinary shares outstanding, calculated as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in">(1)</td><td style="text-align: justify">Net of treasury shares.</td></tr></table>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in">(2)</td><td style="text-align: justify">In 2023, 2022 and 2021 share options and warrants did not have a dilutive effect.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.85pt; text-align: justify; text-indent: -35.4pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2023 794 thousand options
and warrants (in 2022 and 2021: 779 thousand and 762 thousand, respectively) were excluded from the diluted weighted average number
of ordinary shares calculation as their effect would have been anti-dilutive.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The average market value of the Company&#8217;s
shares for purposes of calculating the dilutive effect of share options was based on quoted market prices for the period that the options
were outstanding.</p><span></span>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022833312">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Instruments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory', window );">Financial Instruments</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Note 21 - Financial Instruments</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Overview</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Compan<span style="font-family: Times New Roman, Times, Serif">y
has exposure to the following risks from its use of financial instruments:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Credit
                                            risk</span></td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Liquidity
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<p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

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<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Market
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">This
note presents quantitative and qualitative information about the Company&#8217;s exposure to each of the above risks, and the Company&#8217;s
objectives, policies and processes for measuring and managing risk.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">In
order to manage these risks a</span>nd as described hereunder, the Company executes transactions in derivative financial instruments.
Presented hereunder is the composition of the derivatives:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td style="padding-bottom: 1.5pt; text-align: justify">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the year ended December</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(33,183</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Financial power swap- electricity price swap fixed for float</td><td>&#160;</td>
    <td style="vertical-align: top; text-align: center">Electricity price in Spain</td><td>&#160;</td>
    <td style="vertical-align: top; text-align: center">Fixed price</td><td>&#160;</td>
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>B.</b></td><td style="text-align: justify"><b>Risk management framework</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company&#8217;s management and board
of directors have overall responsibility for the establishment and oversight of the Company&#8217;s risk management framework.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company&#8217;s risk management
policies are established to identify and analyze the risks faced by the Company, to set appropriate risk limits and controls, and to monitor
risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and
the Company&#8217;s activities. The Company, through its training and management of standards and procedures, aims to develop a disciplined
and constructive control environment in which all employees understand their roles and obligations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company&#8217;s Audit Committee
oversees how management monitors compliance with the Company&#8217;s risk management policies, procedures and reviews the adequacy of
the risk management framework in relation to the risks faced by the Company. The Company&#8217;s Audit Committee is assisted in its oversight
role by Internal Audit. Internal Audit undertakes both regular and ad hoc reviews of risk management controls and procedures, the results
of which are reported to the Audit Committee.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>C.</b></td><td style="text-align: justify"><b>Credit Risk</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As at December 31, 2023, the Company
does not have any significant concentration of credit risk.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="text-decoration:underline">Cash and short-term deposits</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As at December 31, 2023 and 2022, the
Company had cash and cash equivalents in the amount of &#8364;51,127 thousand and &#8364;46,458 thousand, respectively. The Company&#8217;s
cash and cash equivalents are deposited with financial institutions that received a credit rating (international rating scale). See also
Note 4.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="text-decoration:underline">Restricted cash</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As at December 31, 2023 and 2022, the
Company had a balance of current restricted cash in an amount of &#8364;810 thousand and &#8364;900 thousand, respectively, and a balance
of non-current restricted cash of &#8364;17,386 thousand and &#8364;20,192 thousand, respectively. See also Note 5.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="text-decoration:underline">Trade and other receivables</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">As at December 31, 2023 and 2022, the
Company had a balance of trade receivables of &#8364;205 thousand and &#8364;420 thousand, respectively. This balance mainly refers to the
sale of green certificates from the activity in the Netherland due within 30 days from issuance. In 2022, the balance mostly referred
to sale of electricity to the IEC for the PV Plant located in Israel and is due in 30 days. This balance is classified as assets of disposal
groups held for sale in 2023.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As at December 31, 2023 and 2022, the
Company had a balance of revenue receivables of &#8364;1,013 thousand and &#8364;1,062 thousand, respectively. This balance refers to amounts
to be paid mainly from the facilities in the Netherlands. The revenue receivables are from gas sold in market price in the Netherlands
due within 60 days and the sale of green certificates within 60 days.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company&#8217;s management closely
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significant credit risks assigned to the trade receivables and income receivables as these amounts are due by governmental agencies or
by established companies that pay on a weekly or monthly basis.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As at December 31, 2023 and 2022, the
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balance refers to VAT receivables in Spain, Italy, Israel and the Netherlands.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Liquidity risk is the risk that the
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cash or another financial asset. The Company&#8217;s approach to managing liquidity is to ensure, as far as possible, that it will always
have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable
losses or risking damage to the Company&#8217;s reputation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As of December 31, 2023, the Company
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The cash surpluses held by Company that
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These investment channels are chosen by the Company&#8217; managements based on future forecasts of the cash the Company will require
in order to meet their liabilities. Cash flow forecasts are determined on both an individual company basis and a consolidated basis. The
Company examines current forecasts of its liquidity requirements so as to make certain that there is sufficient cash for its operating
needs, and it is careful at all times to have enough unused credit facilities so that the Company does not exceed its credit limits and
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company has contractual commitments
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The following are the contractual maturities
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This disclosure excludes the impact of netting agreements:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="margin: 0"></p>

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  <tr style="vertical-align: bottom">
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<td style="width: 0.5in"></td><td style="width: 0.5in"><b>E.</b></td><td style="text-align: justify"><b>Market risk</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Market risk is the risk that changes
in market prices will affect the Company&#8217;s income or the value of its holdings of financial instruments. The objective of market
risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The principal risks that the Company
faces, as assessed by management, are as follows: a change in the regulation applicable to the area of activity, a change in the electricity
prices or the tariffs as approved by the relevant electricity authorities in the countries in which the Company operates, changes in the
situation of the electricity and gas market, political and security events.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Company uses hedging instruments
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are OTC derivatives, i.e., derivative contracts that are not transacted on an exchange. These derivatives are entered into under ISDA
Master Agreements. If counterparty defaults on these contracts, the underlying exposure would no longer be effectively hedged, which could
result in losses. Disruptions such as market crises and economic recessions may put a strain on the availability and effectiveness of
hedging instruments. For example, although the Company estimates the expected transition away from Euribor, as addressed by the Amendments
to IAS 39, Financial Instruments, Interest Rate Benchmark Reform &#8211; Phase 2, not to have a material effect on the Company,&#8217;s
financial statements, similar benchmark rates may have a different impact on the hedged item and the hedging instrument, which could cause
some of the Company hedge to become ineffective, resulting in potential losses.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>(1)</b></td><td style="text-align: justify"><b>Foreign currency risk</b></td></tr></table>

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balance sheet and profit and loss.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

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PV Plants and projects under development are denominated in Euro, its holdings in projects under development in the US are denominated
in USD and its holdings in its Israeli PV Plant, projects under development and indirect holdings in Dorad are denominated in NIS. The
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-258">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">898</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-263">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-264">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">407,982</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-266">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-267">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-268">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">407,982</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">30,967</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-269">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-270">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-271">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-272">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">3,558</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-273">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">13,828</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Deferred tax</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">8,677</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-274">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-275">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-276">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">8,677</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Long term receivables</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">9,350</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-277">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-278">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">10,446</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Derivatives</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-279">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-280">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-281">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">10,948</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">10,948</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">Current liabilities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Current maturities of long-term bank loans</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-282">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-283">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-284">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Current maturities of long-term loans</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-286">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Current maturities of debentures</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-289">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-290">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">2,836</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">900</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">900</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">1,799</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-323">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,799</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">2,174</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">16</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">5,798</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">12,682</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">23,976</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">6,053</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-325">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">30,029</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">2,328</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-326">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-327">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-328">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,328</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Receivable from concession project</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-329">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">24,795</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-330">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-331">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">24,795</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">365,756</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-332">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-333">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-334">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">365,756</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Right-of-use asset</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">30,020</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-335">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-336">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-337">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">30,020</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">4,094</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-338">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-339">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-340">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">4,094</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Restricted cash and deposits</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-341">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">5,607</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-342">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">14,585</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">20,192</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Deferred tax</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">23,510</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-343">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-344">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-345">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">23,510</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Long term receivables</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">7,840</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,171</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-346">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">259</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">9,270</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Derivatives</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-347">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-348">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-349">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,488</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,488</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Current liabilities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Current maturities of long-term bank loans</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-350">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(2,091</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-351">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(10,724</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(12,815</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Current maturities of long-term loans</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-352">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-353">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-354">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(10,000</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(10,000</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Current maturities of debentures</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-355">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(18,714</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-356">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-357">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(18,714</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Trade payables</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-358">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(123</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-359">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(4,381</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(4,504</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Other payables</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-360">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(6,107</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-361">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(5,100</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(11,207</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Current maturities of derivatives</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-362">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-363">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-364">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(33,183</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(33,183</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Current maturities of lease liabilities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-365">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(193</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-366">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(552</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(745</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Non-current liabilities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left">(*)</td><td style="text-align: justify">Including items linked to the Israeli CPI</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Information regarding significant exchange
rates:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">For the year ended December 31</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Rate of</td><td style="font-weight: bold">&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">1 Euro in 2022</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(5.8</td><td style="text-align: left">)</td><td>&#160;</td>
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  </table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>(b)</b></td><td style="text-align: justify"><b>Sensitivity analysis</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A change as at December 31 in the exchange
rates of the following euro against the USD and euro against the NIS, as indicated below would have increased (decreased) equity by the
amounts shown below (after tax). This analysis is based on foreign currency exchange rate that the Company considered to be reasonably
possible at the end of the reporting period. The analysis assumes that all other variables, in particular interest rates, remain constant.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Increase</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Equity</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: justify">5% in the USD</td><td style="width: 1%; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Equity</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company is exposed to changes in
fair value, as a result of changes in interest rate in connection with its loans and borrowings. The debt instruments of the Company bear
interest at variable rates.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company entered into various project
finance agreements that are based on EURIBOR rate and on the Bank of Israel interest rate and therefore it may be affected by adverse
movements in interest rates. <span style="font-family: Times New Roman, Times, Serif">The Company utilizes interest rate swap derivatives
to convert certain floating-rate debt to fixed-rate debt. The Company&#8217;s interest rate swap derivatives involve an agreement to pay
a fixed-rate interest and receive a floating-rate interest, at specified intervals, calculated on an agreed notional amount that matches
the amount of the original loan and paid on the same installments and maturity dates. </span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>Sensitivity analysis</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">A change in interest rate would have
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>(3)</b></td><td style="text-align: justify"><b>Electricity market prices risk</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As a result of the Company&#8217;s operations
in the electricity market, the Company is exposed to the impact of changes in electricity prices.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In order to manage its exposure to changes
in the electricity prices, in June 2018, Talasol executed the Talasol PPA. The power produced by the Talasol PV Plant is expected to be
sold by Talasol in the open market for the then current market power price and the Talasol PPA is expected to hedge the risks associated
with fluctuating electricity market prices by allowing Talasol to secure approximately 80% of its income for the power production included
under the Talasol PPA. The hedge transaction becomes effective on Talasol requesting that the counter party fix the fixed price pursuant
to the price adjustment mechanism. The Talasol PPA became effective in March 2019 and its accounting treatment is according to cash flow
hedge.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The fair value of the Talasol PPA is
measured by discounting the future fixed and assessed cash flows, over the period of the contract and using market interest rates appropriate
for similar instruments. The value is adjusted for the parties&#8217; credit risks. The valuation technique for assessing electricity
future prices projections takes into consideration unobservable market data and complex pricing models.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In 2021, Talasol deposited &#8364;10
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year, up to a minimum amount of &#8364;3.5 million, which will be released at the expiration of the PPA.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>F.</b></td><td style="text-align: justify"><b>Fair value</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>(1)</b></td><td style="text-align: justify"><b>Fair values versus carrying amounts</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The carrying amounts of certain financial
assets and liabilities, including cash and cash equivalents, other accounts receivables, pledged deposits, financial derivatives credit
from banks and trade payables and other accounts payables are the same or proximate to their fair value.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The fair values of the other financial
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center">&#160;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">fair value</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> fair value</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center">&#160;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">384,291</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">102,957</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">217,073</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>(2)</b></td><td style="text-align: justify"><b>Interest rates used for determining fair value</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The interest rates used to discount
estimated cash flows, when applicable, are based on the government yield curve at the reporting date plus an adequate credit spread, and
were as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="vertical-align: top; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="vertical-align: top; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; vertical-align: top; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; vertical-align: top; font-weight: bold; text-align: center">2022</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="vertical-align: top; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="vertical-align: top; font-weight: bold; text-align: left">Non-current liabilities:</td><td>&#160;</td>
    <td style="vertical-align: top; text-align: left">&#160;</td><td>&#160;</td>
    <td style="vertical-align: top; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="vertical-align: top; width: 22%; text-align: left">Loans from banks</td><td style="width: 1%; font-weight: bold">&#160;</td>
    <td style="vertical-align: top; width: 38%; font-weight: bold; text-align: left">Discount rate of Euribor+ 2% with a zero floor</td><td style="width: 1%">&#160;</td>
    <td style="vertical-align: top; width: 38%; text-align: left">Discount rate of Euribor+ 2% with a zero floor</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="vertical-align: top; text-align: left">Loans from banks</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: left">Loans from banks</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="vertical-align: top; text-align: left">Floating interest rate based on the Bank of Israel Rate plus a spread of 4.35%.</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="vertical-align: top; text-align: left">Euribor+ 5.27%</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="vertical-align: top; font-weight: bold; text-align: left">7% Linkage to Consumer price index in Israel and fixed rate of 5.5%</td><td>&#160;</td>
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  </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>(3)</b></td><td style="text-align: justify"><b>Fair values hierarchy</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The financial instruments presented
at fair value are grouped into classes with similar characteristics using the following fair value hierarchy which is determined based
on the source of data used in the measurement:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.5in">&#160;</td>
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  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="padding-left: 7.1pt; text-align: right">&#160;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&#160;</td>
    <td style="padding-right: 1.4pt; padding-left: 1.4pt; text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="padding-left: 7.1pt; text-align: right">Level 2</td>
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  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="padding-left: 7.1pt; text-align: right">&#160;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&#160;</td>
    <td style="padding-right: 1.4pt; padding-left: 1.4pt; text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="padding-left: 7.1pt; text-align: right">Level 3</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">-</td>
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="17" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="vertical-align: top; font-weight: bold; text-align: center">Valuation techniques for</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="17" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2022</td></tr>
  <tr style="vertical-align: bottom">
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(4)</b></td><td style="text-align: justify"><b>Level 3 financial instruments carried at fair value</b></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The table hereunder presents reconciliation
from the beginning balance to the ending balance of financial instruments carried at fair value in level 3 of the fair value hierarchy:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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assets</b></span></td><td style="padding-bottom: 1.5pt">&#160;</td></tr>
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    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td></tr>

  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td>&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">49,679</td><td style="text-align: left">*</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(90,322</td><td style="padding-bottom: 1.5pt; text-align: left">)*</td></tr>

<tr style="vertical-align: bottom">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Balance as at December 31, 2022</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(61,537</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Total income recognized in profit or loss</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">13,777</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Total income recognized in other comprehensive income</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">53,548</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Balance as at December 31, 2023</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">5,698</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for financial instruments.</p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022871328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Operating Segments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsAbstract', window );"><strong>Operating Segments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory', window );">Operating Segments</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: White"><b>Note
22 - Operating Segments </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: White"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="background-color: White">The
C<span style="font-family: Times New Roman, Times, Serif">om</span></span><span style="font-family: Times New Roman, Times, Serif">pany&#8217;s
reportable segments, which form the Company&#8217;s strategic business units, are described below:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify">PV Plants &#8211; Operation of installations that convert the energy
in sunlight into electrical <span style="background-color: white">energy</span> as follows:</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">(i)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">approximately&#160;7.9MWp
                                            aggregate installed capacity of photovoltaic power plants in Spain,</span></td></tr>
                                                                                                                                </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">(ii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Ellomay
                                            Solar S.L.U, a photovoltaic plant with a peak capacity of 28 MW in the municipality of Talav&#225;n,
                                            C&#225;ceres, Spain, that was connected to the electricity grid at June 24, 2022</span></td></tr>
                                                                                                                                               </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">(iii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">51% of Talasol, with a peak capacity of 300 MW in the municipality of Talav&#225;n, C&#225;ceres, Spain,</span></td></tr> </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">(iv)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">a
                                            photovoltaic power plant of approximately 9 MWp installed capacity in Israel</span></td></tr>
                                                                                                                                         </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">(v)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Ellomay
                                            Solar Italy One SRL and Ellomay Solar Italy Two SRL that are constructing photovoltaic plants
                                            with installed capacity of 14.8 MW and 4.95 MW respectively, in the Lazio Region, Italy,</span></td></tr>
                                                                                                                                                     </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">(vi)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Ellomay
                                            Solar Italy Four SRL, Ellomay Solar Italy Five SRL, Ellomay Solar Italy Seven SRL, Ellomay
                                            Solar Italy Nine SRL and Ellomay Solar Italy Ten SRL that are developing photovoltaic projects
                                            with installed capacity of 15.06 MW, 87.2 MW, 54.77 MW, 8 MW and 18 MW, respectively, in
                                            Italy that have reached &#8220;ready to build&#8221; status and </span></td></tr>
                                                                                                                             </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">(vii)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="background-color: white">Fairfield Solar Project, LLC,
Malakoff Solar I, LLC, Malakoff Solar II, LLC, Mexia Solar I, LLC, Mexia Solar II, LLC, and Talco Solar, LLC, that are developing photovoltaic
projects with installed capacity of 13.44 MW, 6.96 MW, 6.96 MW, 5.6 MW, 5.6 MW and 10.3 MW, respectively, in the Dallas Metropolitan area,
Texas, that have reached &#8220;ready to build&#8221; status.</span></span></td></tr>
                                                                                                                                             </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V. (BioGas), project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million Nm3 per year, respectively.</span></td></tr> </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Dorad Energy Ltd. (Dorad) &#8211; 9.375% indirect interest in Dorad, which owns and operates a combined cycle power plant based on natural gas, with production capacity of approximately 860 MW, located south of Ashkelon, Israel.</span></td></tr> </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Pumped storage hydro power plant (Manara) &#8211; 83.333% indirect interest in a company constructing a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif"><b>Factors
that management used to identify the Company&#8217;s reportable segments</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The
Company&#8217;s strategic business units offer different products, and the allocation of resources and evaluation of performance is managed
separately because they require different technology.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">For
each of the strategic business units, the Company&#8217;s chief operating decision maker (&#8220;CODM&#8221;) reviews internal management
reports on at least a quarterly basis. The following summary describes the operations in each of the Company&#8217;s operating segments.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The
Company presented the photovoltaic power plants per geographical areas, as the information collected and analyzed by the CODM in connection
with the PV Plants is presented based on the physical location of the PV Plant. The CODM reviews the NIS denominated information on Dorad
and the PV Plant located in Israel and the information presented in the tables below is translated into euro. The CODM reviews the results
of Dorad according to the Company&#8217;s share in Dorad. In the reports analyzed by the CODM, the PV Plant located in Israel is presented
under the fixed asset model and not under the financial asset model as per IFRIC 12, please see the adjusted gross profit calculation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Performance
is measured based on segment adjusted gross profit as included in reports that are regularly reviewed by the chief operating decision
maker. Segment adjusted gross profit is used to measure performance as management believes that such information is the most relevant
in evaluating the results of certain segments relative to other entities that operate within these industries.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Bio
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    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Dorad</span></td><td style="font-size: 8pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Manara</span></td><td style="font-size: 8pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Total
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    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-size: 8pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Total</span></td><td style="font-size: 8pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Reconciliations</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="border-left: Black 1.5pt solid; font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid; font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid; font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ellomay
    Solar</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Talasol</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><p style="font-family: Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Israel
                                            <b>(Discontinued</b></span></p></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Bio
    Gas</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Dorad</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Manara</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Total
    reportable</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Total</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Italy</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Spain</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Spain</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Spain</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>operation)</b></span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Netherland</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Israel</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Israel</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">segments</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Reconciliations</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">consolidated</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="46" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">For
    the year ended December 31, 2022</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="46" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#8364;
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(9,242</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">12,990</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(10,618</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">12,990</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">605</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(10,524</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td></tr>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td colspan="2" style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td colspan="2" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; width: 16.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Revenues</span></td><td style="width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-420; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">2,587</span></td><td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-421; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">29,432</span></td><td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,016</span></td><td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">12,686</span></td><td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">51,630</span></td><td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-422; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="border-left: Black 1.5pt solid; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">97,351</span></td><td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(52,646</span></td><td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td><td style="width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">44,705</span></td><td style="width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(2,508</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(5,624</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Share
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    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">4,826</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Financing
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">673</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Financing
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(841</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Financing
    expenses, net</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="border-left: Black 1.5pt solid; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(27,593</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">The Company is domiciled in Israel
and it operates in Israel, Spain, Italy and USA through its subsidiaries that promote, develop and own PV Plants, in the Netherlands
through its subsidiaries that own anaerobic digestion plants and also in Israel through Ellomay Luzon Energy.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">The following table lists the revenues
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">The
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">251,574</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">20,363</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">25,871</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">26,749</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">499,451</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">486,484</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr>
  </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left">(*)</td><td style="text-align: justify">Other than financial instruments, deferred tax assets and
employee benefit assets.</td>
</tr></table><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for operating segments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;doctype=Standard&amp;dita_xref=IFRS08_g20-24_TI<br> -URIDate 2023-03-23<br></p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583033842560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Discontinued operation and Disposal Groups Held for Sale<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DiscontinuedOperationAndDisposalGroupsHeldForSaleAbstract', window );"><strong>Discontinued operation and Disposal Groups Held for Sale [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory', window );">Discontinued operation and Disposal Groups Held for Sale</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b>Note
23 - </b></span><b>Discontinued operation and Disposal Groups Held for Sale</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 7pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">On December 31, 2023, the Company executed
an agreement to sell its holdings in the Talmei Yosef PV Plant (the &#8220;Talmei Agreement&#8221;), the entire Israel segment.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">The Talmei Agreement provides for the
sale of the Company&#8217;s holdings in the Talmei Yosef PV Plant to Greenlight Fund Limited Partnership and Doral Group Renewable Energy
Resources Ltd., in equal parts, in consideration for NIS 44.75 million (approximately &#8364;11.2 million), with an additional potential
payment of up to NIS 4 million (approximately &#8364;1 million) in the event the Talmei Yosef PV Plant will produce more than 18 million
Kwh during 2024. The Agreement further provides for a cutoff date of June 30, 2023, and at closing the parties will determine whether
an adjustment to the purchase price is required reflect the Company&#8217;s entitlement to revenues (net of expenses) up to such date,
taking into account the results and the cash held by the project company. The Company does not expect a material adjustment to the purchase
price.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">The Talmei Agreement includes customary
representations and indemnification undertakings in connection with breaches of representations, which, other than with respect to customary
exceptions, are subject to a cap of NIS 9 million (approximately &#8364;2.2 million) and limited to a period of 18 months from the closing
date. The consummation of the sale is subject to various customary conditions to closing, including receipt of regulatory approvals and
the consent of the financing entity of the Talmei Yosef PV Plant. All conditions to closing are required to be fulfilled within a period
of 90 days from execution of the Talmei Agreement, which can be extended to up to 150 days under certain circumstances. On April 2, 2024,
an addendum to the Talmei Agreement was executed, providing for a 45-day extension of the deadline for fulfillment of the conditions to
closing and therefore setting the deadline for May 15, 2024. The Talmei Yosef PV Plant is located in southern Israel. One of the conditions
to closing is the end of the war in southern Israel for a pre-determined period (based on the official definitions published by the Israeli
Authorities) and that the Talmei Yosef PV Plant is physically accessible. Based on the circumstances as of the date hereof, this condition
is currently fulfilled. The closing of the sale is currently expected during the second quarter of 2024. In addition, the Talmei Agreement
provides that in the event that due to the current war and hostilities in Israel the facility will be damaged or its output will decrease,
the buyers will have the right not to consummate the acquisition of the plant.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">In connection with the expected sale
of the Talmei Yosef PV Plant, the Company presents the results of the Talmei Yosef PV Plant as a discontinued operation. The assets and
liabilities of the Talmei Yosef PV Plant were presented as held for sale.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">The segment was not a discontinued operation or classified as held for sale as at December 31, 2022 and the comparative income statement
for 2022 and 2021 has been restated to show the discontinued operation separately from continuing operations. Management committed to
a plan to sell this segment at the end of 2023 following the signature of the agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">As at December 31, 2023, the disposal
groups comprised assets of &#8364;28,297 thousand less liabilities of &#8364;17,142 thousand.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>A.</b></td><td style="text-align: justify"><b>Impairment
                                            losses and reversal of impairment loss</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify">An impairment loss of &#8364;2,565 thousand
on the re-measurement of the disposal group to the lower of its carrying amount and its fair value based on Talmei Agreement, based on
Talmei Agreement, less costs to sell has been recognized in the statement of income.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>B.</b></td><td style="text-align: justify"><b>Assets and
                                            liabilities of disposal groups held for sale</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>Assets of disposal
groups classified as held for sale</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 7pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold">&#160;</td>
    <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">December 31</td><td style="white-space: nowrap; text-align: center; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap; text-align: center">&#160;</td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">&#8364; in thousands</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 88%; text-align: left">Cash and cash equivalents</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">428</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Short-term deposits</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">12</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Receivable from concession project</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">23,426</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Trade and other receivables</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">587</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Right-of-use asset</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,204</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Intangible asset</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">917</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Restricted cash and deposits</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,694</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Total</td><td>&#160;</td>
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  </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 5pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>Liabilities
of disposal groups classified as held for sale</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 5pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="text-align: center; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 88%; text-align: left">Trade payables</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">39</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Other payables</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">18</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Lease liability</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,321</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Long-term bank loans including current maturities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">13,047</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>D.</b></td><td style="text-align: justify"><b>Results attributable to discontinued operation</b></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 7pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
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    <td style="text-align: justify"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td></tr>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="font-size: 1pt; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="font-size: 1pt; text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="font-size: 1pt; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="font-size: 1pt"><span style="font-size: 8pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's material accounting policy information for non-current assets or disposal groups classified as held for sale and discontinued operations. [Refer: Discontinued operations [member]; Non-current assets or disposal groups classified as held for sale]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022871328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EventsAfterReportingPeriodAbstract', window );"><strong>Subsequent Events [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory', window );">Subsequent Events</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 24 - Subsequent Events</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 7pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0in">On January <span style="font-family: Times New Roman, Times, Serif">16,
2024</span>, the Company issued in an Israeli public offering units consisting of an aggregate principal amount of NIS 170 million (approximately
&#8364;41 million, as of the issuance date) of the Series F Debentures, due March 31, 2030 and Series 2 Options to purchase an aggregate
of 1,020,000 ordinary shares at a price per share of NIS 80 (subject to customary adjustments), which expire on January 5, 2028. The
net proceeds of the offering, net of related expenses such as consultancy fee and commissions, were approximately NIS 165 million (approximately
&#8364;40 million as of the issuance date). The Deed of Trust governing the Series F Secured Debentures includes requirement that the
Company meet certain financial covenants and restrictions on the Company&#8217;s ability to pay dividends and additional customary provisions.
The principal amount of Series F Debentures is repayable in four non-equal installment on
March 31 in each of the years 2027 to 2030 (inclusive) as follows: in each of the principal payments in the years 2027 and 2028 a rate
of 30% of the principal will be paid, in the principal payment in the year 2029 a rate of 25% of the principal will be paid and in the
principal payment in the year 2030 a rate of 15% of the principal will be paid. The Series F Debentures bear a fixed annual interest
at the rate of 5.5% (that is not linked to the Israeli CPI or otherwise), payable semi-annually on March 31 and September 30, commencing
March 31, 2024 through March 31, 2030 (inclusive).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 7pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0in">On April 17,
2024, the Company issued NIS 40 million par
value of its unsecured non-convertible Series F Debentures, in a private placement to Israeli classified investors for an aggregate
gross consideration of approximately NIS 37.8 million, reflecting a price of NIS 0.946 per NIS 1 principal amount Series F Debentures. Following completion of the private placement, the aggregate outstanding par value of the Company&#8217;s
Series F Debentures is NIS 210 million.</p><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for events after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 10<br> -IssueDate 2023-01-01<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=10&amp;code=ifrs-tx-2023-en-r&amp;doctype=Standard&amp;dita_xref=IAS10_g17-22_TI<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583020031808">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Policies, by Policy (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements', window );">Basis of consolidation and equity method accounting</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>A.</b></td><td style="text-align: justify"><b>Basis of consolidation and equity method accounting </b></td></tr></table><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(1)</b></td><td style="text-align: justify"><b>Subsidiaries</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Subsidiaries are entities controlled
by the Company. Control exists when the Company is exposed, or has rights, to variable returns from its involvement with the acquiree
and it has the ability to affect those returns through its power over the acquiree. Substantive rights held by the Company and others
are taken into account when assessing control. The financial statements of subsidiaries are included in the consolidated financial statements
from the date that control commences until the date that control is lost.</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(2)</b></td><td style="text-align: justify"><b>Non-controlling interests</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Non-controlling interests comprise the
equity of a subsidiary that cannot be attributed, directly or indirectly, to the parent company and they include additional components
such as Issuance of capital note only to the non-controlling interest and share options of subsidiaries.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Allocation of profit or loss and other
comprehensive income to the shareholders</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Profit or loss and any part of other
comprehensive income are allocated to the owners of the Company and the non-controlling interests. Total comprehensive income is allocated
to the owners of the Company and the non-controlling interests even if the result is a negative balance of non-controlling interests.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-decoration:underline">Transactions with non-controlling
interests, while retaining control</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Transactions with non-controlling interests
while retaining control are accounted for as equity transactions. Any difference between the consideration paid or received and the change
in non-controlling interests is included in the owners&#8217; share in equity of the Company directly in Transaction reserve with non-controlling
interests.</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(3)</b></td><td style="text-align: justify"><b>Investment in associates and joint ventures (equity accounted
investees)</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Associates are those entities in which
the Company has significant influence, but not control or joint control, over the financial and operating policies. There is a rebuttable
presumption that significant influence exists when the Company holds between 20% and 50% of another entity. Joint ventures are joint
arrangements in which the Company has rights to the net assets of the arrangement.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Associates and joint ventures are accounted
for using the equity method (equity accounted investees) and are recognized initially at cost. The cost of the investment includes transaction
costs that are directly attributable to an expected acquisition of an associate or joint venture. The consolidated financial statements
include the Company&#8217;s share of the income and expenses in profit or loss and of other comprehensive income of equity accounted
investees, after adjustments to align the accounting policies with those of the Company, from the date that significant influence commences
until the date that significant influence ceases.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Long-term interests in associates and
joint ventures that, in substance, form part of the net investment in the associate or joint venture, such as preferred shares and long-term
loans that their repayment is not expected and is unlikely to occur in the foreseeable future, are first accounted for in accordance
with the guidance of IFRS 9 and then the equity method is applied in accordance with the guidance of IAS 28.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory', window );">Foreign currency</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><b>B.</b></td><td style="text-align: justify"><b>Foreign currency</b></td></tr></table><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(1)</b></td><td style="text-align: justify"><b>Foreign currency transactions</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Transactions in foreign currencies are
translated to the respective functional currencies of the Company at exchange rates at the dates of the transactions. Monetary assets
and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency at the exchange rate
at that date. The foreign currency gain or loss on monetary items is the difference between amortized cost in the functional currency
at the beginning of the year, adjusted for effective interest and payments during the year, and the amortized cost in foreign currency
translated at the exchange rate at the end of the year.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Non-monetary assets and liabilities denominated
in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date that
the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated
using the exchange rate at the date of the transaction.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Foreign currency differences arising
on translation are generally recognized in profit or loss, except for qualifying cash flow hedges to the extent the hedge is effective,
which are recognized in other comprehensive income.</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(2)</b></td><td style="text-align: justify"><b>Foreign operations</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The assets and liabilities of foreign
operations, including adjustments arising on consolidation, are translated at exchange rates at the reporting date. The income and expenses
for each period presented in the statement of profit or loss and other comprehensive income (loss) are translated at average exchange
rates for the presented periods; however, if exchange rates fluctuate significantly, income and expenses are translated at the exchange
rates at the date of the transactions.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Foreign currency exchange differences
are recognized in equity as a separate component of other comprehensive income (loss): &#8220;foreign currency translation adjustments&#8221;.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">When the foreign operation is a non-wholly-owned
subsidiary of the Company, then the relevant proportionate share of the foreign operation translation difference is allocated to the
non-controlling interests.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Foreign exchange gains and losses arising
from a monetary item receivable from, or payable to, a foreign operation, the settlement of which is neither planned nor likely in the
foreseeable future, are considered to form part of a net investment in a foreign operation and are recognized in other comprehensive
income (loss) and are presented within equity as part of the translation reserve.</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(3)</b></td><td style="text-align: justify"><b>Presentation Currency</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">For the convenience of the reader, the
reported euro figures as of December 31, 2023 and for the year then ended, are also presented in dollars, translated at the representative
rate of exchange as of December 31, 2023 (euro 1.106 = US$ 1.00). The dollar amounts presented in these financial statements should not
be construed as representing amounts that are receivable or payable in dollars or convertible into dollars, unless otherwise indicated.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory', window );">Financial instruments</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>C.</b></td><td style="text-align: justify"><b>Financial instruments</b></td>
</tr></table><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(1)</b></td><td style="text-align: justify"><b>Trade accounts receivables, services concession receivables
and other receivables</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company initially recognizes receivables
on the date that they are created. Receivables without a significant financing component are initially measured at the transaction price
and subsequently measured at amortized cost, using the effective interest method. The amortized cost is reduced by impairment losses.
Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss.</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(2)</b></td><td style="text-align: justify"><b>Non-derivative financial liabilities</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company&#8217;s financial liabilities
include loans and borrowings, trade payables, other payables, finance lease obligations, debentures, long-term loans and other long-term
liabilities.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company initially recognizes debt
securities issued on the date that they originated. All other financial liabilities are recognized initially on the trade date at which
the Company becomes a party to the contractual provisions of the instrument.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Financial liabilities are recognized
initially at fair value less any directly attributable transaction costs. Subsequent to initial recognition, these financial liabilities
are measured at amortized cost using the effective interest method.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Financial liabilities are derecognized
when the obligation of the Company, as specified in the agreement, expires or when it is discharged or cancelled.</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(3)</b></td><td style="text-align: justify"><b>Derivative financial instruments, including hedge accounting</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company holds both derivative financial
instruments to hedge its interest rate risk exposures and fluctuating electricity prices risk exposures and derivatives that do not serve
hedging purposes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><b><i>Hedge
accounting </i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company designates certain derivatives
as hedging instruments in order to hedge changes in cash flows that relate to highly probable forecasted transactions and which derive
from changes in fluctuation in the electricity prices and changes in interest on variable-rate loans. The Company continues to apply
IAS 39 for the hedge accounting.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company makes an assessment, both
at the inception of the hedge relationship as well as on an ongoing basis, as to whether the hedging instruments are expected to be &#8220;highly
effective&#8221; in offsetting the changes in the fair value or cash flows of the respective hedged items during the period for which
the hedge is designated, and whether the actual results of each hedge are within a range of 80-125 percent.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><b><i>Measurement
of derivative financial instruments</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Derivatives are recognized initially
at fair value and attributable transaction costs are recognized in profit or loss as incurred. Subsequent to initial recognition, derivatives
are measured at fair value, and changes therein are accounted for as described below.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><b><i>Cash flow
hedges</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">When a derivative instrument is designated
as a cash flow hedge, the effective portion of the changes in fair value of the derivative is recognized in other comprehensive income,
directly within a hedging reserve. The effective portion of changes in fair value of a derivative, recognized in other comprehensive
income, is limited to the cumulative change in fair value of the hedged item (based on present value), from inception of the hedge. The
change in fair value in respect of the ineffective portion is recognized immediately in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">If the hedge no longer qualifies as an
accounting hedge, or the hedging instrument is sold, expires, is terminated or exercised, hedge accounting is discontinued on a prospective
basis. When hedge accounting is discontinued, the amounts accumulated in the past in the hedging reserve and cost of hedging reserve
remain in the reserve, until such time as they are included in the initial cost of the non-financial item (for hedged transactions whose
result is a non-financial item), or until such time as they are reclassified to profit or loss in the period, or periods, in which the
hedged forecasted future cash flows affect profit or loss (for other cash flows hedges).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><b><i>Economic
hedges</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Hedge accounting is not applied to derivative
instruments that economically hedge financial assets and liabilities denominated in foreign currencies. Changes in the fair value of
such derivatives are recognized in profit or loss under financing income or expenses.</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(4)</b></td><td style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"><b>Interest Rate Benchmark Reform</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">When the basis for determining the contractual
cash flows of a financial asset or financial liability measured at amortized cost changes as a result of interest rate benchmark reform,
the Company updates the effective interest rate of the financial asset or financial liability to reflect the change required by the reform.
When changes are made to a financial asset or financial liability in addition to changes to the basis for determining the contractual
cash flows required by interest rate benchmark reform, in addition to adjusting the effective interest rate as a result of the reform
the Company applies on accounting for substantial modifications in terms of debt instruments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>(5)</b></td><td style="text-align: justify"><b>CPI-linked assets and liabilities that are not measured
at fair value</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The value of CPI-linked financial assets
and liabilities, which are not measured at fair value, is re-measured every period in accordance with the actual increase/decrease in
the CPI.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory', window );">Fixed assets</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>D.</b></td><td style="text-align: justify"><b>Fixed assets</b></td>
</tr></table><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left">(1)</td><td style="text-align: justify"><i>Recognition and measurement</i></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Fixed assets items are measured at cost
less accumulated depreciation. Cost includes expenditures that are directly attributable to the acquisition of the fixed asset. The cost
of self-constructed assets includes the cost of materials and direct labor, any other costs directly attributable to bringing the assets
to a working condition for their intended use, an estimate of the costs of dismantling and removing the items and restoring the site
on which they are located, and capitalized borrowing costs (mainly specific). Project licenses are included in the cost of photovoltaic
plants.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The costs of replacing part of a fixed
asset item and other subsequent expenses are capitalized if it is probable that the future economic benefits associated with them will
flow to the Company and their cost can be measured reliably. The carrying amount of the replaced part of a fixed asset item is derecognized.
The costs of day-to-day servicing are recognized in profit or loss as incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Gains and losses on disposal of a fixed
asset item are determined by comparing the net proceeds from disposal with the carrying amount of the asset, and are recognized in profit
or loss.</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left">(2)</td><td style="text-align: justify"><i>Depreciation</i></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Depreciation is a systematic allocation
of the depreciable amount of an asset over its useful life. The depreciable amount is the cost of the asset, or other amount substituted
for cost, less its residual value. An asset is depreciated from the date it is ready for use, meaning the date it reaches the location
and condition required for it to operate in the manner intended by management. Depreciation is recognized in profit or loss on a straight-line
basis over the estimated useful lives of each part of the fixed asset item.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The estimated useful lives are as follows:</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">% per annum</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Mainly % <br/>
per annum</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 50%; text-align: left">Office furniture and equipment</td><td style="width: 1%">&#160;</td>
    <td style="width: 24%; text-align: center">6-33</td><td style="width: 1%">&#160;</td>
    <td style="width: 24%; text-align: center">33</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Photovoltaic plants in Spain</td><td>&#160;</td>
    <td style="text-align: center">5</td><td>&#160;</td>
    <td style="text-align: center">5</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Biogas plants in the Netherlands</td><td>&#160;</td>
    <td style="text-align: center">8</td><td>&#160;</td>
    <td style="text-align: center">8</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="vertical-align: top; text-align: left">Leasehold improvements</td><td>&#160;</td>
    <td style="text-align: center">Over the shorter of the lease period or the life of the asset</td><td>&#160;</td>
    <td style="text-align: center">7</td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The estimated useful life of the project
licenses of photovoltaic plants that are carried at cost is 20-25 years for the Company&#8217;s Spanish subsidiaries. The estimated useful
life of the project licenses of the Company&#8217;s Netherlands anaerobic digestion plants that are carried at cost is 13 years. The
fixed assets residual values, useful lives and methods of depreciation are reviewed at each financial year-end and adjusted if appropriate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory', window );">Impairment for non-financial assets</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>E.</b></td><td style="text-align: justify"><b>Impairment for non-financial assets</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The carrying amounts of the Company&#8217;s
non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication
exists, then the asset&#8217;s recoverable amount is estimated.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">For the purpose of impairment testing,
assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing
use that are largely independent of the cash inflows of other assets or groups of assets (the &#8220;cash-generating unit&#8221;). The
Company views each PV plant as a separate cash-generating unit.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The recoverable amount of an asset or
cash-generating unit is the greater of its fair value less costs of disposal and its value in use.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory', window );">Leases</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>F.</b></td><td style="text-align: justify"><b>Leases</b></td>
</tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 36pt"></td><td style="width: 34.9pt"><i>(1)</i></td><td style="text-align: justify"><i>Leased assets and lease liabilities</i></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Contracts that award the Company control
over the use of a leased asset for a period of time in exchange for consideration are accounted for as leases. Upon initial recognition,
the Company recognizes a liability at the present value of the balance of future lease payments (these payments do not include certain
variable lease payments), and concurrently recognizes a right-of-use asset at the same amount of the lease liability, adjusted for any
prepaid or accrued lease payments, plus initial direct costs incurred in respect of the lease.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Since the interest rate implicit in the
Company&#8217;s leases is not readily determinable, the incremental borrowing rate of the lessee is used. Subsequent to initial recognition,
the right-of-use asset is accounted for using the cost model and depreciated over the shorter of the lease term or useful life of the
asset.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company has elected to apply the
practical expedient by which short-term leases of up to one year and/or leases in which the underlying asset has a low value, are accounted
for such that lease payments are recognized in profit or loss on a straight-line basis, over the lease term, without recognizing an asset
and/or liability in the statement of financial position.</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 36pt"></td><td style="width: 34.9pt"><i>(2)</i></td><td style="text-align: justify"><i>Variable lease payments</i></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Variable lease payments that depend on
an index or a rate, are initially measured using the index or rate existing at the commencement of the lease and are included in the
measurement of the lease liability. When the cash flows of future lease payments change as the result of a change in an index or a rate,
the balance of the liability is adjusted against the right-of-use asset. Other variable lease payments that are not included in the measurement
of the lease liability are recognized in profit or loss in the period in which the event or condition that triggers payment occurs.</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top">
<td style="width: 36pt"></td><td style="width: 34.9pt"><i>(3)</i></td><td style="text-align: justify"><i>Depreciation of right-of-use
                                            asset</i></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">After lease commencement, a right-of-use
asset is measured on a cost basis less accumulated depreciation and accumulated impairment losses and is adjusted for re-measurements
of the lease liability. Depreciation is calculated on a straight-line basis over the useful life or contractual lease period, whichever
earlier. The main right of use assets are lands which are depreciated over 20-40 years.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue', window );">Revenue recognition</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>G.</b></td><td style="text-align: justify"><b>Revenue recognition</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Revenues are derived primarily from the
sale of electricity and natural gas to customers. Revenues are recognized when the customer obtains control over the promised products,
i.e. when the natural gas or electricity is delivered to the customer. The revenue is measured according to the amount of consideration
to which the Company expects to be entitled in exchange for the products promised to the customer, other than amounts collected for third
parties.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Revenues from the sale of electricity
and natural gas are recognized when the units produced are transferred to the grid at connection points on the basis of a meter reading.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Revenues in respect of units produced
and transferred to the grid in the period between the most recent meter reading and the date of the statement of financial position,
are included based on an estimate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In some of the Company&#8217;s PV plants
in Spain, the proceeds from the sale of electricity also depend on the subsidies granted by the local government in accordance with changes
in the market prices of electricity. The Company measures revenues while taking into account the increase or decrease of the subsidies
it will receive as a result of changes in market prices throughout the current year.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory', window );">Income tax</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>H.</b></td><td style="text-align: justify"><b>Income tax</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Income tax consists of current tax and
deferred tax. Current tax and deferred tax are recognized in profit or loss except to the extent that the tax arises from items which
are recognized directly in equity. In such cases, the tax effect is also recognized in the relevant item in equity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Deferred tax is recognized in respect
of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used
for taxation purposes, except for a limited number of exceptions, including differences relating to investments in subsidiaries, joint
arrangements and associates, to the extent that the Company is able to control the timing of the reversal of the temporary difference
and it is probable that they will not reverse in the foreseeable future, either by way of selling the investment or by way of distributing
dividends in respect of the investment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">A deferred tax asset is recognized for
unused tax losses, tax benefits and deductible temporary differences, to the extent that it is probable that future taxable profits will
be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent
that it is no longer probable that the related tax benefit will be realized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Deferred tax assets that were not recognized
are reevaluated at each reporting date and recognized if it has become probable that future taxable profits will be available against
which they can be utilized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory', window );">Financing income and expenses</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>I.</b></td><td style="text-align: justify"><b>Financing income and expenses</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Financing income comprises interest income
on bank deposits and marketable securities, gains on changes in the fair value of financial assets at fair value through profit or loss,
gains on hedging instruments that are recognized in profit or loss and exchange rate differences. Interest income is recognized as it
accrues. Changes in the fair value of financial assets at fair value through profit or loss also include income from dividends and interest.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Financing expenses consist of bank charges,
interest expenses on borrowings and debentures, changes in the fair value of financial assets at fair value through profit or loss, losses
on hedging instruments that are recognized in profit or loss, and exchange rate differences.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Borrowing costs, which are not capitalized
to qualifying assets, are recognized in profit or loss using the effective interest method. Foreign currency gains and losses on financial
assets and financial liabilities are reported on a net basis as either financing income or financing expenses depending on whether foreign
currency movements are in a net gain or net loss position.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In the statements of cash flows, interest
received and interest paid are presented as part of cash flows from operating activities. Financing costs that were capitalized to qualifying
assets are presented as part of cash flows from investment activities<b>.</b></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForServiceConcessionArrangementsExplanatory', window );">Service concession arrangements</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>J.</b></td><td style="text-align: justify"><b>Service concession arrangements</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify">As part of service concession arrangements
with government bodies for the construction and operation of a facility in consideration for fixed and variable payments, the Company
recognizes a financial asset commencing from the start of the construction of the facility when it has an unconditional right to receive
cash or some other financial asset for the construction services. The financial asset reflects the unconditional payments receivable in
the future from the government body and bears an appropriate rate of interest for risk that is determined based on the risk of the customer.
The aforementioned financial assets are stated at fair value upon initial recognition and at amortized cost in subsequent periods. As
from January 1, 2018, the Company&#8217;s right to receive consideration for the construction services, constitutes a contract asset until
the end of the construction period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In projects accounted for using the financial
asset model, when at the end of the construction period there is an unconditional right (other than that of the passing of time) to receive
consideration for the construction services, the contract asset is classified to receivables (financial asset) according to the carrying
amount of the contract asset.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory', window );">Discontinued operations</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>K.</b></td><td style="text-align: justify"><b>Discontinued operations</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company classifies an operation as
a discontinued operation when it meets the criteria to be classified as held for sale. The discontinued operation is a component of the
Company&#8217;s business that represents a separate major line of business. The comparative income statement is restated as if the operation
had been discontinued from the start of the earliest comparative period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory', window );">New standards, amendments to standards and interpretations not yet adopted</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><b>L.</b></td><td style="text-align: justify"><b>New standards, amendments to standards and interpretations
not yet adopted</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>Amendment to IAS 1, <i>Presentation
of Financial Statements: Classification of Liabilities as Current or Non-Current (&#8220;the IAS 1 Amendment&#8221;) and subsequent amendment:
Non-Current Liabilities with Covenants (&#8220;the IAS 1Subsequent Amendment&#8221;)</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The IAS 1 Amendment, together with the
IAS 1 Subsequent Amendment (see below), replaces certain requirements for classifying liabilities as current or non-current.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">According to the IAS 1 Amendment, a liability
will be classified as non-current when the entity has the right to defer settlement for at least 12 months after the reporting period,
and it &#8220;has substance&#8221; and is in existence at the end of the reporting period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">According to the IAS 1 Subsequent Amendment,
as published in October 2022, covenants with which the entity must comply after the reporting date do not affect classification of the
liability as current or non-current. Additionally, the IAS 1 Subsequent Amendment adds disclosure requirements for liabilities subject
to covenants within 12 months after the reporting date, such as disclosure regarding the nature of the covenants, the date they need to
be complied with and facts and circumstances that indicate the entity may have difficulty complying with the covenants. Furthermore, the
IAS 1 Amendment clarifies that the conversion option of a liability will affect its classification as current or non-current, other than
when the conversion option is recognized as equity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The IAS 1 Amendment and the IAS 1 Subsequent
Amendment are effective for reporting periods beginning on or after January 1, 2024 with earlier application being permitted. The IAS
1 Amendment and IAS 1 Subsequent Amendment are applicable retrospectively, including an amendment to comparative data.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In the opinion of the Company, with regard
to current loans and covenants of the Company, application of the IAS 1 Amendment and the IAS 1 Subsequent Amendment is not expected to
have a material effect on the Company.</p><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for new standards, amendments and interpretations not yet adopted.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of accounting policies relevant to an understanding of financial statements, which the entity does not separately disclose.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's material accounting policy information for discontinued operations. [Refer: Discontinued operations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's material accounting policy information for finance income and costs. [Refer: Finance income (cost)]</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's material accounting policy information for financial instruments. [Refer: Financial instruments, class [member]]</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's material accounting policy information for income tax.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Restricted Cash, Deposits and Marketable Securities (Tables)<br></strong></div></th>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about restricted cash, deposits and marketable securities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022997488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investee Companies and other investments (Tables)<br></strong></div></th>
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<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 4pt; text-align: left">Investment in equity accounted investee</td><td style="padding-bottom: 4pt; font-weight: bold">&#160;</td>
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  </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfDetailedInformationAboutChangesInInvestmentsExplanatory', window );">Schedule of Changes in Investments</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%">Balance as at January 1</td><td style="width: 1%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 4pt">Balance as at December 31</td><td style="padding-bottom: 4pt; font-weight: bold">&#160;</td>
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfDetailedInformationAboutFinancialPositionForInvestmentsExplanatory', window );">Schedule of Information on Financial Position</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: right">&#160;</td><td>&#160;</td>
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    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfDetailedInformationAboutInformationOnOperatingResultsExplanatory', window );">Schedule of Information on Operating Results</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 28%; text-align: left; padding-bottom: 4pt; padding-left: 1.6pt">Ellomay Luzon Energy</td><td style="width: 1%; font-weight: bold; padding-bottom: 4pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 1.6pt">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-left: 1.6pt">2022</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt; padding-left: 1.6pt">Ellomay Luzon Energy</td><td style="padding-bottom: 4pt">&#160;</td>
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43.65pt; text-align: justify; text-indent: -43.65pt">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfDetailedInformationAboutCompositionOfAdvancesOnAccountOfInvestmentsExplanatory', window );">Schedule of Composition of Advances on Account of Investments</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; width: 76%; text-align: left; padding-bottom: 4pt">On account of development of PV projects in Italy</td><td style="width: 1%; font-weight: bold; padding-bottom: 4pt">&#160;</td>
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><span></span>
</td>
</tr>
</table>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583107900544">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Trade and Other Receivables (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt">&#160;</td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">656</td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022994192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fixed Assets (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndOtherExplanatoryInformationAbstract', window );"><strong>Fixed Assets [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory', window );">Schedule of Fixed Assets</a></td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory', window );">Schedule of Investments in Photovoltaic Plants</a></td>
<td class="text">Presented hereunder are data regarding
the Company&#8217;s investments in photovoltaic plants as at December 31, 2023:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">PV Plant Title</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Original nominal <br/>
capacity</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Connection to grid/Other<br/>
 status</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="text-align: center">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">&#8364; in thousands</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583028810384">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Current maturities and short term bank loans (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlockAbstract', window );"><strong>Current Maturities and Short Term Bank Loans [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclodurOfCurrentMaturitiesAndShortTermBankLoansTableTextBlock', window );">Schedule of Current Maturities and Short Term Bank Loans</a></td>
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    <td style="padding-left: 0.125in; text-indent: -0.125in; width: 31%; text-align: justify; padding-bottom: 4pt">Current maturities of
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<td style="width: 0.25in; text-align: left">(1)</td><td style="text-align: justify">Loans provided by the minority (49%) holders in Talasol.</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583020400192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans (Tables)<br></strong></div></th>
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<td class="text"><b>Composed as follows:</b><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"></td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"></td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: -0.5in; padding-left: 0.5in">&#160;</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 5.4pt"></td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"></td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"></td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
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  </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left">(1)</td><td style="text-align: justify">Loans provided by the minority (49%) holders in Talasol.</td>
</tr></table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory', window );">Schedule of Aggregate Annual Maturities</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The aggregate annual maturities are as follows:</b></span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Long-term loans</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">267,154</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">251,048</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Current maturities</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">14,308</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">22,187</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Short-term loans</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">476</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">628</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">281,938</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">273,863</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory', window );">Schedule of Movement in Liabilities Deriving from Financing Activities</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Movement in liabilities deriving from financing activities</b></span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Liabilities</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Loans and</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Note</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">borrowings</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Debentures</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 54%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Balance as at January 1, 2023</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">273,863</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">110,428</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">384,291</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Changes from financing activities</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Proceeds from issue of debentures</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-161; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">55,808</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">55,808</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Repayment of debentures</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">12</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-162; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(17,763</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(17,763</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Receipt of loans</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">32,157</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-163; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">32,157</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Repayment of loans</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(12,736</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-164; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(12,736</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accrued interest</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,284</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-165; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,284</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Linkage</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,849</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-166; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,849</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Transaction costs related to borrowings</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(686</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">446</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(240</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Transfer to disposal
    groups held for sale</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(13,047</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-167; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(13,047</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total net financing liabilities</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">285,684</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">148,919</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">434,603</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Effect
    of changes in foreign exchange rates</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,746</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(8,832</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(12,578</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Balance as at December
    31, 2023</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">281,938</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">140,087</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">422,025</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Liabilities</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Loans and</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Note</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">borrowings</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Debentures</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 54%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Balance as at January 1, 2022</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">218,895</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">137,299</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">356,194</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Changes from financing
    activities</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Repayment of debentures</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">12</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-168; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(19,764</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(19,764</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Receipt of loans</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">215,170</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-169; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">215,170</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Repayment of loans</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(153,751</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-170; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(153,751</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about aggregate annual maturities of long-term loans.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about movement in liabilities deriving from financing activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583029382304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Debentures (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesAbstract', window );"><strong>Debentures [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfDetailedInformationAboutDebenturesExplanatory', window );">Schedule of Debentures</a></td>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Carrying<br/>
    amount</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Face
    value</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Carrying<br/>
    amount</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 52%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Debentures</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">141,689</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">140,087</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">111,911</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">110,428</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Less
    current maturities</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">35,698</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">35,200</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">19,078</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">18,714</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Total
    long-term debentures</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">105,991</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">104,887</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">92,833</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">91,714</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures', window );">Schedule of Aggregate Annual Maturities</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The aggregate annual maturities are as follows:</b></span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December&#160;31</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Second year</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">35,212</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">37,779</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Third year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">28,692</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">37,792</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Fourth year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,625</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">16,143</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Fifth year</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,657</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-174; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Sixth year and thereafter</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,701</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-175; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Long-term debentures</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">104,887</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">91,714</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Current maturities</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">35,200</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">18,714</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">140,087</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">110,428</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DebenturesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DebenturesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about aggregate annual maturities of debentures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about debentures.</p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583028659488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Long-term Liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherLongTermLiabilitiesAbstract', window );"><strong>Other Long-Term Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfDetailedInformationAboutOtherLongTermLiabilitiesExplanatory', window );">Schedule of Other Long-Term Liabilities</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="width: 76%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Warrants Liability (see Note 16)</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">329</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Other liabilities<sup>(1)</sup></span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><sup>(1)</sup></td><td style="text-align: justify">Represents the long-term portion of the potential liability
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about other long-term liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583031210608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Leases (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory', window );">Schedule of Right-of-use Assets</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Right-of-use assets</b></span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">110</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Transfer
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    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Balance
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    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,074</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">30,967</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    storage</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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                                            </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Yosef</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></p> </div></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; width: 30%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Balance
    as at January 1, 2022</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-196; font-family: Times New Roman, Times, Serif">-</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,755</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,587</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">11,352</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,503</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23,367</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Lease
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-197; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,861</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-198; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-199; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-200; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-201; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Depreciation
    for the year</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(124</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(128</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(120</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(404</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(473</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(117</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,366</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Other</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-203; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(321</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-204; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">228</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">36</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Effect
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    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-206; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-207; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-208; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(694</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(91</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(785</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Balance
    as at December 31, 2022</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">46</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,733</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,314</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,183</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">10,413</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,331</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">30,020</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory', window );">Schedule of Maturity Analysis of Company's Lease Liabilities</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Maturity
analysis of the Company&#8217;s lease liabilities</b></span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">December&#160;31,<br/>
    2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;&#160;in&#160;thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 88%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Less than one year</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">One to five years</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,970</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">More than five years</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">20,710</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">24,380</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Current maturities of
    lease liability</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">700</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Long-term lease liability</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23,680</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory', window );">Schedule of Amounts Recognized in Profit or Loss</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amounts recognized in profit or loss</b></span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">*2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">*2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">*2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Depreciation on right-of-use asset</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">718</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">743</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">774</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Interest expenses on lease
    liability</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">407</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">370</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">367</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
remainder of the depreciation and the interest is capitalized to fixed assets.</span></td>
</tr></table><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of additional information about leasing activities of a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 59<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_59&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a maturity analysis of operating lease payments. Operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 97<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_97&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022876352">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions and Balances with Related Parties (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransactionsAndBalancesWithRelatedPartiesAbstract', window );"><strong>Transactions and Balances with Related Parties [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfAmountsIncurredByEntityForProvisionOfKeyManagementPersonnelServicesProvidedBySeparateManagementEntitiesExplanatory', window );">Schedule of Key Management Personnel and Interested Parties</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compensation
to key management personnel and interested parties that are employed by, or provide consulting services to, the Company:</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Amount</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 28%; text-align: left">Short-term <span style="font-family: Times New Roman, Times, Serif">Benefits</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">3</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;703</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif">3</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;994</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif">3</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;763</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Post-employment Benefits</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">66</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">2</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">72</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">2</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">61</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Share-based payments</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">3</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">80</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">3</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">68</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory', window );">Schedule of Compensation to Directors</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compensation
to directors (excluding compensation paid under the Management Agreement):</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="22" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Year
    ended December 31</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2021</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Number of</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Number of</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Number of</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">people</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Amount</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">people</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Amount</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">People</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Amount</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; width: 28%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total compensation to directors
    not employed by the Company</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">4</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<span style="font-family: Times New Roman, Times, Serif">80</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif">4</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<span style="font-family: Times New Roman, Times, Serif">90</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: center">4</td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<span style="font-family: Times New Roman, Times, Serif">72</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Share-based payments</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">4</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">28</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">4</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">36</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">4</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">10</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory', window );">Schedule of Debts and Loans to Related and Interested Parties</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Debts and loans to related and interested parties</b></span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Interest
    income recognized in <br/>
statement of</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="5" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">The terms of the loan</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Balance
    as at December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">income
    for the year ended <br/>
December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Interest</span><br/>
</td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Linkage</span><br/>
</td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">rate</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">base</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
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<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net of 258,046 Ordinary shares held as treasury shares as of December 31, 2023, 2022 and 2021, all of which have been purchased according to share buyback programs that were authorized by the Company&#8217;s Board of Directors.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of classes of share capital. [Refer: Share capital [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_79_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583028947424">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share-Based Payment (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract', window );"><strong>Share-Based Payment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfExpensesRecognizedInFinancialStatementsExplanatory', window );">Schedule of Expenses Recognized in Financial Statements</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
expenses recognized in the financial statements for services received from directors and employees is shown in the following table:</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Year
    ended December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    thousand</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Expenses arising
    from share-based payment&#160;transactions</span></td><td style="width: 1%; font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">122</span></td><td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">127</span></td><td style="width: 1%; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">63</span></td><td style="width: 1%; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfBlackScholesOptionsPricingModelTextBlock', window );">Schedule of Black-Scholes Options Pricing Model</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
fair value of the options is estimated using a Black-Scholes options pricing model with the following weighted average assumptions:</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Year
    ended December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Dividend yield</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0</span></td><td style="font-weight: bold">%</td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0</span></td><td>%<span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0</span></td><td>%<span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Expected volatility</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.509</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.405</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.433</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Risk-free interest</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.92</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2.9</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.48</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Expected life (in years)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2-3</b></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2-3</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2-3</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Exercise price</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">16.11</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">27.22</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">29.27</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory', window );">Schedule of Weighted Average Fair Values and Exercise Price</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
options granted during 2023, 2022 and 2021 were granted with exercise price equal to or higher than the market price on the date of grant.
Weighted average fair values and exercise price of options on dates of grant are as follows:</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">Equal
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt">&#160;</td><td style="font-weight: bold; padding-bottom: 4pt">&#160;</td>
    <td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: right">&#160;</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt; text-align: right">&#160;</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt; text-align: right">&#160;</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Weighted average fair
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  </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory', window );">Schedule of Number and Weighted Average Exercise Prices of Share Options</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table lists the number of share options, the weighted average exercise prices of share options during the current year:</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td>
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    <td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="text-align: center">&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
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    <td style="font-weight: bold">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td>
    <td>&#160;</td>
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    <td style="font-weight: bold">&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
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    <td style="text-align: center">&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
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    <td style="padding-bottom: 1.5pt">&#160;</td>
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    <td>&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
    <td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583030457536">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Details of the Statements of Profit or Loss and Other Comprehensive Income (Loss) (Tables)<br></strong></div></th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfRevenueExplanatory', window );">Schedule of Revenues</a></td>
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<tr class="re">
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<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Operating Costs, Depreciation and Amortization</b></span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">For
    the year ended December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Depreciation from fixed assets</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">15,405</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">14,954</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,977</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Depreciation from right-of-use assets</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">607</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">626</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">664</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Professional services</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,549</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,232</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,465</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating and maintenance services</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">16,276</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,827</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">11,193</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">System operator charges</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,385</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">6,882</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,046</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Insurance</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">842</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">649</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">506</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Other</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">809</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">81</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,013</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Total operating costs</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">38,873</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">39,251</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">31,864</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory', window );">Schedule of General and Administrative Expenses</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>General and Administrative Expenses</b></span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">For
    the year ended December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">*2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">*2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Salaries and related compensation</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,797</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,151</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,505</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Professional services</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,306</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,367</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,785</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Other</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,180</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,337</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,334</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Total general and administrative
    expenses</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,283</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,855</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,624</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinanceIncomeExplanatory', window );">Schedule of Financing Income</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financing income</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">For
    the year ended December 31</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">*2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest income</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,015</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">402</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">266</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value of derivatives, net</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">251</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">605</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-216; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Profit from settlement of derivatives contract</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-217; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-218; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">407</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Gain from exchange rate
    differences, net</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">6,732</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">6,041</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-219; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Total financing income</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,998</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,048</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">673</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></td>
</tr></table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinanceCostExplanatory', window );">Schedule of Financing Expenses</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financing expenses</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">For
    the year ended December 31</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">*2022</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">*2021</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change in fair value of derivatives, net</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-220; font-family: Times New Roman, Times, Serif">-</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-221; font-family: Times New Roman, Times, Serif">-</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">841</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Debentures interest and related
    expenses</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,876</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,130</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,220</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest and commissions related to projects
    finance</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,825</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,852</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,313</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Amortization of capitalized expenses related
    to projects finance</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">252</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">246</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">12,180</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest on minority shareholder loan</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,014</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,529</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,055</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583033906512">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Taxes on Income (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Composition of income tax benefit (taxes on income):</b></span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,826</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="width: 1%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(977</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(932</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,826</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(977</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Deferred tax income</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Creation and reversal of temporary differences</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,655</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">174</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,513</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Adjustments for prior
    years, net</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">713</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-224; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-225; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,368</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">174</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,513</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Tax benefit (taxes on
    income)</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,436</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,652</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,536</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock', window );">Schedule of Theoretical Tax on the Pre-Tax Profit and the Tax Expense</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Reconciliation between the theoretical tax on the pre-tax profit and the tax expense:</b></span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2023</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">*2022</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">*2021</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#8364;
    in thousands</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Profit
    (loss) before taxes on income</span></td><td style="width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">976</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,081</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(22,935</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Primary
    tax rate of the Company</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Tax
    benefit (tax expenses) calculated according to the Company&#8217;s primary tax rate</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(224</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(249</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,275</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Additional
    tax saving in respect of:</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Different
    tax rate of foreign subsidiaries</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(72</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(488</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(40</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Neutralization
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    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">994</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">277</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">27</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Difference
    between measurement basis of income (expenses) for tax purposes and measurement basis of income (expenses) for financial reporting
    purposes</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(47</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(706</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-226; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Changes
    in deferred taxes for tax losses and benefits from previous years for which deferred taxes were not created in the past</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">713</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">282</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-227; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Utilization
    of tax losses and benefits from prior years for which deferred taxes were not created</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right">1,363</td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">566</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-228; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Change
    in temporary differences for which deferred tax were not recognized</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">106</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-229; font-family: Times New Roman, Times, Serif">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">51</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Current
    year tax losses and benefits for which deferred taxes were not created</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,275</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,199</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(2,770</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Permanent
differences</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(122</td><td style="padding-right: 2.5pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(135</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(7</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Actual
    tax benefit (taxes on income)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,436</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,652</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,536</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified
due to discontinued operation - see Note 23.</span></td>
</tr></table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory', window );">Schedule of Deferred Taxes</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Deferred taxes:</b></span><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fixed<br/>
    assets and</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Swap</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Carry-<br/>
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tax</span>deductions</td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">assets</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">leases</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">contract</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> and losses</span></p></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 9%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,642</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583027445200">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings Per Share (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text">The calculation of basic earnings per
share as at December 31, 2023, 2022 and 2021 was based on the profit attributable to the Company&#8217;s shareholders divided by a weighted
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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<td style="width: 0.5in">(1)</td><td style="text-align: justify">Net of treasury shares.</td></tr></table><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in">(2)</td><td style="text-align: justify">In 2023, 2022 and 2021 share options and warrants did not have a dilutive effect.</td></tr></table><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for earnings per share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;doctype=Standard&amp;dita_xref=IAS33_g70-73A_TI<br> -URIDate 2023-03-23<br></p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022885696">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Instruments (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsAbstract', window );"><strong>Financial Instruments [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfTransactionsInDerivativeFinancialInstrumentsTableTextBlock', window );">Schedule of Transactions in Derivative Financial Instruments</a></td>
<td class="text"><span style="font-family: Times New Roman, Times, Serif">In
order to manage these risks a</span>nd as described hereunder, the Company executes transactions in derivative financial instruments.
Presented hereunder is the composition of the derivatives:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfDetailedInformationAboutForwardAndSwapContractsExplanatory', window );">Schedule of Forward and Swap Contracts</a></td>
<td class="text">The following table sets forth the details
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: White">
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</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAnalysisForDerivativeFinancialLiabilities', window );">Schedule of Contractual Maturities of Financial Liabilities</a></td>
<td class="text">The following are the contractual maturities
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  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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<tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfCompanysExposureToLinkageAndForeignCurrencyRiskTableTextBlock', window );">Schedule of Company's Exposure to Linkage and Foreign Currency Risk</a></td>
<td class="text">The Company&#8217;s
exposure to linkage and foreign currency risk was as follow:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-251">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-266">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-267">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-269">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-270">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-271">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">30,967</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">3,558</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-273">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">13,828</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">8,677</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-274">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-275">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-276">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">8,677</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">9,350</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">1,096</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-277">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-278">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">10,446</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Derivatives</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-279">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-280">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-281">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">10,948</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">10,948</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Current maturities of long-term bank loans</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-282">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-283">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-284">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(9,784</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Current maturities of long-term loans</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-285">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-286">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-287">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(5,000</td><td style="font-weight: bold; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Current maturities of debentures</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-288">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-289">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-290">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Trade payables</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-291">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(154</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(4,263</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Other payables</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-292">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Current maturities of derivatives</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-294">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-295">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Current maturities of lease liabilities</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-296">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(105</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(10</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(585</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Liabilities of disposal groups classified as held for sale</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-297">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-299">-</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">2,328</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-332">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-333">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-334">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">365,756</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">30,020</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-336">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-337">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">30,020</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">4,094</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-338">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-339">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-340">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">4,094</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-341">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">5,607</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">14,585</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">20,192</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">23,510</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-343">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-344">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-345">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">23,510</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">1,171</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">259</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">9,270</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-347">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-348">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-349">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,488</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,488</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Current maturities of long-term bank loans</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-350">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(2,091</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-351">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(10,724</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(12,815</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Current maturities of long-term loans</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-352">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-353">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-354">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(10,000</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(10,000</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Current maturities of debentures</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-355">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(18,714</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-356">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-357">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(18,714</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Trade payables</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-358">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(123</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-359">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(4,381</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(4,504</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Other payables</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-360">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(6,107</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-361">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(5,100</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(11,207</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Current maturities of derivatives</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-362">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-363">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-364">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(33,183</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(33,183</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Current maturities of lease liabilities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-365">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(193</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-366">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(552</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(745</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Non-current liabilities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Long-term lease liabilities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-367">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(4,740</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-368">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(17,265</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(22,005</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Long-term loans</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-369">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(13,495</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-370">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(215,971</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(229,466</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Other long-term bank loans</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-371">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(7,538</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-372">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(14,044</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(21,582</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Debentures</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-373">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(91,714</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-374">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-375">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(91,714</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Deferred tax</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(6,770</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-376">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-377">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Total exposure in statement&#160;of financial position in&#160;respect of financial assets&#160;and financial liabilities</td><td style="padding-bottom: 4pt">&#160;</td>
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  </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left">(*)</td><td style="text-align: justify">Including items linked to the Israeli CPI</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><b>&#160;</b></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory', window );">Schedule of Significant Exchange Rates</a></td>
<td class="text">Information regarding significant exchange
rates:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Rate of</td><td style="font-weight: bold">&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Rate of</td><td style="font-weight: bold">&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: center">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Dollar</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">%</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 52%; text-align: left">1 Euro in 2023</td><td style="width: 1%; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">1 Euro in 2022</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(5.8</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1.066</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">6.6</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfSensitivityAnalysisOfEquityTableTextBlock', window );">Schedule of Sensitivity Analysis of Equity</a></td>
<td class="text">The analysis assumes that all other variables, in particular interest rates, remain constant.<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Increase</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Decrease</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Equity</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Equity</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">&#8364; thousands</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">Change in the exchange rate of:</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: justify">5% in the USD</td><td style="width: 1%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 9%; font-weight: bold; text-align: right">(90</td><td style="width: 1%; font-weight: bold; text-align: left">)</td><td style="width: 1%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 9%; font-weight: bold; text-align: right">99</td><td style="width: 1%; font-weight: bold; text-align: left"></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">5% in NIS</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(9,471</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">9,471</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  </table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Increase</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Increase</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Equity</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Equity</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">&#8364; thousands</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: left">Change in the exchange rate of:</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left">5% in the USD</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">155</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">(155</td><td style="width: 1%; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">5% in NIS</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(963</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">963</td><td style="text-align: left">&#160;</td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfChangeInInterestRateProfitLossTableTextBlock', window );">Schedule of Change in Interest Rate Profit (Loss)</a></td>
<td class="text">A change in interest rate would have
increased (decreased) the profit in the financial statements by the amounts shown below:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Profit or loss</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Profit or loss</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">&#8364; in thousands</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>

<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%">Increase of 1%</td><td style="width: 1%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 9%; font-weight: bold; text-align: right">736</td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">161</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>Increase of 3%</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">2,204</td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">520</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(734</td><td style="font-weight: bold; text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(196</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">(2,201</td><td style="font-weight: bold; text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(556</td><td style="text-align: left">)</td></tr>
  </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesTableTextBlock', window );">Schedule of Fair Values of the Other Financial Liabilities</a></td>
<td class="text">The fair values of the other financial
liabilities, together with the carrying amounts shown in the statement of financial position, are as follows:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsTableTextBlock', window );">Schedule of Interest Rates Used to Discount Estimated Cash Flows</a></td>
<td class="text">The interest rates used to discount
estimated cash flows, when applicable, are based on the government yield curve at the reporting date plus an adequate credit spread, and
were as follows:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfFairValuesHierarchyTableTextBlock', window );">Schedule of Fair Values Hierarchy</a></td>
<td class="text">Level 3	-	Inputs that are not based on observable market data (unobservable inputs).<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="17" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2022</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="font-weight: bold; text-align: center">Valuation techniques for</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">determining fair value</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-403">-</div></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
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    <td style="text-align: justify; padding-bottom: 4pt">Fair value is measured by discounting the future fixed and assessed cash flows, over the period of the contract and using market interest rates appropriate for similar instruments. The value is adjusted for the parties&#8217; credit risks.</td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock', window );">Schedule of Reconciliation Financial Instruments Carried at Fair Value</a></td>
<td class="text">The table hereunder presents reconciliation
from the beginning balance to the ending balance of financial instruments carried at fair value in level 3 of the fair value hierarchy:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financial
assets</b></span></td><td style="padding-bottom: 1.5pt">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Dori Energy loan</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td></tr>

  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 87%">Balance as at January 1, 2022</td><td style="width: 1%">&#160;</td>
    <td style="text-align: left; width: 1%">&#160;</td><td style="text-align: right; width: 9%">(20,894</td><td style="text-align: left; width: 2%">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Total income recognized in profit or loss</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">49,679</td><td style="text-align: left">*</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(90,322</td><td style="padding-bottom: 1.5pt; text-align: left">)*</td></tr>

<tr style="vertical-align: bottom">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: left">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Balance as at December 31, 2022</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(61,537</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Total income recognized in profit or loss</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">13,777</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Balance as at December 31, 2023</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">5,698</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
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<td style="width: 0in"></td><td style="width: 0.25in; text-align: left">*</td><td style="text-align: justify">Reclassified</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about forward and swap contracts.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Schedule of change in interest rate profit (Loss).</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Schedule of Company's Exposure to Linkage and Foreign Currency Risk.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Schedule of reconciliation financial instruments carried at fair value.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the effect of changes in foreign exchange rates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2023-01-01<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=21&amp;code=ifrs-tx-2023-en-r&amp;doctype=Standard&amp;dita_xref=IAS21_g51-57_TI<br> -URIDate 2023-03-23<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a maturity analysis for derivative financial liabilities, including the remaining contractual maturities for those derivative financial liabilities for which contractual maturities are essential for an understanding of the timing of the cash flows. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 39<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_39_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583030214448">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Operating Segments (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  <tr style="font-size: 8pt; vertical-align: bottom">
    <td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td colspan="2" style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid; font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid; font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid; font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">24,971</span></td><td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; width: 0.5%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="border-left: Black 1.5pt solid; font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="border-left: Black 1.5pt solid; font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  <tr style="font-size: 8pt; vertical-align: bottom; background-color: White">
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid; font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-size: 8pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">8,747</span></td><td style="font-size: 8pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-size: 8pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
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    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; width: 15.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Revenues</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">3,264</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">3,597</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">62,813</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">116,173</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; width: 0.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">2,034</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,771</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,565</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(3,370</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">9,032</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">23,608</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(10,618</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">12,990</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    development costs</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(3,784</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,206</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,081</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">244,584</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">107,079</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">137,432</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Total</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><p style="margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">operation)</span></p></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">segments</span></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Reconciliations</span></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="44" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">For
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  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td colspan="2" style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">12,841</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">12,541</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,514</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(895</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">6,916</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(8,446</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">12,841</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(2,508</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(5,624</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Share
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    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="border-left: Black 1.5pt solid; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">117</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Operating
    profit</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">4,826</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Financing
    income</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">673</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Financing
    expenses in connection&#160;with
    derivatives and warrants, net</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="border-left: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(841</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory', window );">Schedule of Fixed Assets, Net</a></td>
<td class="text">The following table lists the revenues
from the Company&#8217;s operations in Spain, Israel and the Netherlands:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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<td class="text">The
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Discontinued operation and Disposal Groups Held for Sale (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsExplanatory', window );">Schedule of Assets of Disposal Groups Classified as Held for Sale</a></td>
<td class="text"><b>Assets of disposal
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</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfDisposalGroupsClassifiedAsHeldForSaleTableTextBlock', window );">Schedule of Disposal Groups Classified as Held for Sale</a></td>
<td class="text"><b>Liabilities
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  <tr style="vertical-align: bottom">
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</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfProfitLossFromOperatingActivitiesExplanatory', window );">Schedule of Results Attributable to Discontinued Operation</a></td>
<td class="text"><b>Results attributable to discontinued operation</b><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583017347312">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>General (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GreenGasProductionCapacity', window );">Green gas production capacity per year</a></td>
<td class="text">3 million<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_GroenGasOudeTongeBVMember', window );">Groen Gas Oude-Tonge B.V. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GeneralDetailsLineItems', window );"><strong>General (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GreenGasProductionCapacity', window );">Green gas production capacity per year</a></td>
<td class="text">3.8 million<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_GroenGasGelderlAndBvMember', window );">Groen Gas Gelderland B.V. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GeneralDetailsLineItems', window );"><strong>General (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GreenGasProductionCapacity', window );">Green gas production capacity per year</a></td>
<td class="text">9.5 million<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_ManaraPSPMember', window );">Manara PSP [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GeneralDetailsLineItems', window );"><strong>General (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest</a></td>
<td class="nump">83.333%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_TalasolSolarSLUMember', window );">Talasol Solar S.L.U [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GeneralDetailsLineItems', window );"><strong>General (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest</a></td>
<td class="nump">51.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoradEnergyLtdMember', window );">Dorad Energy Ltd [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GeneralDetailsLineItems', window );"><strong>General (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest</a></td>
<td class="nump">9.375%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_GeneralDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_GreenGasProductionCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Green gas production capacity per year</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_GreenGasProductionCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2023-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_GroenGasGoorBVMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_GroenGasOudeTongeBVMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_GroenGasGelderlAndBvMember</td>
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<td></td>
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<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_ManaraPSPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_ManaraPSPMember</td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_TalasolSolarSLUMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoradEnergyLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoradEnergyLtdMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<td></td>
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<tr>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583020670416">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Preparation (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="rh">
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive income</a></td>
<td class="nump">&#8364; 37.3<span></span>
</td>
<td class="nump">&#8364; 21.8<span></span>
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</tr>
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<div style="display: none;">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_BasisofPreparationDetailsLineItems</td>
</tr>
<tr>
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<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncome">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_viii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 81A<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81A_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_d_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_ChangeInClassificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_ChangeInClassificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>77
<FILENAME>R54.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583026229568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Material Accounting Policies (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">Euro Member Countries, Euro</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaterialAccountingPoliciesDetailsLineItems', window );"><strong>Material Accounting Policies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Rate of exchange</a></td>
<td class="nump">1.106<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">United States of America, Dollars</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaterialAccountingPoliciesDetailsLineItems', window );"><strong>Material Accounting Policies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Rate of exchange</a></td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaterialAccountingPoliciesDetailsLineItems', window );"><strong>Material Accounting Policies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfEntitysRevenue', window );">Entity, percentage</a></td>
<td class="nump">20.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfHedge', window );">Percentage of hedge</a></td>
<td class="nump">80.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_estimatedUsefulLlifeYear', window );">Estimated useful life</a></td>
<td class="text">20 years<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DepreciatedTerm', window );">Depreciated term</a></td>
<td class="text">20 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaterialAccountingPoliciesDetailsLineItems', window );"><strong>Material Accounting Policies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfEntitysRevenue', window );">Entity, percentage</a></td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfHedge', window );">Percentage of hedge</a></td>
<td class="nump">125.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_estimatedUsefulLlifeYear', window );">Estimated useful life</a></td>
<td class="text">25 years<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DepreciatedTerm', window );">Depreciated term</a></td>
<td class="text">40 years<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DepreciatedTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DepreciatedTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_MaterialAccountingPoliciesDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_MaterialAccountingPoliciesDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfHedge">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of hedge.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfHedge</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_estimatedUsefulLlifeYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_estimatedUsefulLlifeYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClosingForeignExchangeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The spot exchange rate at the end of the reporting period. Exchange rate is the ratio of exchange for two currencies. Spot exchange rate is the exchange rate for immediate delivery.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClosingForeignExchangeRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfEntitysRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of the entity's revenue. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfEntitysRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_EUR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_EUR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_USD">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_USD</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>78
<FILENAME>R55.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583026233328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Material Accounting Policies (Details) - Schedule of Estimated Useful Lives<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OfficeEquipmentMember', window );">Office furniture and equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesLineItems', window );"><strong>Material Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment', window );">Mainly percentage per annum</a></td>
<td class="nump">33.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OfficeEquipmentMember', window );">Office furniture and equipment [Member] | Bottom of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesLineItems', window );"><strong>Material Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentagePropertyPlant', window );">Percentage per annum</a></td>
<td class="nump">6.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OfficeEquipmentMember', window );">Office furniture and equipment [Member] | Top of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesLineItems', window );"><strong>Material Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentagePropertyPlant', window );">Percentage per annum</a></td>
<td class="nump">33.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_PhotovoltaicPlantsInSpainMember', window );">Photovoltaic plants in Spain [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesLineItems', window );"><strong>Material Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentagePropertyPlant', window );">Percentage per annum</a></td>
<td class="nump">5.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment', window );">Mainly percentage per annum</a></td>
<td class="nump">5.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_AnaerobicDigestionPlantsNetherlandsMember', window );">Biogas plants in the Netherlands [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesLineItems', window );"><strong>Material Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentagePropertyPlant', window );">Percentage per annum</a></td>
<td class="nump">8.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment', window );">Mainly percentage per annum</a></td>
<td class="nump">8.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LeaseholdImprovementsMember', window );">Leasehold improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesLineItems', window );"><strong>Material Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment', window );">Mainly percentage per annum</a></td>
<td class="nump">7.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeaseholdImprovements', window );">Leasehold improvements</a></td>
<td class="text">Over the shorter of the lease period or the life of the asset<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LeaseholdImprovements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LeaseholdImprovements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_MaterialAccountingPoliciesDetailsScheduleofEstimatedUsefulLivesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentagePropertyPlant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentagePropertyPlant</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OfficeEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OfficeEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_PhotovoltaicPlantsInSpainMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_PhotovoltaicPlantsInSpainMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_AnaerobicDigestionPlantsNetherlandsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_AnaerobicDigestionPlantsNetherlandsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LeaseholdImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>79
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583020030848">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cash and Cash Equivalents (Details) - Schedule of Cash and Cash Equivalents<br> &#8364; in Thousands, $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfCashAndCashEquivalentsAbstract', window );"><strong>Schedule of Cash and Cash Equivalents [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Cash', window );">Cash</a></td>
<td class="nump">&#8364; 21,093<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 14,768<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents', window );">On call deposits</a></td>
<td class="nump">30,034<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">31,690<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">51,127<span></span>
</td>
<td class="nump">$ 56,548<span></span>
</td>
<td class="nump">46,458<span></span>
</td>
<td class="nump">$ 51,384<span></span>
</td>
<td class="nump">&#8364; 41,229<span></span>
</td>
<td class="nump">&#8364; 66,845<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents in the statement of cash flows</a></td>
<td class="nump">&#8364; 51,127<span></span>
</td>
<td class="nump">$ 56,548<span></span>
</td>
<td class="nump">&#8364; 46,458<span></span>
</td>
<td class="nump">$ 51,384<span></span>
</td>
<td class="nump">&#8364; 41,229<span></span>
</td>
<td class="nump">&#8364; 66,845<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfCashAndCashEquivalentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfCashAndCashEquivalentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Cash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits. [Refer: Cash on hand]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Cash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A classification of cash equivalents representing short-term deposits. [Refer: Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583029932112">
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<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Restricted Cash, Deposits and Marketable Securities (Details) - Schedule of Restricted Cash - Restricted Cash, Deposits and Marketable Securities [Member] - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RestrictedCashDepositsandMarketableSecuritiesDetailsScheduleofRestrictedCashLineItems', window );"><strong>Restricted Cash, Deposits and Marketable Securities (Details) - Schedule of Restricted Cash [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentHeldtomaturityInvestments', window );">Marketable securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">&#8364; 2,836<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ShortTermDeposits', window );">Short-term deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">997<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentRestrictedCashAndCashEquivalents', window );">Short-term restricted cash</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">810<span></span>
</td>
<td class="nump">900<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RestrictedCashAndLongTermBankDeposits', window );">Restricted cash and bank deposits, long-term</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">&#8364; 17,386<span></span>
</td>
<td class="nump">&#8364; 20,192<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Deposits used to secure obligations under agreements (see Notes 6 and 21E(3)) and loan
agreements (see Note 11).</td>
</tr></table></td></tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RestrictedCashAndLongTermBankDeposits">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Restricted cash and long-term bank deposits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RestrictedCashAndLongTermBankDeposits</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RestrictedCashDepositsandMarketableSecuritiesDetailsScheduleofRestrictedCashLineItems</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ShortTermDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of short-term deposits held by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ShortTermDeposits</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentHeldtomaturityInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current held-to-maturity investments. [Refer: Held-to-maturity investments]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expired 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 8<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_8_b&amp;doctype=Standard&amp;book=b<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentHeldtomaturityInvestments</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentRestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentRestrictedCashAndCashEquivalents</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583002351088">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investee Companies and other investments (Details)<br> &#8362; / shares in Units, &#8364; in Thousands, &#8362; in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="11">1 Months Ended</th>
<th class="th" colspan="8">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Feb. 28, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Feb. 28, 2021 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Apr. 17, 2019 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th"><div>Oct. 01, 2017</div></th>
<th class="th"><div>Jul. 25, 2016</div></th>
<th class="th"><div>May 12, 2014</div></th>
<th class="th"><div>Nov. 15, 2013</div></th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Mar. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Mar. 31, 2022 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th"><div>Apr. 30, 2021</div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th">
<div>Oct. 30, 2011 </div>
<div>&#8362; / shares</div>
</th>
<th class="th"><div>Nov. 30, 2010</div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th" colspan="2">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th" colspan="2">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th"><div>Feb. 29, 2024</div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Aug. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jun. 28, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Apr. 01, 2023</div></th>
<th class="th">
<div>Feb. 23, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Feb. 23, 2023 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th"><div>Feb. 01, 2023</div></th>
<th class="th"><div>Jan. 01, 2023</div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>May 01, 2022</div></th>
<th class="th"><div>Feb. 01, 2022</div></th>
<th class="th">
<div>Aug. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Aug. 31, 2021 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Jan. 27, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th"><div>Jan. 01, 2021</div></th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Nov. 30, 2019 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Mar. 12, 2019 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Apr. 30, 2017 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Apr. 30, 2017 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Feb. 23, 2017 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ShareholdersLoans', window );">Shareholders loans (in New Shekels) | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">&#8362; 10,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestPayableOnDebtPercentage', window );">Interest payable on debt percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ClaimsAmountPayment', window );">Claims amount payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 374<span></span>
</td>
<td class="nump">&#8362; 1,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ClaimsInterestPaymentAmount', window );">Claims interest payment amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 168<span></span>
</td>
<td class="nump">&#8362; 672<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ExpensesPercentage', window );">Expenses percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36.00%<span></span>
</td>
<td class="nump">36.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RemainingAmountOfAcquisition', window );">Remaining amount of Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 6,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountForfeitureOfLicenseGuarantee', window );">Forfeiture of license guarantee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 4,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Finance cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,555<span></span>
</td>
<td class="nump">$ 13,886<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 10,524<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 27,593<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 353,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 18,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_StandbyEquityGuarantee', window );">Equity guarantee aggregate amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,475<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GreenGasProductionCapacityLevel', window );">Green gas production capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,500,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityInterestsOfAcquirer', window );">Interest accrued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PaymentPercentage', window );">Payment percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">125,099<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 83,077<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">114,107<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 138,364<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 91,885<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 125,026<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_BorrowingsTransactionCosts', window );">Transaction cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(240)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (3,082)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ElectricityPerShare', window );">Electricity produce per share (in New Shekels per share) | &#8362; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 0.9631<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractualCommitmentsForAcquisitionOfIntangibleAssets', window );">Intangible asset</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,505<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentPropertyUnderConstructionOrDevelopment', window );">Cost of development and construction</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 58,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_EllomayLuxembourgMember', window );">Ellomay Luxembourg [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ShareholdersLoans', window );">Shareholders loans (in New Shekels) | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">&#8362; 23,467<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AdvancePayment', window );">Advance payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,921<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,554<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DeferredPaymentReceived', window );">Deferred payment amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_ManaraPSPMember', window );">Manara PSP [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransmissionNetworkPeriod', window );">Transmission network period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">20 years<span></span>
</td>
<td class="text">20 years<span></span>
</td>
<td class="text">20 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Finance cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 349,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 1,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">94,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountOfShareholdersFinancingCommitments', window );">Additional amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,500<span></span>
</td>
<td class="nump">&#8362; 10,000<span></span>
</td>
<td class="nump">&#8364; 4,700<span></span>
</td>
<td class="nump">&#8362; 17,500<span></span>
</td>
<td class="nump">&#8364; 3,200<span></span>
</td>
<td class="nump">&#8362; 11,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinanceProvidedByOwners', window );">Finance provided by owners</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">95,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">382,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EstimatedAdditionalEquity', window );">Additional equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 11,500<span></span>
</td>
<td class="nump">&#8362; 46,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_EllomayPSMember', window );">Ellomay PS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_StandbyEquityGuarantee', window );">Equity guarantee aggregate amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3,331<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 12,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_TalasolSolarSLUMember', window );">Talasol Solar S.L.U [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfShareCapitalHolds', window );">Percentage of share capital holds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_SharesValue', window );">Share value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 10,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_TalasolSPAMember', window );">Talasol S P A [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ProjectFinancingAggregateAmount', window );">Aggregate purchase price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 175,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Amount withdrawn</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityInterestsOfAcquirer', window );">Interest accrued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RecognizedAmountInEquity', window );">Premium amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DeferredAggregatePurchasePrice', window );">Aggregate purchase price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AssociatedExpensesInEquity', window );">Expenses amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PrepaymentOfOutstandingAmount', window );">Prepayment outstanding amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">121,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DepositAsDebtServiceFund', window );">Deposit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DepositAsSecurityForLetterOfCredit', window );">Security for a letter of credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PreviousFinancingAmount', window );">Financing amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">3,290<span></span>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_BorrowingsTransactionCosts', window );">Transaction cost</a></td>
<td class="text">&#160;<span></span>
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</td>
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</td>
<td class="nump">3,000<span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ExpectedSpecialDividend', window );">Special dividend</a></td>
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</td>
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</td>
<td class="nump">&#8364; 31,000<span></span>
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</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_TalmeiYosefMember', window );">Talmei Yosef [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PeriodOfPlantOperate', window );">Plant for a period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">20 years<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_ElectraInfrastructureLtdMember', window );">Electra Infrastructure Ltd [Member] | Manara PSP [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConstructionPeriod', window );">Construction period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">62 months 15 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_GroenGasGelderlandBVMember', window );">Groen Gas Gelderland B.V [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GreenGasProductionCapacityLevel', window );">Green gas production capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,500,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_TalasolSolarSLUMember', window );">Talasol Solar S.L.U [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfShareCapitalHolds', window );">Percentage of share capital holds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">51.00%<span></span>
</td>
<td class="nump">51.00%<span></span>
</td>
<td class="nump">51.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_TalasolMember', window );">Talasol [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Investment percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConstructionAgreementAmount', window );">Construction agreement amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 192,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OutputPercentageOfFinancialPowerSwap', window );">Swap output percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PeriodOfFinancialPowerSwap', window );">Plant for a period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_TalasolSPAMember', window );">Talasol S P A [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ProjectFinancingAggregateAmount', window );">Aggregate purchase price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 16,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AgreementAxis=ello_ManaraPspEpcAgreementMember', window );">Manara Psp Epc Agreement [Member] | Manara PSP [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AggregateGrossConsideration', window );">Aggregate consideration amount</a></td>
<td class="nump">&#8364; 280,000<span></span>
</td>
<td class="nump">&#8362; 1,130,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_ManaraPSPMember', window );">Manara PSP [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountOfAcquisition', window );">Amount of acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 24,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_EllomaySolarProjectMember', window );">Ellomay Solar Project [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Investment percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAndLumpsumAmount', window );">Fixed and lump-sum amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 15,820<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_UDoriEnergyInfrastructuresLtdMember', window );">U. Dori Energy Infrastructures Ltd [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfShareCapitalHolds', window );">Percentage of share capital holds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoradEnergyLtdMember', window );">Dorad Energy Ltd [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfShareCapitalHolds', window );">Percentage of share capital holds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IssuedProductionLicenses', window );">Issued production licenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">20 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LicenseExpired', window );">License expired date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">May 11,  2034<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountFinancialAgreementGuaranteesByDirectShare', window );">Aggregate amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 40,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 162,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfAverageProductionReduced', window );">Average production decrease percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.40%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.20%<span></span>
</td>
<td class="nump">0.70%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.70%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfProductionIncrease', window );">Percentage of production increase</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.30%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.30%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24.30%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.30%<span></span>
</td>
<td class="nump">3.30%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.30%<span></span>
</td>
<td class="nump">9.40%<span></span>
</td>
<td class="nump">13.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ClaimsAmountPayment', window );">Claims amount payment | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 183,367,953<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ClaimsInterestPaymentAmount', window );">Claims interest payment amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 39,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 43,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoradMember', window );">Dorad [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountFinancialAgreementGuaranteesByIndirectShare', window );">Indirect share of guarantees shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 15,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RefundAmountInClaim', window );">Refund amount in claim | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageDecreaseFromDoradHolding', window );">Percentage decrease from Dorad Holding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ExpensesPercentage', window );">Expenses percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ZorluEnerjiElektrikUretimASMember', window );">Zorlu Enerji Elektrik Uretim A.S [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfShareCapitalHolds', window );">Percentage of share capital holds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_LuzonGroupMember', window );">Luzon Group [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfShareCapitalHolds', window );">Percentage of share capital holds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ClaimsAmountPayment', window );">Claims amount payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 127,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 140,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 218,000<span></span>
</td>
<td class="nump">&#8362; 906,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PaymentReceivedForManagementAndEntrepreneurshipServices', window );">Payment received for management and entrepreneurship services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 49,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RecoveryOfAmountCommitted', window );">Recovery of amount (in New Shekels) | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 49,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_EilatAshkelonInfrastructureServicesLtdMember', window );">Eilat Ashkelon Infrastructure Services Ltd [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfShareCapitalHolds', window );">Percentage of share capital holds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoriEnergyMember', window );">Dori Energy [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RefundAmountInClaim', window );">Refund amount in claim</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 31,350<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 29,232<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_EdelcomLtdMember', window );">Edelcom Ltd [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfShareCapitalHolds', window );">Percentage of share capital holds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_EllomayPumpedStorageMember', window );">Ellomay Pumped Storage [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfAcquireCooperativesHoldings', window );">Ownership percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">83.333%<span></span>
</td>
<td class="nump">83.333%<span></span>
</td>
<td class="nump">83.333%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_AmpaLtdMember', window );">Ampa Ltd [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfAcquireCooperativesHoldings', window );">Ownership percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.667%<span></span>
</td>
<td class="nump">16.667%<span></span>
</td>
<td class="nump">16.667%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Investment percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.667%<span></span>
</td>
<td class="nump">16.667%<span></span>
</td>
<td class="nump">16.667%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ManaraPSPMember', window );">Manara PSP [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems', window );"><strong>Investee Companies and Other Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountFinancialAgreementGuaranteesByDirectShare', window );">Aggregate amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 317,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 1,270,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="51"></td></tr>
<tr><td colspan="51"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Reclassified due to discontinued operation - see Note 23.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AdvancePayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Advance payment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AdvancePayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AggregateGrossConsideration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate gross consideration.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AggregateGrossConsideration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AmountFinancialAgreementGuaranteesByDirectShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount financial agreement guarantees by direct share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AmountFinancialAgreementGuaranteesByDirectShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AmountFinancialAgreementGuaranteesByIndirectShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount financial agreement guarantees by indirect share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AmountFinancialAgreementGuaranteesByIndirectShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AmountForfeitureOfLicenseGuarantee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents amount forfeiture of license guarantee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AmountForfeitureOfLicenseGuarantee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AmountOfAcquisition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of acquisition.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AmountOfAcquisition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AmountOfShareholdersFinancingCommitments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of shareholders financing commitments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AmountOfShareholdersFinancingCommitments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AssociatedExpensesInEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Associated expenses in equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AssociatedExpensesInEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_BorrowingsTransactionCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Transaction costs (credits) related to borrowings.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_BorrowingsTransactionCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ClaimsAmountPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Claims amount payment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ClaimsAmountPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ClaimsInterestPaymentAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Claims interest payment amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ClaimsInterestPaymentAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ConstructionAgreementAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Construction agreement amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ConstructionAgreementAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ConstructionPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents construction period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ConstructionPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DeferredAggregatePurchasePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Deferred aggregate purchase price.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DeferredAggregatePurchasePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DeferredPaymentReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Deferred payment received</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DeferredPaymentReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DepositAsDebtServiceFund">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the deposit as debt service fund.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DepositAsDebtServiceFund</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DepositAsSecurityForLetterOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of deposit as security for a letter of credit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DepositAsSecurityForLetterOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ElectricityPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ElectricityPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_EstimatedAdditionalEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the value of estimated additional equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_EstimatedAdditionalEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ExpectedSpecialDividend">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of expected special dividend.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ExpectedSpecialDividend</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ExpensesPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expenses percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ExpensesPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_FinanceProvidedByOwners">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Finance provided by owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FinanceProvidedByOwners</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_FixedAndLumpsumAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fixed and lump-sum amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FixedAndLumpsumAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_GreenGasProductionCapacityLevel">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Green gas production capacity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_GreenGasProductionCapacityLevel</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_InterestPayableOnDebtPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Interest payable on debt percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_InterestPayableOnDebtPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_InvesteeCompaniesandotherinvestmentsDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_IssuedProductionLicenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Issued production licenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_IssuedProductionLicenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LicenseExpired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>License expiration date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LicenseExpired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_OutputPercentageOfFinancialPowerSwap">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Output percentage of financial power swap.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OutputPercentageOfFinancialPowerSwap</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PaymentPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payment percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PaymentPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PaymentReceivedForManagementAndEntrepreneurshipServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payment received for management and entrepreneurship services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PaymentReceivedForManagementAndEntrepreneurshipServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageDecreaseFromDoradHolding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage decrease from dorad holding.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageDecreaseFromDoradHolding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfAcquireCooperativesHoldings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of acquire cooperatives holdings.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfAcquireCooperativesHoldings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfAverageProductionReduced">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of average production reduced</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfAverageProductionReduced</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfProductionIncrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of production increase.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfProductionIncrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfShareCapitalHolds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of share capital holds.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfShareCapitalHolds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PeriodOfFinancialPowerSwap">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Period of financial power swap.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PeriodOfFinancialPowerSwap</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PeriodOfPlantOperate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Period of plant operate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PeriodOfPlantOperate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PrepaymentOfOutstandingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents prepayment of the outstanding amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PrepaymentOfOutstandingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PreviousFinancingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents amount of previous financing.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PreviousFinancingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ProjectFinancingAggregateAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Project financing aggregate amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ProjectFinancingAggregateAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RecognizedAmountInEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Recognized amount in equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RecognizedAmountInEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RecoveryOfAmountCommitted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Recovery of amounts committed.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RecoveryOfAmountCommitted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RefundAmountInClaim">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Refund amount to Dorado.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RefundAmountInClaim</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RemainingAmountOfAcquisition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Remaining amount of Acquisition.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RemainingAmountOfAcquisition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ShareholdersLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Shareholders loans.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ShareholdersLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_SharesValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Shares value.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_SharesValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_StandbyEquityGuarantee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the value of standby equity guarantee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_StandbyEquityGuarantee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_TransmissionNetworkPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Transmission network for a period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TransmissionNetworkPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContractualCommitmentsForAcquisitionOfIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual commitments for the acquisition of intangible assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2023-01-01<br> -Paragraph 122<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_122_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContractualCommitmentsForAcquisitionOfIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityInterestsOfAcquirer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at the acquisition date, of equity interests of the acquirer transferred as consideration in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2023-01-01<br> -Paragraph B64<br> -Subparagraph f<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B64_f_iv&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityInterestsOfAcquirer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 82<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentPropertyUnderConstructionOrDevelopment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of property that is being constructed or developed for future use as investment property. [Refer: Investment property]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentPropertyUnderConstructionOrDevelopment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2023-01-01<br> -Paragraph B64<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B64_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfVotingEquityInterestsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a subsidiary attributable to the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2023-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 19B<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_EllomayLuxembourgMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_EllomayLuxembourgMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_ManaraPSPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_ManaraPSPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_EllomayPSMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_EllomayPSMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_TalasolSolarSLUMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_TalasolSolarSLUMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_TalasolSPAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_TalasolSPAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_TalmeiYosefMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_TalmeiYosefMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ello_ElectraInfrastructureLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ello_ElectraInfrastructureLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_GroenGasGelderlandBVMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_GroenGasGelderlandBVMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_TalasolSolarSLUMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_TalasolSolarSLUMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_TalasolMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_TalasolSPAMember">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_TalasolSPAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AgreementAxis=ello_ManaraPspEpcAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AgreementAxis=ello_ManaraPspEpcAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_ManaraPSPMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_ManaraPSPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_EllomaySolarProjectMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_EllomaySolarProjectMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_UDoriEnergyInfrastructuresLtdMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_UDoriEnergyInfrastructuresLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoradEnergyLtdMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoradEnergyLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoradMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoradMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
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<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ZorluEnerjiElektrikUretimASMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ZorluEnerjiElektrikUretimASMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_LuzonGroupMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_LuzonGroupMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_EilatAshkelonInfrastructureServicesLtdMember">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_EilatAshkelonInfrastructureServicesLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoriEnergyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoriEnergyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_EdelcomLtdMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_EdelcomLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_EllomayPumpedStorageMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_EllomayPumpedStorageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_AmpaLtdMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_AmpaLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>82
<FILENAME>R59.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583019883328">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Investee Companies and other investments (Details) - Schedule of Composition of Investments<br> &#8364; in Thousands, $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfCompositionOfInvestmentsAbstract', window );"><strong>Schedule of Composition of Investments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvestmentInShares', window );">Investment in shares</a></td>
<td class="nump">&#8364; 31,772<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 30,029<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LongTermInvestment', window );">Long-term loans</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,665<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CompositionOfInvestments', window );">Total of composition investment</a></td>
<td class="nump">31,772<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,694<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Current maturities</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,665)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investment in equity accounted investee</a></td>
<td class="nump">&#8364; 31,772<span></span>
</td>
<td class="nump">$ 35,141<span></span>
</td>
<td class="nump">&#8364; 30,029<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CompositionOfInvestments">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of composition of the investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CompositionOfInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_InvestmentInShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Investment in shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_InvestmentInShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LongTermInvestment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Long-term Investment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LongTermInvestment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfCompositionOfInvestmentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfCompositionOfInvestmentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of investments accounted for using the equity method. The equity method is a method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor's share of net assets of the investee. The investor's profit or loss includes its share of the profit or loss of the investee. The investor's other comprehensive income includes its share of the other comprehensive income of the investee. [Refer: At cost [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B16&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022914608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investee Companies and other investments (Details) - Schedule of Changes in Investments - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfChangesInInvestmentsAbstract', window );"><strong>Schedule of Changes in Investments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TotalInvestmentComposition', window );">Balance as at January 1</a></td>
<td class="nump">&#8364; 30,029<span></span>
</td>
<td class="nump">&#8364; 34,029<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LongTermLoansExtended', window );">Long term loans extended</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">128<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent', window );">Dividend distribution</a></td>
<td class="num">(374)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RepaymentOfLongTermLoans', window );">Repayment of long-term loans</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(149)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestOnLongTermLoans', window );">Reevaluation in connection with long term loans</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(270)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">The Company&#8217;s share of income</a></td>
<td class="nump">4,012<span></span>
</td>
<td class="nump">1,206<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ForeignCurrencyTranslationAdjustments', window );">Foreign currency translation adjustments</a></td>
<td class="num">(1,895)<span></span>
</td>
<td class="num">(2,250)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConversionToShortTermLoan', window );">Conversion to short term loan</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(2,665)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TotalInvestmentComposition', window );">Balance as at December 31</a></td>
<td class="nump">&#8364; 31,772<span></span>
</td>
<td class="nump">&#8364; 30,029<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ConversionToShortTermLoan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of conversion to short term loan.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ConversionToShortTermLoan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ForeignCurrencyTranslationAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Foreign currency translation adjustments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ForeignCurrencyTranslationAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_InterestOnLongTermLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Interest on long term loans.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_InterestOnLongTermLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LongTermLoansExtended">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Long term loans extended.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LongTermLoansExtended</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RepaymentOfLongTermLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Repayment of long term loans.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RepaymentOfLongTermLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfChangesInInvestmentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfChangesInInvestmentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_TotalInvestmentComposition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total investment composition.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TotalInvestmentComposition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends recognised as distributions to owners of the parent. [Refer: Parent [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod</td>
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<td>xbrli:monetaryItemType</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583033646000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investee Companies and other investments (Details) - Schedule of Information on Financial Position - Dori Energy [Member] - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_a2023Abstract', window );"><strong>2023</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Rate of ownership, Ellomay Luzon Energy</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Current assets, Ellomay Luzon Energy</a></td>
<td class="nump">&#8364; 309<span></span>
</td>
<td class="nump">&#8364; 72<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Non-current assets, Ellomay Luzon Energy</a></td>
<td class="nump">62,735<span></span>
</td>
<td class="nump">63,722<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets, Ellomay Luzon Energy</a></td>
<td class="nump">63,044<span></span>
</td>
<td class="nump">63,794<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Current liabilities, Ellomay Luzon Energy</a></td>
<td class="num">(344)<span></span>
</td>
<td class="num">(5,329)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Non-current liabilities, Ellomay Luzon Energy</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total liabilities, Ellomay Luzon Energy</a></td>
<td class="num">(344)<span></span>
</td>
<td class="num">(5,329)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAttributableToOwnersOfParent', window );">Equity attributable to the owners of the Company, Ellomay Luzon Energy</a></td>
<td class="nump">62,700<span></span>
</td>
<td class="nump">58,464<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Company&#8217;s share, Ellomay Luzon Energy</a></td>
<td class="nump">31,350<span></span>
</td>
<td class="nump">29,232<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_SurplusCostsAndGoodwill', window );">Surplus costs and goodwill, Ellomay Luzon Energy</a></td>
<td class="nump">1,388<span></span>
</td>
<td class="nump">1,927<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherAdjustmentsInvestment', window );">Other adjustments, Ellomay Luzon Energy</a></td>
<td class="num">(966)<span></span>
</td>
<td class="num">(1,130)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvestmentInShares', window );">Carrying amount ofinvestment, Ellomay Luzon Energy</a></td>
<td class="nump">&#8364; 31,772<span></span>
</td>
<td class="nump">&#8364; 30,029<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_InvestmentInShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Investment in shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_InvestmentInShares</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_OtherAdjustmentsInvestment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other adjustments investment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OtherAdjustmentsInvestment</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_SurplusCostsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Surplus costs and goodwill.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_SurplusCostsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_a2023Abstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_a2023Abstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have the right at the end of the reporting period to defer settlement for at least twelve months after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_iii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 69<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of equity attributable to the owners of the parent. This specifically excludes non-controlling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph r<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_r&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that do not meet the definition of current assets. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_ii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_iv&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 69<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2023-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoriEnergyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoriEnergyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583029226544">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investee Companies and other investments (Details) - Schedule of Information on Operating Results - Dori Energy [Member] - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_a2023Abstract0', window );"><strong>2023</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Rate of ownership, Ellomay Luzon Energy</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Income for the year, Ellomay Luzon Energy</a></td>
<td class="nump">&#8364; 8,807<span></span>
</td>
<td class="num">&#8364; (61)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Company&#8217;s share, Ellomay Luzon Energy</a></td>
<td class="nump">4,404<span></span>
</td>
<td class="num">(31)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EliminationOfInterestOnLoanFromRelatedParty', window );">Elimination of interest on loan from related party, Ellomay Luzon Energy</a></td>
<td class="nump">308<span></span>
</td>
<td class="nump">1,475<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherAdjustments', window );">Other adjustments, Ellomay Luzon Energy</a></td>
<td class="num">(392)<span></span>
</td>
<td class="num">(238)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Company&#8217;s share of income of investee, Ellomay Luzon Energy</a></td>
<td class="nump">&#8364; 4,320<span></span>
</td>
<td class="nump">&#8364; 1,206<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_EliminationOfInterestOnLoanFromRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Elimination of interest on loan from related party</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_EliminationOfInterestOnLoanFromRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_OtherAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other adjustments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OtherAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_a2023Abstract0">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_a2023Abstract0</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2023-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) from continuing operations of associates and joint ventures accounted for using the equity method. [Refer: Associates [member]; Continuing operations [member]; Investments accounted for using equity method; Joint ventures [member]; Profit (loss) from continuing operations]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B16<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B16_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoriEnergyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583020168848">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investee Companies and other investments (Details) - Schedule of Composition of Advances on Account of Investments - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DevelopmentOfPvProjectsInItalyMember', window );">Development of PV Projects in Italy [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InvesteeCompaniesandotherinvestmentsDetailsScheduleofCompositionofAdvancesonAccountofInvestmentsLineItems', window );"><strong>Investee Companies and other investments (Details) - Schedule of Composition of Advances on Account of Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CompositionOfAdvancesOnAccountOfInvestments', window );">On account of development of PV projects in Italy</a></td>
<td class="nump">&#8364; 898<span></span>
</td>
<td class="nump">&#8364; 2,328<span></span>
</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CompositionOfAdvancesOnAccountOfInvestments">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of on account of development of PV projects in Italy.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CompositionOfAdvancesOnAccountOfInvestments</td>
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<td><strong> Balance Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">ello_InvesteeCompaniesandotherinvestmentsDetailsScheduleofCompositionofAdvancesonAccountofInvestmentsLineItems</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583072680224">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Trade and Other Receivables (Details) - Schedule of Current Assets - Trade and Other receivables<br> &#8364; in Thousands, $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentAssetsTradeAndOtherReceivablesAbstract', window );"><strong>Current Assets - Trade and Other receivables:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GovernmentAuthoritiesCurrentReceivables', window );">Government authorities</a></td>
<td class="nump">&#8364; 4,851<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3,752<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentIncomeReceivable', window );">Income receivable</a></td>
<td class="nump">1,013<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,062<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentInterestReceivable', window );">Interest receivable</a></td>
<td class="nump">221<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">125<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTaxAssetsCurrent', window );">Advance tax payment</a></td>
<td class="nump">1,028<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">566<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Trade receivable</a></td>
<td class="nump">205<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">420<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Inventories', window );">Inventory</a></td>
<td class="nump">1,170<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,201<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Derivatives (see Note 21)</a></td>
<td class="nump">275<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">273<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoanToOthersinDollars', window );">Loan to others</a></td>
<td class="nump">1,246<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPrepaidExpenses', window );">Prepaid expenses and other</a></td>
<td class="nump">1,983<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,033<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturitiesOfLoansGivenToAnEquityAccountedInvestee', window );">Current maturities of loans given to an equity accounted investee</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,665<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Total Current Assets</a></td>
<td class="nump">11,992<span></span>
</td>
<td class="nump">$ 13,264<span></span>
</td>
<td class="nump">12,097<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentAssetsLongTermReceivablesAbstract', window );"><strong>Non-current Assets - Long term receivables:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PrepaidExpensesAssociatedWithLongTermLoans', window );">Prepaid expenses associated with long-term loans</a></td>
<td class="nump">9,265<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,417<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivablesFromRentalOfProperties', window );">Annual rent deposits</a></td>
<td class="nump">656<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">290<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansToOthers', window );">Loans to others</a></td>
<td class="nump">509<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">546<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentReceivables', window );">Other</a></td>
<td class="nump">16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivables', window );">Total Non Current Assets</a></td>
<td class="nump">&#8364; 10,446<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 9,270<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CurrentAssetsTradeAndOtherReceivablesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CurrentAssetsTradeAndOtherReceivablesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CurrentIncomeReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current income receivable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CurrentIncomeReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CurrentMaturitiesOfLoansGivenToAnEquityAccountedInvestee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of current Maturities of loans given to an equity accounted investee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CurrentMaturitiesOfLoansGivenToAnEquityAccountedInvestee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_GovernmentAuthoritiesCurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of government authorities current receivables.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_GovernmentAuthoritiesCurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LoanToOthersinDollars">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of Loan to others.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LoanToOthersinDollars</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LoansToOthers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Information about loans to others.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LoansToOthers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_NonCurrentAssetsLongTermReceivablesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_NonCurrentAssetsLongTermReceivablesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PrepaidExpensesAssociatedWithLongTermLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Prepaid expenses associated with long term loans.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PrepaidExpensesAssociatedWithLongTermLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current derivative financial assets. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentInterestReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current interest receivable. [Refer: Interest receivable]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentInterestReceivable</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPrepaidExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as a current asset for expenditures made prior to the period when the economic benefit will be realised.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPrepaidExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax assets. [Refer: Current tax assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 68<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Inventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 36<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_36_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_g&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 68<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Inventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current trade receivables and non-current other receivables. [Refer: Non-current trade receivables; Other non-current receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentReceivablesFromRentalOfProperties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current receivables from rental of properties. [Refer: Receivables from rental of properties]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentReceivablesFromRentalOfProperties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current other receivables. [Refer: Other receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivables</td>
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<td>ifrs-full_</td>
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<td>xbrli:monetaryItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022902336">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fixed Assets (Details)<br> &#8364; in Thousands, &#8362; in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>ILS (&#8362;)</div>
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<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsLineItems', window );"><strong>Fixed Assets (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Fixed assets</a></td>
<td class="nump">&#8364; 407,982<span></span>
</td>
<td class="nump">$ 451,244<span></span>
</td>
<td class="nump">&#8362; 44,750<span></span>
</td>
<td class="nump">&#8364; 365,756<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingCostsCapitalised', window );">Borrowing costs</a></td>
<td class="nump">6,996<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="rh">
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsLineItems', window );"><strong>Fixed Assets (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Fixed assets</a></td>
<td class="nump">&#8364; 339,821<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FixedAssetsDetailsLineItems</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of interest and other costs that an entity incurs in connection with the borrowing of funds that are directly attributable to the acquisition, construction or production of a qualifying asset and which form part of the cost of that asset.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 23<br> -IssueDate 2023-01-01<br> -Paragraph 26<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=23&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_26_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingCostsCapitalised</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period. Note that right-of-use assets are not included. [Contrast: Property, plant and equipment including right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
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<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_SubsidiariesMember</td>
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<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fixed Assets (Details) - Schedule of Fixed Assets - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance beginning</a></td>
<td class="nump">&#8364; 405,113<span></span>
</td>
<td class="nump">&#8364; 365,301<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">63,759<span></span>
</td>
<td class="nump">45,356<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Transfer to disposal groups held for sale</a></td>
<td class="num">(18)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipment', window );">Effect of changes in exchange rates</a></td>
<td class="num">(6,127)<span></span>
</td>
<td class="num">(5,544)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance ending</a></td>
<td class="nump">462,727<span></span>
</td>
<td class="nump">405,113<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Cost [Member] | Photovoltaic plants [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance beginning</a></td>
<td class="nump">266,062<span></span>
</td>
<td class="nump">251,027<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">19,762<span></span>
</td>
<td class="nump">15,036<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Transfer to disposal groups held for sale</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipment', window );">Effect of changes in exchange rates</a></td>
<td class="num">(108)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance ending</a></td>
<td class="nump">285,716<span></span>
</td>
<td class="nump">266,062<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Cost [Member] | Pumped storage [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance beginning</a></td>
<td class="nump">102,472<span></span>
</td>
<td class="nump">78,892<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">42,178<span></span>
</td>
<td class="nump">29,124<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Transfer to disposal groups held for sale</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipment', window );">Effect of changes in exchange rates</a></td>
<td class="num">(6,019)<span></span>
</td>
<td class="num">(5,544)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance ending</a></td>
<td class="nump">138,631<span></span>
</td>
<td class="nump">102,472<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Cost [Member] | Biogas plants [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance beginning</a></td>
<td class="nump">36,355<span></span>
</td>
<td class="nump">35,192<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">1,792<span></span>
</td>
<td class="nump">1,163<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Transfer to disposal groups held for sale</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipment', window );">Effect of changes in exchange rates</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance ending</a></td>
<td class="nump">38,147<span></span>
</td>
<td class="nump">36,355<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Cost [Member] | Office furniture and equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance beginning</a></td>
<td class="nump">224<span></span>
</td>
<td class="nump">190<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">27<span></span>
</td>
<td class="nump">33<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Transfer to disposal groups held for sale</a></td>
<td class="num">(18)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipment', window );">Effect of changes in exchange rates</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance ending</a></td>
<td class="nump">233<span></span>
</td>
<td class="nump">224<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_DepreciationMember', window );">Depreciation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance beginning</a></td>
<td class="nump">39,357<span></span>
</td>
<td class="nump">24,404<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation for the year</a></td>
<td class="nump">15,405<span></span>
</td>
<td class="nump">14,954<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Transfer to disposal groups held for sale</a></td>
<td class="num">(18)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipment', window );">Effect of changes in exchange rates</a></td>
<td class="nump">1<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance ending</a></td>
<td class="nump">54,745<span></span>
</td>
<td class="nump">39,357<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_DepreciationMember', window );">Depreciation [Member] | Photovoltaic plants [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance beginning</a></td>
<td class="nump">29,530<span></span>
</td>
<td class="nump">17,297<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation for the year</a></td>
<td class="nump">12,736<span></span>
</td>
<td class="nump">12,233<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Transfer to disposal groups held for sale</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipment', window );">Effect of changes in exchange rates</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance ending</a></td>
<td class="nump">42,266<span></span>
</td>
<td class="nump">29,530<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_DepreciationMember', window );">Depreciation [Member] | Pumped storage [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance beginning</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation for the year</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Transfer to disposal groups held for sale</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipment', window );">Effect of changes in exchange rates</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance ending</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_DepreciationMember', window );">Depreciation [Member] | Biogas plants [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance beginning</a></td>
<td class="nump">9,652<span></span>
</td>
<td class="nump">6,952<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation for the year</a></td>
<td class="nump">2,644<span></span>
</td>
<td class="nump">2,700<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Transfer to disposal groups held for sale</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipment', window );">Effect of changes in exchange rates</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance ending</a></td>
<td class="nump">12,296<span></span>
</td>
<td class="nump">9,652<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_DepreciationMember', window );">Depreciation [Member] | Office furniture and equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance beginning</a></td>
<td class="nump">175<span></span>
</td>
<td class="nump">155<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation for the year</a></td>
<td class="nump">25<span></span>
</td>
<td class="nump">21<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Transfer to disposal groups held for sale</a></td>
<td class="num">(18)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipment', window );">Effect of changes in exchange rates</a></td>
<td class="nump">1<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance ending</a></td>
<td class="nump">183<span></span>
</td>
<td class="nump">175<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_CarryingAmountsMember', window );">Carrying amounts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance beginning</a></td>
<td class="nump">365,756<span></span>
</td>
<td class="nump">340,897<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance ending</a></td>
<td class="nump">407,982<span></span>
</td>
<td class="nump">365,756<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_CarryingAmountsMember', window );">Carrying amounts [Member] | Photovoltaic plants [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance beginning</a></td>
<td class="nump">236,532<span></span>
</td>
<td class="nump">233,730<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance ending</a></td>
<td class="nump">243,450<span></span>
</td>
<td class="nump">236,532<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_CarryingAmountsMember', window );">Carrying amounts [Member] | Pumped storage [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance beginning</a></td>
<td class="nump">102,472<span></span>
</td>
<td class="nump">78,892<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance ending</a></td>
<td class="nump">138,631<span></span>
</td>
<td class="nump">102,472<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_CarryingAmountsMember', window );">Carrying amounts [Member] | Biogas plants [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance beginning</a></td>
<td class="nump">26,703<span></span>
</td>
<td class="nump">28,240<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance ending</a></td>
<td class="nump">25,851<span></span>
</td>
<td class="nump">26,703<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_CarryingAmountsMember', window );">Carrying amounts [Member] | Office furniture and equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance beginning</a></td>
<td class="nump">49<span></span>
</td>
<td class="nump">35<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance ending</a></td>
<td class="nump">&#8364; 50<span></span>
</td>
<td class="nump">&#8364; 49<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CostAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CostAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to property, plant and equipment other than those acquired through business combinations. [Refer: Business combinations [member]; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_73_e_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ChangesInPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ChangesInPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation of property, plant and equipment. [Refer: Depreciation and amortisation expense; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause vii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_73_e_vii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 75<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_75_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisposalsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease in property, plant and equipment resulting from disposals. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_73_e_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisposalsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period. Note that right-of-use assets are not included. [Contrast: Property, plant and equipment including right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember</td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OtherPropertyPlantAndEquipmentMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_PumpedStorageMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_BiogasInstallationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_BiogasInstallationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OfficeEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OfficeEquipmentMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_DepreciationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_DepreciationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_CarryingAmountsMember</td>
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<td></td>
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<td>na</td>
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<td></td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583023535664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fixed Assets (Details) - Schedule of Investments in Photovoltaic Plants<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;) </div>
<div>MW</div>
</th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_EllomaySpainRinconadaSecondMember', window );">Ellomay Spain &#8211; Rinconada II [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">2.275<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">June 2010<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 5,509<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_RodriguezFirstMember', window );">Rodr&#237;guez I [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">1.675<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">November 2011<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 3,662<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_RodriguezSecondMember', window );">Rodr&#237;guez II [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">2.691<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">November 2011<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 6,631<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_FuenteLibrillaMember', window );">Fuente Librilla [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">1.248<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">June 2011<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 3,212<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_TalasolMember', window );">Talasol [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">300<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">January 2021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 220,061<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_EllomaySolarMember', window );">Ellomay Solar [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">28<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">July 2022<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 18,074<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyOneMember', window );">Solar Italy One [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">14.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">Under construction<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 12,056<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyTwoMember', window );">Solar Italy Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">4.95<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">Under construction<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 4,069<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyFourMember', window );">Solar Italy Four [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">15.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">Ready to Build status<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 553<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyFiveMember', window );">Solar Italy Five [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">87.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">Ready to Build status<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 4,535<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalySevenMember', window );">Solar Italy Seven [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">54.77<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">Ready to Build status<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 1,852<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyNineMember', window );">Solar Italy Nine [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">Ready to Build status<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 464<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyTenMember', window );">Solar Italy Ten [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">18<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">Ready to Build status<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 1,071<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_FairfieldSolarMember', window );">Fairfield Solar [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">13.44<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">Ready to Build status<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 1,100<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_MexiaSolarOneMember', window );">Mexia Solar I [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">5.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">Ready to Build status<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 808<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_MexiaSolarSecondMember', window );">Mexia Solar II [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">5.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">Ready to Build status<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 341<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_MalakoffSolarOneMember', window );">Malakoff Solar I [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">6.96<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">Ready to Build status<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 578<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_MalakoffSolarSecondMember', window );">Malakoff Solar II [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">6.96<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">Ready to Build status<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 351<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_TalcoSolarMember', window );">Talco Solar [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems', window );"><strong>Schedule of Investments in Photovoltaic Plants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OriginalNominalCapacityPlant', window );">Original nominal capacity | MW</a></td>
<td class="nump">10.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ConnectionToGrid', window );">Connection to grid/Other status</a></td>
<td class="text">Ready to Build status<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CostIncludedInBookValue', window );">Cost included in book value as at December 31, 2023 (in Euro) | &#8364;</a></td>
<td class="nump">&#8364; 789<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Date grid connection was made.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ConnectionToGrid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cost included in book value.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CostIncludedInBookValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FixedAssetsDetailsScheduleofInvestmentsinPhotovoltaicPlantsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_OriginalNominalCapacityPlant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Nominal Capcity of power plants.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OriginalNominalCapacityPlant</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<td>dtr:powerItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_EllomaySpainRinconadaSecondMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_EllomaySpainRinconadaSecondMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_RodriguezFirstMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_RodriguezFirstMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
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<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_RodriguezSecondMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_RodriguezSecondMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_FuenteLibrillaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_FuenteLibrillaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_TalasolMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_TalasolMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_EllomaySolarMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_EllomaySolarMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
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<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyFourMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyFiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyFiveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalySevenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalySevenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyNineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyNineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyTenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_SolarItalyTenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_FairfieldSolarMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_FairfieldSolarMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_MexiaSolarOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_MexiaSolarOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_MexiaSolarSecondMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_MexiaSolarSecondMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_MalakoffSolarOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_MalakoffSolarOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_MalakoffSolarSecondMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_MalakoffSolarSecondMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_TalcoSolarMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_TalcoSolarMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R68.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022848480">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Other Payables (Details) - Schedule of Other Payables<br> &#8364; in Thousands, $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfOtherPayablesAbstract', window );"><strong>Schedule of Other Payables [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent', window );">Employees and payroll accruals</a></td>
<td class="nump">&#8364; 497<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 358<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentPayableToGovernmentAuthorities', window );">Government authorities</a></td>
<td class="nump">1,602<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,426<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DeferredRevenues', window );">Deferred revenues</a></td>
<td class="nump">1,058<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,794<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AccruedExpensesConnectedToManaraPsp', window );">Accrued expenses connected to Manara PSP</a></td>
<td class="nump">5,976<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,392<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities', window );">Other accrued expenses</a></td>
<td class="nump">1,587<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">853<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTaxLiabilitiesCurrent', window );">Taxes on income</a></td>
<td class="nump">139<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">384<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentPayables', window );">Total</a></td>
<td class="nump">&#8364; 10,859<span></span>
</td>
<td class="nump">$ 12,010<span></span>
</td>
<td class="nump">&#8364; 11,207<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AccruedExpensesConnectedToManaraPsp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of accrued expenses connected to Manara PSP.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AccruedExpensesConnectedToManaraPsp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CurrentPayableToGovernmentAuthorities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current payables to government authorities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CurrentPayableToGovernmentAuthorities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DeferredRevenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of Deferred revenues.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DeferredRevenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Employee and payroll accruals.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfOtherPayablesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfOtherPayablesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current accrued expenses and other current liabilities. [Refer: Accruals; Other current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax liabilities. [Refer: Current tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>92
<FILENAME>R69.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583023059184">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Current maturities and short term bank loans (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2023</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlockAbstract', window );"><strong>Current Maturities and Short Term Bank Loans [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MinorityPercentage', window );">Minority percentage</a></td>
<td class="nump">49.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlockAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlockAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_MinorityPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Minority percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_MinorityPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>93
<FILENAME>R70.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583030209488">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Current maturities and short term bank loans (Details) - Schedule of Current Maturities and Short Term Bank Loans - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansLineItems', window );"><strong>Current maturities and short term bank loans (Details) - Schedule of Current Maturities and Short Term Bank Loans [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentPortionOfLongTermBankLoans', window );">Current portion of long term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 9,784<span></span>
</td>
<td class="nump">&#8364; 12,815<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_EuriborMember', window );">EURIBOR [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansLineItems', window );"><strong>Current maturities and short term bank loans (Details) - Schedule of Current Maturities and Short Term Bank Loans [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsOriginalCurrency', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">EURIBOR<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentPortionOfLongTermBankLoans', window );">Current portion of long term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 3,022<span></span>
</td>
<td class="nump">3,261<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherLongTermBorrowingsOriginalCurrency', window );">Other long term borrowings original currency</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">EURIBOR<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherLongTermBorrowingsInterestRate', window );">Interest rate of other long term borrowings interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Current borrowings and current portion of non-current borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">&#8364; 5,000<span></span>
</td>
<td class="nump">&#8364; 10,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_EuriborMember', window );">EURIBOR [Member] | Bottom of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansLineItems', window );"><strong>Current maturities and short term bank loans (Details) - Schedule of Current Maturities and Short Term Bank Loans [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_BorrowingInterestRate', window );">Borrowings, interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherLongTermBorrowingsInterestRate', window );">Interest rate of other long term borrowings interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.27%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_EuriborMember', window );">EURIBOR [Member] | Top of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansLineItems', window );"><strong>Current maturities and short term bank loans (Details) - Schedule of Current Maturities and Short Term Bank Loans [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_BorrowingInterestRate', window );">Borrowings, interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherLongTermBorrowingsInterestRate', window );">Interest rate of other long term borrowings interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">9.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ifrs-full_FixedInterestRateMember', window );">Fixed interest rate [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansLineItems', window );"><strong>Current maturities and short term bank loans (Details) - Schedule of Current Maturities and Short Term Bank Loans [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsOriginalCurrency', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentPortionOfLongTermBankLoans', window );">Current portion of long term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 6,762<span></span>
</td>
<td class="nump">&#8364; 7,463<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ifrs-full_FixedInterestRateMember', window );">Fixed interest rate [member] | Bottom of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansLineItems', window );"><strong>Current maturities and short term bank loans (Details) - Schedule of Current Maturities and Short Term Bank Loans [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_BorrowingInterestRate', window );">Borrowings, interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.58%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ifrs-full_FixedInterestRateMember', window );">Fixed interest rate [member] | Top of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansLineItems', window );"><strong>Current maturities and short term bank loans (Details) - Schedule of Current Maturities and Short Term Bank Loans [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_BorrowingInterestRate', window );">Borrowings, interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3.03%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_ConsumerPriceIndexInIsraelMember', window );">Consumer price index in Israel [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansLineItems', window );"><strong>Current maturities and short term bank loans (Details) - Schedule of Current Maturities and Short Term Bank Loans [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsOriginalCurrency', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Consumer price index in Israel<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_BorrowingInterestRate', window );">Borrowings, interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4.65%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentPortionOfLongTermBankLoans', window );">Current portion of long term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">&#8364; 2,091<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Loans provided by the minority (49%) holders in Talasol.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_BorrowingInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_BorrowingInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CurrentPortionOfLongTermBankLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CurrentPortionOfLongTermBankLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CurrentmaturitiesandshorttermbankloansDetailsScheduleofCurrentMaturitiesandShortTermBankLoansLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_OtherLongTermBorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OtherLongTermBorrowingsInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_OtherLongTermBorrowingsOriginalCurrency">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The currency in which the other long term borrowings are denominated.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OtherLongTermBorrowingsOriginalCurrency</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsOriginalCurrency">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The currency in which the borrowings are denominated. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsOriginalCurrency</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current borrowings and current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ello_EuriborMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ello_EuriborMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ifrs-full_FixedInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ifrs-full_FixedInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ello_ConsumerPriceIndexInIsraelMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ello_ConsumerPriceIndexInIsraelMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583027270176">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans (Details) - Part-1<br> &#8364; in Thousands, &#8362; in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Apr. 30, 2019</div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Mar. 31, 2022 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Feb. 11, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Feb. 11, 2021 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th">
<div>Mar. 12, 2019 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MinorityPercentage', window );">Minority percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NumberOfSplittingOfLoans', window );">Separate loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.65%<span></span>
</td>
<td class="nump">5.65%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 353,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 18,400<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_StandbyEquityGuarantee', window );">Standby equity guarantee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3,400<span></span>
</td>
<td class="nump">&#8362; 13,475<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.10%<span></span>
</td>
<td class="nump">9.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_ManaraProjectMember', window );">Manara Project [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Owned Israeli subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">83.333%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_EllomayAndAmpaInvestmentsLtdMember', window );">Ellomay and Ampa Investments Ltd [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_EllomayAndAmpaInvestmentsLtdMember', window );">Ellomay and Ampa Investments Ltd [Member] | Ellomay Pumped Storage [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_StandbyEquityGuarantee', window );">Standby equity guarantee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3,300<span></span>
</td>
<td class="nump">&#8362; 12,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_MezzanineLoanMember', window );">Mezzanine Loan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_ManaraPSPProjectFinanceMember', window );">Manara PSP Project Finance [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 245,656<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_ManaraPSPProjectFinanceMember', window );">Manara PSP Project Finance [Member] | Ellomay Pumped Storage [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 65,452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ShevaMizrakotLtdMember', window );">Sheva Mizrakot Ltd [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Owned Israeli subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.667%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_IsraeliConsortiumLoanAgreementMember', window );">Israeli consortium Loan Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">December 31, 2027<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 338,000<span></span>
</td>
<td class="nump">&#8362; 1,270,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_IsraeliConsortiumLoanAgreementMember', window );">Israeli consortium Loan Agreement [Member] | Manara Project [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AggregateBookValueInvestmentInSubsidiary', window );">Aggregate amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 17,100<span></span>
</td>
<td class="nump">64,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GseThreeUkLimitedAndFondIcoInfraestructurasIiFiccMember', window );">Gse Three Uk Limited And Fond Ico Infraestructuras Ii, Ficc [Member] | Talasol Project [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Owned Israeli subsidiary</a></td>
<td class="nump">49.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">December 31, 2037<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 8,452<span></span>
</td>
<td class="nump">&#8362; 33,910<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ManaraProjectMember', window );">Manara Project [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 25,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LongTermBorrowingsRiseInCurrentYear', window );">Long-term facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 16,800<span></span>
</td>
<td class="nump">&#8362; 63,000<span></span>
</td>
<td class="nump">&#8364; 10,600<span></span>
</td>
<td class="nump">&#8362; 40,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ManaraProjectMember', window );">Manara Project [Member] | Senior Secured Tranche[Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaturityPeriod', window );">Repaid over a period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">19 years 6 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ManaraProjectMember', window );">Manara Project [Member] | Senior Secured Tranche[Member] | Ellomay Pumped Storage [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 5,527<span></span>
</td>
<td class="nump">&#8362; 20,875<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ManaraProjectMember', window );">Manara Project [Member] | Subordinated Secured B Tranche [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaturityPeriod', window );">Repaid over a period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">12 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ManaraProjectMember', window );">Manara Project [Member] | Construction Period Of Project [Member] | Senior Secured Tranche[Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.25%<span></span>
</td>
<td class="nump">3.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ManaraProjectMember', window );">Manara Project [Member] | Construction Period Of Project [Member] | Senior Secured Tranche[Member] | Bottom of range [member] | Ellomay Pumped Storage [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfMaximumGuaranteedAmount', window );">Interest rate range</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ManaraProjectMember', window );">Manara Project [Member] | Construction Period Of Project [Member] | Subordinated Secured B Tranche [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.35%<span></span>
</td>
<td class="nump">4.35%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ManaraProjectMember', window );">Manara Project [Member] | Actual Completion Date Of Project [Member] | Senior Secured Tranche[Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.40%<span></span>
</td>
<td class="nump">2.40%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ManaraProjectMember', window );">Manara Project [Member] | Actual Completion Date Of Project [Member] | Subordinated Secured B Tranche [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.90%<span></span>
</td>
<td class="nump">3.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ManaraProjectMember', window );">Manara Project [Member] | Commercial Operation [Member] | Senior Secured Tranche[Member] | Top of range [member] | Ellomay Pumped Storage [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart1LineItems', window );"><strong>Loans (Details) - Part-1 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfMaximumGuaranteedAmount', window );">Interest rate range</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.78%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AggregateBookValueInvestmentInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate book value of investment in subsidiary.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AggregateBookValueInvestmentInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LoansDetailsPart1LineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LoansDetailsPart1LineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LongTermBorrowingsRiseInCurrentYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>It represents long term borrowings rise in current year.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LongTermBorrowingsRiseInCurrentYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_MaturityPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Maturity period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_MaturityPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_MinorityPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Minority percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_MinorityPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_NumberOfSplittingOfLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>It represents number of splitting of loans.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_NumberOfSplittingOfLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfMaximumGuaranteedAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of maximum guaranteed amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfMaximumGuaranteedAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_StandbyEquityGuarantee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the value of standby equity guarantee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_StandbyEquityGuarantee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsMaturity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maturity of borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsMaturity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2023-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
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<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="4">1 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
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<div>EUR (&#8364;)</div>
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<div>EUR (&#8364;)</div>
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<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2023 </div>
<div>ILS (&#8362;)</div>
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<th class="th"><div>Jun. 30, 2023</div></th>
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<div>EUR (&#8364;)</div>
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<th class="th">
<div>Sep. 30, 2018 </div>
<div>EUR (&#8364;)</div>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 353<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 18,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.65%<span></span>
</td>
<td class="nump">5.65%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAnnualInterestRate', window );">Fixed interest rate</a></td>
<td class="nump">5.95%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.05%<span></span>
</td>
<td class="nump">6.05%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_TalasolProjectMember', window );">Talasol Project [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRateBasis', window );">Annual interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">C.In order to minimize the interest-rate risk resulting from liabilities to banks and financing institutions linked to the Euribor, the Company executed swap transactions.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_SpanishSubsidiariesMember', window );">Spanish subsidiaries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DescriptionOfDebtEquityRatioAndHoldings', window );">Goor loan agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The
Facility Agreement provides for mandatory prepayment upon the occurrence of certain events and includes various customary representations,
warranties and covenants, including covenants to maintain a DSCR on an aggregate basis not lower than 1.05:1, and not to make distributions
unless, among other things: (i) the DSCR, on an aggregate basis, is equal to or higher than 1.15:1.0, (ii) the first instalment of the
Project Finance has been repaid, (iii) no amount under the revolving credit tranche has been withdrawn and not fully repaid and no drawdowns
of the revolving credit tranche are expected within the next six months, and (iv) the Subsidiaries&#8217; net debt to regulatory value
(as such terms are defined in the Facility Agreement) ratio is equal to or higher than 0.7:1.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">December
2037<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRateBasis', window );">Annual interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Euribor 6 months plus a margin of 2% (with a zero
interest floor) and repaid semi-annually on June 20 and December 20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_PhotovoltaicPlantsSubsidiariesMember', window );">Photovoltaic Plants Subsidiaries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 23,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AggregateNominalPurchasePrice', window );">Aggregate nominal purchase price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 14,850<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AggregateBookValueInvestmentInSubsidiary', window );">Aggregate amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 14,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransactionAxis=ello_TrancheOneMember', window );">Tranche One [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaturityPeriod', window );">Repaid over a period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">12 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NumberOfPaymentsInstallment', window );">/Number of installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">144 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransactionAxis=ello_TrancheTwoMember', window );">Tranche Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaturityPeriod', window );">Repaid over a period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">12 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NumberOfPaymentsInstallment', window );">/Number of installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">144 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransactionAxis=ello_TrancheThreeMember', window );">Tranche Three [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaturityPeriod', window );">Repaid over a period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">12 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NumberOfPaymentsInstallment', window );">/Number of installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">144 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransactionAxis=ello_TrancheFourMember', window );">Tranche Four [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaturityPeriod', window );">Repaid over a period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">12 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NumberOfPaymentsInstallment', window );">/Number of installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">144 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_SeniorSecuredTrancheMember', window );">Senior Secured Tranche[Member] | Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.15%<span></span>
</td>
<td class="nump">5.15%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_RevolvingCreditFacility1Member', window );">Revolving Credit Facility1 Member | Spanish subsidiaries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember', window );">Swap contract [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Aggregate amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember', window );">Swap contract [member] | Spanish subsidiaries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">December 2037<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Aggregate amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 17,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRateBasis', window );">Annual interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Euribor 6 month rate with a fixed 6 month rate of
approximately 1%, resulting in a fixed annual interest rate of approximately 3%.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GoorLoanAgreementMember', window );">Goor Loan Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaturityPeriod', window );">Repaid over a period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">12 years 3 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountWithdrawnFromLoanAccount', window );">Withdrawn loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 5,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GoorLoanAgreementMember', window );">Goor Loan Agreement [Member] | Tranche One [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3,510<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAnnualInterestRate', window );">Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.45%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GoorLoanAgreementMember', window );">Goor Loan Agreement [Member] | Tranche Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,090<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAnnualInterestRate', window );">Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.65%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GoorLoanAgreementMember', window );">Goor Loan Agreement [Member] | Credit Facility [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">370<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_OudeTongeLoanAgreementMember', window );">Oude Tonge Loan Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountWithdrawnFromLoanAccount', window );">Withdrawn loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4,850<span></span>
</td>
<td class="nump">&#8364; 4,850<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OnCallCreditFacility', window );">Variable interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_OudeTongeLoanAgreementMember', window );">Oude Tonge Loan Agreement [Member] | Tranche One [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,150<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_OudeTongeLoanAgreementMember', window );">Oude Tonge Loan Agreement [Member] | Tranche Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,540<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_OudeTongeLoanAgreementMember', window );">Oude Tonge Loan Agreement [Member] | Tranche Three [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 160<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.40%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaturityPeriod', window );">Repaid over a period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">12 years 3 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_RabobankMember', window );">Rabobank [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAnnualInterestRate', window );">Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.95%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_RabobankMember', window );">Rabobank [Member] | Groen Gas Oude-Tonge [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_LudaAndEllomayLuxemburgMember', window );">Luda And Ellomay Luxemburg Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DescriptionOfDebtEquityRatioAndHoldings', window );">Goor loan agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">that Groen Goor and Groen Gas Oude Tonge, as applicable, will not make distributions
to its shareholders for a period of two years following the execution of the Loan Agreement, (b) that Groen Goor will not make distributions
or repurchase its shares so long as the equity (including owners loans) to total assets ratio of Groen Goor is less than 40%, (c) that
in the event the equity (including owners loans) to total assets ratio of Groen Goor and Groen Gas Oude Tonge will be below 40%, its
shareholders will invest the equity required in order to increase this ratio to 40%, pro rata to their holdings in Groen Goor and Groen
Gas Oude Tonge, as applicable, and up to a maximum of &#8364;1.2 million<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GroenGasGelderlAndBvMember', window );">Groen Gas Gelderl And Bv Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaturityPeriod', window );">Repaid over a period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OnCallCreditFacility', window );">Variable interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NumberOfPaymentsInstallment', window );">/Number of installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">56 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DepositAsDebtServiceFund', window );">Aggregate amount of withdrawn</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6,900<span></span>
</td>
<td class="nump">&#8364; 6,900<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RemainingBorrowingsAmount', window );">Outstanding principal amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,890<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">August 2025<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaturityPeriodTerm', window );">Maturity period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GroenGasGelderlAndBvMember', window );">Groen Gas Gelderl And Bv Member | Tranche One [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,453<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.60%<span></span>
</td>
<td class="nump">3.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GroenGasGelderlAndBvMember', window );">Groen Gas Gelderl And Bv Member | Tranche Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAnnualInterestRate', window );">Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GroenGasGelderlAndBvMember', window );">Groen Gas Gelderl And Bv Member | Tranche Three [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="nump">&#8364; 400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="nump">3.55%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GroenGasGelderlAndBvMember', window );">Groen Gas Gelderl And Bv Member | Tranche Four [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,847<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAnnualInterestRate', window );">Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GroenGasGelderlAndBvMember', window );">Groen Gas Gelderl And Bv Member | New Facilities Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ExtensionOfMaturityTermPeriod', window );">Extension of maturity period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GroenGasGelderlAndBvMember', window );">Groen Gas Gelderl And Bv Member | New Facilities Agreement [Member] | Talasol Project [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart2LineItems', window );"><strong>Loans (Details) - Part-2 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DepositAsDebtServiceFund', window );">Aggregate amount of withdrawn</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AggregateBookValueInvestmentInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate book value of investment in subsidiary.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AggregateBookValueInvestmentInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AggregateNominalPurchasePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate nominal purchase price.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AggregateNominalPurchasePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AmountWithdrawnFromLoanAccount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount withdrawn from loan account.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AmountWithdrawnFromLoanAccount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DepositAsDebtServiceFund">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the deposit as debt service fund.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DepositAsDebtServiceFund</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DescriptionOfDebtEquityRatioAndHoldings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Description of Debt Equity ratio and holdings.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DescriptionOfDebtEquityRatioAndHoldings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ExtensionOfMaturityTermPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represent the extension of loan maturity term period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ExtensionOfMaturityTermPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_FixedAnnualInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the fixed annual interest rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FixedAnnualInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LoansDetailsPart2LineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LoansDetailsPart2LineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_MaturityPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Maturity period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_MaturityPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_MaturityPeriodTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represent the period of loan maturity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_MaturityPeriodTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_NumberOfPaymentsInstallment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represent the number of installment payment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_NumberOfPaymentsInstallment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_OnCallCreditFacility">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>On-call credit facility.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OnCallCreditFacility</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RemainingBorrowingsAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Remaining principle Amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RemainingBorrowingsAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRateBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The basis (reference rate) used for calculation of the interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRateBasis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsMaturity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maturity of borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsMaturity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal or face amount of a financial instrument, used to calculate payments made on that instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_TalasolProjectMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_TalasolProjectMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_SpanishSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_SpanishSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_PhotovoltaicPlantsSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_PhotovoltaicPlantsSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_TransactionAxis=ello_TrancheOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TransactionAxis=ello_TrancheOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_TransactionAxis=ello_TrancheTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TransactionAxis=ello_TrancheTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_TransactionAxis=ello_TrancheThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TransactionAxis=ello_TrancheThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_TransactionAxis=ello_TrancheFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TransactionAxis=ello_TrancheFourMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ello_SeniorSecuredTrancheMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ello_SeniorSecuredTrancheMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ello_RevolvingCreditFacility1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ello_RevolvingCreditFacility1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GoorLoanAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GoorLoanAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ello_CreditFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ello_CreditFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_OudeTongeLoanAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_OudeTongeLoanAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_RabobankMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_RabobankMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_GroenGasOudeTongeBVMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_GroenGasOudeTongeBVMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_LudaAndEllomayLuxemburgMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_LudaAndEllomayLuxemburgMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GroenGasGelderlAndBvMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GroenGasGelderlAndBvMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ello_NewFacilitiesAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ello_NewFacilitiesAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>96
<FILENAME>R73.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583039450960">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans (Details) - Part-3<br> &#8364; in Thousands, &#8362; in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th"><div>Apr. 30, 2019</div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th">
<div>Mar. 12, 2019 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart3LineItems', window );"><strong>Loans (Details) - Part-3 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 353,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 18,400<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.65%<span></span>
</td>
<td class="nump">5.65%<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_TalasolProjectMember', window );">Talasol Project [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart3LineItems', window );"><strong>Loans (Details) - Part-3 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRateBasis', window );">Annual interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">C.In order to minimize the interest-rate risk resulting from liabilities to banks and financing institutions linked to the Euribor, the Company executed swap transactions.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_TalasolProjectMember', window );">Talasol Project [Member] | Thirty June Two Thousand Forty Four [Member] | New Facilities Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart3LineItems', window );"><strong>Loans (Details) - Part-3 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="nump">&#8364; 155,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Maturity date</a></td>
<td class="text">June 30, 2044<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_TalasolProjectMember', window );">Talasol Project [Member] | Thirty One December Two Thousand Forty Two [Member] | New Facilities Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart3LineItems', window );"><strong>Loans (Details) - Part-3 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="nump">&#8364; 20,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Maturity date</a></td>
<td class="text">December 31, 2042<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ManaraProjectMember', window );">Manara Project [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart3LineItems', window );"><strong>Loans (Details) - Part-3 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 25,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Floating interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GseThreeUkLimitedAndFondIcoInfraestructurasIiFiccMember', window );">Gse Three Uk Limited And Fond Ico Infraestructuras Ii, Ficc [Member] | Talasol Project [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LoansDetailsPart3LineItems', window );"><strong>Loans (Details) - Part-3 [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Amount of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 8,452<span></span>
</td>
<td class="nump">&#8362; 33,910<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsMaturity', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">December 31, 2037<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Owned Israeli subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfMinorityInterestOfOwnershipInterestInAssociate', window );">Owns of Talasol</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRateBasis', window );">Annual interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Euribor 6 mount plus 5.27%.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LoansDetailsPart3LineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LoansDetailsPart3LineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfMinorityInterestOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>It represents percentage of minority interest of ownership interest in associate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfMinorityInterestOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRateBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The basis (reference rate) used for calculation of the interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRateBasis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsMaturity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maturity of borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsMaturity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2023-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
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<td>dtr-types:percentItemType</td>
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<td>na</td>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_TalasolProjectMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ello_ThirtyJuneTwoThousandFortyFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ello_ThirtyJuneTwoThousandFortyFourMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ello_NewFacilitiesAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ello_NewFacilitiesAgreementMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ello_ThirtyOneDecemberTwoThousandFortyTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ello_ThirtyOneDecemberTwoThousandFortyTwoMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_ManaraProjectMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_GseThreeUkLimitedAndFondIcoInfraestructurasIiFiccMember</td>
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<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583023301760">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Loans (Details) - Schedule of Loans - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_CurrentMaturitiesMember', window );">Current Maturities [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturities', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 9,784<span></span>
</td>
<td class="nump">&#8364; 12,815<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_BankLoanMember', window );">Bank Loan [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturities', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">237,781<span></span>
</td>
<td class="nump">229,466<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_BankLoanMember', window );">Bank Loan [Member] | Bank Of Israel Interest Rate [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturities', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 5,509<span></span>
</td>
<td class="nump">&#8364; 2,986<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRateBasis', window );">Borrowings, interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Bank of Israel interest rate<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_BankLoanMember', window );">Bank Loan [Member] | Bottom of range [member] | Bank Of Israel Interest Rate [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestRate', window );">Current maturities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.35%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_BankLoanMember', window );">Bank Loan [Member] | Top of range [member] | Bank Of Israel Interest Rate [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestRate', window );">Current maturities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_BankLoanMember', window );">Bank Loan [Member] | EURIBOR [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturities', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 21,132<span></span>
</td>
<td class="nump">&#8364; 23,918<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRateBasis', window );">Borrowings, interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">EURIBOR<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_BankLoanMember', window );">Bank Loan [Member] | EURIBOR [Member] | Fixed interest rate [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturities', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 156,748<span></span>
</td>
<td class="nump">&#8364; 164,212<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRateBasis', window );">Borrowings, interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_BankLoanMember', window );">Bank Loan [Member] | EURIBOR [Member] | Bottom of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestRate', window );">Current maturities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_BankLoanMember', window );">Bank Loan [Member] | EURIBOR [Member] | Bottom of range [member] | Fixed interest rate [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestRate', window );">Current maturities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.58%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_BankLoanMember', window );">Bank Loan [Member] | EURIBOR [Member] | Top of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestRate', window );">Current maturities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_BankLoanMember', window );">Bank Loan [Member] | EURIBOR [Member] | Top of range [member] | Fixed interest rate [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestRate', window );">Current maturities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3.03%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_BankLoanMember', window );">Bank Loan [Member] | Consumer price index in Israel [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturities', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 64,176<span></span>
</td>
<td class="nump">&#8364; 51,165<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRateBasis', window );">Borrowings, interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Consumer price index in Israel<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_BankLoanMember', window );">Bank Loan [Member] | Consumer price index in Israel [Member] | Bottom of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestRate', window );">Current maturities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.75%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_BankLoanMember', window );">Bank Loan [Member] | Consumer price index in Israel [Member] | Top of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestRate', window );">Current maturities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4.78%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_ConsumerPriceIndexInIsraelMember', window );">Consumer price index in Israel [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturities', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 247,565<span></span>
</td>
<td class="nump">&#8364; 242,281<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_OtherLongTermLoansMember', window );">Other Long Term Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturities', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">29,373<span></span>
</td>
<td class="nump">21,582<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_OtherLongTermLoansMember', window );">Other Long Term Loans [Member] | EURIBOR [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturities', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 25,055<span></span>
</td>
<td class="nump">&#8364; 23,247<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRateBasis', window );">Borrowings, interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">EURIBOR(1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_OtherLongTermLoansMember', window );">Other Long Term Loans [Member] | EURIBOR [Member] | Bottom of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestRate', window );">Current maturities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.27%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_OtherLongTermLoansMember', window );">Other Long Term Loans [Member] | EURIBOR [Member] | Top of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestRate', window );">Current maturities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.20%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_OtherLongTermLoansMember', window );">Other Long Term Loans [Member] | Consumer price index in Israel [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturities', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 5,806<span></span>
</td>
<td class="nump">&#8364; 4,857<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRateBasis', window );">Borrowings, interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Consumer price index in Israel<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestRate', window );">Current maturities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_OtherLongTermLoansMember', window );">Other Long Term Loans [Member] | Fixed [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturities', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 3,512<span></span>
</td>
<td class="nump">&#8364; 3,478<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRateBasis', window );">Borrowings, interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Fixed<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_OtherLongTermLoansMember', window );">Other Long Term Loans [Member] | Fixed [Member] | Bottom of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestRate', window );">Current maturities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_OtherLongTermLoansMember', window );">Other Long Term Loans [Member] | Fixed [Member] | Top of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestRate', window );">Current maturities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.50%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_OtherLongTermLoansMember', window );">Other Long Term Loans [Member] | Current Maturities [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturities', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 5,000<span></span>
</td>
<td class="nump">&#8364; 10,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_OtherLongtermLoansTotalMember', window );">Other long-term loans total [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComposedAsFollowsLineItems', window );"><strong>Schedule of Composed as Follows: [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturities', window );">Linkage terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 34,373<span></span>
</td>
<td class="nump">&#8364; 31,582<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Loans provided by the minority (49%) holders in Talasol.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CurrentMaturities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represent the amount of current maturities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CurrentMaturities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_InterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_InterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfComposedAsFollowsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfComposedAsFollowsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRateBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The basis (reference rate) used for calculation of the interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRateBasis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ello_CurrentMaturitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ello_CurrentMaturitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ello_BankLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ello_BankLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_BankLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_BankLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=ello_BankOfIsraelInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ello_BankOfIsraelInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ello_EuriborMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ello_EuriborMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ello_ConsumerPriceIndexInIsraelMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ello_ConsumerPriceIndexInIsraelMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_ConsumerPriceIndexInIsraelMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_ConsumerPriceIndexInIsraelMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_OtherLongTermLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_OtherLongTermLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ello_FixedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ello_FixedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ifrs-full_CurrentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ifrs-full_CurrentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_OtherLongtermLoansTotalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_OtherLongtermLoansTotalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</html>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>98
<FILENAME>R75.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583039105904">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans (Details) - Schedule of Aggregate Annual Maturities - Loans [Member] - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfAggregateAnnualMaturitiesLineItems', window );"><strong>Schedule of Aggregate Annual Maturities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Long-term loans</a></td>
<td class="nump">&#8364; 267,154<span></span>
</td>
<td class="nump">&#8364; 251,048<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShorttermBorrowings', window );">Current maturities</a></td>
<td class="nump">14,308<span></span>
</td>
<td class="nump">22,187<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ShorttermLoansinDollars', window );">Short-term loans</a></td>
<td class="nump">476<span></span>
</td>
<td class="nump">628<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total</a></td>
<td class="nump">281,938<span></span>
</td>
<td class="nump">273,863<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_CorporateLoansMember', window );">Second year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfAggregateAnnualMaturitiesLineItems', window );"><strong>Schedule of Aggregate Annual Maturities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Long-term loans</a></td>
<td class="nump">14,049<span></span>
</td>
<td class="nump">13,811<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_CorporateLoansMember', window );">Third year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfAggregateAnnualMaturitiesLineItems', window );"><strong>Schedule of Aggregate Annual Maturities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Long-term loans</a></td>
<td class="nump">13,668<span></span>
</td>
<td class="nump">15,952<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_CorporateLoansMember', window );">Fourth year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfAggregateAnnualMaturitiesLineItems', window );"><strong>Schedule of Aggregate Annual Maturities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Long-term loans</a></td>
<td class="nump">15,828<span></span>
</td>
<td class="nump">14,759<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_CorporateLoansMember', window );">Fifth year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfAggregateAnnualMaturitiesLineItems', window );"><strong>Schedule of Aggregate Annual Maturities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Long-term loans</a></td>
<td class="nump">24,462<span></span>
</td>
<td class="nump">16,026<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_CorporateLoansMember', window );">Sixth year and thereafter [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfAggregateAnnualMaturitiesLineItems', window );"><strong>Schedule of Aggregate Annual Maturities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Long-term loans</a></td>
<td class="nump">&#8364; 199,147<span></span>
</td>
<td class="nump">&#8364; 190,500<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfAggregateAnnualMaturitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfAggregateAnnualMaturitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ShorttermLoansinDollars">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represent the amount of short-term loans.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ShorttermLoansinDollars</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPortionOfLongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPortionOfLongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_CorporateLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_CorporateLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>99
<FILENAME>R76.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583028436048">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans (Details) - Schedule of Movement in Liabilities Deriving from Financing Activities - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesLineItems', window );"><strong>Schedule of Movement in Liabilities Deriving from Financing Activities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Balance Beginning</a></td>
<td class="nump">&#8364; 384,291<span></span>
</td>
<td class="nump">&#8364; 356,194<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ChangesFromFinancingActivitiesAbstract', window );"><strong>Changes from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Proceeds from issue of debentures</a></td>
<td class="nump">55,808<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RepaymentOfDebentures', window );">Repayment of debentures</a></td>
<td class="num">(17,763)<span></span>
</td>
<td class="num">(19,764)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Receipt of loans</a></td>
<td class="nump">32,157<span></span>
</td>
<td class="nump">215,170<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayment of loans</a></td>
<td class="num">(12,736)<span></span>
</td>
<td class="num">(153,751)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestPaidClassifiedAsFinancingActivities', window );">Accrued interest</a></td>
<td class="nump">4,284<span></span>
</td>
<td class="nump">2,488<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LinkageValueOfLoansAndBorrowings', window );">Linkage</a></td>
<td class="nump">1,849<span></span>
</td>
<td class="nump">2,029<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_BorrowingsTransactionCosts', window );">Transaction costs related to borrowings</a></td>
<td class="num">(240)<span></span>
</td>
<td class="num">(3,082)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IssuanceOfCapitalToNonControllingInterest', window );">Issuance of capital note to non-controlling interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,958)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransferToDisposalGroupsHeldForSaleinDollars', window );">Transfer to disposal groups held for sale</a></td>
<td class="num">(13,047)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CashFlowsFromUsedInFinancingActivities1', window );">Total net financing liabilities</a></td>
<td class="nump">434,603<span></span>
</td>
<td class="nump">395,326<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EffectOfChangesInForeignExchangeRates', window );">Effect of changes in foreign exchange rates</a></td>
<td class="num">(12,578)<span></span>
</td>
<td class="num">(11,035)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Balance Ending</a></td>
<td class="nump">422,025<span></span>
</td>
<td class="nump">384,291<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_LoansAndBorrowingsMember', window );">Loans and borrowings [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesLineItems', window );"><strong>Schedule of Movement in Liabilities Deriving from Financing Activities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Balance Beginning</a></td>
<td class="nump">273,863<span></span>
</td>
<td class="nump">218,895<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ChangesFromFinancingActivitiesAbstract', window );"><strong>Changes from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Proceeds from issue of debentures</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RepaymentOfDebentures', window );">Repayment of debentures</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Receipt of loans</a></td>
<td class="nump">32,157<span></span>
</td>
<td class="nump">215,170<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayment of loans</a></td>
<td class="num">(12,736)<span></span>
</td>
<td class="num">(153,751)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestPaidClassifiedAsFinancingActivities', window );">Accrued interest</a></td>
<td class="nump">4,284<span></span>
</td>
<td class="nump">2,488<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LinkageValueOfLoansAndBorrowings', window );">Linkage</a></td>
<td class="nump">1,849<span></span>
</td>
<td class="nump">2,029<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_BorrowingsTransactionCosts', window );">Transaction costs related to borrowings</a></td>
<td class="num">(686)<span></span>
</td>
<td class="num">(3,861)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IssuanceOfCapitalToNonControllingInterest', window );">Issuance of capital note to non-controlling interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,958)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransferToDisposalGroupsHeldForSaleinDollars', window );">Transfer to disposal groups held for sale</a></td>
<td class="num">(13,047)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CashFlowsFromUsedInFinancingActivities1', window );">Total net financing liabilities</a></td>
<td class="nump">285,684<span></span>
</td>
<td class="nump">277,012<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EffectOfChangesInForeignExchangeRates', window );">Effect of changes in foreign exchange rates</a></td>
<td class="num">(3,746)<span></span>
</td>
<td class="num">(3,149)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Balance Ending</a></td>
<td class="nump">281,938<span></span>
</td>
<td class="nump">273,863<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=ello_ConvertibleDebenturesMember', window );">Debentures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesLineItems', window );"><strong>Schedule of Movement in Liabilities Deriving from Financing Activities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Balance Beginning</a></td>
<td class="nump">110,428<span></span>
</td>
<td class="nump">137,299<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ChangesFromFinancingActivitiesAbstract', window );"><strong>Changes from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Proceeds from issue of debentures</a></td>
<td class="nump">55,808<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RepaymentOfDebentures', window );">Repayment of debentures</a></td>
<td class="num">(17,763)<span></span>
</td>
<td class="num">(19,764)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Receipt of loans</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayment of loans</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestPaidClassifiedAsFinancingActivities', window );">Accrued interest</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LinkageValueOfLoansAndBorrowings', window );">Linkage</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_BorrowingsTransactionCosts', window );">Transaction costs related to borrowings</a></td>
<td class="nump">446<span></span>
</td>
<td class="nump">779<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IssuanceOfCapitalToNonControllingInterest', window );">Issuance of capital note to non-controlling interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransferToDisposalGroupsHeldForSaleinDollars', window );">Transfer to disposal groups held for sale</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CashFlowsFromUsedInFinancingActivities1', window );">Total net financing liabilities</a></td>
<td class="nump">148,919<span></span>
</td>
<td class="nump">118,314<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EffectOfChangesInForeignExchangeRates', window );">Effect of changes in foreign exchange rates</a></td>
<td class="num">(8,832)<span></span>
</td>
<td class="num">(7,886)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Balance Ending</a></td>
<td class="nump">&#8364; 140,087<span></span>
</td>
<td class="nump">&#8364; 110,428<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_BorrowingsTransactionCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Transaction costs (credits) related to borrowings.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_BorrowingsTransactionCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CashFlowsFromUsedInFinancingActivities1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CashFlowsFromUsedInFinancingActivities1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ChangesFromFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ChangesFromFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_EffectOfChangesInForeignExchangeRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Effect of changes in foreign exchange rates</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_EffectOfChangesInForeignExchangeRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_IssuanceOfCapitalToNonControllingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>It represents issuance of capital to non-controlling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_IssuanceOfCapitalToNonControllingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LinkageValueOfLoansAndBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Linkage value of loans and borrowings.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LinkageValueOfLoansAndBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RepaymentOfDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RepaymentOfDebentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfMovementInLiabilitiesDerivingFromFinancingActivitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_TransferToDisposalGroupsHeldForSaleinDollars">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represent the amount of transfer to disposal groups held for sale.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TransferToDisposalGroupsHeldForSaleinDollars</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestPaidClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for interest paid, classified as financing activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 31<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestPaidClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from borrowings obtained. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the issuing of bonds, notes and debentures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to settle borrowings, classified as financing activities. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ello_LoansAndBorrowingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ello_LoansAndBorrowingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=ello_ConvertibleDebenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=ello_ConvertibleDebenturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>100
<FILENAME>R77.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583027745264">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Debentures (Details)<br> &#8364; / shares in Units, &#8362; / shares in Units, &#8362; in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="8">1 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Feb. 01, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Feb. 01, 2023 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Aug. 17, 2022 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Jun. 06, 2022</div></th>
<th class="th">
<div>Feb. 23, 2021 </div>
<div>EUR (&#8364;) </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Oct. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Oct. 31, 2021 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Feb. 23, 2021 </div>
<div>EUR (&#8364;) </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Feb. 23, 2021 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Oct. 26, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Oct. 26, 2020 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Jul. 25, 2019 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jul. 25, 2019 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Feb. 01, 2023 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Oct. 31, 2021 </div>
<div>ILS (&#8362;) </div>
<div>&#8362; / shares</div>
</th>
<th class="th">
<div>Jun. 25, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Feb. 23, 2021 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Feb. 23, 2021 </div>
<div>ILS (&#8362;) </div>
<div>&#8362; / shares</div>
</th>
<th class="th">
<div>Oct. 26, 2020 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Jul. 25, 2019 </div>
<div>ILS (&#8362;)</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesCDebenturesMember', window );">Series C Debentures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Aggregate princiipal amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 25,442,000<span></span>
</td>
<td class="nump">&#8364; 32,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 25,442,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 38,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 22,690,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GrossProceedsFromIssueOfBondsNotesAndDebentures', window );">Gross proceeds from offering</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 32,529,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">41,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Net proceeds from offering</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 25,534,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 40,300,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 22,317,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PrincipalAmountOfEachUnitComprised', window );">Principal amount of each unit comprised (in New Shekels) | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebentureIssuedPerUnitPrice', window );">Debenture issued per unit price (in New Shekels per share) | &#8362; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 1.0135<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AggregateRepaymentOfDebenture', window );">Aggregate repayment of debenture (in Dollars) | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesPayableTerm', window );">Debentures payable term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The
principal amount of Series C Debentures is repayable in five (5) unequal annual installments as follows: on June 30, 2021 10% of the
principal shall be paid, on June 30 of each of the years 2022 and 2023, 15% of the principal shall be paid and on June 30 of each of
the years 2024 and 2025, 30% of the principal shall be paid. The Series C Debentures originally bore a fixed interest at the rate of
3.3% per year (that is not linked to the Israeli CPI or otherwise), payable semi-annually on June 30 and December 31 commencing December
31, 2019 through June 30, 2025 (inclusive).<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IncreaseInPercentageOfInterest', window );">Annual interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfDistributableProfit', window );">Percentage of distributable profit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">75.00%<span></span>
</td>
<td class="nump">75.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Liabilities amount (in Euro)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesCDebenturesMember', window );">Series C Debentures [Member] | Bottom of Range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.30%<span></span>
</td>
<td class="nump">0.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.25%<span></span>
</td>
<td class="nump">0.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.25%<span></span>
</td>
<td class="nump">0.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesCDebenturesMember', window );">Series C Debentures [Member] | Top of Range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.55%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.50%<span></span>
</td>
<td class="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesCDebenturesMember', window );">Series C Debentures [Member] | Israel, New Shekels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Aggregate princiipal amount | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 120,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 100,939<span></span>
</td>
<td class="nump">&#8362; 154,000<span></span>
</td>
<td class="nump">&#8362; 89,065<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GrossProceedsFromIssueOfBondsNotesAndDebentures', window );">Gross proceeds from offering | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 121,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 102,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 164,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 89,065<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Net proceeds from offering | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 101,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 162,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 87,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount (in New Shekels) | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesOneOptionsMember', window );">Series One Options Member | Israel, New Shekels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Aggregate princiipal amount | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 385,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesDDebenturesMember', window );">Series D Debentures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Aggregate princiipal amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 15,627,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 15,627,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Net proceeds from offering</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 15,577,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesPayableTerm', window );">Debentures payable term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The principal amount of
the Series D Convertible Debentures is repayable in one installment on December 31, 2026. The Series D Convertible Debentures bear a
fixed interest at the rate of 1.2% per year (that is not linked to the Israeli CPI or otherwise), payable semi-annually on June 30 and
December 31 commencing June 30, 2021, through December 31, 2026 (inclusive).<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.20%<span></span>
</td>
<td class="nump">1.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity (in Euro)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 70,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 70,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 50,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountOfImmediateRepaymentProvision', window );">Amount of immediate repayment provision (in Euro)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 75,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 75,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 60,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare', window );">Debentures Convertible Into Ordinary Shares Par Value Per Share (in New Shekels per share) | (per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 41.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 41.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 165<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebtInstrumentConversionPrice', window );">Debt Instrument Conversion Price | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 41.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 41.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt', window );">Long Term Liabilities Recognized In Connection With Convertible Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,890,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,890,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Liabilities amount (in Euro)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 82,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DecreaseInAnnualInterestRateForDebentures', window );">Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.75%<span></span>
</td>
<td class="nump">0.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountOfExpansionOfAggregateParValueOfDebentures', window );">Amount Of Expansion Of Aggregate Par Value Of Debentures (in New Shekels) | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesDDebenturesMember', window );">Series D Debentures [Member] | Israel, New Shekels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Aggregate princiipal amount | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 62,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GrossProceedsFromIssueOfBondsNotesAndDebentures', window );">Gross proceeds from offering | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">62,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Net proceeds from offering | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 61,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare', window );">Debentures Convertible Into Ordinary Shares Par Value Per Share (in New Shekels per share) | &#8362; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebtInstrumentConversionPrice', window );">Debt Instrument Conversion Price | &#8362; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 165<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt', window );">Long Term Liabilities Recognized In Connection With Convertible Debt | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 7,504<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesEDebenturesMember', window );">Series E Debentures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Aggregate princiipal amount</a></td>
<td class="nump">&#8364; 58,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 220,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Net proceeds from offering</a></td>
<td class="nump">&#8364; 56,000,000<span></span>
</td>
<td class="nump">&#8362; 218,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Fixed interest rate</a></td>
<td class="nump">6.05%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.05%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity (in Euro)</a></td>
<td class="nump">&#8364; 75,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountOfImmediateRepaymentProvision', window );">Amount of immediate repayment provision (in Euro)</a></td>
<td class="nump">&#8364; 80<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfDistributableProfit', window );">Percentage of distributable profit</a></td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesEDebenturesMember', window );">Series E Debentures [Member] | Bottom of Range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IncreaseInPercentageOfInterest', window );">Annual interest rate</a></td>
<td class="nump">0.25%<span></span>
</td>
<td class="nump">0.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesEDebenturesMember', window );">Series E Debentures [Member] | Top of Range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IncreaseInPercentageOfInterest', window );">Annual interest rate</a></td>
<td class="nump">0.75%<span></span>
</td>
<td class="nump">0.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesEDebenturesMember', window );">Series E Debentures [Member] | Ellomay Luzon Energy [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Ownership percentage</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesEDebenturesMember', window );">Series E Debentures [Member] | Dorad [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Ownership percentage</a></td>
<td class="nump">18.75%<span></span>
</td>
<td class="nump">18.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_NetFinancialDebtMember', window );">Net Financial Debt [Member] | Series C Debentures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfEquityOnConsolidatedBasis', window );">Percentage of equity on consolidated basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_NetFinancialDebtMember', window );">Net Financial Debt [Member] | Series D Debentures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfImmediateRepaymentProvision', window );">Percentage of immediate repayment provision</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">68.00%<span></span>
</td>
<td class="nump">68.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">67.50%<span></span>
</td>
<td class="nump">67.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfInterestIncreaseProvision', window );">Percentage of interest increase provision</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfEquityOnConsolidatedBasis', window );">Percentage of equity on consolidated basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountOfAdjustmentOfBalanceSheetEquity', window );">Equity rate (in Dollars) | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 85,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_NetFinancialDebtMember', window );">Net Financial Debt [Member] | Series E Debentures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfImmediateRepaymentProvision', window );">Percentage of immediate repayment provision</a></td>
<td class="nump">65.00%<span></span>
</td>
<td class="nump">65.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfInterestIncreaseProvision', window );">Percentage of interest increase provision</a></td>
<td class="nump">60.00%<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfEquityOnConsolidatedBasis', window );">Percentage of equity on consolidated basis</a></td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_CompanyBalanceSheetMember', window );">Company Balance Sheet [Member] | Series D Debentures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity (in Euro)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 70,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_CompanyBalanceSheetMember', window );">Company Balance Sheet [Member] | Series E Debentures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsLineItems', window );"><strong>Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity (in Euro)</a></td>
<td class="nump">&#8364; 90,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AggregateRepaymentOfDebenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents amount of aggregate repayment of debenture.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AggregateRepaymentOfDebenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AmountOfAdjustmentOfBalanceSheetEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>It represents amount of adjustment of balance sheet equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AmountOfAdjustmentOfBalanceSheetEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AmountOfExpansionOfAggregateParValueOfDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>It represents amount of expansion of aggregate par value of debentures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AmountOfExpansionOfAggregateParValueOfDebentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AmountOfImmediateRepaymentProvision">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of immediate repayment provision.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AmountOfImmediateRepaymentProvision</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DebentureIssuedPerUnitPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debenture issued per unit price.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DebentureIssuedPerUnitPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents amount of debentures convertible into ordinary shares par value per share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DebenturesDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DebenturesDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DebenturesPayableTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debentures payable term.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DebenturesPayableTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DebtInstrumentConversionPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents conversion price of debt instruments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DebtInstrumentConversionPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DecreaseInAnnualInterestRateForDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Decrease in annual interest rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DecreaseInAnnualInterestRateForDebentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_GrossProceedsFromIssueOfBondsNotesAndDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gross proceeds from offering.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_GrossProceedsFromIssueOfBondsNotesAndDebentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_IncreaseInPercentageOfInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase in percentage of interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_IncreaseInPercentageOfInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents amount of long term liabilities recognized in connection with convertible debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfDistributableProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of distributable profit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfDistributableProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfEquityOnConsolidatedBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of equity on consolidated basis.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfEquityOnConsolidatedBasis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfImmediateRepaymentProvision">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of immediate repayment provision.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfImmediateRepaymentProvision</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfInterestIncreaseProvision">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of interest increase provision.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfInterestIncreaseProvision</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PrincipalAmountOfEachUnitComprised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Principal amount of each unit comprised.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PrincipalAmountOfEachUnitComprised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotesAndDebenturesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of notes and debentures issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotesAndDebenturesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal or face amount of a financial instrument, used to calculate payments made on that instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the issuing of bonds, notes and debentures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2023-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesCDebenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesCDebenturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_ILS">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_ILS</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesOneOptionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesOneOptionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesDDebenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesDDebenturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesEDebenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesEDebenturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_EllomayLuzonEnergyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_EllomayLuzonEnergyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_DoradMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_DoradMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_NetFinancialDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_NetFinancialDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_CompanyBalanceSheetMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_CompanyBalanceSheetMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583028999936">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Debentures (Details) - Schedule of Debentures - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=ifrs-full_AtFairValueMember', window );">Face value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsScheduleofDebenturesLineItems', window );"><strong>Schedule of Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures</a></td>
<td class="nump">&#8364; 141,689<span></span>
</td>
<td class="nump">&#8364; 111,911<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Less current maturities</a></td>
<td class="nump">35,698<span></span>
</td>
<td class="nump">19,078<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Total long-term debentures</a></td>
<td class="nump">105,991<span></span>
</td>
<td class="nump">92,833<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=ifrs-full_CarryingAmountMember', window );">Carrying amount [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsScheduleofDebenturesLineItems', window );"><strong>Schedule of Debentures [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures</a></td>
<td class="nump">140,087<span></span>
</td>
<td class="nump">110,428<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Less current maturities</a></td>
<td class="nump">35,200<span></span>
</td>
<td class="nump">18,714<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Total long-term debentures</a></td>
<td class="nump">&#8364; 104,887<span></span>
</td>
<td class="nump">&#8364; 91,714<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DebenturesDetailsScheduleofDebenturesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DebenturesDetailsScheduleofDebenturesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current notes and debentures issued and the current portion of non-current notes and debentures issued. [Refer: Notes and debentures issued]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current notes and debentures issued. [Refer: Notes and debentures issued]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of notes and debentures issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotesAndDebenturesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td>instant</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfFinancialLiabilitiesAxis=ifrs-full_AtFairValueMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfFinancialLiabilitiesAxis=ifrs-full_CarryingAmountMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583029537456">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Debentures (Details) - Schedule of Aggregate Annual Maturities<br> &#8364; in Thousands, $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesLineItems', window );"><strong>Schedule of Aggregate Annual Maturities [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Long-term debentures</a></td>
<td class="nump">&#8364; 104,887<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 91,714<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Current maturities</a></td>
<td class="nump">35,200<span></span>
</td>
<td class="nump">$ 38,933<span></span>
</td>
<td class="nump">18,714<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LongtermLoans', window );">Long-term loans</a></td>
<td class="nump">140,087<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">110,428<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">Second year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesLineItems', window );"><strong>Schedule of Aggregate Annual Maturities [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Long-term debentures</a></td>
<td class="nump">35,212<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37,779<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">Third year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesLineItems', window );"><strong>Schedule of Aggregate Annual Maturities [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Long-term debentures</a></td>
<td class="nump">28,692<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37,792<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">Fourth year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesLineItems', window );"><strong>Schedule of Aggregate Annual Maturities [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Long-term debentures</a></td>
<td class="nump">13,625<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,143<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">Fifth year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesLineItems', window );"><strong>Schedule of Aggregate Annual Maturities [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Long-term debentures</a></td>
<td class="nump">13,657<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsAndNotLaterThanSevenYearsMember', window );">Later than five years and not later than seven years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesLineItems', window );"><strong>Schedule of Aggregate Annual Maturities [Line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Long-term debentures</a></td>
<td class="nump">&#8364; 13,701<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DebenturesDetailsScheduleofAggregateAnnualMaturitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LongtermLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Long-term loans.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LongtermLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current notes and debentures issued and the current portion of non-current notes and debentures issued. [Refer: Notes and debentures issued]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsAndNotLaterThanSevenYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsAndNotLaterThanSevenYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>103
<FILENAME>R80.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583019219056">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Other Long-term Liabilities (Details) - Schedule of Other Long-Term Liabilities<br> &#8364; in Thousands, $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfOtherLongTermLiabilitiesAbstract', window );"><strong>Schedule of Other Long Term Liabilities [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WarrantLiability', window );">Warrants Liability (see Note 16)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 84<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 329<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherLiabilities', window );">Other liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">793<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,626<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentProvisionsForEmployeeBenefits', window );">Liabilities for employee&#8217;s benefits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">62<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">66<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentFinancialLiabilities', window );">Total Other Long-term Liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 939<span></span>
</td>
<td class="nump">$ 1,039<span></span>
</td>
<td class="nump">&#8364; 2,021<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Represents the long-term portion of the potential liability
in connection with the acquisition of rights in the Manara PSP. See Note 6B.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfOtherLongTermLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfOtherLongTermLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentProvisionsForEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current provisions for employee benefits. [Refer: Provisions for employee benefits]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentProvisionsForEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial liabilities that the entity does not separately disclose in the same statement or note. [Refer: Other financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B13<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B13_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph m<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_m&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WarrantLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of warrant liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WarrantLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>104
<FILENAME>R81.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
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</head>
<body>
<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583019033632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Leases (Details)<br> &#8364; in Thousands, &#8362; in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="9">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th" colspan="2">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th" colspan="2">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th" colspan="2">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsLineItems', window );"><strong>Leases (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RentPercentage', window );">Percentage of rent</a></td>
<td class="nump">2.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RentalTerms', window );">Rent years</a></td>
<td class="text">3 years<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Lease liability</a></td>
<td class="nump">&#8364; 24,380<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use asset</a></td>
<td class="nump">30,967<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 30,020<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 34,251<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PaymentToLeaseLiability', window );">Payment of lease liabilities</a></td>
<td class="nump">&#8364; 2,527<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AnnualRentIncreasesPercentage', window );">Annual rent increases percentage</a></td>
<td class="nump">2.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RightofuseAsset', window );">Right-of-use asset</a></td>
<td class="nump">&#8364; 2,142<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseOnLeaseLiabilities', window );">Interest expenses on lease liability (in New Shekels)</a></td>
<td class="nump">407<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">&#8362; 66<span></span>
</td>
<td class="nump">370<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">&#8362; 74<span></span>
</td>
<td class="nump">&#8364; 367<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">&#8362; 73<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DiscontinuedOperationsMember', window );">Discontinued Operation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsLineItems', window );"><strong>Leases (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation expenses</a></td>
<td class="nump">&#8364; 111<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 117<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 110<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_TalcoSolarLLCMember', window );">Talco Solar LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsLineItems', window );"><strong>Leases (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingLeaseAgreementTerm', window );">Operating Lease Agreement Term</a></td>
<td class="text">25-35 years<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">25-35 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AnnualRent', window );">Annual rent</a></td>
<td class="nump">&#8364; 207<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_EllomaySolarPhotovoltaicMember', window );">Ellomay Solar photovoltaic [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsLineItems', window );"><strong>Leases (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingLeaseAgreementTerm', window );">Operating Lease Agreement Term</a></td>
<td class="text">24 years and 11 months<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">24 years and 11 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeaseExpireDates', window );">Lease Expire dates</a></td>
<td class="text">July 2046<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">July 2046<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CapitalizedRent', window );">Capitalized rent</a></td>
<td class="nump">&#8364; 7,758<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">&#8362; 28,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_QuarterlyRent', window );">Quarterly rent (in New Shekels) | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">&#8362; 165<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Lease liability</a></td>
<td class="nump">10,629<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use asset</a></td>
<td class="nump">&#8364; 10,629<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_EllomaySolarItalyOneSrlMember', window );">Ellomay Solar Italy One Srl [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsLineItems', window );"><strong>Leases (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingLeaseAgreementTerm', window );">Operating Lease Agreement Term</a></td>
<td class="text">31 years<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">31 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CapitalizedRent', window );">Capitalized rent</a></td>
<td class="nump">&#8364; 397<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Lease liability</a></td>
<td class="nump">2,527<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PaymentToLeaseLiability', window );">Payment of lease liabilities</a></td>
<td class="nump">208<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_OfficeSpaceMember', window );">Office Space [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsLineItems', window );"><strong>Leases (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PaymentToLeaseLiability', window );">Payment of lease liabilities</a></td>
<td class="nump">262<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis=ello_MaterialLeaseAgreementsMember', window );">Material Lease Agreements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsLineItems', window );"><strong>Leases (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Lease liability</a></td>
<td class="nump">&#8364; 2,142<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="11"></td></tr>
<tr><td colspan="11"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
remainder of the depreciation and the interest is capitalized to fixed assets.</span></td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AnnualRent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of annual rent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AnnualRent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AnnualRentIncreasesPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Annual rent increases percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AnnualRentIncreasesPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CapitalizedRent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of capitalized rents to private lessors.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CapitalizedRent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LeaseExpireDates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Lease Expire dates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LeaseExpireDates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LeasesDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LeasesDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_OperatingLeaseAgreementTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Term of operating lease agreement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OperatingLeaseAgreementTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PaymentToLeaseLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represent the amount of payment to lease liability.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PaymentToLeaseLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_QuarterlyRent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the payment of quarterly rent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_QuarterlyRent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RentPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RentPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RentalTerms">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RentalTerms</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RightofuseAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Right-of-use asset.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RightofuseAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation expense. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseOnLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 53<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_53_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseOnLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities related to the entity's leases. Lease is a contract, or part of a contract, that conveys the right to use an underlying asset for a period of time in exchange for consideration.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term that do not meet the definition of investment property. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 53<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DiscontinuedOperationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DiscontinuedOperationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_TalcoSolarLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_TalcoSolarLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_EllomaySolarPhotovoltaicMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_EllomaySolarPhotovoltaicMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_EllomaySolarItalyOneSrlMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_EllomaySolarItalyOneSrlMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_OfficeSpaceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ello_OfficeSpaceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis=ello_MaterialLeaseAgreementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis=ello_MaterialLeaseAgreementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>105
<FILENAME>R82.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583025523504">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Leases (Details) - Schedule of Right-of-use Assets - Right-of-use assets [member] - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsScheduleofRightofuseAssetsLineItems', window );"><strong>Leases (Details) - Schedule of Right-of-use Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as beginning</a></td>
<td class="nump">&#8364; 30,020<span></span>
</td>
<td class="nump">&#8364; 23,367<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeaseAgreementsRightOfUseAssets', window );">Lease agreements entered into during the period</a></td>
<td class="nump">4,669<span></span>
</td>
<td class="nump">8,861<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation for the year</a></td>
<td class="num">(1,433)<span></span>
</td>
<td class="num">(1,366)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherRightOfUseAssets', window );">Other</a></td>
<td class="num">(287)<span></span>
</td>
<td class="num">(57)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EffectOfChangesInExchangeRatesToRightOfUseAssets', window );">Effect of changes in exchange rates</a></td>
<td class="num">(798)<span></span>
</td>
<td class="num">(785)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale', window );">Transfer to disposal groups held for sale</a></td>
<td class="num">(1,204)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as ending</a></td>
<td class="nump">30,967<span></span>
</td>
<td class="nump">30,020<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ello_BiogasMember', window );">Bio Gas [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsScheduleofRightofuseAssetsLineItems', window );"><strong>Leases (Details) - Schedule of Right-of-use Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as beginning</a></td>
<td class="nump">46<span></span>
</td>
<td class="nump">170<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeaseAgreementsRightOfUseAssets', window );">Lease agreements entered into during the period</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation for the year</a></td>
<td class="num">(26)<span></span>
</td>
<td class="num">(124)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherRightOfUseAssets', window );">Other</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EffectOfChangesInExchangeRatesToRightOfUseAssets', window );">Effect of changes in exchange rates</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale', window );">Transfer to disposal groups held for sale</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as ending</a></td>
<td class="nump">20<span></span>
</td>
<td class="nump">46<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_IT', window );">Italy [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsScheduleofRightofuseAssetsLineItems', window );"><strong>Leases (Details) - Schedule of Right-of-use Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as beginning</a></td>
<td class="nump">8,733<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeaseAgreementsRightOfUseAssets', window );">Lease agreements entered into during the period</a></td>
<td class="nump">2,527<span></span>
</td>
<td class="nump">8,861<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation for the year</a></td>
<td class="num">(262)<span></span>
</td>
<td class="num">(128)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherRightOfUseAssets', window );">Other</a></td>
<td class="num">(1,472)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EffectOfChangesInExchangeRatesToRightOfUseAssets', window );">Effect of changes in exchange rates</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale', window );">Transfer to disposal groups held for sale</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as ending</a></td>
<td class="nump">9,526<span></span>
</td>
<td class="nump">8,733<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsScheduleofRightofuseAssetsLineItems', window );"><strong>Leases (Details) - Schedule of Right-of-use Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as beginning</a></td>
<td class="nump">2,314<span></span>
</td>
<td class="nump">2,755<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeaseAgreementsRightOfUseAssets', window );">Lease agreements entered into during the period</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation for the year</a></td>
<td class="num">(126)<span></span>
</td>
<td class="num">(120)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherRightOfUseAssets', window );">Other</a></td>
<td class="nump">139<span></span>
</td>
<td class="num">(321)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EffectOfChangesInExchangeRatesToRightOfUseAssets', window );">Effect of changes in exchange rates</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale', window );">Transfer to disposal groups held for sale</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as ending</a></td>
<td class="nump">2,327<span></span>
</td>
<td class="nump">2,314<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ello_TalasolMember', window );">Talasol [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsScheduleofRightofuseAssetsLineItems', window );"><strong>Leases (Details) - Schedule of Right-of-use Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as beginning</a></td>
<td class="nump">7,183<span></span>
</td>
<td class="nump">7,587<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeaseAgreementsRightOfUseAssets', window );">Lease agreements entered into during the period</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation for the year</a></td>
<td class="num">(455)<span></span>
</td>
<td class="num">(404)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherRightOfUseAssets', window );">Other</a></td>
<td class="nump">867<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EffectOfChangesInExchangeRatesToRightOfUseAssets', window );">Effect of changes in exchange rates</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale', window );">Transfer to disposal groups held for sale</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as ending</a></td>
<td class="nump">7,595<span></span>
</td>
<td class="nump">7,183<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ello_PumpedStorageMember', window );">Pumped storage [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsScheduleofRightofuseAssetsLineItems', window );"><strong>Leases (Details) - Schedule of Right-of-use Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as beginning</a></td>
<td class="nump">10,413<span></span>
</td>
<td class="nump">11,352<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeaseAgreementsRightOfUseAssets', window );">Lease agreements entered into during the period</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation for the year</a></td>
<td class="num">(429)<span></span>
</td>
<td class="num">(473)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherRightOfUseAssets', window );">Other</a></td>
<td class="nump">110<span></span>
</td>
<td class="nump">228<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EffectOfChangesInExchangeRatesToRightOfUseAssets', window );">Effect of changes in exchange rates</a></td>
<td class="num">(669)<span></span>
</td>
<td class="num">(694)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale', window );">Transfer to disposal groups held for sale</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as ending</a></td>
<td class="nump">9,425<span></span>
</td>
<td class="nump">10,413<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_US', window );">USA [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsScheduleofRightofuseAssetsLineItems', window );"><strong>Leases (Details) - Schedule of Right-of-use Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as beginning</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeaseAgreementsRightOfUseAssets', window );">Lease agreements entered into during the period</a></td>
<td class="nump">2,142<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation for the year</a></td>
<td class="num">(24)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherRightOfUseAssets', window );">Other</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EffectOfChangesInExchangeRatesToRightOfUseAssets', window );">Effect of changes in exchange rates</a></td>
<td class="num">(44)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale', window );">Transfer to disposal groups held for sale</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as ending</a></td>
<td class="nump">2,074<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ello_TalmeiYosefMember', window );">Talmei Yosef [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsScheduleofRightofuseAssetsLineItems', window );"><strong>Leases (Details) - Schedule of Right-of-use Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as beginning</a></td>
<td class="nump">1,331<span></span>
</td>
<td class="nump">1,503<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeaseAgreementsRightOfUseAssets', window );">Lease agreements entered into during the period</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation for the year</a></td>
<td class="num">(111)<span></span>
</td>
<td class="num">(117)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherRightOfUseAssets', window );">Other</a></td>
<td class="nump">69<span></span>
</td>
<td class="nump">36<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EffectOfChangesInExchangeRatesToRightOfUseAssets', window );">Effect of changes in exchange rates</a></td>
<td class="num">(85)<span></span>
</td>
<td class="num">(91)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale', window );">Transfer to disposal groups held for sale</a></td>
<td class="num">(1,204)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Balance as ending</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">&#8364; 1,331<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_EffectOfChangesInExchangeRatesToRightOfUseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of effect of changes in exchange rates to right-of-use assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_EffectOfChangesInExchangeRatesToRightOfUseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LeaseAgreementsRightOfUseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of lease agreements right of use assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LeaseAgreementsRightOfUseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LeasesDetailsScheduleofRightofuseAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LeasesDetailsScheduleofRightofuseAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_OtherRightOfUseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>It represents other right of use assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OtherRightOfUseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationRightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation of right-of-use assets. [Refer: Depreciation and amortisation expense; Right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 53<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_53_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationRightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current assets or disposal groups classified as held for sale. [Refer: Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2023-01-01<br> -Paragraph 38<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_38&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term that do not meet the definition of investment property. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 53<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_RightofuseAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_RightofuseAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ello_BiogasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ello_BiogasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_IT">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_IT</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_ES">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_ES</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ello_TalasolMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ello_TalasolMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ello_PumpedStorageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ello_PumpedStorageMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ello_TalmeiYosefMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ello_TalmeiYosefMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583029535056">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Leases (Details) - Schedule of Maturity Analysis of Company's Lease Liabilities<br> &#8364; in Thousands, $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsScheduleofMaturityAnalysisofCompanysLeaseLiabilitiesLineItems', window );"><strong>Leases (Details) - Schedule of Maturity Analysis of Company's Lease Liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Lease Liability</a></td>
<td class="nump">&#8364; 24,380<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current maturities of lease liability</a></td>
<td class="nump">700<span></span>
</td>
<td class="nump">$ 774<span></span>
</td>
<td class="nump">&#8364; 745<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Long-term lease liability</a></td>
<td class="nump">23,680<span></span>
</td>
<td class="nump">$ 26,191<span></span>
</td>
<td class="nump">&#8364; 22,005<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ello_LessThanOneYearMember', window );">Less than one year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsScheduleofMaturityAnalysisofCompanysLeaseLiabilitiesLineItems', window );"><strong>Leases (Details) - Schedule of Maturity Analysis of Company's Lease Liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Lease Liability</a></td>
<td class="nump">700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ello_OneToFiveYearsMember', window );">One to five years [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsScheduleofMaturityAnalysisofCompanysLeaseLiabilitiesLineItems', window );"><strong>Leases (Details) - Schedule of Maturity Analysis of Company's Lease Liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Lease Liability</a></td>
<td class="nump">2,970<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ello_MoreThanFiveYearsMember', window );">More than five years [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LeasesDetailsScheduleofMaturityAnalysisofCompanysLeaseLiabilitiesLineItems', window );"><strong>Leases (Details) - Schedule of Maturity Analysis of Company's Lease Liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Lease Liability</a></td>
<td class="nump">&#8364; 20,710<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LeasesDetailsScheduleofMaturityAnalysisofCompanysLeaseLiabilitiesLineItems">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LeasesDetailsScheduleofMaturityAnalysisofCompanysLeaseLiabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities related to the entity's leases. Lease is a contract, or part of a contract, that conveys the right to use an underlying asset for a period of time in exchange for consideration.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ello_LessThanOneYearMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ello_OneToFiveYearsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ello_MoreThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ello_MoreThanFiveYearsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583033353936">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Leases (Details) - Schedule of Amounts Recognized in Profit or Loss<br> &#8364; in Thousands, &#8362; in Thousands</strong></div></th>
<th class="th" colspan="9">12 Months Ended</th>
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<tr>
<th class="th" colspan="2">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th" colspan="2">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2022 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th" colspan="2">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2021 </div>
<div>ILS (&#8362;)</div>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfAmountsRecognizedInProfitOrLossAbstract', window );"><strong>Schedule of Amounts Recognized in Profit or Loss [Member]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation on right-of-use asset</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">&#8364; 718<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 743<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 774<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseOnLeaseLiabilities', window );">Interest expenses on lease liability</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 407<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">&#8362; 66<span></span>
</td>
<td class="nump">&#8364; 370<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">&#8362; 74<span></span>
</td>
<td class="nump">&#8364; 367<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">&#8362; 73<span></span>
</td>
</tr>
<tr><td colspan="10"></td></tr>
<tr><td colspan="10"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
remainder of the depreciation and the interest is capitalized to fixed assets.</span></td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfAmountsRecognizedInProfitOrLossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfAmountsRecognizedInProfitOrLossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationRightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation of right-of-use assets. [Refer: Depreciation and amortisation expense; Right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 53<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_53_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationRightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseOnLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 53<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_53_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseOnLeaseLiabilities</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>108
<FILENAME>R85.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583019274560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions and Balances with Related Parties (Details)<br> &#8364; in Thousands, &#8362; in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Aug. 12, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Aug. 12, 2021 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Dec. 30, 2008 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>ILS (&#8362;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransactionsandBalanceswithRelatedPartiesDetailsLineItems', window );"><strong>Transactions and Balances with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CompanysShareholders', window );">Company&#8217;s shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 60<span></span>
</td>
<td class="nump">&#8362; 239<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OutstandingCommitmentsMadeByEntityRelatedPartyTransactions', window );">Conversion amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">46,933<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions', window );">Shareholders loans portion</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 23,467<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_KanirAndMeisafMember', window );">Kanir and Meisaf [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransactionsandBalanceswithRelatedPartiesDetailsLineItems', window );"><strong>Transactions and Balances with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ServicesReceivedRelatedPartyTransactions', window );">Aggregate annual management fee</a></td>
<td class="nump">&#8364; 345<span></span>
</td>
<td class="nump">&#8362; 1,386<span></span>
</td>
<td class="nump">$ 400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_KanirAndKeystoneRPHoldingsAndInvestmentsLtdMember', window );">Kanir And Keystone R P Holdings And Investments Ltd Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransactionsandBalanceswithRelatedPartiesDetailsLineItems', window );"><strong>Transactions and Balances with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ServicesReceivedRelatedPartyTransactions', window );">Aggregate annual management fee</a></td>
<td class="nump">&#8364; 449<span></span>
</td>
<td class="nump">1,800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_KanirMember', window );">Kanir [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransactionsandBalanceswithRelatedPartiesDetailsLineItems', window );"><strong>Transactions and Balances with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ServicesReceivedRelatedPartyTransactions', window );">Aggregate annual management fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">660<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_KeystoneMember', window );">Keystone [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransactionsandBalanceswithRelatedPartiesDetailsLineItems', window );"><strong>Transactions and Balances with Related Parties (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ServicesReceivedRelatedPartyTransactions', window );">Aggregate annual management fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 1,140<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CompanysShareholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Company&#8217;s shareholders.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CompanysShareholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_TransactionsandBalanceswithRelatedPartiesDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TransactionsandBalanceswithRelatedPartiesDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OutstandingCommitmentsMadeByEntityRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding commitments made by the entity in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2023-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OutstandingCommitmentsMadeByEntityRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding commitments made on behalf of the entity in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2023-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ServicesReceivedRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of services received in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2023-01-01<br> -Paragraph 21<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_21_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ServicesReceivedRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_KanirAndMeisafMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_KanirAndMeisafMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_KanirAndKeystoneRPHoldingsAndInvestmentsLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_KanirAndKeystoneRPHoldingsAndInvestmentsLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_KanirMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_KanirMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_KeystoneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_KeystoneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583029162864">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions and Balances with Related Parties (Details) - Schedule of Key Management Personnel and Interested Parties - Key management personnel of entity or parent [member]<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransactionsandBalanceswithRelatedPartiesDetailsScheduleofKeyManagementPersonnelandInterestedPartiesLineItems', window );"><strong>Transactions and Balances with Related Parties (Details) - Schedule of Key Management Personnel and Interested Parties [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NumberOfEmployeesForShortEmployeeBenefits', window );">Short-term Benefits, Number of People</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term Benefits, Amount</a></td>
<td class="nump">&#8364; 703<span></span>
</td>
<td class="nump">&#8364; 994<span></span>
</td>
<td class="nump">&#8364; 763<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NumberOfEmployeesForPostEmploymentBenefits', window );">Post-employment Benefits,Number of People</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits', window );">Post-employment Benefits, Amount</a></td>
<td class="nump">&#8364; 66<span></span>
</td>
<td class="nump">&#8364; 72<span></span>
</td>
<td class="nump">&#8364; 61<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NumberOfEmployeesForShareBasedPayments', window );">Share-based payments, Number of People</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment', window );">Share-based payments, Amount</a></td>
<td class="nump">&#8364; 80<span></span>
</td>
<td class="nump">&#8364; 69<span></span>
</td>
<td class="nump">&#8364; 68<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_NumberOfEmployeesForPostEmploymentBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of people for post employment benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_NumberOfEmployeesForPostEmploymentBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_NumberOfEmployeesForShareBasedPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of people for share-based payments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_NumberOfEmployeesForShareBasedPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_NumberOfEmployeesForShortEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of people for short-term employee benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_NumberOfEmployeesForShortEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TransactionsandBalanceswithRelatedPartiesDetailsScheduleofKeyManagementPersonnelandInterestedPartiesLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of post-employment benefits. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of share-based payments. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of short-term employee benefits. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
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<head>
<title></title>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583179863568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions and Balances with Related Parties (Details) - Schedule of Compensation to Directors - Key Management Non Personnel of Entity or Parent [Member]<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfCompensationToDirectorsLineItems', window );"><strong>Schedule of Compensation to Directors [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NumberOfPeopleForCompensationNotEmployed', window );">Total compensation to directors not employed by the Company, Number of people</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total compensation to directors not employed by the Company, Amount</a></td>
<td class="nump">&#8364; 80<span></span>
</td>
<td class="nump">&#8364; 90<span></span>
</td>
<td class="nump">&#8364; 72<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NumberOfEmployeesForShareBasedPayments', window );">Share-based payments, Number of people</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment', window );">Share-based payments, Amount</a></td>
<td class="nump">&#8364; 28<span></span>
</td>
<td class="nump">&#8364; 36<span></span>
</td>
<td class="nump">&#8364; 10<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_NumberOfEmployeesForShareBasedPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of people for share-based payments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_NumberOfEmployeesForShareBasedPayments</td>
</tr>
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<td>ello_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_NumberOfPeopleForCompensationNotEmployed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of people for compensation not employed by the company.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_NumberOfPeopleForCompensationNotEmployed</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<td>xbrli:decimalItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensation</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of share-based payments. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2023-01-01<br> -Paragraph 17<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_17_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_KeyManagementNonPersonnelOfEntityOrParentMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022899120">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Transactions and Balances with Related Parties (Details) - Schedule of Debts and Loans to Related and Interested Parties - Ellomay Luzon Energy [Member] - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransactionsandBalanceswithRelatedPartiesDetailsScheduleofDebtsandLoanstoRelatedandInterestedPartiesLineItems', window );"><strong>Transactions and Balances with Related Parties (Details) - Schedule of Debts and Loans to Related and Interested Parties [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Annual interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">8.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmountsReceivableRelatedPartyTransactions', window );">Debts and loans to related and intrested parites</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">&#8364; 2,665<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestIncomeOnLoansAndReceivables', window );">Interest income recognized in statement of income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 267<span></span>
</td>
<td class="nump">&#8364; 1,398<span></span>
</td>
<td class="nump">&#8364; 821<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See Note 6A regarding the conversion of approximately NIS 46,933 thousand of the shareholders loans (of which the Company&#8217;s portion is approximately NIS 23,467 thousand) to capital notes.</span></td>
</tr></table></td></tr>
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<div style="display: none;">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TransactionsandBalanceswithRelatedPartiesDetailsScheduleofDebtsandLoanstoRelatedandInterestedPartiesLineItems</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts receivable resulting from related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2023-01-01<br> -Paragraph 20<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2023-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmountsReceivableRelatedPartyTransactions</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of interest income on loans and receivables. [Refer: Interest income; Loans and receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expired 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_112_c&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestIncomeOnLoansAndReceivables</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_EllomayLuzonEnergyMember</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583028577168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity (Details)<br> &#8364; / shares in Units, &#8362; / shares in Units, &#8364; in Thousands, &#8362; in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="3"></th>
<th class="th" colspan="1"></th>
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<tr>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>shares</div>
</th>
<th class="th">
<div>Apr. 17, 2024 </div>
<div>&#8362; / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>ILS (&#8362;) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>shares</div>
</th>
<th class="th">
<div>Feb. 23, 2021 </div>
<div>EUR (&#8364;) </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Feb. 23, 2021 </div>
<div>ILS (&#8362;) </div>
<div>&#8362; / shares</div>
</th>
<th class="th">
<div>Oct. 26, 2020 </div>
<div>EUR (&#8364;) </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Oct. 26, 2020 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 26, 2020 </div>
<div>ILS (&#8362;) </div>
<div>&#8362; / shares</div>
</th>
<th class="th">
<div>Mar. 12, 2019 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EquityDetailsLineItems', window );"><strong>Equity (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Aggregate principal amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 353,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 18,400<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Price per share | &#8362; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 40,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Liabilities</a></td>
<td class="nump">&#8364; 493,080<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 487,753<span></span>
</td>
<td class="nump">$ 539,476<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_BoardMemberAndEmployeesMember', window );">Board and Employee [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EquityDetailsLineItems', window );"><strong>Equity (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement', window );">Number of share options exercised to ordinary shares</a></td>
<td class="nump">3,290<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesCDebenturesMember', window );">Series C Debentures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EquityDetailsLineItems', window );"><strong>Equity (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Aggregate principal amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 38,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 154,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Liabilities | &#8364;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesDDebenturesMember', window );">Series D Convertible Debentures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EquityDetailsLineItems', window );"><strong>Equity (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Aggregate principal amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 16,956<span></span>
</td>
<td class="nump">&#8362; 62,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Price per share | &#8362; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ProceedsFromPrivatePlacement', window );">Proceeds from private placement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,890<span></span>
</td>
<td class="nump">&#8362; 7,504<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Liabilities | &#8364;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 82<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare', window );">Conversion price | (per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 41.6<span></span>
</td>
<td class="nump">&#8362; 165<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Ordinarty Shares [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EquityDetailsLineItems', window );"><strong>Equity (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NetOfTreasuryShares', window );">Net of treasury shares (in Shares) | shares</a></td>
<td class="nump">258,046<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">258,046<span></span>
</td>
<td class="nump">258,046<span></span>
</td>
<td class="nump">258,046<span></span>
</td>
<td class="nump">258,046<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement', window );">Number of share options exercised to ordinary shares</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Ordinarty Shares [Member] | Series C Debentures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EquityDetailsLineItems', window );"><strong>Equity (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Price per share | (per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 37.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 150<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ProceedsFromPrivatePlacement', window );">Proceeds from private placement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,224<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 8,891<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Ordinarty Shares [Member] | Series One Options [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_EquityDetailsLineItems', window );"><strong>Equity (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountOfOrdinarySharesRepurchased', window );">Amount of ordinary shares repurchased (in Dollars) | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 385,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AmountOfOrdinarySharesRepurchased">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of ordinary shares repurchased.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AmountOfOrdinarySharesRepurchased</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents amount of debentures convertible into ordinary shares par value per share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DebenturesConvertibleIntoOrdinarySharesParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_EquityDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_EquityDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_NetOfTreasuryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Treasury shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_NetOfTreasuryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ProceedsFromPrivatePlacement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds from private placement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ProceedsFromPrivatePlacement</td>
</tr>
<tr>
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</tr>
<tr>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of share options exercised in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_iv&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal value per share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_79_a_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_BoardMemberAndEmployeesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_BoardMemberAndEmployeesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesCDebenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesCDebenturesMember</td>
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<tr>
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<td></td>
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<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesDDebenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesDDebenturesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ello_SeriesOneOptionssMember</td>
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<td>na</td>
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<td></td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583028638848">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Equity (Details) - Schedule of Composition of Share Capital - shares<br></strong></div></th>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfCompositionOfShareCapitalAbstract', window );"><strong>Schedule of Composition of Share Capital [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfSharesAuthorised', window );">Ordinary shares of NIS 10.00 par value, Authorized</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17,000,000<span></span>
</td>
<td class="nump">17,000,000<span></span>
</td>
<td class="nump">17,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Ordinary shares of NIS 10.00 par value, Issued and Outstanding</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12,852,585<span></span>
</td>
<td class="nump">12,852,585<span></span>
</td>
<td class="nump">12,849,295<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net of 258,046 Ordinary shares held as treasury shares as of December 31, 2023, 2022 and 2021, all of which have been purchased according to share buyback programs that were authorized by the Company&#8217;s Board of Directors.</span></td>
</tr></table></td></tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesAuthorised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of shares authorised.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_79_a_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesAuthorised</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of shares that have been authorised and issued, reduced by treasury shares held. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesOutstanding</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>114
<FILENAME>R91.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583031109632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share-Based Payment (Details)<br></strong></div></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Aug. 31, 2000</div></th>
<th class="th"><div>Dec. 31, 1998</div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>$ / shares</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Share-Based Payment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement', window );">Aggregate amount of ordinary shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,616<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="nump">37,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Options to purchase</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">54,010<span></span>
</td>
<td class="nump">49,394<span></span>
</td>
<td class="nump">48,684<span></span>
</td>
<td class="nump">31,135<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019', window );">Weighted average remaining contractual life</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">8 years 2 months 23 days<span></span>
</td>
<td class="text">8 years 4 months 24 days<span></span>
</td>
<td class="text">9 years 4 months 17 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019', window );">Range of exercise prices (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 26.28<span></span>
</td>
<td class="nump">$ 26.98<span></span>
</td>
<td class="nump">$ 26.16<span></span>
</td>
<td class="nump">$ 12.94<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Share-Based Payment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019', window );">Range of exercise prices (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8.41<span></span>
</td>
<td class="nump">8.41<span></span>
</td>
<td class="nump">8.41<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Share-Based Payment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019', window );">Range of exercise prices (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 34.44<span></span>
</td>
<td class="nump">$ 34.44<span></span>
</td>
<td class="nump">$ 34.44<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=ello_Plan1998Member', window );">Plan 1998 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Share-Based Payment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement', window );">Expires</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement', window );">Aggregate amount of ordinary shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">75,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DateOfExpireOfShareBasedPaymentArrangement', window );">Original expiration</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">December 8, 2008<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement', window );">Current expiration date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">December 8, 2028<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Options to purchase</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,365<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OrdinarySharesAvailableForFutureGrants', window );">Available for future grants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18,051<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=ello_Plan1998Member', window );">Plan 1998 [Member] | Key management personnel of entity or parent [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Share-Based Payment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement', window );">Aggregate amount of ordinary shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,616<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=ello_Plan2000Member', window );">Plan 2000 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Share-Based Payment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement', window );">Expires</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement', window );">Aggregate amount of ordinary shares</a></td>
<td class="nump">200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DateOfExpireOfShareBasedPaymentArrangement', window );">Original expiration</a></td>
<td class="text">August 31, 2028<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Options to purchase</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">34,645<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OrdinarySharesAvailableForFutureGrants', window );">Available for future grants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">547,206<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ShareBasedPaymentAwardOptionsContractualTerm', window );">Options vest</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfExercisePrice', window );">Fair market value</a></td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DateOfExpireOfShareBasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The date on which share-based payment arrangements expired.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DateOfExpireOfShareBasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of the extended term of options granted for a type of share-based payment arrangement that existed at any time during the period. An entity with substantially similar types of share-based payment arrangements may aggregate this information.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_OrdinarySharesAvailableForFutureGrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Ordinary shares available for future grants.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OrdinarySharesAvailableForFutureGrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of exercise price.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ShareBasedPaymentAwardOptionsContractualTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share based payment award options contractual term.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ShareBasedPaymentAwardOptionsContractualTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of the maximum term of options granted for a type of share-based payment arrangement that existed at any time during the period. An entity with substantially similar types of share-based payment arrangements may aggregate this information. [Refer: Share-based payment arrangements [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfOutstandingShareOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of share options outstanding in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vi<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_vi&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfOutstandingShareOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of share options granted in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options outstanding in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vi<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_vi&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=ello_Plan1998Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=ello_Plan1998Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=ello_Plan2000Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=ello_Plan2000Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share-Based Payment (Details) - Schedule of Expenses Recognized in Financial Statements - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfExpensesRecognizedInFinancialStatementsAbstract', window );"><strong>Schedule Of Expenses Recognized In Financial Statements Abstract</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees', window );">Expenses arising from share-based payment transactions</a></td>
<td class="nump">&#8364; 122<span></span>
</td>
<td class="nump">&#8364; 127<span></span>
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<td class="nump">&#8364; 63<span></span>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfExpensesRecognizedInFinancialStatementsAbstract</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense from share-based payment transactions with employees. [Refer: Expense from share-based payment transactions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022931440">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share-Based Payment (Details) - Schedule of Black-Scholes Options Pricing Model - &#8364; / shares<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfBlackScholesOptionsPricingModelLineItems', window );"><strong>Schedule of Black-Scholes Options Pricing Model [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted', window );">Dividend yield</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted', window );">Expected volatility</a></td>
<td class="nump">0.509%<span></span>
</td>
<td class="nump">0.405%<span></span>
</td>
<td class="nump">0.433%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted', window );">Risk-free interest</a></td>
<td class="nump">4.92%<span></span>
</td>
<td class="nump">2.90%<span></span>
</td>
<td class="nump">0.48%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExercisePriceShareOptionsGranted2019', window );">Exercise price (in Euro per share)</a></td>
<td class="nump">&#8364; 16.11<span></span>
</td>
<td class="nump">&#8364; 27.22<span></span>
</td>
<td class="nump">&#8364; 29.27<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfBlackScholesOptionsPricingModelLineItems', window );"><strong>Schedule of Black-Scholes Options Pricing Model [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted', window );">Expected life (in years)</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfBlackScholesOptionsPricingModelLineItems', window );"><strong>Schedule of Black-Scholes Options Pricing Model [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted', window );">Expected life (in years)</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The expected volatility of the share price used to calculate the fair value of the share options granted. Expected volatility is a measure of the amount by which a price is expected to fluctuate during a period. The measure of volatility used in option pricing models is the annualised standard deviation of the continuously compounded rates of return on the share over a period of time.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted</td>
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<tr>
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<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The option life of share options granted.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfOptionLifeShareOptionsGranted</td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The implied yield currently available on zero-coupon government issues of the country in whose currency the exercise price for share options granted is expressed, with a remaining term equal to the expected term of the option being valued (based on the option's remaining contractual life and taking into account the effects of expected early exercise). [Refer: Government [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exercise price of share options granted.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExercisePriceShareOptionsGranted2019</td>
</tr>
<tr>
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<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of an expected dividend used to calculate the fair value of share options granted.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583020034448">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share-Based Payment (Details) - Schedule of Weighted Average Fair Values and Exercise Price - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfWeightedAverageFairValuesAndExercisePriceLineItems', window );"><strong>Schedule of Weighted Average Fair Values and Exercise Price [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019', window );">Weighted average exercise prices</a></td>
<td class="nump">$ 16.11<span></span>
</td>
<td class="nump">$ 27.22<span></span>
</td>
<td class="nump">$ 29.27<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted', window );">Weighted average fair value on grant date</a></td>
<td class="nump">$ 5.11<span></span>
</td>
<td class="nump">$ 7.27<span></span>
</td>
<td class="nump">$ 9.65<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfWeightedAverageFairValuesAndExercisePriceLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfWeightedAverageFairValuesAndExercisePriceLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options granted in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value of share options granted during the period at the measurement date. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>118
<FILENAME>R95.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583019718080">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share-Based Payment (Details) - Schedule of Number and Weighted Average Exercise Prices of Share Options<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>$ / shares</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfNumberAndWeightedAverageExercisePricesOfShareOptionsLineItems', window );"><strong>Schedule of Number and Weighted Average Exercise Prices of Share Options [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Outstanding at beginning of year, Number of options</a></td>
<td class="nump">49,394<span></span>
</td>
<td class="nump">48,684<span></span>
</td>
<td class="nump">31,135<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019', window );">Outstanding at beginning of year, Weighted Average Exercise Price</a></td>
<td class="nump">$ 26.98<span></span>
</td>
<td class="nump">$ 26.16<span></span>
</td>
<td class="nump">$ 12.94<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement', window );">Granted during the year, Number of options</a></td>
<td class="nump">4,616<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="nump">37,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019', window );">Granted during the year, Weighted Average Exercise Price</a></td>
<td class="nump">$ 16.11<span></span>
</td>
<td class="nump">$ 27.22<span></span>
</td>
<td class="nump">$ 29.27<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ExercisedDuringTheYearNumberOfOptions', window );">Exercised during the year, Number of options</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(3,290)<span></span>
</td>
<td class="num">(18,451)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019', window );">Exercised during the year, Weighted Average Exercise Price</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 11.19<span></span>
</td>
<td class="nump">$ 10.06<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement', window );">Expired during the year, Number of options</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(1,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019', window );">Expired during the year, Weighted Average Exercise Price</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 26.63<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Outstanding at end of year, Number of options</a></td>
<td class="nump">54,010<span></span>
</td>
<td class="nump">49,394<span></span>
</td>
<td class="nump">48,684<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019', window );">Outstanding at end of year, Weighted Average Exercise Price</a></td>
<td class="nump">$ 26.28<span></span>
</td>
<td class="nump">$ 26.98<span></span>
</td>
<td class="nump">$ 26.16<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement', window );">Exercisable at end of year, Number of options</a></td>
<td class="nump">38,394<span></span>
</td>
<td class="nump">23,394<span></span>
</td>
<td class="nump">6,749<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019', window );">Exercisable at end of year, Weighted Average Exercise Price</a></td>
<td class="nump">$ 26.63<span></span>
</td>
<td class="nump">$ 25.25<span></span>
</td>
<td class="nump">$ 20.05<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ExercisedDuringTheYearNumberOfOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Exercised during the year, Number of options.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ExercisedDuringTheYearNumberOfOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfNumberAndWeightedAverageExercisePricesOfShareOptionsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfNumberAndWeightedAverageExercisePricesOfShareOptionsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfOutstandingShareOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of share options outstanding in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vi<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_vi&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfOutstandingShareOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of share options exercisable in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_vii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of share options expired in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_v&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement</td>
</tr>
<tr>
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<tr>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of share options granted in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options exercisable in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_vii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options exercised in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_iv&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options expired in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_v&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsExpiredInSharebasedPaymentArrangement2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options granted in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options outstanding in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vi<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45_b_vi&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td>dtr-types:perShareItemType</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022928608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Details of the Statements of Profit or Loss and Other Comprehensive Income (Loss) (Details) - Schedule of Revenues - Discontinued operations [member] - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><sup>[1]</sup></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DetailsoftheStatementsofProfitorLossandOtherComprehensiveIncomeLossDetailsScheduleofRevenuesLineItems', window );"><strong>Details of the Statements of Profit or Loss and Other Comprehensive Income (Loss) (Details) - Schedule of Revenues [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfElectricity', window );">Revenues from the sale of solar electricity</a></td>
<td class="nump">&#8364; 31,813<span></span>
</td>
<td colspan="2" class="nump">&#8364; 39,601<span></span>
</td>
<td class="nump">&#8364; 32,019<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfOilAndGasProducts', window );">Revenues from the sale of gas and power produced by anaerobic digestion plants</a></td>
<td class="nump">17,021<span></span>
</td>
<td colspan="2" class="nump">12,640<span></span>
</td>
<td class="nump">12,686<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TotalRevenues', window );">Total revenues</a></td>
<td class="nump">&#8364; 48,834<span></span>
</td>
<td colspan="2" class="nump">&#8364; 52,241<span></span>
</td>
<td class="nump">&#8364; 44,705<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></td>
</tr></table></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DetailsoftheStatementsofProfitorLossandOtherComprehensiveIncomeLossDetailsScheduleofRevenuesLineItems</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total Revenues.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TotalRevenues</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromSaleOfElectricity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the sale of electricity. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromSaleOfElectricity</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromSaleOfOilAndGasProducts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the sale of oil and gas products. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromSaleOfOilAndGasProducts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DiscontinuedOperationsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583020348048">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Details of the Statements of Profit or Loss and Other Comprehensive Income (Loss) (Details) - Schedule of Operating Costs, Depreciation and Amortization - Operating Costs, Depreciation and Amortization [Member] - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><sup>[1]</sup></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DetailsoftheStatementsofProfitorLossandOtherComprehensiveIncomeLossDetailsScheduleofOperatingCostsDepreciationandAmortizationLineItems', window );"><strong>Details of the Statements of Profit or Loss and Other Comprehensive Income (Loss) (Details) - Schedule of Operating Costs, Depreciation and Amortization [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation from fixed assets</a></td>
<td class="nump">&#8364; 15,405<span></span>
</td>
<td colspan="2" class="nump">&#8364; 14,954<span></span>
</td>
<td class="nump">&#8364; 13,977<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation from right-of-use assets</a></td>
<td class="nump">607<span></span>
</td>
<td colspan="2" class="nump">626<span></span>
</td>
<td class="nump">664<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfessionalFeesExpense', window );">Professional services</a></td>
<td class="nump">2,549<span></span>
</td>
<td colspan="2" class="nump">2,232<span></span>
</td>
<td class="nump">1,465<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MiscellaneousOtherOperatingExpense', window );">Operating and maintenance services</a></td>
<td class="nump">16,276<span></span>
</td>
<td colspan="2" class="nump">13,827<span></span>
</td>
<td class="nump">11,193<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_SystemOperatorCharges', window );">System operator charges</a></td>
<td class="nump">2,385<span></span>
</td>
<td colspan="2" class="nump">6,882<span></span>
</td>
<td class="nump">3,046<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InsuranceExpense', window );">Insurance</a></td>
<td class="nump">842<span></span>
</td>
<td colspan="2" class="nump">649<span></span>
</td>
<td class="nump">506<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherExpenseByNature', window );">Other</a></td>
<td class="nump">809<span></span>
</td>
<td colspan="2" class="nump">81<span></span>
</td>
<td class="nump">1,013<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TotalOperatingCosts', window );">Total operating costs</a></td>
<td class="nump">&#8364; 38,873<span></span>
</td>
<td colspan="2" class="nump">&#8364; 39,251<span></span>
</td>
<td class="nump">&#8364; 31,864<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DetailsoftheStatementsofProfitorLossandOtherComprehensiveIncomeLossDetailsScheduleofOperatingCostsDepreciationandAmortizationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DetailsoftheStatementsofProfitorLossandOtherComprehensiveIncomeLossDetailsScheduleofOperatingCostsDepreciationandAmortizationLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>It represents system operator charges.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_SystemOperatorCharges</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_TotalOperatingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total operating costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TotalOperatingCosts</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation expense. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationRightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation of right-of-use assets. [Refer: Depreciation and amortisation expense; Right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 53<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_53_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationRightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InsuranceExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from purchased insurance.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InsuranceExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MiscellaneousOtherOperatingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of miscellaneous other operating expenses. [Refer: Other operating income (expense)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MiscellaneousOtherOperatingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherExpenseByNature">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity does not separately disclose in the same statement or note when the entity uses the 'nature of expense' form for its analysis of expenses. [Refer: Expenses, by nature]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherExpenseByNature</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfessionalFeesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of fees paid or payable for professional services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfessionalFeesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ProfitOrLossAndOtherComprehensiveIncomeLossLocationAxis=ello_OperatingCostsDepreciationAndAmortizationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ProfitOrLossAndOtherComprehensiveIncomeLossLocationAxis=ello_OperatingCostsDepreciationAndAmortizationMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>121
<FILENAME>R98.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583179881744">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Details of the Statements of Profit or Loss and Other Comprehensive Income (Loss) (Details) - Schedule of General and Administrative Expenses - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="5">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><sup>[1]</sup></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><sup>[1]</sup></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfGeneralAndAdministrativeExpensesAbstract', window );"><strong>Schedule of General and Administrative Expenses [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WagesAndSalaries', window );">Salaries and related compensation</a></td>
<td class="nump">&#8364; 1,797<span></span>
</td>
<td colspan="2" class="nump">&#8364; 2,151<span></span>
</td>
<td colspan="2" class="nump">&#8364; 1,505<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ProfessionalServicesGeneralAndAdministrativeExpenses', window );">Professional services</a></td>
<td class="nump">2,306<span></span>
</td>
<td colspan="2" class="nump">2,367<span></span>
</td>
<td colspan="2" class="nump">2,785<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OtherGeneralAndAdministrativeExpenses', window );">Other</a></td>
<td class="nump">1,180<span></span>
</td>
<td colspan="2" class="nump">1,337<span></span>
</td>
<td colspan="2" class="nump">1,334<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">Total general and administrative expenses</a></td>
<td class="nump">&#8364; 5,283<span></span>
</td>
<td colspan="2" class="nump">&#8364; 5,855<span></span>
</td>
<td colspan="2" class="nump">&#8364; 5,624<span></span>
</td>
</tr>
<tr><td colspan="6"></td></tr>
<tr><td colspan="6"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_OtherGeneralAndAdministrativeExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OtherGeneralAndAdministrativeExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ProfessionalServicesGeneralAndAdministrativeExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Professional services in respect of general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ProfessionalServicesGeneralAndAdministrativeExpenses</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfGeneralAndAdministrativeExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfGeneralAndAdministrativeExpensesAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WagesAndSalaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A class of employee benefits expense that represents wages and salaries. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2023-01-01<br> -Paragraph 9<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_9&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WagesAndSalaries</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583019288000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Details of the Statements of Profit or Loss and Other Comprehensive Income (Loss) (Details) - Schedule of Financing Income - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><sup>[1]</sup></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfFinancingIncomeAbstract', window );"><strong>Schedule of Financing Income [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromInterest', window );">Interest income</a></td>
<td class="nump">&#8364; 2,015<span></span>
</td>
<td colspan="2" class="nump">&#8364; 402<span></span>
</td>
<td class="nump">&#8364; 266<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Change in fair value of derivatives, net</a></td>
<td class="nump">251<span></span>
</td>
<td colspan="2" class="nump">605<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GainFromDerivativeContracts', window );">Profit from settlement of derivatives contract</a></td>
<td class="text"> <span></span>
</td>
<td colspan="2" class="text"> <span></span>
</td>
<td class="nump">407<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetForeignExchangeGain', window );">Gain from exchange rate differences, net</a></td>
<td class="nump">6,732<span></span>
</td>
<td colspan="2" class="nump">6,041<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TotalFinancingIncome', window );">Total financing income</a></td>
<td class="nump">&#8364; 8,998<span></span>
</td>
<td colspan="2" class="nump">&#8364; 7,048<span></span>
</td>
<td class="nump">&#8364; 673<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_GainFromDerivativeContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of gain from derivative contracts.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_GainFromDerivativeContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfFinancingIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfFinancingIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_TotalFinancingIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total financing income.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TotalFinancingIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) resulting from change in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetForeignExchangeGain">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The net gain arising from exchange differences recognised in profit or loss, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: Foreign exchange gain (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2023-01-01<br> -Paragraph 52<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=21&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetForeignExchangeGain</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income arising from interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B13<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B13_e&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromInterest</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td>credit</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022900464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Details of the Statements of Profit or Loss and Other Comprehensive Income (Loss) (Details) - Schedule of Financing Expenses - Financing Expenses [Member] - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="5">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><sup>[1]</sup></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><sup>[1]</sup></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DetailsoftheStatementsofProfitorLossandOtherComprehensiveIncomeLossDetailsScheduleofFinancingExpensesLineItems', window );"><strong>Details of the Statements of Profit or Loss and Other Comprehensive Income (Loss) (Details) - Schedule of Financing Expenses [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancingExpensesInConnectionWithDerivativesNet', window );">Change in fair value of derivatives, net</a></td>
<td class="text"> <span></span>
</td>
<td colspan="2" class="text"> <span></span>
</td>
<td colspan="2" class="nump">&#8364; 841<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseOnDebtInstrumentsIssued', window );">Debentures interest and related expenses</a></td>
<td class="nump">3,876<span></span>
</td>
<td colspan="2" class="nump">2,130<span></span>
</td>
<td colspan="2" class="nump">3,220<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestAndCommissionsRelatedToProjectsFinance', window );">Interest and commissions related to projects finance</a></td>
<td class="nump">5,825<span></span>
</td>
<td colspan="2" class="nump">5,852<span></span>
</td>
<td colspan="2" class="nump">4,313<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmortizationOfCapitalizedExpensesRelatedToProjectsFinance', window );">Amortization of capitalized expenses related to projects finance</a></td>
<td class="nump">252<span></span>
</td>
<td colspan="2" class="nump">246<span></span>
</td>
<td colspan="2" class="nump">12,180<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseOnBorrowings', window );">Interest on minority shareholder loan</a></td>
<td class="nump">2,014<span></span>
</td>
<td colspan="2" class="nump">1,529<span></span>
</td>
<td colspan="2" class="nump">2,055<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankAndSimilarCharges', window );">Bank charges and other commissions</a></td>
<td class="nump">247<span></span>
</td>
<td colspan="2" class="nump">471<span></span>
</td>
<td colspan="2" class="nump">137<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseOnLeaseLiabilities', window );">Interest on lease liability</a></td>
<td class="nump">341<span></span>
</td>
<td colspan="2" class="nump">296<span></span>
</td>
<td colspan="2" class="nump">294<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetForeignExchangeLoss', window );">Loss from exchange rate differences, net</a></td>
<td class="text"> <span></span>
</td>
<td colspan="2" class="text"> <span></span>
</td>
<td colspan="2" class="nump">5,394<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinanceExpenses', window );">Total financing expenses</a></td>
<td class="nump">&#8364; 12,555<span></span>
</td>
<td colspan="2" class="nump">&#8364; 10,524<span></span>
</td>
<td colspan="2" class="nump">&#8364; 28,434<span></span>
</td>
</tr>
<tr><td colspan="6"></td></tr>
<tr><td colspan="6"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AmortizationOfCapitalizedExpensesRelatedToProjectsFinance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents amount of amortization of capitalized expenses related to projects finance.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AmortizationOfCapitalizedExpensesRelatedToProjectsFinance</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DetailsoftheStatementsofProfitorLossandOtherComprehensiveIncomeLossDetailsScheduleofFinancingExpensesLineItems</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total finance expenses for the period, including finance expense from derivative instruments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FinanceExpenses</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Change in fair value of derivatives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FinancingExpensesInConnectionWithDerivativesNet</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents amount of interest and commissions related to projects finance.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>duration</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of bank and similar charges recognised by the entity as an expense.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BankAndSimilarCharges</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on borrowings. [Refer: Interest expense; Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseOnBorrowings</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on debt instruments issued. [Refer: Interest expense; Debt instruments issued]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseOnDebtInstrumentsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseOnLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 53<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_53_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseOnLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetForeignExchangeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The net loss arising from exchange differences recognised in profit or loss, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: Foreign exchange gain (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2023-01-01<br> -Paragraph 52<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=21&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetForeignExchangeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_IncomeStatementsLocationAxis=ello_FinancingExpensesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_IncomeStatementsLocationAxis=ello_FinancingExpensesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>124
<FILENAME>R101.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583029897088">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Taxes on Income (Details) - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TaxesonIncomeDetailsLineItems', window );"><strong>Taxes on Income (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RelevantTaxRate', window );">Tax rates</a></td>
<td class="nump">23.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountOfMinimumNetWealthTax', window );">Amount of net wealth tax (in Euro)</a></td>
<td class="nump">&#8364; 500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaximumPercentageOfDeductionInFinancingExpensesOfEbitda', window );">Percentage of financing expenses</a></td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss', window );">Financial expenses (in Euro)</a></td>
<td class="nump">&#8364; 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TaxLossCarryforwards', window );">Tax loss carryforwards (in Euro)</a></td>
<td class="nump">1,592<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TaxesonIncomeDetailsLineItems', window );"><strong>Taxes on Income (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountOfMinimumNetWealthTax', window );">Amount of net wealth tax (in Euro)</a></td>
<td class="nump">535<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TaxesonIncomeDetailsLineItems', window );"><strong>Taxes on Income (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountOfMaximumNetWealthTax', window );">Amount of maximum net wealth tax (in Euro)</a></td>
<td class="nump">&#8364; 32,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_CorporateIncomeTaxMember', window );">Corporate Income Tax [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TaxesonIncomeDetailsLineItems', window );"><strong>Taxes on Income (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfNetWealthTaxRate', window );">Percentage of net wealth tax rate</a></td>
<td class="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_ItalianTaxationMember', window );">Italian taxation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TaxesonIncomeDetailsLineItems', window );"><strong>Taxes on Income (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RelevantTaxRate', window );">Tax rates</a></td>
<td class="nump">24.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_ItalianTaxationMember', window );">Italian taxation [Member] | Resident and Non-Resident [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TaxesonIncomeDetailsLineItems', window );"><strong>Taxes on Income (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod', window );">Tax rate reduced</a></td>
<td class="text">only on income arising in Italy at the rate from 3.29%
(in 2024 the minimum rate will increase to 3.9%) to 4.82%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_SpainshTaxationMember', window );">Spainsh Taxation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TaxesonIncomeDetailsLineItems', window );"><strong>Taxes on Income (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RelevantTaxRate', window );">Tax rates</a></td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_MaximumPercentageOfDeductionInFinancingExpensesOfEbitda', window );">Percentage of financing expenses</a></td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss', window );">Financial expenses (in Euro)</a></td>
<td class="nump">&#8364; 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_DutchSubsidiariesMember', window );">Dutch Subsidiaries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TaxesonIncomeDetailsLineItems', window );"><strong>Taxes on Income (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TaxLossCarryforwards', window );">Tax loss carryforwards (in Euro)</a></td>
<td class="nump">&#8364; 18,906<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_TheNetherlandsTaxationMember', window );">The Netherlands Taxation Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TaxesonIncomeDetailsLineItems', window );"><strong>Taxes on Income (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RelevantTaxRate', window );">Tax rates</a></td>
<td class="nump">19.00%<span></span>
</td>
<td class="nump">15.00%<span></span>
</td>
<td class="nump">15.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense', window );">Unrecognized tax benefits (in Euro)</a></td>
<td class="nump">&#8364; 200<span></span>
</td>
<td class="nump">&#8364; 395<span></span>
</td>
<td class="nump">&#8364; 245<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercetageOfTaxableProfitsExceeding', window );">Percetage of taxable profits exceeding</a></td>
<td class="nump">25.80%<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AmountOfMaximumNetWealthTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of maximum net wealth tax.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AmountOfMaximumNetWealthTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AmountOfMinimumNetWealthTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of minimum net wealth tax.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AmountOfMinimumNetWealthTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_MaximumPercentageOfDeductionInFinancingExpensesOfEbitda">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_MaximumPercentageOfDeductionInFinancingExpensesOfEbitda</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfNetWealthTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of net wealth tax rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfNetWealthTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercetageOfTaxableProfitsExceeding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percetage of taxable profits exceeding.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercetageOfTaxableProfitsExceeding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RelevantTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RelevantTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_TaxLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tax loss carryforwards.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TaxLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_TaxesonIncomeDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TaxesonIncomeDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses recognised in profit or loss on financial assets reclassified out of the fair value through profit or loss category. [Refer: Financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expired 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 12A<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_12A_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The explanation of the changes in the entity's applicable income tax rate(s) compared to the previous accounting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of benefit arising from a previously unrecognised tax loss, tax credit or temporary difference of a prior period that is used to reduce current tax expense. [Refer: Temporary differences [member]; Unused tax losses [member]; Unused tax credits [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 80<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_80_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_CorporateIncomeTaxMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_CorporateIncomeTaxMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_ItalianTaxationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_ItalianTaxationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ello_ResidentAndNonResidentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ello_ResidentAndNonResidentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_SpainshTaxationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_SpainshTaxationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_DutchSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ello_DutchSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_TheNetherlandsTaxationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_TheNetherlandsTaxationMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>125
<FILENAME>R102.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583028847856">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Taxes on Income (Details) - Schedule of Composition of Income Tax Benefit (Taxes on Income) - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="5">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><sup>[1]</sup></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><sup>[1]</sup></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentTaxExpenseAbstract', window );"><strong>Current tax expense</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTaxExpenseIncome', window );">Current year</a></td>
<td class="num">&#8364; (932)<span></span>
</td>
<td colspan="2" class="num">&#8364; (1,826)<span></span>
</td>
<td colspan="2" class="num">&#8364; (977)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods', window );">Current tax expense, net</a></td>
<td class="num">(932)<span></span>
</td>
<td colspan="2" class="num">(1,826)<span></span>
</td>
<td colspan="2" class="num">(977)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DeferredTaxIncomeAbstract', window );"><strong>Deferred tax income</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences', window );">Creation and reversal of temporary differences</a></td>
<td class="nump">1,655<span></span>
</td>
<td colspan="2" class="nump">174<span></span>
</td>
<td colspan="2" class="nump">3,513<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDeferredTaxOfPriorPeriods', window );">Adjustments for prior years, net</a></td>
<td class="nump">713<span></span>
</td>
<td colspan="2" class="text"> <span></span>
</td>
<td colspan="2" class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDeferredTaxExpense', window );">Deferred tax income</a></td>
<td class="nump">2,368<span></span>
</td>
<td colspan="2" class="nump">174<span></span>
</td>
<td colspan="2" class="nump">3,513<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TaxBenefittaxesOnIncome', window );">Tax benefit (taxes on income)</a></td>
<td class="nump">&#8364; 1,436<span></span>
</td>
<td colspan="2" class="num">&#8364; (1,652)<span></span>
</td>
<td colspan="2" class="nump">&#8364; 2,536<span></span>
</td>
</tr>
<tr><td colspan="6"></td></tr>
<tr><td colspan="6"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</span></td>
</tr></table></td></tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CurrentTaxExpenseAbstract</td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DeferredTaxIncomeAbstract</td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represent the amount of tax benefit taxes on income.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TaxBenefittaxesOnIncome</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDeferredTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments for deferred tax expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Deferred tax expense (income); Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 20<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDeferredTaxExpense</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDeferredTaxOfPriorPeriods">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments of tax expense (income) recognised in the period for the deferred tax of prior periods.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 80<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_80&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDeferredTaxOfPriorPeriods</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income taxes payable (recoverable) in respect of the taxable profit (tax loss) for a period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 80<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_80_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxExpenseIncome</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current tax expense (income) and adjustments for the current tax of prior periods. [Refer: Current tax expense (income); Adjustments for current tax of prior periods]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 80<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_80&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax expense or income relating to the creation or reversal of temporary differences. [Refer: Temporary differences [member]; Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 80<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_80_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</body>
</html>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>126
<FILENAME>R103.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583030451248">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Taxes on Income (Details) - Schedule of Theoretical Tax on the Pre-Tax Profit and the Tax Expense - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="5">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><sup>[1]</sup></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><sup>[1]</sup></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfTheoreticalTaxOnThePreTaxProfitAndTheTaxExpenseAbstract', window );"><strong>Schedule of Theoretical Tax [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ProfitlossBeforeTaxesOnIncome', window );">Profit (loss) before taxes on income</a></td>
<td class="nump">&#8364; 976<span></span>
</td>
<td colspan="2" class="nump">&#8364; 1,081<span></span>
</td>
<td colspan="2" class="num">&#8364; (22,935)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Primary tax rate of the Company</a></td>
<td class="nump">23.00%<span></span>
</td>
<td colspan="2" class="nump">23.00%<span></span>
</td>
<td colspan="2" class="nump">23.00%<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TaxEffectOfForeignTaxRates', window );">Tax benefit (tax expenses) calculated according to the Company&#8217;s primary tax rate</a></td>
<td class="num">&#8364; (224)<span></span>
</td>
<td colspan="2" class="num">&#8364; (249)<span></span>
</td>
<td colspan="2" class="nump">&#8364; 5,275<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AdditionalTaxSavingInRespectOfAbstract', window );"><strong>Additional tax saving in respect of:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AccountingProfit', window );">Different tax rate of foreign subsidiaries</a></td>
<td class="num">(72)<span></span>
</td>
<td colspan="2" class="num">(488)<span></span>
</td>
<td colspan="2" class="num">(40)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees', window );">Neutralization of tax calculated in respect of the Company&#8217;s share in profits of equity accounted investees</a></td>
<td class="nump">994<span></span>
</td>
<td colspan="2" class="nump">277<span></span>
</td>
<td colspan="2" class="nump">27<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes', window );">Difference between measurement basis of income (expenses) for tax purposes and measurement basis of income (expenses) for financial reporting purposes</a></td>
<td class="num">(47)<span></span>
</td>
<td colspan="2" class="num">(706)<span></span>
</td>
<td colspan="2" class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast', window );">Changes in deferred taxes for tax losses and benefits from previous years for which deferred taxes were not created in the past</a></td>
<td class="nump">713<span></span>
</td>
<td colspan="2" class="nump">282<span></span>
</td>
<td colspan="2" class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes', window );">Utilization of tax losses and benefits from prior years for which deferred taxes were not created</a></td>
<td class="nump">1,363<span></span>
</td>
<td colspan="2" class="nump">566<span></span>
</td>
<td colspan="2" class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ChangeInTemporaryTaxDifferences', window );">Change in temporary differences for which deferred tax were not recognized</a></td>
<td class="nump">106<span></span>
</td>
<td colspan="2" class="text"> <span></span>
</td>
<td colspan="2" class="nump">51<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers', window );">Current year tax losses and benefits for which deferred taxes were not created</a></td>
<td class="num">(1,275)<span></span>
</td>
<td colspan="2" class="num">(1,199)<span></span>
</td>
<td colspan="2" class="num">(2,770)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TaxesInRespectToPreviousYearsAndOthers', window );">Permanent differences</a></td>
<td class="num">(122)<span></span>
</td>
<td colspan="2" class="num">(135)<span></span>
</td>
<td colspan="2" class="num">(7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ActualTaxBenefittaxesOnIncome', window );">Actual tax benefit (taxes on income)</a></td>
<td class="nump">&#8364; 1,436<span></span>
</td>
<td colspan="2" class="num">&#8364; (1,652)<span></span>
</td>
<td colspan="2" class="nump">&#8364; 2,536<span></span>
</td>
</tr>
<tr><td colspan="6"></td></tr>
<tr><td colspan="6"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified
due to discontinued operation - see Note 23.</span></td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ActualTaxBenefittaxesOnIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Actual tax benefit (taxes on income).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ActualTaxBenefittaxesOnIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AdditionalTaxSavingInRespectOfAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AdditionalTaxSavingInRespectOfAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ChangeInTemporaryTaxDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Change in temporary tax differences.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ChangeInTemporaryTaxDifferences</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Creation of deferred taxes for tax losses and benefits from previous years for which deferred taxes were not created in the past.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current year tax losses and benefits for which deferred taxes were not created, reserve of uncertain tax position and others.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of difference between measurement basis of income (expenses) for tax purposes and measurement basis of income (expenses) for financial reporting purposes.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Neutralization of tax calculated in respect of the Company's share in profits of equity accounted investees.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ProfitlossBeforeTaxesOnIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represent the amount of profit loss before taxes on income.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ProfitlossBeforeTaxesOnIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfTheoreticalTaxOnThePreTaxProfitAndTheTaxExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfTheoreticalTaxOnThePreTaxProfitAndTheTaxExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_TaxesInRespectToPreviousYearsAndOthers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Taxes in respect to previous years and others.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TaxesInRespectToPreviousYearsAndOthers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AccountingProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) for a period before deducting tax expense. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AccountingProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ApplicableTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The applicable income tax rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ApplicableTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax expense or income relating to tax rate changes or the imposition of new taxes. [Refer: Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 80<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_80_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectOfForeignTaxRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to foreign tax rates. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectOfForeignTaxRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583031260640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Taxes on Income (Details) - Schedule of Deferred Taxes - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfDeferredTaxesLineItems', window );"><strong>Schedule of Deferred Taxes [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Balance of deferred tax asset (liability) as at January 1</a></td>
<td class="nump">&#8364; 16,740<span></span>
</td>
<td class="nump">&#8364; 3,908<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Changes recognized in profit or loss</a></td>
<td class="nump">3,058<span></span>
</td>
<td class="nump">3,034<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Changes recognized in other comprehensive income</a></td>
<td class="num">(16,354)<span></span>
</td>
<td class="nump">9,798<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransferToDisposalGroupsHeldForSaleseeNote23', window );">Transfer to disposal groups held for sale (see Note 23)</a></td>
<td class="nump">2,717<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Balance of deferred tax asset (liability) as at December 31</a></td>
<td class="nump">6,161<span></span>
</td>
<td class="nump">16,740<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_FinancialAssetMember', window );">Financial Assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfDeferredTaxesLineItems', window );"><strong>Schedule of Deferred Taxes [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Balance of deferred tax asset (liability) as at January 1</a></td>
<td class="num">(3,642)<span></span>
</td>
<td class="num">(6,964)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Changes recognized in profit or loss</a></td>
<td class="nump">690<span></span>
</td>
<td class="nump">3,065<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Changes recognized in other comprehensive income</a></td>
<td class="nump">235<span></span>
</td>
<td class="nump">257<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransferToDisposalGroupsHeldForSaleseeNote23', window );">Transfer to disposal groups held for sale (see Note 23)</a></td>
<td class="nump">2,717<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Balance of deferred tax asset (liability) as at December 31</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(3,642)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_FixedAssetsAndLeaseMember', window );">Fixed Assets and Lease [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfDeferredTaxesLineItems', window );"><strong>Schedule of Deferred Taxes [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Balance of deferred tax asset (liability) as at January 1</a></td>
<td class="num">(2,124)<span></span>
</td>
<td class="num">(1,555)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Changes recognized in profit or loss</a></td>
<td class="nump">774<span></span>
</td>
<td class="num">(569)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Changes recognized in other comprehensive income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransferToDisposalGroupsHeldForSaleseeNote23', window );">Transfer to disposal groups held for sale (see Note 23)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Balance of deferred tax asset (liability) as at December 31</a></td>
<td class="num">(1,350)<span></span>
</td>
<td class="num">(2,124)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_SwapContractsMember', window );">Swap Contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfDeferredTaxesLineItems', window );"><strong>Schedule of Deferred Taxes [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Balance of deferred tax asset (liability) as at January 1</a></td>
<td class="nump">14,944<span></span>
</td>
<td class="nump">5,400<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Changes recognized in profit or loss</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Changes recognized in other comprehensive income</a></td>
<td class="num">(16,589)<span></span>
</td>
<td class="nump">9,544<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransferToDisposalGroupsHeldForSaleseeNote23', window );">Transfer to disposal groups held for sale (see Note 23)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Balance of deferred tax asset (liability) as at December 31</a></td>
<td class="num">(1,645)<span></span>
</td>
<td class="nump">14,944<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_CarryForwardTaxLossesMember', window );">Carry- forward Tax Losses [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfDeferredTaxesLineItems', window );"><strong>Schedule of Deferred Taxes [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Balance of deferred tax asset (liability) as at January 1</a></td>
<td class="nump">7,562<span></span>
</td>
<td class="nump">7,027<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Changes recognized in profit or loss</a></td>
<td class="nump">1,594<span></span>
</td>
<td class="nump">538<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Changes recognized in other comprehensive income</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_TransferToDisposalGroupsHeldForSaleseeNote23', window );">Transfer to disposal groups held for sale (see Note 23)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Balance of deferred tax asset (liability) as at December 31</a></td>
<td class="nump">&#8364; 9,156<span></span>
</td>
<td class="nump">&#8364; 7,562<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfDeferredTaxesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfDeferredTaxesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_TransferToDisposalGroupsHeldForSaleseeNote23">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Transfer to disposal groups held for sale.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_TransferToDisposalGroupsHeldForSaleseeNote23</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense or income relating to changes in deferred tax liabilities and deferred tax assets, recognised in profit or loss. [Refer: Deferred tax assets; Deferred tax expense (income); Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_g_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities or assets. [Refer: Deferred tax liabilities; Deferred tax assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 90<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_FinancialAssetMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_FinancialAssetMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_FixedAssetsAndLeaseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_FixedAssetsAndLeaseMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_SwapContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_SwapContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_CarryForwardTaxLossesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ello_CarryForwardTaxLossesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R105.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583019316128">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings Per Share (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EarningsPerShareAbstract', window );"><strong>Earnings Per Share [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_weightedAverageNumberOfOrdinarySharesOptions', window );">Weighted average number of ordinary shares options and warrants</a></td>
<td class="nump">$ 794<span></span>
</td>
<td class="nump">$ 779<span></span>
</td>
<td class="nump">$ 762<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_weightedAverageNumberOfOrdinarySharesOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted average number of ordinary shares options.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_weightedAverageNumberOfOrdinarySharesOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>129
<FILENAME>R106.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583018823488">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Earnings Per Share (Details) - Schedule of Computation of Basic and Diluted Earnings Per Share<br> &#8364; / shares in Units, &#8364; in Thousands</strong></div></th>
<th class="th" colspan="6">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;) </div>
<div>&#8364; / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>$ / shares</div>
</th>
<th class="th" colspan="2">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>&#8364; / shares </div>
<div>shares</div>
</th>
<th class="th" colspan="2">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;) </div>
<div>&#8364; / shares </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfComputationOfBasicAndDilutedEarningsPerShareAbstract', window );"><strong>Schedule Of Computation Of Basic And Diluted Earnings Per Share Abstract</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Net profit (loss) attributed to owners of the Company (in Euro)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 2,219<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (357)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">&#8364; (15,090)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity', window );">Net profit (loss) attributed to owners of the Company from continuing operations (in Euro)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,068)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(15,849)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent', window );">Net profit (loss) attributed to owners of the Company from discontinued operation (in Euro)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">&#8364; (1,787)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 711<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">&#8364; 759<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageShares', window );">Weighted average ordinary shares outstanding (in Shares) | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12,852,585<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,850,118<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">12,824,088<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AmountOfDilutiveStockOptionsAndWarrants', window );">Stock options and warrants (in Euro)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 3,462<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 7,796<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">&#8364; 8,637<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustedWeightedAverageShares', window );">Diluted weighted average ordinary shares outstanding (in Shares) | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">12,856,047<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,857,914<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">12,832,725<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShare', window );">Basic net earning (loss) per share | (per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 0.17<span></span>
</td>
<td class="nump">$ 0.19<span></span>
</td>
<td class="num">&#8364; (0.03)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">&#8364; (1.18)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShare', window );">Diluted net earning (loss) per share | (per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.17<span></span>
</td>
<td class="nump">0.19<span></span>
</td>
<td class="num">(0.03)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(1.18)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShareFromContinuingOperations', window );">Basic profit (loss) per share from continuing operations | (per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.31<span></span>
</td>
<td class="nump">0.34<span></span>
</td>
<td class="num">(0.08)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(1.24)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations', window );">Diluted profit (loss) per share from continuing operations | (per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.31<span></span>
</td>
<td class="nump">0.34<span></span>
</td>
<td class="num">(0.08)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(1.24)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations', window );">Basic profit (loss) per share from discontinued operation | (per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(0.14)<span></span>
</td>
<td class="num">(0.15)<span></span>
</td>
<td class="nump">0.05<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">0.06<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations', window );">Diluted profit (loss) per share from discontinued operation | (per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">&#8364; (0.14)<span></span>
</td>
<td class="num">$ (0.15)<span></span>
</td>
<td class="nump">&#8364; 0.05<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">&#8364; 0.06<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
</tr>
<tr><td colspan="7"></td></tr>
<tr><td colspan="7"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Net of treasury shares.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">In 2023, 2022 and 2021 share options and warrants did not have a dilutive effect.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Reclassified due to discontinued operation - see Note 23.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AmountOfDilutiveStockOptionsAndWarrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of dilutive stock options and warrants.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfComputationOfBasicAndDilutedEarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfComputationOfBasicAndDilutedEarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustedWeightedAverageShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average number of ordinary shares outstanding plus the weighted average number of ordinary shares that would be issued on the conversion of all the dilutive potential ordinary shares into ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 70<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustedWeightedAverageShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShareFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Basic earnings (loss) per share from continuing operations. [Refer: Basic earnings (loss) per share; Continuing operations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShareFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Basic earnings (loss) per share from discontinued operations. [Refer: Basic earnings (loss) per share; Discontinued operations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 68<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutedEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator), divided by the weighted average number of ordinary shares outstanding during the period (the denominator), both adjusted for the effects of all dilutive potential ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Diluted earnings (loss) per share from continuing operations. [Refer: Continuing operations [member]; Diluted earnings (loss) per share]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Diluted earnings (loss) per share from discontinued operations. [Refer: Diluted earnings (loss) per share; Discontinued operations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 68<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShareFromDiscontinuedOperations</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income from discontinued operations attributable to owners of the parent. [Refer: Discontinued operations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to owners of the parent. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81B_a_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing operations attributable to ordinary equity holders of the parent entity. [Refer: Continuing operations [member]; Profit (loss) from continuing operations]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 70<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_70_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued during the period multiplied by a time-weighting factor.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 70<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583018817648">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Instruments (Details)<br> &#8364; in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsAbstract', window );"><strong>Financial Instruments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">&#8364; 46,458<span></span>
</td>
<td class="nump">&#8364; 41,229<span></span>
</td>
<td class="nump">&#8364; 51,127<span></span>
</td>
<td class="nump">$ 56,548<span></span>
</td>
<td class="nump">$ 51,384<span></span>
</td>
<td class="nump">&#8364; 66,845<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentRestrictedCashAndCashEquivalents', window );">Derivative financial assets</a></td>
<td class="nump">900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">810<span></span>
</td>
<td class="nump">896<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents', window );">Non-current restricted cash</a></td>
<td class="nump">20,192<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,386<span></span>
</td>
<td class="nump">$ 19,230<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Trade receivables</a></td>
<td class="nump">420<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">205<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentIncomeReceivable', window );">Revenue receivables</a></td>
<td class="nump">1,062<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,013<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_GovernmentAuthorities', window );">Government authorities receivables</a></td>
<td class="nump">3,752<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4,851<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInWorkingCapital', window );">Increase (decrease) in working capital</a></td>
<td class="nump">&#8364; 5,199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfIncomeForProduction', window );">Percentage of income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80.00%<span></span>
</td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepositsFromBanks', window );">Deposit value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 10,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfSecurityFundMonthlyReduction', window );">Pecentage of reducing fund</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_SecurityFundAmount', window );">Security fund amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CurrentIncomeReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current income receivable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CurrentIncomeReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_GovernmentAuthorities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current amounts owed from government authorities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_GovernmentAuthorities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfIncomeForProduction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represent the percentage percentage of income for production.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfIncomeForProduction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfSecurityFundMonthlyReduction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>It represents percentage of security fund monthly reduction.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfSecurityFundMonthlyReduction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_SecurityFundAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Security fund amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_SecurityFundAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentRestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentRestrictedCashAndCashEquivalents</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 68<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTradeReceivables</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepositsFromBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of deposit liabilities from banks held by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepositsFromBanks</td>
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<td>instant</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialInstrumentsAbstract</td>
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<td>xbrli:stringItemType</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in working capital.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 20<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInWorkingCapital</td>
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<td>ifrs-full_</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentRestrictedCashAndCashEquivalents</td>
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<td>xbrli:monetaryItemType</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583033165424">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial Instruments (Details) - Schedule of Transactions in Derivative Financial Instruments<br> &#8364; in Thousands, $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofTransactionsinDerivativeFinancialInstrumentsLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Transactions in Derivative Financial Instruments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Derivatives presented under current assets</a></td>
<td class="nump">&#8364; 275<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 273<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Derivatives presented under non-current assets</a></td>
<td class="nump">10,948<span></span>
</td>
<td class="nump">$ 12,109<span></span>
</td>
<td class="nump">1,488<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Derivatives presented under current liabilities</a></td>
<td class="num">(4,643)<span></span>
</td>
<td class="num">(5,135)<span></span>
</td>
<td class="num">(33,183)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Derivatives presented under non-current liabilities</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(28,354)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember', window );">Swap contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofTransactionsinDerivativeFinancialInstrumentsLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Transactions in Derivative Financial Instruments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Derivatives presented under current assets</a></td>
<td class="nump">275<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">273<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Derivatives presented under non-current assets</a></td>
<td class="nump">607<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,488<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ello_FinancialPowerSwapMember', window );">Financial power swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofTransactionsinDerivativeFinancialInstrumentsLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Transactions in Derivative Financial Instruments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Derivatives presented under non-current assets</a></td>
<td class="nump">10,341<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Derivatives presented under current liabilities</a></td>
<td class="num">(4,643)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(33,183)<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Derivatives presented under non-current liabilities</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (28,354)<span></span>
</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_FinancialInstrumentsDetailsScheduleofTransactionsinDerivativeFinancialInstrumentsLineItems">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FinancialInstrumentsDetailsScheduleofTransactionsinDerivativeFinancialInstrumentsLineItems</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current derivative financial assets. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDerivativeFinancialAssets</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDerivativeFinancialLiabilities</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial assets. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ello_FinancialPowerSwapMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ello_FinancialPowerSwapMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583038978112">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Instruments (Details) - Schedule of Forward and Swap Contracts<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ello_InterestSwapTransactionThreeMember', window );">Interest Swap Transaction Three [Member] | Semi-annually [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofForwardandSwapContractsLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Forward and Swap Contracts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DescriptionOfCurrencyLinkageReceivable', window );">Description of currency linkage / interest rate receivable</a></td>
<td class="text">Euribor 6 months<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DescriptionOfCurrencyLinkagePayable', window );">Description of currency linkage / interest rate Payable</a></td>
<td class="text">Fixed 1%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfLineItemInStatementOfFinancialPositionThatIncludesHedgingInstrument', window );">Date of expiration</a></td>
<td class="text">December 20,&#160;2037<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value</a></td>
<td class="nump">&#8364; 882<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ello_FinancialPowerSwapMember', window );">Financial power swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofForwardandSwapContractsLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Forward and Swap Contracts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DescriptionOfCurrencyLinkageReceivable', window );">Description of currency linkage / interest rate receivable</a></td>
<td class="text">Electricity price in Spain<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DescriptionOfCurrencyLinkagePayable', window );">Description of currency linkage / interest rate Payable</a></td>
<td class="text">Fixed price<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfLineItemInStatementOfFinancialPositionThatIncludesHedgingInstrument', window );">Date of expiration</a></td>
<td class="text">September 30,&#160;2030<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value</a></td>
<td class="nump">&#8364; 5,698<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DescriptionOfCurrencyLinkagePayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Currency/linkage payable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DescriptionOfCurrencyLinkagePayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DescriptionOfCurrencyLinkageReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Currency/linkage receivable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DescriptionOfCurrencyLinkageReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_FinancialInstrumentsDetailsScheduleofForwardandSwapContractsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FinancialInstrumentsDetailsScheduleofForwardandSwapContractsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfLineItemInStatementOfFinancialPositionThatIncludesHedgingInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of the line item in the statement of financial position that includes the hedging instrument. [Refer: Hedging instruments [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 24A<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_24A_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfLineItemInStatementOfFinancialPositionThatIncludesHedgingInstrument</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value of financial instruments designated as hedging instruments. Hedging instruments are designated derivatives or (for a hedge of the risk of changes in foreign currency exchange rates only) designated non-derivative financial assets or non-derivative financial liabilities whose fair value or cash flows are expected to offset changes in the fair value or cash flows of a designated hedged item. [Refer: At fair value [member]; Derivatives [member]; Derivative financial assets; Derivative financial liabilities; Financial instruments, class [member]; Financial assets; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expired 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 22<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_22_b&amp;doctype=Standard&amp;book=b<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ello_InterestSwapTransactionThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ello_InterestSwapTransactionThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_SemiAnnuallyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_SemiAnnuallyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ello_FinancialPowerSwapMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ello_FinancialPowerSwapMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>133
<FILENAME>R110.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022944800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Instruments (Details) - Schedule of Forward and Swap Contracts (Parentheticals) - Interest Swap Transaction Three [Member] - Semi-annually [Member]<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofForwardandSwapContractsParentheticalsLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Forward and Swap Contracts (Parentheticals) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_interestswapTransaction', window );">Interest swap transaction period</a></td>
<td class="nump">&#8364; 17.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_InterestSwapTransactionPeriod', window );">Euro interest swap transaction for a period</a></td>
<td class="text">18 years<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_FinancialInstrumentsDetailsScheduleofForwardandSwapContractsParentheticalsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FinancialInstrumentsDetailsScheduleofForwardandSwapContractsParentheticalsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_InterestSwapTransactionPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Interest swap transaction period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_InterestSwapTransactionPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_interestswapTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Interest swap transaction period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_interestswapTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ello_InterestSwapTransactionThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ello_InterestSwapTransactionThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ello_SemiAnnuallyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583027863616">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial Instruments (Details) - Schedule of Contractual Maturities of Financial Liabilities - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_CarryingAmountMember', window );">Carrying amount [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofContractualMaturitiesofFinancialLiabilitiesLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Contractual Maturities of Financial Liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Long-term loans, including current maturities</a></td>
<td class="nump">&#8364; 281,938<span></span>
</td>
<td class="nump">&#8364; 273,863<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Debentures</a></td>
<td class="nump">140,087<span></span>
</td>
<td class="nump">110,428<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossLeaseLiabilities', window );">Lease liabilities</a></td>
<td class="nump">24,380<span></span>
</td>
<td class="nump">22,750<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Trade payables, other accounts payable and Other long-term liabilities</a></td>
<td class="nump">14,496<span></span>
</td>
<td class="nump">15,144<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows', window );">Total non-derivative financial liabilities</a></td>
<td class="nump">460,901<span></span>
</td>
<td class="nump">422,185<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialPowerSwap', window );">Financial power swap</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">61,537<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ello_ContractualCashFlowsMember', window );">Contractual cash flows [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofContractualMaturitiesofFinancialLiabilitiesLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Contractual Maturities of Financial Liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Long-term loans, including current maturities</a></td>
<td class="nump">375,334<span></span>
</td>
<td class="nump">363,553<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Debentures</a></td>
<td class="nump">158,051<span></span>
</td>
<td class="nump">141,140<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossLeaseLiabilities', window );">Lease liabilities</a></td>
<td class="nump">47,011<span></span>
</td>
<td class="nump">35,911<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Trade payables, other accounts payable and Other long-term liabilities</a></td>
<td class="nump">14,496<span></span>
</td>
<td class="nump">15,144<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows', window );">Total non-derivative financial liabilities</a></td>
<td class="nump">594,892<span></span>
</td>
<td class="nump">555,748<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialPowerSwap', window );">Financial power swap</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">61,537<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ello_LessThanOneYearMember', window );">Less than 1 year [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofContractualMaturitiesofFinancialLiabilitiesLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Contractual Maturities of Financial Liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Long-term loans, including current maturities</a></td>
<td class="nump">21,883<span></span>
</td>
<td class="nump">30,392<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Debentures</a></td>
<td class="nump">41,100<span></span>
</td>
<td class="nump">22,878<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossLeaseLiabilities', window );">Lease liabilities</a></td>
<td class="nump">1,916<span></span>
</td>
<td class="nump">1,630<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Trade payables, other accounts payable and Other long-term liabilities</a></td>
<td class="nump">13,703<span></span>
</td>
<td class="nump">13,518<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows', window );">Total non-derivative financial liabilities</a></td>
<td class="nump">78,602<span></span>
</td>
<td class="nump">68,418<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialPowerSwap', window );">Financial power swap</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">33,183<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2-3 years [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofContractualMaturitiesofFinancialLiabilitiesLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Contractual Maturities of Financial Liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Long-term loans, including current maturities</a></td>
<td class="nump">41,743<span></span>
</td>
<td class="nump">42,547<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Debentures</a></td>
<td class="nump">72,088<span></span>
</td>
<td class="nump">62,710<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossLeaseLiabilities', window );">Lease liabilities</a></td>
<td class="nump">3,895<span></span>
</td>
<td class="nump">3,233<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Trade payables, other accounts payable and Other long-term liabilities</a></td>
<td class="nump">793<span></span>
</td>
<td class="nump">813<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows', window );">Total non-derivative financial liabilities</a></td>
<td class="nump">118,519<span></span>
</td>
<td class="nump">109,303<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialPowerSwap', window );">Financial power swap</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">26,424<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember', window );">4-5 years [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofContractualMaturitiesofFinancialLiabilitiesLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Contractual Maturities of Financial Liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Long-term loans, including current maturities</a></td>
<td class="nump">59,691<span></span>
</td>
<td class="nump">43,381<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Debentures</a></td>
<td class="nump">30,738<span></span>
</td>
<td class="nump">55,552<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossLeaseLiabilities', window );">Lease liabilities</a></td>
<td class="nump">3,903<span></span>
</td>
<td class="nump">3,194<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Trade payables, other accounts payable and Other long-term liabilities</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">813<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows', window );">Total non-derivative financial liabilities</a></td>
<td class="nump">94,332<span></span>
</td>
<td class="nump">102,940<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialPowerSwap', window );">Financial power swap</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,666)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">More than 5 years [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofContractualMaturitiesofFinancialLiabilitiesLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Contractual Maturities of Financial Liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Long-term loans, including current maturities</a></td>
<td class="nump">252,017<span></span>
</td>
<td class="nump">247,233<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Debentures</a></td>
<td class="nump">14,125<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossLeaseLiabilities', window );">Lease liabilities</a></td>
<td class="nump">37,297<span></span>
</td>
<td class="nump">27,854<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Trade payables, other accounts payable and Other long-term liabilities</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows', window );">Total non-derivative financial liabilities</a></td>
<td class="nump">&#8364; 303,439<span></span>
</td>
<td class="nump">275,087<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialPowerSwap', window );">Financial power swap</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4,596<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_FinancialInstrumentsDetailsScheduleofContractualMaturitiesofFinancialLiabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FinancialInstrumentsDetailsScheduleofContractualMaturitiesofFinancialLiabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_FinancialPowerSwap">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financial power swap.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FinancialPowerSwap</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BankBorrowingsUndiscountedCashFlows">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual undiscounted cash flows in relation to bank borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph B11D<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B11D&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph IG31A<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_IG31A&amp;doctype=Implementation%20Guidance<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BankBorrowingsUndiscountedCashFlows</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BondsIssuedUndiscountedCashFlows">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual undiscounted cash flows in relation to bonds issued. [Refer: Bonds issued]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph B11D<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B11D&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph IG31A<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_IG31A&amp;doctype=Implementation%20Guidance<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BondsIssuedUndiscountedCashFlows</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual undiscounted cash flows in relation to lease liabilities before deducting finance charges. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 58<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_58&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph B11D<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B11D_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual undiscounted cash flows in relation to non-derivative financial liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 39<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_39_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonderivativeFinancialLiabilitiesUndiscountedCashFlows</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual undiscounted cash flows in relation to trade and other payables. [Refer: Trade and other payables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph B11D<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B11D&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph IG31A<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_IG31A&amp;doctype=Implementation%20Guidance<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_CarryingAmountMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_CarryingAmountMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ello_ContractualCashFlowsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ello_ContractualCashFlowsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ello_LessThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ello_LessThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>135
<FILENAME>R112.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583024277568">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Financial Instruments (Details) - Schedule of Company's Exposure to Linkage and Foreign Currency Risk<br> &#8364; in Thousands, $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsAbstract', window );"><strong>Current assets:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">&#8364; 51,127<span></span>
</td>
<td class="nump">$ 56,548<span></span>
</td>
<td class="nump">&#8364; 46,458<span></span>
</td>
<td class="nump">$ 51,384<span></span>
</td>
<td class="nump">&#8364; 41,229<span></span>
</td>
<td class="nump">&#8364; 66,845<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentHeldtomaturityInvestments', window );">Marketable securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,836<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ShortTermDeposits', window );">Short term deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">997<span></span>
</td>
<td class="nump">1,103<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RestrictedCashAndLongTermBankDeposits', window );">Restricted cash</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">810<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ReceivableFromConcessionProjectCurrentAssets', window );">Receivable from concession project</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,799<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IntangibleAssetFromGreenCertificates', window );">Intangible asset from green certificates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">553<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesDueFromAssociates', window );">Trade and other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11,992<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale', window );">Assets of disposal groups classified as held for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">28,297<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentAssetsAbstract', window );"><strong>Non-current assets:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments in equity accounted investees</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">31,772<span></span>
</td>
<td class="nump">35,141<span></span>
</td>
<td class="nump">30,029<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AdvancesOnAccountOfInvestments', window );">Advances on account of investments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">898<span></span>
</td>
<td class="nump">993<span></span>
</td>
<td class="nump">2,328<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ReceivableFromConcessionProjectNonCurrentAssets', window );">Receivable from concession project</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24,795<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Fixed assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">407,982<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">365,756<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use asset</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">30,967<span></span>
</td>
<td class="nump">34,251<span></span>
</td>
<td class="nump">30,020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible asset</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,094<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCashAndCashEquivalents', window );">Restricted cash and deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17,386<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20,192<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,677<span></span>
</td>
<td class="nump">9,597<span></span>
</td>
<td class="nump">23,510<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentTradeReceivables', window );">Long term receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,446<span></span>
</td>
<td class="nump">11,554<span></span>
</td>
<td class="nump">9,270<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Derivatives</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,948<span></span>
</td>
<td class="nump">12,109<span></span>
</td>
<td class="nump">1,488<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilitiesAbstract', window );"><strong>Current liabilities:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived', window );">Current maturities of long-term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(9,784)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(12,815)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturitiesOfLongtermLoans', window );">Current maturities of long-term loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Current maturities of debentures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(35,200)<span></span>
</td>
<td class="num">(38,933)<span></span>
</td>
<td class="num">(18,714)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers', window );">Trade payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,249)<span></span>
</td>
<td class="num">(5,808)<span></span>
</td>
<td class="num">(4,504)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentPayables', window );">Other payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(10,859)<span></span>
</td>
<td class="num">(12,010)<span></span>
</td>
<td class="num">(11,207)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current maturities of derivatives</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(4,643)<span></span>
</td>
<td class="num">(5,135)<span></span>
</td>
<td class="num">(33,183)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current maturities of lease liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(700)<span></span>
</td>
<td class="num">(774)<span></span>
</td>
<td class="num">(745)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities of disposal groups classified as held for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(17,142)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Long-term lease liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(23,680)<span></span>
</td>
<td class="num">(26,191)<span></span>
</td>
<td class="num">(22,005)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankAcceptanceLiabilities', window );">Long-term loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(237,781)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(229,466)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings', window );">Other long-term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(29,373)<span></span>
</td>
<td class="num">(32,488)<span></span>
</td>
<td class="num">(21,582)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Debentures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(104,887)<span></span>
</td>
<td class="num">(116,009)<span></span>
</td>
<td class="num">(91,714)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,516)<span></span>
</td>
<td class="num">(2,783)<span></span>
</td>
<td class="num">(6,770)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Derivatives</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(28,354)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentFinancialLiabilities', window );">Other long-term liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(939)<span></span>
</td>
<td class="num">(1,039)<span></span>
</td>
<td class="num">(2,021)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total exposure in statement of financial position in respect of financial assets and financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">125,099<span></span>
</td>
<td class="nump">138,364<span></span>
</td>
<td class="nump">83,077<span></span>
</td>
<td class="nump">91,885<span></span>
</td>
<td class="nump">&#8364; 114,107<span></span>
</td>
<td class="nump">&#8364; 125,026<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ello_NonMonetaryMember', window );">Non-monetary/ Non finance [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsAbstract', window );"><strong>Current assets:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentHeldtomaturityInvestments', window );">Marketable securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ShortTermDeposits', window );">Short term deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RestrictedCashAndLongTermBankDeposits', window );">Restricted cash</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ReceivableFromConcessionProjectCurrentAssets', window );">Receivable from concession project</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IntangibleAssetFromGreenCertificates', window );">Intangible asset from green certificates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">553<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesDueFromAssociates', window );">Trade and other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,584<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,174<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale', window );">Assets of disposal groups classified as held for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">28,297<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentAssetsAbstract', window );"><strong>Non-current assets:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments in equity accounted investees</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">31,772<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,976<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AdvancesOnAccountOfInvestments', window );">Advances on account of investments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">898<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,328<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ReceivableFromConcessionProjectNonCurrentAssets', window );">Receivable from concession project</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Fixed assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">407,982<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">365,756<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use asset</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">30,967<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible asset</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,094<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCashAndCashEquivalents', window );">Restricted cash and deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,677<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,510<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentTradeReceivables', window );">Long term receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,350<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,840<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Derivatives</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilitiesAbstract', window );"><strong>Current liabilities:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived', window );">Current maturities of long-term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturitiesOfLongtermLoans', window );">Current maturities of long-term loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Current maturities of debentures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers', window );">Trade payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentPayables', window );">Other payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(553)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current maturities of derivatives</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current maturities of lease liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities of disposal groups classified as held for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(17,142)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Long-term lease liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankAcceptanceLiabilities', window );">Long-term loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings', window );">Other long-term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Debentures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,516)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(6,770)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Derivatives</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentFinancialLiabilities', window );">Other long-term liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total exposure in statement of financial position in respect of financial assets and financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">500,869<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">452,928<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ello_CurrencyRiskNisMember', window );">NIS [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsAbstract', window );"><strong>Current assets:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">34,990<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,359<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentHeldtomaturityInvestments', window );">Marketable securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ShortTermDeposits', window );">Short term deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">997<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RestrictedCashAndLongTermBankDeposits', window );">Restricted cash</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ReceivableFromConcessionProjectCurrentAssets', window );">Receivable from concession project</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,799<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IntangibleAssetFromGreenCertificates', window );">Intangible asset from green certificates</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesDueFromAssociates', window );">Trade and other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">2,660<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,694<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale', window );">Assets of disposal groups classified as held for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentAssetsAbstract', window );"><strong>Non-current assets:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments in equity accounted investees</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,053<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AdvancesOnAccountOfInvestments', window );">Advances on account of investments</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ReceivableFromConcessionProjectNonCurrentAssets', window );">Receivable from concession project</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24,795<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Fixed assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use asset</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible asset</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCashAndCashEquivalents', window );">Restricted cash and deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">3,558<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,607<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentTradeReceivables', window );">Long term receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,096<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,171<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Derivatives</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilitiesAbstract', window );"><strong>Current liabilities:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived', window );">Current maturities of long-term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,091)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturitiesOfLongtermLoans', window );">Current maturities of long-term loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Current maturities of debentures</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(35,200)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(18,714)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers', window );">Trade payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(832)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(123)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentPayables', window );">Other payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(9,445)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(6,107)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current maturities of derivatives</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current maturities of lease liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(105)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(193)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities of disposal groups classified as held for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Long-term lease liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(3,176)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,740)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankAcceptanceLiabilities', window );">Long-term loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(69,685)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(13,495)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings', window );">Other long-term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(8,452)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,538)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Debentures</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(104,887)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(91,714)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Derivatives</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentFinancialLiabilities', window );">Other long-term liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(939)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,021)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total exposure in statement of financial position in respect of financial assets and financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(189,420)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(72,258)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=currency_USD', window );">USD [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsAbstract', window );"><strong>Current assets:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">55<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentHeldtomaturityInvestments', window );">Marketable securities | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,836<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ShortTermDeposits', window );">Short term deposits | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RestrictedCashAndLongTermBankDeposits', window );">Restricted cash | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ReceivableFromConcessionProjectCurrentAssets', window );">Receivable from concession project | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IntangibleAssetFromGreenCertificates', window );">Intangible asset from green certificates | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesDueFromAssociates', window );">Trade and other receivables | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale', window );">Assets of disposal groups classified as held for sale | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentAssetsAbstract', window );"><strong>Non-current assets:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments in equity accounted investees | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AdvancesOnAccountOfInvestments', window );">Advances on account of investments | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ReceivableFromConcessionProjectNonCurrentAssets', window );">Receivable from concession project | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Fixed assets | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use asset | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible asset | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCashAndCashEquivalents', window );">Restricted cash and deposits | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentTradeReceivables', window );">Long term receivables | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Derivatives | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilitiesAbstract', window );"><strong>Current liabilities:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived', window );">Current maturities of long-term bank loans | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturitiesOfLongtermLoans', window );">Current maturities of long-term loans | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Current maturities of debentures | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers', window );">Trade payables | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(154)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentPayables', window );">Other payables | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current maturities of derivatives | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current maturities of lease liabilities | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities of disposal groups classified as held for sale | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Long-term lease liabilities | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,150)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankAcceptanceLiabilities', window );">Long-term loans | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings', window );">Other long-term bank loans | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Debentures | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Derivatives | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentFinancialLiabilities', window );">Other long-term liabilities | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total exposure in statement of financial position in respect of financial assets and financial liabilities | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,885<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,907<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=srt_EuropeMember', window );">EURO [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsAbstract', window );"><strong>Current assets:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11,938<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,044<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentHeldtomaturityInvestments', window );">Marketable securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ShortTermDeposits', window );">Short term deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RestrictedCashAndLongTermBankDeposits', window );">Restricted cash</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">810<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ReceivableFromConcessionProjectCurrentAssets', window );">Receivable from concession project</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IntangibleAssetFromGreenCertificates', window );">Intangible asset from green certificates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesDueFromAssociates', window );">Trade and other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,748<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,798<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale', window );">Assets of disposal groups classified as held for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentAssetsAbstract', window );"><strong>Non-current assets:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments in equity accounted investees</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AdvancesOnAccountOfInvestments', window );">Advances on account of investments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ReceivableFromConcessionProjectNonCurrentAssets', window );">Receivable from concession project</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Fixed assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use asset</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible asset</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCashAndCashEquivalents', window );">Restricted cash and deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13,828<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,585<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentTradeReceivables', window );">Long term receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">259<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Derivatives</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,948<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,488<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilitiesAbstract', window );"><strong>Current liabilities:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived', window );">Current maturities of long-term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(9,784)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,724)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CurrentMaturitiesOfLongtermLoans', window );">Current maturities of long-term loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Current maturities of debentures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers', window );">Trade payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(4,263)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,381)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentPayables', window );">Other payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(861)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5,100)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current maturities of derivatives</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(4,643)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(33,183)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current maturities of lease liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(585)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(552)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities of disposal groups classified as held for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Long-term lease liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(18,354)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(17,265)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankAcceptanceLiabilities', window );">Long-term loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(168,096)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(215,971)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings', window );">Other long-term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(20,921)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(14,044)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued', window );">Debentures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Derivatives</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(28,354)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentFinancialLiabilities', window );">Other long-term liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total exposure in statement of financial position in respect of financial assets and financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">&#8364; (188,235)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (300,500)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="7"></td></tr>
<tr><td colspan="7"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Including items linked to the Israeli CPI</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AdvancesOnAccountOfInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Advances on account of investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AdvancesOnAccountOfInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Assets of disposal groups classified as held for sale.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AssetsOfDisposalGroupsClassifiedAsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CurrentMaturitiesOfLongtermLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current maturities of long-term loans.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CurrentMaturitiesOfLongtermLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_IntangibleAssetFromGreenCertificates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible asset from green certificates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_IntangibleAssetFromGreenCertificates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Liabilities of disposal groups classified as held for sale.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_NonCurrentAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_NonCurrentAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_NonCurrentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_NonCurrentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ReceivableFromConcessionProjectCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Receivable from concession project.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ReceivableFromConcessionProjectCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ReceivableFromConcessionProjectNonCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Receivable from concession project.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ReceivableFromConcessionProjectNonCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RestrictedCashAndLongTermBankDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Restricted cash and long-term bank deposits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RestrictedCashAndLongTermBankDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ShortTermDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of short-term deposits held by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ShortTermDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BankAcceptanceLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of bank acceptances recognised as liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BankAcceptanceLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentHeldtomaturityInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current held-to-maturity investments. [Refer: Held-to-maturity investments]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expired 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 8<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_8_b&amp;doctype=Standard&amp;book=b<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentHeldtomaturityInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current notes and debentures issued and the current portion of non-current notes and debentures issued. [Refer: Notes and debentures issued]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentReceivablesDueFromAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current receivables due from associates. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentReceivablesDueFromAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current secured bank loans received and the current portion of non-current secured bank loans received. [Refer: Secured bank loans received]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of identifiable non-monetary assets without physical substance. This amount does not include goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2023-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of investments accounted for using the equity method. The equity method is a method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor's share of net assets of the investee. The investor's profit or loss includes its share of the profit or loss of the investee. The investor's other comprehensive income includes its share of the other comprehensive income of the investee. [Refer: At cost [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B16&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial assets. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current notes and debentures issued. [Refer: Notes and debentures issued]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued</td>
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<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current other borrowings. [Refer: Other borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentPortionOfOtherNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and cash equivalents that the entity does not separately disclose in the same statement or note. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial liabilities that the entity does not separately disclose in the same statement or note. [Refer: Other financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B13<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B13_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph m<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_m&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term that do not meet the definition of investment property. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 53<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current amount of payment due to suppliers for goods and services used in entity's business. [Refer: Current liabilities; Trade payables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 70<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_70&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ello_NonMonetaryMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=currency_USD</td>
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<td></td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Instruments (Details) - Schedule of Significant Exchange Rates - Currency Risk Euro [Member]<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
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<th class="th"><div>Dec. 31, 2023</div></th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfSignificantExchangeRatesLineItems', window );"><strong>Schedule of Significant Exchange Rates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfChangeInForeignCurrency', window );">Rate of Change</a></td>
<td class="nump">3.70%<span></span>
</td>
<td class="num">(5.80%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Exchange rates</a></td>
<td class="nump">1.106<span></span>
</td>
<td class="nump">1.066<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ello_CurrencyRiskEuroMember', window );">NIS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfSignificantExchangeRatesLineItems', window );"><strong>Schedule of Significant Exchange Rates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PercentageOfChangeInForeignCurrency', window );">Rate of Change</a></td>
<td class="nump">6.90%<span></span>
</td>
<td class="nump">6.60%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Exchange rates</a></td>
<td class="nump">4.012<span></span>
</td>
<td class="nump">3.753<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PercentageOfChangeInForeignCurrency">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of spot exchange rate at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PercentageOfChangeInForeignCurrency</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfSignificantExchangeRatesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfSignificantExchangeRatesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClosingForeignExchangeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The spot exchange rate at the end of the reporting period. Exchange rate is the ratio of exchange for two currencies. Spot exchange rate is the exchange rate for immediate delivery.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClosingForeignExchangeRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ello_CurrencyRiskEuroMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ello_CurrencyRiskEuroMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_USD">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_USD</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_ILS">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_ILS</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>137
<FILENAME>R114.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583029849216">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Instruments (Details) - Schedule of Sensitivity Analysis of Equity - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ello_IncreaseEquityMember', window );">Increase Equity [Member] | USD [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfSensitivityAnalysisOfEquityLineItems', window );"><strong>Schedule of Sensitivity Analysis of Equity [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ChangeInExchangeRateOfIncreaseDecreaseOfEquity', window );">Change in the exchange rate</a></td>
<td class="num">&#8364; (90)<span></span>
</td>
<td class="nump">&#8364; 155<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ello_IncreaseEquityMember', window );">Increase Equity [Member] | NIS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfSensitivityAnalysisOfEquityLineItems', window );"><strong>Schedule of Sensitivity Analysis of Equity [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ChangeInExchangeRateOfIncreaseDecreaseOfEquity', window );">Change in the exchange rate</a></td>
<td class="num">(9,471)<span></span>
</td>
<td class="num">(963)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ello_DecreaseEquityMember', window );">Decrease Equity [Member] | USD [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfSensitivityAnalysisOfEquityLineItems', window );"><strong>Schedule of Sensitivity Analysis of Equity [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ChangeInExchangeRateOfIncreaseDecreaseOfEquity', window );">Change in the exchange rate</a></td>
<td class="nump">99<span></span>
</td>
<td class="num">(155)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ello_DecreaseEquityMember', window );">Decrease Equity [Member] | NIS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfSensitivityAnalysisOfEquityLineItems', window );"><strong>Schedule of Sensitivity Analysis of Equity [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ChangeInExchangeRateOfIncreaseDecreaseOfEquity', window );">Change in the exchange rate</a></td>
<td class="nump">&#8364; 9,471<span></span>
</td>
<td class="nump">&#8364; 963<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ChangeInExchangeRateOfIncreaseDecreaseOfEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Change in exchange rate of increase (decrease) of equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ChangeInExchangeRateOfIncreaseDecreaseOfEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
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<td>xbrli:monetaryItemType</td>
</tr>
<tr>
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<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ScheduleOfSensitivityAnalysisOfEquityLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfSensitivityAnalysisOfEquityLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
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<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ello_IncreaseEquityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=currency_USD">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=currency_USD</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=currency_ILS</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ello_DecreaseEquityMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583029162576">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Instruments (Details) - Schedule of Change in Interest Rate Profit (Loss) - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ello_IncreaseOnePercentageMember', window );">Increase of 1% [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfChangeInInterestRateProfitLossLineItems', window );"><strong>Schedule of Change in Interest Rate Profit (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IncreaseddecreasedProfitOrLoss', window );">Increased (decreased) profit or loss</a></td>
<td class="nump">&#8364; 736<span></span>
</td>
<td class="nump">&#8364; 161<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ello_IncreaseOfThreePercentageMember', window );">Increase of 3% [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfChangeInInterestRateProfitLossLineItems', window );"><strong>Schedule of Change in Interest Rate Profit (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IncreaseddecreasedProfitOrLoss', window );">Increased (decreased) profit or loss</a></td>
<td class="nump">2,204<span></span>
</td>
<td class="nump">520<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ello_DecreaseOfOnePercentageMember', window );">Decrease of 1% [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfChangeInInterestRateProfitLossLineItems', window );"><strong>Schedule of Change in Interest Rate Profit (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IncreaseddecreasedProfitOrLoss', window );">Increased (decreased) profit or loss</a></td>
<td class="num">(734)<span></span>
</td>
<td class="num">(196)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ello_DecreaseOfThreePercentageMember', window );">Decrease of 3% [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ScheduleOfChangeInInterestRateProfitLossLineItems', window );"><strong>Schedule of Change in Interest Rate Profit (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_IncreaseddecreasedProfitOrLoss', window );">Increased (decreased) profit or loss</a></td>
<td class="num">&#8364; (2,201)<span></span>
</td>
<td class="num">&#8364; (556)<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increased (decreased) profit or loss.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_IncreaseddecreasedProfitOrLoss</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ScheduleOfChangeInInterestRateProfitLossLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ello_IncreaseOnePercentageMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ello_IncreaseOfThreePercentageMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ello_DecreaseOfOnePercentageMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ello_DecreaseOfThreePercentageMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>139
<FILENAME>R116.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
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<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583039127024">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Instruments (Details) - Schedule of Fair Values of the Other Financial Liabilities - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract1', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Carrying amount, Total</a></td>
<td class="nump">&#8364; 422,025<span></span>
</td>
<td class="nump">&#8364; 384,291<span></span>
</td>
<td class="nump">&#8364; 356,194<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember', window );">Carrying amount [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract1', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Carrying amount, Debentures</a></td>
<td class="nump">140,087<span></span>
</td>
<td class="nump">110,428<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Carrying amount, Loans from banks and others (including current maturities)</a></td>
<td class="nump">281,938<span></span>
</td>
<td class="nump">273,863<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Carrying amount, Total</a></td>
<td class="nump">&#8364; 422,025<span></span>
</td>
<td class="nump">&#8364; 384,291<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ello_ValuationTechniquesForDeterminingFairValueMember', window );">Valuation techniques for determining fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract1', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementLiabilities', window );">Valuation techniques for determining fair value, Loans from banks and others (including current maturities)</a></td>
<td class="text">Discounting future cash flows by the market interest rate on the date of measurement.<span></span>
</td>
<td class="text">Discounting future cash flows by the market interest rate on the date of measurement.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ello_InputsUsedToDetermineFairValueMember', window );">Inputs used to determine fair value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract1', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities', window );">Inputs used to determine fair value, Loans from banks and others (including current maturities)</a></td>
<td class="text">See Note 21F(2)<span></span>
</td>
<td class="text">See Note 21F(2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract1', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Carrying amount, Debentures</a></td>
<td class="nump">&#8364; 134,464<span></span>
</td>
<td class="nump">&#8364; 102,957<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Carrying amount, Loans from banks and others (including current maturities)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Carrying amount, Total</a></td>
<td class="nump">134,464<span></span>
</td>
<td class="nump">102,957<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract1', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Carrying amount, Debentures</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
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<td class="nump">217,073<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
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<td class="nump">231,057<span></span>
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<td class="nump">217,073<span></span>
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<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract1', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Carrying amount, Debentures</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Carrying amount, Loans from banks and others (including current maturities)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Carrying amount, Total</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual undiscounted cash flows in relation to bank borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph B11D<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B11D&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph IG31A<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_IG31A&amp;doctype=Implementation%20Guidance<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BankBorrowingsUndiscountedCashFlows</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual undiscounted cash flows in relation to bonds issued. [Refer: Bonds issued]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph B11D<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B11D&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph IG31A<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_IG31A&amp;doctype=Implementation%20Guidance<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of inputs used in the fair value measurement of liabilities. Inputs are the assumptions that market participants would use when pricing the liability, including assumptions about risk such as the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and the risk inherent in the inputs to the valuation technique.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of the valuation techniques (for example, the market approach, cost approach and income approach) used for the fair value measurement of liabilities. [Refer: Valuation techniques [member]; Cost approach [member]; Income approach [member]; Market approach [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract3', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities', window );">Interest rates used to discount estimated cash flows</a></td>
<td class="text">Discount rate of Euribor+ 2% with a zero floor<span></span>
</td>
<td class="text">Discount rate of Euribor+ 2% with a zero floor<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ello_LoansFromBanksTwoMember', window );">Loans from banks Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract3', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities', window );">Interest rates used to discount estimated cash flows</a></td>
<td class="text">fixed rate for several years 3.1%-6% Linkage to Euribor<span></span>
</td>
<td class="text">fixed rate for 5 years 2.65%-4.5% Linkage to Euribor<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ello_LoansFromBanksThreeMember', window );">Loans from banks Three [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract3', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities', window );">Interest rates used to discount estimated cash flows</a></td>
<td class="text">2.58%-4.78% Linkage to Consumer price index in Israel<span></span>
</td>
<td class="text">2.58% Linkage to Israeli CPI<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ello_LoansFromBanksFourMember', window );">Loans from banks Four [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract3', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities', window );">Interest rates used to discount estimated cash flows</a></td>
<td class="text">Floating interest rate based on the Bank of Israel Rate plus a spread of 4.35%.<span></span>
</td>
<td class="text">Floating interest rate based on the Bank of Israel Rate plus a spread of 4.35%.<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ello_LoansFromBanksFiveMember', window );">Loans from banks five [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract3', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities', window );">Interest rates used to discount estimated cash flows</a></td>
<td class="text">fixed rate of 2.58%-3.03%<span></span>
</td>
<td class="text">fixed rate 2.58%-3.03%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ello_LoanFromOthersOneMember', window );">Loan From Others One [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract3', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities', window );">Interest rates used to discount estimated cash flows</a></td>
<td class="text">Euribor+ 5.27%<span></span>
</td>
<td class="text">Euribor+ 5.27%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ello_LoanFromOthersTwoMember', window );">Loan From Others Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_NonCurrentLiabilitiesAbstract3', window );"><strong>Non-current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities', window );">Interest rates used to discount estimated cash flows</a></td>
<td class="text">7% Linkage to Consumer price index in Israel and fixed rate of 5.5%<span></span>
</td>
<td class="text">7% Linkage to Israeli CPI and fixed rate of 5.5%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_NonCurrentLiabilitiesAbstract3">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_NonCurrentLiabilitiesAbstract3</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of inputs used in the fair value measurement of liabilities. Inputs are the assumptions that market participants would use when pricing the liability, including assumptions about risk such as the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and the risk inherent in the inputs to the valuation technique.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=ello_LoansFromBanksMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ello_LoansFromBanksMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=ello_LoansFromBanksTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ello_LoansFromBanksTwoMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=ello_LoansFromBanksThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ello_LoansFromBanksThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=ello_LoansFromBanksFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ello_LoansFromBanksFourMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=ello_LoansFromBanksFiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ello_LoansFromBanksFiveMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ello_LoanFromOthersOneMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ello_LoanFromOthersTwoMember</td>
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<td></td>
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<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
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<td></td>
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<head>
<title></title>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583027941696">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Instruments (Details) - Schedule of Fair Values Hierarchy - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_SwapContractsMember', window );">Swap Contracts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofFairValuesHierarchyLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Fair Values Hierarchy [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair values hierarchy value</a></td>
<td class="nump">&#8364; 882<span></span>
</td>
<td class="nump">&#8364; 1,761<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets', window );">Valuation techniques for determining fair value</a></td>
<td class="text">Fair value is measured by discounting the future cash flows, over the period of the contract and using market interest rates appropriate for similar instruments, including the adjustment required for the parties&#8217; credit risks.<span></span>
</td>
<td class="text">Fair value is measured by discounting the future cash flows, over the period of the contract and using market interest rates appropriate for similar instruments, including the adjustment required for the parties&#8217; credit risks.<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_SwapContractsMember', window );">Swap Contracts [Member] | Level 1 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofFairValuesHierarchyLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Fair Values Hierarchy [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair values hierarchy value</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_SwapContractsMember', window );">Swap Contracts [Member] | Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofFairValuesHierarchyLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Fair Values Hierarchy [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair values hierarchy value</a></td>
<td class="nump">882<span></span>
</td>
<td class="nump">1,761<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_SwapContractsMember', window );">Swap Contracts [Member] | Level 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofFairValuesHierarchyLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Fair Values Hierarchy [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair values hierarchy value</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_FinancialPowerSwapMember', window );">Financial power swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofFairValuesHierarchyLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Fair Values Hierarchy [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair values hierarchy value</a></td>
<td class="nump">&#8364; 5,698<span></span>
</td>
<td class="num">&#8364; (61,537)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets', window );">Valuation techniques for determining fair value</a></td>
<td class="text">Fair value is measured by discounting the future fixed and assessed cash flows, over the period of the contract and using market interest rates appropriate for similar instruments. The value is adjusted for the parties&#8217; credit risks.<span></span>
</td>
<td class="text">Fair value is measured by discounting the future fixed and assessed cash flows, over the period of the contract and using market interest rates appropriate for similar instruments. The value is adjusted for the parties&#8217; credit risks.<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_FinancialPowerSwapMember', window );">Financial power swap [Member] | Level 1 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofFairValuesHierarchyLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Fair Values Hierarchy [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair values hierarchy value</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_FinancialPowerSwapMember', window );">Financial power swap [Member] | Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofFairValuesHierarchyLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Fair Values Hierarchy [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair values hierarchy value</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_FinancialPowerSwapMember', window );">Financial power swap [Member] | Level 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofFairValuesHierarchyLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Fair Values Hierarchy [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair values hierarchy value</a></td>
<td class="nump">&#8364; 5,698<span></span>
</td>
<td class="num">(61,537)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_MarketableSecuritiesMember', window );">Marketable Securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofFairValuesHierarchyLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Fair Values Hierarchy [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair values hierarchy value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,836<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets', window );">Valuation techniques for determining fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Market price.<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_MarketableSecuritiesMember', window );">Marketable Securities [Member] | Level 1 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofFairValuesHierarchyLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Fair Values Hierarchy [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair values hierarchy value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,836<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_MarketableSecuritiesMember', window );">Marketable Securities [Member] | Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofFairValuesHierarchyLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Fair Values Hierarchy [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair values hierarchy value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_MarketableSecuritiesMember', window );">Marketable Securities [Member] | Level 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofFairValuesHierarchyLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Fair Values Hierarchy [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Fair values hierarchy value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FinancialInstrumentsDetailsScheduleofFairValuesHierarchyLineItems</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssets</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of the valuation techniques (for example, the market approach, cost approach and income approach) used for the fair value measurement of assets. [Refer: Valuation techniques [member]; Cost approach [member]; Income approach [member]; Market approach [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_SwapContractsMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
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<td><strong> Data Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_FinancialPowerSwapMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_MarketableSecuritiesMember</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583019284384">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Instruments (Details) - Schedule of Reconciliation Financial Instruments Carried at Fair Value - Dori Energy Loan [Member] - Level 3 of fair value hierarchy [member] - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th" colspan="2"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FinancialInstrumentsDetailsScheduleofReconciliationFinancialInstrumentsCarriedatFairValueLineItems', window );"><strong>Financial Instruments (Details) - Schedule of Reconciliation Financial Instruments Carried at Fair Value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability, Balance beginning</a></td>
<td class="num">&#8364; (61,537)<span></span>
</td>
<td class="num">&#8364; (20,894)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss', window );">Total income recognized in profit or loss</a></td>
<td class="nump">13,777<span></span>
</td>
<td class="nump">49,679<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsRecognisedInOtherComprehensiveIncome', window );">Total income recognized in other comprehensive income</a></td>
<td class="nump">53,548<span></span>
</td>
<td class="num">(90,322)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability, Balance ending</a></td>
<td class="nump">&#8364; 5,698<span></span>
</td>
<td class="num">&#8364; (61,537)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Reclassified</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FinancialInstrumentsDetailsScheduleofReconciliationFinancialInstrumentsCarriedatFairValueLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value gains (losses) recognised in other comprehensive income on financial assets reclassified out of the available-for-sale category. [Refer: Financial assets available-for-sale; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expired 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 12A<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_12A_d&amp;doctype=Standard&amp;book=b<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsRecognisedInOtherComprehensiveIncome</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in profit or loss on financial assets reclassified out of the fair value through profit or loss category. [Refer: Financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expired 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 12A<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_12A_e&amp;doctype=Standard&amp;book=b<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=ello_DoriEnergyLoanMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R120.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583030235936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Operating Segments (Details)<br> &#8364; in Thousands, $ in Millions</strong></div></th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsLineItems', window );"><strong>Operating Segments (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Production capacity | &#8364;</a></td>
<td class="nump">&#8364; 48,834<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 52,241<span></span>
</td>
<td class="nump">&#8364; 44,705<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AwardYearAxis=ello_YearOneMember', window );">Year One [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsLineItems', window );"><strong>Operating Segments (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Production capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AwardYearAxis=ello_YearTwoMember', window );">Year Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsLineItems', window );"><strong>Operating Segments (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Production capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AwardYearAxis=ello_YearThreeMember', window );">Year Three [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsLineItems', window );"><strong>Operating Segments (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Production capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=ello_TalasolMember', window );">Talasol [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsLineItems', window );"><strong>Operating Segments (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfEntitysRevenue', window );">Revenue percentage</a></td>
<td class="nump">51.00%<span></span>
</td>
<td class="nump">51.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=ello_DoradEnergyLtdMember', window );">Dorad Energy Ltd [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsLineItems', window );"><strong>Operating Segments (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PecentageOfIndirectInterest', window );">Pecentage of indirect interest</a></td>
<td class="nump">9.375%<span></span>
</td>
<td class="nump">9.375%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=ello_PumpedStorageHydroPowerPlantMember', window );">Pumped Storage Hydro Power Plant Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsLineItems', window );"><strong>Operating Segments (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PecentageOfIndirectInterest', window );">Pecentage of indirect interest</a></td>
<td class="nump">83.333%<span></span>
</td>
<td class="nump">83.333%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_OperatingSegmentsDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OperatingSegmentsDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PecentageOfIndirectInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of indirect interest in an associate attributable to the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PecentageOfIndirectInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from sources that the entity does not separately disclose in the same statement or note. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfEntitysRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of the entity's revenue. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfEntitysRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AwardYearAxis=ello_YearOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AwardYearAxis=ello_YearOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AwardYearAxis=ello_YearTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AwardYearAxis=ello_YearTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AwardYearAxis=ello_YearThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AwardYearAxis=ello_YearThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=ello_TalasolMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=ello_TalasolMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=ello_DoradEnergyLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=ello_DoradEnergyLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=ello_PumpedStorageHydroPowerPlantMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=ello_PumpedStorageHydroPowerPlantMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>144
<FILENAME>R121.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583032483968">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Operating Segments (Details) - Schedule of Segment Adjusted Gross Profit - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_IT', window );">Italy [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems', window );"><strong>Operating Segments (Details) - Schedule of Segment Adjusted Gross Profit [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Operating expenses</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expenses</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Adjusted gross profit (loss)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Segment assets</a></td>
<td class="nump">40,054<span></span>
</td>
<td class="nump">&#8364; 22,608<span></span>
</td>
<td class="nump">1,715<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems', window );"><strong>Operating Segments (Details) - Schedule of Segment Adjusted Gross Profit [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">2,791<span></span>
</td>
<td class="nump">3,264<span></span>
</td>
<td class="nump">2,587<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Operating expenses</a></td>
<td class="num">(517)<span></span>
</td>
<td class="num">(322)<span></span>
</td>
<td class="num">(472)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expenses</a></td>
<td class="num">(912)<span></span>
</td>
<td class="num">(908)<span></span>
</td>
<td class="num">(904)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="nump">1,362<span></span>
</td>
<td class="nump">2,034<span></span>
</td>
<td class="nump">1,211<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Adjusted gross profit (loss)</a></td>
<td class="nump">1,362<span></span>
</td>
<td class="nump">2,034<span></span>
</td>
<td class="nump">1,211<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Segment assets</a></td>
<td class="nump">12,807<span></span>
</td>
<td class="nump">14,577<span></span>
</td>
<td class="nump">13,841<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ello_EllomaySolarSpainMember', window );">Ellomay Solar Spain [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems', window );"><strong>Operating Segments (Details) - Schedule of Segment Adjusted Gross Profit [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">4,051<span></span>
</td>
<td class="nump">3,597<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Operating expenses</a></td>
<td class="num">(1,825)<span></span>
</td>
<td class="num">(1,399)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expenses</a></td>
<td class="num">(946)<span></span>
</td>
<td class="num">(427)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="nump">1,280<span></span>
</td>
<td class="nump">1,771<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Adjusted gross profit (loss)</a></td>
<td class="nump">1,280<span></span>
</td>
<td class="nump">1,771<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Segment assets</a></td>
<td class="nump">18,666<span></span>
</td>
<td class="nump">20,090<span></span>
</td>
<td class="nump">14,456<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ello_TalasolSpainMember', window );">Talasol Spain [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems', window );"><strong>Operating Segments (Details) - Schedule of Segment Adjusted Gross Profit [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">24,971<span></span>
</td>
<td class="nump">32,740<span></span>
</td>
<td class="nump">29,432<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Operating expenses</a></td>
<td class="num">(5,786)<span></span>
</td>
<td class="num">(8,764)<span></span>
</td>
<td class="num">(6,305)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expenses</a></td>
<td class="num">(11,459)<span></span>
</td>
<td class="num">(11,400)<span></span>
</td>
<td class="num">(10,586)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="nump">7,726<span></span>
</td>
<td class="nump">12,576<span></span>
</td>
<td class="nump">12,541<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Adjusted gross profit (loss)</a></td>
<td class="nump">7,726<span></span>
</td>
<td class="nump">12,576<span></span>
</td>
<td class="nump">12,541<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Segment assets</a></td>
<td class="nump">231,142<span></span>
</td>
<td class="nump">244,584<span></span>
</td>
<td class="nump">247,004<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_US', window );">USA [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems', window );"><strong>Operating Segments (Details) - Schedule of Segment Adjusted Gross Profit [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Operating expenses</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expenses</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Adjusted gross profit (loss)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Segment assets</a></td>
<td class="nump">6,267<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ello_DiscontinuedOperationIsraelMember', window );">Discontinued operation Israel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems', window );"><strong>Operating Segments (Details) - Schedule of Segment Adjusted Gross Profit [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">675<span></span>
</td>
<td class="nump">1,119<span></span>
</td>
<td class="nump">1,016<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Operating expenses</a></td>
<td class="num">(342)<span></span>
</td>
<td class="num">(418)<span></span>
</td>
<td class="num">(367)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expenses</a></td>
<td class="num">(461)<span></span>
</td>
<td class="num">(512)<span></span>
</td>
<td class="num">(475)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="num">(128)<span></span>
</td>
<td class="nump">189<span></span>
</td>
<td class="nump">174<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Adjusted gross profit (loss)</a></td>
<td class="nump">1,223<span></span>
</td>
<td class="nump">1,565<span></span>
</td>
<td class="nump">1,514<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Segment assets</a></td>
<td class="nump">28,297<span></span>
</td>
<td class="nump">34,750<span></span>
</td>
<td class="nump">38,809<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_NL', window );">Bio Gas Netherland [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems', window );"><strong>Operating Segments (Details) - Schedule of Segment Adjusted Gross Profit [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">17,021<span></span>
</td>
<td class="nump">12,640<span></span>
</td>
<td class="nump">12,686<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Operating expenses</a></td>
<td class="num">(14,733)<span></span>
</td>
<td class="num">(13,186)<span></span>
</td>
<td class="num">(10,446)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expenses</a></td>
<td class="num">(2,670)<span></span>
</td>
<td class="num">(2,824)<span></span>
</td>
<td class="num">(3,135)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="num">(382)<span></span>
</td>
<td class="num">(3,370)<span></span>
</td>
<td class="num">(895)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Adjusted gross profit (loss)</a></td>
<td class="num">(382)<span></span>
</td>
<td class="num">(3,370)<span></span>
</td>
<td class="num">(895)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Segment assets</a></td>
<td class="nump">31,164<span></span>
</td>
<td class="nump">32,002<span></span>
</td>
<td class="nump">34,570<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ello_DoradIsraelMember', window );">Dorad Israel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems', window );"><strong>Operating Segments (Details) - Schedule of Segment Adjusted Gross Profit [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">63,973<span></span>
</td>
<td class="nump">62,813<span></span>
</td>
<td class="nump">51,630<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Operating expenses</a></td>
<td class="num">(47,322)<span></span>
</td>
<td class="num">(47,442)<span></span>
</td>
<td class="num">(39,175)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expenses</a></td>
<td class="num">(5,689)<span></span>
</td>
<td class="num">(6,339)<span></span>
</td>
<td class="num">(5,539)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="nump">10,962<span></span>
</td>
<td class="nump">9,032<span></span>
</td>
<td class="nump">6,916<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Adjusted gross profit (loss)</a></td>
<td class="nump">10,962<span></span>
</td>
<td class="nump">9,032<span></span>
</td>
<td class="nump">6,916<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Segment assets</a></td>
<td class="nump">97,339<span></span>
</td>
<td class="nump">107,079<span></span>
</td>
<td class="nump">118,435<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ello_ManaraIsraelMember', window );">Manara Israel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems', window );"><strong>Operating Segments (Details) - Schedule of Segment Adjusted Gross Profit [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Operating expenses</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expenses</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Adjusted gross profit (loss)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Segment assets</a></td>
<td class="nump">169,783<span></span>
</td>
<td class="nump">137,432<span></span>
</td>
<td class="nump">107,678<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ifrs-full_ReportableSegmentsMember', window );">Reportable Segments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems', window );"><strong>Operating Segments (Details) - Schedule of Segment Adjusted Gross Profit [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">113,482<span></span>
</td>
<td class="nump">116,173<span></span>
</td>
<td class="nump">97,351<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Operating expenses</a></td>
<td class="num">(70,525)<span></span>
</td>
<td class="num">(71,531)<span></span>
</td>
<td class="num">(56,765)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expenses</a></td>
<td class="num">(22,137)<span></span>
</td>
<td class="num">(22,410)<span></span>
</td>
<td class="num">(20,639)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="nump">20,820<span></span>
</td>
<td class="nump">22,232<span></span>
</td>
<td class="nump">19,947<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Adjusted gross profit (loss)</a></td>
<td class="nump">22,171<span></span>
</td>
<td class="nump">23,608<span></span>
</td>
<td class="nump">21,287<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Segment assets</a></td>
<td class="nump">635,519<span></span>
</td>
<td class="nump">613,122<span></span>
</td>
<td class="nump">576,508<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ello_ReconciliationsMember', window );">Reconciliations [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems', window );"><strong>Operating Segments (Details) - Schedule of Segment Adjusted Gross Profit [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="num">(64,648)<span></span>
</td>
<td class="num">(63,932)<span></span>
</td>
<td class="num">(52,646)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Operating expenses</a></td>
<td class="nump">47,664<span></span>
</td>
<td class="nump">47,860<span></span>
</td>
<td class="nump">39,542<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expenses</a></td>
<td class="nump">6,126<span></span>
</td>
<td class="nump">6,830<span></span>
</td>
<td class="nump">5,998<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="num">(10,858)<span></span>
</td>
<td class="num">(9,242)<span></span>
</td>
<td class="num">(7,106)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Adjusted gross profit (loss)</a></td>
<td class="num">(10,986)<span></span>
</td>
<td class="num">(10,618)<span></span>
</td>
<td class="num">(8,446)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Segment assets</a></td>
<td class="num">(22,667)<span></span>
</td>
<td class="num">(36,965)<span></span>
</td>
<td class="num">(24,529)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ifrs-full_SeparateMember', window );">Consolidated [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems', window );"><strong>Operating Segments (Details) - Schedule of Segment Adjusted Gross Profit [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">48,834<span></span>
</td>
<td class="nump">52,241<span></span>
</td>
<td class="nump">44,705<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Operating expenses</a></td>
<td class="num">(22,861)<span></span>
</td>
<td class="num">(23,671)<span></span>
</td>
<td class="num">(17,223)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation expenses</a></td>
<td class="num">(16,012)<span></span>
</td>
<td class="num">(15,580)<span></span>
</td>
<td class="num">(14,641)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="nump">9,961<span></span>
</td>
<td class="nump">12,990<span></span>
</td>
<td class="nump">12,841<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Adjusted gross profit (loss)</a></td>
<td class="nump">9,961<span></span>
</td>
<td class="nump">12,990<span></span>
</td>
<td class="nump">12,841<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SellingGeneralAndAdministrativeExpense', window );">Project development costs</a></td>
<td class="num">(4,465)<span></span>
</td>
<td class="num">(3,784)<span></span>
</td>
<td class="num">(2,508)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">General and administrative expenses</a></td>
<td class="num">(5,283)<span></span>
</td>
<td class="num">(5,855)<span></span>
</td>
<td class="num">(5,624)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of loss of equity accounted investee</a></td>
<td class="nump">4,320<span></span>
</td>
<td class="nump">1,206<span></span>
</td>
<td class="nump">117<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Operating profit</a></td>
<td class="nump">4,533<span></span>
</td>
<td class="nump">4,557<span></span>
</td>
<td class="nump">4,826<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Financing income</a></td>
<td class="nump">8,747<span></span>
</td>
<td class="nump">6,443<span></span>
</td>
<td class="nump">673<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Financing expenses in connection with derivatives and warrants, net</a></td>
<td class="nump">251<span></span>
</td>
<td class="nump">605<span></span>
</td>
<td class="num">(841)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherFinanceIncomeCost', window );">Financing expenses, net</a></td>
<td class="num">(12,555)<span></span>
</td>
<td class="num">(10,524)<span></span>
</td>
<td class="num">(27,593)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Profit (loss) before taxes on income</a></td>
<td class="nump">976<span></span>
</td>
<td class="nump">1,081<span></span>
</td>
<td class="num">(22,935)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Segment assets</a></td>
<td class="nump">&#8364; 612,852<span></span>
</td>
<td class="nump">&#8364; 576,157<span></span>
</td>
<td class="nump">&#8364; 551,979<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OperatingSegmentsDetailsScheduleofSegmentAdjustedGrossProfitLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td>debit</td>
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<td>instant</td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B13<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 104<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 82<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on financial assets at fair value through profit or loss. [Refer: Financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_20_a_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue less cost of sales. [Refer: Cost of sales; Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OperatingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of all operating expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OperatingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherFinanceIncomeCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of finance income or cost that the entity does not separately disclose in the same statement or note. [Refer: Finance income (cost)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherFinanceIncomeCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from operating activities of the entity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2023-01-01<br> -Paragraph IE33<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=32&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_IE33&amp;doctype=Illustrative%20Examples<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SellingGeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to selling, general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SellingGeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_IT</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_ES">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_ES</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ello_EllomaySolarSpainMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ello_EllomaySolarSpainMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ello_TalasolSpainMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ello_TalasolSpainMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ello_DiscontinuedOperationIsraelMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ello_DiscontinuedOperationIsraelMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_NL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_NL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ello_DoradIsraelMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ello_DoradIsraelMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ello_ManaraIsraelMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ello_ManaraIsraelMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ifrs-full_ReportableSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ifrs-full_ReportableSegmentsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ello_ReconciliationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ello_ReconciliationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ifrs-full_SeparateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ifrs-full_SeparateMember</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022927744">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Operating Segments (Details) - Schedule of Revenues from the Company&#8217;s Operations - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofRevenuesfromtheCompanysOperationsLineItems', window );"><strong>Operating Segments (Details) - Schedule of Revenues from the Company&#8217;s Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Total revenues</a></td>
<td class="nump">&#8364; 48,834<span></span>
</td>
<td class="nump">&#8364; 52,241<span></span>
</td>
<td class="nump">&#8364; 44,705<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ello_SpanishPVSegmentMember', window );">Spanish PV segment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofRevenuesfromtheCompanysOperationsLineItems', window );"><strong>Operating Segments (Details) - Schedule of Revenues from the Company&#8217;s Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Total revenues</a></td>
<td class="nump">2,791<span></span>
</td>
<td class="nump">3,264<span></span>
</td>
<td class="nump">2,587<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ello_EllomaySolarPVSegmentMember', window );">Ellomay Solar PV segment (Spain) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofRevenuesfromtheCompanysOperationsLineItems', window );"><strong>Operating Segments (Details) - Schedule of Revenues from the Company&#8217;s Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Total revenues</a></td>
<td class="nump">4,051<span></span>
</td>
<td class="nump">3,597<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ello_TalasolPVSegmentMember', window );">Talasol PV segment (Spain) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofRevenuesfromtheCompanysOperationsLineItems', window );"><strong>Operating Segments (Details) - Schedule of Revenues from the Company&#8217;s Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Total revenues</a></td>
<td class="nump">24,971<span></span>
</td>
<td class="nump">32,740<span></span>
</td>
<td class="nump">29,432<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=ello_NetherlandsBiogasSegmentMember', window );">Netherlands biogas segment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofRevenuesfromtheCompanysOperationsLineItems', window );"><strong>Operating Segments (Details) - Schedule of Revenues from the Company&#8217;s Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Total revenues</a></td>
<td class="nump">&#8364; 17,021<span></span>
</td>
<td class="nump">&#8364; 12,640<span></span>
</td>
<td class="nump">&#8364; 12,686<span></span>
</td>
</tr>
</table>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OperatingSegmentsDetailsScheduleofRevenuesfromtheCompanysOperationsLineItems</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from sources that the entity does not separately disclose in the same statement or note. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherRevenue</td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ello_SpanishPVSegmentMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ello_EllomaySolarPVSegmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ello_EllomaySolarPVSegmentMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ello_TalasolPVSegmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ello_TalasolPVSegmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ello_NetherlandsBiogasSegmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ello_NetherlandsBiogasSegmentMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
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<head>
<title></title>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583022869952">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Operating Segments (Details) - Schedule of Fixed Assets, Net - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofFixedAssetsNetLineItems', window );"><strong>Operating Segments (Details) - Schedule of Fixed Assets, Net [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsNet', window );">Total fixed assets, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">&#8364; 499,451<span></span>
</td>
<td class="nump">&#8364; 486,484<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofFixedAssetsNetLineItems', window );"><strong>Operating Segments (Details) - Schedule of Fixed Assets, Net [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsNet', window );">Total fixed assets, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">238,580<span></span>
</td>
<td class="nump">251,574<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_IL', window );">Israel [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofFixedAssetsNetLineItems', window );"><strong>Operating Segments (Details) - Schedule of Fixed Assets, Net [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsNet', window );">Total fixed assets, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">195,248<span></span>
</td>
<td class="nump">187,798<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_US', window );">USA [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofFixedAssetsNetLineItems', window );"><strong>Operating Segments (Details) - Schedule of Fixed Assets, Net [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsNet', window );">Total fixed assets, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">6,041<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_IT', window );">Italy [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofFixedAssetsNetLineItems', window );"><strong>Operating Segments (Details) - Schedule of Fixed Assets, Net [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsNet', window );">Total fixed assets, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">33,711<span></span>
</td>
<td class="nump">20,363<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_NL', window );">Netherlands [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_OperatingSegmentsDetailsScheduleofFixedAssetsNetLineItems', window );"><strong>Operating Segments (Details) - Schedule of Fixed Assets, Net [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_FixedAssetsNet', window );">Total fixed assets, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">&#8364; 25,871<span></span>
</td>
<td class="nump">&#8364; 26,749<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Other than financial instruments, deferred tax assets and
employee benefit assets.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_FixedAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>fixed assets, net.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_FixedAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_OperatingSegmentsDetailsScheduleofFixedAssetsNetLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_OperatingSegmentsDetailsScheduleofFixedAssetsNetLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_ES">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_ES</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_IL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_IL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_IT">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_IT</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_NL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_NL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>147
<FILENAME>R124.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583030039792">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Discontinued operation and Disposal Groups Held for Sale (Details)<br> &#8364; in Thousands, &#8362; in Thousands, $ in Thousands, kWh in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>kWh</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsLineItems', window );"><strong>Non-Current Assets and Disposal Groups Held for Sale [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Plant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 407,982<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 451,244<span></span>
</td>
<td class="nump">&#8362; 44,750<span></span>
</td>
<td class="nump">&#8364; 365,756<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CustomaryException', window );">Customary exception</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,200<span></span>
</td>
<td class="nump">&#8362; 9,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,142<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,960<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AgreementAxis=ello_TalmeiYosefSaleAgreementMember', window );">Talmei Yosef Sale Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsLineItems', window );"><strong>Non-Current Assets and Disposal Groups Held for Sale [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Plant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AdditionalPotentialPayment', window );">Additional potential payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 4,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherAssets', window );">Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28,297<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,142<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLoss', window );">Impairment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,565<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ifrs-full_DisposalOfMajorSubsidiaryMember', window );">Disposal of major subsidiary [member] | Talmei Yosef Sale Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsLineItems', window );"><strong>Non-Current Assets and Disposal Groups Held for Sale [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_RenewableEnergyProduced', window );">Energy produced (in Kilowatt-hours) | kWh</a></td>
<td class="nump">18<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AdditionalPotentialPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Additional potential payment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AdditionalPotentialPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CustomaryException">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Customary exception.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CustomaryException</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_RenewableEnergyProduced">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Renewable energy produced.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_RenewableEnergyProduced</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:energyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as a reduction of the carrying amount of an asset or cash-generating unit to its recoverable amount. [Refer: Carrying amount [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2023-01-01<br> -Paragraph 130<br> -Subparagraph d<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_130_d_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2023-01-01<br> -Paragraph 130<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_130_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities included in disposal groups classified as held for sale. [Refer: Liabilities; Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2023-01-01<br> -Paragraph 38<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_38&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph p<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_p&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period. Note that right-of-use assets are not included. [Contrast: Property, plant and equipment including right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AgreementAxis=ello_TalmeiYosefSaleAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AgreementAxis=ello_TalmeiYosefSaleAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ifrs-full_DisposalOfMajorSubsidiaryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ifrs-full_DisposalOfMajorSubsidiaryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583019092240">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Discontinued operation and Disposal Groups Held for Sale (Details) - Schedule of Assets of Disposal Groups Classified as Held for Sale - Disposal Groups Classified as Held for Sale [Member]<br> &#8364; in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleLineItems', window );"><strong>Discontinued operation and Disposal Groups Held for Sale (Details) - Schedule of Assets of Disposal Groups Classified as Held for Sale [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale', window );">Cash and cash equivalents</a></td>
<td class="nump">&#8364; 428<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents', window );">Short-term deposits</a></td>
<td class="nump">12<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Receivable from concession project</a></td>
<td class="nump">23,426<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Trade and other receivables</a></td>
<td class="nump">587<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use asset</a></td>
<td class="nump">1,204<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherIntangibleAssets', window );">Intangible asset</a></td>
<td class="nump">917<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents', window );">Restricted cash and deposits</a></td>
<td class="nump">1,694<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivables', window );">Long term receivables</a></td>
<td class="nump">29<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total</a></td>
<td class="nump">&#8364; 28,297<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofAssetsofDisposalGroupsClassifiedasHeldforSaleLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and cash equivalents that are classified as a part of a disposal group held for sale. [Refer: Cash and cash equivalents; Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current trade receivables and non-current other receivables. [Refer: Non-current trade receivables; Other non-current receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentRestrictedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets that the entity does not separately disclose in the same statement or note. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2023-01-01<br> -Paragraph 119<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_119&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount receivable by the entity that it does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term that do not meet the definition of investment property. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 53<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A classification of cash equivalents representing short-term deposits. [Refer: Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember</td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583030390432">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Discontinued operation and Disposal Groups Held for Sale (Details) - Schedule of Disposal Groups Classified as Held for Sale - Disposal Groups Classified as Held for Sale [Member]<br> &#8364; in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleLineItems', window );"><strong>Schedule of Disposal Groups Classified as Held for Sale [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesToTradeSuppliers', window );">Trade payables</a></td>
<td class="nump">&#8364; 39<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherPayables', window );">Other payables</a></td>
<td class="nump">18<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Lease liability</a></td>
<td class="nump">1,321<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived', window );">Long-term bank loans including current maturities</a></td>
<td class="nump">13,047<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate', window );">Deferred tax liabilities</a></td>
<td class="nump">2,717<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total</a></td>
<td class="nump">&#8364; 17,142<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleLineItems">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DiscontinuedoperationandDisposalGroupsHeldforSaleDetailsScheduleofDisposalGroupsClassifiedasHeldforSaleLineItems</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current secured bank loans received and the current portion of non-current secured bank loans received. [Refer: Secured bank loans received]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for deferred tax liabilities assumed in a business combination. [Refer: Deferred tax liabilities; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2023-01-01<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities related to the entity's leases. Lease is a contract, or part of a contract, that conveys the right to use an underlying asset for a period of time in exchange for consideration.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2023-01-01<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2023-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amounts payable that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherPayablesToTradeSuppliers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of payment due to suppliers for goods and services used in the entity's business.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherPayablesToTradeSuppliers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583031523600">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Discontinued operation and Disposal Groups Held for Sale (Details) - Schedule of Results Attributable to Discontinued Operation - Discontinued Operations [Member] - EUR (&#8364;)<br> &#8364; / shares in Units, &#8364; in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ResultsOfDiscontinuedOperationAbstract', window );"><strong>Results of discontinued operation</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenue</a></td>
<td class="nump">&#8364; 675<span></span>
</td>
<td class="nump">&#8364; 1,119<span></span>
</td>
<td class="nump">&#8364; 1,016<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Operating expenses</a></td>
<td class="nump">342<span></span>
</td>
<td class="nump">418<span></span>
</td>
<td class="nump">367<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization expenses</a></td>
<td class="nump">461<span></span>
</td>
<td class="nump">512<span></span>
</td>
<td class="nump">475<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit (loss) from operating activities</a></td>
<td class="num">(128)<span></span>
</td>
<td class="nump">189<span></span>
</td>
<td class="nump">174<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">General and administrative expenses</a></td>
<td class="nump">33<span></span>
</td>
<td class="nump">37<span></span>
</td>
<td class="nump">37<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Operating profit (loss) from operating activities</a></td>
<td class="num">(161)<span></span>
</td>
<td class="nump">152<span></span>
</td>
<td class="nump">137<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Financing income</a></td>
<td class="nump">1,792<span></span>
</td>
<td class="nump">3,121<span></span>
</td>
<td class="nump">2,258<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Financing expenses</a></td>
<td class="nump">1,269<span></span>
</td>
<td class="nump">2,111<span></span>
</td>
<td class="nump">1,381<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Financing income, net</a></td>
<td class="nump">523<span></span>
</td>
<td class="nump">1,010<span></span>
</td>
<td class="nump">877<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Results from operating activities before taxes on income</a></td>
<td class="nump">362<span></span>
</td>
<td class="nump">1,162<span></span>
</td>
<td class="nump">1,014<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Taxes on income</a></td>
<td class="num">(247)<span></span>
</td>
<td class="num">(451)<span></span>
</td>
<td class="num">(255)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars', window );">Results from operating activities, net of taxes on income</a></td>
<td class="nump">115<span></span>
</td>
<td class="nump">711<span></span>
</td>
<td class="nump">759<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Loss on adjustment to fair value</a></td>
<td class="num">(2,565)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesOfDiscontinuedOperations', window );">Tax benefit on loss from sale of discontinued operation</a></td>
<td class="nump">663<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity', window );">Profit (loss) for the year</a></td>
<td class="num">&#8364; (1,787)<span></span>
</td>
<td class="nump">&#8364; 711<span></span>
</td>
<td class="nump">&#8364; 759<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EarningsPerShareAbstract', window );"><strong>Earnings per share</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShare', window );">Basic earnings (loss) per share (in Euro per share)</a></td>
<td class="num">&#8364; (0.14)<span></span>
</td>
<td class="nump">&#8364; 0.06<span></span>
</td>
<td class="nump">&#8364; 0.06<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShare', window );">Diluted earnings (loss) per share (in Euro per share)</a></td>
<td class="num">&#8364; (0.14)<span></span>
</td>
<td class="nump">&#8364; 0.06<span></span>
</td>
<td class="nump">&#8364; 0.06<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_CashFlowsFromDiscontinuedOperationAbstract', window );"><strong>Cash flows from discontinued operation</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Net cash (used in) from operating activities</a></td>
<td class="nump">&#8364; 2,587<span></span>
</td>
<td class="nump">&#8364; 2,445<span></span>
</td>
<td class="nump">&#8364; 2,471<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivities', window );">Net cash (used in) from investing activities</a></td>
<td class="num">(462)<span></span>
</td>
<td class="num">(1,327)<span></span>
</td>
<td class="num">(604)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivities', window );">Net cash (used in) from financing activities</a></td>
<td class="num">(2,127)<span></span>
</td>
<td class="num">(2,126)<span></span>
</td>
<td class="num">(2,099)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations', window );">Net cash from (used in) discontinued operation</a></td>
<td class="num">&#8364; (2)<span></span>
</td>
<td class="num">&#8364; (1,008)<span></span>
</td>
<td class="num">&#8364; (232)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_CashFlowsFromDiscontinuedOperationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_CashFlowsFromDiscontinuedOperationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Results from operating activities, net of taxes on income.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_ResultsOfDiscontinuedOperationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_ResultsOfDiscontinuedOperationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) investing activities, which are the acquisition and disposal of long-term assets and other investments not included in cash equivalents.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) operating activities, which are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) the entity's operating activities, related to discontinued operations. [Refer: Discontinued operations [member]; Cash flows from (used in) operating activities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B13<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 104<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutedEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator), divided by the weighted average number of ordinary shares outstanding during the period (the denominator), both adjusted for the effects of all dilutive potential ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 82<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncomeCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income or cost associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncomeCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on financial assets at fair value through profit or loss. [Refer: Financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2023-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_20_a_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue less cost of sales. [Refer: Cost of sales; Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2023-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 79<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OperatingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of all operating expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OperatingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing operations attributable to ordinary equity holders of the parent entity. [Refer: Continuing operations [member]; Profit (loss) from continuing operations]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2023-01-01<br> -Paragraph 70<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_70_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from operating activities of the entity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2023-01-01<br> -Paragraph IE33<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=32&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_IE33&amp;doctype=Illustrative%20Examples<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2023-01-01<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2023-03-23<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesOfDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The tax expense (income) relating to the profit (loss) arising from ordinary activities of discontinued operations. [Refer: Discontinued operations [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2023-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_33_b_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2023-01-01<br> -Paragraph 81<br> -Subparagraph h<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_81_h_ii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesOfDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DiscontinuedOperationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=ifrs-full_DiscontinuedOperationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<span style="display: none;">v3.24.1.u1</span><table class="report" border="0" cellspacing="2" id="idm140583031128512">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events (Details)<br> &#8362; / shares in Units, &#8364; in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="2"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2030</div></th>
<th class="th"><div>Dec. 31, 2029</div></th>
<th class="th"><div>Dec. 31, 2028</div></th>
<th class="th">
<div>Apr. 17, 2024 </div>
<div>ILS (&#8362;) </div>
<div>&#8362; / shares</div>
</th>
<th class="th">
<div>Feb. 01, 2023 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Feb. 01, 2023 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jan. 16, 2024 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jan. 16, 2024 </div>
<div>ILS (&#8362;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_SubsequentEventsDetailsLineItems', window );"><strong>Subsequent Events (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AggregateAmount', window );">Aggregate amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 41,000<span></span>
</td>
<td class="nump">&#8362; 170,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Issue of equity | &#8364;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 8,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PrincipalPaymentPercentage', window );">Pricipal payment</a></td>
<td class="nump">15.00%<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Par value per share (in New Shekels per share) | &#8362; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 40,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_SeriesESecuredDebenturesMember', window );">Series E Secured Debentures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_SubsequentEventsDetailsLineItems', window );"><strong>Subsequent Events (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Issue of equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,000<span></span>
</td>
<td class="nump">&#8362; 1,020,000,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareIssueRelatedCost', window );">Share issue related cost (in Euro) | &#8364;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 40,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_DebenturesFixedInterestRate', window );">Debentures Fixed Interest Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.50%<span></span>
</td>
<td class="nump">5.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_ForecastMember', window );">Forecast [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_SubsequentEventsDetailsLineItems', window );"><strong>Subsequent Events (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AggregateGrossConsideration', window );">Aggregate gross consideration</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 37,800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_AggregateGrossConsiderationPricePerShare', window );">Aggregate gross consideration price per share (in New Shekels per share) | &#8362; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 0.946<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_PrincipalAmount', window );">Principal amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_ForecastMember', window );">Forecast [Member] | Series F Debentures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ello_SubsequentEventsDetailsLineItems', window );"><strong>Subsequent Events (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 210,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AggregateAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AggregateAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AggregateGrossConsideration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate gross consideration.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AggregateGrossConsideration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_AggregateGrossConsiderationPricePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate gross consideration price per share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_AggregateGrossConsiderationPricePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_DebenturesFixedInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of debentures Fixed Interest rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_DebenturesFixedInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PrincipalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Principal amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PrincipalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_PrincipalPaymentPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of principal payment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_PrincipalPaymentPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ello_SubsequentEventsDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ello_SubsequentEventsDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ello_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssueOfEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase in equity through the issue of equity instruments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssueOfEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotesAndDebenturesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of notes and debentures issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotesAndDebenturesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal value per share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_79_a_iii&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareIssueRelatedCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cost related to the issuance of shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2023-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2023-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2023-03-23<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareIssueRelatedCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_SeriesESecuredDebenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_SeriesESecuredDebenturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_ForecastMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ello_ForecastMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ello_SeriesFDebenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ello_SeriesFDebenturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
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<FILENAME>report.css
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/* Updated 2009-11-04 */
/* v2.2.0.24 */

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..report table.authRefData a {
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..report table.authRefData .hide {
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..report table.authRefData .hide a:hover {
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..report table.authRefData .body {
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..report table.authRefData table{
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/* Report Styles */
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}

/* table */
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..report hr {
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..report th.void	{
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<TYPE>XML
<SEQUENCE>156
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
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    <ifrs-full:RepaymentsOfBondsNotesAndDebentures contextRef="c4" decimals="-3" id="ixv-65029" unitRef="eur">19764000</ifrs-full:RepaymentsOfBondsNotesAndDebentures>
    <ifrs-full:RepaymentsOfBondsNotesAndDebentures contextRef="c5" decimals="-3" id="ixv-65030" unitRef="eur">30730000</ifrs-full:RepaymentsOfBondsNotesAndDebentures>
    <ifrs-full:RepaymentsOfBondsNotesAndDebentures contextRef="c0" decimals="-3" id="ixv-65031" unitRef="usd">19647000</ifrs-full:RepaymentsOfBondsNotesAndDebentures>
    <ello:RepaymentOfSwapInstrumentAssociatedWithLongTermLoans contextRef="c4" decimals="-3" id="ixv-65032" unitRef="eur">-3290000</ello:RepaymentOfSwapInstrumentAssociatedWithLongTermLoans>
    <ello:ProceedFromSettlementOfDerivativesNet contextRef="c4" decimals="-3" id="ixv-65033" unitRef="eur">3800000</ello:ProceedFromSettlementOfDerivativesNet>
    <ello:ProceedsFromIssuanceOfConvertibleDebentures contextRef="c5" decimals="-3" id="ixv-65034" unitRef="eur">-15571000</ello:ProceedsFromIssuanceOfConvertibleDebentures>
    <ello:ProceedsFromIssuanceOfDebenturesNet contextRef="c0" decimals="-3" id="ixv-65035" unitRef="eur">55808000</ello:ProceedsFromIssuanceOfDebenturesNet>
    <ello:ProceedsFromIssuanceOfDebenturesNet contextRef="c5" decimals="-3" id="ixv-65036" unitRef="eur">57717000</ello:ProceedsFromIssuanceOfDebenturesNet>
    <ello:ProceedsFromIssuanceOfDebenturesNet contextRef="c0" decimals="-3" id="ixv-65037" unitRef="usd">61726000</ello:ProceedsFromIssuanceOfDebenturesNet>
    <ello:IssueOfWarrants contextRef="c5" decimals="-3" id="ixv-65038" unitRef="eur">-3746000</ello:IssueOfWarrants>
    <ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="c0" decimals="-3" id="ixv-65039" unitRef="eur">54433000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
    <ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="c4" decimals="-3" id="ixv-65040" unitRef="eur">26510000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
    <ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="c5" decimals="-3" id="ixv-65041" unitRef="eur">54196000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
    <ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="c0" decimals="-3" id="ixv-65042" unitRef="usd">60204000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
    <ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="c0" decimals="-3" id="ixv-65043" unitRef="eur">-2387000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
    <ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="c4" decimals="-3" id="ixv-65044" unitRef="eur">-4420000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
    <ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="c5" decimals="-3" id="ixv-65045" unitRef="eur">9573000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
    <ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="c0" decimals="-3" id="ixv-65046" unitRef="usd">-2640000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
    <ifrs-full:IncreaseDecreaseInCashAndCashEquivalents contextRef="c0" decimals="-3" id="ixv-65047" unitRef="eur">5097000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalents>
    <ifrs-full:IncreaseDecreaseInCashAndCashEquivalents contextRef="c4" decimals="-3" id="ixv-65048" unitRef="eur">5229000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalents>
    <ifrs-full:IncreaseDecreaseInCashAndCashEquivalents contextRef="c5" decimals="-3" id="ixv-65049" unitRef="eur">-25616000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalents>
    <ifrs-full:IncreaseDecreaseInCashAndCashEquivalents contextRef="c0" decimals="-3" id="ixv-65050" unitRef="usd">5637000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalents>
    <ifrs-full:CashAndCashEquivalents contextRef="c3" decimals="-3" id="ixv-65051" unitRef="eur">46458000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:CashAndCashEquivalents contextRef="c40" decimals="-3" id="ixv-65052" unitRef="eur">41229000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:CashAndCashEquivalents contextRef="c58" decimals="-3" id="ixv-65053" unitRef="eur">66845000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:CashAndCashEquivalents contextRef="c3" decimals="-3" id="ixv-65054" unitRef="usd">51384000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations contextRef="c0" decimals="-3" id="ixv-65055" unitRef="eur">428000</ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations>
    <ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations contextRef="c0" decimals="-3" id="ixv-65056" unitRef="usd">473000</ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations>
    <ifrs-full:CashAndCashEquivalents contextRef="c2" decimals="-3" id="ixv-65057" unitRef="eur">51127000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:CashAndCashEquivalents contextRef="c3" decimals="-3" id="ixv-65058" unitRef="eur">46458000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:CashAndCashEquivalents contextRef="c40" decimals="-3" id="ixv-65059" unitRef="eur">41229000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:CashAndCashEquivalents contextRef="c2" decimals="-3" id="ixv-65060" unitRef="usd">56548000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory contextRef="c0" id="ixv-24211">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 1 - General&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;A.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;Ellomay Capital Ltd. (the &#x201c;Company&#x201d;)
                                            is an Israeli Company operating in the business of initiation, development, construction
                                            and production of renewable and clean energy projects in Europe, USA and Israel.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;As of December 31,
2023, the Company owns seven photovoltaic plants (each, a &#x201c;PV Plant&#x201d; and, together, the &#x201c;PV Plants&#x201d;) connected
to their respective national grids and operating as follows:&lt;/p&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;(i)&lt;/td&gt;&lt;td style="text-align: justify"&gt;five photovoltaic plants in Spain with
                                            an aggregate installed capacity of approximately 35.9 Mega Watt (&#x201c;MW&#x201d;),&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-121"&gt;(ii)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;51% of Talasol Solar S.L.U (&#x201c;Talasol&#x201d;), which owns a photovoltaic plant with installed capacity of 300MW in the municipality of Talav&#xe1;n, C&#xe1;ceres, Spain (the &#x201c;Talasol PV Plant&#x201d;), and&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;(iii)&lt;/td&gt;&lt;td style="text-align: justify"&gt;one photovoltaic plant in Israel with
                                            an aggregate installed capacity of approximately 9 MW. See Note 23 for Non-Current Assets
                                            and Disposal Groups Held for Sale.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;In addition, the
Company indirectly owns:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-123"&gt;(i)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;9.375% of Dorad Energy Ltd. (&#x201c;Dorad&#x201d;),&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;(ii)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Ellomay Solar Italy One SRL and Ellomay
                                            Solar Italy Two SRL, which own photovoltaic plants with installed capacity of 14.8 MW and
                                            4.95 MW, respectively, in the Lazio Region, Italy that are ready for connection to the grid,&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;(iii)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Ellomay Solar Italy Four SRL, Ellomay
                                            Solar Italy Five SRL, Ellomay Solar Italy Seven SRL, Ellomay Solar Italy Nine SRL and Ellomay
                                            Solar Italy Ten SRL that are developing photovoltaic projects with installed capacity of
                                            15.06 MW, 87.2 MW, 54.77 MW, 8 MW and 18 MW, respectively, in Italy that have reached &#x201c;ready
                                            to build&#x201d; status,&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-118"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-119"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-120"&gt;(iv)&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in&#160;the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million Nm3 per year, respectively, &lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-122"&gt;(v)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;83.333% of Ellomay Pumped Storage (2014) Ltd., which is constructing a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel (the &#x201c;Manara PSP&#x201d;), and&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;(vi)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Fairfield Solar Project, LLC, Malakoff Solar I, LLC, Malakoff Solar II, LLC, Mexia Solar I, LLC, Mexia Solar
II, LLC, and Talco Solar, LLC, that are developing photovoltaic projects with installed capacity of 13.44 MW, 6.96 MW, 6.96 MW, 5.&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;6
&lt;span style="background-color: white"&gt;MW, 5.&lt;/span&gt;6 &lt;span style="background-color: white"&gt;MW and &lt;/span&gt;10.3 &lt;span style="background-color: white"&gt;MW
respectively, in the Dallas Metropolitan area, Texas, that have reached &#x201c;ready to build&#x201d; status.&lt;/span&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;The Company also
develops PV projects in Italy, Spain, USA and Israel.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;The ordinary shares
of the Company are listed on the NYSE American and on the Tel Aviv Stock Exchange (under the symbol &#x201c;ELLO&#x201d;). The address
of the Company&#x2019;s registered office is 18 Rothschild Blvd., Tel Aviv, Israel.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;B.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Definitions:&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In these financial statements:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Consolidated companies/subsidiaries
&lt;/span&gt;&#x2013; Companies, including partnerships, the financial statements of which are fully consolidated, directly or indirectly, with
the financial statements of the Company.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Investee companies&lt;/span&gt; &#x2013;
Subsidiaries and companies, including partnerships, the Company&#x2019;s investment in which is accounted for, directly or indirectly,
using the equity method.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Related party&lt;/span&gt; &#x2013; Within
its meaning in IAS 24 (2009), &#x201c;Related Party Disclosures&#x201d;.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Interested parties&lt;/span&gt; &#x2013;
Within their meaning in Paragraph (1) of the definition of an &#x201c;interested party&#x201d; in Section 1 of the Securities Law - 1968.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Unless otherwise noted, all references
to &#x201c;&#x20ac;,&#x201d; &#x201c;euro&#x201d; or &#x201c;EUR&#x201d; are to the legal currency of the European Union, all references to &#x201c;USD,&#x201d;
&#x201c;US dollar,&#x201d; &#x201c;dollars&#x201d; and &#x201c;$&#x201d; are to United States dollars, and all references to &#x201c;NIS&#x201d;
are to New Israeli Shekels.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 62.5pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Other than as specifically noted,
all amounts translated into euro were translated based on the exchange rate as of December 31, 2023.&lt;/p&gt;</ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory>
    <ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory contextRef="c0" id="ixv-24343">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 2 - &lt;span style="font-family: Times New Roman, Times, Serif"&gt;Basis
of Preparation&lt;/span&gt;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;A.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Statement of compliance&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The consolidated financial
statements of the Company have been prepared in accordance with International Financial Reporting Standards (&#x201c;IFRS&#x201d;) as issued
by the International Accounting Standards Board.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The consolidated financial statements
were authorized by the Company&#x2019;s Board of Directors for issue on April 18, 2024.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;B.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Functional and presentation currency&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;These consolidated
financial statements are presented in euro, which is the Company&#x2019;s functional currency, and have been rounded to the nearest thousand,
except when otherwise indicated. The euro is the currency that represents the principal economic environment in which the Company operates.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;C.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Basis of measurement&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The consolidated financial statements
have been prepared on the historical cost basis, except for the following assets and liabilities:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;(i)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Investment in investee accounted for using
                                            the equity method;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;(ii)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Financial instruments, derivatives and
                                            other assets and liabilities measured at fair value through profit or loss; and&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;(iii)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Deferred tax assets and liabilities.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;D.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Operating cycle&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The operating cycle of the Company is
one year.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;E.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Use of estimates and judgments&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"&gt;&lt;i&gt;Use of estimates&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The preparation of financial statements
in conformity with IFRS requires management to make judgments, estimates and assumptions, that affect the application of accounting policies
and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The determination of accounting estimates
used in the preparation of the Company&#x2019;s financial statements requires that management of the Company makes assumptions regarding
circumstances and events that involve considerable uncertainty. The Company&#x2019;s management prepares the estimates on the basis of
past experience, various facts, external circumstances and reasonable assumptions according to the pertinent circumstances of each estimate.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period
in which the estimates are revised and in any future periods affected.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The key assumptions made in the financial
statements with respect to the future and other reasons for uncertainty with respect to estimates that have a significant risk of resulting
in a material adjustment to carrying amounts of assets and liabilities within the next financial year are discussed below:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;i&gt;Recoverable amount of cash generating
unit:&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company examines at the end of each
reporting year whether there have been any events or changes in circumstances that indicate impairment of cash-generating units. When
an indication of impairment is revealed, the Company checks whether the carrying amount of the cash-generating units is recoverable.
An impairment loss is recognized if the carrying amount of the cash-generating unit exceeds its estimated recoverable amount. A principal
assumption of this estimate is the allocation of fair value (less costs of disposal) to the cash-generating units of the Company and
a possible effect of this estimate is change of the impairment loss. For more information see Note 6D.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;i&gt;Fair value measurement of non-trading
derivatives:&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Within the scope of the valuation of
financial assets and derivatives not traded on an active market, management makes assumptions about inputs used in the valuation models.
Principal assumptions of this estimate are unobservable inputs used in the valuation model (especially standard deviation and discount
rates) and a possible effect of this estimate is profit or loss from a change in the fair value of those financial assets and derivatives.
For information on a sensitivity analysis of levels 2 and 3 financial instruments carried at fair value see Note 21 regarding financial
instruments.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;i&gt;Recognition of deferred tax asset
in respect of tax losses:&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;A principal assumption of this estimate
is the probability that in the future there will be taxable profits against which carried forward losses can be utilized. A possible
effect of this estimate is recognition or reversal of deferred tax asset in profit or loss. See Note 19 regarding taxes on income.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;i&gt;Determination of fair value:&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify"&gt;Preparation of the financial statements
requires the Company to determine the fair value of certain assets and liabilities. Further information about the assumptions that were
used to determine fair value is included in Note 15, on share-based payments and Note 21, on financial instruments.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;F.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Initial application of new standards,
                                            amendments to standards and interpretations&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;1.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Amendment to IAS 1, &lt;i&gt;Presentation
                                            of Financial Statements: &#x201c;Disclosure of Accounting Policies.&#x201d; &lt;/i&gt;(&#x201c;the
                                            IAS 1 Amendment&#x201d;)&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Effective January 1, 2023, the Company
adopted IAS 1 Amendment and IFRS Practice Statement 2 &#x2013;&#160;Disclosure of Accounting Policies (&#x201c;IFRS Practice Statement
2&#x201d;). The IAS 1 Amendment and IFRS Practice Statement 2 require the Company to disclose its material accounting policies instead
of its significant accounting policies. As a result of the adoption of these amendments, the accounting disclosure provided in the financial
statements for 2023 was reduced and adjusted according to the Company&#x2019;s specific circumstances.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;2.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Amendment to IAS 12, &lt;i&gt;Income
                                            Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction&lt;/i&gt;
                                            (&#x201c;the IAS 12 Amendment&#x201d;)&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The IAS 12 Amendment narrows the scope
of the exemption from recognizing deferred taxes as a result of temporary differences created at the initial recognition of assets and/or
liabilities, so that it does not apply to transactions that give rise to equal and offsetting temporary differences.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;As a result, companies will need to recognize
a deferred tax asset or a deferred tax liability for these temporary differences at the initial recognition of transactions that give
rise to equal and offsetting temporary differences, such as lease transactions and provisions for decommissioning and restoration.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The IAS 12 Amendment is effective for
annual periods beginning on or after January 1, 2023. For deferred taxes arising from leases and decommissioning and restoration liabilities,
the Amendment is applied by amending the opening balance of retained earnings for the earliest comparative data presented.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Application of the Amendment did not
have a material effect on the financial statements.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;G.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Retrospective
                                            &lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;classification&lt;/span&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Comparative amounts of other comprehensive
income were retrospectively classified in order to present the change in fair value of cash flow hedges transferred to profit
or loss, which resulted in approximately &#x20ac; 37.3 million and &#x20ac;21.8 million being reclassified
for 2022 and 2021, respectively, from Effective portion of change in fair value of cash flow hedges to Net change in fair value of cash
flow hedges transferred to profit or loss. This classification did not have any effect on the profit (loss) and on the Total other comprehensive
income (loss) for the year.&lt;/p&gt;</ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory>
    <ifrs-full:OtherComprehensiveIncome contextRef="c73" decimals="-5" id="ixv-65061" unitRef="eur">37300000</ifrs-full:OtherComprehensiveIncome>
    <ifrs-full:OtherComprehensiveIncome contextRef="c74" decimals="-5" id="ixv-65062" unitRef="eur">21800000</ifrs-full:OtherComprehensiveIncome>
    <ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory contextRef="c0" id="ixv-24579">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 3 - Material Accounting
Policies&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The accounting policies set out below
have been applied consistently for all periods presented in these consolidated financial statements.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;A.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Basis of consolidation and equity method accounting &lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(1)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Subsidiaries&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Subsidiaries are entities controlled
by the Company. Control exists when the Company is exposed, or has rights, to variable returns from its involvement with the acquiree
and it has the ability to affect those returns through its power over the acquiree. Substantive rights held by the Company and others
are taken into account when assessing control. The financial statements of subsidiaries are included in the consolidated financial statements
from the date that control commences until the date that control is lost.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(2)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Non-controlling interests&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Non-controlling interests comprise the
equity of a subsidiary that cannot be attributed, directly or indirectly, to the parent company and they include additional components
such as Issuance of capital note only to the non-controlling interest and share options of subsidiaries.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Allocation of profit or loss and other
comprehensive income to the shareholders&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Profit or loss and any part of other
comprehensive income are allocated to the owners of the Company and the non-controlling interests. Total comprehensive income is allocated
to the owners of the Company and the non-controlling interests even if the result is a negative balance of non-controlling interests.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Transactions with non-controlling
interests, while retaining control&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Transactions with non-controlling interests
while retaining control are accounted for as equity transactions. Any difference between the consideration paid or received and the change
in non-controlling interests is included in the owners&#x2019; share in equity of the Company directly in Transaction reserve with non-controlling
interests.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(3)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Investment in associates and joint ventures (equity accounted
investees)&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Associates are those entities in which
the Company has significant influence, but not control or joint control, over the financial and operating policies. There is a rebuttable
presumption that significant influence exists when the Company holds between 20% and 50% of another entity. Joint ventures are joint
arrangements in which the Company has rights to the net assets of the arrangement.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Associates and joint ventures are accounted
for using the equity method (equity accounted investees) and are recognized initially at cost. The cost of the investment includes transaction
costs that are directly attributable to an expected acquisition of an associate or joint venture. The consolidated financial statements
include the Company&#x2019;s share of the income and expenses in profit or loss and of other comprehensive income of equity accounted
investees, after adjustments to align the accounting policies with those of the Company, from the date that significant influence commences
until the date that significant influence ceases.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Long-term interests in associates and
joint ventures that, in substance, form part of the net investment in the associate or joint venture, such as preferred shares and long-term
loans that their repayment is not expected and is unlikely to occur in the foreseeable future, are first accounted for in accordance
with the guidance of IFRS 9 and then the equity method is applied in accordance with the guidance of IAS 28.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;B.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Foreign currency&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(1)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Foreign currency transactions&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Transactions in foreign currencies are
translated to the respective functional currencies of the Company at exchange rates at the dates of the transactions. Monetary assets
and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency at the exchange rate
at that date. The foreign currency gain or loss on monetary items is the difference between amortized cost in the functional currency
at the beginning of the year, adjusted for effective interest and payments during the year, and the amortized cost in foreign currency
translated at the exchange rate at the end of the year.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Non-monetary assets and liabilities denominated
in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date that
the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated
using the exchange rate at the date of the transaction.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Foreign currency differences arising
on translation are generally recognized in profit or loss, except for qualifying cash flow hedges to the extent the hedge is effective,
which are recognized in other comprehensive income.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(2)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Foreign operations&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The assets and liabilities of foreign
operations, including adjustments arising on consolidation, are translated at exchange rates at the reporting date. The income and expenses
for each period presented in the statement of profit or loss and other comprehensive income (loss) are translated at average exchange
rates for the presented periods; however, if exchange rates fluctuate significantly, income and expenses are translated at the exchange
rates at the date of the transactions.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Foreign currency exchange differences
are recognized in equity as a separate component of other comprehensive income (loss): &#x201c;foreign currency translation adjustments&#x201d;.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;When the foreign operation is a non-wholly-owned
subsidiary of the Company, then the relevant proportionate share of the foreign operation translation difference is allocated to the
non-controlling interests.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Foreign exchange gains and losses arising
from a monetary item receivable from, or payable to, a foreign operation, the settlement of which is neither planned nor likely in the
foreseeable future, are considered to form part of a net investment in a foreign operation and are recognized in other comprehensive
income (loss) and are presented within equity as part of the translation reserve.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(3)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Presentation Currency&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;For the convenience of the reader, the
reported euro figures as of December 31, 2023 and for the year then ended, are also presented in dollars, translated at the representative
rate of exchange as of December 31, 2023 (euro 1.106 = US$ 1.00). The dollar amounts presented in these financial statements should not
be construed as representing amounts that are receivable or payable in dollars or convertible into dollars, unless otherwise indicated.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: 7.65pt"&gt;&lt;b&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;C.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Financial instruments&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(1)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Trade accounts receivables, services concession receivables
and other receivables&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company initially recognizes receivables
on the date that they are created. Receivables without a significant financing component are initially measured at the transaction price
and subsequently measured at amortized cost, using the effective interest method. The amortized cost is reduced by impairment losses.
Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(2)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Non-derivative financial liabilities&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company&#x2019;s financial liabilities
include loans and borrowings, trade payables, other payables, finance lease obligations, debentures, long-term loans and other long-term
liabilities.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company initially recognizes debt
securities issued on the date that they originated. All other financial liabilities are recognized initially on the trade date at which
the Company becomes a party to the contractual provisions of the instrument.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Financial liabilities are recognized
initially at fair value less any directly attributable transaction costs. Subsequent to initial recognition, these financial liabilities
are measured at amortized cost using the effective interest method.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Financial liabilities are derecognized
when the obligation of the Company, as specified in the agreement, expires or when it is discharged or cancelled.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(3)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Derivative financial instruments, including hedge accounting&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company holds both derivative financial
instruments to hedge its interest rate risk exposures and fluctuating electricity prices risk exposures and derivatives that do not serve
hedging purposes.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"&gt;&lt;b&gt;&lt;i&gt;Hedge
accounting &lt;/i&gt;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company designates certain derivatives
as hedging instruments in order to hedge changes in cash flows that relate to highly probable forecasted transactions and which derive
from changes in fluctuation in the electricity prices and changes in interest on variable-rate loans. The Company continues to apply
IAS 39 for the hedge accounting.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company makes an assessment, both
at the inception of the hedge relationship as well as on an ongoing basis, as to whether the hedging instruments are expected to be &#x201c;highly
effective&#x201d; in offsetting the changes in the fair value or cash flows of the respective hedged items during the period for which
the hedge is designated, and whether the actual results of each hedge are within a range of 80-125 percent.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"&gt;&lt;b&gt;&lt;i&gt;Measurement
of derivative financial instruments&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Derivatives are recognized initially
at fair value and attributable transaction costs are recognized in profit or loss as incurred. Subsequent to initial recognition, derivatives
are measured at fair value, and changes therein are accounted for as described below.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify; text-indent: 56.7pt"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"&gt;&lt;b&gt;&lt;i&gt;Cash flow
hedges&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;When a derivative instrument is designated
as a cash flow hedge, the effective portion of the changes in fair value of the derivative is recognized in other comprehensive income,
directly within a hedging reserve. The effective portion of changes in fair value of a derivative, recognized in other comprehensive
income, is limited to the cumulative change in fair value of the hedged item (based on present value), from inception of the hedge. The
change in fair value in respect of the ineffective portion is recognized immediately in profit or loss.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;If the hedge no longer qualifies as an
accounting hedge, or the hedging instrument is sold, expires, is terminated or exercised, hedge accounting is discontinued on a prospective
basis. When hedge accounting is discontinued, the amounts accumulated in the past in the hedging reserve and cost of hedging reserve
remain in the reserve, until such time as they are included in the initial cost of the non-financial item (for hedged transactions whose
result is a non-financial item), or until such time as they are reclassified to profit or loss in the period, or periods, in which the
hedged forecasted future cash flows affect profit or loss (for other cash flows hedges).&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"&gt;&lt;b&gt;&lt;i&gt;Economic
hedges&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Hedge accounting is not applied to derivative
instruments that economically hedge financial assets and liabilities denominated in foreign currencies. Changes in the fair value of
such derivatives are recognized in profit or loss under financing income or expenses.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(4)&lt;/b&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"&gt;&lt;b&gt;Interest Rate Benchmark Reform&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;When the basis for determining the contractual
cash flows of a financial asset or financial liability measured at amortized cost changes as a result of interest rate benchmark reform,
the Company updates the effective interest rate of the financial asset or financial liability to reflect the change required by the reform.
When changes are made to a financial asset or financial liability in addition to changes to the basis for determining the contractual
cash flows required by interest rate benchmark reform, in addition to adjusting the effective interest rate as a result of the reform
the Company applies on accounting for substantial modifications in terms of debt instruments.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(5)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;CPI-linked assets and liabilities that are not measured
at fair value&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The value of CPI-linked financial assets
and liabilities, which are not measured at fair value, is re-measured every period in accordance with the actual increase/decrease in
the CPI.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;D.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Fixed assets&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;(1)&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;i&gt;Recognition and measurement&lt;/i&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Fixed assets items are measured at cost
less accumulated depreciation. Cost includes expenditures that are directly attributable to the acquisition of the fixed asset. The cost
of self-constructed assets includes the cost of materials and direct labor, any other costs directly attributable to bringing the assets
to a working condition for their intended use, an estimate of the costs of dismantling and removing the items and restoring the site
on which they are located, and capitalized borrowing costs (mainly specific). Project licenses are included in the cost of photovoltaic
plants.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The costs of replacing part of a fixed
asset item and other subsequent expenses are capitalized if it is probable that the future economic benefits associated with them will
flow to the Company and their cost can be measured reliably. The carrying amount of the replaced part of a fixed asset item is derecognized.
The costs of day-to-day servicing are recognized in profit or loss as incurred.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Gains and losses on disposal of a fixed
asset item are determined by comparing the net proceeds from disposal with the carrying amount of the asset, and are recognized in profit
or loss.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;(2)&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;i&gt;Depreciation&lt;/i&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Depreciation is a systematic allocation
of the depreciable amount of an asset over its useful life. The depreciable amount is the cost of the asset, or other amount substituted
for cost, less its residual value. An asset is depreciated from the date it is ready for use, meaning the date it reaches the location
and condition required for it to operate in the manner intended by management. Depreciation is recognized in profit or loss on a straight-line
basis over the estimated useful lives of each part of the fixed asset item.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The estimated useful lives are as follows:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;% per annum&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Mainly % &lt;br/&gt;
per annum&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 50%; text-align: left"&gt;Office furniture and equipment&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 24%; text-align: center"&gt;6-33&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 24%; text-align: center"&gt;33&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Photovoltaic plants in Spain&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;5&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;5&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Biogas plants in the Netherlands&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;8&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;8&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Leasehold improvements&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;Over the shorter of the lease period or the life of the asset&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;7&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The estimated useful life of the project
licenses of photovoltaic plants that are carried at cost is 20-25 years for the Company&#x2019;s Spanish subsidiaries. The estimated useful
life of the project licenses of the Company&#x2019;s Netherlands anaerobic digestion plants that are carried at cost is 13 years. The
fixed assets residual values, useful lives and methods of depreciation are reviewed at each financial year-end and adjusted if appropriate.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;E.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Impairment for non-financial assets&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The carrying amounts of the Company&#x2019;s
non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication
exists, then the asset&#x2019;s recoverable amount is estimated.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;For the purpose of impairment testing,
assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing
use that are largely independent of the cash inflows of other assets or groups of assets (the &#x201c;cash-generating unit&#x201d;). The
Company views each PV plant as a separate cash-generating unit.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The recoverable amount of an asset or
cash-generating unit is the greater of its fair value less costs of disposal and its value in use.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;F.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Leases&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 36pt"&gt;&lt;/td&gt;&lt;td style="width: 34.9pt"&gt;&lt;i&gt;(1)&lt;/i&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;i&gt;Leased assets and lease liabilities&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Contracts that award the Company control
over the use of a leased asset for a period of time in exchange for consideration are accounted for as leases. Upon initial recognition,
the Company recognizes a liability at the present value of the balance of future lease payments (these payments do not include certain
variable lease payments), and concurrently recognizes a right-of-use asset at the same amount of the lease liability, adjusted for any
prepaid or accrued lease payments, plus initial direct costs incurred in respect of the lease.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Since the interest rate implicit in the
Company&#x2019;s leases is not readily determinable, the incremental borrowing rate of the lessee is used. Subsequent to initial recognition,
the right-of-use asset is accounted for using the cost model and depreciated over the shorter of the lease term or useful life of the
asset.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company has elected to apply the
practical expedient by which short-term leases of up to one year and/or leases in which the underlying asset has a low value, are accounted
for such that lease payments are recognized in profit or loss on a straight-line basis, over the lease term, without recognizing an asset
and/or liability in the statement of financial position.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 36pt"&gt;&lt;/td&gt;&lt;td style="width: 34.9pt"&gt;&lt;i&gt;(2)&lt;/i&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;i&gt;Variable lease payments&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Variable lease payments that depend on
an index or a rate, are initially measured using the index or rate existing at the commencement of the lease and are included in the
measurement of the lease liability. When the cash flows of future lease payments change as the result of a change in an index or a rate,
the balance of the liability is adjusted against the right-of-use asset. Other variable lease payments that are not included in the measurement
of the lease liability are recognized in profit or loss in the period in which the event or condition that triggers payment occurs.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 36pt"&gt;&lt;/td&gt;&lt;td style="width: 34.9pt"&gt;&lt;i&gt;(3)&lt;/i&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;i&gt;Depreciation of right-of-use
                                            asset&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;After lease commencement, a right-of-use
asset is measured on a cost basis less accumulated depreciation and accumulated impairment losses and is adjusted for re-measurements
of the lease liability. Depreciation is calculated on a straight-line basis over the useful life or contractual lease period, whichever
earlier. The main right of use assets are lands which are depreciated over 20-40 years.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;G.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Revenue recognition&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Revenues are derived primarily from the
sale of electricity and natural gas to customers. Revenues are recognized when the customer obtains control over the promised products,
i.e. when the natural gas or electricity is delivered to the customer. The revenue is measured according to the amount of consideration
to which the Company expects to be entitled in exchange for the products promised to the customer, other than amounts collected for third
parties.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Revenues from the sale of electricity
and natural gas are recognized when the units produced are transferred to the grid at connection points on the basis of a meter reading.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Revenues in respect of units produced
and transferred to the grid in the period between the most recent meter reading and the date of the statement of financial position,
are included based on an estimate.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In some of the Company&#x2019;s PV plants
in Spain, the proceeds from the sale of electricity also depend on the subsidies granted by the local government in accordance with changes
in the market prices of electricity. The Company measures revenues while taking into account the increase or decrease of the subsidies
it will receive as a result of changes in market prices throughout the current year.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;H.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Income tax&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Income tax consists of current tax and
deferred tax. Current tax and deferred tax are recognized in profit or loss except to the extent that the tax arises from items which
are recognized directly in equity. In such cases, the tax effect is also recognized in the relevant item in equity.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Deferred tax is recognized in respect
of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used
for taxation purposes, except for a limited number of exceptions, including differences relating to investments in subsidiaries, joint
arrangements and associates, to the extent that the Company is able to control the timing of the reversal of the temporary difference
and it is probable that they will not reverse in the foreseeable future, either by way of selling the investment or by way of distributing
dividends in respect of the investment.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;A deferred tax asset is recognized for
unused tax losses, tax benefits and deductible temporary differences, to the extent that it is probable that future taxable profits will
be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent
that it is no longer probable that the related tax benefit will be realized.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Deferred tax assets that were not recognized
are reevaluated at each reporting date and recognized if it has become probable that future taxable profits will be available against
which they can be utilized.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;I.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Financing income and expenses&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Financing income comprises interest income
on bank deposits and marketable securities, gains on changes in the fair value of financial assets at fair value through profit or loss,
gains on hedging instruments that are recognized in profit or loss and exchange rate differences. Interest income is recognized as it
accrues. Changes in the fair value of financial assets at fair value through profit or loss also include income from dividends and interest.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Financing expenses consist of bank charges,
interest expenses on borrowings and debentures, changes in the fair value of financial assets at fair value through profit or loss, losses
on hedging instruments that are recognized in profit or loss, and exchange rate differences.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Borrowing costs, which are not capitalized
to qualifying assets, are recognized in profit or loss using the effective interest method. Foreign currency gains and losses on financial
assets and financial liabilities are reported on a net basis as either financing income or financing expenses depending on whether foreign
currency movements are in a net gain or net loss position.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In the statements of cash flows, interest
received and interest paid are presented as part of cash flows from operating activities. Financing costs that were capitalized to qualifying
assets are presented as part of cash flows from investment activities&lt;b&gt;.&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;J.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Service concession arrangements&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify"&gt;As part of service concession arrangements
with government bodies for the construction and operation of a facility in consideration for fixed and variable payments, the Company
recognizes a financial asset commencing from the start of the construction of the facility when it has an unconditional right to receive
cash or some other financial asset for the construction services. The financial asset reflects the unconditional payments receivable in
the future from the government body and bears an appropriate rate of interest for risk that is determined based on the risk of the customer.
The aforementioned financial assets are stated at fair value upon initial recognition and at amortized cost in subsequent periods. As
from January 1, 2018, the Company&#x2019;s right to receive consideration for the construction services, constitutes a contract asset until
the end of the construction period.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In projects accounted for using the financial
asset model, when at the end of the construction period there is an unconditional right (other than that of the passing of time) to receive
consideration for the construction services, the contract asset is classified to receivables (financial asset) according to the carrying
amount of the contract asset.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;K.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Discontinued operations&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company classifies an operation as
a discontinued operation when it meets the criteria to be classified as held for sale. The discontinued operation is a component of the
Company&#x2019;s business that represents a separate major line of business. The comparative income statement is restated as if the operation
had been discontinued from the start of the earliest comparative period.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;L.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;New standards, amendments to standards and interpretations
not yet adopted&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;b&gt;Amendment to IAS 1, &lt;i&gt;Presentation
of Financial Statements: Classification of Liabilities as Current or Non-Current (&#x201c;the IAS 1 Amendment&#x201d;) and subsequent amendment:
Non-Current Liabilities with Covenants (&#x201c;the IAS 1Subsequent Amendment&#x201d;)&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The IAS 1 Amendment, together with the
IAS 1 Subsequent Amendment (see below), replaces certain requirements for classifying liabilities as current or non-current.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;According to the IAS 1 Amendment, a liability
will be classified as non-current when the entity has the right to defer settlement for at least 12 months after the reporting period,
and it &#x201c;has substance&#x201d; and is in existence at the end of the reporting period.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;According to the IAS 1 Subsequent Amendment,
as published in October 2022, covenants with which the entity must comply after the reporting date do not affect classification of the
liability as current or non-current. Additionally, the IAS 1 Subsequent Amendment adds disclosure requirements for liabilities subject
to covenants within 12 months after the reporting date, such as disclosure regarding the nature of the covenants, the date they need to
be complied with and facts and circumstances that indicate the entity may have difficulty complying with the covenants. Furthermore, the
IAS 1 Amendment clarifies that the conversion option of a liability will affect its classification as current or non-current, other than
when the conversion option is recognized as equity.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The IAS 1 Amendment and the IAS 1 Subsequent
Amendment are effective for reporting periods beginning on or after January 1, 2024 with earlier application being permitted. The IAS
1 Amendment and IAS 1 Subsequent Amendment are applicable retrospectively, including an amendment to comparative data.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In the opinion of the Company, with regard
to current loans and covenants of the Company, application of the IAS 1 Amendment and the IAS 1 Subsequent Amendment is not expected to
have a material effect on the Company.&lt;/p&gt;</ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory>
    <ello:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements contextRef="c0" id="ixv-24587">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;A.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Basis of consolidation and equity method accounting &lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(1)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Subsidiaries&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Subsidiaries are entities controlled
by the Company. Control exists when the Company is exposed, or has rights, to variable returns from its involvement with the acquiree
and it has the ability to affect those returns through its power over the acquiree. Substantive rights held by the Company and others
are taken into account when assessing control. The financial statements of subsidiaries are included in the consolidated financial statements
from the date that control commences until the date that control is lost.&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(2)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Non-controlling interests&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Non-controlling interests comprise the
equity of a subsidiary that cannot be attributed, directly or indirectly, to the parent company and they include additional components
such as Issuance of capital note only to the non-controlling interest and share options of subsidiaries.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Allocation of profit or loss and other
comprehensive income to the shareholders&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Profit or loss and any part of other
comprehensive income are allocated to the owners of the Company and the non-controlling interests. Total comprehensive income is allocated
to the owners of the Company and the non-controlling interests even if the result is a negative balance of non-controlling interests.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Transactions with non-controlling
interests, while retaining control&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Transactions with non-controlling interests
while retaining control are accounted for as equity transactions. Any difference between the consideration paid or received and the change
in non-controlling interests is included in the owners&#x2019; share in equity of the Company directly in Transaction reserve with non-controlling
interests.&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(3)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Investment in associates and joint ventures (equity accounted
investees)&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Associates are those entities in which
the Company has significant influence, but not control or joint control, over the financial and operating policies. There is a rebuttable
presumption that significant influence exists when the Company holds between 20% and 50% of another entity. Joint ventures are joint
arrangements in which the Company has rights to the net assets of the arrangement.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Associates and joint ventures are accounted
for using the equity method (equity accounted investees) and are recognized initially at cost. The cost of the investment includes transaction
costs that are directly attributable to an expected acquisition of an associate or joint venture. The consolidated financial statements
include the Company&#x2019;s share of the income and expenses in profit or loss and of other comprehensive income of equity accounted
investees, after adjustments to align the accounting policies with those of the Company, from the date that significant influence commences
until the date that significant influence ceases.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Long-term interests in associates and
joint ventures that, in substance, form part of the net investment in the associate or joint venture, such as preferred shares and long-term
loans that their repayment is not expected and is unlikely to occur in the foreseeable future, are first accounted for in accordance
with the guidance of IFRS 9 and then the equity method is applied in accordance with the guidance of IAS 28.&lt;/p&gt;</ello:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements>
    <ifrs-full:PercentageOfEntitysRevenue contextRef="c75" decimals="2" id="ixv-65063" unitRef="pure">0.20</ifrs-full:PercentageOfEntitysRevenue>
    <ifrs-full:PercentageOfEntitysRevenue contextRef="c76" decimals="2" id="ixv-65064" unitRef="pure">0.50</ifrs-full:PercentageOfEntitysRevenue>
    <ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory contextRef="c0" id="ixv-24704">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;B.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Foreign currency&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(1)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Foreign currency transactions&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Transactions in foreign currencies are
translated to the respective functional currencies of the Company at exchange rates at the dates of the transactions. Monetary assets
and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency at the exchange rate
at that date. The foreign currency gain or loss on monetary items is the difference between amortized cost in the functional currency
at the beginning of the year, adjusted for effective interest and payments during the year, and the amortized cost in foreign currency
translated at the exchange rate at the end of the year.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Non-monetary assets and liabilities denominated
in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date that
the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated
using the exchange rate at the date of the transaction.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Foreign currency differences arising
on translation are generally recognized in profit or loss, except for qualifying cash flow hedges to the extent the hedge is effective,
which are recognized in other comprehensive income.&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(2)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Foreign operations&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The assets and liabilities of foreign
operations, including adjustments arising on consolidation, are translated at exchange rates at the reporting date. The income and expenses
for each period presented in the statement of profit or loss and other comprehensive income (loss) are translated at average exchange
rates for the presented periods; however, if exchange rates fluctuate significantly, income and expenses are translated at the exchange
rates at the date of the transactions.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Foreign currency exchange differences
are recognized in equity as a separate component of other comprehensive income (loss): &#x201c;foreign currency translation adjustments&#x201d;.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;When the foreign operation is a non-wholly-owned
subsidiary of the Company, then the relevant proportionate share of the foreign operation translation difference is allocated to the
non-controlling interests.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Foreign exchange gains and losses arising
from a monetary item receivable from, or payable to, a foreign operation, the settlement of which is neither planned nor likely in the
foreseeable future, are considered to form part of a net investment in a foreign operation and are recognized in other comprehensive
income (loss) and are presented within equity as part of the translation reserve.&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(3)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Presentation Currency&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;For the convenience of the reader, the
reported euro figures as of December 31, 2023 and for the year then ended, are also presented in dollars, translated at the representative
rate of exchange as of December 31, 2023 (euro 1.106 = US$ 1.00). The dollar amounts presented in these financial statements should not
be construed as representing amounts that are receivable or payable in dollars or convertible into dollars, unless otherwise indicated.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory>
    <ifrs-full:ClosingForeignExchangeRate contextRef="c77" decimals="3" id="ixv-65065" unitRef="pure">1.106</ifrs-full:ClosingForeignExchangeRate>
    <ifrs-full:ClosingForeignExchangeRate contextRef="c78" decimals="2" id="ixv-65066" unitRef="pure">1</ifrs-full:ClosingForeignExchangeRate>
    <ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory contextRef="c0" id="ixv-24819">&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;C.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Financial instruments&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(1)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Trade accounts receivables, services concession receivables
and other receivables&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company initially recognizes receivables
on the date that they are created. Receivables without a significant financing component are initially measured at the transaction price
and subsequently measured at amortized cost, using the effective interest method. The amortized cost is reduced by impairment losses.
Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss.&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(2)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Non-derivative financial liabilities&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company&#x2019;s financial liabilities
include loans and borrowings, trade payables, other payables, finance lease obligations, debentures, long-term loans and other long-term
liabilities.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company initially recognizes debt
securities issued on the date that they originated. All other financial liabilities are recognized initially on the trade date at which
the Company becomes a party to the contractual provisions of the instrument.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Financial liabilities are recognized
initially at fair value less any directly attributable transaction costs. Subsequent to initial recognition, these financial liabilities
are measured at amortized cost using the effective interest method.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Financial liabilities are derecognized
when the obligation of the Company, as specified in the agreement, expires or when it is discharged or cancelled.&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(3)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Derivative financial instruments, including hedge accounting&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company holds both derivative financial
instruments to hedge its interest rate risk exposures and fluctuating electricity prices risk exposures and derivatives that do not serve
hedging purposes.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"&gt;&lt;b&gt;&lt;i&gt;Hedge
accounting &lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company designates certain derivatives
as hedging instruments in order to hedge changes in cash flows that relate to highly probable forecasted transactions and which derive
from changes in fluctuation in the electricity prices and changes in interest on variable-rate loans. The Company continues to apply
IAS 39 for the hedge accounting.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company makes an assessment, both
at the inception of the hedge relationship as well as on an ongoing basis, as to whether the hedging instruments are expected to be &#x201c;highly
effective&#x201d; in offsetting the changes in the fair value or cash flows of the respective hedged items during the period for which
the hedge is designated, and whether the actual results of each hedge are within a range of 80-125 percent.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"&gt;&lt;b&gt;&lt;i&gt;Measurement
of derivative financial instruments&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Derivatives are recognized initially
at fair value and attributable transaction costs are recognized in profit or loss as incurred. Subsequent to initial recognition, derivatives
are measured at fair value, and changes therein are accounted for as described below.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"&gt;&lt;b&gt;&lt;i&gt;Cash flow
hedges&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;When a derivative instrument is designated
as a cash flow hedge, the effective portion of the changes in fair value of the derivative is recognized in other comprehensive income,
directly within a hedging reserve. The effective portion of changes in fair value of a derivative, recognized in other comprehensive
income, is limited to the cumulative change in fair value of the hedged item (based on present value), from inception of the hedge. The
change in fair value in respect of the ineffective portion is recognized immediately in profit or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;If the hedge no longer qualifies as an
accounting hedge, or the hedging instrument is sold, expires, is terminated or exercised, hedge accounting is discontinued on a prospective
basis. When hedge accounting is discontinued, the amounts accumulated in the past in the hedging reserve and cost of hedging reserve
remain in the reserve, until such time as they are included in the initial cost of the non-financial item (for hedged transactions whose
result is a non-financial item), or until such time as they are reclassified to profit or loss in the period, or periods, in which the
hedged forecasted future cash flows affect profit or loss (for other cash flows hedges).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"&gt;&lt;b&gt;&lt;i&gt;Economic
hedges&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Hedge accounting is not applied to derivative
instruments that economically hedge financial assets and liabilities denominated in foreign currencies. Changes in the fair value of
such derivatives are recognized in profit or loss under financing income or expenses.&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(4)&lt;/b&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"&gt;&lt;b&gt;Interest Rate Benchmark Reform&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;When the basis for determining the contractual
cash flows of a financial asset or financial liability measured at amortized cost changes as a result of interest rate benchmark reform,
the Company updates the effective interest rate of the financial asset or financial liability to reflect the change required by the reform.
When changes are made to a financial asset or financial liability in addition to changes to the basis for determining the contractual
cash flows required by interest rate benchmark reform, in addition to adjusting the effective interest rate as a result of the reform
the Company applies on accounting for substantial modifications in terms of debt instruments.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(5)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;CPI-linked assets and liabilities that are not measured
at fair value&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The value of CPI-linked financial assets
and liabilities, which are not measured at fair value, is re-measured every period in accordance with the actual increase/decrease in
the CPI.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory>
    <ello:PercentageOfHedge contextRef="c75" decimals="2" id="ixv-65067" unitRef="pure">0.80</ello:PercentageOfHedge>
    <ello:PercentageOfHedge contextRef="c76" decimals="2" id="ixv-65068" unitRef="pure">1.25</ello:PercentageOfHedge>
    <ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory contextRef="c0" id="ixv-25026">&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;D.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Fixed assets&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;(1)&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;i&gt;Recognition and measurement&lt;/i&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Fixed assets items are measured at cost
less accumulated depreciation. Cost includes expenditures that are directly attributable to the acquisition of the fixed asset. The cost
of self-constructed assets includes the cost of materials and direct labor, any other costs directly attributable to bringing the assets
to a working condition for their intended use, an estimate of the costs of dismantling and removing the items and restoring the site
on which they are located, and capitalized borrowing costs (mainly specific). Project licenses are included in the cost of photovoltaic
plants.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The costs of replacing part of a fixed
asset item and other subsequent expenses are capitalized if it is probable that the future economic benefits associated with them will
flow to the Company and their cost can be measured reliably. The carrying amount of the replaced part of a fixed asset item is derecognized.
The costs of day-to-day servicing are recognized in profit or loss as incurred.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Gains and losses on disposal of a fixed
asset item are determined by comparing the net proceeds from disposal with the carrying amount of the asset, and are recognized in profit
or loss.&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;(2)&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;i&gt;Depreciation&lt;/i&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Depreciation is a systematic allocation
of the depreciable amount of an asset over its useful life. The depreciable amount is the cost of the asset, or other amount substituted
for cost, less its residual value. An asset is depreciated from the date it is ready for use, meaning the date it reaches the location
and condition required for it to operate in the manner intended by management. Depreciation is recognized in profit or loss on a straight-line
basis over the estimated useful lives of each part of the fixed asset item.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The estimated useful lives are as follows:&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;% per annum&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Mainly % &lt;br/&gt;
per annum&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 50%; text-align: left"&gt;Office furniture and equipment&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 24%; text-align: center"&gt;6-33&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 24%; text-align: center"&gt;33&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Photovoltaic plants in Spain&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;5&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;5&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Biogas plants in the Netherlands&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;8&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;8&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Leasehold improvements&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;Over the shorter of the lease period or the life of the asset&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;7&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The estimated useful life of the project
licenses of photovoltaic plants that are carried at cost is 20-25 years for the Company&#x2019;s Spanish subsidiaries. The estimated useful
life of the project licenses of the Company&#x2019;s Netherlands anaerobic digestion plants that are carried at cost is 13 years. The
fixed assets residual values, useful lives and methods of depreciation are reviewed at each financial year-end and adjusted if appropriate.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory>
    <ello:DisclosureOfDetailedInformationAboutScheduleOfEstimatedUsefulLivesExplanatory contextRef="c0" id="ixv-65069">The estimated useful lives are as follows:&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;% per annum&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Mainly % &lt;br/&gt;
per annum&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 50%; text-align: left"&gt;Office furniture and equipment&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 24%; text-align: center"&gt;6-33&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 24%; text-align: center"&gt;33&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Photovoltaic plants in Spain&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;5&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;5&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Biogas plants in the Netherlands&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;8&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;8&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Leasehold improvements&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;Over the shorter of the lease period or the life of the asset&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;7&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:DisclosureOfDetailedInformationAboutScheduleOfEstimatedUsefulLivesExplanatory>
    <ello:PercentagePropertyPlant contextRef="c79" decimals="2" id="ixv-65070" unitRef="pure">0.06</ello:PercentagePropertyPlant>
    <ello:PercentagePropertyPlant contextRef="c80" decimals="2" id="ixv-65071" unitRef="pure">0.33</ello:PercentagePropertyPlant>
    <ello:MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment contextRef="c81" decimals="2" id="ixv-65072" unitRef="pure">0.33</ello:MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment>
    <ello:PercentagePropertyPlant contextRef="c82" decimals="2" id="ixv-65073" unitRef="pure">0.05</ello:PercentagePropertyPlant>
    <ello:MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment contextRef="c82" decimals="2" id="ixv-65074" unitRef="pure">0.05</ello:MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment>
    <ello:PercentagePropertyPlant contextRef="c83" decimals="2" id="ixv-65075" unitRef="pure">0.08</ello:PercentagePropertyPlant>
    <ello:MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment contextRef="c83" decimals="2" id="ixv-65076" unitRef="pure">0.08</ello:MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment>
    <ello:LeaseholdImprovements contextRef="c84" id="ixv-65077">Over the shorter of the lease period or the life of the asset</ello:LeaseholdImprovements>
    <ello:MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment contextRef="c84" decimals="2" id="ixv-65078" unitRef="pure">0.07</ello:MainlyUsefulLivesOrDepreciationRatePropertyPlantAndEquipment>
    <ello:estimatedUsefulLlifeYear contextRef="c75" id="ixv-65079">P20Y</ello:estimatedUsefulLlifeYear>
    <ello:estimatedUsefulLlifeYear contextRef="c76" id="ixv-65080">P25Y</ello:estimatedUsefulLlifeYear>
    <ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory contextRef="c0" id="ixv-25136">&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;E.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Impairment for non-financial assets&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The carrying amounts of the Company&#x2019;s
non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication
exists, then the asset&#x2019;s recoverable amount is estimated.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;For the purpose of impairment testing,
assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing
use that are largely independent of the cash inflows of other assets or groups of assets (the &#x201c;cash-generating unit&#x201d;). The
Company views each PV plant as a separate cash-generating unit.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The recoverable amount of an asset or
cash-generating unit is the greater of its fair value less costs of disposal and its value in use.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory contextRef="c0" id="ixv-25155">&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;F.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Leases&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 36pt"&gt;&lt;/td&gt;&lt;td style="width: 34.9pt"&gt;&lt;i&gt;(1)&lt;/i&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;i&gt;Leased assets and lease liabilities&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Contracts that award the Company control
over the use of a leased asset for a period of time in exchange for consideration are accounted for as leases. Upon initial recognition,
the Company recognizes a liability at the present value of the balance of future lease payments (these payments do not include certain
variable lease payments), and concurrently recognizes a right-of-use asset at the same amount of the lease liability, adjusted for any
prepaid or accrued lease payments, plus initial direct costs incurred in respect of the lease.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Since the interest rate implicit in the
Company&#x2019;s leases is not readily determinable, the incremental borrowing rate of the lessee is used. Subsequent to initial recognition,
the right-of-use asset is accounted for using the cost model and depreciated over the shorter of the lease term or useful life of the
asset.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company has elected to apply the
practical expedient by which short-term leases of up to one year and/or leases in which the underlying asset has a low value, are accounted
for such that lease payments are recognized in profit or loss on a straight-line basis, over the lease term, without recognizing an asset
and/or liability in the statement of financial position.&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 36pt"&gt;&lt;/td&gt;&lt;td style="width: 34.9pt"&gt;&lt;i&gt;(2)&lt;/i&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;i&gt;Variable lease payments&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Variable lease payments that depend on
an index or a rate, are initially measured using the index or rate existing at the commencement of the lease and are included in the
measurement of the lease liability. When the cash flows of future lease payments change as the result of a change in an index or a rate,
the balance of the liability is adjusted against the right-of-use asset. Other variable lease payments that are not included in the measurement
of the lease liability are recognized in profit or loss in the period in which the event or condition that triggers payment occurs.&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 36pt"&gt;&lt;/td&gt;&lt;td style="width: 34.9pt"&gt;&lt;i&gt;(3)&lt;/i&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;i&gt;Depreciation of right-of-use
                                            asset&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;After lease commencement, a right-of-use
asset is measured on a cost basis less accumulated depreciation and accumulated impairment losses and is adjusted for re-measurements
of the lease liability. Depreciation is calculated on a straight-line basis over the useful life or contractual lease period, whichever
earlier. The main right of use assets are lands which are depreciated over 20-40 years.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory>
    <ello:DepreciatedTerm contextRef="c75" id="ixv-65081">P20Y</ello:DepreciatedTerm>
    <ello:DepreciatedTerm contextRef="c76" id="ixv-65082">P40Y</ello:DepreciatedTerm>
    <ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue contextRef="c0" id="ixv-25236">&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;G.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Revenue recognition&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Revenues are derived primarily from the
sale of electricity and natural gas to customers. Revenues are recognized when the customer obtains control over the promised products,
i.e. when the natural gas or electricity is delivered to the customer. The revenue is measured according to the amount of consideration
to which the Company expects to be entitled in exchange for the products promised to the customer, other than amounts collected for third
parties.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Revenues from the sale of electricity
and natural gas are recognized when the units produced are transferred to the grid at connection points on the basis of a meter reading.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Revenues in respect of units produced
and transferred to the grid in the period between the most recent meter reading and the date of the statement of financial position,
are included based on an estimate.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In some of the Company&#x2019;s PV plants
in Spain, the proceeds from the sale of electricity also depend on the subsidies granted by the local government in accordance with changes
in the market prices of electricity. The Company measures revenues while taking into account the increase or decrease of the subsidies
it will receive as a result of changes in market prices throughout the current year.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue>
    <ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory contextRef="c0" id="ixv-25258">&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;H.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Income tax&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Income tax consists of current tax and
deferred tax. Current tax and deferred tax are recognized in profit or loss except to the extent that the tax arises from items which
are recognized directly in equity. In such cases, the tax effect is also recognized in the relevant item in equity.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Deferred tax is recognized in respect
of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used
for taxation purposes, except for a limited number of exceptions, including differences relating to investments in subsidiaries, joint
arrangements and associates, to the extent that the Company is able to control the timing of the reversal of the temporary difference
and it is probable that they will not reverse in the foreseeable future, either by way of selling the investment or by way of distributing
dividends in respect of the investment.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;A deferred tax asset is recognized for
unused tax losses, tax benefits and deductible temporary differences, to the extent that it is probable that future taxable profits will
be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent
that it is no longer probable that the related tax benefit will be realized.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Deferred tax assets that were not recognized
are reevaluated at each reporting date and recognized if it has become probable that future taxable profits will be available against
which they can be utilized.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory contextRef="c0" id="ixv-25313">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;I.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Financing income and expenses&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Financing income comprises interest income
on bank deposits and marketable securities, gains on changes in the fair value of financial assets at fair value through profit or loss,
gains on hedging instruments that are recognized in profit or loss and exchange rate differences. Interest income is recognized as it
accrues. Changes in the fair value of financial assets at fair value through profit or loss also include income from dividends and interest.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Financing expenses consist of bank charges,
interest expenses on borrowings and debentures, changes in the fair value of financial assets at fair value through profit or loss, losses
on hedging instruments that are recognized in profit or loss, and exchange rate differences.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Borrowing costs, which are not capitalized
to qualifying assets, are recognized in profit or loss using the effective interest method. Foreign currency gains and losses on financial
assets and financial liabilities are reported on a net basis as either financing income or financing expenses depending on whether foreign
currency movements are in a net gain or net loss position.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In the statements of cash flows, interest
received and interest paid are presented as part of cash flows from operating activities. Financing costs that were capitalized to qualifying
assets are presented as part of cash flows from investment activities&lt;b&gt;.&lt;/b&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForServiceConcessionArrangementsExplanatory contextRef="c0" id="ixv-25337">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;J.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Service concession arrangements&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify"&gt;As part of service concession arrangements
with government bodies for the construction and operation of a facility in consideration for fixed and variable payments, the Company
recognizes a financial asset commencing from the start of the construction of the facility when it has an unconditional right to receive
cash or some other financial asset for the construction services. The financial asset reflects the unconditional payments receivable in
the future from the government body and bears an appropriate rate of interest for risk that is determined based on the risk of the customer.
The aforementioned financial assets are stated at fair value upon initial recognition and at amortized cost in subsequent periods. As
from January 1, 2018, the Company&#x2019;s right to receive consideration for the construction services, constitutes a contract asset until
the end of the construction period.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In projects accounted for using the financial
asset model, when at the end of the construction period there is an unconditional right (other than that of the passing of time) to receive
consideration for the construction services, the contract asset is classified to receivables (financial asset) according to the carrying
amount of the contract asset.&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForServiceConcessionArrangementsExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory contextRef="c0" id="ixv-25355">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;K.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Discontinued operations&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company classifies an operation as
a discontinued operation when it meets the criteria to be classified as held for sale. The discontinued operation is a component of the
Company&#x2019;s business that represents a separate major line of business. The comparative income statement is restated as if the operation
had been discontinued from the start of the earliest comparative period.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory>
    <ello:DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory contextRef="c0" id="ixv-25403">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;L.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;New standards, amendments to standards and interpretations
not yet adopted&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;b&gt;Amendment to IAS 1, &lt;i&gt;Presentation
of Financial Statements: Classification of Liabilities as Current or Non-Current (&#x201c;the IAS 1 Amendment&#x201d;) and subsequent amendment:
Non-Current Liabilities with Covenants (&#x201c;the IAS 1Subsequent Amendment&#x201d;)&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The IAS 1 Amendment, together with the
IAS 1 Subsequent Amendment (see below), replaces certain requirements for classifying liabilities as current or non-current.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;According to the IAS 1 Amendment, a liability
will be classified as non-current when the entity has the right to defer settlement for at least 12 months after the reporting period,
and it &#x201c;has substance&#x201d; and is in existence at the end of the reporting period.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;According to the IAS 1 Subsequent Amendment,
as published in October 2022, covenants with which the entity must comply after the reporting date do not affect classification of the
liability as current or non-current. Additionally, the IAS 1 Subsequent Amendment adds disclosure requirements for liabilities subject
to covenants within 12 months after the reporting date, such as disclosure regarding the nature of the covenants, the date they need to
be complied with and facts and circumstances that indicate the entity may have difficulty complying with the covenants. Furthermore, the
IAS 1 Amendment clarifies that the conversion option of a liability will affect its classification as current or non-current, other than
when the conversion option is recognized as equity.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The IAS 1 Amendment and the IAS 1 Subsequent
Amendment are effective for reporting periods beginning on or after January 1, 2024 with earlier application being permitted. The IAS
1 Amendment and IAS 1 Subsequent Amendment are applicable retrospectively, including an amendment to comparative data.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In the opinion of the Company, with regard
to current loans and covenants of the Company, application of the IAS 1 Amendment and the IAS 1 Subsequent Amendment is not expected to
have a material effect on the Company.&lt;/p&gt;</ello:DescriptionOfAccountingPolicyForNewStandardsAmendmentsToStandardsAndInterpretationsNotYetAdoptedExplanatory>
    <ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory contextRef="c0" id="ixv-25457">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;Note 4 - Cash and Cash Equivalents&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%"&gt;Cash&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;21,093&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;14,768&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;On call deposits&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;30,034&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;31,690&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;51,127&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;46,458&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;Cash and cash equivalents in the statement of cash flows&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;51,127&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;46,458&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The Company&#x2019;s exposure to credit,
interest rate and currency risks, and a sensitivity analysis for financial assets, are included in Note 21 regarding financial instruments.&lt;/p&gt;</ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory>
    <ello:DisclosureOfCashAndCashEquivalentstableTextBlock contextRef="c0" id="ixv-25461">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%"&gt;Cash&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;21,093&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;14,768&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;On call deposits&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;30,034&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;31,690&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;51,127&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;46,458&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;Cash and cash equivalents in the statement of cash flows&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;51,127&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;46,458&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:DisclosureOfCashAndCashEquivalentstableTextBlock>
    <ifrs-full:Cash contextRef="c2" decimals="-3" id="ixv-65083" unitRef="eur">21093000</ifrs-full:Cash>
    <ifrs-full:Cash contextRef="c3" decimals="-3" id="ixv-65084" unitRef="eur">14768000</ifrs-full:Cash>
    <ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents contextRef="c2" decimals="-3" id="ixv-65085" unitRef="eur">30034000</ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents>
    <ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents contextRef="c3" decimals="-3" id="ixv-65086" unitRef="eur">31690000</ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents>
    <ifrs-full:CashAndCashEquivalents contextRef="c2" decimals="-3" id="ixv-65087" unitRef="eur">51127000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:CashAndCashEquivalents contextRef="c3" decimals="-3" id="ixv-65088" unitRef="eur">46458000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:CashAndCashEquivalents contextRef="c2" decimals="-3" id="ixv-65089" unitRef="eur">51127000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:CashAndCashEquivalents contextRef="c3" decimals="-3" id="ixv-65090" unitRef="eur">46458000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory contextRef="c0" id="ixv-25537">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 5 - Restricted Cash, Deposits and Marketable
Securities&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; width: 76%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Marketable
securities&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; width: 9%; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-124"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; width: 9%; text-align: right"&gt;2,836&lt;/td&gt;&lt;td style="padding-bottom: 4pt; width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;Short-term deposits &lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;997&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-125"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;Short-term restricted cash&lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;810&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;900&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Restricted cash and bank deposits, long-term&lt;sup&gt;(1)&lt;/sup&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;17,386&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;20,192&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.25in"&gt;(1)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Deposits used to secure obligations under agreements (see Notes 6 and 21E(3)) and loan
agreements (see Note 11).&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory>
    <ello:DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory contextRef="c0" id="ixv-25543">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; width: 76%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Marketable
securities&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; width: 9%; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-124"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; width: 9%; text-align: right"&gt;2,836&lt;/td&gt;&lt;td style="padding-bottom: 4pt; width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;Short-term deposits &lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;997&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-125"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;Short-term restricted cash&lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;810&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;900&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Restricted cash and bank deposits, long-term&lt;sup&gt;(1)&lt;/sup&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;17,386&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;20,192&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.25in"&gt;(1)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Deposits used to secure obligations under agreements (see Notes 6 and 21E(3)) and loan
agreements (see Note 11).&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</ello:DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory>
    <ifrs-full:CurrentHeldtomaturityInvestments contextRef="c86" decimals="-3" id="ixv-65091" unitRef="eur">2836000</ifrs-full:CurrentHeldtomaturityInvestments>
    <ello:ShortTermDeposits contextRef="c85" decimals="-3" id="ixv-65092" unitRef="eur">997000</ello:ShortTermDeposits>
    <ifrs-full:CurrentRestrictedCashAndCashEquivalents
      contextRef="c85"
      decimals="-3"
      id="ix_74_fact"
      unitRef="eur">810000</ifrs-full:CurrentRestrictedCashAndCashEquivalents>
    <ifrs-full:CurrentRestrictedCashAndCashEquivalents
      contextRef="c86"
      decimals="-3"
      id="ix_75_fact"
      unitRef="eur">900000</ifrs-full:CurrentRestrictedCashAndCashEquivalents>
    <ello:RestrictedCashAndLongTermBankDeposits
      contextRef="c85"
      decimals="-3"
      id="ix_76_fact"
      unitRef="eur">17386000</ello:RestrictedCashAndLongTermBankDeposits>
    <ello:RestrictedCashAndLongTermBankDeposits
      contextRef="c86"
      decimals="-3"
      id="ix_77_fact"
      unitRef="eur">20192000</ello:RestrictedCashAndLongTermBankDeposits>
    <ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory contextRef="c0" id="ixv-25672">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 6 - Investee Companies and other investments&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;A.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Equity accounted investees&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white"&gt;&lt;b&gt;Ellomay Luzon Energy Infrastructures
Ltd. (&#x201c;Ellomay Luzon Energy&#x201d;)&#x2013; &lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Since November 2010, the Company indirectly
(through Ellomay Clean Energy LP (&#x201c;Ellomay Energy LP&#x201d;)) holds 50% of Ellomay Luzon Energy (formerly U. Dori Energy Infrastructures
Ltd.). Ellomay Luzon Energy holds 18.75% of the share capital of Dorad Energy Ltd. (&#x201c;Dorad&#x201d;), which owns an approximate 850
MWp dual-fuel operated power plant in the vicinity of Ashkelon, Israel (the &#x201c;Dorad Power Plant&#x201d;). The investment in Ellomay
Luzon Energy is accounted for under the equity method.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;On May 12, 2014, Dorad was issued a production
license for 20 years and on May 19, 2014, Dorad began commercial operation of the power plant. In July 2015, Dorad was issued a long-term
supply license that will expire on May 11, 2034.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify"&gt;Effective December 31, 2022, Ellomay
Energy LP and Ellomay Luzon Energy entered into a loan agreement and capital notes agreements, which provide for the conversion of approximately
NIS 23,467 thousand of the then outstanding shareholders&#x2019; loans provided by them to Ellomay Luzon Energy to capital notes, payable
not less than 60 months after the date of their execution, at the sole discretion of Ellomay Luzon Energy, with the remaining balance
of shareholders&#x2019; loans (NIS 10 million), linked to the Israeli CPI and bearing an annual interest equal to the interest payable
on Dorad&#x2019;s senior debt plus 3%, with a repayment date of December 31, 2023. The Luzon Group entered into a similar loan agreement
and capital notes with respect to its portion of the shareholders&#x2019; loans. During the year ended December 31, 2023, Ellomay Luzon
Energy repaid all outstanding shareholders&#x2019; loans. Such shareholders&#x2019; loans were repaid from proceeds from dividends distributed
by Dorad.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify"&gt;As of December 31, 2023, Dorad provided,
through its shareholders at their proportionate holdings and as required by the financing agreements executed by Dorad, guarantees in
favor of the Israeli Electricity Authority, NOGA &#x2013; electricity system management and Israel Natural Gas Lines Ltd. in the aggregate
amount of approximately NIS 162,000 thousand (approximately &#x20ac;40,400 thousand). The Company&#x2019;s indirect share of guarantees provided
on behalf of Dorad by Dorad&#x2019;s shareholders is approximately NIS 15,000 thousand (approximately &#x20ac;3,700 thousand).&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify"&gt;Dorad&#x2019;s revenues and operating
expenses are affected by the average production component as determined by the Israeli Electricity Authority. The average production component
was reduced by approximately 5.7% commencing January 1, 2021, increased by approximately 13.6% commencing February 1, 2022, increased
by approximately 9.4% compared to the 2021 tariff, commencing May 1, 2022, increased by approximately 24.3% compared to the 2021 tariff,
decreased by approximately 0.7% commencing January 1, 2023, decreased by approximately 1.2% from February 1, 2023, decreased by approximately
1.4% commencing April 1, 2023, and decreased by approximately 1% commencing February 2024.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Dorad&#x2019;s financing expenses are affected
by the indexation to the Israeli CPI of its Project Finance. The Israeli CPI increased by approximately 3.3% in 2023 and by approximately
5.3% during 2022.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify"&gt;On November 22, 2020, the IEC filed a
third-party notice against Dorad in connection with a class action submitted against the IEC claiming that the IEC was negligent in overseeing
the private electricity manufacturers thereby damaging the electricity consumers. The claim against the IEC alleges that the private electricity
manufacturers provided false reports in the consumption plans they submitted to the system manager in the IEC, based on the standards
set by the Israeli Electricity Authority. On April 10, 2023, the court decided to reject the request to send a third-party notice to Dorad.
On June 11, 2023, IEC filed an appeal to the Israeli Supreme Court. On June 29, 2023, the Supreme Court decided that the respondents must
submit a written answer to the appeal by March 14, 2024, and the hearing of the appeal was set for May 6, 2024. At this point, based on
the advice of legal counsel, Dorad cannot estimate the outcome of this legal proceeding.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Dorad and its shareholders are involved
in several legal proceedings as follows:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"&gt;&lt;i&gt;Petition to Approve a Derivative
Claim filed by Ellomay Luzon Energy&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;On July 16, 2015, Ellomay Luzon Energy
and Ellomay Luzon Energy&#x2019;s representative on Dorad&#x2019;s board of directors at the time, Mr. Hemi Raphael, filed a petition (the
&#x201c;Petition&#x201d;), for approval of a derivative action on behalf of Dorad with the Economic Department of the Tel Aviv-Jaffa&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;District Court. The Petition was filed
originally against Zorlu Enerji Elektrik Uretim A.S (&#x201c;Zorlu&#x201d;), which holds 25% of Dorad, Zorlu&#x2019;s current and past representatives
on Dorad&#x2019;s board of directors and Wood Group Gas Turbines Services Ltd. (&#x201c;Wood Group&#x201d;) and several of its affiliates,
and thereafter amended to add Mr. Ori Edelsburg (a director in Dorad) and affiliated companies. The Petition requested, inter alia, that
the court instruct the defendants to disclose and provide to Dorad documents and information relating to the contractual relationship
between Zorlu and Wood Group, which included the transfer of funds from Wood Group to Zorlu in connection with the EPC agreement of the
Dorad Power Plant.&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;On December 27, 2016, this proceeding,
as well as the petition to approve a derivative claim filed by Edelcom mentioned below, were moved to an arbitration proceeding. On February
23, 2017, a statement of claim was filed by Ellomay Luzon Energy and Mr. Hemi Raphael on behalf of Dorad against Zorlu, Mr. Edelsburg,
Edelcom Ltd. (&#x201c;Edelcom&#x201d;) and Edeltech Holdings 2006 Ltd. (&#x201c;Edeltech&#x201d;) in which they repeated their claims included
in the Petition and in which they required the arbitrator to obligate the defendants, jointly and severally, to pay an amount of $183,367,953
plus interest and linkage to Dorad.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify"&gt;In April 2017, the defendants filed their
statements of defense. Within the said statements of defense, Zorlu attached a third party notice against Dorad, Ellomay Luzon Energy
and the Luzon Group, in the framework of which it repeated the claims on which its defense statement was based and claimed, among other
claims, that if the plaintiffs&#x2019; claim against Zorlu was accepted and would negate Zorlu&#x2019;s right receive compensation and profit
from its agreement with Dorad and therefore Zorlu should be compensated in the amount of approximately NIS 906.4 million (approximately
&#x20ac;218 million based on the then existing exchange rate). Similarly, also within their statement of defense, Edelcom, Mr. Edelsburg
and Edeltech (together, the &#x201c;Edelsburg Group&#x201d;) filed a third-party notice against Ellomay Luzon Energy claiming for breaches
by Ellomay Luzon Energy of the duty to act in good faith in contract negotiations and that any amount ruled will constitute unlawful enrichment.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;On October 1, 2017, Eilat Ashkelon Infrastructure
Services Ltd. (&#x201c;EAIS&#x201d;), which holds 37.5% of Dorad&#x2019;s shares, filed a statement of claim in the arbitration proceedings.
In its statement of claim, EAIS joins Ellomay Luzon Energy&#x2019;s and Mr. Raphael&#x2019;s request as set forth in the statement of claim
filed by them in the arbitration proceeding and raises claims that are similar to the claims raised by Ellomay Luzon Energy and Mr. Raphael.
In January 2018, the arbitrator provided its ruling that the legal validity of the actions or inactions of board members of Dorad will
be attributed to the entities that are shareholders of Dorad on whose behalf the relevant board member acted and the legal determinations,
if any, will be directed only towards the shareholders of Dorad.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;During January 2018, Mr. Edelsburg, Edelcom
and Zorlu filed their statement of defense in connection with the claim filed by EAIS and also filed third party notices against EAIS,
Ellomay Luzon Energy and the Luzon Group claiming that EAIS and the Luzon Group enriched themselves at Dorad&#x2019;s account without providing
disclosure to the other shareholders and requesting that, should the position of Ellomay Luzon Energy and EAIS be accepted in the main
proceeding, the arbitrator, among other things, obligate EAIS to refund to Doard all of the rent paid to date and determine that Dorad
is not required to pay any rent in the future or determine that the rent fees be reduced to their market value and refund Dorad the excess
amounts paid by it to EAIS, determine that the board members that represent EAIS and Ellomay Luzon Energy breached their fiduciary duties
towards Dorad and obligate EAIS and Ellomay Luzon Energy to pay the amount of $140 million (approximately &#x20ac;127 million), plus interest
in the amount of $43 million (approximately &#x20ac;39 million), which is the amount Zorlu received for the sale of its rights under the
Dorad EPC agreement, and rule that in connection with the engineering and construction works performed by the Luzon Group, the Luzon Group
and Ellomay Luzon Energy are required to refund to Dorad or compensate the defendants in an amount of $24 million (approximately &#x20ac;22
million), plus interest and linkage and, alternatively, determine that Mr. Edelsburg, Edelcom and Zorlu are entitled to indemnification
from the third parties for the entire amount they will be required to pay.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;On February 15, 2021, the arbitrator approved
replacing the late Mr. Hemi Raphael as the claimant with Mr. Ran Fridrich. On June 28, 2023, the arbitration award was provided. For more
information see below under &#x201c;Arbitration Award.&#x201d;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"&gt;&lt;i&gt;Petition to Approve
a Derivative Claim filed by Edelcom&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: justify"&gt;On July 25, 2016, Edelcom, which holds
18.75% of Dorad, filed a petition for approval of a derivative action on behalf of Dorad (the &#x201c;Edelcom Petition&#x201d;) against
Ellomay Energy LP, Luzon Group, Ellomay Luzon Energy and Dorad following a letter delivered to Dorad on February 25, 2016. The Edelcom
Petition refers to an entrepreneurship agreement that was signed on November 25, 2010, between Dorad and the Luzon Group, pursuant to
which the Luzon Group received payment in the amount of approximately NIS 49.4 million (approximately &#x20ac;11.9 million) in consideration
for management and entrepreneurship services.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Pursuant to this agreement, the
Luzon Group undertook to continue holding, directly or indirectly, at least 10% of Dorad&#x2019;s share capital for a period of 12
months from the date the Dorad Power Plant is handed over to Dorad by the construction contractor. The Edelcom Petition claims that
as a consequence of the management rights and the options to acquire additional shares of Ellomay Luzon Energy&#160;granted to the
Company&#160;pursuant to the Investment&#160;Agreement, the holdings of the Luzon Group in Dorad have fallen below 10% upon
execution of the Luzon Investment Agreement. The Edelcom Petition therefore claims that Luzon Group breached its commitment
according to entrepreneurship agreement and requests that a derivative action be approved to recover an amount of NIS 49.4 million,
plus linkage and interest from the defendants.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;As noted above, on December 27, 2016,
this proceeding, along with the proceeding mentioned above and below, was moved to arbitration.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;i&gt;Arbitration Award&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;On June 28, 2023, an arbitration award
was issued in connection with the arbitration proceeding as follows:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in"&gt;&lt;span&gt;&#x25cf;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;i&gt;Petition to Approve a Derivative Claim filed by Ellomay Luzon Energy and Hemi Raphael&lt;/i&gt; - The arbitration
award accepts the majority of the claims made by the Plaintiffs and the arbitrator ruled that the defendants, severally and jointly, are
required to: (i) pay Dorad an amount of $100 million, bearing interest pursuant to applicable law from January 1, 2013 until the payment
date, (ii) bear the expenses of the plaintiffs, including Ellomay Luzon Energy, in an aggregate amount of NIS 20 million, plus VAT, and
(iii) bear 80% of the expenses of Dorad in the proceeding (while the Plaintiffs will bear the remaining 20%).&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in"&gt;&lt;span&gt;&#x25cf;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;i&gt;Third-Party Notices and Counterclaims submitted by Zorlu and Edelcom&lt;/i&gt; - The arbitration award provides
that due to the ruling accepting the derivative petition as detailed above, the third-party notices and counterclaim are rejected.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 92.15pt"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in"&gt;&lt;span&gt;&#x25cf;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;i&gt;Petition to Approve a Derivative Claim filed by Edelcom&lt;/i&gt; - The arbitration award provides, inter
alia, that the entrepreneurship agreement was not breached and therefore there is no basis for approving a derivative claim.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In November 2023, appeals were submitted
by the plaintiffs and the defendants against the arbitration award. In their appeal, the defendants claimed, inter alia, that the arbitrator
was mistaken in his arbitration award decisions and requested alternative rulings either accepting the appeal and cancelling the entire
financial payment decision included in the arbitration award or a partial cancellation of the financial payment decision included in the
arbitration award and a relative decrease of the interest and expenses obligation imposed on the defendants. In their appeal, the plaintiffs
appealed the financial payment decision and claimed that the amount ruled should have been higher and also appealed the interest rate
determined with respect to the financial payment and the scope of expenses reimbursement. The parties filed responses to the appeals in
February 2024 and the last date for submission of answers to the responses was scheduled for May 2024. A preliminary hearing is scheduled
for May 30, 2024.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;

&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;As of the date hereof, based on the advice
of legal counsel of Ellomay Luzon Energy, it is too early to estimate the outcome of the appeals. As Edelcom did not appeal the arbitrator&#x2019;s
decision with respect to the petition to approve a derivative claim filed by Edelcom in connection with the entrepreneurship fees, the
arbitration award remains unchanged with respect to this petition and claim.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in"&gt;&lt;i&gt;Potential Expansion
of the Dorad Power Plant (&#x201c;Dorad 2&#x201d;)&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Dorad is examining the possibility of
constructing an additional power plant within the area of the existing Dorad Power Plant, that will become part of the existing plant.
On July 13, 2020, Dorad submitted to the National Infrastructure Committee, or NIC, plans for public objections, on January 11, 2021,
the NIC decided to postpone the final decision and on December 27, 2021, the NIC decided to raise the construction of another power plant
to a government decision. The NIC&#x2019;s decision includes conditions to the issuance of the building permit. On May 28, 2023, the Israeli
Government approved the national infrastructures plan (NIP 11/b) which governs, among other issues, the expansion of the power plant owned
by Doard by approximately 650 MW.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;On January 16, 2024, Dorad received a
letter from Edelcom stating that Edelcom, as a shareholder of Dorad, objects to the proposal to expand the power plant. On February 19,
2024, Dorad received a planning survey to receive the expansion of the power plant from the System Manager, which allows electricity to
be taken out commencing October 2028.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In March 2024, Dorad filed a petition
with the Israeli Supreme Court asking for the issuance of a building permit for the construction of the &#x201c;Dorad 2&#x201d; power plant.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;

&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The expansion of the Dorad Power Plant
by building the Dorad 2 facility in a combined cycle technology, will result in an aggregate capacity of the Dorad Power Plant of approximately
1,500 MW and the approved plan also enables adding batteries with a capacity of approximately 80 MW. The Company expects that if the Dorad
2 plan will materialize and the expansion will be completed, the expansion of the power plant will increase the revenues and income of
Dorad. The expansion has not yet been approved and is subject to various conditions.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in"&gt;&lt;i&gt;Impact of War in
Israel&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;On October 7, 2023, following a surprise
attack by the terrorist organization Hamas against the State of Israel and its citizens, the Israeli government declared a war (the &#x201c;Iron
Swords War&#x201d;), which continues as of the date of this report, and which has also expanded into a security conflict in the northern
region. During the days of fighting, thousands of rockets were launched towards the State of Israel, and shrapnel fell several times in
the territory of the power plant, which caused immaterial damage to property and equipment but did not impact the regular operation of
the power plant. Dorad estimates at this stage, that the current events and the security escalation in Israel have an impact on its results
but that the impact on its short-term business results will be immaterial. Since this is an event that is not under the control of Dorad
and matters such as the fighting continuing or stopping may affect the Dorad&#x2019;s assessments, as at the reporting date Dorad is unable
to assess the extent of the effect of the Iron Swords War on its business activities and on its medium and long-term results.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;

&lt;/p&gt;&lt;p style="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"&gt;&lt;b&gt;Composition
of the investment&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -0.5in"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -0.5in"&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;b&gt;December 31&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;b&gt;2023&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;b&gt;2022&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;b&gt;&#x20ac; in thousands&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%"&gt;Investment in shares&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;31,772&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;30,029&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;Long-term loans&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-126"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,665&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;31,772&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;32,694&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;Current maturities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-127"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,665&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;Investment in equity accounted investee&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;31,772&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;30,029&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;

&lt;p style="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left"&gt;&lt;b&gt;Changes in investments&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%"&gt;Balance as at January 1&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;b&gt;30,029&lt;/b&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;34,029&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Long term loans extended&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-128"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;128&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Dividend distribution&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(374&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-129"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Repayment of long-term loans&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-130"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(149&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Reevaluation in connection with long term loans&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-131"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(270&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;The Company&#x2019;s share of income&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;4,012&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,206&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Foreign currency translation adjustments&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(1,895&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(2,250&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;Conversion to short term loan&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-132"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,665&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;Balance as at December 31&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;31,772&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;30,029&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0pt"&gt;&lt;b&gt;Summary financial
data for investees, not adjusted for the percentage ownership held by the Company&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -28.35pt; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;(a)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Summary information on financial position&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;


&lt;p style="margin: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Equity&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Rate of&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Current&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Non-&lt;br/&gt;
current&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Current&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Non-&lt;br/&gt;
current&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;attributable to&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;the owners of the&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Company&#x2019;s&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Surplus&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;costs and&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Other&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Carrying&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;amount of&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;ownership&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;assets&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;assets&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;assets&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Company&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;share&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;adjustments&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;investment&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;%&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="42" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;2023&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt; width: 10%"&gt;Ellomay Luzon Energy&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;50&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;309&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;62,735&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;63,044&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(344&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-133"&gt;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(344&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;62,700&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;31,350&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,388&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(966&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;31,772&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Ellomay Luzon Energy&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;50&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;72&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;63,722&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;63,794&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(5,329&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-134"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(5,329&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;58,464&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;29,232&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,927&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1,130&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;30,029&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -43.65pt; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;(b)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Summary information on operating results&lt;/td&gt;&lt;/tr&gt;
                                                                                                                                                     &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -43.65pt; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Rate of ownership&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;as of December&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Income&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;for the year&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Company&#x2019;s&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;share&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Elimination of interest on loan from related party&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Other&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;adjustments&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Company&#x2019;s share&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;of income of investee&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;%&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;2023&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 28%; text-align: left; padding-bottom: 4pt; padding-left: 1.6pt"&gt;Ellomay Luzon Energy&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;50&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;8,807&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;4,404&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;308&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(392&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;4,320&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 1.6pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-left: 1.6pt"&gt;2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; padding-left: 1.6pt"&gt;Ellomay Luzon Energy&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;50&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(61&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(31&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,475&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(238&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,206&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43.65pt; text-align: justify; text-indent: -43.65pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;B.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Pumped Storage Projects &lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&lt;b&gt;Pumped-storage
project in the Manara Cliff in Israel (&#x201c;Manara PSP&#x201d;) -&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Ellomay Pumped Storage (2014) Ltd. (&#x201c;Ellomay
PS&#x201d;), in which the Company directly and indirectly owns 83.333% (with the remaining 16.667% held by Ampa Ltd. (&#x201c;Ampa&#x201d;)),
received a conditional license for the Manara PSP from the Israeli Minister of Energy and Infrastructures (the &#x201c;Minister&#x201d;)
for the construction of a pumped storage plant in the Manara Cliff with a capacity of 156 MW (the &#x201c;Conditional License&#x201d;).
The Conditional License permits Ellomay PS to construct the Manara PSP and includes several conditions precedent to the entitlement of
Ellomay PS to receive an electricity production license.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company and its affiliates did not
pay any consideration upon the acquisition of the rights in the Manara PSP and undertook to pay certain consideration upon the fulfillment
of certain conditions and milestones. As of December 31, 2023, the Company paid an amount of approximately NIS 24,000 thousand (approximately
&#x20ac;6,000 thousand) on account of the consideration upon the acquisition and may be required, if certain conditions and milestones are
met (which conditions and milestones have not currently been met), to pay certain parties additional amounts (including interest), which
in the aggregate are not expected to exceed an amount of approximately NIS 6,400 thousand (approximately &#x20ac;1,600 thousand).&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In February 2023, the trustees of the
entity that sold the rights in the Manara PSP to the Company filed a petition with the Israeli court requesting the following: (1) payment
of NIS 1,500 thousand (approximately &#x20ac;374 thousand) in connection with a claimed debt of a third party, and (2) payment of linkage
and interest differences in an amount of approximately NIS 672 thousand (approximately &#x20ac;168 thousand) with respect to an amount that
was already paid to the seller and to Electra, claiming that the payment was delayed due to disagreements between the seller and Electra
and missing approvals. Based on the parties&#x2019; agreement, a mediation process is ongoing. In light of the preliminary stage of the
proceedings and based on the advice of the Company&#x2019;s legal counsel, it is too early to estimate the outcome of the mediation process
and the legal proceedings.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Conditional License was originally
valid for a period of seventy-two (72) months commencing from the date of its approval by the Minister, subject to compliance by Ellomay
PS with the milestones set forth therein and subject to the other provisions set forth therein (including financial closing, provision
of guarantees and construction of the pumped storage hydro power plant). According to applicable law, the 72 months validity period may
be extended for additional periods of 12 months each if required and subject to the Minister&#x2019;s approval at such time. Such extensions
may result in forfeiture of the license guarantee which value currently amounts to approximately NIS 4,100 thousand (approximately &#x20ac;1,000
thousand). The guarantee amount is linked to the USD and is reduced over time upon fulfillment of certain interim project milestones.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;On December 31, 2020, Ellomay PS received
the conditional tariff approval for the project from the Israeli Electricity Authority that regulates the tariffs and formulas for purchasing
energy from a pumped storage manufacturer connected to the transmission network for a period of 20 years beginning on the date of receipt
of the permanent production license. The conditional tariff became effective following financial closing in February 2021.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&lt;i&gt;Manara PSP Project Finance&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;On February 11,
2021, the Manara PSP Project Finance reached financial closing. The Manara PSP Project Finance is provided by a consortium of Israeli
banks and institutional investors, arranged and led by Mizrahi-Tefahot Bank Ltd. As of the date of the financial closing, the Manara PSP
Project Finance was in the aggregate amount of approximately NIS 1.27 billion (approximately &#x20ac;0.317 billion). This aggregate amount
is linked to a synthetic composite index comprising a weighted average of the indices and currencies applicable to the Manara PSP&#x2019;s
construction costs (the &#x201c;Project Index&#x201d;).&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;As of December
31, 2023, the Manara PSP Project Finance (including reevaluation linkage to the Project Index) amounts to approximately NIS 1.4 billion
(approximately &#x20ac;0.349 billion).&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;The owners of
Ellomay PS undertook to provide, and provided, aggregate equity and shareholder&#x2019;s loans financing to the project of NIS 353 million
(approximately &#x20ac;94.1 million), pro rata to their holdings in the Manara PSP, linked to the Project Index. Due to this indexation,
additional shareholders&#x2019; loans were provided by the shareholders pro rata to their respective holdings in Manara PSP. In March 2022
and March 2023, such additional amounts were approximately NIS 11.5 million (approximately &#x20ac;3.2 million) and approximately NIS 17.5
million (approximately &#x20ac;4.7 million), respectively. An additional amount of approximately NIS 10 million (approximately &#x20ac;2.5
million) was provided following the balance sheet date, on March 2024.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;As of December
31, 2023, the financing provided by the owners of Manara PSP (not including the aforementioned indexation payment in March 2024) amounted
to approximately NIS 382,000 thousand (approximately &#x20ac;95,000 thousand).&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;Ellomay and Ampa
Investments Ltd. (&#x201c;Ampa&#x201d;), which indirectly owns 16.667% of Ellomay PS, provided certain sponsor support undertakings towards
the lenders commensurate with the size and complexity of the project and the length of the construction period, including a standby equity
guarantee in the aggregate amount of approximately NIS 12,500 thousand (approximately &#x20ac;3,331 thousand), pro rata to their holdings
in the Manara PSP.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;This standby
equity guarantee is linked to the Israeli CPI and adjusted to the Project Index. As of December 31, 2023, the standby equity guarantee,
including linkage, amounts to NIS 13,475 thousand (approximately &#x20ac;3,400 thousand). Ellomay and Ampa also provided corporate guarantees
in an amount similar to the amount of the standby equity guarantee.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;In August 2021,
the Israeli Electricity Authority issued a clarification letter relating to the method of calculation of certain dynamic benefits applicable
to all pumped storage projects in Israel. The owners of the Manara PSP currently estimate that if the updates to the method of calculation
will be implemented, the new calculation may reduce the cover ratios of the Manara PSP during the commercial operation period by up to
5 basis points. In order to mitigate such potential future effect, the owners
of the Manara PSP agreed to provide the lenders with certain undertakings to inject additional equity to the Manara PSP in certain scenarios,
subject to a cap which is currently estimated by the owners of the Manara PSP to be approximately NIS 46,000 thousand (approximately &#x20ac;11,500
thousand).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"&gt;&lt;b&gt;&#160;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"&gt;&lt;i&gt;Manara PSP EPC
Agreement&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;In February 2021,
Ellomay PS executed the EPC agreement for the construction of the Manara PSP (the &#x201c;Manara PSP EPC Agreement&#x201d;), under a &#x201c;turnkey&#x201d;
contract with Electra Infrastructure Ltd. (&#x201c;Electra Infrastructure&#x201d;), one of Israel&#x2019;s largest construction companies.
The aggregate consideration payable to Electra Infrastructure under the Manara PSP EPC Agreement is expected to be approximately NIS 1.13
billion excluding indexation (approximately &#x20ac;280 million). The majority of this amount is linked to the actual change in the Israel
Residential Construction Index (&#x201c;IRC&#x201d;). A small portion of the price is denominated in Euros. Under the Manara PSP EPC Agreement,
Voith Hydro, the world&#x2019;s leading manufacturer of hydroelectric turbines, was nominated as the main subcontractor that will provide
the electro-mechanical equipment to the Manara PSP.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"&gt;&lt;i&gt;Manara PSP O&amp;amp;M Agreement&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;Simultaneously
with the execution of the Manara PSP EPC Agreement, Ellomay PS also executed an O&amp;amp;M agreement (the &#x201c;Manara PSP O&amp;amp;M Agreement&#x201d;),
with Mekorot Israel National Water Co. (&#x201c;Mekorot&#x201d;), the Israeli national water company (which is fully owned by the Israeli
Government), Voith Hydro and Verbund Hydro, one of the largest hydroelectric companies in Europe with extensive expertise in the operation
of hydroelectric power plants (collectively, the &#x201c;Manara PSP O&amp;amp;M Contractors&#x201d;). The Manara PSP O&amp;amp;M Agreement provides
that the Manara PSP O&amp;amp;M Contractors will be involved in the construction process through a mobilization period of 48 months and that
O&amp;amp;M services will be provided for a twenty-year period, during which Mekorot, Voith Hydro and Verbund will provide O&amp;amp;M services
for the initial three years of commercial operation, and Mekorot providing O&amp;amp;M services exclusively for the remaining 17 year period.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;Notice to commence
the construction works was issued to Electra Infrastructure in April 2021. The Construction period of the Manara PSP was originally expected
to be 62.5 months.&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"&gt;&lt;i&gt;Impact of War in Israel&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;Due to the Iron
Swords War, which has also expanded into a security conflict in the northern region, operations construction works at the Manara site
were halted. The planning works, the construction of the equipment off site, including the electro-mechanical equipment and the arrival
of the equipment in Israel continue as usual. The Electricity Authority granted a ten-month extension to the regulatory milestones and
the duration of the general license. As part of the standards supporting financing, there is protection for the senior debt (principal
and interest) and the developer&#x2019;s expenses, subject to the approval of the Electricity Authority on the subject. At this stage the company
cannot quantify the impact on the timing of the construction of the project. The Company cannot predict at this stage the duration and
scope of the Iron Swords War or its effect on the Company.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;

&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;C.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Development of PV Projects in Italy &lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&lt;b&gt;Framework
Agreement&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;In December 2019,
Ellomay Luxembourg executed a Framework Agreement (the &#x201c;Framework Agreement&#x201d;), with an established and experienced European
developer. Pursuant to the Framework Agreement, the developer will provide Ellomay Luxembourg with development services with respect to
photovoltaic greenfield projects in Italy in the scope of 350 MW with the aim of reaching an aggregate Ready to Build (&#x201c;RtB&#x201d;)
authorized capacity of at least 265 MW over a forty-one month period. The Framework Agreement provides that the developer will offer all
projects identified during the term of the Framework Agreement exclusively to Ellomay Luxembourg and that, with respect to each project
acquired by Ellomay Luxembourg, the developer will be entitled to provide development services until it reaches the RtB status.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;The parties agreed
on a development budget including a monthly development service consideration, to be paid to the developer and all other payments for
the tasks required to bring the projects to a RtB. In addition, Ellomay Luxembourg undertook to pay a success fee to the developer with
respect to each project that achieves a RtB status.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;Currently development
is progressing as planned. In April 2021, the Framework Agreement was amended and the target of reaching an aggregate RtB authorized capacity
of at least 265 MW was increased to 365 MW.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;In May 2023,
a notice to proceed was issued to the EPC contractor with respect to the first two projects, &lt;span style="background-color: white"&gt;Ellomay
Solar Italy One SRL (14.8 MW) and Ellomay Solar Italy Two SRL (4.95 MW), located in the &lt;/span&gt;Lazio Region&lt;span style="background-color: white"&gt;,
Italy. The PV Plant owned by Ellomay Solar Italy Two SRL was connected to the grid in February 2024 and the PV Plant owned by Ellomay
Solar Italy One is expected to be connected to the grid during the second quarter of 2024. Several other projects, held by the Company&#x2019;s
wholly-owned subsidiaries, Ellomay Solar Italy Four SRL (15.06 MW), Ellomay Solar Italy Five SRL (87.2 MW), Ellomay Solar Italy Seven
SRL (54.77 MW), Ellomay Solar Italy Nine SRL (8 MW ) and Ellomay Solar Italy Ten SRL (18 MW), which are developing PV plants in the Lazio
Region, Italy, have reached RtB status.&lt;/span&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;

&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;The Company capitalizes
expenses in connection with such projects once RtB status is reached.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;In November 2019,
Ellomay Luxembourg executed a Framework Agreement with a developer with the aim of reaching an aggregate authorized capacity of at least
250 MW over a three-year period. In connection with the execution of this agreement, during 2020 Ellomay Luxembourg paid the developer
advance payments in the aggregate amount of approximately &#x20ac;1,554 thousand. As the target aggregate capacity was not achieved, in
August 2023 the advance payment including interest in the aggregate amount of &#x20ac;1,921 thousand was refunded.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"&gt;&lt;b&gt;Composition of
Advances on account of investments&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 76%; text-align: left; padding-bottom: 4pt"&gt;On account of development of PV projects in Italy&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;898&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;2,328&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;D.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Subsidiaries -&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;1.&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Biogas Plants in the Netherlands&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white"&gt;The Company owns three Waste-to-Energy
(specifically Gasification and Bio-Gas (anaerobic digestion)) projects in the Netherlands.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&lt;span style="text-decoration:underline"&gt;Groen Goor
Anaerobic Digestion Project- &lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;Groen Gas Goor
B.V. (&#x201c;Groen Goor&#x201d;), a project company operating an anaerobic digestion plant, with a green gas production capacity of approximately
375 Nm3/h, in Goor, the Netherlands (the &#x201c;Groen Goor Plant&#x201d;). The Groen Goor Plant commenced operations in November 2017.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&lt;span style="text-decoration:underline"&gt;Groen Gas
Oude-Tonge Anaerobic Digestion Project-&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;Groen Gas Oude-Tonge
B.V. (&#x201c;Groen Gas Oude-Tonge&#x201d;) a project company operating an anaerobic digestion plant, with a green gas production capacity
of approximately 475 Nm3/h, in Oude-Tonge, the Netherlands (the &#x201c;Oude-Tonge Plant&#x201d;). The Oude-Tonge Plant commenced operations
in June 2018.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&lt;span style="text-decoration:underline"&gt;Groen Gas
Gelderland Anaerobic Digestion Project -&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;On December 1,
2020, the Company, through its wholly-owned subsidiary, Ellomay Luxembourg, acquired all issued and outstanding shares of Groen Gas Gelderland
B.V. (&#x201c;. (&#x201c;GG Gelderland&#x201d;) a project company operating an anaerobic digestion plant, with a green gas production capacity
of approximately 7.5 million Nm3 per year, in Gelderland, the Netherlands The actual production capacity of the plant is approximately
9.5 million Nm3 per year.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&lt;span style="text-decoration:underline"&gt;Assessment
of recoverable amount&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;During 2023, the Company assessed the
recoverable amount of its Biogas plants in the Netherlands in light of operating losses suffered by these projects in recent years and
lower results than forecasted for 2023. The examination was conducted based on the net consideration (net of expected estimated indemnification)
included in a binding offer received for the sale of the Biogas plants. The examination concluded that the fair value (net of transaction
costs) of each of the plants is higher than the carrying value of such plant and therefore there is no need for an impairment provision.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;2.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;PV Projects in Spain&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;b&gt;The Talasol PV Plant &lt;/b&gt;&#x2013;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company indirectly owns 51% of the
share capital of Talasol Solar S.L.U (&#x201c;Talasol&#x201d;), which owns a photovoltaic plant with a peak capacity of 300 MW in the municipality
of Talav&#xe1;n, C&#xe1;ceres, Spain. The purchase price originally paid by the Company during 2017 for 100% of Talasol&#x2019;s shares
was &#x20ac;10 million.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The construction cost of the Talasol PV
Plant based on the engineering, procurement &amp;amp; construction agreement entered into by Talsol and METKA EGN Limited (&#x201c;METKA&#160;EGN&#x201d;)
was &#x20ac;192.5 million. The works under this agreement includes also a 400 kV step-up substation, the high voltage interconnection line
to the point of connection to the grid and performance of two years of O&amp;amp;M services.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In June 2018, Talasol executed a financial
power swap in respect of approximately 80% of the output of the Talasol PV Plant for a period of 10 years (the &#x201c;Talasol PPA&#x201d;)
whose accounting treatment is according to cash flow hedge.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The power produced by the Talasol PV Plant
is sold by Talasol in the open market for the current market power price and the Talasol PPA is expected to hedge the risks associated
with fluctuating electricity market prices by allowing Talasol to secure a certain level of income for the power production included under
the Talasol PPA. The Talasol PPA became effective in March 2019.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;On April 17, 2019, the Company, through
its wholly owned subsidiary Ellomay Luxembourg, executed a Credit Facilities Assignment and Sale and Purchase of Shares Agreement (the
&#x201c;Talasol SPA&#x201d;), with GSE 3 UK Limited and Fond-ICO Infraestructuras II, FICC (together, the &#x201c;Talasol Partners&#x201d;),
pursuant to which it agreed to sell to each of the Talasol Partners 24.5% of its holdings in Talasol. The transactions contemplated under
the Talasol SPA were consummated in April 2019. The aggregate purchase price paid by the Talasol Partners, in the amount of approximately
&#x20ac;16.1 million, represented 49% of the amounts withdrawn and interests accrued from and by Talasol PV Plant&#x2019;s financing as of
the closing date of the Talasol SPA (approximately &#x20ac;4.9 million), plus a payment for 49% of Talasol&#x2019;s shares (approximately
&#x20ac;4.9 million) plus a premium of approximately &#x20ac;6.1 million. Of such aggregate purchase price, the payment of &#x20ac;1.4 million
was deferred until the achievement of a preliminary acceptance certificate (PAC) under the EPC agreement of the Talasol PV Plant. Following
the achievement of PAC on January 27, 2021, the deferred payment amount of &#x20ac;1.4 million was received by Ellomay Luxembourg.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;As the Company directs the operations
of Talasol and the rights granted to the Talasol Partners are minority protective rights, these changes in the Company&#x2019;s ownership
interest in Talasol did not result in loss of control and were accounted for as equity transactions. The Company therefore recognized
in equity an amount of approximately &#x20ac;6.1 million, less associated expenses in the amount of approximately &#x20ac;0.7 million on the
date of the Talasol SPA.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Talasol PV Plant reached mechanical
completion in September 2020 and was connected to the electricity grid and electricity production commenced at the end of December 2020.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In December 2021, Talasol entered into
a New Facilities Agreement in the aggregate amount of &#x20ac;175 million with European institutional lenders (the &#x201c;Talasol New Facilities
Agreement&#x201d;). Financial closing of the Talasol New Facilities Agreement was achieved in January 2022 (see Note 11).&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The uses of the Talasol New Financing
amount were as follows: (1) prepayment of the outstanding &#x20ac;121 million amount of the Talasol Previous Financing; (2) deposit of &#x20ac;6.9
million in Talasol&#x2019;s bank account as a debt service fund; (3) deposit of &#x20ac;10 million in Talasol&#x2019;s bank account as security
for a letter of credit to the Talasol PPA provider; (4) unwinding of the interest rate SWAP entered into in connection with the Previous
Financing in an amount of &#x20ac;3.29 million; (5) transaction costs in an amount of approximately &#x20ac;3 million; and (6) a special dividend
to Talasol&#x2019;s shareholders in an amount of approximately &#x20ac;31 million.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;b&gt;The Ellomay Solar Project &lt;i&gt;-&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Ellomay Solar S.L.U. (&#x201c;Ellomay Solar&#x201d;),
wholly owned by Ellomay Luxembourg, owns a photovoltaic plant with an installed capacity of 28 MW in the municipality of Talav&#xe1;n,
C&#xe1;ceres, Spain (the &#x201c;Ellomay Solar PV Plant&#x201d;). On February 26, 2021, Ellomay Solar entered into an engineering, procurement
&amp;amp; construction agreement in connection with the Ellomay Solar PV Plant (the &#x201c;EPC Agreement&#x201d;) with METKA EGN Spain S.L.U.,
a 100% indirect subsidiary of MYTILINEOS S.A., under the Renewables &amp;amp; Storage Development Business Unit. The EPC Agreement provides
a fixed and lump-sum amount of &#x20ac;15.82 million, for the complete execution and performance of the works defined in the EPC Agreement.
The works include the engineering, procurement and construction of the Ellomay Solar PV Plant and the ancillary facilities for injecting
power into the grid and performance of two years of O&amp;amp;M services.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In June 24, 2022, the Ellomay Solar PV
Plant was connected to the electricity grid and commenced production of electricity.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0.25in"&gt;&lt;b&gt;Regulatory update&lt;/b&gt; &#x2013;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0.25in"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Spanish Royal Decree-Law 17/2021 of
September 14, 2021, (&#x201c;RDL 17/2021&#x201d;), which entered into force on September 16, 2021, established the reduction of returns
on the electricity generating activity of Spanish production facilities that do not emit greenhouse gases accomplished through payments
of a portion of the revenues by the production facilities to the Spanish government). RDL 17/2021 was extended several times and was in
effect until December 31, 2023. This reduction and payments were recorded as part of the operating expenses of the relevant facilities.
RDL 17/2021 did not apply to the portion of the revenues produced by Talasol that is subject to a fixed price under the Talasol PPA Producers
likely to be affected by the reduction were required to submit to REE a responsible statement and supporting documentation on the energy
covered by contracting instruments.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;3.&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Israeli Service Concession project&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company indirectly owns a photovoltaic
site with fixed technology and a nominal capacity of approximately 9 MWp in Talmei Yosef, Israel (the &#x201c;Talmei Yosef Plant&#x201d;),
which was connected to the grid in November 2013. The Talmei Yosef Plant is primarily financed by an Israeli consortium led by Israel
Discount Bank.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;

&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Talmei Yosef entered into a service concession
agreement with the IEC for the construction of a PV plant in Talmei Yosef. In Under the terms of the agreement with the IEC, Talmei Yosef
operates the PV plant for a period of 20 years as from November 15, 2013. The IEC provides the Company a guaranteed tariff for the electricity
produced of NIS 0.9631 per KWp linked to the Israeli CPI as of October 2011. The service concession agreement does not contain a renewal
option.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In accordance with IFRIC 12, the portion
of the consideration received from the IEC that reflects the Company&#x2019;s right to charge for services it provides in connection with
the operation of the Talmei Yosef PV Plant, is classified as an intangible asset. The intangible asset was recorded at the acquisition
in the amount of &#x20ac;5,505 thousand that will be amortized until the end of the service concession agreement with the IEC with Talmei
Yosef.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;i&gt;Impact of War in Israel&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Talmei Yosef Plant is located in southern
Israel, in proximity to the Gaza Strip and is therefore exposed to missile and mortar bomb attacks. The Talmei Yosef Plant was not impacted
by the Iron Swords War other than a temporary halt in operations which did not have a material impact on the Company&#x2019;s results.
On December 31, 2023, the Company executed an agreement to sell its holdings in the Talmei Yosef PV Plant. For more information, including
the potential impact of the Iron Swords War on the consummation of the sale, see Note 23.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; background-color: white"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;4.&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Texas USA PV&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;During 2023, the Company entered into
a Joint Development Agreement with a project development company experienced in the development of energy projects, site acquisition,
capital markets and commercial management, and commenced development of PV projects in the vicinity of Dallas, Texas. Each of the PV projects
under development is expected to have a capacity of approximately 10-14 MW.&lt;/p&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;There are currently two projects under
construction with an aggregate capacity of approximately 27.36 MW (the Fairfield and Malakoff projects), and two projects that are ready
for construction with an aggregate capacity of approximately 21.5 MW (the Mexia and Talco projects). All four projects are expected to
be connected to the grid during 2024.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The aggregate cost of development and
construction of these projects is expected to be approximately &#x20ac;58 million, and the projects are expected to be funded partially
through a tax equity arrangement covering approximately 36% of the expenses.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;During 2023, the Company entered into
a Joint Development Agreement with a project development company experienced in the development of energy projects, site acquisition,
capital markets and commercial management, and commenced development of PV projects in the vicinity of Dallas, Texas. Each of the PV projects
under development is expected to have a capacity of approximately 10-14 MW. There are currently two projects under construction with an
aggregate capacity of approximately 27.36 MW (the Fairfield and Malakoff projects), and two projects that are ready for construction with
an aggregate capacity of approximately 21.5 MW (the Mexia and Talco projects). All four projects are expected to be connected to the grid
during 2024.&lt;/p&gt;</ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory>
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    <ello:DisclosureOfDetailedInformationAboutCompositionExplanatory contextRef="c0" id="ixv-26036">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;b&gt;December 31&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;b&gt;2023&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;b&gt;2022&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;b&gt;&#x20ac; in thousands&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%"&gt;Investment in shares&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;31,772&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;30,029&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;Long-term loans&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-126"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,665&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;31,772&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;32,694&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;Current maturities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-127"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,665&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;Investment in equity accounted investee&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;31,772&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;30,029&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:DisclosureOfDetailedInformationAboutCompositionExplanatory>
    <ello:InvestmentInShares contextRef="c2" decimals="-3" id="ixv-65139" unitRef="eur">31772000</ello:InvestmentInShares>
    <ello:InvestmentInShares contextRef="c3" decimals="-3" id="ixv-65140" unitRef="eur">30029000</ello:InvestmentInShares>
    <ello:LongTermInvestment contextRef="c3" decimals="-3" id="ixv-65141" unitRef="eur">2665000</ello:LongTermInvestment>
    <ello:CompositionOfInvestments contextRef="c2" decimals="-3" id="ixv-65142" unitRef="eur">31772000</ello:CompositionOfInvestments>
    <ello:CompositionOfInvestments contextRef="c3" decimals="-3" id="ixv-65143" unitRef="eur">32694000</ello:CompositionOfInvestments>
    <ifrs-full:CurrentInvestments contextRef="c3" decimals="-3" id="ixv-65144" unitRef="eur">2665000</ifrs-full:CurrentInvestments>
    <ifrs-full:InvestmentAccountedForUsingEquityMethod contextRef="c2" decimals="-3" id="ixv-65145" unitRef="eur">31772000</ifrs-full:InvestmentAccountedForUsingEquityMethod>
    <ifrs-full:InvestmentAccountedForUsingEquityMethod contextRef="c3" decimals="-3" id="ixv-65146" unitRef="eur">30029000</ifrs-full:InvestmentAccountedForUsingEquityMethod>
    <ello:DisclosureOfDetailedInformationAboutChangesInInvestmentsExplanatory contextRef="c0" id="ixv-26155">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%"&gt;Balance as at January 1&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;b&gt;30,029&lt;/b&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;34,029&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Long term loans extended&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-128"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;128&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Dividend distribution&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(374&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-129"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Repayment of long-term loans&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-130"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(149&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Reevaluation in connection with long term loans&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-131"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(270&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;The Company&#x2019;s share of income&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;4,012&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,206&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Foreign currency translation adjustments&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(1,895&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(2,250&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;Conversion to short term loan&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-132"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,665&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;Balance as at December 31&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;31,772&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;30,029&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"&gt;&#160;&lt;/p&gt;</ello:DisclosureOfDetailedInformationAboutChangesInInvestmentsExplanatory>
    <ello:TotalInvestmentComposition contextRef="c3" decimals="-3" id="ixv-65147" unitRef="eur">30029000</ello:TotalInvestmentComposition>
    <ello:TotalInvestmentComposition contextRef="c40" decimals="-3" id="ixv-65148" unitRef="eur">34029000</ello:TotalInvestmentComposition>
    <ello:LongTermLoansExtended contextRef="c4" decimals="-3" id="ixv-65149" unitRef="eur">128000</ello:LongTermLoansExtended>
    <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="c0" decimals="-3" id="ixv-65150" unitRef="eur">374000</ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent>
    <ello:RepaymentOfLongTermLoans contextRef="c4" decimals="-3" id="ixv-65151" unitRef="eur">-149000</ello:RepaymentOfLongTermLoans>
    <ello:InterestOnLongTermLoans contextRef="c4" decimals="-3" id="ixv-65152" unitRef="eur">-270000</ello:InterestOnLongTermLoans>
    <ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod contextRef="c0" decimals="-3" id="ixv-65153" unitRef="eur">4012000</ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod>
    <ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod contextRef="c4" decimals="-3" id="ixv-65154" unitRef="eur">1206000</ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod>
    <ello:ForeignCurrencyTranslationAdjustments contextRef="c0" decimals="-3" id="ixv-65155" unitRef="eur">-1895000</ello:ForeignCurrencyTranslationAdjustments>
    <ello:ForeignCurrencyTranslationAdjustments contextRef="c4" decimals="-3" id="ixv-65156" unitRef="eur">-2250000</ello:ForeignCurrencyTranslationAdjustments>
    <ello:ConversionToShortTermLoan contextRef="c4" decimals="-3" id="ixv-65157" unitRef="eur">-2665000</ello:ConversionToShortTermLoan>
    <ello:TotalInvestmentComposition contextRef="c2" decimals="-3" id="ixv-65158" unitRef="eur">31772000</ello:TotalInvestmentComposition>
    <ello:TotalInvestmentComposition contextRef="c3" decimals="-3" id="ixv-65159" unitRef="eur">30029000</ello:TotalInvestmentComposition>
    <ello:DisclosureOfDetailedInformationAboutFinancialPositionForInvestmentsExplanatory contextRef="c0" id="ixv-26326">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Equity&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Rate of&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Current&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Non-&lt;br/&gt;
current&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Current&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Non-&lt;br/&gt;
current&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;attributable to&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;the owners of the&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Company&#x2019;s&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Surplus&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;costs and&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Other&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Carrying&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;amount of&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;ownership&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;assets&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;assets&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;assets&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Company&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;share&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;adjustments&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;investment&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;%&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="42" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;2023&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt; width: 10%"&gt;Ellomay Luzon Energy&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;50&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;309&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;62,735&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;63,044&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(344&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-133"&gt;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(344&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;62,700&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;31,350&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,388&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(966&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;31,772&lt;/td&gt;&lt;td style="width: 0.5%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Ellomay Luzon Energy&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;50&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;72&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;63,722&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;63,794&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(5,329&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-134"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(5,329&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;58,464&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;29,232&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,927&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1,130&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;30,029&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:DisclosureOfDetailedInformationAboutFinancialPositionForInvestmentsExplanatory>
    <ifrs-full:ProportionOfOwnershipInterestInAssociate
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    <ifrs-full:EquityAttributableToOwnersOfParent
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    <ello:DisclosureOfDetailedInformationAboutInformationOnOperatingResultsExplanatory contextRef="c0" id="ixv-26727">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Rate of ownership&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;as of December&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Income&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;for the year&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Company&#x2019;s&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;share&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Elimination of interest on loan from related party&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Other&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;adjustments&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;Company&#x2019;s share&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"&gt;&lt;b&gt;of income of investee&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;%&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;2023&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 28%; text-align: left; padding-bottom: 4pt; padding-left: 1.6pt"&gt;Ellomay Luzon Energy&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;50&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;8,807&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;4,404&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;308&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(392&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;4,320&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 1.6pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-left: 1.6pt"&gt;2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; padding-left: 1.6pt"&gt;Ellomay Luzon Energy&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;50&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(61&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(31&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,475&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(238&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,206&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43.65pt; text-align: justify; text-indent: -43.65pt"&gt;&#160;&lt;/p&gt;</ello:DisclosureOfDetailedInformationAboutInformationOnOperatingResultsExplanatory>
    <ifrs-full:ProportionOfOwnershipInterestInAssociate
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    <ello:EliminationOfInterestOnLoanFromRelatedParty
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      decimals="-3"
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      contextRef="c147"
      decimals="-3"
      id="ixv-65186"
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    <ifrs-full:ProportionOfOwnershipInterestInAssociate
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      decimals="2"
      id="ixv-65188"
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    <ifrs-full:Revenue
      contextRef="c148"
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    <ifrs-full:ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod
      contextRef="c148"
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    <ello:EliminationOfInterestOnLoanFromRelatedParty
      contextRef="c148"
      decimals="-3"
      id="ixv-65191"
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    <ello:OtherAdjustments
      contextRef="c148"
      decimals="-3"
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    <ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod
      contextRef="c148"
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    <ello:PercentageOfAcquireCooperativesHoldings
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    <ello:PercentageOfAcquireCooperativesHoldings
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      decimals="5"
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    <ello:AmountOfAcquisition
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      decimals="-3"
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    <ello:AmountOfAcquisition
      contextRef="c116"
      decimals="-3"
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    <ello:RemainingAmountOfAcquisition contextRef="c0" decimals="-3" id="ixv-65198" unitRef="ils">6400000</ello:RemainingAmountOfAcquisition>
    <ello:RemainingAmountOfAcquisition contextRef="c0" decimals="-3" id="ixv-65199" unitRef="eur">1600000</ello:RemainingAmountOfAcquisition>
    <ello:ClaimsAmountPayment
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      decimals="-3"
      id="ixv-65200"
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    <ello:ClaimsAmountPayment
      contextRef="c117"
      decimals="-3"
      id="ixv-65201"
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    <ello:ClaimsInterestPaymentAmount
      contextRef="c117"
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    <ello:ClaimsInterestPaymentAmount
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      decimals="-3"
      id="ixv-65203"
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    <ello:AmountForfeitureOfLicenseGuarantee contextRef="c0" decimals="-3" id="ixv-65204" unitRef="ils">4100000</ello:AmountForfeitureOfLicenseGuarantee>
    <ello:AmountForfeitureOfLicenseGuarantee contextRef="c0" decimals="-3" id="ixv-65205" unitRef="eur">1000000</ello:AmountForfeitureOfLicenseGuarantee>
    <ello:TransmissionNetworkPeriod contextRef="c118" id="ixv-65206">P20Y</ello:TransmissionNetworkPeriod>
    <ello:AmountFinancialAgreementGuaranteesByDirectShare
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      decimals="-7"
      id="ixv-65207"
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    <ello:AmountFinancialAgreementGuaranteesByDirectShare
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      decimals="-6"
      id="ixv-65208"
      unitRef="eur">317000000</ello:AmountFinancialAgreementGuaranteesByDirectShare>
    <ifrs-full:FinanceCosts
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      id="ixv-65209"
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    <ifrs-full:FinanceCosts
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      decimals="-6"
      id="ixv-65210"
      unitRef="eur">349000000</ifrs-full:FinanceCosts>
    <ifrs-full:Borrowings contextRef="c2" decimals="-6" id="ixv-65211" unitRef="ils">353000000</ifrs-full:Borrowings>
    <ifrs-full:Borrowings
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      unitRef="ils">11500000</ello:AmountOfShareholdersFinancingCommitments>
    <ello:AmountOfShareholdersFinancingCommitments
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    <ello:AmountOfShareholdersFinancingCommitments
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    <ello:AmountOfShareholdersFinancingCommitments
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    <ello:AmountOfShareholdersFinancingCommitments
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    <ello:StandbyEquityGuarantee contextRef="c2" decimals="-3" id="ixv-65224" unitRef="ils">13475000</ello:StandbyEquityGuarantee>
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      decimals="-3"
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      unitRef="eur">1921000</ello:AdvancePayment>
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  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 76%; text-align: left; padding-bottom: 4pt"&gt;On account of development of PV projects in Italy&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;898&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;2,328&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&#160;&lt;/p&gt;</ello:DisclosureOfDetailedInformationAboutCompositionOfAdvancesOnAccountOfInvestmentsExplanatory>
    <ello:CompositionOfAdvancesOnAccountOfInvestments
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      id="ixv-65233"
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    <ello:CompositionOfAdvancesOnAccountOfInvestments
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      decimals="-3"
      id="ixv-65234"
      unitRef="eur">2328000</ello:CompositionOfAdvancesOnAccountOfInvestments>
    <ello:GreenGasProductionCapacityLevel
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      decimals="-5"
      id="ixv-65235"
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      id="ixv-65238"
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    <ello:ProjectFinancingAggregateAmount
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    <ifrs-full:EquityInterestsOfAcquirer
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      id="ixv-65246"
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    <ello:PaymentPercentage
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      id="ixv-65247"
      unitRef="pure">0.49</ello:PaymentPercentage>
    <ifrs-full:EquityInterestsOfAcquirer
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    <ello:RecognizedAmountInEquity
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    <ifrs-full:Equity
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    <ello:BorrowingsTransactionCosts
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      decimals="-6"
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    <ifrs-full:ProportionOfOwnershipInterestInSubsidiary
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      decimals="2"
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    <ello:FixedAndLumpsumAmount
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      decimals="-4"
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    <ello:ElectricityPerShare
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      decimals="4"
      id="ixv-65264"
      unitRef="ilsPershares">0.9631</ello:ElectricityPerShare>
    <ifrs-full:ContractualCommitmentsForAcquisitionOfIntangibleAssets contextRef="c2" decimals="-3" id="ixv-65265" unitRef="eur">5505000</ifrs-full:ContractualCommitmentsForAcquisitionOfIntangibleAssets>
    <ifrs-full:InvestmentPropertyUnderConstructionOrDevelopment contextRef="c2" decimals="-6" id="ixv-65266" unitRef="eur">58000000</ifrs-full:InvestmentPropertyUnderConstructionOrDevelopment>
    <ello:ExpensesPercentage contextRef="c2" decimals="2" id="ixv-65267" unitRef="pure">0.36</ello:ExpensesPercentage>
    <ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory contextRef="c0" id="ixv-27499">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 7 - Trade and Other Receivables&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Current Assets - Trade and Other receivables:&lt;/td&gt;&lt;td style="font-size: 1pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-size: 1pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-size: 1pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 76%; text-align: left"&gt;Government authorities&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;4,851&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,752&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Income receivable&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,013&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,062&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Interest receivable&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;221&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;125&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Advance tax payment&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,028&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;566&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Trade receivable&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;205&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;420&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Inventory&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,170&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,201&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Derivatives (see Note 21)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;275&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;273&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Loan to others&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;p style="margin: 0pt 0"&gt;1,246&lt;/p&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Prepaid expenses and other&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,983&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,033&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Current maturities of loans given to an equity accounted investee&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-135"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,665&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;11,992&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;12,097&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Non-current Assets - Long term receivables:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Prepaid expenses associated with long-term loans&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;9,265&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,417&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Annual rent deposits&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;656&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;290&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Loans to others&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;509&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;546&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Other&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;16&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;17&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;10,446&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;9,270&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory>
    <ello:DisclosureOfTradeAndOtherReceivablesTableTextBlock contextRef="c0" id="ixv-27503">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Current Assets - Trade and Other receivables:&lt;/td&gt;&lt;td style="font-size: 1pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-size: 1pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-size: 1pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 76%; text-align: left"&gt;Government authorities&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;4,851&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,752&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Income receivable&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,013&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,062&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Interest receivable&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;221&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;125&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Advance tax payment&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,028&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;566&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Trade receivable&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;205&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;420&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Inventory&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,170&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,201&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Derivatives (see Note 21)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;275&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;273&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Loan to others&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;p style="margin: 0pt 0"&gt;1,246&lt;/p&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Prepaid expenses and other&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,983&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,033&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Current maturities of loans given to an equity accounted investee&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-135"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,665&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;11,992&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;12,097&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Non-current Assets - Long term receivables:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Prepaid expenses associated with long-term loans&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;9,265&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,417&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Annual rent deposits&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;656&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;290&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Loans to others&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;509&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;546&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Other&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;16&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;17&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;10,446&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;9,270&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:DisclosureOfTradeAndOtherReceivablesTableTextBlock>
    <ello:GovernmentAuthoritiesCurrentReceivables contextRef="c2" decimals="-3" id="ixv-65268" unitRef="eur">4851000</ello:GovernmentAuthoritiesCurrentReceivables>
    <ello:GovernmentAuthoritiesCurrentReceivables contextRef="c3" decimals="-3" id="ixv-65269" unitRef="eur">3752000</ello:GovernmentAuthoritiesCurrentReceivables>
    <ello:CurrentIncomeReceivable contextRef="c2" decimals="-3" id="ixv-65270" unitRef="eur">1013000</ello:CurrentIncomeReceivable>
    <ello:CurrentIncomeReceivable contextRef="c3" decimals="-3" id="ixv-65271" unitRef="eur">1062000</ello:CurrentIncomeReceivable>
    <ifrs-full:CurrentInterestReceivable contextRef="c2" decimals="-3" id="ixv-65272" unitRef="eur">221000</ifrs-full:CurrentInterestReceivable>
    <ifrs-full:CurrentInterestReceivable contextRef="c3" decimals="-3" id="ixv-65273" unitRef="eur">125000</ifrs-full:CurrentInterestReceivable>
    <ifrs-full:CurrentTaxAssetsCurrent contextRef="c2" decimals="-3" id="ixv-65274" unitRef="eur">1028000</ifrs-full:CurrentTaxAssetsCurrent>
    <ifrs-full:CurrentTaxAssetsCurrent contextRef="c3" decimals="-3" id="ixv-65275" unitRef="eur">566000</ifrs-full:CurrentTaxAssetsCurrent>
    <ifrs-full:CurrentTradeReceivables contextRef="c2" decimals="-3" id="ixv-65276" unitRef="eur">205000</ifrs-full:CurrentTradeReceivables>
    <ifrs-full:CurrentTradeReceivables contextRef="c3" decimals="-3" id="ixv-65277" unitRef="eur">420000</ifrs-full:CurrentTradeReceivables>
    <ifrs-full:Inventories contextRef="c2" decimals="-3" id="ixv-65278" unitRef="eur">1170000</ifrs-full:Inventories>
    <ifrs-full:Inventories contextRef="c3" decimals="-3" id="ixv-65279" unitRef="eur">1201000</ifrs-full:Inventories>
    <ifrs-full:CurrentDerivativeFinancialAssets contextRef="c2" decimals="-3" id="ixv-65280" unitRef="eur">275000</ifrs-full:CurrentDerivativeFinancialAssets>
    <ifrs-full:CurrentDerivativeFinancialAssets contextRef="c3" decimals="-3" id="ixv-65281" unitRef="eur">273000</ifrs-full:CurrentDerivativeFinancialAssets>
    <ello:LoanToOthersinDollars contextRef="c2" decimals="-3" id="ixv-65282" unitRef="eur">1246000</ello:LoanToOthersinDollars>
    <ifrs-full:CurrentPrepaidExpenses contextRef="c2" decimals="-3" id="ixv-65283" unitRef="eur">1983000</ifrs-full:CurrentPrepaidExpenses>
    <ifrs-full:CurrentPrepaidExpenses contextRef="c3" decimals="-3" id="ixv-65284" unitRef="eur">2033000</ifrs-full:CurrentPrepaidExpenses>
    <ello:CurrentMaturitiesOfLoansGivenToAnEquityAccountedInvestee contextRef="c3" decimals="-3" id="ixv-65285" unitRef="eur">2665000</ello:CurrentMaturitiesOfLoansGivenToAnEquityAccountedInvestee>
    <ifrs-full:TradeAndOtherCurrentReceivables contextRef="c2" decimals="-3" id="ixv-65286" unitRef="eur">11992000</ifrs-full:TradeAndOtherCurrentReceivables>
    <ifrs-full:TradeAndOtherCurrentReceivables contextRef="c3" decimals="-3" id="ixv-65287" unitRef="eur">12097000</ifrs-full:TradeAndOtherCurrentReceivables>
    <ello:PrepaidExpensesAssociatedWithLongTermLoans contextRef="c2" decimals="-3" id="ixv-65288" unitRef="eur">9265000</ello:PrepaidExpensesAssociatedWithLongTermLoans>
    <ello:PrepaidExpensesAssociatedWithLongTermLoans contextRef="c3" decimals="-3" id="ixv-65289" unitRef="eur">8417000</ello:PrepaidExpensesAssociatedWithLongTermLoans>
    <ifrs-full:NoncurrentReceivablesFromRentalOfProperties contextRef="c2" decimals="-3" id="ixv-65290" unitRef="eur">656000</ifrs-full:NoncurrentReceivablesFromRentalOfProperties>
    <ifrs-full:NoncurrentReceivablesFromRentalOfProperties contextRef="c3" decimals="-3" id="ixv-65291" unitRef="eur">290000</ifrs-full:NoncurrentReceivablesFromRentalOfProperties>
    <ello:LoansToOthers contextRef="c2" decimals="-3" id="ixv-65292" unitRef="eur">509000</ello:LoansToOthers>
    <ello:LoansToOthers contextRef="c3" decimals="-3" id="ixv-65293" unitRef="eur">546000</ello:LoansToOthers>
    <ifrs-full:OtherNoncurrentReceivables contextRef="c2" decimals="-3" id="ixv-65294" unitRef="eur">16000</ifrs-full:OtherNoncurrentReceivables>
    <ifrs-full:OtherNoncurrentReceivables contextRef="c3" decimals="-3" id="ixv-65295" unitRef="eur">17000</ifrs-full:OtherNoncurrentReceivables>
    <ifrs-full:NoncurrentReceivables contextRef="c2" decimals="-3" id="ixv-65296" unitRef="eur">10446000</ifrs-full:NoncurrentReceivables>
    <ifrs-full:NoncurrentReceivables contextRef="c3" decimals="-3" id="ixv-65297" unitRef="eur">9270000</ifrs-full:NoncurrentReceivables>
    <ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory contextRef="c0" id="ixv-27727">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 8 - Fixed Assets&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Office&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Photovoltaic&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Pumped&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Biogas&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;furniture and&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;plants&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;storage&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;plants&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;equipment&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Cost&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 40%; text-align: left"&gt;Balance as at January 1, 2023&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;266,062&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;102,472&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;36,355&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;224&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;405,113&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;19,762&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;42,178&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,792&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;27&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;63,759&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Transfer to disposal groups held for sale&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-136"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-137"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-138"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(18&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(18&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Effect of changes in exchange rates&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(108&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(6,019&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-139"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-140"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(6,127&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Balance as at December 31, 2023&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;285,716&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;138,631&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;38,147&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;233&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;462,727&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Balance as at January 1, 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;251,027&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;78,892&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;35,192&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;190&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;365,301&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;15,036&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;29,124&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,163&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;33&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;45,356&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Effect of changes in exchange rates&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,544&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-141"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,544&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Balance as at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;266,062&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;102,472&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;36,355&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;224&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;405,113&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Depreciation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Balance as at January 1, 2023&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;29,530&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-142"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;9,652&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;175&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;39,357&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Depreciation for the year&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;12,736&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-143"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;2,644&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;25&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;15,405&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Transfer to disposal groups held for sale&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-144"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-145"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-146"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(18&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(18&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Effect of changes in exchange rates&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-147"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-148"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-149"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Balance as at December 31, 2023&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;42,266&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-150"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;12,296&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;183&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;54,745&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Balance as at January 1, 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;17,297&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-151"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,952&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;155&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;24,404&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Depreciation for the year&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;12,233&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-152"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,700&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;21&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,954&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Effect of changes in exchange rates&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-153"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-154"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-155"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Balance as at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;29,530&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-156"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;9,652&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;175&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;39,357&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Carrying amounts&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;As at January 1, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;233,730&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;78,892&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;28,240&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;35&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;340,897&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;As at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;236,532&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;102,472&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;26,703&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;49&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;365,756&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;As at December 31, 2023&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;243,450&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;138,631&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;25,851&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;50&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;407,982&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;b&gt;Investment
in Photovoltaic Plants&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;Presented hereunder are data regarding
the Company&#x2019;s investments in photovoltaic plants as at December 31, 2023:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;PV Plant Title&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Original nominal &lt;br/&gt;
capacity&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Connection to grid/Other&lt;br/&gt;
 status&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;Cost included in book value as at&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;December 31, 2023&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 30%; text-align: left"&gt;&#x201c;Ellomay Spain &#x2013; Rinconada II&#x201d;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 28%; text-align: center; padding-left: 5.4pt"&gt;2.275 MWP&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 28%; text-align: center; padding-left: 5.4pt"&gt;June 2010&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;5,509&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Rodr&#xed;guez I&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;1.675 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;November 2011&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,662&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Rodr&#xed;guez II&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;2.691 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;November 2011&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,631&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Fuente Librilla&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;1.248 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;June 2011&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,212&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Talasol&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;300 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;January 2021&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;220,061&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Ellomay Solar&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;28 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;July 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;18,074&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Solar Italy One&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;14.8 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Under construction&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;12,056&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Solar Italy Two&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;4.95 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Under construction&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,069&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Solar Italy Four&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;15.6 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;553&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Solar Italy Five&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;87.2 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,535&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Solar Italy Seven&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;54.77 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,852&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Solar Italy Nine&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;8 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;464&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Solar Italy Ten&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;18 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,071&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Fairfield Solar&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;13.44 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,100&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Mexia Solar I&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;5.6 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;808&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Mexia Solar II&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;5.6 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;341&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Malakoff Solar I&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;6.96 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;578&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt; &#x201c;Malakoff Solar II&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;6.96 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;351&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Talco Solar&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;10.3 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;789&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"&gt;The Company
commences capitalization of expenses when it is probable that the Company will enjoy future economic benefits from the projects. The Company
commenced capitalization of expenses from the aforementioned projects that have reached Ready to Build status as follows:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"&gt;&lt;span style="text-decoration:underline"&gt;In Texas
USA&lt;/span&gt; (i) the &lt;span style="background-color: white"&gt;Fairfield Solar LLC Project &lt;/span&gt;since February 2023, (ii) the Mexia Solar I LLC
and Mexia Solar II LLC Projects since July 2023, (iii) the Malakoff I Solar LLC and Malakoff II Solar LLC projects since April 2023, and
(iv) the Talco Solar LLC project since September 2023.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"&gt;&lt;span style="text-decoration:underline"&gt;In Italy&lt;/span&gt;
(i) Ellomay Solar Italy Seven &lt;span style="background-color: white"&gt;SRL&lt;/span&gt; since March 2023, and (ii) Ellomay Solar Italy Nine &lt;span style="background-color: white"&gt;SRL&lt;/span&gt;
since May 2023. For additional information see Notes 6C and 6D.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;b&gt;Investment
in Pumped Storage Project&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;Commencing the fourth quarter of 2020,
as it is probable that the Company will enjoy future economic benefits in connection with the Manara PSP (see Note 6B), expenses in connection
with the Manara PSP are capitalized as assets.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;b&gt;Security&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;As of December 31, 2023 fixed assets
of the Company&#x2019;s subsidiaries with a carrying amount of &#x20ac;339,821 thousand are pledged as security for bank loans (see Note
11 regarding loans and borrowings with respect to terms and repayment dates).&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;b&gt;Capitalized borrowing costs&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;In the reporting period borrowing costs
in the amount of &#x20ac;6,996 thousand were capitalized to qualifying assets for the year 2023. Those expenses are mostly related to the
construction of the Manara PSP.&lt;/p&gt;</ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory>
    <ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory contextRef="c0" id="ixv-27731">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Office&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Photovoltaic&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Pumped&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Biogas&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;furniture and&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;plants&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;storage&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;plants&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;equipment&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Cost&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 40%; text-align: left"&gt;Balance as at January 1, 2023&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;266,062&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;102,472&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;36,355&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;224&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;405,113&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;19,762&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;42,178&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,792&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;27&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;63,759&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Transfer to disposal groups held for sale&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-136"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-137"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-138"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(18&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(18&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Effect of changes in exchange rates&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(108&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(6,019&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-139"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-140"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(6,127&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Balance as at December 31, 2023&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;285,716&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;138,631&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;38,147&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;233&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;462,727&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Balance as at January 1, 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;251,027&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;78,892&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;35,192&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;190&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;365,301&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;15,036&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;29,124&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,163&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;33&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;45,356&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Effect of changes in exchange rates&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,544&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-141"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,544&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Balance as at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;266,062&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;102,472&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;36,355&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;224&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;405,113&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Depreciation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Balance as at January 1, 2023&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;29,530&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-142"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;9,652&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;175&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;39,357&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Depreciation for the year&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;12,736&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-143"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;2,644&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;25&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;15,405&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Transfer to disposal groups held for sale&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-144"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-145"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-146"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(18&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(18&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Effect of changes in exchange rates&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-147"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-148"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-149"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Balance as at December 31, 2023&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;42,266&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-150"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;12,296&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;183&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;54,745&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Balance as at January 1, 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;17,297&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-151"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,952&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;155&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;24,404&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Depreciation for the year&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;12,233&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-152"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,700&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;21&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,954&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Effect of changes in exchange rates&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-153"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-154"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-155"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Balance as at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;29,530&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-156"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;9,652&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;175&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;39,357&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Carrying amounts&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;As at January 1, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;233,730&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;78,892&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;28,240&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;35&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;340,897&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;As at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;236,532&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;102,472&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;26,703&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;49&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;365,756&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;As at December 31, 2023&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;243,450&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;138,631&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;25,851&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;50&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;407,982&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&#160;&lt;/p&gt;</ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory>
    <ifrs-full:PropertyPlantAndEquipment
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      id="ixv-65298"
      unitRef="eur">266062000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
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      id="ixv-65299"
      unitRef="eur">102472000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
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      id="ixv-65300"
      unitRef="eur">36355000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c156"
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      id="ixv-65301"
      unitRef="eur">224000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
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      decimals="-3"
      id="ixv-65302"
      unitRef="eur">405113000</ifrs-full:PropertyPlantAndEquipment>
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      contextRef="c158"
      decimals="-3"
      id="ixv-65303"
      unitRef="eur">19762000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
    <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment
      contextRef="c159"
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      id="ixv-65304"
      unitRef="eur">42178000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
    <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment
      contextRef="c160"
      decimals="-3"
      id="ixv-65305"
      unitRef="eur">1792000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
    <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment
      contextRef="c161"
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      id="ixv-65306"
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    <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment
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      id="ixv-65307"
      unitRef="eur">63759000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
    <ifrs-full:DisposalsPropertyPlantAndEquipment
      contextRef="c161"
      decimals="-3"
      id="ixv-65308"
      unitRef="eur">18000</ifrs-full:DisposalsPropertyPlantAndEquipment>
    <ifrs-full:DisposalsPropertyPlantAndEquipment
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      id="ixv-65309"
      unitRef="eur">18000</ifrs-full:DisposalsPropertyPlantAndEquipment>
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      decimals="-3"
      id="ixv-65310"
      unitRef="eur">-108000</ifrs-full:ChangesInPropertyPlantAndEquipment>
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      id="ixv-65311"
      unitRef="eur">-6019000</ifrs-full:ChangesInPropertyPlantAndEquipment>
    <ifrs-full:ChangesInPropertyPlantAndEquipment
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      decimals="-3"
      id="ixv-65312"
      unitRef="eur">-6127000</ifrs-full:ChangesInPropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c163"
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      id="ixv-65313"
      unitRef="eur">285716000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
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      id="ixv-65314"
      unitRef="eur">138631000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
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      id="ixv-65315"
      unitRef="eur">38147000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
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      id="ixv-65316"
      unitRef="eur">233000</ifrs-full:PropertyPlantAndEquipment>
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      id="ixv-65317"
      unitRef="eur">462727000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
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      id="ixv-65318"
      unitRef="eur">251027000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c169"
      decimals="-3"
      id="ixv-65319"
      unitRef="eur">78892000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c170"
      decimals="-3"
      id="ixv-65320"
      unitRef="eur">35192000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c171"
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      id="ixv-65321"
      unitRef="eur">190000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
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      id="ixv-65322"
      unitRef="eur">365301000</ifrs-full:PropertyPlantAndEquipment>
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      id="ixv-65323"
      unitRef="eur">15036000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
    <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment
      contextRef="c174"
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      id="ixv-65324"
      unitRef="eur">29124000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
    <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment
      contextRef="c175"
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      id="ixv-65325"
      unitRef="eur">1163000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
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      contextRef="c176"
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      id="ixv-65326"
      unitRef="eur">33000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
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      contextRef="c177"
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      id="ixv-65327"
      unitRef="eur">45356000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
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      decimals="-3"
      id="ixv-65329"
      unitRef="eur">-5544000</ifrs-full:ChangesInPropertyPlantAndEquipment>
    <ifrs-full:ChangesInPropertyPlantAndEquipment
      contextRef="c176"
      decimals="-3"
      id="ixv-65330"
      unitRef="eur">1000</ifrs-full:ChangesInPropertyPlantAndEquipment>
    <ifrs-full:ChangesInPropertyPlantAndEquipment
      contextRef="c177"
      decimals="-3"
      id="ixv-65331"
      unitRef="eur">-5544000</ifrs-full:ChangesInPropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c153"
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      id="ixv-65332"
      unitRef="eur">266062000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
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      id="ixv-65333"
      unitRef="eur">102472000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
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      decimals="-3"
      id="ixv-65334"
      unitRef="eur">36355000</ifrs-full:PropertyPlantAndEquipment>
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      id="ixv-65335"
      unitRef="eur">224000</ifrs-full:PropertyPlantAndEquipment>
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      decimals="-3"
      id="ixv-65336"
      unitRef="eur">405113000</ifrs-full:PropertyPlantAndEquipment>
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      id="ixv-65337"
      unitRef="eur">29530000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
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      unitRef="eur">9652000</ifrs-full:PropertyPlantAndEquipment>
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      contextRef="c181"
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      unitRef="eur">175000</ifrs-full:PropertyPlantAndEquipment>
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      id="ixv-65340"
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      decimals="-3"
      id="ixv-65341"
      unitRef="eur">12736000</ifrs-full:DepreciationPropertyPlantAndEquipment>
    <ifrs-full:DepreciationPropertyPlantAndEquipment
      contextRef="c185"
      decimals="-3"
      id="ixv-65342"
      unitRef="eur">2644000</ifrs-full:DepreciationPropertyPlantAndEquipment>
    <ifrs-full:DepreciationPropertyPlantAndEquipment
      contextRef="c186"
      decimals="-3"
      id="ixv-65343"
      unitRef="eur">25000</ifrs-full:DepreciationPropertyPlantAndEquipment>
    <ifrs-full:DepreciationPropertyPlantAndEquipment
      contextRef="c187"
      decimals="-3"
      id="ixv-65344"
      unitRef="eur">15405000</ifrs-full:DepreciationPropertyPlantAndEquipment>
    <ifrs-full:DisposalsPropertyPlantAndEquipment
      contextRef="c186"
      decimals="-3"
      id="ixv-65345"
      unitRef="eur">18000</ifrs-full:DisposalsPropertyPlantAndEquipment>
    <ifrs-full:DisposalsPropertyPlantAndEquipment
      contextRef="c187"
      decimals="-3"
      id="ixv-65346"
      unitRef="eur">18000</ifrs-full:DisposalsPropertyPlantAndEquipment>
    <ifrs-full:ChangesInPropertyPlantAndEquipment
      contextRef="c186"
      decimals="-3"
      id="ixv-65347"
      unitRef="eur">1000</ifrs-full:ChangesInPropertyPlantAndEquipment>
    <ifrs-full:ChangesInPropertyPlantAndEquipment
      contextRef="c187"
      decimals="-3"
      id="ixv-65348"
      unitRef="eur">1000</ifrs-full:ChangesInPropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c188"
      decimals="-3"
      id="ixv-65349"
      unitRef="eur">42266000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c190"
      decimals="-3"
      id="ixv-65350"
      unitRef="eur">12296000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c191"
      decimals="-3"
      id="ixv-65351"
      unitRef="eur">183000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c192"
      decimals="-3"
      id="ixv-65352"
      unitRef="eur">54745000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c193"
      decimals="-3"
      id="ixv-65353"
      unitRef="eur">17297000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c195"
      decimals="-3"
      id="ixv-65354"
      unitRef="eur">6952000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c196"
      decimals="-3"
      id="ixv-65355"
      unitRef="eur">155000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c197"
      decimals="-3"
      id="ixv-65356"
      unitRef="eur">24404000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:DepreciationPropertyPlantAndEquipment
      contextRef="c198"
      decimals="-3"
      id="ixv-65357"
      unitRef="eur">12233000</ifrs-full:DepreciationPropertyPlantAndEquipment>
    <ifrs-full:DepreciationPropertyPlantAndEquipment
      contextRef="c200"
      decimals="-3"
      id="ixv-65358"
      unitRef="eur">2700000</ifrs-full:DepreciationPropertyPlantAndEquipment>
    <ifrs-full:DepreciationPropertyPlantAndEquipment
      contextRef="c201"
      decimals="-3"
      id="ixv-65359"
      unitRef="eur">21000</ifrs-full:DepreciationPropertyPlantAndEquipment>
    <ifrs-full:DepreciationPropertyPlantAndEquipment
      contextRef="c202"
      decimals="-3"
      id="ixv-65360"
      unitRef="eur">14954000</ifrs-full:DepreciationPropertyPlantAndEquipment>
    <ifrs-full:ChangesInPropertyPlantAndEquipment
      contextRef="c201"
      decimals="-3"
      id="ixv-65361"
      unitRef="eur">-1000</ifrs-full:ChangesInPropertyPlantAndEquipment>
    <ifrs-full:ChangesInPropertyPlantAndEquipment
      contextRef="c202"
      decimals="-3"
      id="ixv-65362"
      unitRef="eur">-1000</ifrs-full:ChangesInPropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c178"
      decimals="-3"
      id="ixv-65363"
      unitRef="eur">29530000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c180"
      decimals="-3"
      id="ixv-65364"
      unitRef="eur">9652000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c181"
      decimals="-3"
      id="ixv-65365"
      unitRef="eur">175000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c182"
      decimals="-3"
      id="ixv-65366"
      unitRef="eur">39357000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c203"
      decimals="-3"
      id="ixv-65367"
      unitRef="eur">233730000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c204"
      decimals="-3"
      id="ixv-65368"
      unitRef="eur">78892000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c205"
      decimals="-3"
      id="ixv-65369"
      unitRef="eur">28240000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c206"
      decimals="-3"
      id="ixv-65370"
      unitRef="eur">35000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c207"
      decimals="-3"
      id="ixv-65371"
      unitRef="eur">340897000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c208"
      decimals="-3"
      id="ixv-65372"
      unitRef="eur">236532000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c209"
      decimals="-3"
      id="ixv-65373"
      unitRef="eur">102472000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c210"
      decimals="-3"
      id="ixv-65374"
      unitRef="eur">26703000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c211"
      decimals="-3"
      id="ixv-65375"
      unitRef="eur">49000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c212"
      decimals="-3"
      id="ixv-65376"
      unitRef="eur">365756000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c213"
      decimals="-3"
      id="ixv-65377"
      unitRef="eur">243450000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c214"
      decimals="-3"
      id="ixv-65378"
      unitRef="eur">138631000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c215"
      decimals="-3"
      id="ixv-65379"
      unitRef="eur">25851000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c216"
      decimals="-3"
      id="ixv-65380"
      unitRef="eur">50000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c217"
      decimals="-3"
      id="ixv-65381"
      unitRef="eur">407982000</ifrs-full:PropertyPlantAndEquipment>
    <ello:DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory contextRef="c0" id="ixv-65382">Presented hereunder are data regarding
the Company&#x2019;s investments in photovoltaic plants as at December 31, 2023:&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;PV Plant Title&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Original nominal &lt;br/&gt;
capacity&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Connection to grid/Other&lt;br/&gt;
 status&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;Cost included in book value as at&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;December 31, 2023&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 30%; text-align: left"&gt;&#x201c;Ellomay Spain &#x2013; Rinconada II&#x201d;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 28%; text-align: center; padding-left: 5.4pt"&gt;2.275 MWP&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 28%; text-align: center; padding-left: 5.4pt"&gt;June 2010&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;5,509&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Rodr&#xed;guez I&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;1.675 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;November 2011&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,662&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Rodr&#xed;guez II&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;2.691 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;November 2011&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,631&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Fuente Librilla&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;1.248 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;June 2011&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,212&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Talasol&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;300 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;January 2021&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;220,061&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Ellomay Solar&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;28 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;July 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;18,074&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Solar Italy One&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;14.8 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Under construction&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;12,056&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Solar Italy Two&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;4.95 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Under construction&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,069&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Solar Italy Four&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;15.6 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;553&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Solar Italy Five&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;87.2 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,535&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Solar Italy Seven&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;54.77 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,852&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Solar Italy Nine&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;8 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;464&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Solar Italy Ten&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;18 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,071&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Fairfield Solar&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;13.44 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,100&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Mexia Solar I&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;5.6 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;808&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Mexia Solar II&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;5.6 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;341&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Malakoff Solar I&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;6.96 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;578&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt; &#x201c;Malakoff Solar II&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;6.96 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;351&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#x201c;Talco Solar&#x201d;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;10.3 MWP&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;Ready to Build status&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;789&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory>
    <ello:OriginalNominalCapacityPlant contextRef="c218" decimals="3" id="ixv-65383" unitRef="mw">2.275</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c218" decimals="3" id="ixv-65384" unitRef="mw">2.275</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c218" id="ixv-65385">June 2010</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c219"
      decimals="-3"
      id="ixv-65386"
      unitRef="eur">5509000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c220" decimals="3" id="ixv-65387" unitRef="mw">1.675</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c220" decimals="3" id="ixv-65388" unitRef="mw">1.675</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c220" id="ixv-65389">November 2011</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c221"
      decimals="-3"
      id="ixv-65390"
      unitRef="eur">3662000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c222" decimals="3" id="ixv-65391" unitRef="mw">2.691</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c222" decimals="3" id="ixv-65392" unitRef="mw">2.691</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c222" id="ixv-65393">November 2011</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c223"
      decimals="-3"
      id="ixv-65394"
      unitRef="eur">6631000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c224" decimals="3" id="ixv-65395" unitRef="mw">1.248</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c224" decimals="3" id="ixv-65396" unitRef="mw">1.248</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c224" id="ixv-65397">June 2011</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c225"
      decimals="-3"
      id="ixv-65398"
      unitRef="eur">3212000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c226" decimals="0" id="ixv-65399" unitRef="mw">300</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c226" decimals="0" id="ixv-65400" unitRef="mw">300</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c226" id="ixv-65401">January 2021</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c227"
      decimals="-3"
      id="ixv-65402"
      unitRef="eur">220061000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c228" decimals="0" id="ixv-65403" unitRef="mw">28</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c228" decimals="0" id="ixv-65404" unitRef="mw">28</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c228" id="ixv-65405">July 2022</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c229"
      decimals="-3"
      id="ixv-65406"
      unitRef="eur">18074000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c230" decimals="1" id="ixv-65407" unitRef="mw">14.8</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c230" decimals="1" id="ixv-65408" unitRef="mw">14.8</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c230" id="ixv-65409">Under construction</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c231"
      decimals="-3"
      id="ixv-65410"
      unitRef="eur">12056000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c232" decimals="2" id="ixv-65411" unitRef="mw">4.95</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c232" decimals="2" id="ixv-65412" unitRef="mw">4.95</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c232" id="ixv-65413">Under construction</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c233"
      decimals="-3"
      id="ixv-65414"
      unitRef="eur">4069000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c234" decimals="1" id="ixv-65415" unitRef="mw">15.6</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c234" decimals="1" id="ixv-65416" unitRef="mw">15.6</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c234" id="ixv-65417">Ready to Build status</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c235"
      decimals="-3"
      id="ixv-65418"
      unitRef="eur">553000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c236" decimals="1" id="ixv-65419" unitRef="mw">87.2</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c236" decimals="1" id="ixv-65420" unitRef="mw">87.2</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c236" id="ixv-65421">Ready to Build status</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c237"
      decimals="-3"
      id="ixv-65422"
      unitRef="eur">4535000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c238" decimals="2" id="ixv-65423" unitRef="mw">54.77</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c238" decimals="2" id="ixv-65424" unitRef="mw">54.77</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c238" id="ixv-65425">Ready to Build status</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c239"
      decimals="-3"
      id="ixv-65426"
      unitRef="eur">1852000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c240" decimals="0" id="ixv-65427" unitRef="mw">8</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c240" decimals="0" id="ixv-65428" unitRef="mw">8</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c240" id="ixv-65429">Ready to Build status</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c241"
      decimals="-3"
      id="ixv-65430"
      unitRef="eur">464000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c242" decimals="0" id="ixv-65431" unitRef="mw">18</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c242" decimals="0" id="ixv-65432" unitRef="mw">18</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c242" id="ixv-65433">Ready to Build status</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c243"
      decimals="-3"
      id="ixv-65434"
      unitRef="eur">1071000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c244" decimals="2" id="ixv-65435" unitRef="mw">13.44</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c244" decimals="2" id="ixv-65436" unitRef="mw">13.44</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c244" id="ixv-65437">Ready to Build status</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c245"
      decimals="-3"
      id="ixv-65438"
      unitRef="eur">1100000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c246" decimals="1" id="ixv-65439" unitRef="mw">5.6</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c246" decimals="1" id="ixv-65440" unitRef="mw">5.6</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c246" id="ixv-65441">Ready to Build status</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c247"
      decimals="-3"
      id="ixv-65442"
      unitRef="eur">808000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c248" decimals="1" id="ixv-65443" unitRef="mw">5.6</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c248" decimals="1" id="ixv-65444" unitRef="mw">5.6</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c248" id="ixv-65445">Ready to Build status</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c249"
      decimals="-3"
      id="ixv-65446"
      unitRef="eur">341000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c250" decimals="2" id="ixv-65447" unitRef="mw">6.96</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c250" decimals="2" id="ixv-65448" unitRef="mw">6.96</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c250" id="ixv-65449">Ready to Build status</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c251"
      decimals="-3"
      id="ixv-65450"
      unitRef="eur">578000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c252" decimals="2" id="ixv-65451" unitRef="mw">6.96</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c252" decimals="2" id="ixv-65452" unitRef="mw">6.96</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c252" id="ixv-65453">Ready to Build status</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c253"
      decimals="-3"
      id="ixv-65454"
      unitRef="eur">351000</ello:CostIncludedInBookValue>
    <ello:OriginalNominalCapacityPlant contextRef="c254" decimals="1" id="ixv-65455" unitRef="mw">10.3</ello:OriginalNominalCapacityPlant>
    <ello:OriginalNominalCapacityPlant contextRef="c254" decimals="1" id="ixv-65456" unitRef="mw">10.3</ello:OriginalNominalCapacityPlant>
    <ello:ConnectionToGrid contextRef="c254" id="ixv-65457">Ready to Build status</ello:ConnectionToGrid>
    <ello:CostIncludedInBookValue
      contextRef="c255"
      decimals="-3"
      id="ixv-65458"
      unitRef="eur">789000</ello:CostIncludedInBookValue>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c152"
      decimals="-3"
      id="ixv-65459"
      unitRef="eur">339821000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:BorrowingCostsCapitalised contextRef="c0" decimals="-3" id="ixv-65460" unitRef="eur">6996000</ifrs-full:BorrowingCostsCapitalised>
    <ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory contextRef="c0" id="ixv-28729">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 9 - Other Payables&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left"&gt;Employees and payroll accruals&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;497&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;358&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Government authorities&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,602&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,426&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Deferred revenues&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,058&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,794&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Accrued expenses connected to Manara PSP&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;5,976&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,392&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Other accrued expenses&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,587&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;853&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Taxes on income&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;139&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;384&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;10,859&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;11,207&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory>
    <ello:DisclosureOfDetailedInformationAboutOtherPayablesExplanatory contextRef="c0" id="ixv-28734">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left"&gt;Employees and payroll accruals&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;497&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;358&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Government authorities&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,602&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,426&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Deferred revenues&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,058&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,794&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Accrued expenses connected to Manara PSP&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;5,976&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,392&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Other accrued expenses&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,587&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;853&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Taxes on income&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;139&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;384&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;10,859&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;11,207&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:DisclosureOfDetailedInformationAboutOtherPayablesExplanatory>
    <ello:EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent contextRef="c2" decimals="-3" id="ixv-65461" unitRef="eur">497000</ello:EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent>
    <ello:EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent contextRef="c3" decimals="-3" id="ixv-65462" unitRef="eur">358000</ello:EmployeesAndPayrollRelatedAgenciesLiabilitiesCurrent>
    <ello:CurrentPayableToGovernmentAuthorities contextRef="c2" decimals="-3" id="ixv-65463" unitRef="eur">1602000</ello:CurrentPayableToGovernmentAuthorities>
    <ello:CurrentPayableToGovernmentAuthorities contextRef="c3" decimals="-3" id="ixv-65464" unitRef="eur">1426000</ello:CurrentPayableToGovernmentAuthorities>
    <ello:DeferredRevenues contextRef="c2" decimals="-3" id="ixv-65465" unitRef="eur">1058000</ello:DeferredRevenues>
    <ello:DeferredRevenues contextRef="c3" decimals="-3" id="ixv-65466" unitRef="eur">1794000</ello:DeferredRevenues>
    <ello:AccruedExpensesConnectedToManaraPsp contextRef="c2" decimals="-3" id="ixv-65467" unitRef="eur">5976000</ello:AccruedExpensesConnectedToManaraPsp>
    <ello:AccruedExpensesConnectedToManaraPsp contextRef="c3" decimals="-3" id="ixv-65468" unitRef="eur">6392000</ello:AccruedExpensesConnectedToManaraPsp>
    <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="c2" decimals="-3" id="ixv-65469" unitRef="eur">1587000</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
    <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="c3" decimals="-3" id="ixv-65470" unitRef="eur">853000</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
    <ifrs-full:CurrentTaxLiabilitiesCurrent contextRef="c2" decimals="-3" id="ixv-65471" unitRef="eur">139000</ifrs-full:CurrentTaxLiabilitiesCurrent>
    <ifrs-full:CurrentTaxLiabilitiesCurrent contextRef="c3" decimals="-3" id="ixv-65472" unitRef="eur">384000</ifrs-full:CurrentTaxLiabilitiesCurrent>
    <ifrs-full:OtherCurrentPayables contextRef="c2" decimals="-3" id="ixv-65473" unitRef="eur">10859000</ifrs-full:OtherCurrentPayables>
    <ifrs-full:OtherCurrentPayables contextRef="c3" decimals="-3" id="ixv-65474" unitRef="eur">11207000</ifrs-full:OtherCurrentPayables>
    <ello:DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlock contextRef="c0" id="ixv-28828">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 10 - Current maturities and short term
bank loans&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;b&gt;Composed as follows:&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Linkage&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Interest rate&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;terms&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022 and 2023&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;%&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify; padding-bottom: 4pt; width: 31%"&gt;Current maturities of long term bank loans
    (refer to Note 11)&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: center; padding-bottom: 4pt; padding-left: 5.4pt; width: 28%"&gt;EURIBOR&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 15%; font-weight: bold; text-align: center"&gt;&lt;b&gt;2 - 6&lt;/b&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;3,022&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,261&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-157"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;&lt;b&gt;2.58 &#x2013; 3.03&lt;/b&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;6,762&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,463&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt"&gt;Consumer price index in Israel&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;b&gt;4.65&lt;/b&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-158"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,091&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;9,784&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;12,815&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Linkage&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Interest rate&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;terms&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022 and 2023&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: justify"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;%&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 31%; text-align: justify; padding-bottom: 4pt"&gt;Current maturities of
    other long term loans &lt;b&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; width: 28%; font-weight: bold; text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;EURIBOR&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 15%; font-weight: bold; text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-159"&gt;5.27-9.2&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;5,000&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;10,000&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.25in; text-align: left"&gt;(1)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Loans provided by the minority (49%) holders in Talasol.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ello:DisclosureOfCurrentMaturitiesAndShortTermBankLoanstextBlock>
    <ello:DisclodurOfCurrentMaturitiesAndShortTermBankLoansTableTextBlock contextRef="c0" id="ixv-28833">&lt;b&gt;Composed as follows:&lt;/b&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Linkage&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Interest rate&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;terms&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022 and 2023&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;%&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify; padding-bottom: 4pt; width: 31%"&gt;Current maturities of long term bank loans
    (refer to Note 11)&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: center; padding-bottom: 4pt; padding-left: 5.4pt; width: 28%"&gt;EURIBOR&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 15%; font-weight: bold; text-align: center"&gt;&lt;b&gt;2 - 6&lt;/b&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;3,022&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,261&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-157"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;&lt;b&gt;2.58 &#x2013; 3.03&lt;/b&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;6,762&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,463&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt"&gt;Consumer price index in Israel&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;b&gt;4.65&lt;/b&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-158"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,091&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;9,784&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;12,815&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Linkage&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Interest rate&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;terms&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022 and 2023&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: justify"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;%&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 31%; text-align: justify; padding-bottom: 4pt"&gt;Current maturities of
    other long term loans &lt;b&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; width: 28%; font-weight: bold; text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;EURIBOR&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 15%; font-weight: bold; text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-159"&gt;5.27-9.2&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;5,000&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;10,000&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.25in; text-align: left"&gt;(1)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Loans provided by the minority (49%) holders in Talasol.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ello:DisclodurOfCurrentMaturitiesAndShortTermBankLoansTableTextBlock>
    <ifrs-full:BorrowingsOriginalCurrency contextRef="c256" id="ixv-65475">EURIBOR</ifrs-full:BorrowingsOriginalCurrency>
    <ello:BorrowingInterestRate
      contextRef="c257"
      decimals="2"
      id="ixv-65476"
      unitRef="pure">0.02</ello:BorrowingInterestRate>
    <ello:BorrowingInterestRate
      contextRef="c258"
      decimals="2"
      id="ixv-65477"
      unitRef="pure">0.06</ello:BorrowingInterestRate>
    <ello:CurrentPortionOfLongTermBankLoans
      contextRef="c259"
      decimals="-3"
      id="ixv-65478"
      unitRef="eur">3022000</ello:CurrentPortionOfLongTermBankLoans>
    <ello:CurrentPortionOfLongTermBankLoans
      contextRef="c260"
      decimals="-3"
      id="ixv-65479"
      unitRef="eur">3261000</ello:CurrentPortionOfLongTermBankLoans>
    <ello:BorrowingInterestRate
      contextRef="c262"
      decimals="4"
      id="ixv-65480"
      unitRef="pure">0.0258</ello:BorrowingInterestRate>
    <ello:BorrowingInterestRate
      contextRef="c263"
      decimals="4"
      id="ixv-65481"
      unitRef="pure">0.0303</ello:BorrowingInterestRate>
    <ello:CurrentPortionOfLongTermBankLoans
      contextRef="c264"
      decimals="-3"
      id="ixv-65482"
      unitRef="eur">6762000</ello:CurrentPortionOfLongTermBankLoans>
    <ello:CurrentPortionOfLongTermBankLoans
      contextRef="c265"
      decimals="-3"
      id="ixv-65483"
      unitRef="eur">7463000</ello:CurrentPortionOfLongTermBankLoans>
    <ifrs-full:BorrowingsOriginalCurrency contextRef="c266" id="ixv-65484">Consumer price index in Israel</ifrs-full:BorrowingsOriginalCurrency>
    <ello:BorrowingInterestRate
      contextRef="c266"
      decimals="4"
      id="ixv-65485"
      unitRef="pure">0.0465</ello:BorrowingInterestRate>
    <ello:CurrentPortionOfLongTermBankLoans
      contextRef="c268"
      decimals="-3"
      id="ixv-65486"
      unitRef="eur">2091000</ello:CurrentPortionOfLongTermBankLoans>
    <ello:CurrentPortionOfLongTermBankLoans contextRef="c2" decimals="-3" id="ixv-65487" unitRef="eur">9784000</ello:CurrentPortionOfLongTermBankLoans>
    <ello:CurrentPortionOfLongTermBankLoans contextRef="c3" decimals="-3" id="ixv-65488" unitRef="eur">12815000</ello:CurrentPortionOfLongTermBankLoans>
    <ello:OtherLongTermBorrowingsOriginalCurrency contextRef="c256" id="ix_78_fact">EURIBOR</ello:OtherLongTermBorrowingsOriginalCurrency>
    <ello:OtherLongTermBorrowingsInterestRate
      contextRef="c257"
      decimals="4"
      id="ix_79_fact"
      unitRef="pure">0.0527</ello:OtherLongTermBorrowingsInterestRate>
    <ello:OtherLongTermBorrowingsInterestRate
      contextRef="c258"
      decimals="3"
      id="ix_80_fact"
      unitRef="pure">0.092</ello:OtherLongTermBorrowingsInterestRate>
    <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings
      contextRef="c259"
      decimals="-3"
      id="ix_81_fact"
      unitRef="eur">5000000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
    <ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings
      contextRef="c260"
      decimals="-3"
      id="ix_82_fact"
      unitRef="eur">10000000</ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings>
    <ello:MinorityPercentage contextRef="c0" decimals="2" id="ixv-65495" unitRef="pure">0.49</ello:MinorityPercentage>
    <ifrs-full:DisclosureOfBorrowingsExplanatory contextRef="c0" id="ixv-28999">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;Note 11 - Loans&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;A.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Loans details &lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"&gt;&lt;b&gt;Composed as follows:&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Linkage&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Interest rate&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;terms&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022 and 2023&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;Bank loans&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;%&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 31%; text-align: left; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 28%; font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;EURIBOR&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 15%; font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;2 - 6&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;21,132&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;23,918&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-160"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;2.58 - 3.03&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;156,748&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;164,212&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;Bank of Israel interest rate&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;4.35 - 9.1&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;5,509&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,986&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt"&gt;Consumer price index in Israel&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt"&gt;2.75 - 4.78&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;64,176&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;51,165&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;247,565&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;242,281&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.5in; padding-left: 0.5in"&gt;Current maturities&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;9,784&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;12,815&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.5in; padding-left: 0.5in"&gt;Long-term loans&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;237,781&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;229,466&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Linkage&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Interest rate&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;terms&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022 and 2023&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;Other long-term loans&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;%&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 31%; text-align: left; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 28%; font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;EURIBOR&lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 15%; font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;5.27-9.2&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;25,055&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;23,247&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;Consumer price index in Israel&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;7&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;5,806&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,857&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt"&gt;Fixed&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt"&gt;5 - 5.5&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;3,512&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,478&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;34,373&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;31,582&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.5in; padding-left: 0.5in"&gt;Current maturities&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;5,000&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;10,000&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.5in; padding-left: 0.5in"&gt;Other long-term loans&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;29,373&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;21,582&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.25in; text-align: left"&gt;(1)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Loans provided by the minority (49%) holders in Talasol.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"&gt;&lt;b&gt;Israel - Ellomay PS Loans&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -15.3pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 56.7pt"&gt;&lt;/td&gt;&lt;td style="width: 15.3pt; text-align: left"&gt;1.&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;The Company&#x2019;s
83.333% owned Israeli subsidiary promoting the Manara PSP, Ellomay PS, entered into a loan agreement with Ampa, the owner of the remaining
16.667% of its outstanding shares. The unpaid balance (principal and interest) of the loan is split into 2 separate loans, an interest-bearing
loan at an annual rate of 7% linked to the consumer price index (senior international debt), and a mezzanine loan (an internationally
inferior debt) bearing an annual interest rate of 5%. The maturity date of this loan starts from December 31, 2027. As of December 31,
2023, the amount of the loan is NIS 33,910 thousand (&#x20ac;8,452 thousand).&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 56.7pt"&gt;&lt;/td&gt;&lt;td style="width: 15.3pt"&gt;2.&lt;/td&gt;&lt;td style="text-align: justify"&gt;On February 11, 2021, the Manara PSP Project Finance achieved financial closing. The Manara PSP Project
Finance facilities are provided by a consortium of Israeli banks and institutional investors, arranged and led by Mizrahi-Tefahot Bank
Ltd. The Manara PSP Project Finance long-term facilities were originally in the aggregate amount of approximately NIS 1.27 billion (approximately
&#x20ac;338 million). This aggregate amount represents the real (non-indexed) value of the Long-Term Facilities as of the date of financial
closing. Such amount, as well as the standby facilities, is linked to a synthetic composite index comprising a weighted average of the
indices and currencies applicable to the Manara PSP&#x2019;s construction costs (the &#x201c;Project Index&#x201d;), on an annual basis during
the first 4 years of construction, and thereafter semi-annually until construction end. As a result of the linkage to the Project Index,
the long-term facilities amount increased in March 2022 and March 2023 by approximately NIS 40 million (approximately &#x20ac;10.6 million)
and approximately NIS 63 million (approximately &#x20ac;16.8 million), respectively.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;The Manara PSP
Project Finance facilities includes two Long-Term Facilities: (i) a Senior Secured A Tranche at a fixed rate of interest for each drawdown,
with base interest rate equal to the yield to maturity of Israeli treasury bonds with like duration of the drawn loan, plus a spread of
3.25% per-annum during the Construction Period of the Project and a spread of 2.40% per-annum from the Actual Completion Construction
Date. The Senior Secured Tranche is linked to the Israeli Consumer Price Index and is to be repaid over a period of 19.5 years from the
commercial operation date; and (ii) a Subordinated Secured B Tranche at a floating rate of interest, with the base interest being the
Bank of Israel rate, plus a spread of 4.35% per-annum during the construction period and a spread of 3.90% per-annum from the Actual Completion
Construction Date. The stated maturity of the Tranche B loan is one year less than the maturity of the Senior Secured Loan with a cash
sweep mechanism that shortens its maturity to approximately 12 years from the commercial operation date under the Base Case Financial
Model and the Manara PSP Project Finance also includes standby facilities (Tranche A and Tranche B).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;

&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;The Manara PSP
Project Finance includes customary terms in connection with early prepayment, acceleration of payments upon certain breaches and limitations
on distributions. The Manara PSP Project Finance also includes ancillary facilities VAT, Guarantees and Debt Service Reserve facilities
in an aggregate amount of approximately NIS 64 million (approximately &#x20ac;17.1 million).&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;The Manara PSP
Project Finance includes mandatory cash sweeps upon certain cover ratio and other events with respect to the Senior Secured Tranche, cash
sweep payments in connection with the Subordinated Secured Tranche as mentioned above and other lender protection mechanisms.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;In addition,
the Manara PSP Project Finance agreement permits the owners of the Manara PSP to drawdown a developers&#x2019; fee on the Actual Completion
Construction Date (as such term is defined in the Manara PSP Project loan agreements) of the Manara PSP, subject to availability of funding
in the Standby Facility at the time and provided the Average ADSCR at the time is not less than a ratio of 1.28.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;Ellomay and Ampa
provided certain sponsor support undertakings towards the lenders commensurate with the size and complexity of the project and the length
of the construction period, including a standby equity guarantee in the aggregate amount of approximately NIS 12.5 million (approximately
&#x20ac;3.3 million), pro rata to their holdings in the Manara PSP. This standby equity guarantee is linked monthly to the Israeli CPI and
adjusted (if applicable) in the same manner and timing as the Long-Term Facilities, as described above.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;As of December
31, 2023 a total aggregate amount of NIS 245,656 (&#x20ac;65,452 thousand) was drawn down under the Manara PSP Project Finance from the
Senior Secured Tranche (interest rate range between 2.75%-4.78% linked to the Israeli Consumer Price Index) and a total aggregate amount
of NIS 20,875 (&#x20ac;5,527 thousand) was drawn from the Subordinated Secured B Tranche (floating interest rate based on the Bank of Israel
Rate &#x2013; 9.1% as of December 31, 2023).&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;b&gt;The Netherland - Bio Gas
- Loans &lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -15.3pt"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 56.7pt"&gt;&lt;/td&gt;&lt;td style="width: 15.3pt; text-align: left"&gt;1.&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Groen Goor&lt;/b&gt; and Ellomay Luxembourg entered into a senior
project finance agreement in 2017 (the &#x201c;Goor Loan Agreement&#x201d;), with Co&#xf6;peratieve Rabobank U.A. (&#x201c;Rabobank&#x201d;),
that includes the following tranches: (i) two loans with principal amounts of &#x20ac;3,510 thousand (with a fixed interest rate of 3%
until the end of 2021 and with a fixed interest rate of 3.45% for the next five years) and &#x20ac;2,090 thousand, (with a fixed interest
rate of 2.5% until the end of March 2022 and then with a fixed interest rate of 2.65% until the end of March 2023 and with a fixed interest
rate of 6.05% until the end of March 2026), for a period of 12.25 years, repayable in equal monthly installments commencing three months
following the connection of the Goor Project&#x2019;s facility to the grid and (ii) an on-call credit facility of &#x20ac;370 thousand with
variable interest. The amount of &#x20ac;5,600 thousand was withdrawn in 2017 on account of these loans. In connection with the Goor Loan
Agreement, the following securities were provided to Rabobank: (i) pledge on the present and future rights arising from the feedstock
purchase agreement, the EPC agreement, the O&amp;amp;M agreement, the SDE subsidy, the various power and green gas purchase agreements, and
the green gas certification supply agreement, (ii) pledge on all present and future (a) receivables arising from business and trade,
and (b) stock and inventory including machinery and transport vehicles of Groen Goor, and (iii) all rights/claims of Groen Goor against
third parties existing at the time of the execution of the Loan Agreement, including rights from insurance agreements.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Groen Gas Oude-Tonge&lt;/b&gt; and Ellomay Luxembourg entered into a senior project finance agreement (the &#x201c;Oude Tonge Loan Agreement&#x201d;), with Rabobank, that includes the following tranches: (i) three loans with principal amounts of &#x20ac;3,150 thousand (with a fixed interest rate of 3.1% the end of June 2022 and with a fixed interest rate of 3.95% for the next three years), &#x20ac;1,540 thousand (with a fixed interest rate of 2.9% until the end of March 2023 and with a fixed interest rate of 5.15% for the next five years) and &#x20ac;160 thousand, (with a fixed interest rate of 3.4% until the end of March 2023 and with a fixed interest rate of 5.65% for the next five years), for a period of 12.25 years, repayable in equal monthly installments commencing three months following the connection of the Oude Tonge Project&#x2019;s facility to the grid and (ii) an on-call credit facility of &#x20ac;100 thousand with variable interest. The amount of &#x20ac;4,850 thousand was withdrawn in 2017 and 2018 on account of these loans.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;In
connection with the Goor Loan Agreement and the Oude Tonge Loan Agreement Ellomay Luxembourg, the Company&#x2019;s wholly-owned subsidiary:
(i) provided the following undertakings to Rabobank: (a) that Groen Goor and Groen Gas Oude Tonge, as applicable, will not make distributions
to its shareholders for a period of two years following the execution of the Loan Agreement, (b) that Groen Goor will not make distributions
or repurchase its shares so long as the equity (including owners loans) to total assets ratio of Groen Goor is less than 40%, (c) that
in the event the equity (including owners loans) to total assets ratio of Groen Goor and Groen Gas Oude Tonge will be below 40%, its
shareholders will invest the equity required in order to increase this ratio to 40%, pro rata to their holdings in Groen Goor and Groen
Gas Oude Tonge, as applicable, and up to a maximum of &#x20ac;1.2 million, and (d) that they will provide the equity required for the completion
of the Goor Project (ii) provided pledges on their respective rights in connection with the shareholders loans which each provided to
Groen Goor and Groen Gas Oude Tonge, which loans shall also be subordinated by Ellomay Luxembourg in the favor of Rabobank. In addition,
the Company provided a guarantee to Rabobank for the fulfillment of Ellomay Luxembourg&#x2019;s undertakings set forth above.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -13.5pt; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;3.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;GG Gelderland&lt;/b&gt; entered into a senior project finance agreement (the &#x201c;Gelderland Loan Agreement&#x201d;), with Rabobank, that includes the following tranches: (i) four loans with principal amounts of (a) &#x20ac;2,453 thousand (with a fixed interest rate of 3.6% for the first five years), (b) &#x20ac;1,200 thousand (with a fixed interest rate of 4.5% until the beginning of December 2020 and with a fixed interest rate of 3.5% until the beginning of December 2025), (c) &#x20ac;400 thousand (with a fixed interest rate of 3.55% until the end of January 2023 and with a fixed interest rate of 5.95% until the end of the loan period) and (d) &#x20ac;2,847 thousand (with a fixed interest rate of 4.5% until the beginning of December 2020 and with a fixed interest rate of 3.5% until the beginning of December 2025), all for a period of 12 years (144 monthly payments), repayable in equal monthly installments and (ii) an on-call credit facility of &#x20ac;750 thousand with variable interest. An aggregate amount of &#x20ac;6,900 thousand was withdrawn in 2015, 2016 and 2018 on account of these loans. On November 30, 2020, GG Gelderland replaced the loan set forth in (i)(a) above, which as of that date had an outstanding principal amount of &#x20ac;1,890 thousand, with another loan from Rabobank with a fixed interest rate of 3.1% per year, repayable in 56 payments monthly, with a repayment of principal in one payment in August 2025.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;In
connection with the Gelderland Loan Agreement, the following securities were provided to Rabobank: (i) pledge on the present and future
rights arising from the feedstock purchase agreement, the EPC agreement, the O&amp;amp;M agreement, the SDE subsidy, the various power and
green gas purchase agreements, and the green gas certification supply agreement, (ii) pledge on all present and future (a) receivables
arising from business and trade, and (b) stock and inventory including machinery and transport vehicles of GG Gelderland, and (iii) all
rights/claims of GG Gelderland against third parties existing at the time of the execution of the Gelderland Loan Agreement, including
rights from insurance agreements. In connection with the Gelderland Loan Agreement, Ellomay Luxembourg, the Company wholly-owned subsidiary,
provided the undertaking to Rabobank that Ellomay Luxembourg will not sell the shares of GG Gelderland without the prior written consent
of Rabobank.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;4.&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;GG Gelderland&lt;/b&gt;, entered into a loan agreement in the end of November 2020, with Ontwikkelingsnaatscgappij
Oost-Nederland N.V. (&#x201c;Oost&#x201d;), as a benefit created in connection with the Covid-19 pandemic. The loan is with a principal
amount of &#x20ac;750 thousand bore a fixed interest rate of 3 % per year for 3 years. The interest and the principle were to be fully repaid
in one single amount after 3 years. According to the agreement with Oost, the loan term may be prolonged to 5 years. In October 2023,
it was decided to extend the loan to 5 years and the interest rate changed to 5% as from November 2020.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Spain
- Loans&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0pt; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;On
March 12, 2019, four of the Company&#x2019;s Spanish subsidiaries (together, the &#x201c;Subsidiaries&#x201d;) entered into a &#x20ac;18.4
million project finance Facility Agreement (the &#x201c;Facility Agreement&#x201d;). The &#x20ac;18.4 million principal amount is divided
into: (i) four term loan facilities, one for each Subsidiary, in the aggregate amount of &#x20ac;17.6 million with terms ending in December
2037, and (ii) a revolving credit facility to attend the debt service if needed, for a maximum amount of euro 0.8 million granted to
any of the Subsidiaries.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
loans provided under the Facility Agreement bear an annual interest at the rate of Euribor 6 months plus a margin of 2% (with a zero
interest floor) and repaid semi-annually on June 20 and December 20. The principal is repaid on a semi-annual basis based on a pre-determined
sculptured repayment schedule.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Facility Agreement provides for mandatory prepayment upon the occurrence of certain events and includes various customary representations,
warranties and covenants, including covenants to maintain a DSCR on an aggregate basis not lower than 1.05:1, and not to make distributions
unless, among other things: (i) the DSCR, on an aggregate basis, is equal to or higher than 1.15:1.0, (ii) the first instalment of the
Project Finance has been repaid, (iii) no amount under the revolving credit tranche has been withdrawn and not fully repaid and no drawdowns
of the revolving credit tranche are expected within the next six months, and (iv) the Subsidiaries&#x2019; net debt to regulatory value
(as such terms are defined in the Facility Agreement) ratio is equal to or higher than 0.7:1.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;The
regulatory value of the PV Plants owned by the Subsidiaries is approximately &#x20ac;23.5 million, compared to their aggregate nominal purchase
price, which was approximately &#x20ac;14.85 million and their aggregate book value, which was approximately &#x20ac;14.6 million as of September
30, 2018. The Facility Agreements includes a cash-sweep payment mechanism and obligation that applies in the event the Subsidiaries&#x2019;
net debt to regulatory value ratio is equal to or higher than 0.7:1.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;

&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;As
of December 31, 2023, the financial covenants were met.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;On
March 12, 2019, the Subsidiaries entered into swap agreements with respect to approximately &#x20ac;17.6 million (with a decreasing notional
principal amount based on the amortization table) until December 2037, replacing the Euribor 6 month rate with a fixed 6 month rate of
approximately 1%, resulting in a fixed annual interest rate of approximately 3%. Such swap transactions qualify for hedge accounting.
See Note 21 E regarding the effect of the expected transition away from Libor and Euribor.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
documents ancillary to the Facility Agreements require that security interests be provided in connection with the following: (i) the
Subsidiaries&#x2019; shares (held by Ellomay Luxembourg(, (ii) pledges over accounts, (iii) pledges over relevant agreements including
hedging agreements; and (iv) promissory equipment mortgage.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Talasol
- Loans &lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 35.4pt"&gt;1.&lt;/td&gt;&lt;td style="text-align: justify"&gt;In December 2021, Talasol entered into financing agreement (the &#x201c;Talasol Facilities Agreement&#x201d;).
Financial closing of the Talasol Facilities Agreement was achieved in January 2022. The Talasol Facilities Agreement provides for the
provision of two tranches:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(a)&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;a term loan in the amount of &#x20ac;155 million of which the final maturity date is June 30, 2044, and&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(b)&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;a term loan in the amount of &#x20ac;20 million of which the final maturity date is December 31, 2042. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Principal
and interest at a weighted average of approximately 3% repayment are made on a semi-annual basis, in June and December.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
agreements executed in connection with the Talasol Financing provide for mandatory prepayment upon the occurrence of certain events and
various customary representations, warranties, and covenants, including covenants to maintain a Historic and Forecast DSCR equal to at
least 1.05x. Moreover, Talasol undertook not to make distributions in the event that: (i) the Historic and Forecast DSCR will be lower
than 1.10x until the expiration date of the Talasol PPA and equal to at least 1.25x thereafter and (ii) the Loan Life Cover Ratio will
be lower than 1.30x from the expiration date of the Talasol PPA and until maturity.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.85pt; text-align: justify; text-indent: 0in; background-color: white"&gt;The
Talasol Facilities Agreement requires that security interests be provided in connection with the following: (i) Talasol&#x2019;s shares
(held by Ellomay Luxembourg and the other shareholders of Talasol), (ii) pledges over credit rights under certain accounts, (iii) pledges
over credit rights under certain Talasol PV Plant&#x2019;s documents, (iv) pledges over credit rights under the shareholders loans, (v)
security assignment of receivables in connection with the Talasol PPA, (vi) promissory equipment mortgage and (vii) mortgage on all solar
modules and power inverters comprised in the project.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; background-color: white"&gt;

&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 35.4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;On April 30, 2019, following the closing of Talasol PV Plant and sale of 49% holdings of the Talasol Project, Talasol entered into a loan agreement with GSE 3 UK Limited and Fond-ICO Infraestructuras II, FICC (the minority shareholders of Talasol, each of whom owns 24.5% of Talasol). The unpaid balance (principal and interest) of the loan will bear interest of Euribor 6 mount plus 5.27%. The maturity date of this loan is December 31, 2037. As of December 31, 2023, the amount of the loan is &#x20ac;25,055 thousand.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 35.4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;B.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;The aggregate annual maturities are as follows:&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December&#160;31&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December&#160;31&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Second year&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;14,049&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;13,811&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Third year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;13,668&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;15,952&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Fourth year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;15,828&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;14,759&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Fifth year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;24,462&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;16,026&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Sixth year and thereafter&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;199,147&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;190,500&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Long-term loans&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;267,154&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;251,048&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Current maturities&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;14,308&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;22,187&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Short-term loans&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;476&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;628&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;281,938&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;273,863&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 35.4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;C.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;In order to minimize the interest-rate risk resulting from liabilities to banks and financing institutions linked to the Euribor, the Company executed swap transactions. For more information, see Note 21.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 35.4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;D.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Movement in liabilities deriving from financing activities&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Liabilities&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Loans and&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Note&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;borrowings&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Debentures&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 54%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance as at January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;273,863&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;110,428&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;384,291&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Changes from financing activities&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Proceeds from issue of debentures&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-161; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;55,808&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;55,808&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Repayment of debentures&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;12&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-162; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(17,763&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(17,763&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Receipt of loans&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;32,157&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-163; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;32,157&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Repayment of loans&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(12,736&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-164; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(12,736&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Accrued interest&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4,284&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-165; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4,284&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Linkage&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,849&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-166; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,849&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Transaction costs related to borrowings&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(686&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;446&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(240&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Transfer to disposal
    groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(13,047&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-167; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(13,047&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total net financing liabilities&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;285,684&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;148,919&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;434,603&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Effect
    of changes in foreign exchange rates&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(3,746&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(8,832&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(12,578&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance as at December
    31, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;281,938&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;140,087&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;422,025&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Liabilities&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Loans and&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Note&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;borrowings&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Debentures&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 54%; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance as at January 1, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;218,895&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;137,299&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;356,194&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Changes from financing
    activities&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Repayment of debentures&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;12&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-168; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(19,764&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(19,764&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Receipt of loans&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;215,170&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-169; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;215,170&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Repayment of loans&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(153,751&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-170; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(153,751&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Accrued interest&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,488&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-171; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,488&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Linkage&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,029&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-172; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,029&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Transaction costs
    related to borrowings&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(3,861&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;779&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(3,082&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Issuance of capital
    note to non-controlling interest&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(3,958&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-173; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(3,958&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total net financing liabilities&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;277,012&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;118,314&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;395,326&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Effect
    of changes in foreign exchange rates&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(3,149&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(7,886&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(11,035&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance as at December
    31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;273,863&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;110,428&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;384,291&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfBorrowingsExplanatory>
    <ifrs-full:DisclosureOfDetailedInformationAboutBorrowingsExplanatory contextRef="c0" id="ixv-29013">&lt;b&gt;Composed as follows:&lt;/b&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Linkage&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Interest rate&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;terms&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022 and 2023&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;Bank loans&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;%&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 31%; text-align: left; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 28%; font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;EURIBOR&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 15%; font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;2 - 6&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;21,132&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;23,918&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-160"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;2.58 - 3.03&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;156,748&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;164,212&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;Bank of Israel interest rate&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;4.35 - 9.1&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;5,509&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,986&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt"&gt;Consumer price index in Israel&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt"&gt;2.75 - 4.78&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;64,176&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;51,165&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;247,565&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;242,281&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.5in; padding-left: 0.5in"&gt;Current maturities&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;9,784&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;12,815&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.5in; padding-left: 0.5in"&gt;Long-term loans&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;237,781&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;229,466&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Linkage&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Interest rate&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;terms&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022 and 2023&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;Other long-term loans&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;%&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 31%; text-align: left; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 28%; font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;EURIBOR&lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 15%; font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;5.27-9.2&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;25,055&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;23,247&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;Consumer price index in Israel&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-left: 5.4pt"&gt;7&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;5,806&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,857&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt"&gt;Fixed&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt"&gt;5 - 5.5&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;3,512&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,478&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;34,373&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;31,582&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.5in; padding-left: 0.5in"&gt;Current maturities&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;5,000&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;10,000&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -0.5in; padding-left: 0.5in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.5in; padding-left: 0.5in"&gt;Other long-term loans&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt; padding-left: 5.4pt"&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;29,373&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;21,582&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.25in; text-align: left"&gt;(1)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Loans provided by the minority (49%) holders in Talasol.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfDetailedInformationAboutBorrowingsExplanatory>
    <ifrs-full:BorrowingsInterestRateBasis contextRef="c350" id="ixv-65496">EURIBOR</ifrs-full:BorrowingsInterestRateBasis>
    <ello:InterestRate
      contextRef="c351"
      decimals="2"
      id="ixv-65497"
      unitRef="pure">0.02</ello:InterestRate>
    <ello:InterestRate
      contextRef="c352"
      decimals="2"
      id="ixv-65498"
      unitRef="pure">0.06</ello:InterestRate>
    <ello:CurrentMaturities
      contextRef="c353"
      decimals="-3"
      id="ixv-65499"
      unitRef="eur">21132000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c354"
      decimals="-3"
      id="ixv-65500"
      unitRef="eur">23918000</ello:CurrentMaturities>
    <ello:InterestRate
      contextRef="c356"
      decimals="4"
      id="ixv-65501"
      unitRef="pure">0.0258</ello:InterestRate>
    <ello:InterestRate
      contextRef="c357"
      decimals="4"
      id="ixv-65502"
      unitRef="pure">0.0303</ello:InterestRate>
    <ello:CurrentMaturities
      contextRef="c358"
      decimals="-3"
      id="ixv-65503"
      unitRef="eur">156748000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c359"
      decimals="-3"
      id="ixv-65504"
      unitRef="eur">164212000</ello:CurrentMaturities>
    <ifrs-full:BorrowingsInterestRateBasis contextRef="c360" id="ixv-65505">Bank of Israel interest rate</ifrs-full:BorrowingsInterestRateBasis>
    <ello:InterestRate
      contextRef="c361"
      decimals="4"
      id="ixv-65506"
      unitRef="pure">0.0435</ello:InterestRate>
    <ello:InterestRate
      contextRef="c362"
      decimals="3"
      id="ixv-65507"
      unitRef="pure">0.091</ello:InterestRate>
    <ello:CurrentMaturities
      contextRef="c363"
      decimals="-3"
      id="ixv-65508"
      unitRef="eur">5509000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c364"
      decimals="-3"
      id="ixv-65509"
      unitRef="eur">2986000</ello:CurrentMaturities>
    <ifrs-full:BorrowingsInterestRateBasis contextRef="c365" id="ixv-65510">Consumer price index in Israel</ifrs-full:BorrowingsInterestRateBasis>
    <ello:InterestRate
      contextRef="c366"
      decimals="4"
      id="ixv-65511"
      unitRef="pure">0.0275</ello:InterestRate>
    <ello:InterestRate
      contextRef="c367"
      decimals="4"
      id="ixv-65512"
      unitRef="pure">0.0478</ello:InterestRate>
    <ello:CurrentMaturities
      contextRef="c368"
      decimals="-3"
      id="ixv-65513"
      unitRef="eur">64176000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c369"
      decimals="-3"
      id="ixv-65514"
      unitRef="eur">51165000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c370"
      decimals="-3"
      id="ixv-65515"
      unitRef="eur">247565000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c371"
      decimals="-3"
      id="ixv-65516"
      unitRef="eur">242281000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c372"
      decimals="-3"
      id="ixv-65517"
      unitRef="eur">9784000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c373"
      decimals="-3"
      id="ixv-65518"
      unitRef="eur">12815000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c374"
      decimals="-3"
      id="ixv-65519"
      unitRef="eur">237781000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c375"
      decimals="-3"
      id="ixv-65520"
      unitRef="eur">229466000</ello:CurrentMaturities>
    <ifrs-full:BorrowingsInterestRateBasis contextRef="c376" id="ix_83_fact">EURIBOR(1)</ifrs-full:BorrowingsInterestRateBasis>
    <ello:InterestRate
      contextRef="c377"
      decimals="4"
      id="ixv-65521"
      unitRef="pure">0.0527</ello:InterestRate>
    <ello:InterestRate
      contextRef="c378"
      decimals="3"
      id="ixv-65522"
      unitRef="pure">0.092</ello:InterestRate>
    <ello:CurrentMaturities
      contextRef="c379"
      decimals="-3"
      id="ixv-65523"
      unitRef="eur">25055000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c380"
      decimals="-3"
      id="ixv-65524"
      unitRef="eur">23247000</ello:CurrentMaturities>
    <ifrs-full:BorrowingsInterestRateBasis contextRef="c381" id="ixv-65525">Consumer price index in Israel</ifrs-full:BorrowingsInterestRateBasis>
    <ello:InterestRate
      contextRef="c382"
      decimals="2"
      id="ixv-65526"
      unitRef="pure">0.07</ello:InterestRate>
    <ello:CurrentMaturities
      contextRef="c383"
      decimals="-3"
      id="ixv-65527"
      unitRef="eur">5806000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c384"
      decimals="-3"
      id="ixv-65528"
      unitRef="eur">4857000</ello:CurrentMaturities>
    <ifrs-full:BorrowingsInterestRateBasis contextRef="c385" id="ixv-65529">Fixed</ifrs-full:BorrowingsInterestRateBasis>
    <ello:InterestRate
      contextRef="c386"
      decimals="2"
      id="ixv-65530"
      unitRef="pure">0.05</ello:InterestRate>
    <ello:InterestRate
      contextRef="c387"
      decimals="3"
      id="ixv-65531"
      unitRef="pure">0.055</ello:InterestRate>
    <ello:CurrentMaturities
      contextRef="c388"
      decimals="-3"
      id="ixv-65532"
      unitRef="eur">3512000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c389"
      decimals="-3"
      id="ixv-65533"
      unitRef="eur">3478000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c390"
      decimals="-3"
      id="ixv-65534"
      unitRef="eur">34373000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c391"
      decimals="-3"
      id="ixv-65535"
      unitRef="eur">31582000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c392"
      decimals="-3"
      id="ixv-65536"
      unitRef="eur">5000000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c393"
      decimals="-3"
      id="ixv-65537"
      unitRef="eur">10000000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c394"
      decimals="-3"
      id="ixv-65538"
      unitRef="eur">29373000</ello:CurrentMaturities>
    <ello:CurrentMaturities
      contextRef="c395"
      decimals="-3"
      id="ixv-65539"
      unitRef="eur">21582000</ello:CurrentMaturities>
    <ello:MinorityPercentage contextRef="c0" decimals="2" id="ixv-65541" unitRef="pure">0.49</ello:MinorityPercentage>
    <ifrs-full:ProportionOfOwnershipInterestInAssociate
      contextRef="c269"
      decimals="5"
      id="ixv-65542"
      unitRef="pure">0.83333</ifrs-full:ProportionOfOwnershipInterestInAssociate>
    <ifrs-full:ProportionOfOwnershipInterestInAssociate
      contextRef="c270"
      decimals="5"
      id="ixv-65543"
      unitRef="pure">0.16667</ifrs-full:ProportionOfOwnershipInterestInAssociate>
    <ello:NumberOfSplittingOfLoans contextRef="c0" decimals="0" id="ixv-65544" unitRef="pure">2</ello:NumberOfSplittingOfLoans>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c271"
      decimals="2"
      id="ixv-65545"
      unitRef="pure">0.07</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c272"
      decimals="2"
      id="ixv-65546"
      unitRef="pure">0.05</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:BorrowingsMaturity contextRef="c273" id="ixv-65547">December 31, 2027</ifrs-full:BorrowingsMaturity>
    <ifrs-full:Borrowings
      contextRef="c274"
      decimals="-3"
      id="ixv-65548"
      unitRef="ils">33910000</ifrs-full:Borrowings>
    <ifrs-full:Borrowings
      contextRef="c274"
      decimals="-3"
      id="ixv-65549"
      unitRef="eur">8452000</ifrs-full:Borrowings>
    <ifrs-full:Borrowings
      contextRef="c275"
      decimals="-7"
      id="ixv-65550"
      unitRef="ils">1270000000</ifrs-full:Borrowings>
    <ifrs-full:Borrowings
      contextRef="c275"
      decimals="-6"
      id="ixv-65551"
      unitRef="eur">338000000</ifrs-full:Borrowings>
    <ello:LongTermBorrowingsRiseInCurrentYear
      contextRef="c276"
      decimals="-6"
      id="ixv-65552"
      unitRef="ils">40000000</ello:LongTermBorrowingsRiseInCurrentYear>
    <ello:LongTermBorrowingsRiseInCurrentYear
      contextRef="c277"
      decimals="-5"
      id="ixv-65553"
      unitRef="eur">10600000</ello:LongTermBorrowingsRiseInCurrentYear>
    <ello:LongTermBorrowingsRiseInCurrentYear
      contextRef="c278"
      decimals="-6"
      id="ixv-65554"
      unitRef="ils">63000000</ello:LongTermBorrowingsRiseInCurrentYear>
    <ello:LongTermBorrowingsRiseInCurrentYear
      contextRef="c278"
      decimals="-5"
      id="ixv-65555"
      unitRef="eur">16800000</ello:LongTermBorrowingsRiseInCurrentYear>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c279"
      decimals="4"
      id="ixv-65556"
      unitRef="pure">0.0325</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c280"
      decimals="4"
      id="ixv-65557"
      unitRef="pure">0.024</ifrs-full:BorrowingsInterestRate>
    <ello:MaturityPeriod contextRef="c281" id="ixv-65558">P19Y6M</ello:MaturityPeriod>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c282"
      decimals="4"
      id="ixv-65559"
      unitRef="pure">0.0435</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c283"
      decimals="4"
      id="ixv-65560"
      unitRef="pure">0.039</ifrs-full:BorrowingsInterestRate>
    <ello:MaturityPeriod contextRef="c284" id="ixv-65561">P12Y</ello:MaturityPeriod>
    <ello:AggregateBookValueInvestmentInSubsidiary
      contextRef="c285"
      decimals="-6"
      id="ixv-65562"
      unitRef="ils">64000000</ello:AggregateBookValueInvestmentInSubsidiary>
    <ello:AggregateBookValueInvestmentInSubsidiary
      contextRef="c285"
      decimals="-5"
      id="ixv-65563"
      unitRef="eur">17100000</ello:AggregateBookValueInvestmentInSubsidiary>
    <ello:StandbyEquityGuarantee
      contextRef="c286"
      decimals="-5"
      id="ixv-65564"
      unitRef="ils">12500000</ello:StandbyEquityGuarantee>
    <ello:StandbyEquityGuarantee
      contextRef="c286"
      decimals="-5"
      id="ixv-65565"
      unitRef="eur">3300000</ello:StandbyEquityGuarantee>
    <ifrs-full:Borrowings
      contextRef="c287"
      decimals="-3"
      id="ixv-65566"
      unitRef="ils">245656000</ifrs-full:Borrowings>
    <ifrs-full:Borrowings
      contextRef="c288"
      decimals="-3"
      id="ixv-65567"
      unitRef="eur">65452000</ifrs-full:Borrowings>
    <ello:PercentageOfMaximumGuaranteedAmount
      contextRef="c289"
      decimals="4"
      id="ixv-65568"
      unitRef="pure">0.0275</ello:PercentageOfMaximumGuaranteedAmount>
    <ello:PercentageOfMaximumGuaranteedAmount
      contextRef="c290"
      decimals="4"
      id="ixv-65569"
      unitRef="pure">0.0478</ello:PercentageOfMaximumGuaranteedAmount>
    <ifrs-full:Borrowings
      contextRef="c291"
      decimals="-3"
      id="ixv-65570"
      unitRef="ils">20875000</ifrs-full:Borrowings>
    <ifrs-full:Borrowings
      contextRef="c291"
      decimals="-3"
      id="ixv-65571"
      unitRef="eur">5527000</ifrs-full:Borrowings>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c292"
      decimals="3"
      id="ixv-65572"
      unitRef="pure">0.091</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:Borrowings
      contextRef="c293"
      decimals="-3"
      id="ixv-65573"
      unitRef="eur">3510000</ifrs-full:Borrowings>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c293"
      decimals="2"
      id="ixv-65574"
      unitRef="pure">0.03</ifrs-full:BorrowingsInterestRate>
    <ello:FixedAnnualInterestRate
      contextRef="c294"
      decimals="4"
      id="ixv-65575"
      unitRef="pure">0.0345</ello:FixedAnnualInterestRate>
    <ifrs-full:Borrowings
      contextRef="c295"
      decimals="-3"
      id="ixv-65576"
      unitRef="eur">2090000</ifrs-full:Borrowings>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c296"
      decimals="3"
      id="ixv-65577"
      unitRef="pure">0.025</ifrs-full:BorrowingsInterestRate>
    <ello:FixedAnnualInterestRate
      contextRef="c297"
      decimals="4"
      id="ixv-65578"
      unitRef="pure">0.0265</ello:FixedAnnualInterestRate>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c298"
      decimals="4"
      id="ixv-65579"
      unitRef="pure">0.0605</ifrs-full:BorrowingsInterestRate>
    <ello:MaturityPeriod contextRef="c299" id="ixv-65580">P12Y3M</ello:MaturityPeriod>
    <ifrs-full:Borrowings
      contextRef="c300"
      decimals="-3"
      id="ixv-65581"
      unitRef="eur">370000</ifrs-full:Borrowings>
    <ello:AmountWithdrawnFromLoanAccount
      contextRef="c299"
      decimals="-3"
      id="ixv-65582"
      unitRef="eur">5600000</ello:AmountWithdrawnFromLoanAccount>
    <ifrs-full:Borrowings
      contextRef="c301"
      decimals="-3"
      id="ixv-65583"
      unitRef="eur">3150000</ifrs-full:Borrowings>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c302"
      decimals="3"
      id="ixv-65584"
      unitRef="pure">0.031</ifrs-full:BorrowingsInterestRate>
    <ello:FixedAnnualInterestRate
      contextRef="c303"
      decimals="4"
      id="ixv-65585"
      unitRef="pure">0.0395</ello:FixedAnnualInterestRate>
    <ifrs-full:Borrowings
      contextRef="c304"
      decimals="-3"
      id="ixv-65586"
      unitRef="eur">1540000</ifrs-full:Borrowings>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c305"
      decimals="3"
      id="ixv-65587"
      unitRef="pure">0.029</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c306"
      decimals="4"
      id="ixv-65588"
      unitRef="pure">0.0515</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:Borrowings
      contextRef="c307"
      decimals="-3"
      id="ixv-65589"
      unitRef="eur">160000</ifrs-full:Borrowings>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c308"
      decimals="3"
      id="ixv-65590"
      unitRef="pure">0.034</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:BorrowingsInterestRate contextRef="c2" decimals="4" id="ixv-65591" unitRef="pure">0.0565</ifrs-full:BorrowingsInterestRate>
    <ello:MaturityPeriod contextRef="c309" id="ixv-65592">P12Y3M</ello:MaturityPeriod>
    <ello:OnCallCreditFacility
      contextRef="c310"
      decimals="-3"
      id="ixv-65593"
      unitRef="eur">100000</ello:OnCallCreditFacility>
    <ello:AmountWithdrawnFromLoanAccount
      contextRef="c311"
      decimals="-3"
      id="ixv-65594"
      unitRef="eur">4850000</ello:AmountWithdrawnFromLoanAccount>
    <ello:AmountWithdrawnFromLoanAccount
      contextRef="c312"
      decimals="-3"
      id="ixv-65595"
      unitRef="eur">4850000</ello:AmountWithdrawnFromLoanAccount>
    <ello:DescriptionOfDebtEquityRatioAndHoldings contextRef="c313" id="ixv-65596">that Groen Goor and Groen Gas Oude Tonge, as applicable, will not make distributions
to its shareholders for a period of two years following the execution of the Loan Agreement, (b) that Groen Goor will not make distributions
or repurchase its shares so long as the equity (including owners loans) to total assets ratio of Groen Goor is less than 40%, (c) that
in the event the equity (including owners loans) to total assets ratio of Groen Goor and Groen Gas Oude Tonge will be below 40%, its
shareholders will invest the equity required in order to increase this ratio to 40%, pro rata to their holdings in Groen Goor and Groen
Gas Oude Tonge, as applicable, and up to a maximum of &#x20ac;1.2 million</ello:DescriptionOfDebtEquityRatioAndHoldings>
    <ifrs-full:Borrowings
      contextRef="c314"
      decimals="-3"
      id="ixv-65597"
      unitRef="eur">2453000</ifrs-full:Borrowings>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c314"
      decimals="3"
      id="ixv-65598"
      unitRef="pure">0.036</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:Borrowings
      contextRef="c315"
      decimals="-3"
      id="ixv-65599"
      unitRef="eur">1200000</ifrs-full:Borrowings>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c315"
      decimals="3"
      id="ixv-65600"
      unitRef="pure">0.045</ifrs-full:BorrowingsInterestRate>
    <ello:FixedAnnualInterestRate
      contextRef="c316"
      decimals="3"
      id="ixv-65601"
      unitRef="pure">0.035</ello:FixedAnnualInterestRate>
    <ifrs-full:Borrowings
      contextRef="c317"
      decimals="-3"
      id="ixv-65602"
      unitRef="eur">400000</ifrs-full:Borrowings>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c317"
      decimals="4"
      id="ixv-65603"
      unitRef="pure">0.0355</ifrs-full:BorrowingsInterestRate>
    <ello:FixedAnnualInterestRate
      contextRef="c318"
      decimals="4"
      id="ixv-65604"
      unitRef="pure">0.0595</ello:FixedAnnualInterestRate>
    <ifrs-full:Borrowings
      contextRef="c319"
      decimals="-3"
      id="ixv-65605"
      unitRef="eur">2847000</ifrs-full:Borrowings>
    <ifrs-full:BorrowingsInterestRate contextRef="c58" decimals="3" id="ixv-65606" unitRef="pure">0.045</ifrs-full:BorrowingsInterestRate>
    <ello:FixedAnnualInterestRate
      contextRef="c320"
      decimals="3"
      id="ixv-65607"
      unitRef="pure">0.035</ello:FixedAnnualInterestRate>
    <ello:MaturityPeriod contextRef="c324" id="ixv-65608">P12Y</ello:MaturityPeriod>
    <ello:MaturityPeriod contextRef="c323" id="ixv-65609">P12Y</ello:MaturityPeriod>
    <ello:MaturityPeriod contextRef="c322" id="ixv-65610">P12Y</ello:MaturityPeriod>
    <ello:MaturityPeriod contextRef="c321" id="ixv-65611">P12Y</ello:MaturityPeriod>
    <ello:NumberOfPaymentsInstallment contextRef="c324" id="ixv-65612">P144M</ello:NumberOfPaymentsInstallment>
    <ello:NumberOfPaymentsInstallment contextRef="c323" id="ixv-65613">P144M</ello:NumberOfPaymentsInstallment>
    <ello:NumberOfPaymentsInstallment contextRef="c322" id="ixv-65614">P144M</ello:NumberOfPaymentsInstallment>
    <ello:NumberOfPaymentsInstallment contextRef="c321" id="ixv-65615">P144M</ello:NumberOfPaymentsInstallment>
    <ello:OnCallCreditFacility
      contextRef="c325"
      decimals="-3"
      id="ixv-65616"
      unitRef="eur">750000</ello:OnCallCreditFacility>
    <ello:DepositAsDebtServiceFund
      contextRef="c326"
      decimals="-3"
      id="ixv-65617"
      unitRef="eur">6900000</ello:DepositAsDebtServiceFund>
    <ello:DepositAsDebtServiceFund
      contextRef="c327"
      decimals="-3"
      id="ixv-65618"
      unitRef="eur">6900000</ello:DepositAsDebtServiceFund>
    <ello:DepositAsDebtServiceFund
      contextRef="c328"
      decimals="-3"
      id="ixv-65619"
      unitRef="eur">6900000</ello:DepositAsDebtServiceFund>
    <ello:RemainingBorrowingsAmount
      contextRef="c325"
      decimals="-3"
      id="ixv-65620"
      unitRef="eur">1890000</ello:RemainingBorrowingsAmount>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c329"
      decimals="3"
      id="ixv-65621"
      unitRef="pure">0.031</ifrs-full:BorrowingsInterestRate>
    <ello:NumberOfPaymentsInstallment contextRef="c330" id="ixv-65622">P56M</ello:NumberOfPaymentsInstallment>
    <ifrs-full:BorrowingsMaturity contextRef="c330" id="ixv-65623">August 2025</ifrs-full:BorrowingsMaturity>
    <ifrs-full:Borrowings
      contextRef="c331"
      decimals="-3"
      id="ixv-65624"
      unitRef="eur">750000</ifrs-full:Borrowings>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c331"
      decimals="2"
      id="ixv-65625"
      unitRef="pure">0.03</ifrs-full:BorrowingsInterestRate>
    <ello:MaturityPeriod contextRef="c330" id="ixv-65626">P3Y</ello:MaturityPeriod>
    <ello:MaturityPeriodTerm contextRef="c330" id="ixv-65627">P5Y</ello:MaturityPeriodTerm>
    <ello:ExtensionOfMaturityTermPeriod contextRef="c332" id="ixv-65628">P5Y</ello:ExtensionOfMaturityTermPeriod>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c333"
      decimals="2"
      id="ixv-65629"
      unitRef="pure">0.05</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:Borrowings
      contextRef="c334"
      decimals="-5"
      id="ixv-65630"
      unitRef="eur">18400000</ifrs-full:Borrowings>
    <ifrs-full:Borrowings
      contextRef="c335"
      decimals="-5"
      id="ixv-65631"
      unitRef="eur">18400000</ifrs-full:Borrowings>
    <ifrs-full:NotionalAmount
      contextRef="c336"
      decimals="-5"
      id="ixv-65632"
      unitRef="eur">17600000</ifrs-full:NotionalAmount>
    <ifrs-full:BorrowingsMaturity contextRef="c337" id="ixv-65633">December
2037</ifrs-full:BorrowingsMaturity>
    <ifrs-full:Borrowings
      contextRef="c338"
      decimals="-5"
      id="ixv-65634"
      unitRef="eur">800000</ifrs-full:Borrowings>
    <ifrs-full:BorrowingsInterestRateBasis contextRef="c337" id="ixv-65635">Euribor 6 months plus a margin of 2% (with a zero
interest floor) and repaid semi-annually on June 20 and December 20</ifrs-full:BorrowingsInterestRateBasis>
    <ello:DescriptionOfDebtEquityRatioAndHoldings contextRef="c337" id="ixv-29604">The
Facility Agreement provides for mandatory prepayment upon the occurrence of certain events and includes various customary representations,
warranties and covenants, including covenants to maintain a DSCR on an aggregate basis not lower than 1.05:1, and not to make distributions
unless, among other things: (i) the DSCR, on an aggregate basis, is equal to or higher than 1.15:1.0, (ii) the first instalment of the
Project Finance has been repaid, (iii) no amount under the revolving credit tranche has been withdrawn and not fully repaid and no drawdowns
of the revolving credit tranche are expected within the next six months, and (iv) the Subsidiaries&#x2019; net debt to regulatory value
(as such terms are defined in the Facility Agreement) ratio is equal to or higher than 0.7:1.</ello:DescriptionOfDebtEquityRatioAndHoldings>
    <ifrs-full:Borrowings
      contextRef="c339"
      decimals="-5"
      id="ixv-65636"
      unitRef="eur">23500000</ifrs-full:Borrowings>
    <ello:AggregateNominalPurchasePrice
      contextRef="c340"
      decimals="-4"
      id="ixv-65637"
      unitRef="eur">14850000</ello:AggregateNominalPurchasePrice>
    <ello:AggregateBookValueInvestmentInSubsidiary
      contextRef="c340"
      decimals="-5"
      id="ixv-65638"
      unitRef="eur">14600000</ello:AggregateBookValueInvestmentInSubsidiary>
    <ifrs-full:NotionalAmount
      contextRef="c341"
      decimals="-5"
      id="ixv-65639"
      unitRef="eur">17600000</ifrs-full:NotionalAmount>
    <ifrs-full:BorrowingsMaturity contextRef="c342" id="ixv-65640">December 2037</ifrs-full:BorrowingsMaturity>
    <ifrs-full:BorrowingsInterestRateBasis contextRef="c342" id="ixv-65641">Euribor 6 month rate with a fixed 6 month rate of
approximately 1%, resulting in a fixed annual interest rate of approximately 3%.</ifrs-full:BorrowingsInterestRateBasis>
    <ifrs-full:Borrowings
      contextRef="c343"
      decimals="-6"
      id="ixv-65642"
      unitRef="eur">155000000</ifrs-full:Borrowings>
    <ifrs-full:BorrowingsMaturity contextRef="c344" id="ixv-65643">June 30, 2044</ifrs-full:BorrowingsMaturity>
    <ifrs-full:Borrowings
      contextRef="c345"
      decimals="-6"
      id="ixv-65644"
      unitRef="eur">20000000</ifrs-full:Borrowings>
    <ifrs-full:BorrowingsMaturity contextRef="c346" id="ixv-65645">December 31, 2042</ifrs-full:BorrowingsMaturity>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c278"
      decimals="2"
      id="ixv-65646"
      unitRef="pure">0.03</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:ProportionOfOwnershipInterestInAssociate
      contextRef="c347"
      decimals="2"
      id="ixv-65647"
      unitRef="pure">0.49</ifrs-full:ProportionOfOwnershipInterestInAssociate>
    <ello:PercentageOfMinorityInterestOfOwnershipInterestInAssociate
      contextRef="c347"
      decimals="3"
      id="ixv-65648"
      unitRef="pure">0.245</ello:PercentageOfMinorityInterestOfOwnershipInterestInAssociate>
    <ifrs-full:BorrowingsInterestRateBasis contextRef="c347" id="ixv-65649">Euribor 6 mount plus 5.27%.</ifrs-full:BorrowingsInterestRateBasis>
    <ifrs-full:BorrowingsMaturity contextRef="c348" id="ixv-65650">December 31, 2037</ifrs-full:BorrowingsMaturity>
    <ifrs-full:Borrowings
      contextRef="c278"
      decimals="-3"
      id="ixv-65651"
      unitRef="eur">25055000</ifrs-full:Borrowings>
    <ello:DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory contextRef="c0" id="ixv-29798">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;The aggregate annual maturities are as follows:&lt;/b&gt;&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December&#160;31&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December&#160;31&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Second year&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;14,049&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;13,811&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Third year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;13,668&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;15,952&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Fourth year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;15,828&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;14,759&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Fifth year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;24,462&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;16,026&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Sixth year and thereafter&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;199,147&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;190,500&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Long-term loans&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;267,154&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;251,048&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Current maturities&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;14,308&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;22,187&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Short-term loans&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;476&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;628&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;281,938&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;273,863&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:DisclosureOfDetailedInformationAboutAggregateMaturitiesExplanatory>
    <ifrs-full:CurrentPortionOfLongtermBorrowings
      contextRef="c396"
      decimals="-3"
      id="ixv-65652"
      unitRef="eur">14049000</ifrs-full:CurrentPortionOfLongtermBorrowings>
    <ifrs-full:CurrentPortionOfLongtermBorrowings
      contextRef="c397"
      decimals="-3"
      id="ixv-65653"
      unitRef="eur">13811000</ifrs-full:CurrentPortionOfLongtermBorrowings>
    <ifrs-full:CurrentPortionOfLongtermBorrowings
      contextRef="c398"
      decimals="-3"
      id="ixv-65654"
      unitRef="eur">13668000</ifrs-full:CurrentPortionOfLongtermBorrowings>
    <ifrs-full:CurrentPortionOfLongtermBorrowings
      contextRef="c399"
      decimals="-3"
      id="ixv-65655"
      unitRef="eur">15952000</ifrs-full:CurrentPortionOfLongtermBorrowings>
    <ifrs-full:CurrentPortionOfLongtermBorrowings
      contextRef="c400"
      decimals="-3"
      id="ixv-65656"
      unitRef="eur">15828000</ifrs-full:CurrentPortionOfLongtermBorrowings>
    <ifrs-full:CurrentPortionOfLongtermBorrowings
      contextRef="c401"
      decimals="-3"
      id="ixv-65657"
      unitRef="eur">14759000</ifrs-full:CurrentPortionOfLongtermBorrowings>
    <ifrs-full:CurrentPortionOfLongtermBorrowings
      contextRef="c402"
      decimals="-3"
      id="ixv-65658"
      unitRef="eur">24462000</ifrs-full:CurrentPortionOfLongtermBorrowings>
    <ifrs-full:CurrentPortionOfLongtermBorrowings
      contextRef="c403"
      decimals="-3"
      id="ixv-65659"
      unitRef="eur">16026000</ifrs-full:CurrentPortionOfLongtermBorrowings>
    <ifrs-full:CurrentPortionOfLongtermBorrowings
      contextRef="c404"
      decimals="-3"
      id="ixv-65660"
      unitRef="eur">199147000</ifrs-full:CurrentPortionOfLongtermBorrowings>
    <ifrs-full:CurrentPortionOfLongtermBorrowings
      contextRef="c405"
      decimals="-3"
      id="ixv-65661"
      unitRef="eur">190500000</ifrs-full:CurrentPortionOfLongtermBorrowings>
    <ifrs-full:CurrentPortionOfLongtermBorrowings
      contextRef="c406"
      decimals="-3"
      id="ixv-65662"
      unitRef="eur">267154000</ifrs-full:CurrentPortionOfLongtermBorrowings>
    <ifrs-full:CurrentPortionOfLongtermBorrowings
      contextRef="c407"
      decimals="-3"
      id="ixv-65663"
      unitRef="eur">251048000</ifrs-full:CurrentPortionOfLongtermBorrowings>
    <ifrs-full:ShorttermBorrowings
      contextRef="c406"
      decimals="-3"
      id="ixv-65664"
      unitRef="eur">14308000</ifrs-full:ShorttermBorrowings>
    <ifrs-full:ShorttermBorrowings
      contextRef="c407"
      decimals="-3"
      id="ixv-65665"
      unitRef="eur">22187000</ifrs-full:ShorttermBorrowings>
    <ello:ShorttermLoansinDollars
      contextRef="c408"
      decimals="-3"
      id="ixv-65666"
      unitRef="eur">476000</ello:ShorttermLoansinDollars>
    <ello:ShorttermLoansinDollars
      contextRef="c409"
      decimals="-3"
      id="ixv-65667"
      unitRef="eur">628000</ello:ShorttermLoansinDollars>
    <ifrs-full:Borrowings
      contextRef="c406"
      decimals="-3"
      id="ixv-65668"
      unitRef="eur">281938000</ifrs-full:Borrowings>
    <ifrs-full:Borrowings
      contextRef="c407"
      decimals="-3"
      id="ixv-65669"
      unitRef="eur">273863000</ifrs-full:Borrowings>
    <ifrs-full:BorrowingsInterestRateBasis contextRef="c349" id="ixv-30041">C.In order to minimize the interest-rate risk resulting from liabilities to banks and financing institutions linked to the Euribor, the Company executed swap transactions.</ifrs-full:BorrowingsInterestRateBasis>
    <ello:DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory contextRef="c0" id="ixv-30056">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Movement in liabilities deriving from financing activities&lt;/b&gt;&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Liabilities&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Loans and&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Note&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;borrowings&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Debentures&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 54%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance as at January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;273,863&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;110,428&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;384,291&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Changes from financing activities&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Proceeds from issue of debentures&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-161; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;55,808&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;55,808&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Repayment of debentures&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;12&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-162; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(17,763&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(17,763&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Receipt of loans&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;32,157&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-163; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;32,157&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Repayment of loans&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(12,736&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-164; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(12,736&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Accrued interest&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4,284&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-165; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4,284&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Linkage&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,849&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-166; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,849&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Transaction costs related to borrowings&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(686&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;446&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(240&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Transfer to disposal
    groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(13,047&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-167; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(13,047&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total net financing liabilities&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;285,684&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;148,919&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;434,603&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Effect
    of changes in foreign exchange rates&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(3,746&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(8,832&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(12,578&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance as at December
    31, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;281,938&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;140,087&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;422,025&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Liabilities&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Loans and&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Note&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;borrowings&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Debentures&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 54%; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance as at January 1, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;218,895&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;137,299&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;356,194&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Changes from financing
    activities&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Repayment of debentures&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;12&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-168; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(19,764&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(19,764&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Receipt of loans&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;215,170&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-169; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;215,170&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Repayment of loans&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(153,751&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-170; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(153,751&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Accrued interest&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,488&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-171; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,488&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Linkage&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,029&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-172; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,029&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Transaction costs
    related to borrowings&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(3,861&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;779&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(3,082&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Issuance of capital
    note to non-controlling interest&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(3,958&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-173; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(3,958&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total net financing liabilities&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;277,012&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;118,314&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;395,326&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Effect
    of changes in foreign exchange rates&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(3,149&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(7,886&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(11,035&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance as at December
    31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;273,863&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;110,428&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;384,291&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:DisclosureOfDetailedInformationAboutMovementInLiabilitiesDerivingFromFinancingActivitiesExplanatory>
    <ifrs-full:CurrentFinancialLiabilities
      contextRef="c410"
      decimals="-3"
      id="ixv-65671"
      unitRef="eur">273863000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:CurrentFinancialLiabilities
      contextRef="c411"
      decimals="-3"
      id="ixv-65672"
      unitRef="eur">110428000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:CurrentFinancialLiabilities contextRef="c3" decimals="-3" id="ixv-65673" unitRef="eur">384291000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures
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      id="ixv-65674"
      unitRef="eur">55808000</ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures>
    <ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures contextRef="c0" decimals="-3" id="ixv-65675" unitRef="eur">55808000</ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures>
    <ello:RepaymentOfDebentures
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      decimals="-3"
      id="ixv-65676"
      unitRef="eur">17763000</ello:RepaymentOfDebentures>
    <ello:RepaymentOfDebentures contextRef="c0" decimals="-3" id="ixv-65677" unitRef="eur">17763000</ello:RepaymentOfDebentures>
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      id="ixv-65678"
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    <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="c0" decimals="-3" id="ixv-65679" unitRef="eur">32157000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
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    <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="c0" decimals="-3" id="ixv-65681" unitRef="eur">12736000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
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      id="ixv-65682"
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    <ifrs-full:InterestPaidClassifiedAsFinancingActivities contextRef="c0" decimals="-3" id="ixv-65683" unitRef="eur">4284000</ifrs-full:InterestPaidClassifiedAsFinancingActivities>
    <ello:LinkageValueOfLoansAndBorrowings
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      decimals="-3"
      id="ixv-65684"
      unitRef="eur">1849000</ello:LinkageValueOfLoansAndBorrowings>
    <ello:LinkageValueOfLoansAndBorrowings contextRef="c0" decimals="-3" id="ixv-65685" unitRef="eur">1849000</ello:LinkageValueOfLoansAndBorrowings>
    <ello:BorrowingsTransactionCosts
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      decimals="-3"
      id="ixv-65686"
      unitRef="eur">-686000</ello:BorrowingsTransactionCosts>
    <ello:BorrowingsTransactionCosts
      contextRef="c413"
      decimals="-3"
      id="ixv-65687"
      unitRef="eur">446000</ello:BorrowingsTransactionCosts>
    <ello:BorrowingsTransactionCosts contextRef="c0" decimals="-3" id="ixv-65688" unitRef="eur">-240000</ello:BorrowingsTransactionCosts>
    <ello:TransferToDisposalGroupsHeldForSaleinDollars
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      decimals="-3"
      id="ixv-65689"
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    <ello:TransferToDisposalGroupsHeldForSaleinDollars contextRef="c0" decimals="-3" id="ixv-65690" unitRef="eur">-13047000</ello:TransferToDisposalGroupsHeldForSaleinDollars>
    <ello:CashFlowsFromUsedInFinancingActivities1
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    <ello:CashFlowsFromUsedInFinancingActivities1
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      id="ixv-65692"
      unitRef="eur">148919000</ello:CashFlowsFromUsedInFinancingActivities1>
    <ello:CashFlowsFromUsedInFinancingActivities1 contextRef="c0" decimals="-3" id="ixv-65693" unitRef="eur">434603000</ello:CashFlowsFromUsedInFinancingActivities1>
    <ello:EffectOfChangesInForeignExchangeRates
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      id="ixv-65694"
      unitRef="eur">-3746000</ello:EffectOfChangesInForeignExchangeRates>
    <ello:EffectOfChangesInForeignExchangeRates
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      id="ixv-65695"
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    <ifrs-full:CurrentFinancialLiabilities
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      decimals="-3"
      id="ixv-65697"
      unitRef="eur">281938000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:CurrentFinancialLiabilities
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      decimals="-3"
      id="ixv-65698"
      unitRef="eur">140087000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:CurrentFinancialLiabilities contextRef="c2" decimals="-3" id="ixv-65699" unitRef="eur">422025000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:CurrentFinancialLiabilities
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      decimals="-3"
      id="ixv-65700"
      unitRef="eur">218895000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:CurrentFinancialLiabilities
      contextRef="c417"
      decimals="-3"
      id="ixv-65701"
      unitRef="eur">137299000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:CurrentFinancialLiabilities contextRef="c40" decimals="-3" id="ixv-65702" unitRef="eur">356194000</ifrs-full:CurrentFinancialLiabilities>
    <ello:RepaymentOfDebentures
      contextRef="c419"
      decimals="-3"
      id="ixv-65703"
      unitRef="eur">19764000</ello:RepaymentOfDebentures>
    <ello:RepaymentOfDebentures contextRef="c4" decimals="-3" id="ixv-65704" unitRef="eur">19764000</ello:RepaymentOfDebentures>
    <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities
      contextRef="c418"
      decimals="-3"
      id="ixv-65705"
      unitRef="eur">215170000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
    <ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="c4" decimals="-3" id="ixv-65706" unitRef="eur">215170000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
    <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities
      contextRef="c418"
      decimals="-3"
      id="ixv-65707"
      unitRef="eur">153751000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
    <ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="c4" decimals="-3" id="ixv-65708" unitRef="eur">153751000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
    <ifrs-full:InterestPaidClassifiedAsFinancingActivities
      contextRef="c418"
      decimals="-3"
      id="ixv-65709"
      unitRef="eur">2488000</ifrs-full:InterestPaidClassifiedAsFinancingActivities>
    <ifrs-full:InterestPaidClassifiedAsFinancingActivities contextRef="c4" decimals="-3" id="ixv-65710" unitRef="eur">2488000</ifrs-full:InterestPaidClassifiedAsFinancingActivities>
    <ello:LinkageValueOfLoansAndBorrowings
      contextRef="c418"
      decimals="-3"
      id="ixv-65711"
      unitRef="eur">2029000</ello:LinkageValueOfLoansAndBorrowings>
    <ello:LinkageValueOfLoansAndBorrowings contextRef="c4" decimals="-3" id="ixv-65712" unitRef="eur">2029000</ello:LinkageValueOfLoansAndBorrowings>
    <ello:BorrowingsTransactionCosts
      contextRef="c418"
      decimals="-3"
      id="ixv-65713"
      unitRef="eur">-3861000</ello:BorrowingsTransactionCosts>
    <ello:BorrowingsTransactionCosts
      contextRef="c419"
      decimals="-3"
      id="ixv-65714"
      unitRef="eur">779000</ello:BorrowingsTransactionCosts>
    <ello:BorrowingsTransactionCosts contextRef="c4" decimals="-3" id="ixv-65715" unitRef="eur">-3082000</ello:BorrowingsTransactionCosts>
    <ello:IssuanceOfCapitalToNonControllingInterest
      contextRef="c418"
      decimals="-3"
      id="ixv-65716"
      unitRef="eur">3958000</ello:IssuanceOfCapitalToNonControllingInterest>
    <ello:IssuanceOfCapitalToNonControllingInterest contextRef="c4" decimals="-3" id="ixv-65717" unitRef="eur">3958000</ello:IssuanceOfCapitalToNonControllingInterest>
    <ello:CashFlowsFromUsedInFinancingActivities1
      contextRef="c418"
      decimals="-3"
      id="ixv-65718"
      unitRef="eur">277012000</ello:CashFlowsFromUsedInFinancingActivities1>
    <ello:CashFlowsFromUsedInFinancingActivities1
      contextRef="c419"
      decimals="-3"
      id="ixv-65719"
      unitRef="eur">118314000</ello:CashFlowsFromUsedInFinancingActivities1>
    <ello:CashFlowsFromUsedInFinancingActivities1 contextRef="c4" decimals="-3" id="ixv-65720" unitRef="eur">395326000</ello:CashFlowsFromUsedInFinancingActivities1>
    <ello:EffectOfChangesInForeignExchangeRates
      contextRef="c418"
      decimals="-3"
      id="ixv-65721"
      unitRef="eur">-3149000</ello:EffectOfChangesInForeignExchangeRates>
    <ello:EffectOfChangesInForeignExchangeRates
      contextRef="c419"
      decimals="-3"
      id="ixv-65722"
      unitRef="eur">-7886000</ello:EffectOfChangesInForeignExchangeRates>
    <ello:EffectOfChangesInForeignExchangeRates contextRef="c4" decimals="-3" id="ixv-65723" unitRef="eur">-11035000</ello:EffectOfChangesInForeignExchangeRates>
    <ifrs-full:CurrentFinancialLiabilities
      contextRef="c410"
      decimals="-3"
      id="ixv-65724"
      unitRef="eur">273863000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:CurrentFinancialLiabilities
      contextRef="c411"
      decimals="-3"
      id="ixv-65725"
      unitRef="eur">110428000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:CurrentFinancialLiabilities contextRef="c3" decimals="-3" id="ixv-65726" unitRef="eur">384291000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:DisclosureOfDebtSecuritiesExplanatory contextRef="c0" id="ixv-31121">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Note
12 - Debentures&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 183pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 35.4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;A.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Composed as follows:&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December
    31, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December
    31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Face
    value&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Carrying&lt;br/&gt;
    amount&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Face
    value&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Carrying&lt;br/&gt;
    amount&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Debentures&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;141,689&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;140,087&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;111,911&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;110,428&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Less
    current maturities&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;35,698&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;35,200&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;19,078&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;18,714&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total
    long-term debentures&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;105,991&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;104,887&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;92,833&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;91,714&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 35.4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;B.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Debentures
                                            &#x2013; Details&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Series
C Debentures&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;On
July 25, 2019, the Company issued Series C Debentures due June 30, 2025 in a public offering in Israel in the aggregate principal amount
of NIS 89,065 thousand (approximately &#x20ac;22,690 thousand based on the Euro/NIS exchange rate at that time). The gross proceeds of
the offering were NIS 89,065 thousand and the net proceeds of the offering, net of related expenses such as consultancy fee and commissions,
were approximately NIS 87,600 thousand (approximately &#x20ac;22,317 thousand based on the Euro/NIS exchange rate at that time).&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;On
October 26, 2020, the Company completed a public offering in Israel of additional Series C Debenture and a of Series 1 Options (see Note
16A). The Company issued an aggregate principal amount of NIS 154,000 thousand (approximately &#x20ac;38,500 thousand based on the Euro/NIS
exchange rate at that time) of Series C Debentures and 385,000 Series 1 Options. The gross proceeds from the offering were NIS 164,200
thousand (approximately &#x20ac;41,100 thousand based on the Euro/NIS exchange rate at that time) and the net proceeds of the offering,
net of related expenses such as consultancy fee and commissions, were approximately NIS 162,400 thousand (approximately &#x20ac;40,300
thousand based on the Euro/NIS exchange rate at that time).&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;On
February 23, 2021, the Company issued additional Series C Debentures in a public offering in Israel in an aggregate principal amount
of NIS 100,939 thousand (approximately &#x20ac;25,442 thousand based on the Euro/NIS exchange rate at that time). The gross proceeds from
the offering were NIS 102,400 thousand and the net proceeds of the offering, net of related expenses such as consultancy fee and commissions,
were approximately NIS 101,500 thousand (approximately &#x20ac;25,534 thousand based on the Euro/NIS exchange rate at that time).&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;In
October 2021, the Company issued additional Series C Debentures in an aggregate principal amount of NIS 120,000 thousand (approximately
&#x20ac;32,100 thousand based on the Euro/NIS exchange rate at that time) to Israeli classified investors in a private placement for an
aggregate gross consideration of approximately NIS 121,600 thousand (approximately &#x20ac;32,529 thousand based on the Euro/NIS exchange
rate at that time), reflecting a price of NIS &lt;span style="-sec-ix-hidden: hidden-fact-176"&gt;1.0135&lt;/span&gt; per NIS 1 principal amount.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;In
order to manage the currency risk resulting from the Series C Debentures, which are denominated in NIS, the Company executed currency
swap transactions in March 2021. The Company exchanged Series C Debentures NIS denominated notional principal in the aggregate amount
of NIS 100,000 thousand with a euro notional principal. Such currency swap transactions qualify for hedge accounting. On August 17, 2022,
the currency swap was realized at an exercise price of &#x20ac;3,800 thousand.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
principal amount of Series C Debentures is repayable in five (5) unequal annual installments as follows: on June 30, 2021 10% of the
principal shall be paid, on June 30 of each of the years 2022 and 2023, 15% of the principal shall be paid and on June 30 of each of
the years 2024 and 2025, 30% of the principal shall be paid. The Series C Debentures originally bore a fixed interest at the rate of
3.3% per year (that is not linked to the Israeli CPI or otherwise), payable semi-annually on June 30 and December 31 commencing December
31, 2019 through June 30, 2025 (inclusive).&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;On
June 6, 2022, the holders of Series C Debentures approved an amendment to the Series C Deed of Trust, which provides for certain revisions
to the financial covenants and for the increase of the annual interest rate payable on the principal of the Series C Debentures by 0.25%
from 3.3% to 3.55%, commencing on June 6, 2022.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Series C Deed of Trust includes customary provisions, including (i) a negative pledge such that the Company may not place a floating
charge on all of the Company&#x2019;s assets, subject to certain exceptions and (ii) an obligation to pay additional interest for failure
to maintain certain financial covenants, with an increase of 0.25% for the period in which the Company do not meet each standard and
up to an annual increase of 0.5%. The Series C Deed of Trust does not restrict the Company&#x2019;s ability to issue any new series of
debt instruments, other than in certain specific circumstances, and enables us to expand the Series C Debentures provided that: (i) the
Company is not in default of any of the immediate repayment provisions included in the Series C Deed of Trust or in breach of any of
the Company&#x2019;s material obligations to the holders of the Series C Debentures pursuant to the terms of the Series C Deed of Trust,
(ii) the expansion will not harm the Company&#x2019;s compliance with the financial covenants included in the distribution undertaking
Series C Deed of Trust and (iii) to the extent the Series C Debentures are rated at the time of the expansion, the expansion will not
harm the rating of the existing Series C Debentures.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Series C Deed of Trust includes a number of customary causes for immediate repayment, including a default with certain financial covenants
for two consecutive financial quarters, and includes a mechanism for the update of the annual interest rate of the Series C Debentures
in the event the Company does not meet certain financial covenants. The financial covenants are as follows:&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;1.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;the Company&#x2019;s Adjusted Balance Sheet Equity (as such term is defined in the Series C Deet of Trust, which, among other exclusions, excludes changes in the fair value of hedging transactions of electricity prices, such as the Talasol PPA), on a consolidated basis, shall not be less than &#x20ac;50 million for purposes of the immediate repayment provision and shall not be less than &#x20ac;60 million for purposes of the update of the annual interest provision;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The ratio of (a) the short-term and long-term debt from banks, in addition to the debt to holders of debentures issued by us and any other interest-bearing financial obligations, net of cash and cash equivalents and short-term investments and net of financing of projects, including hedging transactions in connection with such financing, of the Company&#x2019;s subsidiaries (together, the &#x201c;Series C Net Financial Debt&#x201d;), to (b) the Company&#x2019;s Series C Adjusted Balance Sheet Equity, on a consolidated basis, plus the Net Financial Debt (the &#x201c;Series C CAP, Net&#x201d; and the &#x201c;Series C Ratio of Net Financial Debt to Series C CAP, Net,&#x201d; respectively), shall not exceed the rate of 67.5% for purposes of the immediate repayment provision and shall not exceed a rate of 60% for purposes of the update of the annual interest provision; and&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;3.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
                                            ratio of (a) the Series C Net Financial Debt, to (b) the Company&#x2019;s earnings before
                                            financial expenses, net, taxes, depreciation and amortization, where the revenues from the
                                            Company&#x2019;s operations, such as the Talmei Yosef Plant, are calculated based on the
                                            fixed asset model and not based on the financial asset model (IFRIC 12), and before share-based
                                            payments, based on the aggregate four preceding quarters (the &#x201c;Series C Adjusted EBITDA&#x201d;
                                            and the &#x201c;Series C Ratio of Net Financial Debt to Series C Adjusted EBITDA,&#x201d; respectively),
                                            shall not be higher than 12 for purposes of the immediate repayment provision and shall not
                                            be higher than 10 for purposes of the update of the annual interest provision.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Series C Deed of Trust further provides that the Company may make distributions (as such term is defined in the Companies Law, e.g. dividends),
to the Company&#x2019;s shareholders, provided that: (a) the Company will not distribute more than 75% of the distributable profit, (b)
the Company will not distribute dividends based on profit due to revaluation (for the removal of doubt, negative goodwill will not be
considered a revaluation profit), (c) the Company is in compliance with all of its material undertakings to the holders of the Series
C Debentures and (d) on the date of distribution and after the distribution no cause for immediate repayment exists. The Company is also
required to maintain the following financial ratios (which are calculated based on the same definitions applicable to the financial covenants
set forth above) after the distribution: (i) Series C Adjusted Balance Sheet Equity not lower than &#x20ac;70 million, (ii) Series C Ratio
of Net Financial Debt to Series C CAP, Net not to exceed 60%, and (iii) Series C Ratio of Net Financial Debt to Series C Adjusted EBITDA,
shall not be higher than 8, and not to make distributions if the Company do not meet all of its material obligations to the holders of
the Series C Debentures and if on the date of distribution and after the distribution a cause for immediate repayment exists.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;As
of December 31, 2023, the financial covenants were met.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Series
D Convertible Debentures&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;On
February 23, 2021, the Company issued new Series D Convertible Debentures in a public offering in Israel in the aggregate principal amount
of NIS 62,000 thousand (approximately &#x20ac;15,627 thousand based on the Euro/NIS exchange rate at that time). The principal amount of
the Series D Convertible Debentures is repayable in one installment on December 31, 2026. The Series D Convertible Debentures bear a
fixed interest at the rate of 1.2% per year (that is not linked to the Israeli CPI or otherwise), payable semi-annually on June 30 and
December 31 commencing June 30, 2021, through December 31, 2026 (inclusive). The Series D Convertible Debentures are convertible into
the Company&#x2019;s ordinary shares, NIS 10.00 par value per share, at a conversion price of NIS 165 (approximately &#x20ac;41.6 based
on the Euro/NIS exchange rate at that time), subject to adjustments upon customary terms. The Series D Convertible Debentures are not
rated. The gross proceeds from the offering were approximately NIS 62,600 thousand and the net proceeds of the offering, net of related
expenses such as consultancy fee and commissions, were approximately NIS 61,800 thousand (approximately &#x20ac;15,577 thousand based on
the Euro/NIS exchange rate at that time). Of the total proceeds, an amount NIS 7,504 thousand (approximately &#x20ac;1,890 thousand based
on the Euro/NIS exchange rate at that time) was recognized in Other long-term liabilities in connection with the convertible component.
As of December 31, 2023, the amount of the liability was &#x20ac;82 thousand.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Series D Deed of Trust includes customary provisions, including (i) a negative pledge such that the Company may not place a floating
charge on all of the Company assets, subject to certain exceptions and (ii) an obligation to pay additional interest for failure to maintain
certain financial covenants, with an increase of 0.25% in the annual interest rate for the period in which the Company do not meet each
standard and up to an increase of 0.75% in the annual interest rate.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Series D Deed of Trust does not restrict the Company ability to issue any new series of debt instruments, other than in certain specific
circumstances, and enables us to expand the Series D Convertible Debentures up to an aggregate par value of NIS 200 million provided
that: (i) The Company is not in default of any of the immediate repayment provisions included in the Series D Deed of Trust or in breach
of any of its material obligations to the holders of the Series D Convertible Debentures pursuant to the terms of the Series D Deed of
Trust, (ii) the expansion will not harm the Company compliance with the financial covenants included in the distribution undertaking
Series D Deed of Trust and (iii) to the extent the Series D Convertible Debentures are rated at the time of the expansion, the expansion
will not harm the rating of the existing Series D Convertible Debentures.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Series D Deed of Trust includes a number of customary causes for immediate repayment, including a default with certain financial covenants
for the applicable period, and includes a mechanism for the update of the annual interest rate of the Series D Convertible Debentures
in the event the Company do not meet certain financial covenants. The financial covenants are as follows:&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;1.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The Company Adjusted Balance Sheet Equity (as such term is defined in the Series D Deed of Trust, which, among other exclusions, excludes changes in the fair value of hedging transactions of electricity prices, such as the Talasol PPA), on a consolidated basis, shall not be less than &#x20ac;70 million for two consecutive quarters for purposes of the immediate repayment provision and shall not be less than &#x20ac;75 million for purposes of the update of the annual interest provision;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The ratio of (a) the short-term and long-term debt from banks, in addition to the debt to holders of debentures issued by us and any other interest-bearing financial obligations provided by entities who are in the business of lending money (excluding financing of projects and other exclusions as set forth in the Series D Deed of Trust), net of cash and cash equivalents, short-term investments, deposits, financial funds and negotiable securities, to the extent that these are not restricted (with the exception of a restriction for the purpose of securing any financial debt according to this definition) (together, the &#x201c;Series D Net Financial Debt&#x201d;), to (b) The Series D Adjusted Balance Sheet Equity, on a consolidated basis, plus the Series D Net Financial Debt (the &#x201c;Series D CAP, Net&#x201d; and the &#x201c;Series D Ratio of Net Financial Debt to Series D CAP, Net,&#x201d; respectively), shall not exceed the rate of 68% for three consecutive quarters for purposes of the immediate repayment provision and shall not exceed a rate of 60% for purposes of the updated of the annual interest provision; and&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in"&gt;3.&lt;/td&gt;&lt;td style="text-align: justify"&gt;The ratio of (a) the Series D Net Financial Debt, to (b) the Company earnings before financial expenses,
net, taxes, depreciation and amortization, where the revenues from its operations, such as the Talmei Yosef Plant, are calculated based
on the fixed asset model and not based on the financial asset model (IFRIC 12), and before share-based payments, when the data of assets
or projects whose Commercial Operation Date occurred in the four quarters that preceded the test date will be calculated based on Annual
Gross Up (as such terms are defined in the Series D Deed of Trust), based on the aggregate four preceding quarters (the &#x201c;Series
D Adjusted EBITDA&#x201d; and the &#x201c;Series D Ratio of Net Financial Debt to Series D Adjusted EBITDA,&#x201d; respectively), shall
not be higher than 14 for purposes of the immediate repayment provision and shall not be higher than 12 for purposes of the update of
the annual interest provision.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Series D Deed of Trust includes similar conditions to the Company ability to make distributions (as such term is defined in the Companies
Law, e.g. dividends), to the Company shareholders as are included in the Series C Deed of Trust and set forth above. The Company is also
required to maintain the following financial ratios (which are calculated based on the same definitions applicable to the financial covenants
set forth above) after the distribution: (i) Series D Adjusted Balance Sheet Equity not lower than &#x20ac;85 million, (ii) Series D Ratio
of Series D Net Financial Debt to Series D CAP, Net not to exceed 60%, and (iii) Series D Ratio of Series D Net Financial Debt to Series
D Adjusted EBITDA, shall not be higher than 9, and not to make distributions if the Company do not meet all of the Company material obligations
to the holders of the Series D Convertible Debentures and if on the date of distribution and after the distribution a cause for immediate
repayment exists.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;As
of December 31, 2023, the financial covenants were met.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Series
E Debentures&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;On February 1, 2023, the Company issued
NIS 220 million (approximately &#x20ac;58.5 million based on the Euro/NIS exchange rate at that time) of the Series E Secured Debentures,
due March 31, 2029, through a public offering in Israel. The net proceeds of the offering, net of related expenses such as consultancy
fee and commissions, were approxim&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;ately NIS 218 million (approximately
&#x20ac;56 million based on the Euro/NIS exchange rate at that time). The Series E Debentures are secured by the following pledges:&lt;/span&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;i.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;a fixed pledge first degree on shares of Ellomay Luzon Energy held by Ellomay Energy LP, representing a 50% ownership of Ellomay Luzon Energy, which holds 18.75% of Dorad;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;ii.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;a
                                            floating first-degree pledge and an assignment by way of a pledge of, and with respect to,
                                            Ellomay Energy LP&#x2019;s rights and agreements in connection with shareholder&#x2019;s loans
                                            and capital notes provided by Ellomay Energy LP to Ellomay Luzon Energy; and&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
                                                                                                                                         &lt;/table&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;iii.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;a
                                            fixed first-degree pledge on the Company rights and the rights of Ellomay Energy LP in and
                                            to a trust bank account in the name of the trustee of the Series E Secured Debentures.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
principal amount of Series E Secured Debentures is repayable in four equal installments on March 31 from 2026 through 2029 (inclusive).
The Series E Secured Debentures bear a fixed interest at the rate of 6.05% per year (that is not linked to the Israeli CPI or otherwise),
payable semi-annually on March 31 and September 30, commencing March 31, 2023 through March 31, 2029 (inclusive).&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Series E Deed of Trust includes customary provisions, including (i) a negative pledge such that the Company may not place a floating
charge on all of its assets, subject to certain exceptions and (ii) an obligation to pay additional interest for failure to maintain
certain financial covenants, with an increase of 0.25% in the annual interest rate for the period in which the Company do not meet each
standard and up to an increase of 0.75% in the annual interest rate. The Series E Deed of Trust does not restrict the Company ability
to issue any new series of debt instruments, other than in certain specific circumstances, and enables us to expand the Series E Secured
Debentures provided that: (i) The Company is not in default of any of the immediate repayment provisions included in the Series E Deed
of Trust or in breach of any of its material obligations to the holders of the Series E Secured Debentures pursuant to the terms of the
Series E Deed of Trust, (ii) the expansion will not harm its compliance with the financial covenants for purposes of the immediate repayment
provision included in the Series E Deed of Trust, (iii) to the extent the Series E Secured Debentures are rated at the time of the expansion,
the expansion will not harm the rating of the existing Series E Secured Debentures and (iv) the par value of the Series E Secured Debentures
may not be higher than NIS 220 million following the expansion.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Series E Deed of Trust includes a number of customary causes for immediate repayment, including a default with certain financial covenants
for the applicable period, and as noted above a mechanism for the update of the annual interest rate in the event the Company do not
meet certain financial covenants. The financial covenants are as follows:&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in"&gt;a.&lt;/td&gt;&lt;td style="text-align: justify"&gt;The Company Series E Adjusted Balance Sheet Equity (as such term is defined in the Series E Deed of Trust,
which, among other exclusions, excludes changes in the fair value of hedging transactions of electricity prices, such as the Talasol PPA),
on a consolidated basis, shall not be less than &#x20ac;75 million for two consecutive quarters for purposes of the immediate repayment
provision and shall not be less than &#x20ac;80 million for purposes of the update of the annual interest provision;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
                                                                                                                     &lt;/table&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;b.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The ratio of (a) the short-term and long-term debt from banks, in addition to the debt to holders of debentures issued by us and any other interest-bearing financial obligations provided by entities who are in the business of lending money (excluding financing of projects and other exclusions as set forth in the Series E Deed of Trust), net of cash and cash equivalents, short-term investments, deposits, financial funds and negotiable securities, to the extent that these are not restricted (with the exception of a restriction for the purpose of securing any financial debt according to this definition), or, together, the Series E Net Financial Debt, to (b) the Company Series E Adjusted Balance Sheet Equity, on a consolidated basis, plus the Series E Net Financial Debt, or the Company Series E CAP, Net (the &#x201c;Series E Ratio of Net Financial Debt to Series E CAP, Net&#x201d;), shall not exceed the rate of 65% for three consecutive quarters for purposes of the immediate repayment provision and shall not exceed a rate of 60% for purposes of the update of the annual interest provision; and&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;c.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
                                            ratio of (a) the Company Series E Net Financial Debt, to (b) the Company earnings before
                                            financial expenses, net, taxes, depreciation and amortization, where the revenues from the
                                            Company operations, such as the Talmei Yosef PV Plant, are calculated based on the fixed
                                            asset model and not based on the financial asset model (IFRIC 12), and before share-based
                                            payments, when the data of assets or projects whose Commercial Operation Date occurred in
                                            the four quarters that preceded the test date will be calculated based on Annual Gross Up
                                            (as such terms are defined in the Series E Deed of Trust), based on the aggregate four preceding
                                            quarters, or the Company Series E Adjusted EBITDA (the &#x201c;Series E Ratio of Net Financial
                                            Debt to Series E Adjusted EBITDA&#x201d;), shall not be higher than 12 for three consecutive
                                            quarters for purposes of the immediate repayment provision and shall not be higher than 11
                                            for purposes of the update of the annual interest provision.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Series E Deed of Trust further provides that the Company may make distributions (as such term is defined in the Companies Law, e.g. dividends),
to its shareholders, provided that: (a) the Company will not distribute more than 60% of the distributable profit, (b) the Company will
not distribute dividends based on profit due to revaluation (for the removal of doubt, negative goodwill will not be considered a revaluation
profit), (c) the Company are in compliance with all of its material undertakings to the holders of the Series E Secured Debentures, (d)
on the date of distribution and after the distribution no cause for immediate repayment exists and (e) the Company will not make a distribution
for as long as a &#x201c;warning sign&#x201d; (as such term is defined in the Israeli Securities Regulations) exists.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Company is also required to maintain the following financial ratios (which are calculated based on the same definitions applicable to
the financial covenants set forth above) after the distribution: (i) Series E Adjusted Balance Sheet Equity not lower than &#x20ac;90 million,
(ii) Series E Ratio of Net Financial Debt to Series E CAP, Net not to exceed 60%, and (iii) Series E Ratio of Net Financial Debt to Series
E Adjusted EBITDA, shall not be higher than 9, and not to make distributions if the Company do not meet all of its material obligations
to the holders of the Series E Secured Debentures and if on the date of distribution and after the distribution a cause for immediate
repayment exists.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;As
of December 31, 2023, the financial covenants were met.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;C.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;The aggregate annual maturities are as follows:&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December&#160;31&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December&#160;31&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Second year&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;35,212&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;37,779&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Third year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;28,692&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;37,792&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Fourth year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;13,625&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;16,143&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Fifth year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;13,657&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-174; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Sixth year and thereafter&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;13,701&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-175; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Long-term debentures&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;104,887&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;91,714&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Current maturities&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;35,200&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;18,714&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;140,087&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;110,428&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfDebtSecuritiesExplanatory>
    <ello:DisclosureOfDetailedInformationAboutDebenturesExplanatory contextRef="c0" id="ixv-31134">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Composed as follows:&lt;/b&gt;&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December
    31, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December
    31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Face
    value&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Carrying&lt;br/&gt;
    amount&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Face
    value&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Carrying&lt;br/&gt;
    amount&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Debentures&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;141,689&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;140,087&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;111,911&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;110,428&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Less
    current maturities&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;35,698&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;35,200&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;19,078&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;18,714&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total
    long-term debentures&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;105,991&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;104,887&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;92,833&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;91,714&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:DisclosureOfDetailedInformationAboutDebenturesExplanatory>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c468"
      decimals="-3"
      id="ixv-65727"
      unitRef="eur">141689000</ifrs-full:NotesAndDebenturesIssued>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c469"
      decimals="-3"
      id="ixv-65728"
      unitRef="eur">140087000</ifrs-full:NotesAndDebenturesIssued>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c470"
      decimals="-3"
      id="ixv-65729"
      unitRef="eur">111911000</ifrs-full:NotesAndDebenturesIssued>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c471"
      decimals="-3"
      id="ixv-65730"
      unitRef="eur">110428000</ifrs-full:NotesAndDebenturesIssued>
    <ifrs-full:CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued
      contextRef="c468"
      decimals="-3"
      id="ixv-65731"
      unitRef="eur">35698000</ifrs-full:CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued>
    <ifrs-full:CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued
      contextRef="c469"
      decimals="-3"
      id="ixv-65732"
      unitRef="eur">35200000</ifrs-full:CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued>
    <ifrs-full:CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued
      contextRef="c470"
      decimals="-3"
      id="ixv-65733"
      unitRef="eur">19078000</ifrs-full:CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued>
    <ifrs-full:CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued
      contextRef="c471"
      decimals="-3"
      id="ixv-65734"
      unitRef="eur">18714000</ifrs-full:CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued>
    <ifrs-full:NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued
      contextRef="c468"
      decimals="-3"
      id="ixv-65735"
      unitRef="eur">105991000</ifrs-full:NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued>
    <ifrs-full:NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued
      contextRef="c469"
      decimals="-3"
      id="ixv-65736"
      unitRef="eur">104887000</ifrs-full:NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued>
    <ifrs-full:NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued
      contextRef="c470"
      decimals="-3"
      id="ixv-65737"
      unitRef="eur">92833000</ifrs-full:NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued>
    <ifrs-full:NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued
      contextRef="c471"
      decimals="-3"
      id="ixv-65738"
      unitRef="eur">91714000</ifrs-full:NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c420"
      decimals="-3"
      id="ixv-65739"
      unitRef="ils">89065000</ifrs-full:NotesAndDebenturesIssued>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c421"
      decimals="-3"
      id="ixv-65740"
      unitRef="eur">22690000</ifrs-full:NotesAndDebenturesIssued>
    <ello:GrossProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c422"
      decimals="-3"
      id="ixv-65741"
      unitRef="ils">89065000</ello:GrossProceedsFromIssueOfBondsNotesAndDebentures>
    <ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c422"
      decimals="-3"
      id="ixv-65742"
      unitRef="ils">87600000</ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures>
    <ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c423"
      decimals="-3"
      id="ixv-65743"
      unitRef="eur">22317000</ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c424"
      decimals="-3"
      id="ixv-65744"
      unitRef="ils">154000000</ifrs-full:NotesAndDebenturesIssued>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c425"
      decimals="-3"
      id="ixv-65745"
      unitRef="eur">38500000</ifrs-full:NotesAndDebenturesIssued>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c426"
      decimals="-3"
      id="ixv-65746"
      unitRef="ils">385000000</ifrs-full:NotesAndDebenturesIssued>
    <ello:GrossProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c427"
      decimals="-3"
      id="ixv-65747"
      unitRef="ils">164200000</ello:GrossProceedsFromIssueOfBondsNotesAndDebentures>
    <ello:GrossProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c428"
      decimals="-3"
      id="ixv-65748"
      unitRef="eur">41100000</ello:GrossProceedsFromIssueOfBondsNotesAndDebentures>
    <ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c427"
      decimals="-3"
      id="ixv-65749"
      unitRef="ils">162400000</ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures>
    <ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c428"
      decimals="-3"
      id="ixv-65750"
      unitRef="eur">40300000</ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c429"
      decimals="-3"
      id="ixv-65751"
      unitRef="ils">100939000</ifrs-full:NotesAndDebenturesIssued>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c430"
      decimals="-3"
      id="ixv-65752"
      unitRef="eur">25442000</ifrs-full:NotesAndDebenturesIssued>
    <ello:GrossProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c431"
      decimals="-3"
      id="ixv-65753"
      unitRef="ils">102400000</ello:GrossProceedsFromIssueOfBondsNotesAndDebentures>
    <ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c431"
      decimals="-3"
      id="ixv-65754"
      unitRef="ils">101500000</ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures>
    <ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c432"
      decimals="-3"
      id="ixv-65755"
      unitRef="eur">25534000</ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c433"
      decimals="-3"
      id="ixv-65756"
      unitRef="ils">120000000</ifrs-full:NotesAndDebenturesIssued>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c434"
      decimals="-3"
      id="ixv-65757"
      unitRef="eur">32100000</ifrs-full:NotesAndDebenturesIssued>
    <ello:GrossProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c435"
      decimals="-3"
      id="ixv-65758"
      unitRef="ils">121600000</ello:GrossProceedsFromIssueOfBondsNotesAndDebentures>
    <ello:GrossProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c436"
      decimals="-3"
      id="ixv-65759"
      unitRef="eur">32529000</ello:GrossProceedsFromIssueOfBondsNotesAndDebentures>
    <ello:DebentureIssuedPerUnitPrice
      contextRef="c434"
      decimals="4"
      id="ixv-65760"
      unitRef="ilsPershares">1.0135</ello:DebentureIssuedPerUnitPrice>
    <ifrs-full:NotionalAmount
      contextRef="c437"
      decimals="-3"
      id="ixv-65761"
      unitRef="ils">100000000</ifrs-full:NotionalAmount>
    <ello:AggregateRepaymentOfDebenture
      contextRef="c438"
      decimals="-3"
      id="ixv-65762"
      unitRef="usd">3800000</ello:AggregateRepaymentOfDebenture>
    <ello:DebenturesPayableTerm contextRef="c439" id="ixv-31401">The
principal amount of Series C Debentures is repayable in five (5) unequal annual installments as follows: on June 30, 2021 10% of the
principal shall be paid, on June 30 of each of the years 2022 and 2023, 15% of the principal shall be paid and on June 30 of each of
the years 2024 and 2025, 30% of the principal shall be paid. The Series C Debentures originally bore a fixed interest at the rate of
3.3% per year (that is not linked to the Israeli CPI or otherwise), payable semi-annually on June 30 and December 31 commencing December
31, 2019 through June 30, 2025 (inclusive).</ello:DebenturesPayableTerm>
    <ello:IncreaseInPercentageOfInterest
      contextRef="c440"
      decimals="4"
      id="ixv-65763"
      unitRef="pure">0.0025</ello:IncreaseInPercentageOfInterest>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c441"
      decimals="3"
      id="ixv-65764"
      unitRef="pure">0.033</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c442"
      decimals="4"
      id="ixv-65765"
      unitRef="pure">0.0355</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c443"
      decimals="4"
      id="ixv-65766"
      unitRef="pure">0.0025</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c444"
      decimals="3"
      id="ixv-65767"
      unitRef="pure">0.005</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:Equity
      contextRef="c445"
      decimals="-6"
      id="ixv-65768"
      unitRef="eur">50000000</ifrs-full:Equity>
    <ello:AmountOfImmediateRepaymentProvision
      contextRef="c445"
      decimals="-3"
      id="ixv-65769"
      unitRef="eur">60000</ello:AmountOfImmediateRepaymentProvision>
    <ello:PercentageOfImmediateRepaymentProvision
      contextRef="c446"
      decimals="3"
      id="ixv-65770"
      unitRef="pure">0.675</ello:PercentageOfImmediateRepaymentProvision>
    <ello:PercentageOfInterestIncreaseProvision
      contextRef="c446"
      decimals="2"
      id="ixv-65771"
      unitRef="pure">0.60</ello:PercentageOfInterestIncreaseProvision>
    <ello:PercentageOfDistributableProfit
      contextRef="c447"
      decimals="2"
      id="ixv-65772"
      unitRef="pure">0.75</ello:PercentageOfDistributableProfit>
    <ifrs-full:Equity
      contextRef="c448"
      decimals="-6"
      id="ixv-65773"
      unitRef="eur">70000000</ifrs-full:Equity>
    <ello:PercentageOfEquityOnConsolidatedBasis
      contextRef="c449"
      decimals="2"
      id="ixv-65774"
      unitRef="pure">0.60</ello:PercentageOfEquityOnConsolidatedBasis>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c450"
      decimals="-3"
      id="ixv-65775"
      unitRef="ils">62000000</ifrs-full:NotesAndDebenturesIssued>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c451"
      decimals="-3"
      id="ixv-65776"
      unitRef="eur">15627000</ifrs-full:NotesAndDebenturesIssued>
    <ello:DebenturesPayableTerm contextRef="c452" id="ixv-65777">The principal amount of
the Series D Convertible Debentures is repayable in one installment on December 31, 2026. The Series D Convertible Debentures bear a
fixed interest at the rate of 1.2% per year (that is not linked to the Israeli CPI or otherwise), payable semi-annually on June 30 and
December 31 commencing June 30, 2021, through December 31, 2026 (inclusive).</ello:DebenturesPayableTerm>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c451"
      decimals="3"
      id="ixv-65778"
      unitRef="pure">0.012</ifrs-full:BorrowingsInterestRate>
    <ello:DebenturesConvertibleIntoOrdinarySharesParValuePerShare
      contextRef="c450"
      decimals="2"
      id="ixv-65779"
      unitRef="ilsPershares">10</ello:DebenturesConvertibleIntoOrdinarySharesParValuePerShare>
    <ello:DebtInstrumentConversionPrice
      contextRef="c450"
      decimals="0"
      id="ixv-65780"
      unitRef="ilsPershares">165</ello:DebtInstrumentConversionPrice>
    <ello:DebtInstrumentConversionPrice
      contextRef="c451"
      decimals="1"
      id="ixv-65781"
      unitRef="eurPershares">41.6</ello:DebtInstrumentConversionPrice>
    <ello:GrossProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c453"
      decimals="-3"
      id="ixv-65782"
      unitRef="ils">62600000</ello:GrossProceedsFromIssueOfBondsNotesAndDebentures>
    <ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c453"
      decimals="-3"
      id="ixv-65783"
      unitRef="ils">61800000</ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures>
    <ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c454"
      decimals="-3"
      id="ixv-65784"
      unitRef="eur">15577000</ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures>
    <ello:LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt
      contextRef="c450"
      decimals="-3"
      id="ixv-65785"
      unitRef="ils">7504000</ello:LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt>
    <ello:LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt
      contextRef="c451"
      decimals="-3"
      id="ixv-65786"
      unitRef="eur">1890000</ello:LongTermLiabilitiesRecognizedInConnectionWithConvertibleDebt>
    <ifrs-full:Liabilities
      contextRef="c455"
      decimals="-3"
      id="ixv-65787"
      unitRef="eur">82000</ifrs-full:Liabilities>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c456"
      decimals="4"
      id="ixv-65788"
      unitRef="pure">0.0025</ifrs-full:BorrowingsInterestRate>
    <ello:DecreaseInAnnualInterestRateForDebentures
      contextRef="c454"
      decimals="4"
      id="ixv-65789"
      unitRef="pure">0.0075</ello:DecreaseInAnnualInterestRateForDebentures>
    <ello:AmountOfExpansionOfAggregateParValueOfDebentures
      contextRef="c454"
      decimals="-6"
      id="ixv-65790"
      unitRef="ils">200000000</ello:AmountOfExpansionOfAggregateParValueOfDebentures>
    <ifrs-full:Equity
      contextRef="c451"
      decimals="-6"
      id="ixv-65791"
      unitRef="eur">70000000</ifrs-full:Equity>
    <ello:AmountOfImmediateRepaymentProvision
      contextRef="c451"
      decimals="-3"
      id="ixv-65792"
      unitRef="eur">75000</ello:AmountOfImmediateRepaymentProvision>
    <ello:PercentageOfImmediateRepaymentProvision
      contextRef="c457"
      decimals="2"
      id="ixv-65793"
      unitRef="pure">0.68</ello:PercentageOfImmediateRepaymentProvision>
    <ello:PercentageOfInterestIncreaseProvision
      contextRef="c457"
      decimals="2"
      id="ixv-65794"
      unitRef="pure">0.60</ello:PercentageOfInterestIncreaseProvision>
    <ello:AmountOfAdjustmentOfBalanceSheetEquity
      contextRef="c458"
      decimals="-6"
      id="ixv-65795"
      unitRef="usd">85000000</ello:AmountOfAdjustmentOfBalanceSheetEquity>
    <ello:PercentageOfEquityOnConsolidatedBasis
      contextRef="c458"
      decimals="2"
      id="ixv-65796"
      unitRef="pure">0.60</ello:PercentageOfEquityOnConsolidatedBasis>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c459"
      decimals="-6"
      id="ixv-65797"
      unitRef="ils">220000000</ifrs-full:NotesAndDebenturesIssued>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="c459"
      decimals="-5"
      id="ixv-65798"
      unitRef="eur">58500000</ifrs-full:NotesAndDebenturesIssued>
    <ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c460"
      decimals="-6"
      id="ixv-65799"
      unitRef="ils">218000000</ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures>
    <ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures
      contextRef="c460"
      decimals="-6"
      id="ixv-65800"
      unitRef="eur">56000000</ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures>
    <ifrs-full:ProportionOfOwnershipInterestInAssociate
      contextRef="c461"
      decimals="2"
      id="ixv-65801"
      unitRef="pure">0.50</ifrs-full:ProportionOfOwnershipInterestInAssociate>
    <ifrs-full:ProportionOfOwnershipInterestInAssociate
      contextRef="c462"
      decimals="4"
      id="ixv-65802"
      unitRef="pure">0.1875</ifrs-full:ProportionOfOwnershipInterestInAssociate>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c459"
      decimals="4"
      id="ixv-65803"
      unitRef="pure">0.0605</ifrs-full:BorrowingsInterestRate>
    <ello:IncreaseInPercentageOfInterest
      contextRef="c463"
      decimals="4"
      id="ixv-65804"
      unitRef="pure">0.0025</ello:IncreaseInPercentageOfInterest>
    <ello:IncreaseInPercentageOfInterest
      contextRef="c464"
      decimals="4"
      id="ixv-65805"
      unitRef="pure">0.0075</ello:IncreaseInPercentageOfInterest>
    <ifrs-full:Equity
      contextRef="c459"
      decimals="-6"
      id="ixv-65806"
      unitRef="eur">75000000</ifrs-full:Equity>
    <ello:AmountOfImmediateRepaymentProvision contextRef="c459" decimals="0" id="ixv-65807" unitRef="eur">80</ello:AmountOfImmediateRepaymentProvision>
    <ello:PercentageOfImmediateRepaymentProvision
      contextRef="c465"
      decimals="2"
      id="ixv-65808"
      unitRef="pure">0.65</ello:PercentageOfImmediateRepaymentProvision>
    <ello:PercentageOfInterestIncreaseProvision
      contextRef="c465"
      decimals="2"
      id="ixv-65809"
      unitRef="pure">0.60</ello:PercentageOfInterestIncreaseProvision>
    <ello:PercentageOfDistributableProfit
      contextRef="c459"
      decimals="2"
      id="ixv-65810"
      unitRef="pure">0.60</ello:PercentageOfDistributableProfit>
    <ifrs-full:Equity
      contextRef="c466"
      decimals="-6"
      id="ixv-65811"
      unitRef="eur">90000000</ifrs-full:Equity>
    <ello:PercentageOfEquityOnConsolidatedBasis
      contextRef="c467"
      decimals="2"
      id="ixv-65812"
      unitRef="pure">0.60</ello:PercentageOfEquityOnConsolidatedBasis>
    <ello:DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures contextRef="c0" id="ixv-31964">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;The aggregate annual maturities are as follows:&lt;/b&gt;&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December&#160;31&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December&#160;31&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Second year&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;35,212&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;37,779&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Third year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;28,692&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;37,792&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Fourth year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;13,625&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;16,143&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Fifth year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;13,657&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-174; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Sixth year and thereafter&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;13,701&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-175; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Long-term debentures&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;104,887&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;91,714&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Current maturities&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;35,200&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;18,714&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;140,087&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;110,428&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:DisclosureOfDetailedInformationAboutAggregateAnnualMaturitiesOfDebentures>
    <ifrs-full:LongtermBorrowings
      contextRef="c472"
      decimals="-3"
      id="ixv-65813"
      unitRef="eur">35212000</ifrs-full:LongtermBorrowings>
    <ifrs-full:LongtermBorrowings
      contextRef="c473"
      decimals="-3"
      id="ixv-65814"
      unitRef="eur">37779000</ifrs-full:LongtermBorrowings>
    <ifrs-full:LongtermBorrowings
      contextRef="c474"
      decimals="-3"
      id="ixv-65815"
      unitRef="eur">28692000</ifrs-full:LongtermBorrowings>
    <ifrs-full:LongtermBorrowings
      contextRef="c475"
      decimals="-3"
      id="ixv-65816"
      unitRef="eur">37792000</ifrs-full:LongtermBorrowings>
    <ifrs-full:LongtermBorrowings
      contextRef="c476"
      decimals="-3"
      id="ixv-65817"
      unitRef="eur">13625000</ifrs-full:LongtermBorrowings>
    <ifrs-full:LongtermBorrowings
      contextRef="c477"
      decimals="-3"
      id="ixv-65818"
      unitRef="eur">16143000</ifrs-full:LongtermBorrowings>
    <ifrs-full:LongtermBorrowings
      contextRef="c478"
      decimals="-3"
      id="ixv-65819"
      unitRef="eur">13657000</ifrs-full:LongtermBorrowings>
    <ifrs-full:LongtermBorrowings
      contextRef="c480"
      decimals="-3"
      id="ixv-65820"
      unitRef="eur">13701000</ifrs-full:LongtermBorrowings>
    <ifrs-full:LongtermBorrowings contextRef="c2" decimals="-3" id="ixv-65821" unitRef="eur">104887000</ifrs-full:LongtermBorrowings>
    <ifrs-full:LongtermBorrowings contextRef="c3" decimals="-3" id="ixv-65822" unitRef="eur">91714000</ifrs-full:LongtermBorrowings>
    <ifrs-full:CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued contextRef="c2" decimals="-3" id="ixv-65823" unitRef="eur">35200000</ifrs-full:CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued>
    <ifrs-full:CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued contextRef="c3" decimals="-3" id="ixv-65824" unitRef="eur">18714000</ifrs-full:CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued>
    <ello:LongtermLoans contextRef="c2" decimals="-3" id="ixv-65825" unitRef="eur">140087000</ello:LongtermLoans>
    <ello:LongtermLoans contextRef="c3" decimals="-3" id="ixv-65826" unitRef="eur">110428000</ello:LongtermLoans>
    <ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory contextRef="c0" id="ixv-32186">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Note
13 - Other Long-term Liabilities&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December&#160;31&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December&#160;31&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Warrants Liability (see Note 16)&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;84&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;329&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Other liabilities&lt;sup&gt;(1)&lt;/sup&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;793&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,626&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Liabilities for employee&#x2019;s
    benefits&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;62&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;66&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;939&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;Represents the long-term portion of the potential liability
in connection with the acquisition of rights in the Manara PSP. See Note 6B.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory>
    <ello:DisclosureOfDetailedInformationAboutOtherLongTermLiabilitiesExplanatory contextRef="c0" id="ixv-32193">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December&#160;31&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December&#160;31&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Warrants Liability (see Note 16)&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;84&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;329&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Other liabilities&lt;sup&gt;(1)&lt;/sup&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;793&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,626&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Liabilities for employee&#x2019;s
    benefits&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;62&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;66&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;939&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;Represents the long-term portion of the potential liability
in connection with the acquisition of rights in the Manara PSP. See Note 6B.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ello:DisclosureOfDetailedInformationAboutOtherLongTermLiabilitiesExplanatory>
    <ifrs-full:WarrantLiability contextRef="c2" decimals="-3" id="ixv-65827" unitRef="eur">84000</ifrs-full:WarrantLiability>
    <ifrs-full:WarrantLiability contextRef="c3" decimals="-3" id="ixv-65828" unitRef="eur">329000</ifrs-full:WarrantLiability>
    <ifrs-full:OtherLiabilities contextRef="c2" decimals="-3" id="ix_84_fact" unitRef="eur">793000</ifrs-full:OtherLiabilities>
    <ifrs-full:OtherLiabilities contextRef="c3" decimals="-3" id="ix_85_fact" unitRef="eur">1626000</ifrs-full:OtherLiabilities>
    <ifrs-full:NoncurrentProvisionsForEmployeeBenefits contextRef="c2" decimals="-3" id="ixv-65831" unitRef="eur">62000</ifrs-full:NoncurrentProvisionsForEmployeeBenefits>
    <ifrs-full:NoncurrentProvisionsForEmployeeBenefits contextRef="c3" decimals="-3" id="ixv-65832" unitRef="eur">66000</ifrs-full:NoncurrentProvisionsForEmployeeBenefits>
    <ifrs-full:OtherNoncurrentFinancialLiabilities contextRef="c2" decimals="-3" id="ixv-65833" unitRef="eur">939000</ifrs-full:OtherNoncurrentFinancialLiabilities>
    <ifrs-full:OtherNoncurrentFinancialLiabilities contextRef="c3" decimals="-3" id="ixv-65834" unitRef="eur">2021000</ifrs-full:OtherNoncurrentFinancialLiabilities>
    <ifrs-full:DisclosureOfLeasesExplanatory contextRef="c0" id="ixv-32349">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Note
14 - Leases&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Leases
in which the Company is the lessee&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Company has lease agreements with respect to the following items:&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;1.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Lands;
                                            and&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
                                                                &lt;/table&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Machinery
                                            equipment.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;1.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Information
                                            regarding material lease agreements&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2cm; text-align: justify"&gt;Ellomay PS leases land in Israel from
private lessors for a period of 24 years and 11 months, on which the Manara PSP is constructed. The contractual period of the aforesaid
lease agreements ends in July 2046. Ellomay PS paid capitalized rents in the total amount of NIS 28,800 thousand (approximately &#x20ac;7,758
thousand) to the private lessors, not including VAT. The discounted rent is linked to the Israeli CPI and constitutes an advance payment
for the entire rental period. In addition, Ellomay PS will pay a regular quarterly rent of approximately NIS 165 thousand per quarter,
not including VAT. The quarterly rent will increase by 2% every 3 years and is linked to the Israeli CPI. A lease liability in the amount
of &#x20ac;10,629 thousand and right-of-use asset in the amount of &#x20ac;10,629 thousand have been recognized in the statement of financial
position in April 2021 in respect of the Manara PSP&#x2019;s leases of land.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;2.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Information
                                            regarding material lease agreements entered into during the period&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Ellomay
Solar Italy Seven SRL and Ellomay Solar Italy Nine SRL lease land in Italy from private lessors for a period of 31 years. The contractual
period of the aforesaid lease agreements ends between March 2054 until May 2054. They will pay a regular annual rent of approximately
&#x20ac;208 thousand, not including VAT and capitalized rents in the total amount of &#x20ac;397 thousand. The annual rent is linked to the
Italian CPI. A lease liability in the amount of &#x20ac;2,527 thousand and right-of-use asset in the amount of &#x20ac;2,527 thousand have
been recognized in 2023 in respect of these leases of land.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Fairfield
Solar LLC, Mexia Solar I LLC, Mexia Solar II LLC, Malakoff Solar I LLC, Malakoff Solar II LLC, and Talco Solar LLC lease land in the
vicinity of Texas, Dallas, USA from private lessors for 25-35 years. The contractual period of the aforesaid lease agreements ends between
February 2048 and September 2058. They will pay a regular annual rent of approximately &#x20ac;207 thousand, not including VAT, commencing
the beginning of operations. The annual rent increases by 2.0% every year. A lease liability in the amount of &#x20ac;2,142 thousand and
right-of-use asset in the amount of &#x20ac;2,142 thousand have been recognized in 2023 in respect of these leases of land.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;3.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Right-of-use assets&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Bio
                                            Gas&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Italy&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Spain&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Talasol&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Pumped&lt;br/&gt;
    storage&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;USA&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Talmei
                                            &lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Yosef&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="30" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; width: 20%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance
    as at January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;46&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;8,733&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,314&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;7,183&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;10,413&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-177; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,331&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;30,020&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Lease
    agreements entered into during the period&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-178; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,527&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-179; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-180; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-181; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,142&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-182; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4,669&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Depreciation
    for the year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(26&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(262&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(126&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(455&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(429&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(24&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(111&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,433&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-183; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,472&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;139&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;867&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;110&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-184; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;69&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(287&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Effect
    of changes in exchange rates&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-185; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-186; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-187; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-188; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(669&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(44&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(85&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(798&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Transfer
    to disposal groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-189; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-190; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-191; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-192; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-193; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-194; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,204&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,204&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance
    as at December 31, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;20&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;9,526&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,327&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;7,595&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;9,425&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,074&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-195; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;30,967&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Bio
                                            Gas&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Italy&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Spain&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Talasol&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Pumped&lt;br/&gt;
    storage&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Talmei
                                            &lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Yosef&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="26" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; width: 30%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance
    as at January 1, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;170&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-196; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,755&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;7,587&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;11,352&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,503&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;23,367&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Lease
    agreements entered into during the period&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-197; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;8,861&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-198; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-199; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-200; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-201; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;8,861&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Depreciation
    for the year&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(124&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(128&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(120&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(404&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(473&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(117&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,366&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-202; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-203; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(321&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-204; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;228&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;36&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(57&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Effect
    of changes in exchange rates&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-205; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-206; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-207; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-208; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(694&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(91&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(785&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance
    as at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;46&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;8,733&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,314&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;7,183&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;10,413&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,331&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;30,020&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;4.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Lease
                                            liability&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Maturity
analysis of the Company&#x2019;s lease liabilities&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December&#160;31,&lt;br/&gt;
    2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;&#160;in&#160;thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Less than one year&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;700&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;One to five years&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,970&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;More than five years&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;20,710&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;24,380&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Current maturities of
    lease liability&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;700&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Long-term lease liability&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;23,680&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;5.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Additional
                                            information on leases&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;(a)&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Amounts recognized in profit or loss&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;



&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Depreciation on right-of-use asset&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;718&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;743&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;774&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Interest expenses on lease
    liability&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;407&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;370&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;367&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;*&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
remainder of the depreciation and the interest is capitalized to fixed assets.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Including
the amounts of &#x20ac;111 thousand, &#x20ac;117 thousand and &#x20ac;110 thousand recorded in the depreciation expenses that were presented
as a discontinued operation and classified as held for sale for 2023, 2022 and 2021, respectively.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Including
the amounts of &#x20ac;66 thousand, &#x20ac;74 thousand and &#x20ac;73 thousand recorded in the interest expenses on lease liability that were
presented as a discontinued operation and classified as held for sale for 2023, 2022 and 2021, respectively.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;(b)&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Short-term
                                            leases&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;As
mentioned in Note 3F regarding material accounting policies, the Company, in accordance with the practical expedient, accounts for short-term
leases and leases of low-value assets as expenses on a straight-line basis over the lease term, instead of a right-of-use asset and lease
liability. These leases include office space in the amount of approximately &#x20ac;262 thousand.&lt;/span&gt;&lt;/p&gt;</ifrs-full:DisclosureOfLeasesExplanatory>
    <ello:OperatingLeaseAgreementTerm contextRef="c482" id="ixv-65836">24 years and 11 months</ello:OperatingLeaseAgreementTerm>
    <ello:LeaseExpireDates contextRef="c482" id="ixv-65837">July 2046</ello:LeaseExpireDates>
    <ello:CapitalizedRent
      contextRef="c482"
      decimals="-3"
      id="ixv-65838"
      unitRef="ils">28800000</ello:CapitalizedRent>
    <ello:CapitalizedRent
      contextRef="c482"
      decimals="-3"
      id="ixv-65839"
      unitRef="eur">7758000</ello:CapitalizedRent>
    <ello:QuarterlyRent
      contextRef="c482"
      decimals="-3"
      id="ixv-65840"
      unitRef="ils">165000</ello:QuarterlyRent>
    <ello:RentPercentage contextRef="c0" decimals="2" id="ixv-65841" unitRef="pure">0.02</ello:RentPercentage>
    <ello:RentalTerms contextRef="c2" id="ixv-65842">P3Y</ello:RentalTerms>
    <ifrs-full:LeaseLiabilities
      contextRef="c483"
      decimals="-3"
      id="ixv-65843"
      unitRef="eur">10629000</ifrs-full:LeaseLiabilities>
    <ifrs-full:RightofuseAssets
      contextRef="c483"
      decimals="-3"
      id="ixv-65844"
      unitRef="eur">10629000</ifrs-full:RightofuseAssets>
    <ello:OperatingLeaseAgreementTerm contextRef="c484" id="ixv-65845">31 years</ello:OperatingLeaseAgreementTerm>
    <ello:PaymentToLeaseLiability
      contextRef="c484"
      decimals="-3"
      id="ixv-65846"
      unitRef="eur">208000</ello:PaymentToLeaseLiability>
    <ello:CapitalizedRent
      contextRef="c484"
      decimals="-3"
      id="ixv-65847"
      unitRef="eur">397000</ello:CapitalizedRent>
    <ifrs-full:LeaseLiabilities
      contextRef="c485"
      decimals="-3"
      id="ixv-65848"
      unitRef="eur">2527000</ifrs-full:LeaseLiabilities>
    <ello:PaymentToLeaseLiability contextRef="c0" decimals="-3" id="ixv-65849" unitRef="eur">2527000</ello:PaymentToLeaseLiability>
    <ello:OperatingLeaseAgreementTerm contextRef="c486" id="ixv-65850">25-35 years</ello:OperatingLeaseAgreementTerm>
    <ello:AnnualRent
      contextRef="c486"
      decimals="-3"
      id="ixv-65851"
      unitRef="eur">207000</ello:AnnualRent>
    <ello:AnnualRentIncreasesPercentage contextRef="c0" decimals="3" id="ixv-65852" unitRef="pure">0.02</ello:AnnualRentIncreasesPercentage>
    <ifrs-full:LeaseLiabilities
      contextRef="c487"
      decimals="-3"
      id="ixv-65853"
      unitRef="eur">2142000</ifrs-full:LeaseLiabilities>
    <ello:RightofuseAsset contextRef="c0" decimals="-3" id="ixv-65854" unitRef="eur">2142000</ello:RightofuseAsset>
    <ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory contextRef="c0" id="ixv-32464">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Right-of-use assets&lt;/b&gt;&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Bio
                                            Gas&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Italy&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Spain&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Talasol&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Pumped&lt;br/&gt;
    storage&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;USA&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Talmei
                                            &lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Yosef&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="30" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; width: 20%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance
    as at January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;46&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;8,733&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,314&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;7,183&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;10,413&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-177; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,331&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;30,020&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Lease
    agreements entered into during the period&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-178; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,527&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-179; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-180; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-181; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,142&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-182; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4,669&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Depreciation
    for the year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(26&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(262&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(126&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(455&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(429&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(24&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(111&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,433&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-183; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,472&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;139&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;867&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;110&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-184; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;69&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(287&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Effect
    of changes in exchange rates&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-185; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-186; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-187; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-188; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(669&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(44&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(85&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(798&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Transfer
    to disposal groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-189; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-190; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-191; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-192; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-193; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-194; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,204&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,204&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance
    as at December 31, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;20&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;9,526&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,327&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;7,595&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;9,425&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,074&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-195; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;30,967&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Bio
                                            Gas&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Italy&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Spain&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Talasol&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Pumped&lt;br/&gt;
    storage&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Talmei
                                            &lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Yosef&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="font: 10pt Times New Roman, Times, Serif; padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/span&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="26" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; width: 30%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance
    as at January 1, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;170&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-196; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,755&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;7,587&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;11,352&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,503&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;23,367&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Lease
    agreements entered into during the period&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-197; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;8,861&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-198; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-199; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-200; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-201; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;8,861&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Depreciation
    for the year&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(124&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(128&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(120&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(404&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(473&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(117&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,366&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-202; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-203; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(321&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-204; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;228&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;36&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(57&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Effect
    of changes in exchange rates&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-205; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-206; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-207; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-208; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(694&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
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    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;46&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
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    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,314&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;7,183&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;10,413&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,331&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;30,020&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;</ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory>
    <ifrs-full:RightofuseAssets
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      decimals="-3"
      id="ixv-65855"
      unitRef="eur">46000</ifrs-full:RightofuseAssets>
    <ifrs-full:RightofuseAssets
      contextRef="c493"
      decimals="-3"
      id="ixv-65856"
      unitRef="eur">8733000</ifrs-full:RightofuseAssets>
    <ifrs-full:RightofuseAssets
      contextRef="c494"
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      id="ixv-65857"
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    <ifrs-full:RightofuseAssets
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      id="ixv-65858"
      unitRef="eur">7183000</ifrs-full:RightofuseAssets>
    <ifrs-full:RightofuseAssets
      contextRef="c496"
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      unitRef="eur">10413000</ifrs-full:RightofuseAssets>
    <ifrs-full:RightofuseAssets
      contextRef="c498"
      decimals="-3"
      id="ixv-65860"
      unitRef="eur">1331000</ifrs-full:RightofuseAssets>
    <ifrs-full:RightofuseAssets
      contextRef="c499"
      decimals="-3"
      id="ixv-65861"
      unitRef="eur">30020000</ifrs-full:RightofuseAssets>
    <ello:LeaseAgreementsRightOfUseAssets
      contextRef="c501"
      decimals="-3"
      id="ixv-65862"
      unitRef="eur">2527000</ello:LeaseAgreementsRightOfUseAssets>
    <ello:LeaseAgreementsRightOfUseAssets
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      id="ixv-65863"
      unitRef="eur">2142000</ello:LeaseAgreementsRightOfUseAssets>
    <ello:LeaseAgreementsRightOfUseAssets
      contextRef="c507"
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      id="ixv-65864"
      unitRef="eur">4669000</ello:LeaseAgreementsRightOfUseAssets>
    <ifrs-full:DepreciationRightofuseAssets
      contextRef="c500"
      decimals="-3"
      id="ixv-65865"
      unitRef="eur">26000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets
      contextRef="c501"
      decimals="-3"
      id="ixv-65866"
      unitRef="eur">262000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets
      contextRef="c502"
      decimals="-3"
      id="ixv-65867"
      unitRef="eur">126000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets
      contextRef="c503"
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      id="ixv-65868"
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    <ifrs-full:DepreciationRightofuseAssets
      contextRef="c504"
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      id="ixv-65869"
      unitRef="eur">429000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets
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      decimals="-3"
      id="ixv-65870"
      unitRef="eur">24000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets
      contextRef="c506"
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      id="ixv-65871"
      unitRef="eur">111000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets
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      decimals="-3"
      id="ixv-65872"
      unitRef="eur">1433000</ifrs-full:DepreciationRightofuseAssets>
    <ello:OtherRightOfUseAssets
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      decimals="-3"
      id="ixv-65873"
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      contextRef="c502"
      decimals="-3"
      id="ixv-65874"
      unitRef="eur">139000</ello:OtherRightOfUseAssets>
    <ello:OtherRightOfUseAssets
      contextRef="c503"
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      id="ixv-65875"
      unitRef="eur">867000</ello:OtherRightOfUseAssets>
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      id="ixv-65876"
      unitRef="eur">110000</ello:OtherRightOfUseAssets>
    <ello:OtherRightOfUseAssets
      contextRef="c506"
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      id="ixv-65877"
      unitRef="eur">69000</ello:OtherRightOfUseAssets>
    <ello:OtherRightOfUseAssets
      contextRef="c507"
      decimals="-3"
      id="ixv-65878"
      unitRef="eur">-287000</ello:OtherRightOfUseAssets>
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      id="ixv-65879"
      unitRef="eur">-669000</ello:EffectOfChangesInExchangeRatesToRightOfUseAssets>
    <ello:EffectOfChangesInExchangeRatesToRightOfUseAssets
      contextRef="c505"
      decimals="-3"
      id="ixv-65880"
      unitRef="eur">-44000</ello:EffectOfChangesInExchangeRatesToRightOfUseAssets>
    <ello:EffectOfChangesInExchangeRatesToRightOfUseAssets
      contextRef="c506"
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      id="ixv-65881"
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    <ello:EffectOfChangesInExchangeRatesToRightOfUseAssets
      contextRef="c507"
      decimals="-3"
      id="ixv-65882"
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    <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale
      contextRef="c514"
      decimals="-3"
      id="ixv-65883"
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    <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale
      contextRef="c515"
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      contextRef="c508"
      decimals="-3"
      id="ixv-65885"
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    <ifrs-full:RightofuseAssets
      contextRef="c509"
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      id="ixv-65886"
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    <ifrs-full:RightofuseAssets
      contextRef="c510"
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      id="ixv-65887"
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    <ifrs-full:RightofuseAssets
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      id="ixv-65888"
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    <ifrs-full:RightofuseAssets
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    <ifrs-full:RightofuseAssets
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      id="ixv-65909"
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      contextRef="c528"
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      contextRef="c529"
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    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;December&#160;31,&lt;br/&gt;
    2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;&#160;in&#160;thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Less than one year&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;700&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;One to five years&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,970&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;More than five years&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;20,710&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;24,380&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Current maturities of
    lease liability&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;700&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Long-term lease liability&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;23,680&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory>
    <ifrs-full:LeaseLiabilities
      contextRef="c530"
      decimals="-3"
      id="ixv-65921"
      unitRef="eur">700000</ifrs-full:LeaseLiabilities>
    <ifrs-full:LeaseLiabilities
      contextRef="c531"
      decimals="-3"
      id="ixv-65922"
      unitRef="eur">2970000</ifrs-full:LeaseLiabilities>
    <ifrs-full:LeaseLiabilities
      contextRef="c532"
      decimals="-3"
      id="ixv-65923"
      unitRef="eur">20710000</ifrs-full:LeaseLiabilities>
    <ifrs-full:LeaseLiabilities contextRef="c2" decimals="-3" id="ixv-65924" unitRef="eur">24380000</ifrs-full:LeaseLiabilities>
    <ifrs-full:CurrentLeaseLiabilities contextRef="c2" decimals="-3" id="ixv-65925" unitRef="eur">700000</ifrs-full:CurrentLeaseLiabilities>
    <ifrs-full:NoncurrentLeaseLiabilities contextRef="c2" decimals="-3" id="ixv-65926" unitRef="eur">23680000</ifrs-full:NoncurrentLeaseLiabilities>
    <ifrs-full:DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory contextRef="c0" id="ixv-33656">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Amounts recognized in profit or loss&lt;/b&gt;&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Depreciation on right-of-use asset&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;718&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;743&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;774&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Interest expenses on lease
    liability&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;407&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;370&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;367&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;*&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
remainder of the depreciation and the interest is capitalized to fixed assets.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory>
    <ifrs-full:DepreciationRightofuseAssets contextRef="c0" decimals="-3" id="ix_86_fact" unitRef="eur">718000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets contextRef="c4" decimals="-3" id="ix_87_fact" unitRef="eur">743000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets contextRef="c5" decimals="-3" id="ix_88_fact" unitRef="eur">774000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:InterestExpenseOnLeaseLiabilities contextRef="c0" decimals="-3" id="ix_89_fact" unitRef="eur">407000</ifrs-full:InterestExpenseOnLeaseLiabilities>
    <ifrs-full:InterestExpenseOnLeaseLiabilities contextRef="c4" decimals="-3" id="ix_90_fact" unitRef="eur">370000</ifrs-full:InterestExpenseOnLeaseLiabilities>
    <ifrs-full:InterestExpenseOnLeaseLiabilities contextRef="c5" decimals="-3" id="ix_91_fact" unitRef="eur">367000</ifrs-full:InterestExpenseOnLeaseLiabilities>
    <ifrs-full:DepreciationExpense
      contextRef="c488"
      decimals="-3"
      id="ixv-65933"
      unitRef="eur">111000</ifrs-full:DepreciationExpense>
    <ifrs-full:DepreciationExpense
      contextRef="c489"
      decimals="-3"
      id="ixv-65934"
      unitRef="eur">117000</ifrs-full:DepreciationExpense>
    <ifrs-full:DepreciationExpense
      contextRef="c490"
      decimals="-3"
      id="ixv-65935"
      unitRef="eur">110000</ifrs-full:DepreciationExpense>
    <ifrs-full:InterestExpenseOnLeaseLiabilities contextRef="c0" decimals="-3" id="ixv-65936" unitRef="ils">66000</ifrs-full:InterestExpenseOnLeaseLiabilities>
    <ifrs-full:InterestExpenseOnLeaseLiabilities contextRef="c4" decimals="-3" id="ixv-65937" unitRef="ils">74000</ifrs-full:InterestExpenseOnLeaseLiabilities>
    <ifrs-full:InterestExpenseOnLeaseLiabilities contextRef="c5" decimals="-3" id="ixv-65938" unitRef="ils">73000</ifrs-full:InterestExpenseOnLeaseLiabilities>
    <ello:PaymentToLeaseLiability
      contextRef="c491"
      decimals="-3"
      id="ixv-65939"
      unitRef="eur">262000</ello:PaymentToLeaseLiability>
    <ifrs-full:DisclosureOfRelatedPartyExplanatory contextRef="c0" id="ixv-33810">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Note
15 - Transactions and Balances with Related Parties&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;A.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;On December 30, 2008, the Company&#x2019;s shareholders approved the terms of a management services agreement entered into among the Company, Kanir Joint Investments (2005) Limited Partnership (&#x201c;Kanir&#x201d;), the one of the Company&#x2019;s controlling shareholders, and Meisaf Blue &amp;amp; White Holdings Ltd. (&#x201c;Meisaf&#x201d;), a company controlled by the Company&#x2019;s chairman of the board and controlling shareholder, effective as of March 31, 2008 (the &#x201c;Previous Management Agreement&#x201d;). The aggregate annual management fee under the Previous Management Agreement, as updated, was $400 thousand.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;At
the annual shareholders meeting held on August 12, 2021, the Company&#x2019;s shareholders approved, following the approval by the Audit
and Compensation Committee and Board of Directors, an Amended and Restated Management Services Agreement, effective July 1, 2021 (the
&#x201c;Management Agreement&#x201d;), which provides, among other things, for the payment of NIS 1,386 thousand, (approximately &#x20ac;345
thousand) per year to Meisaf in consideration for the services provided by Meisaf, including the service of Mr. Nehama as the Company
Chairman of the Board in no less than a 77% position, and the payment of NIS 1,800 million (approximately &#x20ac;449 thousand) per year
to Kanir and Keystone R.P. Holdings and Investments Ltd., a private company wholly-owned by Mr. Ran Fridrich (&#x201c;Keystone&#x201d;)
(in an initial allocation of NIS 0.66 million to Kanir and NIS 1.14 million to Keystone) in consideration for service provided by these
entities, including the service of Mr. Fridrich as the Company Chief Executive Officer in a full-time position and as a Board member.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Pursuant
to the Management Agreement, Meisaf, Kanir and Keystone, through their employees, officers and directors, will assist the Company in
all aspects of the management of the Company and advise as required from time to time by the Company, including provision of Chairman,
CEO and Board services as detailed above. The Management Agreement is valid until June 30, 2024 or until its earlier termination in accordance
with its terms.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Company sub-leases a small part of its office space to a company controlled by Mr. Shlomo Nehama, the Company&#x2019;s chairman of the
Board and a controlling shareholder, at a price per square meter based on the price that it pays under its lease agreements. This sub-lease
agreement was approved by the Company&#x2019;s Board of Directors.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company employs the son of Mr.
Shlomo Nehama as a project manager in connection with the development activities of photovoltaic plants in Texas, USA. The annual cost
of employment of Mr. Nehama&#x2019;s son, for the year ended December 31, 2023, as approved by the Company&#x2019;s shareholders, is approximately
NIS 239 thousand (approximately &#x20ac;60&#160;thousand).&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;B.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Compensation
                                            to key management personnel and interested parties (including directors)&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Certain
directors and officers participate in the Company&#x2019;s share option programs. For further information see Note 17 regarding share-based
payments.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.55pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Compensation
to key management personnel and interested parties that are employed by, or provide consulting services to, the Company:&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="22" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Year
    ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Number of&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Number of&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Number of&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;People&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Amount&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;People&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Amount&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;People&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Amount&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 28%; text-align: left"&gt;Short-term &lt;span style="font-family: Times New Roman, Times, Serif"&gt;Benefits&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&#160;&#160;&#160;&#160;&#160;703&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&#160;&#160;&#160;&#160;&#160;994&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&#160;&#160;&#160;&#160;&#160;763&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Post-employment Benefits&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;66&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;72&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;61&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Share-based payments&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;80&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;69&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;68&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Compensation
to directors (excluding compensation paid under the Management Agreement):&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="22" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Year
    ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Number of&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Number of&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Number of&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;people&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Amount&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;people&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Amount&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;People&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Amount&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&#160;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; width: 28%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total compensation to directors
    not employed by the Company&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;80&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;90&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: center"&gt;4&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;72&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Share-based payments&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;28&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;36&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;10&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;C.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Debts and loans to related and interested parties&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Interest
    income recognized in &lt;br/&gt;
statement of&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="5" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;The terms of the loan&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance
    as at December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;income
    for the year ended &lt;br/&gt;
December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Interest&lt;/span&gt;&lt;br/&gt;
&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Linkage&lt;/span&gt;&lt;br/&gt;
&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;rate&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;base&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 16%; text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Ellomay Luzon
    Energy&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; padding-bottom: 4pt; text-align: right"&gt;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;8.1&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(*)&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 11%; text-align: center; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;NIS+ Israeli
    CPI&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&lt;span style="-sec-ix-hidden: hidden-fact-209; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,665&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;267&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,398&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;821&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(*)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;See Note 6A regarding the conversion of approximately NIS 46,933 thousand of the shareholders loans (of which the Company&#x2019;s portion is approximately NIS 23,467 thousand) to capital notes.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfRelatedPartyExplanatory>
    <ifrs-full:ServicesReceivedRelatedPartyTransactions
      contextRef="c533"
      decimals="-3"
      id="ixv-65940"
      unitRef="usd">400000</ifrs-full:ServicesReceivedRelatedPartyTransactions>
    <ifrs-full:ServicesReceivedRelatedPartyTransactions
      contextRef="c534"
      decimals="-3"
      id="ixv-65941"
      unitRef="ils">1386000</ifrs-full:ServicesReceivedRelatedPartyTransactions>
    <ifrs-full:ServicesReceivedRelatedPartyTransactions
      contextRef="c534"
      decimals="-3"
      id="ixv-65942"
      unitRef="eur">345000</ifrs-full:ServicesReceivedRelatedPartyTransactions>
    <ifrs-full:ServicesReceivedRelatedPartyTransactions
      contextRef="c535"
      decimals="-6"
      id="ixv-65943"
      unitRef="ils">1800000000</ifrs-full:ServicesReceivedRelatedPartyTransactions>
    <ifrs-full:ServicesReceivedRelatedPartyTransactions
      contextRef="c535"
      decimals="-3"
      id="ixv-65944"
      unitRef="eur">449000</ifrs-full:ServicesReceivedRelatedPartyTransactions>
    <ifrs-full:ServicesReceivedRelatedPartyTransactions
      contextRef="c536"
      decimals="-4"
      id="ixv-65945"
      unitRef="ils">660000</ifrs-full:ServicesReceivedRelatedPartyTransactions>
    <ifrs-full:ServicesReceivedRelatedPartyTransactions
      contextRef="c537"
      decimals="-4"
      id="ixv-65946"
      unitRef="ils">1140000</ifrs-full:ServicesReceivedRelatedPartyTransactions>
    <ello:CompanysShareholders contextRef="c0" decimals="-3" id="ixv-65947" unitRef="ils">239000</ello:CompanysShareholders>
    <ello:CompanysShareholders contextRef="c0" decimals="-3" id="ixv-65948" unitRef="eur">60000</ello:CompanysShareholders>
    <ifrs-full:DisclosureOfAmountsIncurredByEntityForProvisionOfKeyManagementPersonnelServicesProvidedBySeparateManagementEntitiesExplanatory contextRef="c0" id="ixv-33858">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Compensation
to key management personnel and interested parties that are employed by, or provide consulting services to, the Company:&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="22" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Year
    ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Number of&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Number of&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Number of&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;People&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Amount&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;People&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Amount&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;People&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Amount&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 28%; text-align: left"&gt;Short-term &lt;span style="font-family: Times New Roman, Times, Serif"&gt;Benefits&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&#160;&#160;&#160;&#160;&#160;703&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&#160;&#160;&#160;&#160;&#160;994&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&#160;&#160;&#160;&#160;&#160;763&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Post-employment Benefits&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;66&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;72&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;61&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Share-based payments&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;80&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;69&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;68&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;</ifrs-full:DisclosureOfAmountsIncurredByEntityForProvisionOfKeyManagementPersonnelServicesProvidedBySeparateManagementEntitiesExplanatory>
    <ello:NumberOfEmployeesForShortEmployeeBenefits
      contextRef="c538"
      decimals="0"
      id="ixv-65949"
      unitRef="pure">3</ello:NumberOfEmployeesForShortEmployeeBenefits>
    <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits
      contextRef="c538"
      decimals="-3"
      id="ixv-65950"
      unitRef="eur">703000</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
    <ello:NumberOfEmployeesForShortEmployeeBenefits
      contextRef="c539"
      decimals="0"
      id="ixv-65951"
      unitRef="pure">3</ello:NumberOfEmployeesForShortEmployeeBenefits>
    <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits
      contextRef="c539"
      decimals="-3"
      id="ixv-65952"
      unitRef="eur">994000</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
    <ello:NumberOfEmployeesForShortEmployeeBenefits
      contextRef="c540"
      decimals="0"
      id="ixv-65953"
      unitRef="pure">3</ello:NumberOfEmployeesForShortEmployeeBenefits>
    <ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits
      contextRef="c540"
      decimals="-3"
      id="ixv-65954"
      unitRef="eur">763000</ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits>
    <ello:NumberOfEmployeesForPostEmploymentBenefits
      contextRef="c538"
      decimals="0"
      id="ixv-65955"
      unitRef="pure">2</ello:NumberOfEmployeesForPostEmploymentBenefits>
    <ifrs-full:KeyManagementPersonnelCompensationPostemploymentBenefits
      contextRef="c538"
      decimals="-3"
      id="ixv-65956"
      unitRef="eur">66000</ifrs-full:KeyManagementPersonnelCompensationPostemploymentBenefits>
    <ello:NumberOfEmployeesForPostEmploymentBenefits
      contextRef="c539"
      decimals="0"
      id="ixv-65957"
      unitRef="pure">2</ello:NumberOfEmployeesForPostEmploymentBenefits>
    <ifrs-full:KeyManagementPersonnelCompensationPostemploymentBenefits
      contextRef="c539"
      decimals="-3"
      id="ixv-65958"
      unitRef="eur">72000</ifrs-full:KeyManagementPersonnelCompensationPostemploymentBenefits>
    <ello:NumberOfEmployeesForPostEmploymentBenefits
      contextRef="c540"
      decimals="0"
      id="ixv-65959"
      unitRef="pure">2</ello:NumberOfEmployeesForPostEmploymentBenefits>
    <ifrs-full:KeyManagementPersonnelCompensationPostemploymentBenefits
      contextRef="c540"
      decimals="-3"
      id="ixv-65960"
      unitRef="eur">61000</ifrs-full:KeyManagementPersonnelCompensationPostemploymentBenefits>
    <ello:NumberOfEmployeesForShareBasedPayments
      contextRef="c538"
      decimals="0"
      id="ixv-65961"
      unitRef="pure">3</ello:NumberOfEmployeesForShareBasedPayments>
    <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment
      contextRef="c538"
      decimals="-3"
      id="ixv-65962"
      unitRef="eur">80000</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
    <ello:NumberOfEmployeesForShareBasedPayments
      contextRef="c539"
      decimals="0"
      id="ixv-65963"
      unitRef="pure">3</ello:NumberOfEmployeesForShareBasedPayments>
    <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment
      contextRef="c539"
      decimals="-3"
      id="ixv-65964"
      unitRef="eur">69000</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
    <ello:NumberOfEmployeesForShareBasedPayments
      contextRef="c540"
      decimals="0"
      id="ixv-65965"
      unitRef="pure">3</ello:NumberOfEmployeesForShareBasedPayments>
    <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment
      contextRef="c540"
      decimals="-3"
      id="ixv-65966"
      unitRef="eur">68000</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
    <ello:DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory contextRef="c0" id="ixv-34219">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Compensation
to directors (excluding compensation paid under the Management Agreement):&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="22" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Year
    ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Number of&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Number of&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Number of&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;people&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Amount&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;people&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Amount&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;People&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Amount&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&#160;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; width: 28%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total compensation to directors
    not employed by the Company&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;80&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;90&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: center"&gt;4&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;72&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Share-based payments&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;28&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;36&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;10&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:DisclosureOfDetailedInformationAboutCompensationToNotEmployedByCompanyExplanatory>
    <ello:NumberOfPeopleForCompensationNotEmployed
      contextRef="c541"
      decimals="0"
      id="ixv-65967"
      unitRef="pure">4</ello:NumberOfPeopleForCompensationNotEmployed>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="c541"
      decimals="-3"
      id="ixv-65968"
      unitRef="eur">80000</ifrs-full:KeyManagementPersonnelCompensation>
    <ello:NumberOfPeopleForCompensationNotEmployed
      contextRef="c542"
      decimals="0"
      id="ixv-65969"
      unitRef="pure">4</ello:NumberOfPeopleForCompensationNotEmployed>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="c542"
      decimals="-3"
      id="ixv-65970"
      unitRef="eur">90000</ifrs-full:KeyManagementPersonnelCompensation>
    <ello:NumberOfPeopleForCompensationNotEmployed
      contextRef="c543"
      decimals="0"
      id="ixv-65971"
      unitRef="pure">4</ello:NumberOfPeopleForCompensationNotEmployed>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="c543"
      decimals="-3"
      id="ixv-65972"
      unitRef="eur">72000</ifrs-full:KeyManagementPersonnelCompensation>
    <ello:NumberOfEmployeesForShareBasedPayments
      contextRef="c541"
      decimals="0"
      id="ixv-65973"
      unitRef="pure">4</ello:NumberOfEmployeesForShareBasedPayments>
    <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment
      contextRef="c541"
      decimals="-3"
      id="ixv-65974"
      unitRef="eur">28000</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
    <ello:NumberOfEmployeesForShareBasedPayments
      contextRef="c542"
      decimals="0"
      id="ixv-65975"
      unitRef="pure">4</ello:NumberOfEmployeesForShareBasedPayments>
    <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment
      contextRef="c542"
      decimals="-3"
      id="ixv-65976"
      unitRef="eur">36000</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
    <ello:NumberOfEmployeesForShareBasedPayments
      contextRef="c543"
      decimals="0"
      id="ixv-65977"
      unitRef="pure">4</ello:NumberOfEmployeesForShareBasedPayments>
    <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment
      contextRef="c543"
      decimals="-3"
      id="ixv-65978"
      unitRef="eur">10000</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
    <ello:DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory contextRef="c0" id="ixv-34483">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Debts and loans to related and interested parties&lt;/b&gt;&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Interest
    income recognized in &lt;br/&gt;
statement of&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="5" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;The terms of the loan&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Balance
    as at December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;income
    for the year ended &lt;br/&gt;
December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Interest&lt;/span&gt;&lt;br/&gt;
&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Linkage&lt;/span&gt;&lt;br/&gt;
&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;rate&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;base&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 16%; text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Ellomay Luzon
    Energy&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; padding-bottom: 4pt; text-align: right"&gt;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;8.1&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(*)&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 11%; text-align: center; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;NIS+ Israeli
    CPI&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&lt;span style="-sec-ix-hidden: hidden-fact-209; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,665&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;267&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,398&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;821&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(*)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;See Note 6A regarding the conversion of approximately NIS 46,933 thousand of the shareholders loans (of which the Company&#x2019;s portion is approximately NIS 23,467 thousand) to capital notes.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ello:DisclosureOfDetailedInformationAboutDebtsAndLoansToRelatedAndInterestedPartiesExplanatory>
    <ifrs-full:BorrowingsInterestRate
      contextRef="c544"
      decimals="3"
      id="ix_92_fact"
      unitRef="pure">0.081</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:AmountsReceivableRelatedPartyTransactions
      contextRef="c545"
      decimals="-3"
      id="ixv-65980"
      unitRef="eur">2665000</ifrs-full:AmountsReceivableRelatedPartyTransactions>
    <ifrs-full:InterestIncomeOnLoansAndReceivables
      contextRef="c546"
      decimals="-3"
      id="ixv-65981"
      unitRef="eur">267000</ifrs-full:InterestIncomeOnLoansAndReceivables>
    <ifrs-full:InterestIncomeOnLoansAndReceivables
      contextRef="c547"
      decimals="-3"
      id="ixv-65982"
      unitRef="eur">1398000</ifrs-full:InterestIncomeOnLoansAndReceivables>
    <ifrs-full:InterestIncomeOnLoansAndReceivables
      contextRef="c548"
      decimals="-3"
      id="ixv-65983"
      unitRef="eur">821000</ifrs-full:InterestIncomeOnLoansAndReceivables>
    <ifrs-full:OutstandingCommitmentsMadeByEntityRelatedPartyTransactions contextRef="c2" decimals="-3" id="ixv-65984" unitRef="ils">46933000</ifrs-full:OutstandingCommitmentsMadeByEntityRelatedPartyTransactions>
    <ifrs-full:OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions contextRef="c2" decimals="-3" id="ixv-65985" unitRef="ils">23467000</ifrs-full:OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions>
    <ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory contextRef="c0" id="ixv-34718">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Note
16 - Equity &lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;A.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Composition of share capital&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;December
    31, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;December
    31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;December
    31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Issued
    and&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Issued
    and&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Issued
    and&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Authorized&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Outstanding(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Authorized&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;outstanding(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Authorized&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Outstanding&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="22" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Number
    of shares&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 28%; text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Ordinary
    shares&#160;of NIS&#160;10.00 par value each&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;17,000,000&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="white-space: nowrap; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 9%; font-weight: bold; text-align: right"&gt;&lt;p style="margin: 0pt 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;12,852,585&lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="white-space: nowrap; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;17,000,000&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="white-space: nowrap; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 9%; text-align: right"&gt;&lt;p style="margin: 0pt 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;12,852,585&lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="white-space: nowrap; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;17,000,000&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="white-space: nowrap; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;12,849,295 &lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(1)&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Net of 258,046 Ordinary shares held as treasury shares as of December 31, 2023, 2022 and 2021, all of which have been purchased according to share buyback programs that were authorized by the Company&#x2019;s Board of Directors.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;On
October 26, 2020, the Company completed a public offering in Israel of additional Series C Debenture (see Note 12B) with an aggregate
principal amount of NIS 154 million (approximately &#x20ac;38.5 million based on the Euro/NIS exchange rate at that time) (subject to adjustments
upon customary terms and 385,000 Series 1 Options, tradable on the Tel Aviv Stock Exchange, to purchase the Company&#x2019;s ordinary
shares at an exercise price per share of NIS 150 (approximately &#x20ac;37.5 based on the Euro/NIS exchange rate at that time) (subject
to adjustments upon customary terms). Of the total proceeds of the offering, an amount NIS 8,891 thousand (approximately &#x20ac;2,224
thousand based on the Euro/NIS exchange rate at that time) was recognized in Other long-term liabilities in connection with these options.
As of December 31, 2023, the amount of the liability was &#x20ac;2 thousand.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;On
February 23, 2021, the Company issued new Series D Convertible Debentures in a public offering in Israel in the aggregate principal amount
of NIS 62,000 thousand (approximately &#x20ac;16,956 thousand based on the Euro/NIS exchange rate at that time) (see Note 12B). The Series
D Convertible Debentures are convertible into the Company&#x2019;s ordinary shares, NIS 10.00 par value per share, at a conversion price
of NIS 165 (approximately &#x20ac;41.6 based on the Euro/NIS exchange rate at that time), subject to adjustments upon customary terms.
Of the total proceeds of the offering, an amount NIS 7,504 thousand (approximately &#x20ac;1,890 thousand based on the Euro/NIS exchange
rate at that time) was recognized in Other long-term liabilities in connection with the convertible component. As of December 31, 2023,
the amount of the liability was &#x20ac;82 thousand.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;During
2022, one of the Company&#x2019;s employees exercised options to purchase 3,290 ordinary shares, respectively. No options were exercised
during 2023.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;B.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Rights
                                            attached to shares:&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;1.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Voting
                                            rights at the general meeting, right to dividend and rights upon liquidation of the Company.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
                                                                                                                                                         &lt;/table&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Commencing
                                            August 22, 2011, the Company&#x2019;s ordinary shares have been listed on the NYSE American
                                            (formerly the NYSE MKT and the NYSE Amex). On October 27, 2013, the Company&#x2019;s ordinary
                                            shares were also listed for trading on the Tel Aviv Stock Exchange in Israel.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;C.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Translation
                                            reserve from foreign operation&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;D.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Capital
                                            management in the Company&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Company&#x2019;s capital management objectives are:&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;1.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;To
                                            preserve the Company&#x2019;s ability to ensure business continuity thereby creating a return
                                            for the shareholders, investors and other interested parties.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;To
                                            ensure adequate return for the shareholders by making reasonable investment decisions based
                                            on the level of internal rate of return that is in line with the Company&#x2019;s business
                                            activity.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;3.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;To
                                            maintain healthy capital ratios in order to support business activity and maximize shareholders
                                            value.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory>
    <ifrs-full:DisclosureOfClassesOfShareCapitalExplanatory contextRef="c0" id="ixv-34731">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Composition of share capital&lt;/b&gt;&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;December
    31, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;December
    31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;December
    31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Issued
    and&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Issued
    and&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Issued
    and&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Authorized&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Outstanding(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Authorized&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;outstanding(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Authorized&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Outstanding&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="22" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Number
    of shares&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 28%; text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Ordinary
    shares&#160;of NIS&#160;10.00 par value each&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;17,000,000&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="white-space: nowrap; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 9%; font-weight: bold; text-align: right"&gt;&lt;p style="margin: 0pt 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;12,852,585&lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="white-space: nowrap; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;17,000,000&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="white-space: nowrap; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 9%; text-align: right"&gt;&lt;p style="margin: 0pt 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;12,852,585&lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="white-space: nowrap; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;17,000,000&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="white-space: nowrap; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;12,849,295 &lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(1)&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Net of 258,046 Ordinary shares held as treasury shares as of December 31, 2023, 2022 and 2021, all of which have been purchased according to share buyback programs that were authorized by the Company&#x2019;s Board of Directors.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;</ifrs-full:DisclosureOfClassesOfShareCapitalExplanatory>
    <ifrs-full:NumberOfSharesAuthorised
      contextRef="c2"
      decimals="INF"
      id="ixv-65986"
      unitRef="shares">17000000</ifrs-full:NumberOfSharesAuthorised>
    <ifrs-full:NumberOfSharesOutstanding
      contextRef="c2"
      decimals="INF"
      id="ix_93_fact"
      unitRef="shares">12852585</ifrs-full:NumberOfSharesOutstanding>
    <ifrs-full:NumberOfSharesAuthorised
      contextRef="c3"
      decimals="INF"
      id="ixv-65988"
      unitRef="shares">17000000</ifrs-full:NumberOfSharesAuthorised>
    <ifrs-full:NumberOfSharesOutstanding
      contextRef="c3"
      decimals="INF"
      id="ix_94_fact"
      unitRef="shares">12852585</ifrs-full:NumberOfSharesOutstanding>
    <ifrs-full:NumberOfSharesAuthorised
      contextRef="c40"
      decimals="INF"
      id="ixv-65990"
      unitRef="shares">17000000</ifrs-full:NumberOfSharesAuthorised>
    <ifrs-full:NumberOfSharesOutstanding
      contextRef="c40"
      decimals="INF"
      id="ix_95_fact"
      unitRef="shares">12849295</ifrs-full:NumberOfSharesOutstanding>
    <ello:NetOfTreasuryShares
      contextRef="c549"
      decimals="0"
      id="ixv-65992"
      unitRef="shares">258046</ello:NetOfTreasuryShares>
    <ello:NetOfTreasuryShares
      contextRef="c550"
      decimals="0"
      id="ixv-65993"
      unitRef="shares">258046</ello:NetOfTreasuryShares>
    <ello:NetOfTreasuryShares
      contextRef="c551"
      decimals="0"
      id="ixv-65994"
      unitRef="shares">258046</ello:NetOfTreasuryShares>
    <ifrs-full:Borrowings
      contextRef="c425"
      decimals="-6"
      id="ixv-65995"
      unitRef="ils">154000000</ifrs-full:Borrowings>
    <ifrs-full:Borrowings
      contextRef="c425"
      decimals="-5"
      id="ixv-65996"
      unitRef="eur">38500000</ifrs-full:Borrowings>
    <ello:AmountOfOrdinarySharesRepurchased
      contextRef="c552"
      decimals="-3"
      id="ixv-65997"
      unitRef="usd">385000000</ello:AmountOfOrdinarySharesRepurchased>
    <ifrs-full:ParValuePerShare
      contextRef="c553"
      decimals="0"
      id="ixv-65998"
      unitRef="ilsPershares">150</ifrs-full:ParValuePerShare>
    <ifrs-full:ParValuePerShare
      contextRef="c553"
      decimals="1"
      id="ixv-65999"
      unitRef="eurPershares">37.5</ifrs-full:ParValuePerShare>
    <ello:ProceedsFromPrivatePlacement
      contextRef="c553"
      decimals="-3"
      id="ixv-66000"
      unitRef="ils">8891000</ello:ProceedsFromPrivatePlacement>
    <ello:ProceedsFromPrivatePlacement
      contextRef="c553"
      decimals="-3"
      id="ixv-66001"
      unitRef="eur">2224000</ello:ProceedsFromPrivatePlacement>
    <ifrs-full:Liabilities
      contextRef="c447"
      decimals="-3"
      id="ixv-66002"
      unitRef="eur">2000</ifrs-full:Liabilities>
    <ifrs-full:Borrowings
      contextRef="c451"
      decimals="-3"
      id="ixv-66003"
      unitRef="ils">62000000</ifrs-full:Borrowings>
    <ifrs-full:Borrowings
      contextRef="c451"
      decimals="-3"
      id="ixv-66004"
      unitRef="eur">16956000</ifrs-full:Borrowings>
    <ifrs-full:ParValuePerShare
      contextRef="c451"
      decimals="2"
      id="ixv-66005"
      unitRef="ilsPershares">10</ifrs-full:ParValuePerShare>
    <ello:DebenturesConvertibleIntoOrdinarySharesParValuePerShare
      contextRef="c451"
      decimals="0"
      id="ixv-66006"
      unitRef="ilsPershares">165</ello:DebenturesConvertibleIntoOrdinarySharesParValuePerShare>
    <ello:DebenturesConvertibleIntoOrdinarySharesParValuePerShare
      contextRef="c451"
      decimals="1"
      id="ixv-66007"
      unitRef="eurPershares">41.6</ello:DebenturesConvertibleIntoOrdinarySharesParValuePerShare>
    <ello:ProceedsFromPrivatePlacement
      contextRef="c451"
      decimals="-3"
      id="ixv-66008"
      unitRef="ils">7504000</ello:ProceedsFromPrivatePlacement>
    <ello:ProceedsFromPrivatePlacement
      contextRef="c451"
      decimals="-3"
      id="ixv-66009"
      unitRef="eur">1890000</ello:ProceedsFromPrivatePlacement>
    <ifrs-full:Liabilities
      contextRef="c455"
      decimals="-3"
      id="ixv-66010"
      unitRef="eur">82000</ifrs-full:Liabilities>
    <ifrs-full:NumberOfShareOptionsExercisedInSharebasedPaymentArrangement
      contextRef="c554"
      decimals="0"
      id="ixv-66011"
      unitRef="pure">1</ifrs-full:NumberOfShareOptionsExercisedInSharebasedPaymentArrangement>
    <ifrs-full:NumberOfShareOptionsExercisedInSharebasedPaymentArrangement
      contextRef="c555"
      decimals="0"
      id="ixv-66012"
      unitRef="pure">3290</ifrs-full:NumberOfShareOptionsExercisedInSharebasedPaymentArrangement>
    <ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory contextRef="c0" id="ixv-35091">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Note
17 - Share-Based Payment&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;A.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Expenses
                                            recognized in the financial statements&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
expenses recognized in the financial statements for services received from directors and employees is shown in the following table:&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Year
    ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousand&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Expenses arising
    from share-based payment&#160;transactions&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;122&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;127&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;63&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
share-based payments that the Company granted to its employees and directors are described below. There have been no modifications or
cancellations to any of the share options plans during 2023, 2022 or 2021. The amount recognized as an expense is adjusted to reflect
the actual number of share options that are expected to vest.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
fair value of the options is estimated using a Black-Scholes options pricing model with the following weighted average assumptions:&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Year
    ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Dividend yield&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;0&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;%&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;0&lt;/span&gt;&lt;/td&gt;&lt;td&gt;%&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;0&lt;/span&gt;&lt;/td&gt;&lt;td&gt;%&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Expected volatility&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;0.509&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;0.405&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;0.433&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Risk-free interest&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4.92&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2.9&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;0.48&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Expected life (in years)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;2-3&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2-3&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2-3&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Exercise price&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;16.11&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;27.22&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;29.27&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;All
options granted during 2023, 2022 and 2021 were granted with exercise price equal to or higher than the market price on the date of grant.
Weighted average fair values and exercise price of options on dates of grant are as follows:&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Equal
    market price&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;US$&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Weighted average
    exercise prices&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;16.11&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;27.22&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;29.27&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Weighted average fair
    value on grant date&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5.11&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;7.27&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;9.65&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;B.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Stock
                                            Option Plans&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;In
December 1998, the Company&#x2019;s shareholders approved the non-employee director stock option plan (the &#x201c;1998 Plan&#x201d;). Each
option granted under the 1998 Plan originally vested immediately and expires after 10 years. Generally, the Company grants options under
the plan with an exercise price equal to the market price of the underlying shares on the date of grant. An aggregate amount of not more
than 75,000 ordinary shares was reserved for grants under the 1998 Plan. The original expiration date of the 1998 Plan pursuant to its
terms was December 8, 2008 (10 years after its adoption). In January 2008 and June 2018, the term of the 1998 Plan was extended and as
a result on the current expiration date is December 8, 2028. In connection with the adoption of the Company&#x2019;s compensation policy
in 2013, the 1998 Plan was amended to provide that options granted under the 1998 Plan will become exercisable based on the vesting schedule
determined in the approvals of the option grant.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;During
each of the years 2023, 2022 and 2021, the Company granted to directors options to purchase an aggregate amount of 4,616, 4,000 and 4,000
ordinary shares, respectively, under the 1998 Plan.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;As
of December 31, 2023, options to purchase 19,365 ordinary shares are outstanding and 18,051 ordinary shares are available for future
grants under the 1998 Plan.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;In
August 2000, the Company&#x2019;s board of directors adopted the 2000 Stock Option Plan (the &#x201c;2000 Plan&#x201d;). The initial reserve
under the 2000 Plan was 200,000 ordinary shares underlying options that may be granted to officers, directors, employees and consultants
of the Company and its subsidiaries and this initial reserve was increased several times. The options usually vest over a three year
period. The exercise price of the options under the 2000 Plan is determined to be not less than 80% of the fair market value of the Company&#x2019;s
ordinary shares at the time of grant, and they usually expire after 10 years from the date of grant. In June 2008 and June 2018, the
term of the 2000 Plan was extended by additional 10 year periods and the current expiration date of the 2000 Plan is August 31, 2028.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;As
of December 31, 2023, options to purchase 34,645 ordinary shares are outstanding and 547,206 ordinary shares are available for future
grants under the 2000 Plan. Options that are cancelled or forfeited become available for future grant.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;C.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Changes
                                            during the year:&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
following table lists the number of share options, the weighted average exercise prices of share options during the current year:&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 113.4pt 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 113.4pt 0pt 0.5in; text-align: justify"&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Weighted&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Weighted&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Weighted&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Average&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;average&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Average&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Number of&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Exercise&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Number of&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;exercise&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Number of&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Exercise&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;options&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Price&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;options&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;price&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;options&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Price&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;US$&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;US$&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;US$&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 28%; text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;Outstanding at beginning of year&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;49,394&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;26.98&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;48,684&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;26.16&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;31,135&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;12.94&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;Granted during the year&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: right"&gt;4,616&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: right"&gt;16&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;4,000&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;27.22&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;37,000&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;29.27&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;Exercised during the year&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-210"&gt;(-&lt;/div&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-211"&gt;-&lt;/div&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;(3,290&lt;/td&gt;
    &lt;td style="text-align: left"&gt;)&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;11.19&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;(18,451&lt;/td&gt;
    &lt;td style="text-align: left"&gt;)&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;10.06&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in"&gt;Expired during the year&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-212"&gt;(-&lt;/div&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-213"&gt;-&lt;/div&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-214"&gt;(-&lt;/div&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-215"&gt;-&lt;/div&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,000&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;26.63&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"&gt;Outstanding at end of year&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;54,010&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;26.28&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;49,394&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;26.98&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;48,684&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;26.16&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"&gt;Exercisable at end of year&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;38,394&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;26.63&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;23,394&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;25.25&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;6,749&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;20.05&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;




&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 113.4pt 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
weighted average remaining contractual life for the share options outstanding as of December&#160;31, 2023 was 8.23 years (as of December&#160;31,
2022 was 8.40 years and as of December 31, 2021 was 9.38 years).&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
range of exercise prices for share options outstanding as of December 31, 2023: $8.41- $34.44 (as of December 31, 2022 the range was
$8.41- $34.44 and as of December&#160;31, 2021 the range was $8.41- $34.44).&lt;/span&gt;&lt;/p&gt;</ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory>
    <ello:DisclosureOfExpensesRecognizedInFinancialStatementsExplanatory contextRef="c0" id="ixv-35109">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
expenses recognized in the financial statements for services received from directors and employees is shown in the following table:&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Year
    ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    thousand&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Expenses arising
    from share-based payment&#160;transactions&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;122&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;127&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;63&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:DisclosureOfExpensesRecognizedInFinancialStatementsExplanatory>
    <ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees contextRef="c0" decimals="-3" id="ixv-66013" unitRef="eur">122000</ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees>
    <ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees contextRef="c4" decimals="-3" id="ixv-66014" unitRef="eur">127000</ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees>
    <ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees contextRef="c5" decimals="-3" id="ixv-66015" unitRef="eur">63000</ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees>
    <ello:DisclosureOfBlackScholesOptionsPricingModelTextBlock contextRef="c0" id="ixv-35188">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
fair value of the options is estimated using a Black-Scholes options pricing model with the following weighted average assumptions:&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Year
    ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Dividend yield&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;0&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;%&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;0&lt;/span&gt;&lt;/td&gt;&lt;td&gt;%&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;0&lt;/span&gt;&lt;/td&gt;&lt;td&gt;%&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Expected volatility&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;0.509&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;0.405&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;0.433&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Risk-free interest&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4.92&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2.9&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;0.48&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Expected life (in years)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;2-3&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2-3&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2-3&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Exercise price&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;16.11&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;27.22&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;29.27&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:DisclosureOfBlackScholesOptionsPricingModelTextBlock>
    <ifrs-full:ExpectedDividendAsPercentageShareOptionsGranted contextRef="c0" decimals="2" id="ixv-66016" unitRef="pure">0</ifrs-full:ExpectedDividendAsPercentageShareOptionsGranted>
    <ifrs-full:ExpectedDividendAsPercentageShareOptionsGranted contextRef="c4" decimals="2" id="ixv-66017" unitRef="pure">0</ifrs-full:ExpectedDividendAsPercentageShareOptionsGranted>
    <ifrs-full:ExpectedDividendAsPercentageShareOptionsGranted contextRef="c5" decimals="2" id="ixv-66018" unitRef="pure">0</ifrs-full:ExpectedDividendAsPercentageShareOptionsGranted>
    <ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted contextRef="c0" decimals="5" id="ixv-66019" unitRef="pure">0.00509</ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted>
    <ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted contextRef="c4" decimals="5" id="ixv-66020" unitRef="pure">0.00405</ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted>
    <ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted contextRef="c5" decimals="5" id="ixv-66021" unitRef="pure">0.00433</ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted>
    <ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted contextRef="c0" decimals="4" id="ixv-66022" unitRef="pure">0.0492</ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted>
    <ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted contextRef="c4" decimals="3" id="ixv-66023" unitRef="pure">0.029</ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted>
    <ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted contextRef="c5" decimals="4" id="ixv-66024" unitRef="pure">0.0048</ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted>
    <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted contextRef="c75" decimals="0" id="ixv-66025" unitRef="pure">2</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
    <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted contextRef="c76" decimals="0" id="ixv-66026" unitRef="pure">3</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
    <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted
      contextRef="c569"
      decimals="0"
      id="ixv-66027"
      unitRef="pure">2</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
    <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted
      contextRef="c570"
      decimals="0"
      id="ixv-66028"
      unitRef="pure">3</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
    <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted
      contextRef="c571"
      decimals="0"
      id="ixv-66029"
      unitRef="pure">2</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
    <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted
      contextRef="c572"
      decimals="0"
      id="ixv-66030"
      unitRef="pure">3</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
    <ifrs-full:ExercisePriceShareOptionsGranted2019
      contextRef="c0"
      decimals="2"
      id="ixv-66031"
      unitRef="eurPershares">16.11</ifrs-full:ExercisePriceShareOptionsGranted2019>
    <ifrs-full:ExercisePriceShareOptionsGranted2019
      contextRef="c4"
      decimals="2"
      id="ixv-66032"
      unitRef="eurPershares">27.22</ifrs-full:ExercisePriceShareOptionsGranted2019>
    <ifrs-full:ExercisePriceShareOptionsGranted2019
      contextRef="c5"
      decimals="2"
      id="ixv-66033"
      unitRef="eurPershares">29.27</ifrs-full:ExercisePriceShareOptionsGranted2019>
    <ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory contextRef="c0" id="ixv-35356">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;All
options granted during 2023, 2022 and 2021 were granted with exercise price equal to or higher than the market price on the date of grant.
Weighted average fair values and exercise price of options on dates of grant are as follows:&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Equal
    market price&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;US$&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Weighted average
    exercise prices&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;16.11&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;27.22&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;29.27&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Weighted average fair
    value on grant date&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5.11&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;7.27&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;9.65&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019
      contextRef="c0"
      decimals="2"
      id="ixv-66034"
      unitRef="usdPershares">16.11</ifrs-full:WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019
      contextRef="c4"
      decimals="2"
      id="ixv-66035"
      unitRef="usdPershares">27.22</ifrs-full:WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019
      contextRef="c5"
      decimals="2"
      id="ixv-66036"
      unitRef="usdPershares">29.27</ifrs-full:WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019>
    <ifrs-full:WeightedAverageFairValueAtMeasurementDateShareOptionsGranted contextRef="c2" decimals="2" id="ixv-66037" unitRef="usd">5.11</ifrs-full:WeightedAverageFairValueAtMeasurementDateShareOptionsGranted>
    <ifrs-full:WeightedAverageFairValueAtMeasurementDateShareOptionsGranted contextRef="c3" decimals="2" id="ixv-66038" unitRef="usd">7.27</ifrs-full:WeightedAverageFairValueAtMeasurementDateShareOptionsGranted>
    <ifrs-full:WeightedAverageFairValueAtMeasurementDateShareOptionsGranted contextRef="c40" decimals="2" id="ixv-66039" unitRef="usd">9.65</ifrs-full:WeightedAverageFairValueAtMeasurementDateShareOptionsGranted>
    <ifrs-full:DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement contextRef="c556" id="ixv-66040">10 years</ifrs-full:DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement>
    <ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement
      contextRef="c556"
      decimals="0"
      id="ixv-66041"
      unitRef="pure">75000</ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement>
    <ello:DateOfExpireOfShareBasedPaymentArrangement contextRef="c556" id="ixv-66042">December 8, 2008</ello:DateOfExpireOfShareBasedPaymentArrangement>
    <ello:DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement contextRef="c556" id="ixv-66043">December 8, 2028</ello:DescriptionOfExtendedTermOfOptionsGrantedForShareBasedPaymentArrangement>
    <ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement
      contextRef="c557"
      decimals="0"
      id="ixv-66044"
      unitRef="pure">4616</ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement>
    <ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement
      contextRef="c558"
      decimals="0"
      id="ixv-66045"
      unitRef="pure">4000</ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement>
    <ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement
      contextRef="c559"
      decimals="0"
      id="ixv-66046"
      unitRef="pure">4000</ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement>
    <ifrs-full:NumberOfOutstandingShareOptions
      contextRef="c560"
      decimals="0"
      id="ixv-66047"
      unitRef="pure">19365</ifrs-full:NumberOfOutstandingShareOptions>
    <ello:OrdinarySharesAvailableForFutureGrants
      contextRef="c560"
      decimals="0"
      id="ixv-66048"
      unitRef="pure">18051</ello:OrdinarySharesAvailableForFutureGrants>
    <ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement
      contextRef="c561"
      decimals="0"
      id="ixv-66049"
      unitRef="pure">200000</ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement>
    <ello:ShareBasedPaymentAwardOptionsContractualTerm contextRef="c561" id="ixv-66050">P3Y</ello:ShareBasedPaymentAwardOptionsContractualTerm>
    <ello:PercentageOfExercisePrice
      contextRef="c561"
      decimals="2"
      id="ixv-66051"
      unitRef="pure">0.80</ello:PercentageOfExercisePrice>
    <ifrs-full:DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement contextRef="c561" id="ixv-66052">10 years</ifrs-full:DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement>
    <ello:DateOfExpireOfShareBasedPaymentArrangement contextRef="c561" id="ixv-66053">August 31, 2028</ello:DateOfExpireOfShareBasedPaymentArrangement>
    <ifrs-full:NumberOfOutstandingShareOptions
      contextRef="c562"
      decimals="0"
      id="ixv-66054"
      unitRef="pure">34645</ifrs-full:NumberOfOutstandingShareOptions>
    <ello:OrdinarySharesAvailableForFutureGrants
      contextRef="c562"
      decimals="0"
      id="ixv-66055"
      unitRef="pure">547206</ello:OrdinarySharesAvailableForFutureGrants>
    <ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory contextRef="c0" id="ixv-35562">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
following table lists the number of share options, the weighted average exercise prices of share options during the current year:&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Weighted&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Weighted&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Weighted&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Average&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;average&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Average&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Number of&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Exercise&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Number of&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;exercise&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Number of&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Exercise&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;options&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Price&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;options&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;price&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;options&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Price&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;US$&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;US$&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;US$&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 28%; text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;Outstanding at beginning of year&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;49,394&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;26.98&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;48,684&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;26.16&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;31,135&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;12.94&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;Granted during the year&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: right"&gt;4,616&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: right"&gt;16&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;4,000&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;27.22&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;37,000&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;29.27&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;Exercised during the year&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-210"&gt;(-&lt;/div&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-211"&gt;-&lt;/div&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;(3,290&lt;/td&gt;
    &lt;td style="text-align: left"&gt;)&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;11.19&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;(18,451&lt;/td&gt;
    &lt;td style="text-align: left"&gt;)&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;10.06&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in"&gt;Expired during the year&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-212"&gt;(-&lt;/div&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-213"&gt;-&lt;/div&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-214"&gt;(-&lt;/div&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-215"&gt;-&lt;/div&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,000&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;26.63&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"&gt;Outstanding at end of year&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;54,010&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;26.28&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;49,394&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;26.98&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;48,684&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;26.16&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"&gt;Exercisable at end of year&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;38,394&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;26.63&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;23,394&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;25.25&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;6,749&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;20.05&lt;/td&gt;
    &lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory>
    <ifrs-full:NumberOfOutstandingShareOptions contextRef="c3" decimals="0" id="ixv-66056" unitRef="pure">49394</ifrs-full:NumberOfOutstandingShareOptions>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019
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      decimals="2"
      id="ixv-66057"
      unitRef="usdPershares">26.98</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019>
    <ifrs-full:NumberOfOutstandingShareOptions contextRef="c40" decimals="0" id="ixv-66058" unitRef="pure">48684</ifrs-full:NumberOfOutstandingShareOptions>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019
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      decimals="2"
      id="ixv-66059"
      unitRef="usdPershares">26.16</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019>
    <ifrs-full:NumberOfOutstandingShareOptions contextRef="c58" decimals="0" id="ixv-66060" unitRef="pure">31135</ifrs-full:NumberOfOutstandingShareOptions>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019
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      id="ixv-66061"
      unitRef="usdPershares">12.94</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019>
    <ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement contextRef="c0" decimals="0" id="ixv-66062" unitRef="pure">4616</ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement>
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    <ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement contextRef="c4" decimals="0" id="ixv-66064" unitRef="pure">4000</ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement>
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      id="ixv-66065"
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    <ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement contextRef="c5" decimals="0" id="ixv-66066" unitRef="pure">37000</ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019
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    <ello:ExercisedDuringTheYearNumberOfOptions contextRef="c4" decimals="0" id="ixv-66068" unitRef="pure">3290</ello:ExercisedDuringTheYearNumberOfOptions>
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      id="ixv-66069"
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    <ello:ExercisedDuringTheYearNumberOfOptions contextRef="c5" decimals="0" id="ixv-66070" unitRef="pure">18451</ello:ExercisedDuringTheYearNumberOfOptions>
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    <ifrs-full:NumberOfShareOptionsExpiredInSharebasedPaymentArrangement contextRef="c5" decimals="0" id="ixv-66072" unitRef="pure">1000</ifrs-full:NumberOfShareOptionsExpiredInSharebasedPaymentArrangement>
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      id="ixv-66077"
      unitRef="usdPershares">26.98</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019>
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      id="ixv-66079"
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    <ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement contextRef="c2" decimals="0" id="ixv-66080" unitRef="pure">38394</ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019
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    <ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement contextRef="c3" decimals="0" id="ixv-66082" unitRef="pure">23394</ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement>
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    <ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019 contextRef="c4" id="ixv-66087">P8Y4M24D</ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019>
    <ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019 contextRef="c5" id="ixv-66088">P9Y4M17D</ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019>
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      decimals="2"
      id="ixv-66089"
      unitRef="usdPershares">8.41</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019
      contextRef="c564"
      decimals="2"
      id="ixv-66090"
      unitRef="usdPershares">34.44</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019
      contextRef="c565"
      decimals="2"
      id="ixv-66091"
      unitRef="usdPershares">8.41</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019
      contextRef="c566"
      decimals="2"
      id="ixv-66092"
      unitRef="usdPershares">34.44</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019
      contextRef="c567"
      decimals="2"
      id="ixv-66093"
      unitRef="usdPershares">8.41</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019
      contextRef="c568"
      decimals="2"
      id="ixv-66094"
      unitRef="usdPershares">34.44</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019>
    <ello:DisclosureOfDetailsOfStatementsOfProfitOrLossAndOtherComprehensiveIncomeLossExplanatory contextRef="c0" id="ixv-35925">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Note
18 - Details of the Statements of Profit or Loss and Other Comprehensive Income (Loss)&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;A.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Revenues&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;For
    the year ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Revenues from the sale of solar
    electricity&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;31,813&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;39,601&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;32,019&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Revenues from the sale
    of gas and power produced by anaerobic digestion plants&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;17,021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;12,640&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;12,686&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total revenues&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;48,834&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;52,241&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;44,705&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;B.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Operating Costs, Depreciation and Amortization&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;For
    the year ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Depreciation from fixed assets&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;15,405&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;14,954&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;13,977&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Depreciation from right-of-use assets&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;607&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;626&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;664&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Professional services&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,549&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,232&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,465&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Operating and maintenance services&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;16,276&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;13,827&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;11,193&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;System operator charges&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,385&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;6,882&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3,046&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Insurance&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;842&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;649&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;506&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;809&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;81&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,013&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total operating costs&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;38,873&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;39,251&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;31,864&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;C.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;General and Administrative Expenses&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;For
    the year ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Salaries and related compensation&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,797&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,151&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,505&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Professional services&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,306&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,367&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,785&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,180&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,337&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,334&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total general and administrative
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5,283&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5,855&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5,624&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;*&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Reclassified due to discontinued operation - see Note 23.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;D.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Financing
                                            Income and Expenses:&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;1.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Financing income&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;For
    the year ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Interest income&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,015&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;402&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;266&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Change in fair value of derivatives, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;251&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;605&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-216; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Profit from settlement of derivatives contract&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-217; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-218; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;407&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Gain from exchange rate
    differences, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;6,732&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;6,041&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-219; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total financing income&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;8,998&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;7,048&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;673&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Financing expenses&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;For
    the year ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Change in fair value of derivatives, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-220; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-221; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;841&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Debentures interest and related
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3,876&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,130&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3,220&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Interest and commissions related to projects
    finance&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5,825&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5,852&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4,313&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Amortization of capitalized expenses related
    to projects finance&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;252&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;246&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;12,180&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Interest on minority shareholder loan&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,014&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,529&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,055&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Bank charges and other commissions&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;247&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;471&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;137&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Interest on lease liability&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;341&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;296&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;294&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Loss from exchange rate
    differences, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-222; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-223; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5,394&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total financing expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;12,555&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;10,524&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;28,434&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;*&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Reclassified due to discontinued operation - see Note 23.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ello:DisclosureOfDetailsOfStatementsOfProfitOrLossAndOtherComprehensiveIncomeLossExplanatory>
    <ifrs-full:DisclosureOfRevenueExplanatory contextRef="c0" id="ixv-35939">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Revenues&lt;/b&gt;&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;For
    the year ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Revenues from the sale of solar
    electricity&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;31,813&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;39,601&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;32,019&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Revenues from the sale
    of gas and power produced by anaerobic digestion plants&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;17,021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;12,640&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;12,686&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total revenues&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;48,834&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;52,241&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;44,705&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;*&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Reclassified due to discontinued operation - see Note 23.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;</ifrs-full:DisclosureOfRevenueExplanatory>
    <ifrs-full:RevenueFromSaleOfElectricity
      contextRef="c488"
      decimals="-3"
      id="ixv-66095"
      unitRef="eur">31813000</ifrs-full:RevenueFromSaleOfElectricity>
    <ifrs-full:RevenueFromSaleOfElectricity
      contextRef="c489"
      decimals="-3"
      id="ix_96_fact"
      unitRef="eur">39601000</ifrs-full:RevenueFromSaleOfElectricity>
    <ifrs-full:RevenueFromSaleOfElectricity
      contextRef="c490"
      decimals="-3"
      id="ixv-66097"
      unitRef="eur">32019000</ifrs-full:RevenueFromSaleOfElectricity>
    <ifrs-full:RevenueFromSaleOfOilAndGasProducts
      contextRef="c488"
      decimals="-3"
      id="ixv-66098"
      unitRef="eur">17021000</ifrs-full:RevenueFromSaleOfOilAndGasProducts>
    <ifrs-full:RevenueFromSaleOfOilAndGasProducts
      contextRef="c489"
      decimals="-3"
      id="ix_97_fact"
      unitRef="eur">12640000</ifrs-full:RevenueFromSaleOfOilAndGasProducts>
    <ifrs-full:RevenueFromSaleOfOilAndGasProducts
      contextRef="c490"
      decimals="-3"
      id="ixv-66100"
      unitRef="eur">12686000</ifrs-full:RevenueFromSaleOfOilAndGasProducts>
    <ello:TotalRevenues
      contextRef="c488"
      decimals="-3"
      id="ixv-66101"
      unitRef="eur">48834000</ello:TotalRevenues>
    <ello:TotalRevenues
      contextRef="c489"
      decimals="-3"
      id="ix_98_fact"
      unitRef="eur">52241000</ello:TotalRevenues>
    <ello:TotalRevenues
      contextRef="c490"
      decimals="-3"
      id="ixv-66103"
      unitRef="eur">44705000</ello:TotalRevenues>
    <ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory contextRef="c0" id="ixv-36076">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Operating Costs, Depreciation and Amortization&lt;/b&gt;&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;For
    the year ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Depreciation from fixed assets&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;15,405&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;14,954&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;13,977&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Depreciation from right-of-use assets&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;607&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;626&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;664&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Professional services&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,549&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,232&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,465&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Operating and maintenance services&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;16,276&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;13,827&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;11,193&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;System operator charges&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,385&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;6,882&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3,046&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Insurance&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;842&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;649&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;506&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;809&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;81&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,013&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total operating costs&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;38,873&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;39,251&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;31,864&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;*&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Reclassified due to discontinued operation - see Note 23.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;</ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory>
    <ifrs-full:DepreciationExpense
      contextRef="c573"
      decimals="-3"
      id="ixv-66104"
      unitRef="eur">15405000</ifrs-full:DepreciationExpense>
    <ifrs-full:DepreciationExpense
      contextRef="c574"
      decimals="-3"
      id="ix_99_fact"
      unitRef="eur">14954000</ifrs-full:DepreciationExpense>
    <ifrs-full:DepreciationExpense
      contextRef="c575"
      decimals="-3"
      id="ixv-66106"
      unitRef="eur">13977000</ifrs-full:DepreciationExpense>
    <ifrs-full:DepreciationRightofuseAssets
      contextRef="c573"
      decimals="-3"
      id="ixv-66107"
      unitRef="eur">607000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets
      contextRef="c574"
      decimals="-3"
      id="ix_100_fact"
      unitRef="eur">626000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets
      contextRef="c575"
      decimals="-3"
      id="ixv-66109"
      unitRef="eur">664000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:ProfessionalFeesExpense
      contextRef="c573"
      decimals="-3"
      id="ixv-66110"
      unitRef="eur">2549000</ifrs-full:ProfessionalFeesExpense>
    <ifrs-full:ProfessionalFeesExpense
      contextRef="c574"
      decimals="-3"
      id="ix_101_fact"
      unitRef="eur">2232000</ifrs-full:ProfessionalFeesExpense>
    <ifrs-full:ProfessionalFeesExpense
      contextRef="c575"
      decimals="-3"
      id="ixv-66112"
      unitRef="eur">1465000</ifrs-full:ProfessionalFeesExpense>
    <ifrs-full:MiscellaneousOtherOperatingExpense
      contextRef="c573"
      decimals="-3"
      id="ixv-66113"
      unitRef="eur">16276000</ifrs-full:MiscellaneousOtherOperatingExpense>
    <ifrs-full:MiscellaneousOtherOperatingExpense
      contextRef="c574"
      decimals="-3"
      id="ix_102_fact"
      unitRef="eur">13827000</ifrs-full:MiscellaneousOtherOperatingExpense>
    <ifrs-full:MiscellaneousOtherOperatingExpense
      contextRef="c575"
      decimals="-3"
      id="ixv-66115"
      unitRef="eur">11193000</ifrs-full:MiscellaneousOtherOperatingExpense>
    <ello:SystemOperatorCharges
      contextRef="c573"
      decimals="-3"
      id="ixv-66116"
      unitRef="eur">2385000</ello:SystemOperatorCharges>
    <ello:SystemOperatorCharges
      contextRef="c574"
      decimals="-3"
      id="ix_103_fact"
      unitRef="eur">6882000</ello:SystemOperatorCharges>
    <ello:SystemOperatorCharges
      contextRef="c575"
      decimals="-3"
      id="ixv-66118"
      unitRef="eur">3046000</ello:SystemOperatorCharges>
    <ifrs-full:InsuranceExpense
      contextRef="c573"
      decimals="-3"
      id="ixv-66119"
      unitRef="eur">842000</ifrs-full:InsuranceExpense>
    <ifrs-full:InsuranceExpense
      contextRef="c574"
      decimals="-3"
      id="ix_104_fact"
      unitRef="eur">649000</ifrs-full:InsuranceExpense>
    <ifrs-full:InsuranceExpense
      contextRef="c575"
      decimals="-3"
      id="ixv-66121"
      unitRef="eur">506000</ifrs-full:InsuranceExpense>
    <ifrs-full:OtherExpenseByNature
      contextRef="c573"
      decimals="-3"
      id="ixv-66122"
      unitRef="eur">809000</ifrs-full:OtherExpenseByNature>
    <ifrs-full:OtherExpenseByNature
      contextRef="c574"
      decimals="-3"
      id="ix_105_fact"
      unitRef="eur">81000</ifrs-full:OtherExpenseByNature>
    <ifrs-full:OtherExpenseByNature
      contextRef="c575"
      decimals="-3"
      id="ixv-66124"
      unitRef="eur">1013000</ifrs-full:OtherExpenseByNature>
    <ello:TotalOperatingCosts
      contextRef="c573"
      decimals="-3"
      id="ixv-66125"
      unitRef="eur">38873000</ello:TotalOperatingCosts>
    <ello:TotalOperatingCosts
      contextRef="c574"
      decimals="-3"
      id="ix_106_fact"
      unitRef="eur">39251000</ello:TotalOperatingCosts>
    <ello:TotalOperatingCosts
      contextRef="c575"
      decimals="-3"
      id="ixv-66127"
      unitRef="eur">31864000</ello:TotalOperatingCosts>
    <ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory contextRef="c0" id="ixv-36347">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;General and Administrative Expenses&lt;/b&gt;&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;For
    the year ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Salaries and related compensation&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,797&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,151&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,505&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Professional services&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,306&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,367&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,785&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,180&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,337&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,334&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total general and administrative
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5,283&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5,855&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5,624&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;*&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Reclassified due to discontinued operation - see Note 23.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;</ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory>
    <ifrs-full:WagesAndSalaries contextRef="c0" decimals="-3" id="ixv-66128" unitRef="eur">1797000</ifrs-full:WagesAndSalaries>
    <ifrs-full:WagesAndSalaries
      contextRef="c4"
      decimals="-3"
      id="ix_107_fact"
      unitRef="eur">2151000</ifrs-full:WagesAndSalaries>
    <ifrs-full:WagesAndSalaries
      contextRef="c5"
      decimals="-3"
      id="ix_108_fact"
      unitRef="eur">1505000</ifrs-full:WagesAndSalaries>
    <ello:ProfessionalServicesGeneralAndAdministrativeExpenses contextRef="c0" decimals="-3" id="ixv-66131" unitRef="eur">2306000</ello:ProfessionalServicesGeneralAndAdministrativeExpenses>
    <ello:ProfessionalServicesGeneralAndAdministrativeExpenses
      contextRef="c4"
      decimals="-3"
      id="ix_109_fact"
      unitRef="eur">2367000</ello:ProfessionalServicesGeneralAndAdministrativeExpenses>
    <ello:ProfessionalServicesGeneralAndAdministrativeExpenses
      contextRef="c5"
      decimals="-3"
      id="ix_110_fact"
      unitRef="eur">2785000</ello:ProfessionalServicesGeneralAndAdministrativeExpenses>
    <ello:OtherGeneralAndAdministrativeExpenses contextRef="c0" decimals="-3" id="ixv-66134" unitRef="eur">1180000</ello:OtherGeneralAndAdministrativeExpenses>
    <ello:OtherGeneralAndAdministrativeExpenses
      contextRef="c4"
      decimals="-3"
      id="ix_111_fact"
      unitRef="eur">1337000</ello:OtherGeneralAndAdministrativeExpenses>
    <ello:OtherGeneralAndAdministrativeExpenses
      contextRef="c5"
      decimals="-3"
      id="ix_112_fact"
      unitRef="eur">1334000</ello:OtherGeneralAndAdministrativeExpenses>
    <ifrs-full:GeneralAndAdministrativeExpense contextRef="c0" decimals="-3" id="ixv-66137" unitRef="eur">5283000</ifrs-full:GeneralAndAdministrativeExpense>
    <ifrs-full:GeneralAndAdministrativeExpense
      contextRef="c4"
      decimals="-3"
      id="ix_113_fact"
      unitRef="eur">5855000</ifrs-full:GeneralAndAdministrativeExpense>
    <ifrs-full:GeneralAndAdministrativeExpense
      contextRef="c5"
      decimals="-3"
      id="ix_114_fact"
      unitRef="eur">5624000</ifrs-full:GeneralAndAdministrativeExpense>
    <ifrs-full:DisclosureOfFinanceIncomeExplanatory contextRef="c0" id="ixv-36567">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Financing income&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;For
    the year ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Interest income&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,015&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;402&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;266&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Change in fair value of derivatives, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;251&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;605&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-216; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Profit from settlement of derivatives contract&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-217; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-218; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;407&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Gain from exchange rate
    differences, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;6,732&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;6,041&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-219; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total financing income&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;8,998&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;7,048&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;673&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;*&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Reclassified due to discontinued operation - see Note 23.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfFinanceIncomeExplanatory>
    <ifrs-full:RevenueFromInterest contextRef="c0" decimals="-3" id="ixv-66140" unitRef="eur">2015000</ifrs-full:RevenueFromInterest>
    <ifrs-full:RevenueFromInterest
      contextRef="c4"
      decimals="-3"
      id="ix_115_fact"
      unitRef="eur">402000</ifrs-full:RevenueFromInterest>
    <ifrs-full:RevenueFromInterest contextRef="c5" decimals="-3" id="ixv-66142" unitRef="eur">266000</ifrs-full:RevenueFromInterest>
    <ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives contextRef="c0" decimals="-3" id="ixv-66143" unitRef="eur">251000</ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives>
    <ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives
      contextRef="c4"
      decimals="-3"
      id="ix_116_fact"
      unitRef="eur">605000</ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives>
    <ello:GainFromDerivativeContracts contextRef="c5" decimals="-3" id="ixv-66145" unitRef="eur">407000</ello:GainFromDerivativeContracts>
    <ifrs-full:NetForeignExchangeGain contextRef="c0" decimals="-3" id="ixv-66146" unitRef="eur">6732000</ifrs-full:NetForeignExchangeGain>
    <ifrs-full:NetForeignExchangeGain
      contextRef="c4"
      decimals="-3"
      id="ix_117_fact"
      unitRef="eur">6041000</ifrs-full:NetForeignExchangeGain>
    <ello:TotalFinancingIncome contextRef="c0" decimals="-3" id="ixv-66148" unitRef="eur">8998000</ello:TotalFinancingIncome>
    <ello:TotalFinancingIncome
      contextRef="c4"
      decimals="-3"
      id="ix_118_fact"
      unitRef="eur">7048000</ello:TotalFinancingIncome>
    <ello:TotalFinancingIncome contextRef="c5" decimals="-3" id="ixv-66150" unitRef="eur">673000</ello:TotalFinancingIncome>
    <ifrs-full:DisclosureOfFinanceCostExplanatory contextRef="c0" id="ixv-36755">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Financing expenses&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;For
    the year ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Change in fair value of derivatives, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-220; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-221; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;841&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Debentures interest and related
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3,876&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,130&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3,220&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Interest and commissions related to projects
    finance&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5,825&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5,852&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;4,313&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Amortization of capitalized expenses related
    to projects finance&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;252&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;246&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;12,180&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Interest on minority shareholder loan&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,014&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,529&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,055&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Bank charges and other commissions&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;247&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;471&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;137&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Interest on lease liability&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;341&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;296&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;294&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Loss from exchange rate
    differences, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-222; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-223; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5,394&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Total financing expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;12,555&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;10,524&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;28,434&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;*&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Reclassified due to discontinued operation - see Note 23.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfFinanceCostExplanatory>
    <ello:FinancingExpensesInConnectionWithDerivativesNet
      contextRef="c578"
      decimals="-3"
      id="ix_119_fact"
      unitRef="eur">841000</ello:FinancingExpensesInConnectionWithDerivativesNet>
    <ifrs-full:InterestExpenseOnDebtInstrumentsIssued
      contextRef="c576"
      decimals="-3"
      id="ixv-66152"
      unitRef="eur">3876000</ifrs-full:InterestExpenseOnDebtInstrumentsIssued>
    <ifrs-full:InterestExpenseOnDebtInstrumentsIssued
      contextRef="c577"
      decimals="-3"
      id="ix_120_fact"
      unitRef="eur">2130000</ifrs-full:InterestExpenseOnDebtInstrumentsIssued>
    <ifrs-full:InterestExpenseOnDebtInstrumentsIssued
      contextRef="c578"
      decimals="-3"
      id="ix_121_fact"
      unitRef="eur">3220000</ifrs-full:InterestExpenseOnDebtInstrumentsIssued>
    <ello:InterestAndCommissionsRelatedToProjectsFinance
      contextRef="c576"
      decimals="-3"
      id="ixv-66155"
      unitRef="eur">5825000</ello:InterestAndCommissionsRelatedToProjectsFinance>
    <ello:InterestAndCommissionsRelatedToProjectsFinance
      contextRef="c577"
      decimals="-3"
      id="ix_122_fact"
      unitRef="eur">5852000</ello:InterestAndCommissionsRelatedToProjectsFinance>
    <ello:InterestAndCommissionsRelatedToProjectsFinance
      contextRef="c578"
      decimals="-3"
      id="ix_123_fact"
      unitRef="eur">4313000</ello:InterestAndCommissionsRelatedToProjectsFinance>
    <ello:AmortizationOfCapitalizedExpensesRelatedToProjectsFinance
      contextRef="c576"
      decimals="-3"
      id="ixv-66158"
      unitRef="eur">252000</ello:AmortizationOfCapitalizedExpensesRelatedToProjectsFinance>
    <ello:AmortizationOfCapitalizedExpensesRelatedToProjectsFinance
      contextRef="c577"
      decimals="-3"
      id="ix_124_fact"
      unitRef="eur">246000</ello:AmortizationOfCapitalizedExpensesRelatedToProjectsFinance>
    <ello:AmortizationOfCapitalizedExpensesRelatedToProjectsFinance
      contextRef="c578"
      decimals="-3"
      id="ix_125_fact"
      unitRef="eur">12180000</ello:AmortizationOfCapitalizedExpensesRelatedToProjectsFinance>
    <ifrs-full:InterestExpenseOnBorrowings
      contextRef="c576"
      decimals="-3"
      id="ixv-66161"
      unitRef="eur">2014000</ifrs-full:InterestExpenseOnBorrowings>
    <ifrs-full:InterestExpenseOnBorrowings
      contextRef="c577"
      decimals="-3"
      id="ix_126_fact"
      unitRef="eur">1529000</ifrs-full:InterestExpenseOnBorrowings>
    <ifrs-full:InterestExpenseOnBorrowings
      contextRef="c578"
      decimals="-3"
      id="ix_127_fact"
      unitRef="eur">2055000</ifrs-full:InterestExpenseOnBorrowings>
    <ifrs-full:BankAndSimilarCharges
      contextRef="c576"
      decimals="-3"
      id="ixv-66164"
      unitRef="eur">247000</ifrs-full:BankAndSimilarCharges>
    <ifrs-full:BankAndSimilarCharges
      contextRef="c577"
      decimals="-3"
      id="ix_128_fact"
      unitRef="eur">471000</ifrs-full:BankAndSimilarCharges>
    <ifrs-full:BankAndSimilarCharges
      contextRef="c578"
      decimals="-3"
      id="ix_129_fact"
      unitRef="eur">137000</ifrs-full:BankAndSimilarCharges>
    <ifrs-full:InterestExpenseOnLeaseLiabilities
      contextRef="c576"
      decimals="-3"
      id="ixv-66167"
      unitRef="eur">341000</ifrs-full:InterestExpenseOnLeaseLiabilities>
    <ifrs-full:InterestExpenseOnLeaseLiabilities
      contextRef="c577"
      decimals="-3"
      id="ix_130_fact"
      unitRef="eur">296000</ifrs-full:InterestExpenseOnLeaseLiabilities>
    <ifrs-full:InterestExpenseOnLeaseLiabilities
      contextRef="c578"
      decimals="-3"
      id="ix_131_fact"
      unitRef="eur">294000</ifrs-full:InterestExpenseOnLeaseLiabilities>
    <ifrs-full:NetForeignExchangeLoss
      contextRef="c578"
      decimals="-3"
      id="ix_132_fact"
      unitRef="eur">5394000</ifrs-full:NetForeignExchangeLoss>
    <ello:FinanceExpenses
      contextRef="c576"
      decimals="-3"
      id="ixv-66171"
      unitRef="eur">12555000</ello:FinanceExpenses>
    <ello:FinanceExpenses
      contextRef="c577"
      decimals="-3"
      id="ix_133_fact"
      unitRef="eur">10524000</ello:FinanceExpenses>
    <ello:FinanceExpenses
      contextRef="c578"
      decimals="-3"
      id="ix_134_fact"
      unitRef="eur">28434000</ello:FinanceExpenses>
    <ifrs-full:DisclosureOfIncomeTaxExplanatory contextRef="c0" id="ixv-37076">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Note
19 - Taxes on Income &lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;A.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Regional
                                            Taxation&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&lt;span style="text-decoration:underline"&gt;Israeli
taxation&lt;/span&gt;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
tax rate that is relevant to the Company in the years 2021-2023: 23%.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&lt;span style="text-decoration:underline"&gt;Luxembourg
taxation&lt;/span&gt;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;span style="text-decoration:underline"&gt;Net
wealth tax (NWT):&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The real NWT is calculated by the difference between the entity&#x2019;s total assets and entity&#x2019;s total liabilities (exemption can be applied) multiplied by 0.5% if the fortune is lower than &#x20ac;500 thousand.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The minimum NWT is from &#x20ac;535 to &#x20ac;32,100.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&lt;span style="text-decoration:underline"&gt;Italian
taxation&lt;/span&gt;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;As
a rule, corporate income tax (IRES) is payable by all resident companies on income from any source, whether earned in Italy or abroad
(also for branch established in other country), at the rate of 24%.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Both
resident and non-resident companies are subject to regional income tax (IRAP), but only on income arising in Italy at the rate from 3.29%
(in 2024 the minimum rate will increase to 3.9%) to 4.82%, depending on the region.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&lt;span style="text-decoration:underline"&gt;Spanish
taxation&lt;/span&gt;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;As
a rule, corporate income tax is payable by all resident companies on income from any source, whether earned in Spain or abroad at the
rate of 25%. Commencing January 1, 2021, Spanish companies are allowed to deduct financing expenses in an amount up to 30% of their EBITDA
from one million in financial expenses and up to one million of financial expenses can be deducted in the CIT without having to apply
30% of EBITDA, with the remainder being carried forward to following years.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&lt;span style="text-decoration:underline"&gt;The
Netherlands taxation&lt;/span&gt;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;In
2023, the Dutch corporate income tax rate was 19% on the first &#x20ac;200 thousand of taxable profits, and 25.8% on taxable profits exceeding
that amount. In 2022, 15% on the first &#x20ac;395 thousand of taxable profits and 25% on taxable profits exceeding that amount. In 2021,
15% on the first &#x20ac;245 thousand of taxable profits and 25% on taxable profits exceeding that amount.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;B.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Composition of income tax benefit (taxes on income):&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;For
    the year ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Current tax expense&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Current
    year&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(932&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,826&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(977&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(932&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,826&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(977&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Deferred tax income&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Creation and reversal of temporary differences&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,655&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;174&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3,513&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Adjustments for prior
    years, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;713&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-224; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-225; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,368&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;174&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3,513&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Tax benefit (taxes on
    income)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,436&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,652&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,536&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;*&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Reclassified due to discontinued operation - see Note 23.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;C.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Reconciliation between the theoretical tax on the pre-tax profit and the tax expense:&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Profit
    (loss) before taxes on income&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;976&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,081&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(22,935&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Primary
    tax rate of the Company&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;23&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;23&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;23&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Tax
    benefit (tax expenses) calculated according to the Company&#x2019;s primary tax rate&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(224&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(249&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5,275&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Additional
    tax saving in respect of:&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Different
    tax rate of foreign subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(72&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(488&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(40&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Neutralization
    of tax calculated in respect of the Company&#x2019;s share in profits of equity accounted investees&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;994&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;277&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;27&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Difference
    between measurement basis of income (expenses) for tax purposes and measurement basis of income (expenses) for financial reporting
    purposes&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(47&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(706&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-226; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Changes
    in deferred taxes for tax losses and benefits from previous years for which deferred taxes were not created in the past&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;713&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;282&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-227; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Utilization
    of tax losses and benefits from prior years for which deferred taxes were not created&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,363&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;566&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-228; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Change
    in temporary differences for which deferred tax were not recognized&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;106&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-229; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;51&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Current
    year tax losses and benefits for which deferred taxes were not created&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,275&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,199&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(2,770&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Permanent
differences&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(122&lt;/td&gt;&lt;td style="padding-right: 2.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(135&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(7&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Actual
    tax benefit (taxes on income)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,436&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,652&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,536&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;*&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Reclassified
due to discontinued operation - see Note 23.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;D.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Carry
                                            forward tax losses:&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;As
of December 31, 2023, Ellomay Capital Ltd. had no available carry forward tax losses. Ellomay Capital Ltd. had carry forward capital
tax losses in the amount of approximately &#x20ac;1,361 thousand, which have no expiration date.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Deferred
taxes of Ellomay Capital Ltd. have not been recognized because the Company&#x2019;s management currently believes that as the Company
has a history of losses it is more likely than not that the deferred tax regarding losses carry forward will not be utilized in the foreseeable
future.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Deferred
taxes are recognized by operating subsidiaries for unused tax losses, tax benefits and deductible temporary differences, to the extent
that it is probable that future taxable profits will be available against which they can be utilized.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;As
of December 31, 2023, the Company&#x2019;s Dutch subsidiaries had carry forward tax losses and deductions aggregating to approximately
&#x20ac;18,906 thousand. Of such carry forward tax losses, a deferred tax asset amounting to approximately &#x20ac;1,592 thousand was not
recorded.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;E.&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Deferred taxes:&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Financial&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Fixed&lt;br/&gt;
    assets and&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Swap&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Carry-&lt;br/&gt;
    forward &lt;br/&gt;
tax&lt;/span&gt;deductions&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;assets&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;leases&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;contract&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt; and losses&lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="18" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; width: 40%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Balance
    of deferred tax asset (liability) as at January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(3,642&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(2,124&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;14,944&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;7,562&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;16,740&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Changes
    recognized in profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;690&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;774&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-230; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;1,594&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;3,058&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Changes
    recognized in other comprehensive income&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;235&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-231; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(16,589&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-232; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(16,354&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Transfer
    to disposal groups held for sale (see Note 23)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2,717&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-233; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-234; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-235; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2,717&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Balance
    of deferred tax asset (liability) as at December 31, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-236; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(1,350&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(1,645&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;9,156&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;6,161&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Financial&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Fixed&lt;br/&gt;
    assets and&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Swap&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Carry-&lt;br/&gt;
    forward &lt;br/&gt;
taxdeductions&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;assets&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;leases&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;contract&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"&gt;and
losses&lt;/p&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; width: 40%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Balance
    of deferred tax asset (liability) as at January 1, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(6,964&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(1,555&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;5,400&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;7,027&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;3,908&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Changes
    recognized in profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;3,065&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(569&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-237; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;538&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;3,034&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Changes
    recognized in other comprehensive income&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;257&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-238; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;9,544&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(3&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;9,798&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Balance
    of deferred tax asset (liability) as at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(3,642&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(2,124&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;14,944&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;7,562&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;16,740&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfIncomeTaxExplanatory>
    <ello:RelevantTaxRate contextRef="c0" decimals="2" id="ixv-66174" unitRef="pure">0.23</ello:RelevantTaxRate>
    <ello:RelevantTaxRate contextRef="c5" decimals="2" id="ixv-66175" unitRef="pure">0.23</ello:RelevantTaxRate>
    <ello:PercentageOfNetWealthTaxRate
      contextRef="c579"
      decimals="3"
      id="ixv-66176"
      unitRef="pure">0.005</ello:PercentageOfNetWealthTaxRate>
    <ello:AmountOfMinimumNetWealthTax contextRef="c0" decimals="-3" id="ixv-66177" unitRef="eur">500000</ello:AmountOfMinimumNetWealthTax>
    <ello:AmountOfMinimumNetWealthTax contextRef="c75" decimals="-3" id="ixv-66178" unitRef="eur">535000</ello:AmountOfMinimumNetWealthTax>
    <ello:AmountOfMaximumNetWealthTax contextRef="c76" decimals="-3" id="ixv-66179" unitRef="eur">32100000</ello:AmountOfMaximumNetWealthTax>
    <ello:RelevantTaxRate
      contextRef="c580"
      decimals="2"
      id="ixv-66180"
      unitRef="pure">0.24</ello:RelevantTaxRate>
    <ifrs-full:ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod contextRef="c581" id="ixv-66181">only on income arising in Italy at the rate from 3.29%
(in 2024 the minimum rate will increase to 3.9%) to 4.82%</ifrs-full:ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod>
    <ello:RelevantTaxRate
      contextRef="c582"
      decimals="2"
      id="ixv-66182"
      unitRef="pure">0.25</ello:RelevantTaxRate>
    <ello:MaximumPercentageOfDeductionInFinancingExpensesOfEbitda
      contextRef="c582"
      decimals="2"
      id="ixv-66183"
      unitRef="pure">0.30</ello:MaximumPercentageOfDeductionInFinancingExpensesOfEbitda>
    <ifrs-full:ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss
      contextRef="c582"
      decimals="-6"
      id="ixv-66184"
      unitRef="eur">1000000</ifrs-full:ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss>
    <ifrs-full:ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss contextRef="c0" decimals="-6" id="ixv-66185" unitRef="eur">1000000</ifrs-full:ExpensesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss>
    <ello:MaximumPercentageOfDeductionInFinancingExpensesOfEbitda contextRef="c0" decimals="2" id="ixv-66186" unitRef="pure">0.30</ello:MaximumPercentageOfDeductionInFinancingExpensesOfEbitda>
    <ello:RelevantTaxRate
      contextRef="c583"
      decimals="2"
      id="ixv-66187"
      unitRef="pure">0.19</ello:RelevantTaxRate>
    <ifrs-full:TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense
      contextRef="c583"
      decimals="-3"
      id="ixv-66188"
      unitRef="eur">200000</ifrs-full:TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense>
    <ello:PercetageOfTaxableProfitsExceeding
      contextRef="c583"
      decimals="3"
      id="ixv-66189"
      unitRef="pure">0.258</ello:PercetageOfTaxableProfitsExceeding>
    <ello:RelevantTaxRate
      contextRef="c584"
      decimals="2"
      id="ixv-66190"
      unitRef="pure">0.15</ello:RelevantTaxRate>
    <ifrs-full:TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense
      contextRef="c584"
      decimals="-3"
      id="ixv-66191"
      unitRef="eur">395000</ifrs-full:TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense>
    <ello:PercetageOfTaxableProfitsExceeding
      contextRef="c584"
      decimals="2"
      id="ixv-66192"
      unitRef="pure">0.25</ello:PercetageOfTaxableProfitsExceeding>
    <ello:RelevantTaxRate
      contextRef="c585"
      decimals="2"
      id="ixv-66193"
      unitRef="pure">0.15</ello:RelevantTaxRate>
    <ifrs-full:TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense
      contextRef="c585"
      decimals="-3"
      id="ixv-66194"
      unitRef="eur">245000</ifrs-full:TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense>
    <ello:PercetageOfTaxableProfitsExceeding
      contextRef="c585"
      decimals="2"
      id="ixv-66195"
      unitRef="pure">0.25</ello:PercetageOfTaxableProfitsExceeding>
    <ello:DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock contextRef="c0" id="ixv-37179">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;B.&lt;/b&gt;&lt;/span&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Composition of income tax benefit (taxes on income):&lt;/b&gt;&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;For
    the year ended December 31&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Current tax expense&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Current
    year&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(932&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,826&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(977&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(932&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,826&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(977&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Deferred tax income&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Creation and reversal of temporary differences&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,655&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;174&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3,513&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Adjustments for prior
    years, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;713&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-224; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-225; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,368&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;174&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;3,513&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Tax benefit (taxes on
    income)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,436&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,652&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,536&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;*&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Reclassified due to discontinued operation - see Note 23.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;</ello:DisclosureOfIncomeTaxExpenseBenefitsExplanatoryTextBlock>
    <ifrs-full:CurrentTaxExpenseIncome contextRef="c0" decimals="-3" id="ixv-66196" unitRef="eur">932000</ifrs-full:CurrentTaxExpenseIncome>
    <ifrs-full:CurrentTaxExpenseIncome
      contextRef="c4"
      decimals="-3"
      id="ix_135_fact"
      unitRef="eur">1826000</ifrs-full:CurrentTaxExpenseIncome>
    <ifrs-full:CurrentTaxExpenseIncome
      contextRef="c5"
      decimals="-3"
      id="ix_136_fact"
      unitRef="eur">977000</ifrs-full:CurrentTaxExpenseIncome>
    <ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods contextRef="c0" decimals="-3" id="ixv-66199" unitRef="eur">-932000</ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods>
    <ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods
      contextRef="c4"
      decimals="-3"
      id="ix_137_fact"
      unitRef="eur">-1826000</ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods>
    <ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods
      contextRef="c5"
      decimals="-3"
      id="ix_138_fact"
      unitRef="eur">-977000</ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods>
    <ifrs-full:DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences contextRef="c0" decimals="-3" id="ixv-66202" unitRef="eur">1655000</ifrs-full:DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences>
    <ifrs-full:DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences
      contextRef="c4"
      decimals="-3"
      id="ix_139_fact"
      unitRef="eur">174000</ifrs-full:DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences>
    <ifrs-full:DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences
      contextRef="c5"
      decimals="-3"
      id="ix_140_fact"
      unitRef="eur">3513000</ifrs-full:DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences>
    <ifrs-full:AdjustmentsForDeferredTaxOfPriorPeriods contextRef="c0" decimals="-3" id="ixv-66205" unitRef="eur">713000</ifrs-full:AdjustmentsForDeferredTaxOfPriorPeriods>
    <ifrs-full:AdjustmentsForDeferredTaxExpense contextRef="c0" decimals="-3" id="ixv-66206" unitRef="eur">2368000</ifrs-full:AdjustmentsForDeferredTaxExpense>
    <ifrs-full:AdjustmentsForDeferredTaxExpense
      contextRef="c4"
      decimals="-3"
      id="ix_141_fact"
      unitRef="eur">174000</ifrs-full:AdjustmentsForDeferredTaxExpense>
    <ifrs-full:AdjustmentsForDeferredTaxExpense
      contextRef="c5"
      decimals="-3"
      id="ix_142_fact"
      unitRef="eur">3513000</ifrs-full:AdjustmentsForDeferredTaxExpense>
    <ello:TaxBenefittaxesOnIncome contextRef="c0" decimals="-3" id="ixv-66209" unitRef="eur">-1436000</ello:TaxBenefittaxesOnIncome>
    <ello:TaxBenefittaxesOnIncome
      contextRef="c4"
      decimals="-3"
      id="ix_143_fact"
      unitRef="eur">1652000</ello:TaxBenefittaxesOnIncome>
    <ello:TaxBenefittaxesOnIncome
      contextRef="c5"
      decimals="-3"
      id="ix_144_fact"
      unitRef="eur">-2536000</ello:TaxBenefittaxesOnIncome>
    <ello:DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock contextRef="c0" id="ixv-37518">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;C.&lt;/b&gt;&lt;/span&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Reconciliation between the theoretical tax on the pre-tax profit and the tax expense:&lt;/b&gt;&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2022&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;*2021&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Profit
    (loss) before taxes on income&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;976&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,081&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(22,935&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Primary
    tax rate of the Company&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;23&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;23&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;23&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Tax
    benefit (tax expenses) calculated according to the Company&#x2019;s primary tax rate&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(224&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(249&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;5,275&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Additional
    tax saving in respect of:&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Different
    tax rate of foreign subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(72&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(488&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(40&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Neutralization
    of tax calculated in respect of the Company&#x2019;s share in profits of equity accounted investees&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;994&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;277&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;27&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Difference
    between measurement basis of income (expenses) for tax purposes and measurement basis of income (expenses) for financial reporting
    purposes&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(47&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(706&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-226; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Changes
    in deferred taxes for tax losses and benefits from previous years for which deferred taxes were not created in the past&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;713&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;282&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-227; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Utilization
    of tax losses and benefits from prior years for which deferred taxes were not created&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,363&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;566&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-228; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Change
    in temporary differences for which deferred tax were not recognized&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;106&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-229; font-family: Times New Roman, Times, Serif"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;51&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Current
    year tax losses and benefits for which deferred taxes were not created&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,275&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,199&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(2,770&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Permanent
differences&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(122&lt;/td&gt;&lt;td style="padding-right: 2.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(135&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(7&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Actual
    tax benefit (taxes on income)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;1,436&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(1,652&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;2,536&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;*&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Reclassified
due to discontinued operation - see Note 23.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ello:DisclosureOfReconciliationOfEffectiveTaxRateExplanatoryTableTextBlock>
    <ello:ProfitlossBeforeTaxesOnIncome contextRef="c0" decimals="-3" id="ixv-66212" unitRef="eur">976000</ello:ProfitlossBeforeTaxesOnIncome>
    <ello:ProfitlossBeforeTaxesOnIncome
      contextRef="c4"
      decimals="-3"
      id="ix_145_fact"
      unitRef="eur">1081000</ello:ProfitlossBeforeTaxesOnIncome>
    <ello:ProfitlossBeforeTaxesOnIncome
      contextRef="c5"
      decimals="-3"
      id="ix_146_fact"
      unitRef="eur">-22935000</ello:ProfitlossBeforeTaxesOnIncome>
    <ifrs-full:ApplicableTaxRate contextRef="c0" decimals="2" id="ixv-66215" unitRef="pure">0.23</ifrs-full:ApplicableTaxRate>
    <ifrs-full:ApplicableTaxRate
      contextRef="c4"
      decimals="2"
      id="ix_147_fact"
      unitRef="pure">0.23</ifrs-full:ApplicableTaxRate>
    <ifrs-full:ApplicableTaxRate
      contextRef="c5"
      decimals="2"
      id="ix_148_fact"
      unitRef="pure">0.23</ifrs-full:ApplicableTaxRate>
    <ifrs-full:TaxEffectOfForeignTaxRates contextRef="c0" decimals="-3" id="ixv-66218" unitRef="eur">-224000</ifrs-full:TaxEffectOfForeignTaxRates>
    <ifrs-full:TaxEffectOfForeignTaxRates
      contextRef="c4"
      decimals="-3"
      id="ix_149_fact"
      unitRef="eur">-249000</ifrs-full:TaxEffectOfForeignTaxRates>
    <ifrs-full:TaxEffectOfForeignTaxRates
      contextRef="c5"
      decimals="-3"
      id="ix_150_fact"
      unitRef="eur">5275000</ifrs-full:TaxEffectOfForeignTaxRates>
    <ifrs-full:AccountingProfit contextRef="c0" decimals="-3" id="ixv-66221" unitRef="eur">72000</ifrs-full:AccountingProfit>
    <ifrs-full:AccountingProfit
      contextRef="c4"
      decimals="-3"
      id="ix_151_fact"
      unitRef="eur">488000</ifrs-full:AccountingProfit>
    <ifrs-full:AccountingProfit
      contextRef="c5"
      decimals="-3"
      id="ix_152_fact"
      unitRef="eur">40000</ifrs-full:AccountingProfit>
    <ello:NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees contextRef="c0" decimals="-3" id="ixv-66224" unitRef="eur">994000</ello:NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees>
    <ello:NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees
      contextRef="c4"
      decimals="-3"
      id="ix_153_fact"
      unitRef="eur">277000</ello:NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees>
    <ello:NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees
      contextRef="c5"
      decimals="-3"
      id="ix_154_fact"
      unitRef="eur">27000</ello:NeutralizationOfTaxCalculatedInRespectOfCompanysShareInProfitsOfEquityAccountedInvestees>
    <ello:DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes contextRef="c0" decimals="-3" id="ixv-66227" unitRef="eur">-47000</ello:DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes>
    <ello:DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes
      contextRef="c4"
      decimals="-3"
      id="ix_155_fact"
      unitRef="eur">-706000</ello:DifferenceBetweenMeasurementBasisOfIncomeExpensesForTaxPurposesAndMeasurementBasisOfIncomeExpensesForFinancialReportingPurposes>
    <ello:CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast contextRef="c0" decimals="-3" id="ixv-66229" unitRef="eur">713000</ello:CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast>
    <ello:CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast
      contextRef="c4"
      decimals="-3"
      id="ix_156_fact"
      unitRef="eur">282000</ello:CreationOfDeferredTaxesForTaxLossesAndBenefitsFromPreviousYearsForWhichDeferredTaxesWereNotCreatedInPast>
    <ifrs-full:DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes contextRef="c0" decimals="-3" id="ixv-66231" unitRef="eur">1363000</ifrs-full:DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes>
    <ifrs-full:DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes
      contextRef="c4"
      decimals="-3"
      id="ix_157_fact"
      unitRef="eur">566000</ifrs-full:DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes>
    <ello:ChangeInTemporaryTaxDifferences contextRef="c0" decimals="-3" id="ixv-66233" unitRef="eur">106000</ello:ChangeInTemporaryTaxDifferences>
    <ello:ChangeInTemporaryTaxDifferences
      contextRef="c5"
      decimals="-3"
      id="ix_158_fact"
      unitRef="eur">51000</ello:ChangeInTemporaryTaxDifferences>
    <ello:CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers contextRef="c0" decimals="-3" id="ixv-66235" unitRef="eur">-1275000</ello:CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers>
    <ello:CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers
      contextRef="c4"
      decimals="-3"
      id="ix_159_fact"
      unitRef="eur">-1199000</ello:CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers>
    <ello:CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers
      contextRef="c5"
      decimals="-3"
      id="ix_160_fact"
      unitRef="eur">-2770000</ello:CurrentYearTaxLossesAndBenefitsForWhichDeferredTaxesWereNotCreatedReserveOfUncertainTaxPositionAndOthers>
    <ello:TaxesInRespectToPreviousYearsAndOthers contextRef="c0" decimals="-3" id="ixv-66238" unitRef="eur">-122000</ello:TaxesInRespectToPreviousYearsAndOthers>
    <ello:TaxesInRespectToPreviousYearsAndOthers
      contextRef="c4"
      decimals="-3"
      id="ix_161_fact"
      unitRef="eur">-135000</ello:TaxesInRespectToPreviousYearsAndOthers>
    <ello:TaxesInRespectToPreviousYearsAndOthers
      contextRef="c5"
      decimals="-3"
      id="ix_162_fact"
      unitRef="eur">-7000</ello:TaxesInRespectToPreviousYearsAndOthers>
    <ello:ActualTaxBenefittaxesOnIncome contextRef="c0" decimals="-3" id="ixv-66241" unitRef="eur">-1436000</ello:ActualTaxBenefittaxesOnIncome>
    <ello:ActualTaxBenefittaxesOnIncome
      contextRef="c4"
      decimals="-3"
      id="ix_163_fact"
      unitRef="eur">1652000</ello:ActualTaxBenefittaxesOnIncome>
    <ello:ActualTaxBenefittaxesOnIncome
      contextRef="c5"
      decimals="-3"
      id="ix_164_fact"
      unitRef="eur">-2536000</ello:ActualTaxBenefittaxesOnIncome>
    <ello:TaxLossCarryforwards
      contextRef="c586"
      decimals="-3"
      id="ixv-66244"
      unitRef="eur">18906000</ello:TaxLossCarryforwards>
    <ello:TaxLossCarryforwards contextRef="c0" decimals="-3" id="ixv-66245" unitRef="eur">1592000</ello:TaxLossCarryforwards>
    <ifrs-full:DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory contextRef="c0" id="ixv-38016">&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Deferred taxes:&lt;/b&gt;&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Financial&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Fixed&lt;br/&gt;
    assets and&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Swap&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Carry-&lt;br/&gt;
    forward &lt;br/&gt;
tax&lt;/span&gt;deductions&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;assets&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;leases&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;contract&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt; and losses&lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="18" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; width: 40%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Balance
    of deferred tax asset (liability) as at January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(3,642&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(2,124&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;14,944&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;7,562&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 9%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;16,740&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Changes
    recognized in profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;690&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;774&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-230; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;1,594&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;3,058&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Changes
    recognized in other comprehensive income&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;235&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-231; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(16,589&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-232; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(16,354&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Transfer
    to disposal groups held for sale (see Note 23)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2,717&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-233; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-234; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-235; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2,717&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Balance
    of deferred tax asset (liability) as at December 31, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-236; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(1,350&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(1,645&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;9,156&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;6,161&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Financial&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Fixed&lt;br/&gt;
    assets and&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Swap&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Carry-&lt;br/&gt;
    forward &lt;br/&gt;
taxdeductions&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;assets&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;leases&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;contract&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"&gt;and
losses&lt;/p&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; width: 40%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Balance
    of deferred tax asset (liability) as at January 1, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(6,964&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(1,555&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;5,400&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;7,027&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;3,908&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Changes
    recognized in profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;3,065&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(569&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-237; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;538&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;3,034&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Changes
    recognized in other comprehensive income&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;257&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-238; font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;9,544&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(3&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;9,798&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
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    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(3,642&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;(2,124&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;14,944&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;7,562&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;16,740&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory>
    <ifrs-full:DeferredTaxLiabilityAsset
      contextRef="c587"
      decimals="-3"
      id="ixv-66246"
      unitRef="eur">-3642000</ifrs-full:DeferredTaxLiabilityAsset>
    <ifrs-full:DeferredTaxLiabilityAsset
      contextRef="c588"
      decimals="-3"
      id="ixv-66247"
      unitRef="eur">-2124000</ifrs-full:DeferredTaxLiabilityAsset>
    <ifrs-full:DeferredTaxLiabilityAsset
      contextRef="c589"
      decimals="-3"
      id="ixv-66248"
      unitRef="eur">14944000</ifrs-full:DeferredTaxLiabilityAsset>
    <ifrs-full:DeferredTaxLiabilityAsset
      contextRef="c590"
      decimals="-3"
      id="ixv-66249"
      unitRef="eur">7562000</ifrs-full:DeferredTaxLiabilityAsset>
    <ifrs-full:DeferredTaxLiabilityAsset contextRef="c3" decimals="-3" id="ixv-66250" unitRef="eur">16740000</ifrs-full:DeferredTaxLiabilityAsset>
    <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss
      contextRef="c591"
      decimals="-3"
      id="ixv-66251"
      unitRef="eur">690000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
    <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss
      contextRef="c592"
      decimals="-3"
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    <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss
      contextRef="c594"
      decimals="-3"
      id="ixv-66253"
      unitRef="eur">1594000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
    <ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss contextRef="c0" decimals="-3" id="ixv-66254" unitRef="eur">3058000</ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss>
    <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome
      contextRef="c591"
      decimals="-3"
      id="ixv-66255"
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    <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome
      contextRef="c593"
      decimals="-3"
      id="ixv-66256"
      unitRef="eur">-16589000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome>
    <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome contextRef="c0" decimals="-3" id="ixv-66257" unitRef="eur">-16354000</ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome>
    <ello:TransferToDisposalGroupsHeldForSaleseeNote23
      contextRef="c591"
      decimals="-3"
      id="ixv-66258"
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    <ello:TransferToDisposalGroupsHeldForSaleseeNote23 contextRef="c0" decimals="-3" id="ixv-66259" unitRef="eur">2717000</ello:TransferToDisposalGroupsHeldForSaleseeNote23>
    <ifrs-full:DeferredTaxLiabilityAsset
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      decimals="-3"
      id="ixv-66260"
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    <ifrs-full:DeferredTaxLiabilityAsset
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      decimals="-3"
      id="ixv-66261"
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    <ifrs-full:DeferredTaxLiabilityAsset
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      decimals="-3"
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    <ifrs-full:DeferredTaxLiabilityAsset contextRef="c2" decimals="-3" id="ixv-66263" unitRef="eur">6161000</ifrs-full:DeferredTaxLiabilityAsset>
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      decimals="-3"
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      decimals="-3"
      id="ixv-66265"
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    <ifrs-full:DeferredTaxLiabilityAsset
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    <ifrs-full:DeferredTaxLiabilityAsset contextRef="c40" decimals="-3" id="ixv-66268" unitRef="eur">3908000</ifrs-full:DeferredTaxLiabilityAsset>
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    <ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome
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      decimals="-3"
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      contextRef="c590"
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    <ifrs-full:EarningsPerShareExplanatory contextRef="c0" id="ixv-38600">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 20 - Earnings Per Share&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The calculation of basic earnings per
share as at December 31, 2023, 2022 and 2021 was based on the profit attributable to the Company&#x2019;s shareholders divided by a weighted
average number of ordinary shares outstanding, calculated as follows:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the year ended December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands (other than share and per share data)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-bottom: 4pt"&gt;Net profit (loss) attributed to owners of the Company&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;2,219&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;(357&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;(15,090&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Net profit (loss) attributed to owners of the Company from continuing operations&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;4,006&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1,068&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(15,849&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Net profit (loss) attributed to owners of the Company from discontinued operation. See Note 23.&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(1,787&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;711&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;759&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Weighted average ordinary shares outstanding &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;12,852,585&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;12,850,118&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;12,824,088&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Dilutive effect:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Stock options and warrants&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;3,462&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;7,796&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;8,637&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Diluted weighted average ordinary shares outstanding&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"&gt;&lt;b&gt;12,856,047 &lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align: super; padding-bottom: 4pt; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;sup&gt;(2)&lt;/sup&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"&gt;12,857,914 &lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align: super; padding-bottom: 4pt; text-align: left"&gt;&lt;sup&gt;(2)&lt;/sup&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"&gt;12,832,725 &lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align: super; padding-bottom: 2.5pt; text-align: left"&gt;&lt;sup&gt;(2)&lt;/sup&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Basic net earning (loss) per share&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;0.17&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(0.03&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1.18&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Diluted net earning (loss) per share&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;0.17&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(0.03&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1.18&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Basic profit (loss) per share from continuing operations&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;0.31&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(0.08&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1.24&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Diluted profit (loss) per share from continuing operations&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;0.31&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(0.08&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1.24&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Basic profit (loss) per share from discontinued operation&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(0.14&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.05&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.06&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Diluted profit (loss) per share from discontinued operation&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(0.14&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.05&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.06&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;(1)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Net of treasury shares.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;(2)&lt;/td&gt;&lt;td style="text-align: justify"&gt;In 2023, 2022 and 2021 share options and warrants did not have a dilutive effect.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.85pt; text-align: justify; text-indent: -35.4pt"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;As of December 31, 2023 794 thousand options
and warrants (in 2022 and 2021: 779 thousand and 762 thousand, respectively) were excluded from the diluted weighted average number
of ordinary shares calculation as their effect would have been anti-dilutive.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The average market value of the Company&#x2019;s
shares for purposes of calculating the dilutive effect of share options was based on quoted market prices for the period that the options
were outstanding.&lt;/p&gt;</ifrs-full:EarningsPerShareExplanatory>
    <ifrs-full:DisclosureOfEarningsPerShareExplanatory contextRef="c0" id="ixv-66282">The calculation of basic earnings per
share as at December 31, 2023, 2022 and 2021 was based on the profit attributable to the Company&#x2019;s shareholders divided by a weighted
average number of ordinary shares outstanding, calculated as follows:&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the year ended December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands (other than share and per share data)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-bottom: 4pt"&gt;Net profit (loss) attributed to owners of the Company&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;2,219&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;(357&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;(15,090&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Net profit (loss) attributed to owners of the Company from continuing operations&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;4,006&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1,068&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(15,849&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Net profit (loss) attributed to owners of the Company from discontinued operation. See Note 23.&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(1,787&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;711&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;759&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Weighted average ordinary shares outstanding &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;12,852,585&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;12,850,118&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;12,824,088&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Dilutive effect:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Stock options and warrants&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;3,462&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;7,796&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;8,637&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Diluted weighted average ordinary shares outstanding&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"&gt;&lt;b&gt;12,856,047 &lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align: super; padding-bottom: 4pt; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;sup&gt;(2)&lt;/sup&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"&gt;12,857,914 &lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align: super; padding-bottom: 4pt; text-align: left"&gt;&lt;sup&gt;(2)&lt;/sup&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"&gt;12,832,725 &lt;/p&gt;&lt;/td&gt;&lt;td style="vertical-align: super; padding-bottom: 2.5pt; text-align: left"&gt;&lt;sup&gt;(2)&lt;/sup&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Basic net earning (loss) per share&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;0.17&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(0.03&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1.18&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Diluted net earning (loss) per share&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;0.17&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(0.03&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1.18&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Basic profit (loss) per share from continuing operations&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;0.31&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(0.08&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1.24&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Diluted profit (loss) per share from continuing operations&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;0.31&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(0.08&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1.24&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Basic profit (loss) per share from discontinued operation&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(0.14&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.05&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.06&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Diluted profit (loss) per share from discontinued operation&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(0.14&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.05&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.06&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;(1)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Net of treasury shares.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;(2)&lt;/td&gt;&lt;td style="text-align: justify"&gt;In 2023, 2022 and 2021 share options and warrants did not have a dilutive effect.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfEarningsPerShareExplanatory>
    <ifrs-full:ProfitLossAttributableToOwnersOfParent contextRef="c0" decimals="-3" id="ixv-66283" unitRef="eur">2219000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
    <ifrs-full:ProfitLossAttributableToOwnersOfParent contextRef="c4" decimals="-3" id="ixv-66284" unitRef="eur">-357000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
    <ifrs-full:ProfitLossAttributableToOwnersOfParent contextRef="c5" decimals="-3" id="ixv-66285" unitRef="eur">-15090000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
    <ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity contextRef="c0" decimals="-3" id="ixv-66286" unitRef="eur">4006000</ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity>
    <ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity contextRef="c4" decimals="-3" id="ixv-66287" unitRef="eur">-1068000</ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity>
    <ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity contextRef="c5" decimals="-3" id="ixv-66288" unitRef="eur">-15849000</ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity>
    <ifrs-full:IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent contextRef="c0" decimals="-3" id="ixv-66289" unitRef="eur">-1787000</ifrs-full:IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent>
    <ifrs-full:IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent contextRef="c4" decimals="-3" id="ixv-66290" unitRef="eur">711000</ifrs-full:IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent>
    <ifrs-full:IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent contextRef="c5" decimals="-3" id="ixv-66291" unitRef="eur">759000</ifrs-full:IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent>
    <ifrs-full:WeightedAverageShares
      contextRef="c0"
      decimals="INF"
      id="ix_165_fact"
      unitRef="shares">12852585</ifrs-full:WeightedAverageShares>
    <ifrs-full:WeightedAverageShares
      contextRef="c4"
      decimals="INF"
      id="ix_166_fact"
      unitRef="shares">12850118</ifrs-full:WeightedAverageShares>
    <ifrs-full:WeightedAverageShares
      contextRef="c5"
      decimals="INF"
      id="ix_167_fact"
      unitRef="shares">12824088</ifrs-full:WeightedAverageShares>
    <ello:AmountOfDilutiveStockOptionsAndWarrants contextRef="c0" decimals="-3" id="ixv-66295" unitRef="eur">3462000</ello:AmountOfDilutiveStockOptionsAndWarrants>
    <ello:AmountOfDilutiveStockOptionsAndWarrants contextRef="c4" decimals="-3" id="ixv-66296" unitRef="eur">7796000</ello:AmountOfDilutiveStockOptionsAndWarrants>
    <ello:AmountOfDilutiveStockOptionsAndWarrants contextRef="c5" decimals="-3" id="ixv-66297" unitRef="eur">8637000</ello:AmountOfDilutiveStockOptionsAndWarrants>
    <ifrs-full:AdjustedWeightedAverageShares
      contextRef="c0"
      decimals="INF"
      id="ix_168_fact"
      unitRef="shares">12856047</ifrs-full:AdjustedWeightedAverageShares>
    <ifrs-full:AdjustedWeightedAverageShares
      contextRef="c4"
      decimals="INF"
      id="ix_169_fact"
      unitRef="shares">12857914</ifrs-full:AdjustedWeightedAverageShares>
    <ifrs-full:AdjustedWeightedAverageShares
      contextRef="c5"
      decimals="INF"
      id="ix_170_fact"
      unitRef="shares">12832725</ifrs-full:AdjustedWeightedAverageShares>
    <ifrs-full:BasicEarningsLossPerShare
      contextRef="c0"
      decimals="2"
      id="ixv-66301"
      unitRef="eurPershares">0.17</ifrs-full:BasicEarningsLossPerShare>
    <ifrs-full:BasicEarningsLossPerShare
      contextRef="c4"
      decimals="2"
      id="ixv-66302"
      unitRef="eurPershares">-0.03</ifrs-full:BasicEarningsLossPerShare>
    <ifrs-full:BasicEarningsLossPerShare
      contextRef="c5"
      decimals="2"
      id="ixv-66303"
      unitRef="eurPershares">-1.18</ifrs-full:BasicEarningsLossPerShare>
    <ifrs-full:DilutedEarningsLossPerShare
      contextRef="c0"
      decimals="2"
      id="ixv-66304"
      unitRef="eurPershares">0.17</ifrs-full:DilutedEarningsLossPerShare>
    <ifrs-full:DilutedEarningsLossPerShare
      contextRef="c4"
      decimals="2"
      id="ixv-66305"
      unitRef="eurPershares">-0.03</ifrs-full:DilutedEarningsLossPerShare>
    <ifrs-full:DilutedEarningsLossPerShare
      contextRef="c5"
      decimals="2"
      id="ixv-66306"
      unitRef="eurPershares">-1.18</ifrs-full:DilutedEarningsLossPerShare>
    <ifrs-full:BasicEarningsLossPerShareFromContinuingOperations
      contextRef="c0"
      decimals="2"
      id="ixv-66307"
      unitRef="eurPershares">0.31</ifrs-full:BasicEarningsLossPerShareFromContinuingOperations>
    <ifrs-full:BasicEarningsLossPerShareFromContinuingOperations
      contextRef="c4"
      decimals="2"
      id="ixv-66308"
      unitRef="eurPershares">-0.08</ifrs-full:BasicEarningsLossPerShareFromContinuingOperations>
    <ifrs-full:BasicEarningsLossPerShareFromContinuingOperations
      contextRef="c5"
      decimals="2"
      id="ixv-66309"
      unitRef="eurPershares">-1.24</ifrs-full:BasicEarningsLossPerShareFromContinuingOperations>
    <ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations
      contextRef="c0"
      decimals="2"
      id="ixv-66310"
      unitRef="eurPershares">0.31</ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations>
    <ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations
      contextRef="c4"
      decimals="2"
      id="ixv-66311"
      unitRef="eurPershares">-0.08</ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations>
    <ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations
      contextRef="c5"
      decimals="2"
      id="ixv-66312"
      unitRef="eurPershares">-1.24</ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations>
    <ifrs-full:BasicEarningsLossPerShareFromDiscontinuedOperations
      contextRef="c0"
      decimals="2"
      id="ixv-66313"
      unitRef="eurPershares">-0.14</ifrs-full:BasicEarningsLossPerShareFromDiscontinuedOperations>
    <ifrs-full:BasicEarningsLossPerShareFromDiscontinuedOperations
      contextRef="c4"
      decimals="2"
      id="ixv-66314"
      unitRef="eurPershares">0.05</ifrs-full:BasicEarningsLossPerShareFromDiscontinuedOperations>
    <ifrs-full:BasicEarningsLossPerShareFromDiscontinuedOperations
      contextRef="c5"
      decimals="2"
      id="ixv-66315"
      unitRef="eurPershares">0.06</ifrs-full:BasicEarningsLossPerShareFromDiscontinuedOperations>
    <ifrs-full:DilutedEarningsLossPerShareFromDiscontinuedOperations
      contextRef="c0"
      decimals="2"
      id="ixv-66316"
      unitRef="eurPershares">-0.14</ifrs-full:DilutedEarningsLossPerShareFromDiscontinuedOperations>
    <ifrs-full:DilutedEarningsLossPerShareFromDiscontinuedOperations
      contextRef="c4"
      decimals="2"
      id="ixv-66317"
      unitRef="eurPershares">0.05</ifrs-full:DilutedEarningsLossPerShareFromDiscontinuedOperations>
    <ifrs-full:DilutedEarningsLossPerShareFromDiscontinuedOperations
      contextRef="c5"
      decimals="2"
      id="ixv-66318"
      unitRef="eurPershares">0.06</ifrs-full:DilutedEarningsLossPerShareFromDiscontinuedOperations>
    <ello:weightedAverageNumberOfOrdinarySharesOptions contextRef="c0" decimals="-3" id="ixv-66321" unitRef="usd">794000</ello:weightedAverageNumberOfOrdinarySharesOptions>
    <ello:weightedAverageNumberOfOrdinarySharesOptions contextRef="c4" decimals="-3" id="ixv-66322" unitRef="usd">779000</ello:weightedAverageNumberOfOrdinarySharesOptions>
    <ello:weightedAverageNumberOfOrdinarySharesOptions contextRef="c5" decimals="-3" id="ixv-66323" unitRef="usd">762000</ello:weightedAverageNumberOfOrdinarySharesOptions>
    <ifrs-full:DisclosureOfFinancialInstrumentsExplanatory contextRef="c0" id="ixv-39014">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;Note 21 - Financial Instruments&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;A.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Overview&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The Compan&lt;span style="font-family: Times New Roman, Times, Serif"&gt;y
has exposure to the following risks from its use of financial instruments:&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x25cf;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Credit
                                            risk&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x25cf;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Liquidity
                                            risk&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x25cf;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Market
                                            risk&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;This
note presents quantitative and qualitative information about the Company&#x2019;s exposure to each of the above risks, and the Company&#x2019;s
objectives, policies and processes for measuring and managing risk.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;In
order to manage these risks a&lt;/span&gt;nd as described hereunder, the Company executes transactions in derivative financial instruments.
Presented hereunder is the composition of the derivatives:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;For the year ended December&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Derivatives presented under current assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; padding-bottom: 1.5pt"&gt;Swap contracts&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;275&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;273&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;275&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;273&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Derivatives presented under non-current assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Swap contracts&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;607&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,488&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Financial power swap&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;10,341&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-239"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;10,948&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,488&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Derivatives presented under current liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Financial power swap&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(4,643&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(33,183&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(4,643&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(33,183&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Derivatives presented under non-current liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Financial power swap&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-240"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(28,354&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-241"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(28,354&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The following table sets forth the details
of the Company&#x2019;s financial power swap and swap contracts with banking institutions:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="8" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2023&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Currency/&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Currency/&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;linkage/interest&lt;br/&gt;
 rate&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;linkage/interest&lt;br/&gt;
 rate&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Date of &lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Fair value&lt;br/&gt;
 - &#x20ac; in&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;receivable&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Payable&lt;/td&gt;&lt;td style="font-size: 1pt; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; border-bottom: Black 1.5pt solid; font-size: 10pt"&gt;&lt;b&gt;expiration&lt;/b&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;thousand&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 48%; text-align: left"&gt;Euro 17.6 million interest swap transaction for a period of 18 years, semi-annually.&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; width: 12%; text-align: center"&gt;Euribor 6 months&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; width: 11%; text-align: center"&gt;Fixed 1%&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 14%; text-align: center"&gt;December 20,&#160;2037&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;882&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Financial power swap- electricity price swap fixed for float&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: center"&gt;Electricity price in Spain&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: center"&gt;Fixed price&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;September 30,&#160;2030&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;5,698&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;B.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Risk management framework&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The Company&#x2019;s management and board
of directors have overall responsibility for the establishment and oversight of the Company&#x2019;s risk management framework.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The Company&#x2019;s risk management
policies are established to identify and analyze the risks faced by the Company, to set appropriate risk limits and controls, and to monitor
risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and
the Company&#x2019;s activities. The Company, through its training and management of standards and procedures, aims to develop a disciplined
and constructive control environment in which all employees understand their roles and obligations.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The Company&#x2019;s Audit Committee
oversees how management monitors compliance with the Company&#x2019;s risk management policies, procedures and reviews the adequacy of
the risk management framework in relation to the risks faced by the Company. The Company&#x2019;s Audit Committee is assisted in its oversight
role by Internal Audit. Internal Audit undertakes both regular and ad hoc reviews of risk management controls and procedures, the results
of which are reported to the Audit Committee.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;C.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Credit Risk&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;As at December 31, 2023, the Company
does not have any significant concentration of credit risk.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Cash and short-term deposits&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;As at December 31, 2023 and 2022, the
Company had cash and cash equivalents in the amount of &#x20ac;51,127 thousand and &#x20ac;46,458 thousand, respectively. The Company&#x2019;s
cash and cash equivalents are deposited with financial institutions that received a credit rating (international rating scale). See also
Note 4.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Restricted cash&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;As at December 31, 2023 and 2022, the
Company had a balance of current restricted cash in an amount of &#x20ac;810 thousand and &#x20ac;900 thousand, respectively, and a balance
of non-current restricted cash of &#x20ac;17,386 thousand and &#x20ac;20,192 thousand, respectively. See also Note 5.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Trade and other receivables&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;As at December 31, 2023 and 2022, the
Company had a balance of trade receivables of &#x20ac;205 thousand and &#x20ac;420 thousand, respectively. This balance mainly refers to the
sale of green certificates from the activity in the Netherland due within 30 days from issuance. In 2022, the balance mostly referred
to sale of electricity to the IEC for the PV Plant located in Israel and is due in 30 days. This balance is classified as assets of disposal
groups held for sale in 2023.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;As at December 31, 2023 and 2022, the
Company had a balance of revenue receivables of &#x20ac;1,013 thousand and &#x20ac;1,062 thousand, respectively. This balance refers to amounts
to be paid mainly from the facilities in the Netherlands. The revenue receivables are from gas sold in market price in the Netherlands
due within 60 days and the sale of green certificates within 60 days.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The Company&#x2019;s management closely
monitors the economic and political environment in which it operates. As per the Company&#x2019;s management estimations, there are no
significant credit risks assigned to the trade receivables and income receivables as these amounts are due by governmental agencies or
by established companies that pay on a weekly or monthly basis.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;As at December 31, 2023 and 2022, the
Company had a balance of government authorities&#x2019; receivables of &#x20ac;4,851 thousand and &#x20ac;3,752 thousand, respectively. This
balance refers to VAT receivables in Spain, Italy, Israel and the Netherlands.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;D.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Liquidity risk&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;Liquidity risk is the risk that the
Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering
cash or another financial asset. The Company&#x2019;s approach to managing liquidity is to ensure, as far as possible, that it will always
have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable
losses or risking damage to the Company&#x2019;s reputation.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;As of December 31, 2023, the Company
had a working capital of approximately &#x20ac;5,199 thousand.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The cash surpluses held by Company that
are not required for financing their current activity, are invested in interest-bearing investment channels such as short-term deposits.
These investment channels are chosen by the Company&#x2019; managements based on future forecasts of the cash the Company will require
in order to meet their liabilities. Cash flow forecasts are determined on both an individual company basis and a consolidated basis. The
Company examines current forecasts of its liquidity requirements so as to make certain that there is sufficient cash for its operating
needs, and it is careful at all times to have enough unused credit facilities so that the Company does not exceed its credit limits and
is in compliance with its financial covenants.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;These forecasts take into consideration
matters such as the Company&#x2019;s plan to use debt for financing its activity, compliance with required financial covenants, compliance
with certain liquidity ratios, and compliance with external requirements such as laws or regulation.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The Company has contractual commitments
due to debentures issued, financing agreements and EPC and O&amp;amp;M agreements of its subsidiaries in Spain, Italy, the Netherlands, USA
and Israel. See also Note 6, Note 11 and Note 12.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The following are the contractual maturities
of financial liabilities at undiscounted amounts and based on the spot rates at the reporting date, including estimated interest payments.
This disclosure excludes the impact of netting agreements:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="22" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31, 2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Carrying&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Contractual&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Less than&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;More than&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;amount&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;cash flows&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;1 year&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2-3 years&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;4-5 years&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;5 years&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="22" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;

&lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold"&gt;Non-derivative financial liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 28%; text-align: left"&gt;Long-term loans, including current maturities&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;281,938&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;375,334&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;21,883&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;41,743&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;59,691&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;252,017&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in"&gt;Debentures&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;140,087&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;158,051&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;41,100&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;72,088&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;30,738&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;14,125&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Lease liabilities&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;24,380&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;47,011&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,916&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;3,895&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;3,903&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;37,297&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Trade payables, other accounts payable and Other long-term liabilities&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;14,496&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;b&gt;14,496&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;b&gt;13,703&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;793&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-242"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-243"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;460,901&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;594,892&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;78,602&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;118,519&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;94,332&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;303,439&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;




&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="margin: 0"&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="22" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Carrying&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Contractual&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Less than&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;More than&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;amount&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;cash flows&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;1 year&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2-3 years&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;4-5 years&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;5 years&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="22" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold"&gt;Non-derivative financial liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 28%; text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;Long term loans, including current maturities&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;273,863&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;363,553&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;30,392&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;42,547&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;43,381&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;247,233&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;Debentures&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;110,428&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;141,140&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;22,878&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;62,710&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;55,552&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-244"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;Lease liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;22,750&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;35,911&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,630&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,233&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,194&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;27,854&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in"&gt;Trade payables, other accounts payable and Other long-term liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;15,144&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;15,144&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;13,518&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;813&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;813&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-245"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;422,185&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;555,748&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;68,418&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;109,303&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;102,940&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;275,087&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;Derivative finance liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"&gt;Financial power swap&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;61,537&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;61,537&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;33,183&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;26,424&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(2,666&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;4,596&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;E.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Market risk&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;Market risk is the risk that changes
in market prices will affect the Company&#x2019;s income or the value of its holdings of financial instruments. The objective of market
risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The principal risks that the Company
faces, as assessed by management, are as follows: a change in the regulation applicable to the area of activity, a change in the electricity
prices or the tariffs as approved by the relevant electricity authorities in the countries in which the Company operates, changes in the
situation of the electricity and gas market, political and security events.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The Company uses hedging instruments
in an attempt to manage interest rate, currency and other market-related risks. The majority of the Company&#x2019;s derivative contracts
are OTC derivatives, i.e., derivative contracts that are not transacted on an exchange. These derivatives are entered into under ISDA
Master Agreements. If counterparty defaults on these contracts, the underlying exposure would no longer be effectively hedged, which could
result in losses. Disruptions such as market crises and economic recessions may put a strain on the availability and effectiveness of
hedging instruments. For example, although the Company estimates the expected transition away from Euribor, as addressed by the Amendments
to IAS 39, Financial Instruments, Interest Rate Benchmark Reform &#x2013; Phase 2, not to have a material effect on the Company,&#x2019;s
financial statements, similar benchmark rates may have a different impact on the hedged item and the hedging instrument, which could cause
some of the Company hedge to become ineffective, resulting in potential losses.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;(1)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Foreign currency risk&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;As a result of the Company&#x2019;s operations
and presentation currency, the Company is exposed to the impact of exchange rate fluctuations of the Euro/USD and NIS/Euro on the Company&#x2019;s
balance sheet and profit and loss.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The Company holds cash and cash equivalents,
short-term deposits, and restricted cash in various currencies, including Euro, USD and NIS. The Company&#x2019;s holdings in its European
PV Plants and projects under development are denominated in Euro, its holdings in projects under development in the US are denominated
in USD and its holdings in its Israeli PV Plant, projects under development and indirect holdings in Dorad are denominated in NIS. The
Company believes that the composition of its assets and liabilities, which are denominated in USD, Euro and NIS, sufficiently mitigates
a substantial portion of its foreign currency risk.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;(a)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;The exposure to linkage and foreign currency risk&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"&gt;The Company&#x2019;s
exposure to linkage and foreign currency risk was as follow:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31, 2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Non-monetary/&lt;br/&gt; Non finance&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0cm 0cm 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;NIS (*)&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0cm 0cm 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;USD&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0cm 0cm 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;EURO&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0cm 0cm 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Current assets:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 40%; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-246"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;34,990&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;4,199&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;11,938&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;51,127&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Short term deposits&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-247"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;997&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-248"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-249"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;997&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Restricted cash&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-250"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-251"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-252"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;810&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;810&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Intangible asset from green certificates&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;553&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-253"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-254"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-255"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;553&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Trade and other receivables&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;2,584&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;2,660&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-256"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;6,748&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;11,992&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Assets of disposal groups classified as held for sale&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;28,297&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-257"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-258"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-259"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;28,297&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Non-current assets:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Investments in equity accounted investees&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;31,772&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-260"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-261"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-262"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;31,772&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Advances on account of investments&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;898&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-263"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-264"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-265"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;898&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Fixed assets&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;407,982&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-266"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-267"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-268"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;407,982&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Right-of-use asset&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;30,967&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-269"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-270"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-271"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;30,967&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Restricted cash and deposits&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-272"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;3,558&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-273"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;13,828&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;17,386&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Deferred tax&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;8,677&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-274"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-275"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-276"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;8,677&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Long term receivables&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;9,350&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,096&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-277"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-278"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;10,446&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Derivatives&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-279"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-280"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-281"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;10,948&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;10,948&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Current liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Current maturities of long-term bank loans&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-282"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-283"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-284"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(9,784&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(9,784&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Current maturities of long-term loans&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-285"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-286"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-287"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(5,000&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(5,000&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Current maturities of debentures&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-288"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(35,200&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-289"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-290"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(35,200&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Trade payables&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-291"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(832&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(154&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(4,263&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(5,249&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Other payables&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(553&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(9,445&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-292"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(861&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(10,859&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Current maturities of derivatives&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-293"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-294"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-295"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(4,643&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(4,643&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Current maturities of lease liabilities&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-296"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(105&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(10&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(585&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(700&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Liabilities of disposal groups classified as held for sale&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(17,142&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-297"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-298"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-299"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(17,142&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Non-current liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Long-term lease liabilities&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-300"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(3,176&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(2,150&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(18,354&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(23,680&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Long-term loans&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-301"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(69,685&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-302"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(168,096&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(237,781&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Other long-term bank loans&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-303"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(8,452&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-304"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(20,921&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(29,373&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Debentures&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-305"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(104,887&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-306"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-307"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(104,887&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Deferred tax&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(2,516&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-308"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-309"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-310"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(2,516&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Other long-term liabilities&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-311"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(939&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-312"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-313"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(939&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt"&gt;Total exposure in
    statement of financial position in respect of financial assets and financial liabilities&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;500,869&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(189,420&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,885&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(188,235&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;125,099&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Non-monetary/&lt;br/&gt;
 Non finance&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;NIS (*)&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;USD&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;EURO&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Current assets:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 40%; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-314"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;30,359&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;55&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;16,044&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;46,458&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Marketable securities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-315"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-316"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,836&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-317"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,836&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Restricted cash&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-318"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-319"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-320"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;900&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;900&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Receivable from concession project&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-321"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,799&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-322"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-323"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,799&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Trade and other receivables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,174&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,694&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;16&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,798&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;12,682&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Non-current assets:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Investments in equity accounted investees&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,976&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,053&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-324"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-325"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;30,029&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Advances on account of investments&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,328&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-326"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-327"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-328"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,328&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Receivable from concession project&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-329"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;24,795&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-330"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-331"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;24,795&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Fixed assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;365,756&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-332"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-333"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-334"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;365,756&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Right-of-use asset&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;30,020&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-335"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-336"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-337"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;30,020&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Intangible asset&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,094&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-338"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-339"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-340"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,094&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Restricted cash and deposits&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-341"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,607&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-342"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,585&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;20,192&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Deferred tax&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,510&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-343"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-344"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-345"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,510&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Long term receivables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,840&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,171&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-346"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;259&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,270&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Derivatives&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-347"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-348"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-349"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,488&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,488&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Current liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Current maturities of long-term bank loans&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-350"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(2,091&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-351"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(10,724&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(12,815&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Current maturities of long-term loans&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-352"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-353"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-354"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(10,000&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(10,000&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Current maturities of debentures&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-355"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(18,714&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-356"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-357"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(18,714&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Trade payables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-358"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(123&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-359"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(4,381&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(4,504&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Other payables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-360"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(6,107&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-361"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(5,100&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(11,207&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Current maturities of derivatives&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-362"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-363"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-364"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(33,183&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(33,183&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Current maturities of lease liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-365"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(193&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-366"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(552&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(745&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Non-current liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Long-term lease liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-367"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(4,740&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-368"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(17,265&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(22,005&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Long-term loans&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-369"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(13,495&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-370"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(215,971&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(229,466&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Other long-term bank loans&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-371"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(7,538&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-372"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(14,044&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(21,582&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Debentures&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-373"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(91,714&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-374"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-375"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(91,714&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Deferred tax&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(6,770&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-376"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-377"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-378"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(6,770&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Derivatives&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-379"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-380"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-381"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(28,354&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(28,354&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Other long-term liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-382"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-383"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-384"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt"&gt;Total exposure in statement&#160;of financial position in&#160;respect of financial assets&#160;and financial liabilities&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;452,928&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(72,258&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;2,907&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(300,500&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;83,077&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; text-align: left"&gt;(*)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Including items linked to the Israeli CPI&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;Information regarding significant exchange
rates:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the year ended December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Rate of&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Rate of&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Change&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-size: 1pt; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 1pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 1pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Change&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-size: 1pt; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 1pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 1pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;%&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Dollar&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;%&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;NIS&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%; text-align: left"&gt;1 Euro in 2023&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;3.7&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;1.106&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;6.9&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;4.012&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;1 Euro in 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(5.8&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1.066&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6.6&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3.753&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;(b)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Sensitivity analysis&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;A change as at December 31 in the exchange
rates of the following euro against the USD and euro against the NIS, as indicated below would have increased (decreased) equity by the
amounts shown below (after tax). This analysis is based on foreign currency exchange rate that the Company considered to be reasonably
possible at the end of the reporting period. The analysis assumes that all other variables, in particular interest rates, remain constant.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31, 2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Increase&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Decrease&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Equity&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Equity&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;Change in the exchange rate of:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify"&gt;5% in the USD&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;(90&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;99&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;5% in NIS&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(9,471&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;9,471&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Increase&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Increase&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Equity&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Equity&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;Change in the exchange rate of:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left"&gt;5% in the USD&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;155&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(155&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;5% in NIS&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(963&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;963&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;(2)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Interest rate risk&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The Company is exposed to changes in
fair value, as a result of changes in interest rate in connection with its loans and borrowings. The debt instruments of the Company bear
interest at variable rates.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The Company entered into various project
finance agreements that are based on EURIBOR rate and on the Bank of Israel interest rate and therefore it may be affected by adverse
movements in interest rates. &lt;span style="font-family: Times New Roman, Times, Serif"&gt;The Company utilizes interest rate swap derivatives
to convert certain floating-rate debt to fixed-rate debt. The Company&#x2019;s interest rate swap derivatives involve an agreement to pay
a fixed-rate interest and receive a floating-rate interest, at specified intervals, calculated on an agreed notional amount that matches
the amount of the original loan and paid on the same installments and maturity dates. &lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;b&gt;Sensitivity analysis&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;A change in interest rate would have
increased (decreased) the profit in the financial statements by the amounts shown below:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Profit or loss&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Profit or loss&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;

&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%"&gt;Increase of 1%&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;736&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;161&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;Increase of 3%&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;2,204&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;520&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;Decrease of 1%&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(734&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(196&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;Decrease of 3%&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(2,201&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(556&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;(3)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Electricity market prices risk&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;As a result of the Company&#x2019;s operations
in the electricity market, the Company is exposed to the impact of changes in electricity prices.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;In order to manage its exposure to changes
in the electricity prices, in June 2018, Talasol executed the Talasol PPA. The power produced by the Talasol PV Plant is expected to be
sold by Talasol in the open market for the then current market power price and the Talasol PPA is expected to hedge the risks associated
with fluctuating electricity market prices by allowing Talasol to secure approximately 80% of its income for the power production included
under the Talasol PPA. The hedge transaction becomes effective on Talasol requesting that the counter party fix the fixed price pursuant
to the price adjustment mechanism. The Talasol PPA became effective in March 2019 and its accounting treatment is according to cash flow
hedge.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The fair value of the Talasol PPA is
measured by discounting the future fixed and assessed cash flows, over the period of the contract and using market interest rates appropriate
for similar instruments. The value is adjusted for the parties&#x2019; credit risks. The valuation technique for assessing electricity
future prices projections takes into consideration unobservable market data and complex pricing models.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;In 2021, Talasol deposited &#x20ac;10
million in Talasol&#x2019;s bank account as security for a letter of credit to the PPA provider. This security fund is reduced by 10% every
year, up to a minimum amount of &#x20ac;3.5 million, which will be released at the expiration of the PPA.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;F.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Fair value&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;(1)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Fair values versus carrying amounts&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The carrying amounts of certain financial
assets and liabilities, including cash and cash equivalents, other accounts receivables, pledged deposits, financial derivatives credit
from banks and trade payables and other accounts payables are the same or proximate to their fair value.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The fair values of the other financial
liabilities, together with the carrying amounts shown in the statement of financial position, are as follows:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="19" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2023&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Fair value&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;b&gt;Valuation&#160;techniques&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;b&gt;Inputs used to&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Carrying&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;for determining&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;determine&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;amount&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Level 1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Level 2&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Level 3&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;fair value&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt; fair value&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"&gt;Non-current liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 27.5%; text-align: left"&gt;Debentures&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;140,087&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;134,464&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-385"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-386"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 18.5%; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 18.5%; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; vertical-align: top; text-align: left; padding-bottom: 1.5pt"&gt;Loans from banks and others (including current maturities)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;b&gt;281,938&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-387"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;b&gt;231,057&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-388"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: justify; padding-bottom: 1.5pt"&gt;Discounting future cash flows by the market interest rate on the date of measurement.&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: justify; padding-bottom: 1.5pt"&gt;See Note 21F(2)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;422,025&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;134,464&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;231,057&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-389"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="19" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2022&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Fair value&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;b&gt;Valuation techniques&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;b&gt;Inputs used to&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Carrying&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt; for determining &lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;determine&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;amount&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 1&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 2&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 3&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;fair value&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt; fair value&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"&gt;Non-current liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 27.5%; text-align: left"&gt;Debentures&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;110,428&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;102,957&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-390"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-391"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 18.5%; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 18.5%; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; vertical-align: top; text-align: left; padding-bottom: 1.5pt"&gt;Loans from banks and others (including current maturities)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;273,863&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-392"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;217,073&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-393"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: justify; padding-bottom: 1.5pt"&gt;Discounting future cash flows by the market interest rate on the date of measurement.&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: justify; padding-bottom: 1.5pt"&gt;See Note 21F(2)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;384,291&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;102,957&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;217,073&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-394"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;(2)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Interest rates used for determining fair value&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The interest rates used to discount
estimated cash flows, when applicable, are based on the government yield curve at the reporting date plus an adequate credit spread, and
were as follows:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31,&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; vertical-align: top; font-weight: bold; text-align: center"&gt;2023&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; vertical-align: top; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;%&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: left"&gt;Non-current liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="vertical-align: top; width: 22%; text-align: left"&gt;Loans from banks&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; width: 38%; font-weight: bold; text-align: left"&gt;Discount rate of Euribor+ 2% with a zero floor&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; width: 38%; text-align: left"&gt;Discount rate of Euribor+ 2% with a zero floor&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Loans from banks&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: left"&gt;fixed rate for several years 3.1%-6% Linkage to Euribor&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;fixed rate for 5 years 2.65%-4.5% Linkage to Euribor&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Loans from banks&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: left"&gt;2.58%-4.78% Linkage to Consumer price index in Israel&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;2.58% Linkage to Israeli CPI&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Loans from banks&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: left"&gt;Floating interest rate based on the Bank of Israel Rate plus a spread of 4.35%.&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Floating interest rate based on the Bank of Israel Rate plus a spread of 4.35%.&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Loans from banks&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: left"&gt;fixed rate of 2.58%-3.03%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;fixed rate 2.58%-3.03%&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Loans from others&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: left"&gt;Euribor+ 5.27%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Euribor+ 5.27%&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Loans from others&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: left"&gt;7% Linkage to Consumer price index in Israel and fixed rate of 5.5%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;7% Linkage to Israeli CPI and fixed rate of 5.5%&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;b&gt;(3)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Fair values hierarchy&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The financial instruments presented
at fair value are grouped into classes with similar characteristics using the following fair value hierarchy which is determined based
on the source of data used in the measurement:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.5in"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5in; padding-left: 7.1pt; text-align: right"&gt;Level 1&lt;/td&gt;
    &lt;td style="width: 0.1in; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"&gt;-&lt;/td&gt;
    &lt;td style="padding-right: 1.4pt; padding-left: 1.4pt; text-align: justify"&gt;Quoted prices (unadjusted) in active markets for identical assets or liabilities.&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-left: 7.1pt; text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-right: 1.4pt; padding-left: 1.4pt; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-left: 7.1pt; text-align: right"&gt;Level 2&lt;/td&gt;
    &lt;td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"&gt;-&lt;/td&gt;
    &lt;td style="padding-right: 1.4pt; padding-left: 1.4pt; text-align: justify"&gt;Inputs other than quoted prices included within Level 1 that are observable either directly or indirectly.&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-left: 7.1pt; text-align: right"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-right: 1.4pt; padding-left: 1.4pt; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-left: 7.1pt; text-align: right"&gt;Level 3&lt;/td&gt;
    &lt;td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"&gt;-&lt;/td&gt;
    &lt;td style="padding-right: 1.4pt; padding-left: 1.4pt; text-align: justify"&gt;Inputs that are not based on observable market data (unobservable inputs).&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="17" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2023&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 2&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 3&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: center"&gt;Valuation techniques for&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; vertical-align: top; font-weight: bold; text-align: center"&gt;determining fair value&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="vertical-align: top; width: 21%; text-align: left; padding-bottom: 4pt"&gt;Swap contracts&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-395"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;882&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-396"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;882&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; width: 30%; text-align: justify; padding-bottom: 4pt"&gt;Fair value is measured by discounting the future cash flows, over the period of the contract and using market interest rates appropriate for similar instruments, including the adjustment required for the parties&#x2019; credit risks.&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left; padding-bottom: 4pt"&gt;Financial power swap&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-397"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-398"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;5,698&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;5,698&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: justify; padding-bottom: 4pt"&gt;Fair value is measured by discounting the future fixed and assessed cash flows, over the period of the contract and using market interest rates appropriate for similar instruments. The value is adjusted for the parties&#x2019; credit risks.&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="17" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2022&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 2&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 3&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Valuation techniques for&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;determining fair value&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 21%; text-align: left; padding-bottom: 4pt"&gt;Marketable securities&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;2,836&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-399"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-400"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;2,836&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 30%; text-align: justify; padding-bottom: 4pt"&gt;Market price.&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left; padding-bottom: 4pt"&gt;Swap contracts&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-401"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,761&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-402"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,761&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Fair value is measured by discounting the future cash flows, over the period of the contract and using market interest rates appropriate for similar instruments, including the adjustment required for the parties&#x2019; credit risks.&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="vertical-align: top; text-align: left; padding-bottom: 4pt"&gt;Financial power swap&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-403"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-404"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(61,537&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(61,537&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Fair value is measured by discounting the future fixed and assessed cash flows, over the period of the contract and using market interest rates appropriate for similar instruments. The value is adjusted for the parties&#x2019; credit risks.&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;(4)&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Level 3 financial instruments carried at fair value&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;The table hereunder presents reconciliation
from the beginning balance to the ending balance of financial instruments carried at fair value in level 3 of the fair value hierarchy:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Financial
assets&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Dori Energy loan&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;

  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 87%"&gt;Balance as at January 1, 2022&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left; width: 1%"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right; width: 9%"&gt;(20,894&lt;/td&gt;&lt;td style="text-align: left; width: 2%"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Total income recognized in profit or loss&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;49,679&lt;/td&gt;&lt;td style="text-align: left"&gt;*&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Total income recognized in other comprehensive income&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(90,322&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)*&lt;/td&gt;&lt;/tr&gt;

&lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Balance as at December 31, 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(61,537&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Total income recognized in profit or loss&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;13,777&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Total income recognized in other comprehensive income&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;53,548&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Balance as at December 31, 2023&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;5,698&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; text-align: left"&gt;*&lt;/td&gt;&lt;td style="text-align: justify"&gt;Reclassified&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfFinancialInstrumentsExplanatory>
    <ello:ScheduleOfTransactionsInDerivativeFinancialInstrumentsTableTextBlock contextRef="c0" id="ixv-39062">&lt;span style="font-family: Times New Roman, Times, Serif"&gt;In
order to manage these risks a&lt;/span&gt;nd as described hereunder, the Company executes transactions in derivative financial instruments.
Presented hereunder is the composition of the derivatives:&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;For the year ended December&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Derivatives presented under current assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; padding-bottom: 1.5pt"&gt;Swap contracts&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;275&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;273&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;275&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;273&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Derivatives presented under non-current assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Swap contracts&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;607&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,488&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Financial power swap&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;10,341&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-239"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;10,948&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,488&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Derivatives presented under current liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Financial power swap&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(4,643&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(33,183&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(4,643&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(33,183&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Derivatives presented under non-current liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Financial power swap&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-240"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(28,354&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-241"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(28,354&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;&#160;&lt;/p&gt;</ello:ScheduleOfTransactionsInDerivativeFinancialInstrumentsTableTextBlock>
    <ifrs-full:CurrentDerivativeFinancialAssets
      contextRef="c607"
      decimals="-3"
      id="ixv-66324"
      unitRef="eur">275000</ifrs-full:CurrentDerivativeFinancialAssets>
    <ifrs-full:CurrentDerivativeFinancialAssets
      contextRef="c608"
      decimals="-3"
      id="ixv-66325"
      unitRef="eur">273000</ifrs-full:CurrentDerivativeFinancialAssets>
    <ifrs-full:CurrentDerivativeFinancialAssets contextRef="c2" decimals="-3" id="ixv-66326" unitRef="eur">275000</ifrs-full:CurrentDerivativeFinancialAssets>
    <ifrs-full:CurrentDerivativeFinancialAssets contextRef="c3" decimals="-3" id="ixv-66327" unitRef="eur">273000</ifrs-full:CurrentDerivativeFinancialAssets>
    <ifrs-full:NoncurrentDerivativeFinancialAssets
      contextRef="c607"
      decimals="-3"
      id="ixv-66328"
      unitRef="eur">607000</ifrs-full:NoncurrentDerivativeFinancialAssets>
    <ifrs-full:NoncurrentDerivativeFinancialAssets
      contextRef="c608"
      decimals="-3"
      id="ixv-66329"
      unitRef="eur">1488000</ifrs-full:NoncurrentDerivativeFinancialAssets>
    <ifrs-full:NoncurrentDerivativeFinancialAssets
      contextRef="c609"
      decimals="-3"
      id="ixv-66330"
      unitRef="eur">10341000</ifrs-full:NoncurrentDerivativeFinancialAssets>
    <ifrs-full:NoncurrentDerivativeFinancialAssets contextRef="c2" decimals="-3" id="ixv-66331" unitRef="eur">10948000</ifrs-full:NoncurrentDerivativeFinancialAssets>
    <ifrs-full:NoncurrentDerivativeFinancialAssets contextRef="c3" decimals="-3" id="ixv-66332" unitRef="eur">1488000</ifrs-full:NoncurrentDerivativeFinancialAssets>
    <ifrs-full:CurrentDerivativeFinancialLiabilities
      contextRef="c609"
      decimals="-3"
      id="ixv-66333"
      unitRef="eur">4643000</ifrs-full:CurrentDerivativeFinancialLiabilities>
    <ifrs-full:CurrentDerivativeFinancialLiabilities
      contextRef="c610"
      decimals="-3"
      id="ixv-66334"
      unitRef="eur">33183000</ifrs-full:CurrentDerivativeFinancialLiabilities>
    <ifrs-full:CurrentDerivativeFinancialLiabilities contextRef="c2" decimals="-3" id="ixv-66335" unitRef="eur">4643000</ifrs-full:CurrentDerivativeFinancialLiabilities>
    <ifrs-full:CurrentDerivativeFinancialLiabilities contextRef="c3" decimals="-3" id="ixv-66336" unitRef="eur">33183000</ifrs-full:CurrentDerivativeFinancialLiabilities>
    <ifrs-full:NoncurrentDerivativeFinancialLiabilities
      contextRef="c610"
      decimals="-3"
      id="ixv-66337"
      unitRef="eur">28354000</ifrs-full:NoncurrentDerivativeFinancialLiabilities>
    <ifrs-full:NoncurrentDerivativeFinancialLiabilities contextRef="c3" decimals="-3" id="ixv-66338" unitRef="eur">28354000</ifrs-full:NoncurrentDerivativeFinancialLiabilities>
    <ello:DisclosureOfDetailedInformationAboutForwardAndSwapContractsExplanatory contextRef="c0" id="ixv-66339">The following table sets forth the details
of the Company&#x2019;s financial power swap and swap contracts with banking institutions:&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="8" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2023&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Currency/&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Currency/&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;linkage/interest&lt;br/&gt;
 rate&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;linkage/interest&lt;br/&gt;
 rate&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Date of &lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Fair value&lt;br/&gt;
 - &#x20ac; in&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;receivable&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Payable&lt;/td&gt;&lt;td style="font-size: 1pt; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; border-bottom: Black 1.5pt solid; font-size: 10pt"&gt;&lt;b&gt;expiration&lt;/b&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;thousand&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 48%; text-align: left"&gt;Euro 17.6 million interest swap transaction for a period of 18 years, semi-annually.&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; width: 12%; text-align: center"&gt;Euribor 6 months&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; width: 11%; text-align: center"&gt;Fixed 1%&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 14%; text-align: center"&gt;December 20,&#160;2037&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;882&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Financial power swap- electricity price swap fixed for float&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: center"&gt;Electricity price in Spain&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: center"&gt;Fixed price&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;September 30,&#160;2030&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;5,698&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:DisclosureOfDetailedInformationAboutForwardAndSwapContractsExplanatory>
    <ello:interestswapTransaction
      contextRef="c612"
      decimals="-5"
      id="ixv-66340"
      unitRef="eur">17600000</ello:interestswapTransaction>
    <ello:InterestSwapTransactionPeriod contextRef="c611" id="ixv-66341">18 years</ello:InterestSwapTransactionPeriod>
    <ello:DescriptionOfCurrencyLinkageReceivable contextRef="c611" id="ixv-66342">Euribor 6 months</ello:DescriptionOfCurrencyLinkageReceivable>
    <ello:DescriptionOfCurrencyLinkagePayable contextRef="c611" id="ixv-66343">Fixed 1%</ello:DescriptionOfCurrencyLinkagePayable>
    <ifrs-full:DescriptionOfLineItemInStatementOfFinancialPositionThatIncludesHedgingInstrument contextRef="c611" id="ixv-66344">December 20,&#160;2037</ifrs-full:DescriptionOfLineItemInStatementOfFinancialPositionThatIncludesHedgingInstrument>
    <ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue
      contextRef="c612"
      decimals="-3"
      id="ixv-66345"
      unitRef="eur">882000</ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue>
    <ello:DescriptionOfCurrencyLinkageReceivable contextRef="c613" id="ixv-66346">Electricity price in Spain</ello:DescriptionOfCurrencyLinkageReceivable>
    <ello:DescriptionOfCurrencyLinkagePayable contextRef="c613" id="ixv-66347">Fixed price</ello:DescriptionOfCurrencyLinkagePayable>
    <ifrs-full:DescriptionOfLineItemInStatementOfFinancialPositionThatIncludesHedgingInstrument contextRef="c613" id="ixv-66348">September 30,&#160;2030</ifrs-full:DescriptionOfLineItemInStatementOfFinancialPositionThatIncludesHedgingInstrument>
    <ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue
      contextRef="c609"
      decimals="-3"
      id="ixv-66349"
      unitRef="eur">5698000</ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue>
    <ifrs-full:CashAndCashEquivalents contextRef="c2" decimals="-3" id="ixv-66350" unitRef="eur">51127000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:CashAndCashEquivalents contextRef="c3" decimals="-3" id="ixv-66351" unitRef="eur">46458000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:CurrentRestrictedCashAndCashEquivalents contextRef="c2" decimals="-3" id="ixv-66352" unitRef="eur">810000</ifrs-full:CurrentRestrictedCashAndCashEquivalents>
    <ifrs-full:CurrentRestrictedCashAndCashEquivalents contextRef="c3" decimals="-3" id="ixv-66353" unitRef="eur">900000</ifrs-full:CurrentRestrictedCashAndCashEquivalents>
    <ifrs-full:NoncurrentRestrictedCashAndCashEquivalents contextRef="c2" decimals="-3" id="ixv-66354" unitRef="eur">17386000</ifrs-full:NoncurrentRestrictedCashAndCashEquivalents>
    <ifrs-full:NoncurrentRestrictedCashAndCashEquivalents contextRef="c3" decimals="-3" id="ixv-66355" unitRef="eur">20192000</ifrs-full:NoncurrentRestrictedCashAndCashEquivalents>
    <ifrs-full:CurrentTradeReceivables contextRef="c2" decimals="-3" id="ixv-66356" unitRef="eur">205000</ifrs-full:CurrentTradeReceivables>
    <ifrs-full:CurrentTradeReceivables contextRef="c3" decimals="-3" id="ixv-66357" unitRef="eur">420000</ifrs-full:CurrentTradeReceivables>
    <ello:CurrentIncomeReceivable contextRef="c2" decimals="-3" id="ixv-66358" unitRef="eur">1013000</ello:CurrentIncomeReceivable>
    <ello:CurrentIncomeReceivable contextRef="c3" decimals="-3" id="ixv-66359" unitRef="eur">1062000</ello:CurrentIncomeReceivable>
    <ello:GovernmentAuthorities contextRef="c2" decimals="-3" id="ixv-66360" unitRef="eur">4851000</ello:GovernmentAuthorities>
    <ello:GovernmentAuthorities contextRef="c3" decimals="-3" id="ixv-66361" unitRef="eur">3752000</ello:GovernmentAuthorities>
    <ifrs-full:IncreaseDecreaseInWorkingCapital contextRef="c4" decimals="-3" id="ixv-66362" unitRef="eur">5199000</ifrs-full:IncreaseDecreaseInWorkingCapital>
    <ifrs-full:MaturityAnalysisForDerivativeFinancialLiabilities contextRef="c0" id="ixv-66363">The following are the contractual maturities
of financial liabilities at undiscounted amounts and based on the spot rates at the reporting date, including estimated interest payments.
This disclosure excludes the impact of netting agreements:&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="22" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31, 2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Carrying&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Contractual&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Less than&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;More than&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;amount&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;cash flows&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;1 year&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2-3 years&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;4-5 years&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;5 years&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="22" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;

&lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold"&gt;Non-derivative financial liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 28%; text-align: left"&gt;Long-term loans, including current maturities&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;281,938&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;375,334&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;21,883&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;41,743&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;59,691&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;252,017&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in"&gt;Debentures&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;140,087&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;158,051&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;41,100&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;72,088&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;30,738&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;14,125&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Lease liabilities&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;24,380&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;47,011&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,916&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;3,895&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;3,903&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;37,297&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Trade payables, other accounts payable and Other long-term liabilities&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;14,496&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;b&gt;14,496&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;b&gt;13,703&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;793&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-242"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-243"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;460,901&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;594,892&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;78,602&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;118,519&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;94,332&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;303,439&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="22" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Carrying&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Contractual&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Less than&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;More than&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;amount&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;cash flows&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;1 year&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2-3 years&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;4-5 years&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;5 years&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="22" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold"&gt;Non-derivative financial liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 28%; text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;Long term loans, including current maturities&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;273,863&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;363,553&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;30,392&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;42,547&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;43,381&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;247,233&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;Debentures&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;110,428&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;141,140&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;22,878&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;62,710&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;55,552&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-244"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;Lease liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;22,750&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;35,911&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,630&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,233&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,194&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;27,854&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in"&gt;Trade payables, other accounts payable and Other long-term liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;15,144&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;15,144&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;13,518&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;813&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;813&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-245"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;422,185&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;555,748&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;68,418&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;109,303&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;102,940&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;275,087&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.125in"&gt;Derivative finance liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"&gt;Financial power swap&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;61,537&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;61,537&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;33,183&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;26,424&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(2,666&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;4,596&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;</ifrs-full:MaturityAnalysisForDerivativeFinancialLiabilities>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
      contextRef="c614"
      decimals="-3"
      id="ixv-66364"
      unitRef="eur">281938000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
      contextRef="c615"
      decimals="-3"
      id="ixv-66365"
      unitRef="eur">375334000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
      contextRef="c530"
      decimals="-3"
      id="ixv-66366"
      unitRef="eur">21883000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
      contextRef="c472"
      decimals="-3"
      id="ixv-66367"
      unitRef="eur">41743000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
      contextRef="c616"
      decimals="-3"
      id="ixv-66368"
      unitRef="eur">59691000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
      contextRef="c617"
      decimals="-3"
      id="ixv-66369"
      unitRef="eur">252017000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="c614"
      decimals="-3"
      id="ixv-66370"
      unitRef="eur">140087000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="c615"
      decimals="-3"
      id="ixv-66371"
      unitRef="eur">158051000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="c530"
      decimals="-3"
      id="ixv-66372"
      unitRef="eur">41100000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="c472"
      decimals="-3"
      id="ixv-66373"
      unitRef="eur">72088000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="c616"
      decimals="-3"
      id="ixv-66374"
      unitRef="eur">30738000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="c617"
      decimals="-3"
      id="ixv-66375"
      unitRef="eur">14125000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:GrossLeaseLiabilities
      contextRef="c614"
      decimals="-3"
      id="ixv-66376"
      unitRef="eur">24380000</ifrs-full:GrossLeaseLiabilities>
    <ifrs-full:GrossLeaseLiabilities
      contextRef="c615"
      decimals="-3"
      id="ixv-66377"
      unitRef="eur">47011000</ifrs-full:GrossLeaseLiabilities>
    <ifrs-full:GrossLeaseLiabilities
      contextRef="c530"
      decimals="-3"
      id="ixv-66378"
      unitRef="eur">1916000</ifrs-full:GrossLeaseLiabilities>
    <ifrs-full:GrossLeaseLiabilities
      contextRef="c472"
      decimals="-3"
      id="ixv-66379"
      unitRef="eur">3895000</ifrs-full:GrossLeaseLiabilities>
    <ifrs-full:GrossLeaseLiabilities
      contextRef="c616"
      decimals="-3"
      id="ixv-66380"
      unitRef="eur">3903000</ifrs-full:GrossLeaseLiabilities>
    <ifrs-full:GrossLeaseLiabilities
      contextRef="c617"
      decimals="-3"
      id="ixv-66381"
      unitRef="eur">37297000</ifrs-full:GrossLeaseLiabilities>
    <ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows
      contextRef="c614"
      decimals="-3"
      id="ixv-66382"
      unitRef="eur">14496000</ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows>
    <ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows
      contextRef="c615"
      decimals="-3"
      id="ixv-66383"
      unitRef="eur">14496000</ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows>
    <ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows
      contextRef="c530"
      decimals="-3"
      id="ixv-66384"
      unitRef="eur">13703000</ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows>
    <ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows
      contextRef="c472"
      decimals="-3"
      id="ixv-66385"
      unitRef="eur">793000</ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows>
    <ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows
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      decimals="-3"
      id="ixv-66386"
      unitRef="eur">460901000</ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows>
    <ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows
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      decimals="-3"
      id="ixv-66387"
      unitRef="eur">594892000</ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows>
    <ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows
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      id="ixv-66388"
      unitRef="eur">78602000</ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows>
    <ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows
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      id="ixv-66389"
      unitRef="eur">118519000</ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows>
    <ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows
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      decimals="-3"
      id="ixv-66390"
      unitRef="eur">94332000</ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows>
    <ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows
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      decimals="-3"
      id="ixv-66391"
      unitRef="eur">303439000</ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
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      id="ixv-66392"
      unitRef="eur">273863000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
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      id="ixv-66393"
      unitRef="eur">363553000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
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      id="ixv-66394"
      unitRef="eur">30392000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
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      id="ixv-66395"
      unitRef="eur">42547000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
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      id="ixv-66396"
      unitRef="eur">43381000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
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      id="ixv-66397"
      unitRef="eur">247233000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
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      id="ixv-66398"
      unitRef="eur">110428000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
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      id="ixv-66399"
      unitRef="eur">141140000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
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      decimals="-3"
      id="ixv-66400"
      unitRef="eur">22878000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
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      id="ixv-66401"
      unitRef="eur">62710000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
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      id="ixv-66402"
      unitRef="eur">55552000</ifrs-full:BondsIssuedUndiscountedCashFlows>
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      id="ixv-66403"
      unitRef="eur">22750000</ifrs-full:GrossLeaseLiabilities>
    <ifrs-full:GrossLeaseLiabilities
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      id="ixv-66404"
      unitRef="eur">35911000</ifrs-full:GrossLeaseLiabilities>
    <ifrs-full:GrossLeaseLiabilities
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      id="ixv-66405"
      unitRef="eur">1630000</ifrs-full:GrossLeaseLiabilities>
    <ifrs-full:GrossLeaseLiabilities
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      id="ixv-66406"
      unitRef="eur">3233000</ifrs-full:GrossLeaseLiabilities>
    <ifrs-full:GrossLeaseLiabilities
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      id="ixv-66407"
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    <ifrs-full:GrossLeaseLiabilities
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      id="ixv-66408"
      unitRef="eur">27854000</ifrs-full:GrossLeaseLiabilities>
    <ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows
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      unitRef="eur">15144000</ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows>
    <ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows
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      id="ixv-66410"
      unitRef="eur">15144000</ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows>
    <ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows
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      unitRef="eur">13518000</ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows>
    <ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows
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      unitRef="eur">813000</ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows>
    <ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows
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      decimals="-3"
      id="ixv-66413"
      unitRef="eur">813000</ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows>
    <ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows
      contextRef="c618"
      decimals="-3"
      id="ixv-66414"
      unitRef="eur">422185000</ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows>
    <ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows
      contextRef="c619"
      decimals="-3"
      id="ixv-66415"
      unitRef="eur">555748000</ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows>
    <ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows
      contextRef="c620"
      decimals="-3"
      id="ixv-66416"
      unitRef="eur">68418000</ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows>
    <ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows
      contextRef="c473"
      decimals="-3"
      id="ixv-66417"
      unitRef="eur">109303000</ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows>
    <ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows
      contextRef="c621"
      decimals="-3"
      id="ixv-66418"
      unitRef="eur">102940000</ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows>
    <ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows
      contextRef="c622"
      decimals="-3"
      id="ixv-66419"
      unitRef="eur">275087000</ifrs-full:NonderivativeFinancialLiabilitiesUndiscountedCashFlows>
    <ello:FinancialPowerSwap
      contextRef="c618"
      decimals="-3"
      id="ixv-66420"
      unitRef="eur">61537000</ello:FinancialPowerSwap>
    <ello:FinancialPowerSwap
      contextRef="c619"
      decimals="-3"
      id="ixv-66421"
      unitRef="eur">61537000</ello:FinancialPowerSwap>
    <ello:FinancialPowerSwap
      contextRef="c620"
      decimals="-3"
      id="ixv-66422"
      unitRef="eur">33183000</ello:FinancialPowerSwap>
    <ello:FinancialPowerSwap
      contextRef="c473"
      decimals="-3"
      id="ixv-66423"
      unitRef="eur">26424000</ello:FinancialPowerSwap>
    <ello:FinancialPowerSwap
      contextRef="c621"
      decimals="-3"
      id="ixv-66424"
      unitRef="eur">-2666000</ello:FinancialPowerSwap>
    <ello:FinancialPowerSwap
      contextRef="c622"
      decimals="-3"
      id="ixv-66425"
      unitRef="eur">4596000</ello:FinancialPowerSwap>
    <ello:ScheduleOfCompanysExposureToLinkageAndForeignCurrencyRiskTableTextBlock contextRef="c0" id="ixv-66426">The Company&#x2019;s
exposure to linkage and foreign currency risk was as follow:&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31, 2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Non-monetary/&lt;br/&gt; Non finance&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0cm 0cm 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;NIS (*)&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0cm 0cm 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;USD&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0cm 0cm 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;EURO&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0cm 0cm 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Current assets:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 40%; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-246"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;34,990&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;4,199&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;11,938&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;51,127&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Short term deposits&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-247"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;997&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-248"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-249"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;997&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Restricted cash&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-250"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-251"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-252"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;810&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;810&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Intangible asset from green certificates&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;553&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-253"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-254"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-255"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;553&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Trade and other receivables&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;2,584&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;2,660&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-256"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;6,748&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;11,992&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Assets of disposal groups classified as held for sale&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;28,297&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-257"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-258"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-259"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;28,297&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Non-current assets:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Investments in equity accounted investees&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;31,772&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-260"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-261"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-262"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;31,772&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Advances on account of investments&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;898&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-263"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-264"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-265"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;898&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Fixed assets&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;407,982&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-266"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-267"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-268"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;407,982&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Right-of-use asset&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;30,967&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-269"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-270"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-271"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;30,967&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Restricted cash and deposits&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-272"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;3,558&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-273"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;13,828&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;17,386&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Deferred tax&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;8,677&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-274"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-275"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-276"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;8,677&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Long term receivables&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;9,350&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,096&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-277"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-278"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;10,446&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Derivatives&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-279"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-280"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-281"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;10,948&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;10,948&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Current liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Current maturities of long-term bank loans&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-282"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-283"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-284"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(9,784&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(9,784&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Current maturities of long-term loans&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-285"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-286"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-287"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(5,000&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(5,000&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Current maturities of debentures&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-288"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(35,200&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-289"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-290"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(35,200&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Trade payables&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-291"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(832&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(154&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(4,263&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(5,249&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Other payables&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(553&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(9,445&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-292"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(861&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(10,859&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Current maturities of derivatives&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-293"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-294"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-295"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(4,643&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(4,643&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Current maturities of lease liabilities&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-296"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(105&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(10&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(585&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(700&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Liabilities of disposal groups classified as held for sale&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(17,142&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-297"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-298"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-299"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(17,142&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;Non-current liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Long-term lease liabilities&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-300"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(3,176&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(2,150&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(18,354&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(23,680&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Long-term loans&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-301"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(69,685&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-302"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(168,096&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(237,781&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Other long-term bank loans&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-303"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(8,452&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-304"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(20,921&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(29,373&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Debentures&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-305"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(104,887&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-306"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-307"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(104,887&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Deferred tax&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(2,516&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-308"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-309"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-310"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(2,516&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Other long-term liabilities&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-311"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(939&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-312"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-313"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(939&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt"&gt;Total exposure in
    statement of financial position in respect of financial assets and financial liabilities&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;500,869&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(189,420&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,885&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(188,235&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;125,099&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Non-monetary/&lt;br/&gt;
 Non finance&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;NIS (*)&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;USD&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;EURO&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;div style="padding: 0in 0in 1pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/p&gt; &lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Current assets:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 40%; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-314"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;30,359&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;55&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;16,044&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;46,458&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Marketable securities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-315"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-316"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,836&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-317"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,836&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Restricted cash&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-318"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-319"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-320"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;900&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;900&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Receivable from concession project&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-321"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,799&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-322"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-323"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,799&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Trade and other receivables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,174&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,694&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;16&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,798&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;12,682&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Non-current assets:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Investments in equity accounted investees&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,976&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,053&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-324"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-325"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;30,029&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Advances on account of investments&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,328&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-326"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-327"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-328"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,328&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Receivable from concession project&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-329"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;24,795&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-330"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-331"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;24,795&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Fixed assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;365,756&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-332"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-333"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-334"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;365,756&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Right-of-use asset&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;30,020&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-335"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-336"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-337"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;30,020&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Intangible asset&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,094&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-338"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-339"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-340"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,094&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Restricted cash and deposits&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-341"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,607&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-342"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,585&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;20,192&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Deferred tax&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,510&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-343"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-344"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-345"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,510&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Long term receivables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,840&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,171&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-346"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;259&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,270&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Derivatives&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-347"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-348"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-349"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,488&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,488&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Current liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Current maturities of long-term bank loans&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-350"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(2,091&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-351"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(10,724&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(12,815&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Current maturities of long-term loans&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-352"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-353"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-354"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(10,000&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(10,000&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Current maturities of debentures&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-355"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(18,714&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-356"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-357"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(18,714&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Trade payables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-358"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(123&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-359"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(4,381&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(4,504&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Other payables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-360"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(6,107&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-361"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(5,100&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(11,207&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Current maturities of derivatives&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-362"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-363"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-364"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(33,183&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(33,183&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Current maturities of lease liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-365"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(193&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-366"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(552&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(745&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Non-current liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Long-term lease liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-367"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(4,740&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-368"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(17,265&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(22,005&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Long-term loans&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-369"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(13,495&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-370"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(215,971&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(229,466&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Other long-term bank loans&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-371"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(7,538&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-372"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(14,044&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(21,582&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Debentures&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-373"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(91,714&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-374"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-375"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(91,714&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Deferred tax&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(6,770&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-376"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-377"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-378"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(6,770&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Derivatives&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-379"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-380"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-381"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(28,354&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(28,354&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Other long-term liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-382"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-383"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-384"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt"&gt;Total exposure in statement&#160;of financial position in&#160;respect of financial assets&#160;and financial liabilities&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;452,928&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(72,258&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;2,907&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(300,500&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;83,077&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; text-align: left"&gt;(*)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Including items linked to the Israeli CPI&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;</ello:ScheduleOfCompanysExposureToLinkageAndForeignCurrencyRiskTableTextBlock>
    <ifrs-full:CashAndCashEquivalents
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    <ifrs-full:CashAndCashEquivalents
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    <ifrs-full:CashAndCashEquivalents
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      unitRef="eur">11938000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:CashAndCashEquivalents contextRef="c2" decimals="-3" id="ixv-66430" unitRef="eur">51127000</ifrs-full:CashAndCashEquivalents>
    <ello:ShortTermDeposits
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      id="ix_172_fact"
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    <ello:ShortTermDeposits contextRef="c2" decimals="-3" id="ixv-66432" unitRef="eur">997000</ello:ShortTermDeposits>
    <ello:RestrictedCashAndLongTermBankDeposits
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      unitRef="eur">810000</ello:RestrictedCashAndLongTermBankDeposits>
    <ello:RestrictedCashAndLongTermBankDeposits contextRef="c2" decimals="-3" id="ixv-66434" unitRef="eur">810000</ello:RestrictedCashAndLongTermBankDeposits>
    <ello:IntangibleAssetFromGreenCertificates
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      id="ixv-66435"
      unitRef="eur">553000</ello:IntangibleAssetFromGreenCertificates>
    <ello:IntangibleAssetFromGreenCertificates contextRef="c2" decimals="-3" id="ixv-66436" unitRef="eur">553000</ello:IntangibleAssetFromGreenCertificates>
    <ifrs-full:CurrentReceivablesDueFromAssociates
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      decimals="-3"
      id="ixv-66437"
      unitRef="eur">2584000</ifrs-full:CurrentReceivablesDueFromAssociates>
    <ifrs-full:CurrentReceivablesDueFromAssociates
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      decimals="-3"
      id="ix_173_fact"
      unitRef="eur">2660000</ifrs-full:CurrentReceivablesDueFromAssociates>
    <ifrs-full:CurrentReceivablesDueFromAssociates
      contextRef="c626"
      decimals="-3"
      id="ixv-66439"
      unitRef="eur">6748000</ifrs-full:CurrentReceivablesDueFromAssociates>
    <ifrs-full:CurrentReceivablesDueFromAssociates contextRef="c2" decimals="-3" id="ixv-66440" unitRef="eur">11992000</ifrs-full:CurrentReceivablesDueFromAssociates>
    <ello:AssetsOfDisposalGroupsClassifiedAsHeldForSale
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      decimals="-3"
      id="ixv-66441"
      unitRef="eur">28297000</ello:AssetsOfDisposalGroupsClassifiedAsHeldForSale>
    <ello:AssetsOfDisposalGroupsClassifiedAsHeldForSale contextRef="c2" decimals="-3" id="ixv-66442" unitRef="eur">28297000</ello:AssetsOfDisposalGroupsClassifiedAsHeldForSale>
    <ifrs-full:InvestmentAccountedForUsingEquityMethod
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      decimals="-3"
      id="ixv-66443"
      unitRef="eur">31772000</ifrs-full:InvestmentAccountedForUsingEquityMethod>
    <ifrs-full:InvestmentAccountedForUsingEquityMethod contextRef="c2" decimals="-3" id="ixv-66444" unitRef="eur">31772000</ifrs-full:InvestmentAccountedForUsingEquityMethod>
    <ello:AdvancesOnAccountOfInvestments
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      decimals="-3"
      id="ixv-66445"
      unitRef="eur">898000</ello:AdvancesOnAccountOfInvestments>
    <ello:AdvancesOnAccountOfInvestments contextRef="c2" decimals="-3" id="ixv-66446" unitRef="eur">898000</ello:AdvancesOnAccountOfInvestments>
    <ifrs-full:NoncurrentFinancialAssets
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      decimals="-3"
      id="ixv-66447"
      unitRef="eur">407982000</ifrs-full:NoncurrentFinancialAssets>
    <ifrs-full:NoncurrentFinancialAssets contextRef="c2" decimals="-3" id="ixv-66448" unitRef="eur">407982000</ifrs-full:NoncurrentFinancialAssets>
    <ifrs-full:RightofuseAssets
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      decimals="-3"
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      decimals="-3"
      id="ix_201_fact"
      unitRef="eur">91714000</ifrs-full:NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued>
    <ifrs-full:NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued contextRef="c3" decimals="-3" id="ixv-66571" unitRef="eur">91714000</ifrs-full:NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued>
    <ifrs-full:DeferredTaxLiabilities
      contextRef="c627"
      decimals="-3"
      id="ixv-66572"
      unitRef="eur">6770000</ifrs-full:DeferredTaxLiabilities>
    <ifrs-full:DeferredTaxLiabilities contextRef="c3" decimals="-3" id="ixv-66573" unitRef="eur">6770000</ifrs-full:DeferredTaxLiabilities>
    <ifrs-full:NoncurrentDerivativeFinancialLiabilities
      contextRef="c630"
      decimals="-3"
      id="ixv-66574"
      unitRef="eur">28354000</ifrs-full:NoncurrentDerivativeFinancialLiabilities>
    <ifrs-full:NoncurrentDerivativeFinancialLiabilities contextRef="c3" decimals="-3" id="ixv-66575" unitRef="eur">28354000</ifrs-full:NoncurrentDerivativeFinancialLiabilities>
    <ifrs-full:OtherNoncurrentFinancialLiabilities
      contextRef="c628"
      decimals="-3"
      id="ix_202_fact"
      unitRef="eur">2021000</ifrs-full:OtherNoncurrentFinancialLiabilities>
    <ifrs-full:OtherNoncurrentFinancialLiabilities contextRef="c3" decimals="-3" id="ixv-66577" unitRef="eur">2021000</ifrs-full:OtherNoncurrentFinancialLiabilities>
    <ifrs-full:Equity
      contextRef="c627"
      decimals="-3"
      id="ixv-66578"
      unitRef="eur">452928000</ifrs-full:Equity>
    <ifrs-full:Equity
      contextRef="c628"
      decimals="-3"
      id="ix_203_fact"
      unitRef="eur">-72258000</ifrs-full:Equity>
    <ifrs-full:Equity
      contextRef="c629"
      decimals="-3"
      id="ixv-66580"
      unitRef="usd">2907000</ifrs-full:Equity>
    <ifrs-full:Equity
      contextRef="c630"
      decimals="-3"
      id="ixv-66581"
      unitRef="eur">-300500000</ifrs-full:Equity>
    <ifrs-full:Equity contextRef="c3" decimals="-3" id="ixv-66582" unitRef="eur">83077000</ifrs-full:Equity>
    <ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory contextRef="c0" id="ixv-66584">Information regarding significant exchange
rates:&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the year ended December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Rate of&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Rate of&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Change&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-size: 1pt; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 1pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 1pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Change&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-size: 1pt; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 1pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 1pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;%&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Dollar&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;%&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;NIS&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%; text-align: left"&gt;1 Euro in 2023&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;3.7&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;1.106&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;6.9&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;4.012&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;1 Euro in 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(5.8&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1.066&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6.6&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3.753&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory>
    <ello:PercentageOfChangeInForeignCurrency
      contextRef="c631"
      decimals="3"
      id="ixv-66585"
      unitRef="pure">0.037</ello:PercentageOfChangeInForeignCurrency>
    <ifrs-full:ClosingForeignExchangeRate
      contextRef="c632"
      decimals="3"
      id="ixv-66586"
      unitRef="pure">1.106</ifrs-full:ClosingForeignExchangeRate>
    <ello:PercentageOfChangeInForeignCurrency
      contextRef="c633"
      decimals="3"
      id="ixv-66587"
      unitRef="pure">0.069</ello:PercentageOfChangeInForeignCurrency>
    <ifrs-full:ClosingForeignExchangeRate
      contextRef="c634"
      decimals="3"
      id="ixv-66588"
      unitRef="pure">4.012</ifrs-full:ClosingForeignExchangeRate>
    <ello:PercentageOfChangeInForeignCurrency
      contextRef="c635"
      decimals="3"
      id="ixv-66589"
      unitRef="pure">-0.058</ello:PercentageOfChangeInForeignCurrency>
    <ifrs-full:ClosingForeignExchangeRate
      contextRef="c636"
      decimals="3"
      id="ixv-66590"
      unitRef="pure">1.066</ifrs-full:ClosingForeignExchangeRate>
    <ello:PercentageOfChangeInForeignCurrency
      contextRef="c637"
      decimals="3"
      id="ixv-66591"
      unitRef="pure">0.066</ello:PercentageOfChangeInForeignCurrency>
    <ifrs-full:ClosingForeignExchangeRate
      contextRef="c638"
      decimals="3"
      id="ixv-66592"
      unitRef="pure">3.753</ifrs-full:ClosingForeignExchangeRate>
    <ello:ScheduleOfSensitivityAnalysisOfEquityTableTextBlock contextRef="c0" id="ixv-66593">The analysis assumes that all other variables, in particular interest rates, remain constant.&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31, 2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Increase&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Decrease&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Equity&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Equity&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;Change in the exchange rate of:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify"&gt;5% in the USD&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;(90&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;99&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;5% in NIS&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(9,471&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;9,471&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Increase&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Increase&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Equity&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Equity&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;Change in the exchange rate of:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left"&gt;5% in the USD&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;155&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(155&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;5% in NIS&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(963&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;963&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;</ello:ScheduleOfSensitivityAnalysisOfEquityTableTextBlock>
    <ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity
      contextRef="c639"
      decimals="-3"
      id="ixv-66594"
      unitRef="eur">-90000</ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity>
    <ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity
      contextRef="c640"
      decimals="-3"
      id="ixv-66595"
      unitRef="eur">99000</ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity>
    <ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity
      contextRef="c641"
      decimals="-3"
      id="ixv-66596"
      unitRef="eur">-9471000</ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity>
    <ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity
      contextRef="c642"
      decimals="-3"
      id="ixv-66597"
      unitRef="eur">9471000</ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity>
    <ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity
      contextRef="c643"
      decimals="-3"
      id="ixv-66598"
      unitRef="eur">155000</ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity>
    <ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity
      contextRef="c644"
      decimals="-3"
      id="ixv-66599"
      unitRef="eur">-155000</ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity>
    <ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity
      contextRef="c645"
      decimals="-3"
      id="ixv-66600"
      unitRef="eur">-963000</ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity>
    <ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity
      contextRef="c646"
      decimals="-3"
      id="ixv-66601"
      unitRef="eur">963000</ello:ChangeInExchangeRateOfIncreaseDecreaseOfEquity>
    <ello:ScheduleOfChangeInInterestRateProfitLossTableTextBlock contextRef="c0" id="ixv-66602">A change in interest rate would have
increased (decreased) the profit in the financial statements by the amounts shown below:&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Profit or loss&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Profit or loss&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;

&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%"&gt;Increase of 1%&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;736&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;161&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;Increase of 3%&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;2,204&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;520&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;Decrease of 1%&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(734&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(196&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;Decrease of 3%&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(2,201&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(556&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:ScheduleOfChangeInInterestRateProfitLossTableTextBlock>
    <ello:IncreaseddecreasedProfitOrLoss
      contextRef="c647"
      decimals="-3"
      id="ixv-66603"
      unitRef="eur">736000</ello:IncreaseddecreasedProfitOrLoss>
    <ello:IncreaseddecreasedProfitOrLoss
      contextRef="c648"
      decimals="-3"
      id="ixv-66604"
      unitRef="eur">161000</ello:IncreaseddecreasedProfitOrLoss>
    <ello:IncreaseddecreasedProfitOrLoss
      contextRef="c649"
      decimals="-3"
      id="ixv-66605"
      unitRef="eur">2204000</ello:IncreaseddecreasedProfitOrLoss>
    <ello:IncreaseddecreasedProfitOrLoss
      contextRef="c650"
      decimals="-3"
      id="ixv-66606"
      unitRef="eur">520000</ello:IncreaseddecreasedProfitOrLoss>
    <ello:IncreaseddecreasedProfitOrLoss
      contextRef="c651"
      decimals="-3"
      id="ixv-66607"
      unitRef="eur">-734000</ello:IncreaseddecreasedProfitOrLoss>
    <ello:IncreaseddecreasedProfitOrLoss
      contextRef="c652"
      decimals="-3"
      id="ixv-66608"
      unitRef="eur">-196000</ello:IncreaseddecreasedProfitOrLoss>
    <ello:IncreaseddecreasedProfitOrLoss
      contextRef="c653"
      decimals="-3"
      id="ixv-66609"
      unitRef="eur">-2201000</ello:IncreaseddecreasedProfitOrLoss>
    <ello:IncreaseddecreasedProfitOrLoss
      contextRef="c654"
      decimals="-3"
      id="ixv-66610"
      unitRef="eur">-556000</ello:IncreaseddecreasedProfitOrLoss>
    <ello:PercentageOfIncomeForProduction contextRef="c2" decimals="2" id="ixv-66611" unitRef="pure">0.80</ello:PercentageOfIncomeForProduction>
    <ifrs-full:DepositsFromBanks contextRef="c40" decimals="-6" id="ixv-66612" unitRef="eur">10000000</ifrs-full:DepositsFromBanks>
    <ello:PercentageOfSecurityFundMonthlyReduction contextRef="c5" decimals="2" id="ixv-66613" unitRef="pure">0.10</ello:PercentageOfSecurityFundMonthlyReduction>
    <ello:SecurityFundAmount contextRef="c5" decimals="-5" id="ixv-66614" unitRef="eur">3500000</ello:SecurityFundAmount>
    <ello:ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesTableTextBlock contextRef="c0" id="ixv-66615">The fair values of the other financial
liabilities, together with the carrying amounts shown in the statement of financial position, are as follows:&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="19" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2023&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Fair value&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;b&gt;Valuation&#160;techniques&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;b&gt;Inputs used to&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Carrying&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;for determining&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;determine&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;amount&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Level 1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Level 2&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Level 3&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;fair value&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt; fair value&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"&gt;Non-current liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 27.5%; text-align: left"&gt;Debentures&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;140,087&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;134,464&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-385"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-386"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 0.5%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 18.5%; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 18.5%; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; vertical-align: top; text-align: left; padding-bottom: 1.5pt"&gt;Loans from banks and others (including current maturities)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;b&gt;281,938&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-387"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;b&gt;231,057&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-388"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: justify; padding-bottom: 1.5pt"&gt;Discounting future cash flows by the market interest rate on the date of measurement.&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: justify; padding-bottom: 1.5pt"&gt;See Note 21F(2)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;422,025&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;134,464&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;231,057&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-389"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="19" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2022&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Fair value&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;b&gt;Valuation techniques&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&lt;b&gt;Inputs used to&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Carrying&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt; for determining &lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;determine&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;amount&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 1&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 2&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 3&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;fair value&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt; fair value&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"&gt;Non-current liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 27.5%; text-align: left"&gt;Debentures&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;110,428&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;102,957&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-390"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-391"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 18.5%; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 18.5%; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; vertical-align: top; text-align: left; padding-bottom: 1.5pt"&gt;Loans from banks and others (including current maturities)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;273,863&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-392"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;217,073&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-393"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: justify; padding-bottom: 1.5pt"&gt;Discounting future cash flows by the market interest rate on the date of measurement.&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: justify; padding-bottom: 1.5pt"&gt;See Note 21F(2)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;384,291&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;102,957&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;217,073&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-394"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;</ello:ScheduleOfFairValuesOfTheOtherFinancialLiabilitiesTableTextBlock>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="c655"
      decimals="-3"
      id="ixv-66616"
      unitRef="eur">140087000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="c656"
      decimals="-3"
      id="ixv-66617"
      unitRef="eur">134464000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
      contextRef="c655"
      decimals="-3"
      id="ixv-66618"
      unitRef="eur">281938000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
      contextRef="c657"
      decimals="-3"
      id="ixv-66619"
      unitRef="eur">231057000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
    <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementLiabilities contextRef="c659" id="ixv-66620">Discounting future cash flows by the market interest rate on the date of measurement.</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c660" id="ixv-66621">See Note 21F(2)</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:CurrentFinancialLiabilities
      contextRef="c655"
      decimals="-3"
      id="ixv-66622"
      unitRef="eur">422025000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:CurrentFinancialLiabilities
      contextRef="c656"
      decimals="-3"
      id="ixv-66623"
      unitRef="eur">134464000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:CurrentFinancialLiabilities
      contextRef="c657"
      decimals="-3"
      id="ixv-66624"
      unitRef="eur">231057000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="c661"
      decimals="-3"
      id="ixv-66625"
      unitRef="eur">110428000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="c662"
      decimals="-3"
      id="ixv-66626"
      unitRef="eur">102957000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
      contextRef="c661"
      decimals="-3"
      id="ixv-66627"
      unitRef="eur">273863000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
    <ifrs-full:BankBorrowingsUndiscountedCashFlows
      contextRef="c663"
      decimals="-3"
      id="ixv-66628"
      unitRef="eur">217073000</ifrs-full:BankBorrowingsUndiscountedCashFlows>
    <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementLiabilities contextRef="c665" id="ixv-66629">Discounting future cash flows by the market interest rate on the date of measurement.</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c666" id="ixv-66630">See Note 21F(2)</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:CurrentFinancialLiabilities
      contextRef="c661"
      decimals="-3"
      id="ixv-66631"
      unitRef="eur">384291000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:CurrentFinancialLiabilities
      contextRef="c662"
      decimals="-3"
      id="ixv-66632"
      unitRef="eur">102957000</ifrs-full:CurrentFinancialLiabilities>
    <ifrs-full:CurrentFinancialLiabilities
      contextRef="c663"
      decimals="-3"
      id="ixv-66633"
      unitRef="eur">217073000</ifrs-full:CurrentFinancialLiabilities>
    <ello:ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsTableTextBlock contextRef="c0" id="ixv-66634">The interest rates used to discount
estimated cash flows, when applicable, are based on the government yield curve at the reporting date plus an adequate credit spread, and
were as follows:&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31,&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; vertical-align: top; font-weight: bold; text-align: center"&gt;2023&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; vertical-align: top; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;%&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: left"&gt;Non-current liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="vertical-align: top; width: 22%; text-align: left"&gt;Loans from banks&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; width: 38%; font-weight: bold; text-align: left"&gt;Discount rate of Euribor+ 2% with a zero floor&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; width: 38%; text-align: left"&gt;Discount rate of Euribor+ 2% with a zero floor&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Loans from banks&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: left"&gt;fixed rate for several years 3.1%-6% Linkage to Euribor&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;fixed rate for 5 years 2.65%-4.5% Linkage to Euribor&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Loans from banks&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: left"&gt;2.58%-4.78% Linkage to Consumer price index in Israel&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;2.58% Linkage to Israeli CPI&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Loans from banks&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: left"&gt;Floating interest rate based on the Bank of Israel Rate plus a spread of 4.35%.&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Floating interest rate based on the Bank of Israel Rate plus a spread of 4.35%.&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Loans from banks&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: left"&gt;fixed rate of 2.58%-3.03%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;fixed rate 2.58%-3.03%&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Loans from others&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: left"&gt;Euribor+ 5.27%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Euribor+ 5.27%&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;Loans from others&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: left"&gt;7% Linkage to Consumer price index in Israel and fixed rate of 5.5%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: left"&gt;7% Linkage to Israeli CPI and fixed rate of 5.5%&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ello:ScheduleOfInterestRatesUsedToDiscountEstimatedCashFlowsTableTextBlock>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c667" id="ixv-66635">Discount rate of Euribor+ 2% with a zero floor</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c668" id="ixv-66636">Discount rate of Euribor+ 2% with a zero floor</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c669" id="ixv-66637">fixed rate for several years 3.1%-6% Linkage to Euribor</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c670" id="ixv-66638">fixed rate for 5 years 2.65%-4.5% Linkage to Euribor</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c671" id="ixv-66639">2.58%-4.78% Linkage to Consumer price index in Israel</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c672" id="ixv-66640">2.58% Linkage to Israeli CPI</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c673" id="ixv-66641">Floating interest rate based on the Bank of Israel Rate plus a spread of 4.35%.</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c674" id="ixv-66642">Floating interest rate based on the Bank of Israel Rate plus a spread of 4.35%.</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c675" id="ixv-66643">fixed rate of 2.58%-3.03%</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c676" id="ixv-66644">fixed rate 2.58%-3.03%</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c677" id="ixv-66645">Euribor+ 5.27%</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c678" id="ixv-66646">Euribor+ 5.27%</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c679" id="ixv-66647">7% Linkage to Consumer price index in Israel and fixed rate of 5.5%</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities contextRef="c680" id="ixv-66648">7% Linkage to Israeli CPI and fixed rate of 5.5%</ifrs-full:DescriptionOfInputsUsedInFairValueMeasurementLiabilities>
    <ifrs-full:DerivativeFinancialAssets
      contextRef="c682"
      decimals="-3"
      id="ixv-66649"
      unitRef="eur">882000</ifrs-full:DerivativeFinancialAssets>
    <ifrs-full:DerivativeFinancialAssets
      contextRef="c684"
      decimals="-3"
      id="ixv-66650"
      unitRef="eur">882000</ifrs-full:DerivativeFinancialAssets>
    <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets contextRef="c685" id="ixv-66651">Fair value is measured by discounting the future cash flows, over the period of the contract and using market interest rates appropriate for similar instruments, including the adjustment required for the parties&#x2019; credit risks.</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
    <ifrs-full:DerivativeFinancialAssets
      contextRef="c688"
      decimals="-3"
      id="ixv-66652"
      unitRef="eur">5698000</ifrs-full:DerivativeFinancialAssets>
    <ifrs-full:DerivativeFinancialAssets
      contextRef="c689"
      decimals="-3"
      id="ixv-66653"
      unitRef="eur">5698000</ifrs-full:DerivativeFinancialAssets>
    <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets contextRef="c690" id="ixv-66654">Fair value is measured by discounting the future fixed and assessed cash flows, over the period of the contract and using market interest rates appropriate for similar instruments. The value is adjusted for the parties&#x2019; credit risks.</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
    <ifrs-full:DerivativeFinancialAssets
      contextRef="c691"
      decimals="-3"
      id="ixv-66655"
      unitRef="eur">2836000</ifrs-full:DerivativeFinancialAssets>
    <ifrs-full:DerivativeFinancialAssets
      contextRef="c694"
      decimals="-3"
      id="ixv-66656"
      unitRef="eur">2836000</ifrs-full:DerivativeFinancialAssets>
    <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets contextRef="c695" id="ixv-66657">Market price.</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
    <ifrs-full:DerivativeFinancialAssets
      contextRef="c697"
      decimals="-3"
      id="ixv-66658"
      unitRef="eur">1761000</ifrs-full:DerivativeFinancialAssets>
    <ifrs-full:DerivativeFinancialAssets
      contextRef="c699"
      decimals="-3"
      id="ixv-66659"
      unitRef="eur">1761000</ifrs-full:DerivativeFinancialAssets>
    <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets contextRef="c700" id="ixv-66660">Fair value is measured by discounting the future cash flows, over the period of the contract and using market interest rates appropriate for similar instruments, including the adjustment required for the parties&#x2019; credit risks.</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
    <ifrs-full:DerivativeFinancialAssets
      contextRef="c703"
      decimals="-3"
      id="ixv-66661"
      unitRef="eur">-61537000</ifrs-full:DerivativeFinancialAssets>
    <ifrs-full:DerivativeFinancialAssets
      contextRef="c704"
      decimals="-3"
      id="ixv-66662"
      unitRef="eur">-61537000</ifrs-full:DerivativeFinancialAssets>
    <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets contextRef="c705" id="ixv-66663">Fair value is measured by discounting the future fixed and assessed cash flows, over the period of the contract and using market interest rates appropriate for similar instruments. The value is adjusted for the parties&#x2019; credit risks.</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
    <ello:ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock contextRef="c0" id="ixv-66664">The table hereunder presents reconciliation
from the beginning balance to the ending balance of financial instruments carried at fair value in level 3 of the fair value hierarchy:&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Financial
assets&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Dori Energy loan&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;

  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 87%"&gt;Balance as at January 1, 2022&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left; width: 1%"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right; width: 9%"&gt;(20,894&lt;/td&gt;&lt;td style="text-align: left; width: 2%"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Total income recognized in profit or loss&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;49,679&lt;/td&gt;&lt;td style="text-align: left"&gt;*&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Total income recognized in other comprehensive income&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(90,322&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)*&lt;/td&gt;&lt;/tr&gt;

&lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Balance as at December 31, 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(61,537&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Total income recognized in profit or loss&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;13,777&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Total income recognized in other comprehensive income&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;53,548&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Balance as at December 31, 2023&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;5,698&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; text-align: left"&gt;*&lt;/td&gt;&lt;td style="text-align: justify"&gt;Reclassified&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ello:ScheduleOfReconciliationFinancialInstrumentsCarriedAtFairValueTableTextBlock>
    <ifrs-full:FinancialLiabilities
      contextRef="c706"
      decimals="-3"
      id="ixv-66665"
      unitRef="eur">-20894000</ifrs-full:FinancialLiabilities>
    <ifrs-full:GainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss
      contextRef="c707"
      decimals="-3"
      id="ix_204_fact"
      unitRef="eur">49679000</ifrs-full:GainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss>
    <ifrs-full:FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsRecognisedInOtherComprehensiveIncome
      contextRef="c707"
      decimals="-3"
      id="ix_205_fact"
      unitRef="eur">-90322000</ifrs-full:FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsRecognisedInOtherComprehensiveIncome>
    <ifrs-full:FinancialLiabilities
      contextRef="c708"
      decimals="-3"
      id="ixv-66668"
      unitRef="eur">-61537000</ifrs-full:FinancialLiabilities>
    <ifrs-full:GainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss
      contextRef="c709"
      decimals="-3"
      id="ixv-66669"
      unitRef="eur">13777000</ifrs-full:GainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss>
    <ifrs-full:FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsRecognisedInOtherComprehensiveIncome
      contextRef="c709"
      decimals="-3"
      id="ixv-66670"
      unitRef="eur">53548000</ifrs-full:FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfAvailableforsaleFinancialAssetsRecognisedInOtherComprehensiveIncome>
    <ifrs-full:FinancialLiabilities
      contextRef="c710"
      decimals="-3"
      id="ixv-66671"
      unitRef="eur">5698000</ifrs-full:FinancialLiabilities>
    <ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory contextRef="c0" id="ixv-43526">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="background-color: White"&gt;&lt;b&gt;Note
22 - Operating Segments &lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="background-color: White"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="background-color: White"&gt;The
C&lt;span style="font-family: Times New Roman, Times, Serif"&gt;om&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;pany&#x2019;s
reportable segments, which form the Company&#x2019;s strategic business units, are described below:&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x25cf;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;PV Plants &#x2013; Operation of installations that convert the energy
in sunlight into electrical &lt;span style="background-color: white"&gt;energy&lt;/span&gt; as follows:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(i)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;approximately&#160;7.9MWp
                                            aggregate installed capacity of photovoltaic power plants in Spain,&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
                                                                                                                                &lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(ii)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Ellomay
                                            Solar S.L.U, a photovoltaic plant with a peak capacity of 28 MW in the municipality of Talav&#xe1;n,
                                            C&#xe1;ceres, Spain, that was connected to the electricity grid at June 24, 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
                                                                                                                                               &lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(iii)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;51% of Talasol, with a peak capacity of 300 MW in the municipality of Talav&#xe1;n, C&#xe1;ceres, Spain,&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(iv)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;a
                                            photovoltaic power plant of approximately 9 MWp installed capacity in Israel&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
                                                                                                                                         &lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(v)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Ellomay
                                            Solar Italy One SRL and Ellomay Solar Italy Two SRL that are constructing photovoltaic plants
                                            with installed capacity of 14.8 MW and 4.95 MW respectively, in the Lazio Region, Italy,&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
                                                                                                                                                     &lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(vi)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Ellomay
                                            Solar Italy Four SRL, Ellomay Solar Italy Five SRL, Ellomay Solar Italy Seven SRL, Ellomay
                                            Solar Italy Nine SRL and Ellomay Solar Italy Ten SRL that are developing photovoltaic projects
                                            with installed capacity of 15.06 MW, 87.2 MW, 54.77 MW, 8 MW and 18 MW, respectively, in
                                            Italy that have reached &#x201c;ready to build&#x201d; status and &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
                                                                                                                             &lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;(vii)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="background-color: white"&gt;Fairfield Solar Project, LLC,
Malakoff Solar I, LLC, Malakoff Solar II, LLC, Mexia Solar I, LLC, Mexia Solar II, LLC, and Talco Solar, LLC, that are developing photovoltaic
projects with installed capacity of 13.44 MW, 6.96 MW, 6.96 MW, 5.6 MW, 5.6 MW and 10.3 MW, respectively, in the Dallas Metropolitan area,
Texas, that have reached &#x201c;ready to build&#x201d; status.&lt;/span&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
                                                                                                                                             &lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x25cf;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V. (BioGas), project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million Nm3 per year, respectively.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x25cf;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Dorad Energy Ltd. (Dorad) &#x2013; 9.375% indirect interest in Dorad, which owns and operates a combined cycle power plant based on natural gas, with production capacity of approximately 860 MW, located south of Ashkelon, Israel.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;

&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#x25cf;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Pumped storage hydro power plant (Manara) &#x2013; 83.333% indirect interest in a company constructing a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 64.35pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Factors
that management used to identify the Company&#x2019;s reportable segments&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;The
Company&#x2019;s strategic business units offer different products, and the allocation of resources and evaluation of performance is managed
separately because they require different technology.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;For
each of the strategic business units, the Company&#x2019;s chief operating decision maker (&#x201c;CODM&#x201d;) reviews internal management
reports on at least a quarterly basis. The following summary describes the operations in each of the Company&#x2019;s operating segments.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;The
Company presented the photovoltaic power plants per geographical areas, as the information collected and analyzed by the CODM in connection
with the PV Plants is presented based on the physical location of the PV Plant. The CODM reviews the NIS denominated information on Dorad
and the PV Plant located in Israel and the information presented in the tables below is translated into euro. The CODM reviews the results
of Dorad according to the Company&#x2019;s share in Dorad. In the reports analyzed by the CODM, the PV Plant located in Israel is presented
under the fixed asset model and not under the financial asset model as per IFRIC 12, please see the adjusted gross profit calculation.&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Performance
is measured based on segment adjusted gross profit as included in reports that are regularly reviewed by the chief operating decision
maker. Segment adjusted gross profit is used to measure performance as management believes that such information is the most relevant
in evaluating the results of certain segments relative to other entities that operate within these industries.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom"&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="22" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;PV&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Ellomay
    Solar&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Talasol&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;p style="font-size: 8pt; margin: 0pt 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel&lt;br/&gt;
                                            (Discontinued &lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Bio
    Gas&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Dorad&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Manara&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Total
    reportable&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom"&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Italy&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;USA&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&lt;b&gt;operation)&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Netherland&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;segments&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Reconciliations&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;consolidated&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom"&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="49" style="border-bottom: Black 1.5pt solid; font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&lt;b&gt;For
    the year ended December 31, 2023&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom"&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="49" style="border-bottom: Black 1.5pt solid; font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&lt;b&gt;&#x20ac;
    in thousands&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; width: 8.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-405; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;2,791&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;4,051&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;24,971&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-406; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;675&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;17,021&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;63,973&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-407; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;113,482&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(64,648&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;48,834&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Operating
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-408; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(517&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(1,825&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(5,786&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-409; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(342&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(14,733&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(47,322&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-410; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(70,525&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;47,664&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(22,861&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Depreciation
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-411; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(912&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(946&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(11,459&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-412; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(461&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(2,670&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(5,689&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-413; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(22,137&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;6,126&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(16,012&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Gross
    profit (loss)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-414; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,362&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,280&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;7,726&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-415; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(128&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(382&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;10,962&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-416; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;20,820&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(10,858&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;9,961&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Adjusted
    gross profit (loss)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-417; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,362&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,280&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;7,726&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-418; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,223&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(382&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;10,962&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-419; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;22,171&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(10,986&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;9,961&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Project
    development costs&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(4,465&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;General
    and administrative expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(5,283&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Share
    of loss of equity accounted investee&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;4,320&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Operating
    profit&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;4,533&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    income&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;8,747&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    expenses in connection with derivatives and warrants, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;251&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    expenses, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(12,555&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Profit
    before taxes on income&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;976&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Segment
    assets as at&#160;December&#160;31, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;40,054&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,807&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;18,666&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;231,142&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;6,267&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;28,297&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;31,164&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;97,339&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;169,783&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;635,519&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(22,667&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;612,852&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="18" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;PV&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Ellomay
    Solar&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Talasol&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;p style="font-family: Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel
                                            &lt;b&gt;(Discontinued&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Bio
    Gas&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Dorad&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Manara&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Total
    reportable&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Italy&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&lt;b&gt;operation)&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Netherland&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;segments&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Reconciliations&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;consolidated&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="46" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;For
    the year ended December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="46" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; width: 15.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;3,264&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;3,597&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;32,740&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,119&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,640&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;62,813&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;116,173&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(63,932&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;52,241&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Operating
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(322&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(1,399&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(8,764&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(418&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(13,186&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(47,442&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(71,531&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;47,860&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(23,671&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Depreciation
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(908&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(427&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(11,400&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(512&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(2,824&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(6,339&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(22,410&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;6,830&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(15,580&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Gross
    profit (loss)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;2,034&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,771&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,576&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;189&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(3,370&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;9,032&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;22,232&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(9,242&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,990&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Adjusted
    gross profit (loss)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;2,034&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,771&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,576&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,565&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(3,370&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;9,032&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;23,608&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(10,618&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,990&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Project
    development costs&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(3,784&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;General
    and administrative expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(5,855&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Share
    of loss of equity accounted investee&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,206&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Operating
    profit&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;4,557&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    income&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;6,443&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
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    expenses in connection&#160;with derivatives and warrants, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;605&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    expenses, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(10,524&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Profit
    before taxes on income&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,081&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Segment
    assets as at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;22,608&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;14,577&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;20,090&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;244,584&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;34,750&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;32,002&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;107,079&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;137,432&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;613,122&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(36,965&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;576,157&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;PV&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Ellomay
    Solar&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Talasol&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;p style="margin: 0pt 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel
                                            &lt;b&gt;(Discontinued&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Bio
    Gas&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Dorad&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Manara&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Total
    reportable&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Italy&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;p style="margin: 0pt 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;operation)&lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Netherland&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;segments&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Reconciliations&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;consolidated&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="44" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;For
    the year ended December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="44" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; width: 16.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-420; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;2,587&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-421; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;29,432&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,016&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,686&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;51,630&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-422; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;97,351&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(52,646&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;44,705&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Operating
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-423; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(472&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-424; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(6,305&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(367&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(10,446&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(39,175&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-425; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(56,765&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;39,542&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(17,223&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Depreciation
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-426; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(904&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-427; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(10,586&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(475&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(3,135&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(5,539&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-428; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(20,639&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;5,998&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(14,641&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Gross
    profit (loss)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-429; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,211&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-430; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,541&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;174&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(895&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;6,916&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-431; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;19,947&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(7,106&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,841&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Adjusted
    gross profit (loss)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-432; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,211&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-433; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,541&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,514&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(895&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;6,916&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-434; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;21,287&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(8,446&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,841&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Project
    development costs&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(2,508&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;General
    and administrative expenses&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(5,624&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Share
    of loss of equity accounted investee&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;117&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Operating
    profit&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;4,826&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    income&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;673&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    expenses in connection&#160;with
    derivatives and warrants, net&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(841&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    expenses, net&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(27,593&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Loss
    before taxes on income&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(22,935&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Segment
    assets as at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,715&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;13,841&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;14,456&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;247,004&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;38,809&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;34,570&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;118,435&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;107,678&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;576,508&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(24,529&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;551,979&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white"&gt;&lt;b&gt;Geographical
information&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"&gt;The Company is domiciled in Israel
and it operates in Israel, Spain, Italy and USA through its subsidiaries that promote, develop and own PV Plants, in the Netherlands
through its subsidiaries that own anaerobic digestion plants and also in Israel through Ellomay Luzon Energy.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"&gt;The following table lists the revenues
from the Company&#x2019;s operations in Spain, Israel and the Netherlands:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the year ended December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;Spanish PV segment&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;2,791&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,264&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;2,587&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Ellomay Solar PV segment (Spain)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;4,051&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,597&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Talasol PV segment (Spain)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;24,971&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;32,740&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;29,432&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Netherlands biogas segment&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;17,021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;12,640&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;12,686&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Total revenues&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;48,834&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;52,241&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;44,705&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"&gt;The
following table lists the non-current assets, net from the Company&#x2019;s operations in Spain, Israel, USA, Italy and the Netherlands:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As at December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;Non-current assets (*)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left"&gt;Spain&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;238,580&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;251,574&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-style: normal; font-weight: normal"&gt;Israel&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;195,248&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;187,798&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;USA&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;6,041&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-435"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Italy&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;33,711&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;20,363&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Netherlands&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;25,871&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;26,749&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Total fixed assets, net&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;499,451&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;486,484&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.25in; text-align: left"&gt;(*)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Other than financial instruments, deferred tax assets and
employee benefit assets.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory>
    <ifrs-full:PercentageOfEntitysRevenue
      contextRef="c711"
      decimals="2"
      id="ixv-66673"
      unitRef="pure">0.51</ifrs-full:PercentageOfEntitysRevenue>
    <ifrs-full:OtherRevenue
      contextRef="c712"
      decimals="-6"
      id="ixv-66674"
      unitRef="usd">3000000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue
      contextRef="c713"
      decimals="-5"
      id="ixv-66675"
      unitRef="usd">3800000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue
      contextRef="c714"
      decimals="-5"
      id="ixv-66676"
      unitRef="usd">9500000</ifrs-full:OtherRevenue>
    <ello:PecentageOfIndirectInterest
      contextRef="c715"
      decimals="5"
      id="ixv-66677"
      unitRef="pure">0.09375</ello:PecentageOfIndirectInterest>
    <ello:PecentageOfIndirectInterest
      contextRef="c716"
      decimals="5"
      id="ixv-66678"
      unitRef="pure">0.83333</ello:PecentageOfIndirectInterest>
    <ifrs-full:DisclosureOfGeographicalAreasExplanatory contextRef="c0" id="ixv-43647">&lt;span style="font-family: Times New Roman, Times, Serif"&gt;Performance
is measured based on segment adjusted gross profit as included in reports that are regularly reviewed by the chief operating decision
maker. Segment adjusted gross profit is used to measure performance as management believes that such information is the most relevant
in evaluating the results of certain segments relative to other entities that operate within these industries.&lt;/span&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom"&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="22" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;PV&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Ellomay
    Solar&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Talasol&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;p style="font-size: 8pt; margin: 0pt 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel&lt;br/&gt;
                                            (Discontinued &lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Bio
    Gas&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Dorad&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Manara&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Total
    reportable&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom"&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Italy&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;USA&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&lt;b&gt;operation)&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Netherland&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;segments&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Reconciliations&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;consolidated&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom"&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="49" style="border-bottom: Black 1.5pt solid; font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&lt;b&gt;For
    the year ended December 31, 2023&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom"&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="49" style="border-bottom: Black 1.5pt solid; font-size: 8pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&lt;b&gt;&#x20ac;
    in thousands&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; width: 8.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-405; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;2,791&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;4,051&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;24,971&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-406; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;675&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;17,021&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;63,973&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-407; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;113,482&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(64,648&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 6%; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;48,834&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; width: 0.5%; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Operating
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-408; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(517&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(1,825&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(5,786&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-409; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(342&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(14,733&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(47,322&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-410; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(70,525&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;47,664&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(22,861&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Depreciation
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-411; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(912&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(946&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(11,459&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-412; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(461&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(2,670&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(5,689&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-413; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(22,137&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;6,126&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(16,012&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Gross
    profit (loss)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-414; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,362&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,280&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;7,726&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-415; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(128&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(382&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;10,962&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-416; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;20,820&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(10,858&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;9,961&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Adjusted
    gross profit (loss)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-417; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,362&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,280&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;7,726&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-418; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,223&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(382&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;10,962&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-419; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;22,171&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(10,986&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;9,961&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Project
    development costs&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(4,465&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;General
    and administrative expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(5,283&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Share
    of loss of equity accounted investee&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;4,320&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Operating
    profit&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;4,533&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    income&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;8,747&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    expenses in connection with derivatives and warrants, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;251&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    expenses, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(12,555&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Profit
    before taxes on income&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;976&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-size: 8pt; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-size: 8pt; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Segment
    assets as at&#160;December&#160;31, 2023&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;40,054&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,807&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;18,666&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;231,142&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;6,267&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;28,297&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;31,164&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;97,339&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;169,783&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;635,519&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(22,667&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; font-size: 8pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;612,852&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="18" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;PV&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Ellomay
    Solar&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Talasol&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;p style="font-family: Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel
                                            &lt;b&gt;(Discontinued&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Bio
    Gas&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Dorad&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Manara&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Total
    reportable&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Italy&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&lt;b&gt;operation)&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Netherland&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;segments&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Reconciliations&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;consolidated&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="46" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;For
    the year ended December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="46" style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; width: 15.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;3,264&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;3,597&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;32,740&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,119&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,640&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;62,813&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;116,173&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(63,932&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;52,241&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Operating
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(322&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(1,399&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(8,764&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(418&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(13,186&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(47,442&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(71,531&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;47,860&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(23,671&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Depreciation
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(908&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(427&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(11,400&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(512&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(2,824&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(6,339&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(22,410&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;6,830&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(15,580&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Gross
    profit (loss)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;2,034&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,771&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,576&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;189&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(3,370&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;9,032&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;22,232&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(9,242&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,990&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Adjusted
    gross profit (loss)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;2,034&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,771&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,576&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,565&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(3,370&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;9,032&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;23,608&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(10,618&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,990&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Project
    development costs&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(3,784&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;General
    and administrative expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(5,855&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Share
    of loss of equity accounted investee&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,206&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Operating
    profit&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;4,557&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    income&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;6,443&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
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    expenses in connection&#160;with derivatives and warrants, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;605&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    expenses, net&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(10,524&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Profit
    before taxes on income&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,081&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Segment
    assets as at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;22,608&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;14,577&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;20,090&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;244,584&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;34,750&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;32,002&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;107,079&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;137,432&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;613,122&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(36,965&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;576,157&lt;/span&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;PV&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Ellomay
    Solar&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Talasol&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;p style="margin: 0pt 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel
                                            &lt;b&gt;(Discontinued&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Bio
    Gas&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Dorad&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Manara&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Total
    reportable&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Italy&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;p style="margin: 0pt 0"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;operation)&lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Netherland&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Israel&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;segments&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Reconciliations&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;consolidated&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="44" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;For
    the year ended December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="44" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#x20ac;
    in thousands&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; width: 16.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-420; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;2,587&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-421; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;29,432&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,016&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,686&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;51,630&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-422; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;97,351&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(52,646&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid; width: 0.5%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;44,705&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 0.5%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Operating
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-423; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(472&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-424; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(6,305&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(367&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(10,446&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(39,175&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-425; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(56,765&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;39,542&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(17,223&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Depreciation
    expenses&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-426; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(904&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-427; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(10,586&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(475&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(3,135&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(5,539&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-428; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(20,639&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;5,998&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(14,641&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Gross
    profit (loss)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-429; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,211&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-430; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,541&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;174&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(895&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;6,916&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-431; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;19,947&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(7,106&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,841&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Adjusted
    gross profit (loss)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-432; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,211&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-433; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,541&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;1,514&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(895&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;6,916&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-434; font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;21,287&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(8,446&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;12,841&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Project
    development costs&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(2,508&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;General
    and administrative expenses&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(5,624&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Share
    of loss of equity accounted investee&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;117&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Operating
    profit&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;4,826&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    income&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;673&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    expenses in connection&#160;with
    derivatives and warrants, net&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(841&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Financing
    expenses, net&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(27,593&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;Loss
    before taxes on income&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;(22,935&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-left: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
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    <ifrs-full:OperatingExpense
      contextRef="c745"
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    <ifrs-full:OperatingExpense
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    <ifrs-full:OperatingExpense
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    <ifrs-full:OperatingExpense
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    <ifrs-full:DepreciationAndAmortisationExpense
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    <ifrs-full:DepreciationAndAmortisationExpense
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    <ifrs-full:DepreciationAndAmortisationExpense
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    <ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss
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      decimals="-3"
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      unitRef="eur">576157000</ifrs-full:Assets>
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      unitRef="eur">2587000</ifrs-full:Revenue>
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      decimals="-3"
      id="ixv-66809"
      unitRef="eur">29432000</ifrs-full:Revenue>
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      unitRef="eur">1016000</ifrs-full:Revenue>
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      unitRef="eur">51630000</ifrs-full:Revenue>
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      unitRef="eur">10446000</ifrs-full:OperatingExpense>
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      contextRef="c767"
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      decimals="-3"
      id="ixv-66821"
      unitRef="eur">56765000</ifrs-full:OperatingExpense>
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      unitRef="eur">17223000</ifrs-full:OperatingExpense>
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      contextRef="c765"
      decimals="-3"
      id="ixv-66826"
      unitRef="eur">475000</ifrs-full:DepreciationAndAmortisationExpense>
    <ifrs-full:DepreciationAndAmortisationExpense
      contextRef="c766"
      decimals="-3"
      id="ixv-66827"
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    <ifrs-full:DepreciationAndAmortisationExpense
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      decimals="-3"
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      unitRef="eur">5539000</ifrs-full:DepreciationAndAmortisationExpense>
    <ifrs-full:DepreciationAndAmortisationExpense
      contextRef="c769"
      decimals="-3"
      id="ixv-66829"
      unitRef="eur">20639000</ifrs-full:DepreciationAndAmortisationExpense>
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      contextRef="c770"
      decimals="-3"
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    <ifrs-full:DepreciationAndAmortisationExpense
      contextRef="c771"
      decimals="-3"
      id="ixv-66831"
      unitRef="eur">14641000</ifrs-full:DepreciationAndAmortisationExpense>
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      contextRef="c762"
      decimals="-3"
      id="ixv-66832"
      unitRef="eur">1211000</ifrs-full:GrossProfit>
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      id="ixv-66833"
      unitRef="eur">12541000</ifrs-full:GrossProfit>
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      contextRef="c765"
      decimals="-3"
      id="ixv-66834"
      unitRef="eur">174000</ifrs-full:GrossProfit>
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      unitRef="eur">-895000</ifrs-full:GrossProfit>
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      contextRef="c767"
      decimals="-3"
      id="ixv-66836"
      unitRef="eur">6916000</ifrs-full:GrossProfit>
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      contextRef="c769"
      decimals="-3"
      id="ixv-66837"
      unitRef="eur">19947000</ifrs-full:GrossProfit>
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      contextRef="c770"
      decimals="-3"
      id="ixv-66838"
      unitRef="eur">-7106000</ifrs-full:GrossProfit>
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      contextRef="c771"
      decimals="-3"
      id="ixv-66839"
      unitRef="eur">12841000</ifrs-full:GrossProfit>
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      contextRef="c762"
      decimals="-3"
      id="ixv-66840"
      unitRef="eur">1211000</ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss>
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      contextRef="c764"
      decimals="-3"
      id="ixv-66841"
      unitRef="eur">12541000</ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss>
    <ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss
      contextRef="c765"
      decimals="-3"
      id="ixv-66842"
      unitRef="eur">1514000</ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss>
    <ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss
      contextRef="c766"
      decimals="-3"
      id="ixv-66843"
      unitRef="eur">-895000</ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss>
    <ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss
      contextRef="c767"
      decimals="-3"
      id="ixv-66844"
      unitRef="eur">6916000</ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss>
    <ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss
      contextRef="c769"
      decimals="-3"
      id="ixv-66845"
      unitRef="eur">21287000</ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss>
    <ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss
      contextRef="c770"
      decimals="-3"
      id="ixv-66846"
      unitRef="eur">-8446000</ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss>
    <ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss
      contextRef="c771"
      decimals="-3"
      id="ixv-66847"
      unitRef="eur">12841000</ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss>
    <ifrs-full:SellingGeneralAndAdministrativeExpense
      contextRef="c771"
      decimals="-3"
      id="ixv-66848"
      unitRef="eur">2508000</ifrs-full:SellingGeneralAndAdministrativeExpense>
    <ifrs-full:GeneralAndAdministrativeExpense
      contextRef="c771"
      decimals="-3"
      id="ixv-66849"
      unitRef="eur">-5624000</ifrs-full:GeneralAndAdministrativeExpense>
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      contextRef="c771"
      decimals="-3"
      id="ixv-66850"
      unitRef="eur">117000</ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod>
    <ifrs-full:ProfitLossFromOperatingActivities
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      decimals="-3"
      id="ixv-66851"
      unitRef="eur">4826000</ifrs-full:ProfitLossFromOperatingActivities>
    <ifrs-full:FinanceIncome
      contextRef="c771"
      decimals="-3"
      id="ixv-66852"
      unitRef="eur">673000</ifrs-full:FinanceIncome>
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      decimals="-3"
      id="ixv-66853"
      unitRef="eur">-841000</ifrs-full:FinanceCosts>
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      decimals="-3"
      id="ixv-66854"
      unitRef="eur">-27593000</ifrs-full:OtherFinanceIncomeCost>
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      decimals="-3"
      id="ixv-66855"
      unitRef="eur">-22935000</ifrs-full:ProfitLossBeforeTax>
    <ifrs-full:Assets
      contextRef="c772"
      decimals="-3"
      id="ixv-66856"
      unitRef="eur">1715000</ifrs-full:Assets>
    <ifrs-full:Assets
      contextRef="c773"
      decimals="-3"
      id="ixv-66857"
      unitRef="eur">13841000</ifrs-full:Assets>
    <ifrs-full:Assets
      contextRef="c774"
      decimals="-3"
      id="ixv-66858"
      unitRef="eur">14456000</ifrs-full:Assets>
    <ifrs-full:Assets
      contextRef="c775"
      decimals="-3"
      id="ixv-66859"
      unitRef="eur">247004000</ifrs-full:Assets>
    <ifrs-full:Assets
      contextRef="c776"
      decimals="-3"
      id="ixv-66860"
      unitRef="eur">38809000</ifrs-full:Assets>
    <ifrs-full:Assets
      contextRef="c777"
      decimals="-3"
      id="ixv-66861"
      unitRef="eur">34570000</ifrs-full:Assets>
    <ifrs-full:Assets
      contextRef="c778"
      decimals="-3"
      id="ixv-66862"
      unitRef="eur">118435000</ifrs-full:Assets>
    <ifrs-full:Assets
      contextRef="c779"
      decimals="-3"
      id="ixv-66863"
      unitRef="eur">107678000</ifrs-full:Assets>
    <ifrs-full:Assets
      contextRef="c780"
      decimals="-3"
      id="ixv-66864"
      unitRef="eur">576508000</ifrs-full:Assets>
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      contextRef="c781"
      decimals="-3"
      id="ixv-66865"
      unitRef="eur">-24529000</ifrs-full:Assets>
    <ifrs-full:Assets
      contextRef="c782"
      decimals="-3"
      id="ixv-66866"
      unitRef="eur">551979000</ifrs-full:Assets>
    <ifrs-full:DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory contextRef="c0" id="ixv-66867">The following table lists the revenues
from the Company&#x2019;s operations in Spain, Israel and the Netherlands:&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the year ended December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;Spanish PV segment&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;2,791&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,264&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;2,587&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Ellomay Solar PV segment (Spain)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;4,051&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,597&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Talasol PV segment (Spain)&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;24,971&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;32,740&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;29,432&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Netherlands biogas segment&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;17,021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;12,640&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;12,686&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Total revenues&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;48,834&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;52,241&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;44,705&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory>
    <ifrs-full:OtherRevenue
      contextRef="c783"
      decimals="-3"
      id="ixv-66868"
      unitRef="eur">2791000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue
      contextRef="c784"
      decimals="-3"
      id="ixv-66869"
      unitRef="eur">3264000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue
      contextRef="c785"
      decimals="-3"
      id="ixv-66870"
      unitRef="eur">2587000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue
      contextRef="c786"
      decimals="-3"
      id="ixv-66871"
      unitRef="eur">4051000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue
      contextRef="c787"
      decimals="-3"
      id="ixv-66872"
      unitRef="eur">3597000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue
      contextRef="c788"
      decimals="-3"
      id="ixv-66873"
      unitRef="eur">24971000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue
      contextRef="c789"
      decimals="-3"
      id="ixv-66874"
      unitRef="eur">32740000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue
      contextRef="c790"
      decimals="-3"
      id="ixv-66875"
      unitRef="eur">29432000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue
      contextRef="c791"
      decimals="-3"
      id="ixv-66876"
      unitRef="eur">17021000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue
      contextRef="c792"
      decimals="-3"
      id="ixv-66877"
      unitRef="eur">12640000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue
      contextRef="c793"
      decimals="-3"
      id="ixv-66878"
      unitRef="eur">12686000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue contextRef="c0" decimals="-3" id="ixv-66879" unitRef="eur">48834000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue contextRef="c4" decimals="-3" id="ixv-66880" unitRef="eur">52241000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue contextRef="c5" decimals="-3" id="ixv-66881" unitRef="eur">44705000</ifrs-full:OtherRevenue>
    <ifrs-full:DisclosureOfOperatingSegmentsExplanatory contextRef="c0" id="ixv-66882">The
following table lists the non-current assets, net from the Company&#x2019;s operations in Spain, Israel, USA, Italy and the Netherlands:&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As at December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;Non-current assets (*)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left"&gt;Spain&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;238,580&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;251,574&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&lt;span style="font-style: normal; font-weight: normal"&gt;Israel&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;195,248&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;187,798&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;USA&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;6,041&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-435"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Italy&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;33,711&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;20,363&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Netherlands&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;25,871&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;26,749&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Total fixed assets, net&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;499,451&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;486,484&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.25in; text-align: left"&gt;(*)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Other than financial instruments, deferred tax assets and
employee benefit assets.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfOperatingSegmentsExplanatory>
    <ello:FixedAssetsNet
      contextRef="c718"
      decimals="-3"
      id="ix_206_fact"
      unitRef="eur">238580000</ello:FixedAssetsNet>
    <ello:FixedAssetsNet
      contextRef="c741"
      decimals="-3"
      id="ix_207_fact"
      unitRef="eur">251574000</ello:FixedAssetsNet>
    <ello:FixedAssetsNet
      contextRef="c794"
      decimals="-3"
      id="ix_208_fact"
      unitRef="eur">195248000</ello:FixedAssetsNet>
    <ello:FixedAssetsNet
      contextRef="c795"
      decimals="-3"
      id="ix_209_fact"
      unitRef="eur">187798000</ello:FixedAssetsNet>
    <ello:FixedAssetsNet
      contextRef="c721"
      decimals="-3"
      id="ix_210_fact"
      unitRef="eur">6041000</ello:FixedAssetsNet>
    <ello:FixedAssetsNet
      contextRef="c717"
      decimals="-3"
      id="ix_211_fact"
      unitRef="eur">33711000</ello:FixedAssetsNet>
    <ello:FixedAssetsNet
      contextRef="c797"
      decimals="-3"
      id="ix_212_fact"
      unitRef="eur">20363000</ello:FixedAssetsNet>
    <ello:FixedAssetsNet
      contextRef="c723"
      decimals="-3"
      id="ix_213_fact"
      unitRef="eur">25871000</ello:FixedAssetsNet>
    <ello:FixedAssetsNet
      contextRef="c745"
      decimals="-3"
      id="ix_214_fact"
      unitRef="eur">26749000</ello:FixedAssetsNet>
    <ello:FixedAssetsNet
      contextRef="c0"
      decimals="-3"
      id="ix_215_fact"
      unitRef="eur">499451000</ello:FixedAssetsNet>
    <ello:FixedAssetsNet
      contextRef="c4"
      decimals="-3"
      id="ix_216_fact"
      unitRef="eur">486484000</ello:FixedAssetsNet>
    <ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory contextRef="c0" id="ixv-49712">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Note
23 - &lt;/b&gt;&lt;/span&gt;&lt;b&gt;Discontinued operation and Disposal Groups Held for Sale&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-size: 7pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"&gt;On December 31, 2023, the Company executed
an agreement to sell its holdings in the Talmei Yosef PV Plant (the &#x201c;Talmei Agreement&#x201d;), the entire Israel segment.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"&gt;&lt;span style="font-size: 7pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"&gt;The Talmei Agreement provides for the
sale of the Company&#x2019;s holdings in the Talmei Yosef PV Plant to Greenlight Fund Limited Partnership and Doral Group Renewable Energy
Resources Ltd., in equal parts, in consideration for NIS 44.75 million (approximately &#x20ac;11.2 million), with an additional potential
payment of up to NIS 4 million (approximately &#x20ac;1 million) in the event the Talmei Yosef PV Plant will produce more than 18 million
Kwh during 2024. The Agreement further provides for a cutoff date of June 30, 2023, and at closing the parties will determine whether
an adjustment to the purchase price is required reflect the Company&#x2019;s entitlement to revenues (net of expenses) up to such date,
taking into account the results and the cash held by the project company. The Company does not expect a material adjustment to the purchase
price.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-size: 7pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"&gt;The Talmei Agreement includes customary
representations and indemnification undertakings in connection with breaches of representations, which, other than with respect to customary
exceptions, are subject to a cap of NIS 9 million (approximately &#x20ac;2.2 million) and limited to a period of 18 months from the closing
date. The consummation of the sale is subject to various customary conditions to closing, including receipt of regulatory approvals and
the consent of the financing entity of the Talmei Yosef PV Plant. All conditions to closing are required to be fulfilled within a period
of 90 days from execution of the Talmei Agreement, which can be extended to up to 150 days under certain circumstances. On April 2, 2024,
an addendum to the Talmei Agreement was executed, providing for a 45-day extension of the deadline for fulfillment of the conditions to
closing and therefore setting the deadline for May 15, 2024. The Talmei Yosef PV Plant is located in southern Israel. One of the conditions
to closing is the end of the war in southern Israel for a pre-determined period (based on the official definitions published by the Israeli
Authorities) and that the Talmei Yosef PV Plant is physically accessible. Based on the circumstances as of the date hereof, this condition
is currently fulfilled. The closing of the sale is currently expected during the second quarter of 2024. In addition, the Talmei Agreement
provides that in the event that due to the current war and hostilities in Israel the facility will be damaged or its output will decrease,
the buyers will have the right not to consummate the acquisition of the plant.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-size: 7pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"&gt;In connection with the expected sale
of the Talmei Yosef PV Plant, the Company presents the results of the Talmei Yosef PV Plant as a discontinued operation. The assets and
liabilities of the Talmei Yosef PV Plant were presented as held for sale.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-size: 7pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"&gt;The segment was not a discontinued operation or classified as held for sale as at December 31, 2022 and the comparative income statement
for 2022 and 2021 has been restated to show the discontinued operation separately from continuing operations. Management committed to
a plan to sell this segment at the end of 2023 following the signature of the agreement.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-size: 7pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"&gt;As at December 31, 2023, the disposal
groups comprised assets of &#x20ac;28,297 thousand less liabilities of &#x20ac;17,142 thousand.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-size: 7pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;A.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Impairment
                                            losses and reversal of impairment loss&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-size: 7pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify"&gt;An impairment loss of &#x20ac;2,565 thousand
on the re-measurement of the disposal group to the lower of its carrying amount and its fair value based on Talmei Agreement, based on
Talmei Agreement, less costs to sell has been recognized in the statement of income.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-size: 7pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;B.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Assets and
                                            liabilities of disposal groups held for sale&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-size: 7pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"&gt;&lt;b&gt;Assets of disposal
groups classified as held for sale&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-size: 7pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="white-space: nowrap; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="white-space: nowrap; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center"&gt;December 31&lt;/td&gt;&lt;td style="white-space: nowrap; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="white-space: nowrap; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2023&lt;/td&gt;&lt;td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="white-space: nowrap; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;428&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Short-term deposits&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;12&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Receivable from concession project&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,426&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Trade and other receivables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;587&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Right-of-use asset&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,204&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Intangible asset&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;917&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Restricted cash and deposits&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,694&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Long term receivables&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;29&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Total&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;28,297&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-size: 5pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"&gt;&lt;b&gt;Liabilities
of disposal groups classified as held for sale&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-size: 5pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December 31&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: left"&gt;Trade payables&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;39&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Other payables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;18&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Lease liability&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,321&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Long-term bank loans including current maturities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,047&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;Deferred tax liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,717&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;17,142&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"&gt;&lt;/td&gt;&lt;td style="width: 0.5in; text-align: left"&gt;&lt;b&gt;D.&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;Results attributable to discontinued operation&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 7pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;

&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the year ended December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;Results of discontinued operation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify"&gt;Revenue&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;675&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,119&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,016&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Operating expenses&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;342&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;418&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;367&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Depreciation and amortization expenses&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;461&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;512&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;475&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;Gross profit (loss) from operating activities&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(128&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;189&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;174&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;General and administrative expenses&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;33&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;37&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;37&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt"&gt;Operating profit (loss) from operating activities&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(161&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;152&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;137&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Financing income&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,792&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,121&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,258&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Financing expenses&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;1,269&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,111&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,381&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt"&gt;Financing income, net&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;523&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,010&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;877&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 1pt; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 1pt; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 1pt; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;Results from operating activities before taxes on income&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;362&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,162&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,014&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Taxes on income&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(247&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(451&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(255&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt"&gt;Results from operating activities, net of taxes on income&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;115&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;711&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;759&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Loss on adjustment to fair value&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(2,565&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-436"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-437"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Tax benefit on loss from sale of discontinued operation&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;663&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-438"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-439"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;Profit (loss) for the year&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(1,787&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;711&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;759&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;Earnings per share&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Basic earnings (loss) per share (in &lt;span style="font-size: 10pt"&gt;&#x20ac;&lt;/span&gt;)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(0.14&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.06&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.06&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Diluted earnings (loss) per share (in &lt;span style="font-size: 10pt"&gt;&#x20ac;&lt;/span&gt;)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(0.14&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.06&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.06&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;Cash flows from discontinued operation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Net cash (used in) from operating activities&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;2,587&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,445&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,471&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Net cash (used in) from investing activities&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(462&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,327&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(604&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Net cash (used in) from financing activities&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(2,127&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,126&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,099&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Net cash from (used in) discontinued operation&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(2&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1,008&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(232&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory>
    <ifrs-full:PropertyPlantAndEquipment contextRef="c2" decimals="-4" id="ixv-66895" unitRef="ils">44750000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="c798"
      decimals="-5"
      id="ixv-66896"
      unitRef="eur">11200000</ifrs-full:PropertyPlantAndEquipment>
    <ello:AdditionalPotentialPayment
      contextRef="c798"
      decimals="-6"
      id="ixv-66897"
      unitRef="ils">4000000</ello:AdditionalPotentialPayment>
    <ello:AdditionalPotentialPayment
      contextRef="c798"
      decimals="-6"
      id="ixv-66898"
      unitRef="eur">1000000</ello:AdditionalPotentialPayment>
    <ello:RenewableEnergyProduced
      contextRef="c799"
      decimals="-6"
      id="ixv-66899"
      unitRef="kwh">18000000</ello:RenewableEnergyProduced>
    <ello:CustomaryException contextRef="c0" decimals="-6" id="ixv-66900" unitRef="ils">9000000</ello:CustomaryException>
    <ello:CustomaryException contextRef="c0" decimals="-5" id="ixv-66901" unitRef="eur">2200000</ello:CustomaryException>
    <ifrs-full:OtherAssets
      contextRef="c798"
      decimals="-3"
      id="ixv-66902"
      unitRef="eur">28297000</ifrs-full:OtherAssets>
    <ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale
      contextRef="c798"
      decimals="-3"
      id="ixv-66903"
      unitRef="eur">17142000</ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale>
    <ifrs-full:ImpairmentLoss
      contextRef="c800"
      decimals="-3"
      id="ixv-66904"
      unitRef="eur">2565000</ifrs-full:ImpairmentLoss>
    <ifrs-full:DisclosureOfFinancialAssetsExplanatory contextRef="c0" id="ixv-49759">&lt;b&gt;Assets of disposal
groups classified as held for sale&lt;/b&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="white-space: nowrap; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="white-space: nowrap; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center"&gt;December 31&lt;/td&gt;&lt;td style="white-space: nowrap; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="white-space: nowrap; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2023&lt;/td&gt;&lt;td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="white-space: nowrap; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;428&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Short-term deposits&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;12&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Receivable from concession project&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,426&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Trade and other receivables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;587&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Right-of-use asset&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,204&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Intangible asset&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;917&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Restricted cash and deposits&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,694&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Long term receivables&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;29&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Total&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;28,297&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfFinancialAssetsExplanatory>
    <ifrs-full:CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale
      contextRef="c801"
      decimals="-3"
      id="ixv-66905"
      unitRef="eur">428000</ifrs-full:CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale>
    <ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents
      contextRef="c801"
      decimals="-3"
      id="ixv-66906"
      unitRef="eur">12000</ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents>
    <ifrs-full:OtherReceivables
      contextRef="c801"
      decimals="-3"
      id="ixv-66907"
      unitRef="eur">23426000</ifrs-full:OtherReceivables>
    <ifrs-full:TradeAndOtherCurrentReceivables
      contextRef="c801"
      decimals="-3"
      id="ixv-66908"
      unitRef="eur">587000</ifrs-full:TradeAndOtherCurrentReceivables>
    <ifrs-full:RightofuseAssets
      contextRef="c801"
      decimals="-3"
      id="ixv-66909"
      unitRef="eur">1204000</ifrs-full:RightofuseAssets>
    <ifrs-full:OtherIntangibleAssets
      contextRef="c801"
      decimals="-3"
      id="ixv-66910"
      unitRef="eur">917000</ifrs-full:OtherIntangibleAssets>
    <ifrs-full:NoncurrentRestrictedCashAndCashEquivalents
      contextRef="c801"
      decimals="-3"
      id="ixv-66911"
      unitRef="eur">1694000</ifrs-full:NoncurrentRestrictedCashAndCashEquivalents>
    <ifrs-full:NoncurrentReceivables
      contextRef="c801"
      decimals="-3"
      id="ixv-66912"
      unitRef="eur">29000</ifrs-full:NoncurrentReceivables>
    <ifrs-full:Assets
      contextRef="c801"
      decimals="-3"
      id="ixv-66913"
      unitRef="eur">28297000</ifrs-full:Assets>
    <ello:ScheduleOfDisposalGroupsClassifiedAsHeldForSaleTableTextBlock contextRef="c0" id="ixv-49837">&lt;b&gt;Liabilities
of disposal groups classified as held for sale&lt;/b&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December 31&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: left"&gt;Trade payables&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;39&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Other payables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;18&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Lease liability&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,321&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Long-term bank loans including current maturities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,047&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;Deferred tax liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,717&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;17,142&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;</ello:ScheduleOfDisposalGroupsClassifiedAsHeldForSaleTableTextBlock>
    <ifrs-full:TradeAndOtherPayablesToTradeSuppliers
      contextRef="c801"
      decimals="-3"
      id="ixv-66914"
      unitRef="eur">39000</ifrs-full:TradeAndOtherPayablesToTradeSuppliers>
    <ifrs-full:OtherPayables
      contextRef="c801"
      decimals="-3"
      id="ixv-66915"
      unitRef="eur">18000</ifrs-full:OtherPayables>
    <ifrs-full:LeaseLiabilities
      contextRef="c801"
      decimals="-3"
      id="ixv-66916"
      unitRef="eur">1321000</ifrs-full:LeaseLiabilities>
    <ifrs-full:CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived
      contextRef="c801"
      decimals="-3"
      id="ixv-66917"
      unitRef="eur">13047000</ifrs-full:CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived>
    <ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate
      contextRef="c801"
      decimals="-3"
      id="ixv-66918"
      unitRef="eur">2717000</ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate>
    <ifrs-full:Liabilities
      contextRef="c801"
      decimals="-3"
      id="ixv-66919"
      unitRef="eur">17142000</ifrs-full:Liabilities>
    <ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory contextRef="c0" id="ixv-49933">&lt;b&gt;Results attributable to discontinued operation&lt;/b&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the year ended December 31&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;Results of discontinued operation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify"&gt;Revenue&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;675&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,119&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,016&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Operating expenses&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;342&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;418&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;367&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Depreciation and amortization expenses&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;461&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;512&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;475&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;Gross profit (loss) from operating activities&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(128&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;189&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;174&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;General and administrative expenses&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;33&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;37&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;37&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt"&gt;Operating profit (loss) from operating activities&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(161&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;152&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;137&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Financing income&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;1,792&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,121&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,258&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Financing expenses&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;1,269&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,111&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,381&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt"&gt;Financing income, net&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;523&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,010&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;877&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 1pt; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 1pt; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-size: 1pt; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-size: 1pt; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;Results from operating activities before taxes on income&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;362&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,162&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,014&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Taxes on income&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(247&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(451&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(255&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt"&gt;Results from operating activities, net of taxes on income&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;115&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;711&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;759&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Loss on adjustment to fair value&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(2,565&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-436"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-437"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Tax benefit on loss from sale of discontinued operation&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;663&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-438"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-439"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;Profit (loss) for the year&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(1,787&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;711&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;759&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;Earnings per share&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Basic earnings (loss) per share (in &lt;span style="font-size: 10pt"&gt;&#x20ac;&lt;/span&gt;)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(0.14&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.06&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.06&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Diluted earnings (loss) per share (in &lt;span style="font-size: 10pt"&gt;&#x20ac;&lt;/span&gt;)&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(0.14&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.06&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.06&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;Cash flows from discontinued operation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Net cash (used in) from operating activities&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;2,587&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,445&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,471&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Net cash (used in) from investing activities&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;(462&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,327&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(604&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Net cash (used in) from financing activities&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;(2,127&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,126&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,099&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Net cash from (used in) discontinued operation&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;(2&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1,008&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(232&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory>
    <ifrs-full:Revenue
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      decimals="-3"
      id="ixv-66920"
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    <ifrs-full:Revenue
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    <ifrs-full:Revenue
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      id="ixv-66923"
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    <ifrs-full:OperatingExpense
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      unitRef="eur">418000</ifrs-full:OperatingExpense>
    <ifrs-full:OperatingExpense
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      id="ixv-66925"
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    <ifrs-full:DepreciationAndAmortisationExpense
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    <ifrs-full:DepreciationAndAmortisationExpense
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    <ifrs-full:DepreciationAndAmortisationExpense
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    <ifrs-full:GrossProfit
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      decimals="-3"
      id="ixv-66929"
      unitRef="eur">-128000</ifrs-full:GrossProfit>
    <ifrs-full:GrossProfit
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      id="ixv-66930"
      unitRef="eur">189000</ifrs-full:GrossProfit>
    <ifrs-full:GrossProfit
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      id="ixv-66931"
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    <ifrs-full:GeneralAndAdministrativeExpense
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    <ifrs-full:GeneralAndAdministrativeExpense
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      unitRef="eur">37000</ifrs-full:GeneralAndAdministrativeExpense>
    <ifrs-full:GeneralAndAdministrativeExpense
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      unitRef="eur">37000</ifrs-full:GeneralAndAdministrativeExpense>
    <ifrs-full:ProfitLossFromOperatingActivities
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      decimals="-3"
      id="ixv-66935"
      unitRef="eur">-161000</ifrs-full:ProfitLossFromOperatingActivities>
    <ifrs-full:ProfitLossFromOperatingActivities
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    <ifrs-full:ProfitLossFromOperatingActivities
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    <ifrs-full:FinanceIncome
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      id="ixv-66938"
      unitRef="eur">1792000</ifrs-full:FinanceIncome>
    <ifrs-full:FinanceIncome
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      unitRef="eur">3121000</ifrs-full:FinanceIncome>
    <ifrs-full:FinanceIncome
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      id="ixv-66940"
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    <ifrs-full:FinanceCosts
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      id="ixv-66941"
      unitRef="eur">1269000</ifrs-full:FinanceCosts>
    <ifrs-full:FinanceCosts
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      id="ixv-66942"
      unitRef="eur">2111000</ifrs-full:FinanceCosts>
    <ifrs-full:FinanceCosts
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    <ifrs-full:FinanceIncomeCost
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      id="ixv-66944"
      unitRef="eur">523000</ifrs-full:FinanceIncomeCost>
    <ifrs-full:FinanceIncomeCost
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    <ifrs-full:FinanceIncomeCost
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      unitRef="eur">877000</ifrs-full:FinanceIncomeCost>
    <ifrs-full:ProfitLossBeforeTax
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      decimals="-3"
      id="ixv-66947"
      unitRef="eur">362000</ifrs-full:ProfitLossBeforeTax>
    <ifrs-full:ProfitLossBeforeTax
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    <ifrs-full:ProfitLossBeforeTax
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      unitRef="eur">1014000</ifrs-full:ProfitLossBeforeTax>
    <ifrs-full:IncomeTaxExpenseContinuingOperations
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    <ifrs-full:IncomeTaxExpenseContinuingOperations
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    <ifrs-full:IncomeTaxExpenseContinuingOperations
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    <ello:ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars
      contextRef="c488"
      decimals="-3"
      id="ixv-66953"
      unitRef="eur">115000</ello:ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars>
    <ello:ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars
      contextRef="c489"
      decimals="-3"
      id="ixv-66954"
      unitRef="eur">711000</ello:ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars>
    <ello:ResultsFromOperatingActivitiesNetOfTaxesOnIncomeinDollars
      contextRef="c490"
      decimals="-3"
      id="ixv-66955"
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    <ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss
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    <ifrs-full:TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesOfDiscontinuedOperations
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      unitRef="eur">663000</ifrs-full:TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesOfDiscontinuedOperations>
    <ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity
      contextRef="c488"
      decimals="-3"
      id="ixv-66958"
      unitRef="eur">-1787000</ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity>
    <ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity
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      unitRef="eur">711000</ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity>
    <ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity
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      id="ixv-66960"
      unitRef="eur">759000</ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity>
    <ifrs-full:BasicEarningsLossPerShare
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      id="ixv-66961"
      unitRef="eurPershares">-0.14</ifrs-full:BasicEarningsLossPerShare>
    <ifrs-full:BasicEarningsLossPerShare
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      id="ixv-66962"
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    <ifrs-full:BasicEarningsLossPerShare
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      id="ixv-66963"
      unitRef="eurPershares">0.06</ifrs-full:BasicEarningsLossPerShare>
    <ifrs-full:DilutedEarningsLossPerShare
      contextRef="c488"
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&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 7pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0in"&gt;On January &lt;span style="font-family: Times New Roman, Times, Serif"&gt;16,
2024&lt;/span&gt;, the Company issued in an Israeli public offering units consisting of an aggregate principal amount of NIS 170 million (approximately
&#x20ac;41 million, as of the issuance date) of the Series F Debentures, due March 31, 2030 and Series 2 Options to purchase an aggregate
of 1,020,000 ordinary shares at a price per share of NIS 80 (subject to customary adjustments), which expire on January 5, 2028. The
net proceeds of the offering, net of related expenses such as consultancy fee and commissions, were approximately NIS 165 million (approximately
&#x20ac;40 million as of the issuance date). The Deed of Trust governing the Series F Secured Debentures includes requirement that the
Company meet certain financial covenants and restrictions on the Company&#x2019;s ability to pay dividends and additional customary provisions.
The principal amount of Series F Debentures is repayable in four non-equal installment on
March 31 in each of the years 2027 to 2030 (inclusive) as follows: in each of the principal payments in the years 2027 and 2028 a rate
of 30% of the principal will be paid, in the principal payment in the year 2029 a rate of 25% of the principal will be paid and in the
principal payment in the year 2030 a rate of 15% of the principal will be paid. The Series F Debentures bear a fixed annual interest
at the rate of 5.5% (that is not linked to the Israeli CPI or otherwise), payable semi-annually on March 31 and September 30, commencing
March 31, 2024 through March 31, 2030 (inclusive).&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: 0in"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 7pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

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2024, the Company issued NIS 40 million par
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gross consideration of approximately NIS 37.8 million, reflecting a price of NIS 0.946 per NIS 1 principal amount Series F Debentures. Following completion of the private placement, the aggregate outstanding par value of the Company&#x2019;s
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    <ello:ScheduleOfFairValuesHierarchyTableTextBlock contextRef="c0" id="ixv-67390">Level 3	-	Inputs that are not based on observable market data (unobservable inputs).&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
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    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="17" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2023&lt;/td&gt;&lt;/tr&gt;
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    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
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    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 3&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; font-weight: bold; text-align: center"&gt;Valuation techniques for&lt;/td&gt;&lt;/tr&gt;
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    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&#x20ac; in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; vertical-align: top; font-weight: bold; text-align: center"&gt;determining fair value&lt;/td&gt;&lt;/tr&gt;
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    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;882&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-396"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
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    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;5,698&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;5,698&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="vertical-align: top; text-align: justify; padding-bottom: 4pt"&gt;Fair value is measured by discounting the future fixed and assessed cash flows, over the period of the contract and using market interest rates appropriate for similar instruments. The value is adjusted for the parties&#x2019; credit risks.&lt;/td&gt;&lt;/tr&gt;
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    &lt;td colspan="17" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2022&lt;/td&gt;&lt;/tr&gt;
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    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center"&gt;Valuation techniques for&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
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    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;determining fair value&lt;/td&gt;&lt;/tr&gt;
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    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-400"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
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    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(61,537&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(61,537&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Fair value is measured by discounting the future fixed and assessed cash flows, over the period of the contract and using market interest rates appropriate for similar instruments. The value is adjusted for the parties&#x2019; credit risks.&lt;/td&gt;&lt;/tr&gt;
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          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_67_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_5_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_51_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_61_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_39_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_19_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_69_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_54_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_50_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_8_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_15_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_27_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_37_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_71_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_40_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_47_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_41_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_55_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_65_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_58_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_66_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_73_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_31_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_28_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_72_fact"
          xlink:to="ix_0_footnote"
          xlink:type="arc"/>
        <link:footnote id="ix_1_footnote" xlink:label="ix_1_footnote" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Reclassified &#x2013; see Note 2G.</link:footnote>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_45_fact"
          xlink:to="ix_1_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_42_fact"
          xlink:to="ix_1_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_44_fact"
          xlink:to="ix_1_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_43_fact"
          xlink:to="ix_1_footnote"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#ix_74_fact"
          xlink:label="ix_74_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_76_fact"
          xlink:label="ix_76_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_75_fact"
          xlink:label="ix_75_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_77_fact"
          xlink:label="ix_77_fact"
          xlink:type="locator"/>
        <link:footnote id="ix_2_footnote" xlink:label="ix_2_footnote" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Deposits used to secure obligations under agreements (see Notes 6 and 21E(3)) and loan
agreements (see Note 11).</link:footnote>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_74_fact"
          xlink:to="ix_2_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_76_fact"
          xlink:to="ix_2_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_75_fact"
          xlink:to="ix_2_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_77_fact"
          xlink:to="ix_2_footnote"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#hidden-fact-159"
          xlink:label="hidden-fact-159"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_82_fact"
          xlink:label="ix_82_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_80_fact"
          xlink:label="ix_80_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_79_fact"
          xlink:label="ix_79_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_78_fact"
          xlink:label="ix_78_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_81_fact"
          xlink:label="ix_81_fact"
          xlink:type="locator"/>
        <link:footnote id="ix_3_footnote" xlink:label="ix_3_footnote" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Loans provided by the minority (49%) holders in Talasol.</link:footnote>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="hidden-fact-159"
          xlink:to="ix_3_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_82_fact"
          xlink:to="ix_3_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_80_fact"
          xlink:to="ix_3_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_79_fact"
          xlink:to="ix_3_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_78_fact"
          xlink:to="ix_3_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_81_fact"
          xlink:to="ix_3_footnote"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#ix_83_fact"
          xlink:label="ix_83_fact"
          xlink:type="locator"/>
        <link:footnote id="ix_4_footnote" xlink:label="ix_4_footnote" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Loans provided by the minority (49%) holders in Talasol.</link:footnote>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_83_fact"
          xlink:to="ix_4_footnote"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#ix_84_fact"
          xlink:label="ix_84_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_85_fact"
          xlink:label="ix_85_fact"
          xlink:type="locator"/>
        <link:footnote id="ix_5_footnote" xlink:label="ix_5_footnote" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Represents the long-term portion of the potential liability
in connection with the acquisition of rights in the Manara PSP. See Note 6B.</link:footnote>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_84_fact"
          xlink:to="ix_5_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_85_fact"
          xlink:to="ix_5_footnote"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#ix_91_fact"
          xlink:label="ix_91_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_90_fact"
          xlink:label="ix_90_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_86_fact"
          xlink:label="ix_86_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_87_fact"
          xlink:label="ix_87_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_88_fact"
          xlink:label="ix_88_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_89_fact"
          xlink:label="ix_89_fact"
          xlink:type="locator"/>
        <link:footnote id="ix_6_footnote" xlink:label="ix_6_footnote" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US"><xhtml:span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
remainder of the depreciation and the interest is capitalized to fixed assets.</xhtml:span></link:footnote>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_91_fact"
          xlink:to="ix_6_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_90_fact"
          xlink:to="ix_6_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_86_fact"
          xlink:to="ix_6_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_87_fact"
          xlink:to="ix_6_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_88_fact"
          xlink:to="ix_6_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_89_fact"
          xlink:to="ix_6_footnote"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#ix_92_fact"
          xlink:label="ix_92_fact"
          xlink:type="locator"/>
        <link:footnote id="ix_7_footnote" xlink:label="ix_7_footnote" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US"><xhtml:span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See Note 6A regarding the conversion of approximately NIS 46,933 thousand of the shareholders loans (of which the Company&#x2019;s portion is approximately NIS 23,467 thousand) to capital notes.</xhtml:span></link:footnote>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_92_fact"
          xlink:to="ix_7_footnote"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#ix_93_fact"
          xlink:label="ix_93_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_94_fact"
          xlink:label="ix_94_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_95_fact"
          xlink:label="ix_95_fact"
          xlink:type="locator"/>
        <link:footnote id="ix_8_footnote" xlink:label="ix_8_footnote" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US"><xhtml:span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net of 258,046 Ordinary shares held as treasury shares as of December 31, 2023, 2022 and 2021, all of which have been purchased according to share buyback programs that were authorized by the Company&#x2019;s Board of Directors.</xhtml:span></link:footnote>
        <link:footnoteArc
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          xlink:from="ix_93_fact"
          xlink:to="ix_8_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_94_fact"
          xlink:to="ix_8_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_95_fact"
          xlink:to="ix_8_footnote"
          xlink:type="arc"/>
        <link:loc
          xlink:href="#ix_112_fact"
          xlink:label="ix_112_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_114_fact"
          xlink:label="ix_114_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_96_fact"
          xlink:label="ix_96_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_104_fact"
          xlink:label="ix_104_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_108_fact"
          xlink:label="ix_108_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_105_fact"
          xlink:label="ix_105_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_106_fact"
          xlink:label="ix_106_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_111_fact"
          xlink:label="ix_111_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_110_fact"
          xlink:label="ix_110_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_98_fact"
          xlink:label="ix_98_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_101_fact"
          xlink:label="ix_101_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_99_fact"
          xlink:label="ix_99_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_113_fact"
          xlink:label="ix_113_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_102_fact"
          xlink:label="ix_102_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_103_fact"
          xlink:label="ix_103_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_109_fact"
          xlink:label="ix_109_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_100_fact"
          xlink:label="ix_100_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_107_fact"
          xlink:label="ix_107_fact"
          xlink:type="locator"/>
        <link:loc
          xlink:href="#ix_97_fact"
          xlink:label="ix_97_fact"
          xlink:type="locator"/>
        <link:footnote id="ix_9_footnote" xlink:label="ix_9_footnote" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US"><xhtml:span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassified due to discontinued operation - see Note 23.</xhtml:span></link:footnote>
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          xlink:from="ix_112_fact"
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        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_114_fact"
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        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_96_fact"
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          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_104_fact"
          xlink:to="ix_9_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_108_fact"
          xlink:to="ix_9_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_105_fact"
          xlink:to="ix_9_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_106_fact"
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          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_111_fact"
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        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_110_fact"
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        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_98_fact"
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        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_101_fact"
          xlink:to="ix_9_footnote"
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        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_99_fact"
          xlink:to="ix_9_footnote"
          xlink:type="arc"/>
        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_113_fact"
          xlink:to="ix_9_footnote"
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        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_102_fact"
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        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_103_fact"
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        <link:footnoteArc
          xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote"
          xlink:from="ix_109_fact"
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
